Awash's Journal
- Thread starter Awash
- Start date
After a long break I felt good about trading before the market opened. I think I was too ready this morning to trade that I started off wrong but it was a good wake up call. The rest of the day I was cautious and conservative. I missed a few opportunities but overall Iâm happy I was on both sides of the market. My patience was a bit thin on two trades but I was able to recover later in the session.
Trade#1 â [Long 1042.5 9:32 EST & Exit 1040.25 9:39 EST] [ P/L: - 2 ] Started the morning off too quickly and didnât wait to get a gauge of what direction price would move. Didnât think the market would sell-off because itâs been moving higher lately. No divergence signal! This trade was a good wake up for me because it was a quick loss.
Trade#2 â [Long 1039.50 9:47 EST & Exit 1039.75 9:53 EST] [ P/L: + .25 ] Good entry on divergence signal but I reset my stop too early to one tick above BE. I didnât have the patience for this trade too develop. I need to learn to wait it out at least ten minutes.
Trade#3 â [Short 1042.50 11:05 EST & Cover 1042.25 11:17 EST] [ P/L: + .25 ] Poor entry on divergence signal on 1-minute chart; should have entered at 1043.25. I waited a reasonable amount of time but nothing developed and decided to exit. A little more patience would have yielded a better profit but Iâm happy with the outcome. I waited 12 minutes this time!
Trade#4 â [Short 1043.00 12:45 EST & 1042.00 13:09 EST] [ P/L: + 1 ] Good divergence signal and timing with my exit. I had an initial target of 1041 but decided to cover after price lingered around the 1042 area. Better patience on this trade considering lunch hour was approaching.
Trade#5 â [Short 1045.75 14:04 EST & Cover 1045.75 14:21 EST] [ P/L: 0 ] Took first signal after a strong move up. I realized this market wasnât going to quickly retrace so I covered at my first opportunity and decided to wait for more confirmation. Good trade!
Trade#6 â [Short 1045.75 14:40 EST & Cover 1044.75 15:02 EST] [ P/L: + 1 ] A bit early entering on this trade but I wanted to be short because either the ES was going to take strong dive or stay in the same area. I had a two point profit target in mind but had to readjust it accordingly.
Trade#1 â [Long 1042.5 9:32 EST & Exit 1040.25 9:39 EST] [ P/L: - 2 ] Started the morning off too quickly and didnât wait to get a gauge of what direction price would move. Didnât think the market would sell-off because itâs been moving higher lately. No divergence signal! This trade was a good wake up for me because it was a quick loss.
Trade#2 â [Long 1039.50 9:47 EST & Exit 1039.75 9:53 EST] [ P/L: + .25 ] Good entry on divergence signal but I reset my stop too early to one tick above BE. I didnât have the patience for this trade too develop. I need to learn to wait it out at least ten minutes.
Trade#3 â [Short 1042.50 11:05 EST & Cover 1042.25 11:17 EST] [ P/L: + .25 ] Poor entry on divergence signal on 1-minute chart; should have entered at 1043.25. I waited a reasonable amount of time but nothing developed and decided to exit. A little more patience would have yielded a better profit but Iâm happy with the outcome. I waited 12 minutes this time!
Trade#4 â [Short 1043.00 12:45 EST & 1042.00 13:09 EST] [ P/L: + 1 ] Good divergence signal and timing with my exit. I had an initial target of 1041 but decided to cover after price lingered around the 1042 area. Better patience on this trade considering lunch hour was approaching.
Trade#5 â [Short 1045.75 14:04 EST & Cover 1045.75 14:21 EST] [ P/L: 0 ] Took first signal after a strong move up. I realized this market wasnât going to quickly retrace so I covered at my first opportunity and decided to wait for more confirmation. Good trade!
Trade#6 â [Short 1045.75 14:40 EST & Cover 1044.75 15:02 EST] [ P/L: + 1 ] A bit early entering on this trade but I wanted to be short because either the ES was going to take strong dive or stay in the same area. I had a two point profit target in mind but had to readjust it accordingly.
u have a very fluid style meaning very discretionary. you're gonna be one of those "super-nimble" scalper dudes. i can see it coming. <--- not a criticism
as far as moving stop to BE. I move it as soon as I'm X points in the profit, actually X = my stoploss size. If it gets there in 2 mins great if it gets there in 1/2 hr that's sucky and makes me a nervous wreck but nevertheless the stop wont be moved to BE until that happens.
different strokes for different folks?
as far as moving stop to BE. I move it as soon as I'm X points in the profit, actually X = my stoploss size. If it gets there in 2 mins great if it gets there in 1/2 hr that's sucky and makes me a nervous wreck but nevertheless the stop wont be moved to BE until that happens.
different strokes for different folks?
Instead of moving stop to BE, I just bail with the current profit
Doesn't matter how long it takes either; I will wait it out for 30...sometimes 40 seconds 
-Fast
Today was a good day for trading, however I feel as if I didnât make the best of it. A lot of movement early on and later in the afternoon session and I missed several shorting opportunities.
Trade#1 â [Long 1050.00 9:49 EST & Exit 1050.75 9:59 EST] [ P/L: + .75 ] Good divergence signal but price didnât want to move up. I had an initial target of 1051.50 but there was considerable resistance at 1051. Exit at 1050.75.
