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dbtrader, Thanks for the insight!! Often, I find myself setting the same fixed stop ( of 2 points) as my exit. However, I do understand the importance of setting my stops per current market conditions. Please don't think I'm not taking this into consideration, because I am. Thanks...

A bit of a better trading day and I tried to place most of my trades with the trend. I need to still focus on entering without hesitating too long. In addition, I need to refine my continuation pattern setups. All input welcomed. I will elaborate more this weekend about the patterns I’m...

I started out focused on not making mistakes and it worked good until the afternoon. Trade#1 – Entered good off 1-minute chart (used verification card) confirmed on 3 minute but exited too early (no set profit targets). *Short 1061.75 - 10:26 EST *Cover 1060.75 - 10:38 EST [ P/L...

peterfigliozzi, Good input! Thanks again. How powerful are those divergences when compared to indicator divergence? Just curious, post when you have time to elaborate. Those longs were tough trades. However, you're right about exiting my short at 1070. When I make a mistake like enter...

Yesterday, was a completely poor trading session, actually one of my worst in a while. I know I need to reduce my errors in order to continuously make money in this market. I’m reposting my most frequent errors and will highlight them in my daily post from this point on, hoping it’ll...

Didn’t get the opportunity to post trades yesterday but it was an awful day for me. Trade#1 – Waited too late to enter, should have been short around 1071. All last week there proved to be considerable resistance in the 1070 – 1074 area and I didn’t take advantage of this...

Good trading day! I failed to act on several signals for the day but was able to take advantage of some. One thing I didn’t do today was trade 2 contracts, however tomorrow I will. I hope this will help with my premature exits and patience. Trade#1 – [Long 1062.75 10:12 EST & Exit...

Today was a better day and I’m happy with some parts of my trading and not so happy with the missed signals. I also need to play retracement patterns better but that’s something I’m working into my routine. Trade#1 – [Long 1065.25 9:30 EST & Exit 1066.25 9:37 EST] [ P/L: + 1 ]...

Peterfigliozzi, I was able to quickly review my trades via Camtasia Live recording and I missed the overall big picture at that time. My market breadth indices were still showing downside movement even though I had one-minute positive divergence. Today, I won't focus too heavily on my...

Peterfigliozzi, As to trade#3, I was following market exit rule#1. I started to see positive divergence on my 1-minute chart (which was a fake out). I still use both charts for entries and exits, however I'm learning to use my higher time frame charts more. I still haven't completely...

This morning I had a lot of personal distractions that resulted in me not making the most of my trades and it continued into the afternoon session. I’m not too happy with the way things turned out but tomorrow I’ll focus on continuing to eliminate my errors. Trade#1 – [Short 1070.00...

Traderkay, What do you mean? Comment on any trade from today!!!!!!!!! I don't understand why you wrote "gutfeel approach." Please let me know!!!!!

I didn’t place the best trades throughout the session today, nor did I manage them properly! Trade#1 – [Short 1067.25 10:16 EST & Cover 1068.25 10:19 EST] [ P/L: - 1 ] After waiting a while I decided to play in the chop and paid the price for it. Trade#2 – [Short 1068.75...

Sharkbait, The NASDAQ Adv/Dec Ratio is just the # of Advancing issues divided by the # of declining issues. It represents the first part of the formula for TRIN. Personally, I prefer not to use TRIN but I know a lot of traders that find it helpful. Before I knew anything about market...

Today I was a bit more focused with my trading, I was able to use my 3 minute chart for signals along side my 1-minute for entry (when necessary). I also used the 10 & 30 minute chart to confirm trend direction and things worked out great. There were several opportunities to enter either long...

This weekend I was able to reflect on my past trades and I'm looking forward to the next three weeks of trading before the holidays. I decided to discontinue live trading for the remainder of the year as this will give me the opportunity to focus on my most common errors. I'm also...

Amigasearch, ..........aside from watching the Cash indices ($DJI, $COMPX, $SPX.X, $NDX.X), I use roughly five market breadth indices to gauge overall market direction. I rank them in the following order. 1. NASDAQ Advance/Decline Ratio 2. TICK-NYSE 3. VIX 4. ES price chart only...

Fast, What’s up? Thanks for your comments. You're completely right! I've paper traded for over six months now and I've learned all sorts stuff. Currently, I have a general understanding of the mechanics and my system but there's no doubt that I need to learn more. Just to give you a...

Peterfigliozzi, Early on I broke it down and focused on s/r levels then on divergence setups, etc. But now I need to put it all together so I will not miss trades. It's imperative that I focus on all errors if I want to have some success. I'll try to do this over the next few weeks. I...

I will start reposting to my journal sometime this week.