Emini divergence journal
- Thread starter no_pm_please
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Good morning! Just woke up and my eyes are burning. Gotta find the Visine.
ADX is above 30 and if we get a early move up then there might be some divergence to initiate a trade. No news out at 10, so lets see what happens.
ADX is above 30 and if we get a early move up then there might be some divergence to initiate a trade. No news out at 10, so lets see what happens.
I see a nice divergence. Only thing I don't like is the open gapped above the high of last week. I have the Keltner Channel at 5.4, so a short entry would need to be within 2 pts of 994.90. Maybe a sell limit order. Looks like this is the first down bar, so will sail a limit order in at 993.00 if 994.90 isn't taken out.
Short from 993.00 stop loss set at 995.00.
Stopped out at 995.00
Entry was too early. Probably should have waited for evidence of a non-trend day before entering with the gap open above last weeks high. At least it wasn't stressful. In and out in about 5 min.
I'll need to see evidence this isn't a trend day before taking another setup.
1. ADX crossed above 30 at 2:45 on Friday 8/15.
2. Divergence was pretty easy to see once the open 5 min. bar completed. It looked like divergence was starting before the close on Friday. The 8:35 bar looked pretty convincing.
3. First down bar was the 8:40 bar so the entry was done around the open of the 8:45 bar. Market was flirting with being outside the stop loss point so I used a sell limit order to no pay more than 993.00. Keltner width was 5.3 so stop loss was set to 2 pts.
4. Stopped out at 995.00 within 5 min.
Entry short 993.00
Exit short 995.00
Profit(loss) (2.00)
Risk 2.00
Risk/reward this trade 0
Cumm. trades since 8/1
# wins 8
# loss 2
Profit of winners +41.25
Loss of losers -5.0
I'll need to see evidence this isn't a trend day before taking another setup.
1. ADX crossed above 30 at 2:45 on Friday 8/15.
2. Divergence was pretty easy to see once the open 5 min. bar completed. It looked like divergence was starting before the close on Friday. The 8:35 bar looked pretty convincing.
3. First down bar was the 8:40 bar so the entry was done around the open of the 8:45 bar. Market was flirting with being outside the stop loss point so I used a sell limit order to no pay more than 993.00. Keltner width was 5.3 so stop loss was set to 2 pts.
4. Stopped out at 995.00 within 5 min.
Entry short 993.00
Exit short 995.00
Profit(loss) (2.00)
Risk 2.00
Risk/reward this trade 0
Cumm. trades since 8/1
# wins 8
# loss 2
Profit of winners +41.25
Loss of losers -5.0
Are you ignoring offshore's comments?
Thanks Visiontrader. I setup another screen to watch your indicators. It didn't help with this trade, but I'll be watching to see if it improves the overall method.
I guess you guys were busy over the weekend. I'm on page 53.
Can't believe this journal generates so may posts. If there's something I need to clarify...I will.
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