NQ Price Action Journal

That's too bad you have to stop at 11 lots of good opportunities to make money later in the day

 

I guess you are right, but I wasn't even in the mood so... But thanks for the advice.

 

Ok, today I finished refurbishing my trading plan. The objective was to write it thinking in traders behavior (I made my best effort but I know I could easily screw up).

It is in essence my interpretation of what has been discussed in the SLA threads and in chat, but then again my interpretation might not be the correct one.

Ok, that was the disclosure .

The plan is supposed to be backtested in the following days, and I will come up with my personal parameters that will fit my risk aversion and personal fears. Those will not be the same for other players so I do not plan on posting those.

All comments are welcome, if you are in the Chat, please take the time to give it a look and be as acid as you wanna be, if you are not in the chat, then perhaps what is written will sound like babble, but if you want to criticize it be my guest.

All trolls will be ignored.

 

Looks good Niko. Something that I believe that has been helpful to me in writing out my trading plan is the inclusion of chart examples. This helps keep my mind focused as it tends to become too creative if not given guidance.

 

Best of luck Niko looks good!

 

Thank you, I wanted to be as general as possible, therefore I avoided graphic references. There was an earlier version of the plan, posted in my journal that was way more specifi, but it led to pattern trading, so I will give this new approach a try.

 

Thanks, you will know if it pans out.

 

Hey Niko printed out your TP will read it later tonight. your work in the various threads and chat has been an enormous help to me . Every time I logged on you were there posting charts, asking questions , thanks for all your help.

 

Thanks Niko, it's really great to see someones Trading Plan. For me that is in general a work in progress and from my perspective you are facing the same problem I do: simplification.

I came to the conclusion that it might be a good idea to structure everything according to Wyckoffs basic "axioms" DB mentions over and over:

The first step for a trader is to determine the current trend of the market (global context).

The second step is to determine one's place in the current trend (further analysis - Levels etc.).

The third step is to determine the proper timing (criterias for entry).

Additionally one has "tools" or "helpers" like the 50% etc.

 

Thank you the triggers behind the plan are really simple : REVs, RETs and BOs. But I wanted to write something that tries to explain what is behind. I am looking for the why.