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Awash's Journal
- Thread starter Awash
- Start date
WOW.
You shorted with the flow of the economic release at 10a.
I saw this divergence too but the news mania kept me out.
Often time too unpredictable for me.
Also, on the short late in the day, you got out right before the late day explosion to the upside. Wow, again.
Glad to see that you were more comfortable with being in the trades.
You shorted with the flow of the economic release at 10a.
I saw this divergence too but the news mania kept me out.
Often time too unpredictable for me.
Also, on the short late in the day, you got out right before the late day explosion to the upside. Wow, again.
Glad to see that you were more comfortable with being in the trades.
Quote from tradersaavy:
WOW.
You shorted with the flow of the economic release at 10a.
I saw this divergence too but the news mania kept me out.
Often time too unpredictable for me.
Also, on the short late in the day, you got out right before the late day explosion to the upside. Wow, again.
Glad to see that you were more comfortable with being in the trades.
Tradersaavy,
I had no other choice but to short on release of the economic data. It's always volatile but the techs were saying price would turn down and it did, even though the numbers were good. I was actually late entering!
As to that late day trade, in hindsight, it should have been for a quick scalp because it wasn't following through. Not to mention I got a long signal around 15:21 and avoided it. I guess I wanted to be short and as a result i completely ignored all other signals (that's something I want to resolve in the future).
The funny thing about that late day trade was another trader (Niha) picked up on the same long signal and executed quickly. I guess my short bias prevented me from taking the signal. The point I want to convey to you is, when a signal appears take it. You can always exit a trade if you don't feel comfortable.
As to how i felt in both trades, each trade made me a bit uncomfortable but that's part of trading. Over the next three weeks I plan to take a conservative approach until my comfort level increases. Whatever happens good luck with your trading!!
Attachments
I had a short bias on the day.
I don't know why I did, that's an old habit that snuck back in on me today. Shouldn't have a bias. Trade what is there.
Well, I do know why I did, actually.
I have been stalking the 60m for a longer term short and it had a nice reversal over the past couple days with today (11-5)looking like a nice bear flag ready to break.
Sometimes I focus too much on larger timeframes for my intraday trades.
http://www.ttrader.com/mycharts/display.php?p=16274&u=flashtrade&a=Daytrades&id=661&d=2
I don't know why I did, that's an old habit that snuck back in on me today. Shouldn't have a bias. Trade what is there.
Well, I do know why I did, actually.
I have been stalking the 60m for a longer term short and it had a nice reversal over the past couple days with today (11-5)looking like a nice bear flag ready to break.
Sometimes I focus too much on larger timeframes for my intraday trades.
http://www.ttrader.com/mycharts/display.php?p=16274&u=flashtrade&a=Daytrades&id=661&d=2
I started the day off wrong. I was incredibly hesitant, indecisive and lacked all forms of confidence. I couldnât place a trade to save my life and missed plenty of opportunities. Later in the session I was able to redeem myself with a few good trades.
Trade#1 â [Long 1046.00 11:06 EST & Stop 1046.25 11:13 EST] [ P/L: + .25 ] After missing four signals early on I just forced myself into the market on this trade off a mediocre divergence signal coupled with a good area of support. I reset my stop to early and it got hit. In hindsight, for the first trade I should have just scalped a quick point.
Trade#2 â [Long 1046.00 11:18 EST & Exit 1046.25 11:26 EST] [ P/L: + .25 ] Wanted to retest the lows again but it turned out price was incredibly choppy so I just closed my position.
Trade#3 â [Short 1046.00 11:18 EST & Exit 1046.25 11:26 EST] [ P/L: + 1.50 ] Excellent divergence signal and entry was perfect. Decided to cover after price stayed too long around my pivot of 1051.25 plus it didnât want to break through considerably.
Trade#4 â [Short 1057.50 15:47 EST & Cover 1056.50 15:50 EST] [ P/L: + 1 ] I wasnât going to take this trade but I just couldnât pass up a quick scalp. Excellent divergence signal and I entered off the 2nd lower high on stochastic & MACD (reliable). This was just a quick scalp as the trend wasnât going to completely turn around so late in the session.
See below for more trades
Trade#1 â [Long 1046.00 11:06 EST & Stop 1046.25 11:13 EST] [ P/L: + .25 ] After missing four signals early on I just forced myself into the market on this trade off a mediocre divergence signal coupled with a good area of support. I reset my stop to early and it got hit. In hindsight, for the first trade I should have just scalped a quick point.
Trade#2 â [Long 1046.00 11:18 EST & Exit 1046.25 11:26 EST] [ P/L: + .25 ] Wanted to retest the lows again but it turned out price was incredibly choppy so I just closed my position.
Trade#3 â [Short 1046.00 11:18 EST & Exit 1046.25 11:26 EST] [ P/L: + 1.50 ] Excellent divergence signal and entry was perfect. Decided to cover after price stayed too long around my pivot of 1051.25 plus it didnât want to break through considerably.
Trade#4 â [Short 1057.50 15:47 EST & Cover 1056.50 15:50 EST] [ P/L: + 1 ] I wasnât going to take this trade but I just couldnât pass up a quick scalp. Excellent divergence signal and I entered off the 2nd lower high on stochastic & MACD (reliable). This was just a quick scalp as the trend wasnât going to completely turn around so late in the session.
See below for more trades