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Awash's Journal
- Thread starter Awash
- Start date
Are you trading live now? I mentioned this before, but Yes.
I am surprised to see that you don't use an indicator for divergence anymore. Please tell me why, ELABORATE! Subtracting my stochastic indicator from my charts has helped my trading immensely. I know longer depend on it to turn up or down before entering. Consequently, I'm able to enter as price confirms the direction. It's much faster because I don't have to wait until it diverges....
Pure S/R now ? Basically yes, I have a breakout strategy also but I prefer to enter short when there's weakness at Resistance and Long when there's strength at support. In short, my setup involves more than just entering at s/r!
What do you use for S/R ? Just pivots or high/low or trendlines ? I prioritize my support and resistance numbers in the following order.......
1. premarket High & Low
2. Prior Day High & Low (yesterday or any previous day as necessary)
3. Floor Pivots.
I do use trendlines but not for support & resistance.
Are you still using the 30m chart for bigger picture ? No! I watch 3 charts timeframes.
1. Daily - to gauge overall market trend
2. 10 Min - to gauge intraday big picture
3. 3 Min - trading signals
Looks like your trades are doing well so far. My trades are below average. I have a lot of things to work out in order to get where I want to be. It'll be a continuous learning process. I will elaborate a bit more in another post.
Also looks like you have taken some breakout/down trades. Yes, I have a breakout strategy but it needs some work too.
I am surprised to see that you don't use an indicator for divergence anymore. Please tell me why, ELABORATE! Subtracting my stochastic indicator from my charts has helped my trading immensely. I know longer depend on it to turn up or down before entering. Consequently, I'm able to enter as price confirms the direction. It's much faster because I don't have to wait until it diverges....
Pure S/R now ? Basically yes, I have a breakout strategy also but I prefer to enter short when there's weakness at Resistance and Long when there's strength at support. In short, my setup involves more than just entering at s/r!
What do you use for S/R ? Just pivots or high/low or trendlines ? I prioritize my support and resistance numbers in the following order.......
1. premarket High & Low
2. Prior Day High & Low (yesterday or any previous day as necessary)
3. Floor Pivots.
I do use trendlines but not for support & resistance.
Are you still using the 30m chart for bigger picture ? No! I watch 3 charts timeframes.
1. Daily - to gauge overall market trend
2. 10 Min - to gauge intraday big picture
3. 3 Min - trading signals
Looks like your trades are doing well so far. My trades are below average. I have a lot of things to work out in order to get where I want to be. It'll be a continuous learning process. I will elaborate a bit more in another post.
Also looks like you have taken some breakout/down trades. Yes, I have a breakout strategy but it needs some work too.
Bad start and poor finish! Placed too many high-risk trades outside of the daily plan without a real signal. For some reason I wanted to be right today.
1. Short 1140.50 @ 09:43 EST Stop 1141.75 @ 09:48 EST Stop: 1141.75 Target: 0000.00 P/L: - 1.25
2. Short 1140.75 @ 09:55 EST Stop 1142.00 @ 10:13 EST Stop: 1142.00 Target: 0000.00 P/L: - 1.25
3. Short 1141.50 @ 10:26 EST Cover 1141.25 @ 10:39 EST Stop: 1142.75 Target: 1139.50 P/L: + 0.25
4. Long 1132.00 @ 15:08 EST Exit 1133.25 @ 15:23 EST Stop: 1130.75 Target: 1133.25 P/L: + 1.25
1. Short 1140.50 @ 09:43 EST Stop 1141.75 @ 09:48 EST Stop: 1141.75 Target: 0000.00 P/L: - 1.25
2. Short 1140.75 @ 09:55 EST Stop 1142.00 @ 10:13 EST Stop: 1142.00 Target: 0000.00 P/L: - 1.25
3. Short 1141.50 @ 10:26 EST Cover 1141.25 @ 10:39 EST Stop: 1142.75 Target: 1139.50 P/L: + 0.25
4. Long 1132.00 @ 15:08 EST Exit 1133.25 @ 15:23 EST Stop: 1130.75 Target: 1133.25 P/L: + 1.25
Attachments
Wasn't able to extract profits from the market but I know what I need to work on.
