I wait for the trend to tell me what it wants to do then try and join on the ride. No need to fight anything at all. You will not be right all the time about the direction of the trend but the more confirmation you wait for, the better trend you can ride, even in short intraday scalping.
Columbus 5 Day ES Intraday Trading Exploration
- Thread starter martys
- Start date
Sorry, hadn't read this posting.
Short at 1193.25, made the ride to 1189 but had to stay short; got stopped out at the entry level just before we went to 1196. No loss, no gain.
Short again at 1195.50 after we did 1196. Still short. We have to test the low again according to my charts. Stop at entry level.
Did this morning a short from 1195.75 to 1189.50.
Most time when I try to ride trend like that, I get screwed. 2 pt is my karma.
Thanks everyone of you.
I am probably not ready for this journal thing but I only give myself 5 days to see if I am able to trade as many setups as I can see. This afternoon, I found no setup because the market moves too erratic for my stuff to work. The support and resistance are to the tick even during the search and destroy mission. But the move is too fast for my other technical works to line up which is how I get rid of the "trigger". Total P/L -2 pt and -2.25 pt for the week.
I notice I was too slow to realistically catch every trades in the day. The only quick way to fix this is to get rid of all my low probability probes pointed out by FT71. I went back and look - they are really low probability with the past few day's of data. After the break out of my first level (often wave 3 already started), there are a few ghost levels naturally closed by but I have found only one occasion where it holds well for the past few days. They might have worked OK when the market stuck in a tight range. I got the idea to categorize these market actions but this is gonna take some time in the future.
I think there is actually ways to catch the bigger moves by applying the technical work on the bigger swing when the good small swings are not apparent. I had been too focus on the small swing and sometimes the market does not pullback to give me anything to work with.
Final note: I might be allergic to bannana... I gotta blame somebody for my performance other than myself. Right?
I think there is actually ways to catch the bigger moves by applying the technical work on the bigger swing when the good small swings are not apparent. I had been too focus on the small swing and sometimes the market does not pullback to give me anything to work with.
Final note: I might be allergic to bannana... I gotta blame somebody for my performance other than myself. Right?