Iterative Refinement
- Thread starter Spydertrader
- Start date
Quote from guavaman:
I am looking forward to the day when I finally realize I do not possess the skill set necessary to reverse during intra day trading...never mind intra bar. By the time I have this epiphany I will probably really have the skill
A guava can dream can't he???
Hi guava, could you post a chart showing a problem area you had? I did a little better today following the "YM permission rules", but still have some questions of my own. Will try post one or two a little later.
Today chart.
A couple of notes:
- I treated the 9:40am bar as decreasing red because increasing red did not continue on the following bar. Hence attributed the increase in volume of that bar to the Pennant BO
- After Spyder's comments about lack of volume increase after a point 3 channel, I wasn't sure if my orange change (12:20-12:40) is a valid channel. We had a slight increase in volume however half of it was probably black.
A couple of notes:
- I treated the 9:40am bar as decreasing red because increasing red did not continue on the following bar. Hence attributed the increase in volume of that bar to the Pennant BO
- After Spyder's comments about lack of volume increase after a point 3 channel, I wasn't sure if my orange change (12:20-12:40) is a valid channel. We had a slight increase in volume however half of it was probably black.
Today was a typical day of mine, but backwards. Usually I start the day with a couple of productive trades and screw up in the p.m. Today the morning (9:40 to 10:25) just chewed me up. I kept trying to determine the proper context and its corresponding sequence but I could not seem to determine it. Such a small matter never precludes me from trading though
(unfortunately). I have to internalize the reality that that methodology is of supreme importance important to trading profitably, but probably no more so than proper patience and discipline; especially at my fledgling trading level.
Any hoo, I recovered "somewhat" in the p.m. , but not well enough to avoid posting a loss for the day (-12.5 pnts).
At the moment I believe among my shortcomings is the ability to accurately asses what is a PT1, PT2 and PT3 as a channel is expanded and takes on different trajectories. Additionally, any Outside bar is an automatic multi-point loss for me. I need to quickly just exit as gracefully as possible at these moments instead of trying to navigate that which confuses me.
Having said all this, there are success to focus and build on. I will strive to eliminate the poor decisions and strengthen the positive ones. Simple
. So the journey continues.Lately, it seems that the ES market has reverted back to "Normal" (unlike Jan) where we're seeing the major moves happen within the first hour of the day and is relatively choppy throughout late morning and early afternoon.
This clearly makes for tougher trading - does anyone have any thoughts on taking money out of the market early morning when the overnight market does not produce a solid overnight channel?
This clearly makes for tougher trading - does anyone have any thoughts on taking money out of the market early morning when the overnight market does not produce a solid overnight channel?