1. Was late witht the entry and should have been short near my Pivot. I realize I need to tweak my entries a bit.
Short 1134.25 @ 10:47 EST Cover 1135.00 @ 10:57 EST Stop: 1135.50 Target: 0000.00 P/L: - 0.75
2. Price retested pivot again but I didn't get short near 1136, my stop should have been tighter and I should have covered my short when price failed to continue lower. Also, I need to adjust my entries a bit.
Short 1134.75 @ 11:13 EST Stop 1136.75 @ 11:43 EST Stop: 1136.75 Target: 0000.00 P/L: - 2.00
3. Target too large considering current market conditions. Enrty could have been better around 1137.25, I'm trying not to wait until I see price trade lower.
Short 1136.50 @ 14:23 EST Stop 1136.25 @ 14:46 EST Stop: 1138.00 Target: 1134.00 P/L: + 0.25
1. Was late witht the entry and should have been short near my Pivot. I realize I need to tweak my entries a bit.
Short 1134.25 @ 10:47 EST Cover 1135.00 @ 10:57 EST Stop: 1135.50 Target: 0000.00 P/L: - 0.75
2. Price retested pivot again but I didn't get short near 1136, my stop should have been tighter and I should have covered my short when price failed to continue lower. Also, I need to adjust my entries a bit.
Short 1134.75 @ 11:13 EST Stop 1136.75 @ 11:43 EST Stop: 1136.75 Target: 0000.00 P/L: - 2.00
3. Target too large considering current market conditions. Enrty could have been better around 1137.25, I'm trying not to wait until I see price trade lower.
Short 1136.50 @ 14:23 EST Stop 1136.25 @ 14:46 EST Stop: 1138.00 Target: 1134.00 P/L: + 0.25
Attachments
I was hoping to start this day off on the right foot but couldn't get the follow-through I wanted.
1. Decided to short as we traded through the opening low of 1137 (NQ was in clear downtrend). We bounced on low volume at S1 but I reset my stop too early out of nervousness (for what reason I don't know).
Short 1136.00 @ 10:16 EST Stop 1136.00 @ 10:43 EST Stop: 1137.25 Target: 1133.50 P/L: + 0
2. Awful trade and the worst of the month so far. I sold into S3 after hesitating as price traded below the LOD of 1125. I should have passed considering we've been ranging between 1122 -1146 for over two weeks now. This was just a completely disastrous, low probability trade and I wasted money for no reason.
Short 1123.00 @ 13:52 EST Cover 1124.00 @ 13:57 EST Stop: 1124.25 Target: none P/L: - 1.00
3. Took long signal and wanted to finally squeeze some profits. This trade lined up nicely and I entered on time, set stop and profit target but there were hundreds of contracts in front of me at 28.25. Sure enough I reset my stop prematurely and ended with zero.
Long 1126.25 @ 14:47 EST Stop 1126.25 @ 15:01 EST Stop: 1125.00 Target: 1128.25 P/L: + 0
There are tons of things I need to work on and today was definitely and eye opener.
1. Decided to short as we traded through the opening low of 1137 (NQ was in clear downtrend). We bounced on low volume at S1 but I reset my stop too early out of nervousness (for what reason I don't know).
Short 1136.00 @ 10:16 EST Stop 1136.00 @ 10:43 EST Stop: 1137.25 Target: 1133.50 P/L: + 0
2. Awful trade and the worst of the month so far. I sold into S3 after hesitating as price traded below the LOD of 1125. I should have passed considering we've been ranging between 1122 -1146 for over two weeks now. This was just a completely disastrous, low probability trade and I wasted money for no reason.
Short 1123.00 @ 13:52 EST Cover 1124.00 @ 13:57 EST Stop: 1124.25 Target: none P/L: - 1.00
3. Took long signal and wanted to finally squeeze some profits. This trade lined up nicely and I entered on time, set stop and profit target but there were hundreds of contracts in front of me at 28.25. Sure enough I reset my stop prematurely and ended with zero.
