jasinhbca's quest for discipline, knowledge & profits

thanks guys.

For context i've been using opening range high/low, prior day hi/lo and channels.

i bot one of the dalton books you mentioned awhile back but honestly haven't got to it.

 

Was tired today. Took 1 trade for + 4.25 pts then pretty much clocked out mentally.

 

JIH

Read where you were having trouble staying in a trade

In your quest to create context, learn to also create targets


Channels…, S&R levels…, measured moves – identified on a higher a time frame can be use to identify targets on the TF you’re trading

Add to this the ability to read price and volume, you’ll easily stay in a trade till price either hits its target.., or tells ya its changed its mind and ain’t going there
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1 minute is good to identify entries on, not so good to actually trade from (too easy to get the jitters/ google juice overload)

I realize the 1 minute is “perceived” as good for low risk entries… but, imo, contributes to more jumpy entries/ exits than Mexican jumping beans….

On one hand it may you save money – but on the other cause you to give it right back / jump out early and miss out

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Btw –

Context needs to be very specific… and reflect what price is saying…

Context should never reflect what you think… (just because I place a line on a chart doesn’t mean squat if price doesn’t acknowledge it)

Price will tell you when you’re nailing it

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Also, for now, you may consider peeling off the middle of a move…, or even better peeling the middle of “with trend” moves

Save the ‘going both ways” / “entering at the turning points” for later - after you’ve gotten more seat time

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identify with trend entries, using PA and context… wait till target is reached to exit, using context.., knowing when your are wrong exits, using context…, and knowing when to exit early, using PA

In reality, all these rely on PA skills – but it gives you an idea how important specific context really is

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Two other thoughts

Take all your setups, never know which will be “the one”

Use a higher TF to show you the trend/ move you want to trade


jmho…, and some thoughts to ponder Sir

RN

 

RN,

Thanks for your time and advice.

I used to use 3 min for higher TF and 1 min for entry. Recently switched to 5 min instead of 3. (I also use some other higher TF for more big picture.) Anyway , i think my traders mind is finally starting to get the interplay between the TF's.

Alot of what you mention i'm aware of but still trying to apply. Measured moves and volume analysis i don't do much or any of so i'll put that on my list of things to learn.

I do think a big part of my issue is mental. I'm not sure why but i think i'm tensing up then start looking for a reason to exit. I might have to give your 'belief' exercise a try and drill down to what's going on. I don't expect perfection in trading but I do expect that i can trade from a more objective , clear mindset.

 

"It might do this instead this time" That's what i was thinking. It may not give the trigger i want this time so just get in.

Wrong !

I hate to reveal this, but the holy grail is....patterns repeat. At least that's the theory for today.

Patience and trust my ability. And don't compound mistakes by repeating them.

Managed to recover on 3rd trade so +1.25 pts for the day. Might take the bankers holiday myself. This day doesn't feel like it fits my style.

 

short NQ @54.25

target 48.25

 

I dont know if you were wrong, Trusting ur ability is one thing - however you need to trust the MARKET.the TREND.
M sorry if it seems like i have been saying the same story but i dont see another that applicable in ur game.
Ur most losses are not from wrong trend detection - but churning in the chop...around a flat line. U r still not considering using the hypothesis way of trading. i am afraid but there is no other way to trade.

 

out @51

too early in day - looking for sell-off later

will post re-entry

 

selling at 55.25- 56.25 (may not get in)

stop 60

 

well, the 5 min ema was up. i understand what you're saying re: my entry timeframe. I generally feel like i'm chasing if i wait for more confirmation from a sloping ema. It's an entry technique i'm not good at. Yet.

I'll PM you in a bit.