If You Can Draw A Straight Line . . .

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Quote from Gringo:

Hi Niko,

To me it looks likes your own analysis of the problem is accurate. You just lost focus from 9:45-9:54 and within that 10 mins or so span the boat to potential profits was missed. Concentration is the key word here. Maybe some sleep, fish oils, broccoli coupled with talking to a friendly person like me would do the trick :)

Good luck.

Gringo
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Thanks, I will try the brocoli. Are you daytrading too?
 
Quote from niko:

1.After finding R at the premarket high sellers pushed had, shorted the first RET visible in the 1 min.
2.Got distracted and missed the break of DL and the fact that there was a HL, so missed a proper exit and a good entry that proved to me a profitable move.
3. I am missing something here, but dont know what it is, did not take the short at 10:12 as I did not trust the LH to be of importance, I guess the increase in volume at my entry bar and the fact that it closed on the top should have been reason enough to exit, but....
4.Shorted the first RET after the BO of what I considered chop, was not a great trade, but at least not a loser.

Any comments will be appreciated.
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Assuming that you're watching all of this in real time, you're going to have to figure out what it is you're afraid of.
 
Quote from dbphoenix:

Assuming that you're watching all of this in real time, you're going to have to figure out what it is you're afraid of.
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Yes, all RT but no real money, not sure about what is it I am afraid of, I guess I had been getting burned so many times in the chop, that whenever I find something suspicious I tagg it as chop and wait for a RET after the BO, that ussualy gets me late in the moves.

Not really sure about what you mean about fear though...
 
Quote from niko:

Yes, all RT but no real money, not sure about what is it I am afraid of, I guess I had been getting burned so many times in the chop, that whenever I find something suspicious I tagg it as chop and wait for a RET after the BO, that ussualy gets me late in the moves.

Not really sure about what you mean about fear though...
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There's a reason why you're not taking legitimate trades. Either you (a) haven't defined the entry clearly enough, (b) you're afraid of losing, (c) you're afraid of being wrong, (d) . . .. You need to figure out why you're not taking these trades.
 
Quote from dbphoenix:

You need to figure out why you're not taking these trades.
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Niko,

There's a way to figure this out - takes a pencil, paper, and some quiet time sitting..., thinking..., and writing

You want, let me know and I'll PM you the steps...., or post them here if DB approves

RN
 
Quote from dbphoenix:

There's a reason why you're not taking legitimate trades. Either you (a) haven't defined the entry clearly enough, (b) you're afraid of losing, (c) you're afraid of being wrong, (d) . . .. You need to figure out why you're not taking these trades.
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Thank you, regarding your comments:

a. This is what I have so far:

REV entry:

1. Break of S or D line
2. HL or LH (no DT or DB has to be either higher or lower)
3. Once I spot the HL or the LH I place a Stop Entry above the LSH or below the LSL. (I do it in this way to avoid being absorbed into what can become a hinge, guess this is fear and I should get clearer stats on this. I have seen that you enter before the break so there is something I am missing there.)

RET entry:

I only take RETs after the BO of what I have identified as a TR or a hinge (TR= the light green rectangles I plot in RT) in the 1 min, so after what appears to be a BO i wait for a LH to form to do the same I do in the REV entry.

All the other possible entries are not being taken, because they don´t fit in the setup i just described.
 
Quote from Redneck:

Niko,

There's a way to figure this out - takes a pencil, paper, and some quiet time sitting..., thinking..., and writing

You want, let me know and I'll PM you the steps...., or post them here if DB approves

RN
More...

Thanks RN, I am all eyes! (I would say ears, but it would be out of context)
 
Quote from niko:

Thank you, regarding your comments:

a. This is what I have so far:

REV entry:

1. Break of S or D line
2. HL or LH (no DT or DB has to be either higher or lower)
3. Once I spot the HL or the LH I place a Stop Entry above the LSH or below the LSL. (I do it in this way to avoid being absorbed into what can become a hinge, guess this is fear and I should get clearer stats on this. I have seen that you enter before the break so there is something I am missing there.)

RET entry:

I only take RETs after the BO of what I have identified as a TR or a hinge (TR= the light green rectangles I plot in RT) in the 1 min, so after what appears to be a BO i wait for a LH to form to do the same I do in the REV entry.

All the other possible entries are not being taken, because they don´t fit in the setup i just described.
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So assuming you considered the premkt activity between 51 and 54 to be a trading range, why didn't you take the retracement that occurred where you have that first big blue arrow?
 
Because from my perspective (1 min) I consider that RET to be really part of the first downwave, the RET for me was the next one (counterwave). I have been in the 20 tick world for too long and ended up taking a lot of trades, and using my profits to pay commissions. So I decided to take a step back, focus on what is happening in the 1 min and avoid the small pullbacks that I know are there but that don't show up in the 1 min clearly.

I guess this is where fear come into play, I am afraid that because that RET is not significant enough, my rules I will not work so I avoid it instead. I guess I should include that into my backtesting routine and find out on my own.

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