Awash's Journal

The A.M. and P.M. trades were were screaming "SELL"....Please "Sell".....2 today...big money.......2 biggies today were trading opportunities with no stress whatsoever...enter and ride...shorts time frame charts are great if u like them. I am not smart enough to trade them..

I know u don't like my posts, but I wish u all the best anyway...thousands of hours of testing and studying will get u where u want to be....
 
Quote from Awash:

Would you add to a position if you have a valid signal still in play and continuously developing? Over the last two weeks I’ve 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.
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You’re doing well Awash.

As for your attempt to add when your divergence signal is still valid, perhaps you can expound on Fast_Trader’s suggestion to you of higher timeframes to include a divergence signal on a higher timeframe to compliment your 3-min chart signal in a range-bound market? So a potential scenario you might have is a divergence occurring on a 17-min chart AND the 3-min is also showing a valid signal that’s still in play, thereby offering you allowance to mount a campaign to “add”. Or, if the divergence signal is still in play AND certain critical resistance line has held, then it’s okay to add to the short (but if the critical resistance is broken, you don’t add) – and of course where you’re going to place your new stop-loss. Anyway, just some ideas you might want to test them out. Have fun!

Kermit
 
Just a quick recap of my trade signals.

Divergence signals

All of my entry signals come from my 1-minute chart. I almost never rely on higher time intervals for signals but once in a while I will take a signal based on my 3-minute chart but nothing higher. Counter trend pullbacks and all other potential reverses are the best setups for me.

BUY - Positive Divergence

SELL - Negative Divergence

Recap: http://stockcharts.com/education/glossary/divergence.html


Support/Resistance signals

Each day I calculate s/r levels based on recent price movement and I watch for new intraday levels. My goal is to use these lines as reference points in relation to price action. If price is in a small or considerable trend I will enter the market per direction prior (1 point before) to a s/r line as this will be a good test to see if the level will hold. Unfortunately I don't use this signal effectively and it has proven to be reliable continuously. I'm aggressively CONDITIONING myself to use this signal.


Quote from tradersaavy:

.................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.
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tradersaavy,

The reason I don't post 1-minute charts is because it's too time consuming and it requires multiple charts. I allot roughly 10 minutes at the end of each session to prepare my online journal. I don't want to spend more time on it. However, I do realize its significance, so during my lunch hour I'll try and prepare one or two trades from the morning (don't hold me to this).

I no longer have continuous problems with my entries. Every now and then I'll enter prematurely (like today, trade#2) or late but I'm getting better with my timing.

Initially, when I started my journal I wanted to focus on my errors, whether known or unknown, and hopefully get some good constructive criticism. Not to mention learn new ideas, strategies and approaches that I can incorporate into my trading scheme. Undoubtedly, I'm still learning from each reply and then some.

I hope my journal will continue to be effective for me and others.

1-Minute Charts for TRADES 1, 2 & 3
http://www.ttrader.com/mycharts/display.php?p=15696&u=aaronwash&a=Aaron\'s Charts&id=664
 
Awash


Thanks for the 1m charts.

Now one can really see what you see.

Hope you have time to keep the 1m charts posted.

Keep up the good work and keep on studying.
 
Quote from traderkay:

dude u such a scalper u, i sure hope u dont use limit orders on simulator :)
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I think it takes a lot of discipline to 'properly' paper-trade. I could never do it right since the outcome of the trades didn't matter.

-Fast
 
Perfect trading day with descent signals but I failed to execute on some good long signals. Overall, I placed good trades. Starting next week I need to be held accountable for missed signals (long or short).

Trade#1 – [Short 1046.00 10:09 EST & Exit 1044.50 12:51 EST] [ P/L: + 1.50 ] Entry was mediocre off a poorly developed lower high on my stochastic. Decided to stay with the trade after more divergence continued. Covered short at a good profit target. http://www.ttrader.com/mycharts/display.php?p=15700&u=aaronwash&a=Aaron's%20Charts&id=664

Trade#2 – [Short 1049.50 12:51 EST & Cover 1049.75 13:21 EST] [ P/L: - .25 ] Bad trade simply because divergence on my 1-minute chart after a strong move can be unreliable. I took a false signal but set a wide stop and price retraced. I just wanted out of this position after it almost hit my stop of 1052.50. http://www.ttrader.com/mycharts/display.php?p=15705&u=aaronwash&a=Aaron's%20Charts&id=664

Trade#3 – [Short 1049.00 14:26 EST & Cover 1047.50 14:30 EST] [ P/L: + 1.50 ] Late entry but good divergence signal. My profit target was a bit modest and I could have got more if I saw the overall big picture at the time. http://www.ttrader.com/mycharts/display.php?p=15701&u=aaronwash&a=Aaron's%20Charts&id=664
 
Quote from Fast_Trader:


I think it takes a lot of discipline to 'properly' paper-trade. I could never do it right since the outcome of the trades didn't matter.

-Fast
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Fast,

In general, it takes a lot of discipline to trade, whether via simulator or live. The results of paper trading are extremely important because if you can't make money through practicing you surely won't with live capital. Whatever happens with your trading, just make sure you stay disciplined!
 
This is a chart that I thought you would find interesting.
Its a trade style similair to yours.
I found it at ttrader/mycharts.

http://www.ttrader.com/mycharts/display.php?p=15702&u=ctmac&a=ctmac's%20Charts&id=754


Your 1m chart posts are great. You were in some great trades on 10-16. Some of them ran for a good chunk of change after you were out of them.

Have you considered taking partials at a 1st target and then letting the rest run ? (if you have more than 1 contract of course)
 
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