That was my point in saying that I shouldn't have been looking for the reversal. My plan netted alot of points today granted today there were alot of points to be made but your plan is only good if you have the confidence to follow it and today I left alot of points on the table. It's not what your getting but sometimes it's what your missing!
here's a 1 minute and a 500 tick chart, there was not much difference today but if you notice when there is less trading activity on the tick chart you get less bars, so part of the reason I like the 500 tick better is because no trading activity means less bars and no reason to trade or reason to get out
Here is my chart for today, another great day for the sla. looking forward to Wednesday when I can trade and observe live
here's the same chart only with the 1 minute. not much difference. the thing all of us need to understand is that cash is a position
Pretty choppy this morning but if you look since the open we have had mostly lower highs which has kept me mostly on the short side so far
The highest volume area for the last 2 days is at the low for today so I will be looking for a test of todays low
maybe I am paying too much attention to where all of the trading is taking place but 3630 could be in the cards if we get a higher low or a double bottom
So the lesson I learned from today is plain and simple follow the rules period. Today was the 1st day in 4 weeks I've been negative on the sim and it came down to me anticipating instead of reacting and following my own rules, it had nothing to do with my plan or me spending more time observing, the thing that I get from studying my charts after hours is looking to see what the market does at certain levels and what my plan would have me do when certain things happen, no amount of screen time watching will help me develop a better plan than the one I have. Just discipline.
the afternoon , I really wish my job allowed me more time but that's how I make my living and I really wonder how people spend time on a demo 5 days a week and still support their family