Feedback appreciated. My Journal Begins...

Off to work. NQ with a nice trendy morning.

I struggled really hard today with the 5 minute. Since I began in August of this year, all of my studies encompassed a 1 minute and 60 minute for larger picture.

Even though all charts display the same data in different ways, the 5 has a pro --> It helps one be patient and wait for their signal. Cons, you miss nice little pullbacks in big moves hence why I missed the 25 point drop all morning. I watched the 1, and was like oh a pullback! Nope, identify signal on the 5. Oh! Another PB, nope wait for the 5.

The 5 minute other con which is making me rethink my trade management, is you can't identify a DL or SL well to manage an entered trade.

Some losses today would have been way more minimal managing on a 1 minute. However, if trading a 1, I would have had many more trades.

Con's of the one. Easy to get chopped if your eyes aren't on the bigger picture.

Can I enter/identify signals in a 5 and manage in a 1? Do people do that?

Only three trades taken this morning, I'm glad about it being only 3! Woot woot.

Review of trades/thoughts/and issues coming tonight. Off to my job.

Trade well today people.

-JS
 
You are correct – regardless the TF – it all the same data


There are no pros / cons to the 5 min – you’re are not missing anything…, there is no potential of getting chopped more…, or less


Simply you are having a problem with patience - and likely focus


It the same data as the 1 min – just slowed (takes longer / bigger sample) to make a complete bar

(5 - 1's to be exact)


Me thinks you're looking cursory at the 5..., still trying like hell to trade the 1

it can be done..., but for now stick to one

crawl.., walk.., run.., marathon


RN
 
Stick to the 1 also I say, it gives more confidence as you can see the detail, it's all about the detail to me, I've trade 10 second in the past.

First day back myself, missed the good moves damn kids, -$200 area messed up the first trade as always, should be -$30 but it's nothing, role on!!

No work booked after tomorrow so I can focus on trading again :)
 
Redneck said:
You are correct – regardless the TF – it all the same data


There are no pros / cons to the 5 min – you’re are not missing anything…, there is no potential of getting chopped more…, or less


Simply you are having a problem with patience - and likely focus


It the same data as the 1 min – just slowed (takes longer / bigger sample) to make a complete bar

(5 - 1's to be exact)


Me thinks you're looking cursory at the 5..., still trying like hell to trade the 1

it can be done..., but for now stick to one

crawl.., walk.., run.., marathon


RN
More...
The 5 def helps my patience and focus. The bars print so slowly compared to sitting in front of the 1 for 3 months.

Also, I'm able to notice areas of horizontal importance better on the 5. For now at least.

I need to do some chart analysis on my signal on the 5. I've not done that. Only the 1 m.

I'm thinking I also need to add some context to the signal PA wise.
 
Turveyd said:
Stick to the 1 also I say, it gives more confidence as you can see the detail, it's all about the detail to me, I've trade 10 second in the past.

First day back myself, missed the good moves damn kids, -$200 area messed up the first trade as always, should be -$30 but it's nothing, role on!!

No work booked after tomorrow so I can focus on trading again :)
More...
I like 1 too but I chop myself to death. Everything's a signal.
 
jsmacksem said:
The 5 def helps my patience and focus. The bars print so slowly compared to sitting in front of the 1 for 3 months.

Also, I'm able to notice areas of horizontal importance better on the 5. For now at least.

I need to do some chart analysis on my signal on the 5. I've not done that. Only the 1 m.

I'm thinking I also need to add some context to the signal PA wise.
More...


Yes - context is vital - as is trading within it

Also - ensure you are not switching / blending/ morphing your methodology / approach

it appears you are

RN
 
Redneck said:
Yes - context is vital - as is trading within it

Also - ensure you are not switching / blending/ morphing your methodology / approach

it appears you are

RN
More...
Yeah. I don't need to change the approach at all. Downside to ET, you see new ideas and then think wow! I'll trade that DT 123 failed failure like so and so did.

Need to go back to my one signal/method with discipline. Focus.

I'll hopefully review AM trades tonight if I don't have to stay all night at work.

Morning started fine even with a loss and then I got all emotional during the drop knowing there were plenty of pullbacks on the 1 m. But I just sat and watched.

Still need improvement. I need to be fine with it moving without me.
 
jsmacksem said:
I like 1 too but I chop myself to death. Everything's a signal.
More...

That's why I trade with SMA's and HA recently, remove that knee jerk reaction which are generally all traps to make us do the wrong thing and take out money, don't under estimate our enemy, there smart and know how to take money from retail traders, it's how they make there living.

Few months and you'll be bringing in big $$$'s no doubt, it takes time, don't beat yourself up to hard.
 
jsmacksem said:
Still need improvement. I need to be fine with it moving without me.
More...

You and J.....

You could fund 17 careers with the amount of movement I miss / let go every day



A missed move..., is simply the prelude to the next signal

It will materialize shortly..., always has..., always will


RN
 
Redneck said:
You and J.....

You could fund 17 careers with the amount of movement I miss / let go every day



A missed move..., is simply the prelude to the next signal

It will materialize shortly..., always has..., always will


RN
More...
Really? At first they bothered you though?

That's a great way of looking at a missed move. Signal pre lude. Maybe it's even the missed moves that help create context for that signal.

You and J?
 
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