I Love Virgins

Discussion in 'Journals' started by enochbenjamin, Sep 8, 2009.

  1. After lurking around for a few years I have decided to start a journal. My main reason for starting this journal is really selfish - in some strange way I feel publishing this journal will help me stop the impulsive trades.

    Anyway, the title. I love trading virgin approaches to established (by me) support and resistance levels. I define virgin as a level that has not been revisited since it was created and do not count levels created in the current session. I also do not use virgins that have been violated in the overnight sessions.

    My vehicle of choice is the 10 year (ZN) although I have been known to occasionally trade other markets if a pretty virgin entices me.

    That's all for now.

  2. Today's trades:

    Buy virgin approach of 116'235
    Sell virgin approach of 117'155

    note: by virgin I mean first time approach only.
  3. cancel all orders - no trades today.
  4. Today's trades


    Declining POC's indicate downward pressure so our initial bias will be to go short.

    SELL virgin @ 117'04 then 117'155

    Cautiously BUY virgin @ 116'235
  5. In at 116'235 - out 2/3 at 116'255 -- 1/3 left to run with B.E. stop - free trade.
  6. Hi Ben,

    Who is 'our'?
  7. Can you be more specific with stops and targets ?

  8. I'll try.

    Initial target is usually 4 or 5 ticks. If your not greedy and patient, you can almost always get a 4 tick bounce of s&r levels - even if it is clear that level will be violated.

    As far as stops, keep it simple - never risk more than you plan to make.
  9. well i have multiple personalities - one a bricklayer who comes to work and takes the same low risk trades day in and day out, and a second who gets emotional and takes any sudden movement as an indicator that its time to trade.

    when i say "we" or "our" it means the bricklayer has the impulsive trader under control and both are in agreement.

  10. :D
    #10     Sep 9, 2009