Long 34.75, Stop 31.75
Another Journal
- Thread starter garage sale
- Start date
Stopped Out -$60
Possible short set-up forming. If the next trade is a loss then I'm done for the day.
Sold 29.25, Stop 32.
IB chart is down so will keep the stop here, without trailing.
Stopped at 32.25. total loss for the day $120. Need to look at alternatives for charts.
I got stopped out of the last trade at the very high tick. The chart is up and there is a nice short set-up.
Sell 21, stop 24.5.
Sell 21, stop 24.5.
Exited at 14.50 and after few minutes entered short at 13.25 and stopped out at 16.25. I was down $120, up $10 and now end the day down $50 excluding $20 commissions.
The last trade was a mistake because ADX was >75 and I've seen reversals more than once at this level. I guess live and learn.
I am going to add one more filter to it, Keltner Channel 65 with 1 std.
This should act as a confirmation of the trend. Basically I want the entire bar to be above or below the channel for a trend confirmation. Had I done that today, this would have kept me out of the first losing trade.
This should act as a confirmation of the trend. Basically I want the entire bar to be above or below the channel for a trend confirmation. Had I done that today, this would have kept me out of the first losing trade.
I finally got the Ninja trader charts. The way it calculates ADX is different than the way IB does....not sure why. I entered a short trade at 16.25 and got stopped out at 18.25. In the Ninja charts ADX > 40 but in IB charts it was around 28.