I'd like to become a better trader

Discussion in 'Journals' started by PO, Feb 2, 2011.

  1. PO

    PO

    NQ broke out of the open range (why do I talk about NQ? because I look at it during the day for guidance), but stalled before reaching YH (yesterday's high).
    And ES is stalled at the ORH(open range high)
     
    #11     Feb 2, 2011
  2. PO

    PO

    market is in congestion - need to stay away and wait for a high probability trade instead of getting chopped up here.
     
    #12     Feb 2, 2011
  3. PO

    PO

    sold 4 es here @ 1302.
    stop 1304.5 - just above daily high
    target 1998
    reason $tick finally got negative, NQ rejected YH ES has failed break out of OR

    Although we do have a series of HH and HL on 5 min ES chart, so my selling could have been premature...
     
    #13     Feb 2, 2011
  4. PO

    PO

    closed previous trade at break even as I never was happy with it.
    I broke my rule of not trading congestion and taking only high probability set ups.
     
    #14     Feb 2, 2011
  5. PO

    PO

    I have no idea where I got these numbers from for OR...

    it's 1299.25 - 1304.25 = 5 points

    still confusing signals.
    lots of snow in North east, could be a choppy small range day after yesterday's run up.

    staying on the sidelines for now. I find it difficult to just observe the market and not be in a trade. I have to learn - to do nothing is a big part of trading.
     
    #15     Feb 2, 2011
  6. PO

    PO

    short 4es 1301.25, stop at 1303, target AH low 1298
    YM rejected 1200 yet again, YM, ES and NQ look like H&S formations.
     
    #16     Feb 2, 2011
  7. I recommend you do this in private. So much about this business is psychological, these public forums will mess with your sub conscious.
     
    #17     Feb 2, 2011
  8. PO

    PO

    will 1300 hold it again? it did so 4 times this morning.
    $tick is turning negative finally below 200
     
    #18     Feb 2, 2011
  9. If you are going to do this through a public journal, I would suggest you jot down your notes and thoughts down as you trade throughout the day, and then post an end of day summary to your journal. I cannot see how your posting of a blow by blow of your day trades is going to do you any good, but I can easily imagine it doing all kinds of harm.

    Also, "Looser" is not the same as "Loser." "Trading is a loser's game ..." You want to be the Best "Loser", not the Best "Looser," unless you feel you're too uptight, and you need to loosen up a bit.

    Good Luck,

    d-day
     
    #19     Feb 2, 2011
  10. PO

    PO

    care to elaborate how so?
     
    #20     Feb 2, 2011