I Love Virgins

[enochbenjamin]

After lurking around for a few years I have decided to start a journal. My main reason for starting this journal is really selfish - in some strange way I feel publishing this journal will help me stop the impulsive trades.

Anyway, the title. I love trading virgin approaches to established (by me) support and resistance levels. I define virgin as a level that has not been revisited since it was created and do not count levels created in the current session. I also do not use virgins that have been violated in the overnight sessions.

My vehicle of choice is the 10 year (ZN) although I have been known to occasionally trade other markets if a pretty virgin entices me.

That's all for now.

 

[enochbenjamin]

Today's trades:

ZNZ9
Buy virgin approach of 116'235
Sell virgin approach of 117'155

note: by virgin I mean first time approach only.

 

[enochbenjamin]

cancel all orders - no trades today.

 

[enochbenjamin]

Today's trades

ZNZ9

Declining POC's indicate downward pressure so our initial bias will be to go short.

SELL virgin @ 117'04 then 117'155

Cautiously BUY virgin @ 116'235

 

[enochbenjamin]

In at 116'235 - out 2/3 at 116'255 -- 1/3 left to run with B.E. stop - free trade.

 

[Optionpro007]

Quote from enochbenjamin:

so our initial bias

Hi Ben,

Who is 'our'?

 

[Vespasian]

Can you be more specific with stops and targets ?

Thanks

 

[enochbenjamin]

Quote from Vespasian:

Can you be more specific with stops and targets ?

Thanks

I'll try.

Initial target is usually 4 or 5 ticks. If your not greedy and patient, you can almost always get a 4 tick bounce of s&r levels - even if it is clear that level will be violated.

As far as stops, keep it simple - never risk more than you plan to make.

 

[enochbenjamin]

Quote from Optionpro007:

Hi Ben,

Who is 'our'?

well i have multiple personalities - one a bricklayer who comes to work and takes the same low risk trades day in and day out, and a second who gets emotional and takes any sudden movement as an indicator that its time to trade.

when i say "we" or "our" it means the bricklayer has the impulsive trader under control and both are in agreement.

 

[Optionpro007]

Quote from enochbenjamin:

well i have multiple personalities - one a bricklayer who comes to work and takes the same low risk trades day in and day out, and a second who gets emotional and takes any sudden movement as an indicator that its time to trade.

when i say "we" or "our" it means the bricklayer has the impulsive trader under control and both are in agreement.