Brilliance and stupidity. Some great entries and terrible exits. This has been my problem for awhile. Today all mental mindgames; being influenced by prior trade, trying to stay profitable on day and not taking heat plus the volitilty threw me off a bit. Staying objective in the trade is what it comes down to. I've improved in this area but not enough. 5 trades today + 5.75 points. 3 wins 2 losses. For the half dozen people looking at my charts i'll post a couple.
1 more chart. I think there's something to be learned from my mistakes and the few things i do correctly.
i am a perfect Fog horn... Whn Cables are at a higher angles u can stay in the trade longer... thats all... so easy ... JK.... U r doing good... its a solo journey anyways...
Hey, man thanks. Good to see you're still here. It really is a solo journey. Got to continue to study and find things that work for me. Nice to have some company along the way, though. Later !
Tired and distracted with other work. A couple ok trades but bottom line should not have been trading today. -6.75 pt on 5 trades then stopped trading midday. Too bad. There were some great opportunities but i just didn't have the focus. My edge is my focus. Tomorrow i'll bring it. And i think i must be getting old. Did some painting around the house over the weekend . Up and down the stairs. Up and down. Son of a bitch I'm exhausted.
Hey Jas, Hope all is well. Have you considered trading the 5min chart instead of the 1min? Price action probably doesn't have much meaning on the 1min. I trade the STOXX (index is around 2000) and while I initially thought of taking bigger slices I focus now on 5 pts off the 5min. Later I plan to incorporate a 1/2 off, other 1/2 BE stop and running the rest. I think being patient and trying to get the very best screaming oppties makes a difference. I notice on a couple of your charts, you seem to be trading just to make a trade and placing too much emphasis on a couple of bars when the overall trend was against you. Draw a couple of trendlines. They help me. Have patience and try to get in on the first pullback. But be careful that the pullback has stopped pulling back first. Good luck! Sophocles P.S. you can never be too old to trade. too tired yes, but never too old!
Hey Snowman good to hear from you. I use a 3 minute chart to look for set up area in conjuction with the 1 minute. Trading off the 5 not sure about but i've been watching it recently also. Not quite ready to switch to that just yet. Thanks for looking at my charts. I think i do have a tendency to trade against the trend too much looking for reversals. Price rejection at extremes or near S/R is what i'm looking for. Pullbacks in trends I look for but i don't trade them as well yet. TL and channels i use but don't always include on the posted charts. Thanks for the advice. i appreciate it.
-5.75 pts. I'll just say that despite the negative numbers it wasn't as bad as it appears. At least i'm mostly trading in the right direction, early a few times today, and i'm not hesitating to re-enter a trade after the first time didn't work. Had MFE of +8.5 on one trade but exited at + 3.25. I see that as the potential is there but i'm just not quite getting it. I should be though. I did stop trading mid day to do some other work so missed some action.