Trade#2 â [Short 1047.25 11:04 EST & Cover 1047.00 11:15 EST] [ P/L: + .25 ] Premature entry and confirmation didnât come on my 1-minute until 11:07 EST, I should have entered at 1047.75. Decided to cover this trade after volume dried up and small price movements.
Trade#3 â [Short 1047.25 11:19 EST & Cover 1047.00 11:30 EST] [ P/L: + .25 ] Divergence still in play and attempted re-entry again after waiting for good confirmation but got filled at a horrible price. I was looking for 1047.75 but couldnât get it. I prematurely covered this position on error. For some reason a buy order was still in que at 1047 this exit was a complete error. My initial target was 1 point.
Trade#4 â [Short 1047.50 12:28 EST & 1047.25 13:09 EST] [ P/L: + .25 ] Took another divergence signal (double top) but it quickly reversed and I missed the opportunity to cover (see link). I decided to hold this trade for a bit because my stop wasnât threatened and not to mention divergence was still in play considerably. Several times I thought about reentering at a higher price 1049. Covered 40 minutes later at the heavy support area of 1047.25.
Question: I need some good feedback on this one. Would you add to a position if you have a valid signal still in play and continuously developing? Over the last two weeks Iâve learned the hard way about adding to a losing position and how detrimental it can be; I subsequently made a rule not to add to a position ever. Well, I was wondering if I should be flexible with potential ADDs considering if a signal is valid. Before you respond analyze this link around the time I wanted to add at 1049 short. Notice the price/indicator divergence.
Link: http://www.ttrader.com/mycharts/display.php?p=15680&u=aaronwash&a=Aaron\'s Charts&id=664
Trade#5 â [Short 1046.25 15:52 EST & Cover 1045.25 15:59 EST] [ P/L: + 1 ] This was my last attempt of making something good out of this big day. Took last divergence signal of the day with a good entry and exit. I played it perfect for an in-of-day trade. Quick scalp made me feel good!
Trade#1 â [Long 1050.00 9:49 EST & Exit 1050.75 9:59 EST] [ P/L: + .75 ] Good divergence signal but price didnât want to move up. I had an initial target of 1051.50 but there was considerable resistance at 1051. Exit at 1050.75.
Trade#2 â [Short 1047.25 11:04 EST & Cover 1047.00 11:15 EST] [ P/L: + .25 ] Premature entry and confirmation didnât come on my 1-minute until 11:07 EST, I should have entered at 1047.75. Decided to cover this trade after volume dried up and small price movements.
Trade#3 â [Short 1047.25 11:19 EST & Cover 1047.00 11:30 EST] [ P/L: + .25 ] Divergence still in play and attempted re-entry again after waiting for good confirmation but got filled at a horrible price. I was looking for 1047.75 but couldnât get it. I prematurely covered this position on error. For some reason a buy order was still in que at 1047 this exit was a complete error. My initial target was 1 point.
Trade#4 â [Short 1047.50 12:28 EST & 1047.25 13:09 EST] [ P/L: + .25 ] Took another divergence signal (double top) but it quickly reversed and I missed the opportunity to cover (see link). I decided to hold this trade for a bit because my stop wasnât threatened and not to mention divergence was still in play considerably. Several times I thought about reentering at a higher price 1049. Covered 40 minutes later at the heavy support area of 1047.25.
Question: I need some good feedback on this one. Would you add to a position if you have a valid signal still in play and continuously developing? Over the last two weeks Iâve learned the hard way about adding to a losing position and how detrimental it can be; I subsequently made a rule not to add to a position ever. Well, I was wondering if I should be flexible with potential ADDs considering if a signal is valid. Before you respond analyze this link around the time I wanted to add at 1049 short. Notice the price/indicator divergence.
Link: http://www.ttrader.com/mycharts/display.php?p=15680&u=aaronwash&a=Aaron\'s Charts&id=664
Trade#5 â [Short 1046.25 15:52 EST & Cover 1045.25 15:59 EST] [ P/L: + 1 ] This was my last attempt of making something good out of this big day. Took last divergence signal of the day with a good entry and exit. I played it perfect for an in-of-day trade. Quick scalp made me feel good!
Awash, nice trades man...all profits! As far as adding to a position; I definitely plan on doing this once I increase size. As far as how/when to add; I would only add if the higher timeframes were still in the direction of my original entry. So, I would only add for trend-trades; not when playing counter-trend retracements, etc.
-Fast
-Fast
Awash
I looked through your journal near the beginning to see if I could find out what chart(s) timeframe you look at, but didn't see it. Sorry if I missed it:
What time frame(s) do you look at and what time frame do you enter from ?
I see a lot of comments about seeing divergence on your 1m chart and entering from there. If so, it would be great to post your 1m chart in the journal instead of the 3m.
Enjoying the journal.
I looked through your journal near the beginning to see if I could find out what chart(s) timeframe you look at, but didn't see it. Sorry if I missed it:
What time frame(s) do you look at and what time frame do you enter from ?
I see a lot of comments about seeing divergence on your 1m chart and entering from there. If so, it would be great to post your 1m chart in the journal instead of the 3m.
Enjoying the journal.