Had to delete the post becasue I uploaded the wrong picture.... I entered short again 1 fesx and took another stop, reached my max daily loss, and it was very hard to stop, but I managed to switch off, market was in congestion on important res and this could kill me.
TOTAL NUMBER OF TRADES: 5 3 fesx = - $141 2 NQ = -$50 commission: $25 TOTAL: -$216 bad day, I made 2 real trades and 3 out of rules trade, the 2 real trades went both in gain at around +$100 but I didn't take profit and I did end up with -$216, very hard... The only positive thing is that I managed to stop trading at around my max daily loss ($200).
are you always fading the trend at S/R ? Do you trade breakouts with the trend ? How about posting a chart with notes and showing your exact entry and why you entered at that time ?
shorted 1 fesx again, this is impulsive trading, the resistances seams to hold now, but actually it would have been better to have the DAX on a resistance too... moved my stop at BE + 1 as I'm gaining $85, but it's too early, I should wait at least $100...
added short one contract to a winner at a certain point, and closed a little lower with both contract in gain. will post in the next trad how much I made, since tradestation is doing a mix of yesterday trades and todays trades..
so far I'm up just $99 -$15 commissions... first trade was - E40 second was +E110 now waiting for the dax to go on the resistance too and I'll decide if to go short again..
Hi jas_in_hbca, thanks for your post, sometimes I fade sometimes not, it depends on the timeframe you consider, I use mainly long term S/R from daily-weekly-monthly charts and try to trade intraday with them, but I also connect high and lows of the last few bars on daily-weekly-monthly charts, so it is a mix of long term and short term S/R, so it happens often that I'm fading the intraday trend but not the main trend, I never tried to trades breakout, yes I know what you mean, trading breakout with trend helps trading with trend. this last few days I was very nervous with my trading and I found myslef out of control, and must fix it... anyway I saw on your old posts that you trade NQ intraday, I really have problems with when to take profit, I'm more inclined to letting my trades run, but often I see profits and give it all back like yesterday, so maybe trading with 2 lots would be better, but I'm not sure this is a good thing becasue with two lots when you are stopped you lose twice, maybe you have some advice on how to take profit. I should post charts with comments, but there is a problem with tradestation it doesn't let me write on a chart with my indicators running, I will fix it and try to do it.
shorted 1 fesx, as FDAX on RES, DAX near RES and ES on short term RES I entered the trade with a limit order instead of market order as usual.