Awash's Journal

Maybe you should drop your system and try to "read the market" instead. Follow the news flow, which moves the market. Start trading the eco numbers.
 
Quote from Baruch:

Maybe you should drop your system and try to "read the market" instead. Follow the news flow, which moves the market. Start trading the eco numbers.
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Baruch,

Drop my system? I'll never do that!!!!!!!!!!!!! I'm going to work on my errors and fix them as soon as possible, simultaneously learning more about trading and when I do you'll definitely see a difference.

Drop my system?!!!!! What the.... What's your reason for writing that?
 
I wrote it because you could maybe make more money without a system. Who knows? Think about it. When you don't have a system, then you must use your brain instead. And that's not bad.
 
Quote from Baruch:

I wrote it because you could maybe make more money without a system. Who knows? Think about it. When you don't have a system, then you must use your brain instead. And that's not bad.
More...

Baruch,

At this point I wouldn't be able to enter an exit the market without a concise set of rules. But thanks for the feedback. It may work for others but at this time in my learning stage it will not for me.

Happy Holidays!!!
 
Just trying to get back in the grove of things after a two week break for the holidays.

I'm looking forward to tomorrow's trading session and I will focus on the same issues from last year. I'm also looking forward to commenting on a few things I learned while on break.

Remember, all suggestions are welcomed!
 
After trade#1 I Just wanted to get back into the groove of trading by just reading my chart and analyzing price action in conjunction with my indicators. Today was a good learning day for me!

Trade#1 – No signal! I should have avoided this trade completely because there wasn’t a clear long signal.
*Long 1116.00 - 10:16 EST
*Exit 1115.25 - 10:31 EST [ P/L: - 0.75 ]

Trade#2 – I missed the long entry in the 1113 area (open) but I was banking we would retest the high of 1118 or at least attempt to. Went long to test a breakout above 1116.50 but I exited my position a bit prematurely. I should have waited until that particular candle (13:51) completed. My profit target was 1117 to 1118.
*Long 1115.50 - 13:33 EST
*Exit 1115.25 - 13:52 EST [ P/L: - 0.25 ]

Trade#3 – Small divergence signal on 3 minute chart but price quickly reversed and tagged my stop. In hindsight, I should have completely avoided short positions with all market indices up big for the day, plus other market breadth indicators were strong (TICK held above its zero line all afternoon). However, this was a good trade to learn from!
*Short 1115.75 - 14:56 EST
*Stop 1117.75 - 15:06 EST [ P/L: - 2 ]
 

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