Hi, Ok. interesting. Not from a technical viewpoint (it's not a market issue) but from an emotional point of view. For example two times -1.5 in a row is not so funny after you've just made +4. It's interesting to analyse. For example I notice my biggest gains come after the biggest losses so I am trying to reproduce this but then without the losses/mistakes I was just wondering if I was the only one who sometimes has losses of 3.5 points. (and one time I even reversed and had another 3 pt loss) I am really forward to the day where we can wash with a loss of max 3 ticks..... regards, Ivo
Well here is mine -- Only the morning was real-time, too many distractions in the afternoon. In hindsight, looking at the YM, maybe that was a good thing...
The long red bar also broke through the RTL of the existing 'tree' channel on increasing volume. (blue on Spyders chart). Perhaps not most typical of a FBO/fanned out pt3. Things where looking pretty 'choppy' already to me. Lots of formations long bars with lots of overlap so while I did not anticipate a point 3 there I was not overly surprised. The worse you could have done was sell the BO of the blue LTL or the close of the red bar. At some stage you would reverse and be on the right side of +VE's to the close There where many better scenarios where you would of picked up an extra point or two. Even with fine tools I think you would have had to be pretty nimble to really nail the turn. You can get a long way with the 5 min ES & PRV. Cheers.
I did even worse than that. I bought the BO at the top minus one tick. Then ignored the FTT at the next bar and then reversed at the close of the red bar...... That must have been the whipsaw of the day lol. I quickly reversed after that when I noticed I was wrong and made up for all + a little more. regards, Ivo
Ivo, Blowfish, Ang, etc. thank you all for your help. I annotated the channel from 1:25pm (magenta channel on my chart) but then I also drew in a steeper channel starting at 2:25pm (aqua channel). I dont see this second steeper channel on anyones chart...Is this channel valid? I saw the 3:10pm high volume RTL breakout and thought I was all set (LOL) but then..... I viewed the as breaking out of the BLUE channel on my chart on increasing RED volume... Didnt anticipate the next bar at all. After reviewing comments and charts it becomes a little more clear. The dotted lines are hindsight trendlines. Thanks again!!
Actually APA is pretty straightforward in theory. it says always put a stop right after your entry 1 tick away twice the size. it does sound crazy though. Did anyone try this using a trading program? RoughTrader?