I just saw your post after I entered mine lol. Not trying to keep myself honest as much as keeping a live journal so to speak & if it helps someone along the way that would be great....a nice way to give back. My AM post has S/R levels the way I see them and I use Pure Mkt Action or PA to help me make low risk trade entries. Once price gets near the areas I have determined, I pay close attn to the PA to help me with entries. This is a bit new to me and will take some time to get efficient at it but I am trying
KDASFTG, After reading your post again I'd like to add another though. I was taught that when the major mkt participants are buying....so should I and vice versa. I'm not being a wise ass either lol. I have found that by keeping things very simple it helped me see though a lot of the BS on a chart. It's a very simple concept but I have to take the long route before I deleted all the indicators and lines on my chart. I'm really only interested in price and volume.....and not necessarily in that order. How the market reacts to the bigger picture areas on a smaller TF chart is what I'm interested in. I'm not sure if I can just lay it out in a conventional trading plan kinds way but I will do my best to explain as I go if that helps. It is hard to get into a trade and write down the exact "in the moment" reason for the entry or price point while trying to manage a position but it is all based on the bigger picture areas. As I am writing this post I can see the 81.75 area being tested as it was was a hi vol area between 11:20-11:40 this AM but 83 was an area i chose this AM as u can see from my post. So i don't just place a buy or sell order there because I have that area on my radar but I instead check the PA as we approach these areas.. Hope this makes some sense
vol associated with a move up would have casued me to tighten my stop pretty quickly... small loss or BE trade . I can always re enter
as u can see better/ safer area to enter but again the risk is missing the trade. That then becomes a matter of risk tolerance and money management. Even if I had taken an 82 entry L, the risk was 7 tics but for my personal style, when I did not see the PA I was looking for when I entered the trade I would tighten the stop or just bail out. I can always re enter as I mentioned
91-92 area next? I shorted 91 yest and didn't add on above...took a small loss. I re shorted 91.75 and had a pretty nice trade...unfortunately I didn't hold on for the big ride but that's trading. Being involved with that area yesterday...when $$ is on the line...it really helps you get a feel for the PA, imo. So I am looking to see what PA looks like if we retest
ES....S 90.25...Count Trend scalp trade... need to watch the stops. I got +1 while typing so it's a free trade at this point and I can relax a bit
being as it's a CT trade in a strong trend I would usually be all out or at least 3/4 of my position....stop at entry now
ES....S again at 90 no vol on the attempted rally even tho I wanted to see a push a little bit higher initially...tough spot here