Matcha's Dow E-mini Journal

I can't believe you are dealing with it... You are too modest. I think you are a super trader!
I actually think for someone who is so exerienced like you. Its not a bad idea to only take "the best" and "most confirmed" setups. So what if it's less profit, you got high win rate. As long as you catch 50% of the whole move! If you want more profit, slowly add more contract... You can't catch all the major moves and setups anyway. And life will be so easy and relaxed. I think I have read someone only trade one instrument and one set up and make a very good living.

But I think you are targeting for more setups. More profits I guess. And you like to trade different setups. Whatever formulas work for you!! You are already a very very profitable Hot Pro trader!

For me, totally different. Got to trust one sep up first.

I will definitely share with you my analysis

 

I played the long side majority of time today. I especially like the buying activity after fluid emotional sell-off on small time frame.

Trading is so damn hard!!! At least we have found our setup to trade with. Next step is to really trust it and trade with eyes close. Trading is also fascinating, we learn everyday. Eventually, it will pay off. Let today be another lesson to learn...

 

Congratulations on a winning week
Anyone who reads your story here can't help but learn from it. I admire your willingness to:

1. Research methods and tirelessly work on your approach.
2. Ask your self hard questions and dig for their answers.
3. Avoid self criticism and self doubt, steering clear of those mental traps.
4. Uptake a lot of good advice and work to integrate it into your trading.

I hope you have a great weekend, for sure you've worked hard this week and earned time off for good behavior (and good results)

 

Hi Matcha,

Yes, you are right that trading is so damn hard yet so fascinating!!!!!

I really like your attitude. Your hardwork will pay off!!!!!

--po

 

Today's YM chart including the VWAP plot and volume profile. Towards mid/late afternoon price reversed to mean... pretty well. Pulled down from VAH and up from VAL towards the VWAP.

 

Nod, while I'm probably not the best person to give you trading advice (if you want to know it all about freezing in the headlights, then I'm the guy you want to talk to, though ), I'd recommend increasing your size - paradoxical as it may seem. Then once, you continue to trade successfully the setups you deem the "best", you will find it way easier to start trading with minimum size the setups you currently have qualms about. You'll still leave some money on the table (by not sizing all trades equally), but you'll have a smoother equity curve - and an increase in profits bigger than your increase in size.

I think you're planning to size up on Robo-Nod instead, but while Robo-Nod will - if your system holds in its actual implementation, which I'm sure it will - have a higher expectancy, I'm positive you, the one and only real Nod, will still have a higher profit factor (which is so insanely high it would have got you burned as a witch not that long ago ). <del>IMHO</del> IMNSHO you'd be better served by gradually sizing up your discretionary trading while implementing Robo-Nod with smaller size (and possibly more markets and timeframes).

(Sorry for the intrusion, Match, keep it up!)

 

Sending you a PM to keep the intrusion minimal here

 

NoDoji Matcha Bolimomo

To you all,

I'm reading and listening to your work daily and enjoy
reading your conversations about the markets. ( YM )

Please keep up the good work. Thanks!

perr

ps I'm one of your fans. The three of you.
Matcha your doing fine.

 

Matcha,
You are indeed a unique individual, Great job. I,m sure you will be (if not already) CP before you know it!

Your first trade, the short: I said in my last post "I always figure something stopped the rally, and if I don't know what it was (YH, 3DH 5o%fib) how do I know the resistance was penetrated"? I believe you found a perfect example of resistance becoming support. That level, 10500 was a major player every day last week! Monday it was resistance Friday it was support. I was happy to see you only took one shot at a short.

Your longs,
Quickly re-asset the situation, I re-entered. Hesitation ? What hesitation! I believe this is an excellent example of being on top of your game. That 10500 level held off two attempts and you saw the reversal coming. It's to bad you were shaken out on the first long (that fine line of stop placement) on the third attempt. Not all trades work, but damn it, I want to be on board for the retrace, you go girl. And the target... What could anyone say, nothing! Picture perfect, I looked at my chart and saw the .618 @ 550 and VWAP @ 548. I think my three bars read 50 48 and 51.

I hate long slow drawn out trades, especially on a Friday afternoon.

Congratulations, profitable LIVE trading, What a thrill!

 

How foolish I am today. Did not extract anything from market.

First trade was D/B pullback buy at the open. Stopped out at -10Pts loss. Then market came down to Pivot Point, rapidly went back up. I didn’t enter. The 2nd entry-pullback on 2min chart happened very fast too. I didn’t have time to react. Market made its parabolic move up. It moved up 70Pts.

Market retraced back down to YTD’s high at around 9:30PST. I was waiting for a pullback at confluent zone 10616 ( 38.2%Fib, VWAP, S/R etc), then look for a D/B or a W bottom at the zone to enter. But market did not retrace deeper. At 10:15, it formed a bottoming tail, a W bottom. This time I went in. Then market continued to move slowly… I was out too since I thought the momentum isn’t supporting the move….

Then market shoots to the moon….

This is the 2nd time I missed the trend day. The only thing I improved today is only “Think Bullish”.

I will catch some profits up next time…

Today’s PnL: -$30. 2 trades