Long 1126.25 @ 14:47 EST Stop 1126.25 @ 15:01 EST Stop: 1125.00 Target: 1128.25 P/L: + 0
There are tons of things I need to work on and today was definitely and eye opener.
Attachments
Awash:
I hope it is alright to make a suggestion. If not please have the moderator delete the post.
I noticed that I started to improve when I shifted from 5 min bars to 15 min bars. Also I noticed that my approach improved when I started to look at the way that volume affects price. I don't want to go into too much detail, but perhaps some of my previous posts could be of help to you. Good luck in the markets. Steve46
I hope it is alright to make a suggestion. If not please have the moderator delete the post.
I noticed that I started to improve when I shifted from 5 min bars to 15 min bars. Also I noticed that my approach improved when I started to look at the way that volume affects price. I don't want to go into too much detail, but perhaps some of my previous posts could be of help to you. Good luck in the markets. Steve46
Again, I just wanted to get off on the right foot.
1. Price retested LOD and bounced, good entry & target. I like quick trades like this!
Long 1124.50 @ 10:07 EST Exit 1126.25 @ 10:10 EST Stop: 1123.25 Target: 1126.25 P/L: + 1.75
2. Price failed to close above my 1128.75 resistance area (pre-market calculation), entry was descent but I was a bit impatient with the exit. My initial risk was small (3 ticks) compared to my target however, I reset my stop and it got hit. Talk about impatience!
Short 1128.00 @ 10:45 EST Stop 1128.00 @ 11:11 EST Stop: 1128.75 Target: 1126.00 P/L: + 0
I'm done for today!
1. Price retested LOD and bounced, good entry & target. I like quick trades like this!
Long 1124.50 @ 10:07 EST Exit 1126.25 @ 10:10 EST Stop: 1123.25 Target: 1126.25 P/L: + 1.75
2. Price failed to close above my 1128.75 resistance area (pre-market calculation), entry was descent but I was a bit impatient with the exit. My initial risk was small (3 ticks) compared to my target however, I reset my stop and it got hit. Talk about impatience!
Short 1128.00 @ 10:45 EST Stop 1128.00 @ 11:11 EST Stop: 1128.75 Target: 1126.00 P/L: + 0
I'm done for today!
Attachments
Was a bit impatient later in the session.
1. Short 1118.00 @ 09:50 EST Stop 1119.50 @ 09:54 EST Stop: 1119.50 Target: 1115.50 P/L: - 1.50
2. Short 1117.25 @ 11:07 EST Cover 1115.25 @ 11:10 EST Stop: 1118.50 Target: 1115.25 P/L: + 2.00
3. Short 1113.25 @ 14:29 EST Cover 1114.00 @ 14:33 EST Stop: 1114.25 Target: unknown P/L: - 0.75
4. Long 1114.25 @ 14:33 EST Exit 1114.25 @ 14:46 EST Stop: 1113.00 Target: 0000.00 P/L: + 0
5. Long 1117.00 @ 15:08 EST Exit 1117.25 @ 15:29 EST Stop: 1115.75 Target: 1119.50 P/L: + 0.25
1. Short 1118.00 @ 09:50 EST Stop 1119.50 @ 09:54 EST Stop: 1119.50 Target: 1115.50 P/L: - 1.50
2. Short 1117.25 @ 11:07 EST Cover 1115.25 @ 11:10 EST Stop: 1118.50 Target: 1115.25 P/L: + 2.00
3. Short 1113.25 @ 14:29 EST Cover 1114.00 @ 14:33 EST Stop: 1114.25 Target: unknown P/L: - 0.75
4. Long 1114.25 @ 14:33 EST Exit 1114.25 @ 14:46 EST Stop: 1113.00 Target: 0000.00 P/L: + 0
5. Long 1117.00 @ 15:08 EST Exit 1117.25 @ 15:29 EST Stop: 1115.75 Target: 1119.50 P/L: + 0.25