Search results

Thanks Boli, I got it... No wonder I did poorly when the market is trendless and range bound. For now, I will keep my bullets for mainly Level 1 and some Level 2 trades. And take a nap in Level 3 situations rather than trying to pick quarters on the highway. :) --po

Hi Matcha, Indeed today was a really "Garbage" day for me too. It was choppy and stuck in a narrow range in the first 3/4 of the session. An environment suitable for advanced trader, not me. Then when the market broke to the downside, I did take advantage of it to a certain extent but when it...

Hi Boli, Thank you very much for the insight about using the momentum indicators in both range bound and trending markets. I shall use them accordingly. I will also take note on the seasonal factor and how to trade the breakouts. --po

Hi Matcha, I did not do very well today either, both my PnL and winrate were lower than yours. :mad: I started out having a winning trade and then towards the end of the session, I got trapped into the tight range bound market and got stopped out many times. I got to be more careful in this...

Hi Matcha, It's great that you detailed your thought process to decide whether to trade or not to trade. As for the talk about indicators, I think you did the right thing to narrow it down and keep things SIMPLE. When I first started, I have too many indicators on my charts. They kept me...

Hi Matcha, No worry, the weekend is here for a break to digest what we have learned. And to watch your favorite movies and TV shows. :D :D :D I share exactly the same feeling on the more I learn the more confusion it can be. It is common to look at TOO MANY things - indicators, and other...

Thanks a bunch NoDoji. I think I will take a lunch break during that time period between 1200 and 1330 e.t. if I see things start grinding to a halt or take a nap like what Matcha did sometimes. :D :D I think Matcha doesn't normally trade during the lunch doldrums hour also but I might be...

Thanks Matcha. I agree that we should work on "let winners run longer". Looking back at my worst PnL days, I seemed to always did pretty bad when trading in a narrow range. No matter how hard I try, I seemed to be whipsawed and got chopped into pieces :( :( I am glad that we can put...

Thanks Boli for the day's end analysis for a day like this. I am going to digest this further. I will pay attention to the o/n activities and include them into my trading plan for the day! --po

Hi NoDoji, You must have read my mind. I missed the first 30 minutes and then I become comatose for the rest of the day trading aimlessly. When you say the midday mush, do you mean to avoid the lunchtime, say from 1200 to 1400 hour e.t.? How do you set buy/sell stops in advance? Do you...

Hi Matcha, Ditto for a bad day in PnL. My winrate was 33%. :mad: I think today was mostly stuck in a pretty narrow range if you take away the first half hour. ES was trading mostly within a 5 point range. One has to pick the top and the bottom with a sniper precision to capture a descent...

Hi Matcha, I really like what you said. We should (at least for the moment) join the early fight only, riding the with-trend trades and let the top warriors battle out at the extremes!!!! :) :) :) --po

Hi Matcha, You are smart for not making any trades today. I went the complete opposite and ended up struggling with the mixed signals for the most part of the early session. I started the day trading way too many times losing quite a bit. Then I caught the downtrend after Bernanke's speech...

Thank you Boli. I am still working on my strategy to keep losses small and let profits runs BIG. It is my "enemy" #2 after the countertrend trades in a strong market. I can't seem to be able to hold a position long enough to capture the BIG profit. Sometimes I feel like I am a chicken. :mad...

Thank you Sis and Boli, You two are great trading warriors. Hey Boli, I second that - you should write a book on that with a title "Trading Sucess the Sun Tzu's Way". :) --po

Hi Matcha, Not to be discouraged. We all make this kind of mistakes. The countertrend setups in a strong trending market is our #1 "ENEMY". What we need to do is to write this into our trading strategies/rules that we will exercise all our will power and discipline to avoid trading...

Thank you ~~~. I will try to apply the philosophy and treat the other side of my trades my "enemies/opponents". My weapons are my strategies, believe it and apply it with confidence and CONSISTENCY.... Consistency is the hardest part for me.... --po

Hi Matcha, Thank you very much for your reply and the excellent thorough analysis. It is very clear to me now on your Trade B. Excellent background observation in #1 ~ #3. Your observation #4 and #5 was right on the money. I totally missed the stochastic/price divergence at 11:00 pt. Now I...

Hi Matcha, I think you did really well today in the PnL. I am more disciplined today. Having only 8 trades, made 3.25 points on ES. I had one SHORT trade that I lose right at your Trade B. You did the right thing to go long. Do you remember why you took that long trade? I still no sure why I...

:) :) It's "TRADING" between the superior masters!!!!!