YMU8 Daily Chart
Iterative Refinement
- Thread starter Spydertrader
- Start date
Trading some YM early today and this happens. Why didn't I trade ES???
Hahahaha!
Hahahaha!
This is from the YM trade this morning net after commission.
I'd like someone to comment on my assessment of following the 30 min chart and making decisions of continuation and change.
At 10:00 I was short EXM based on PRV and the fact it broke the lateral from previous days. PRV showed increased red and a BO of the blue and dark blue RTL channel lines coming.
10:00 is where it gets strange. An FBO seems to signal but I stay short based on the fact a pennant has formed on decreasing black volume. Once the 11:00 PRV shows increased black and a BO of the pennant to the upside I get long expecting change.
At 11:30 decreasing red comes in and takes the stock down considerable losing some more profit from my long but I hold. When 12:00 shows increased red PRV and a BO of the blue and dark channel lines likely I reverse and make some profit off the break out.
Currently we are in a lateral and some profit has been lost as a result. Probably CCC because of lunch time.
A question I have is where are some of the good entrys and exits here to avoid being bounced around and thus losing some profit before a considerable move takes place.
Comments welcome.
At 10:00 I was short EXM based on PRV and the fact it broke the lateral from previous days. PRV showed increased red and a BO of the blue and dark blue RTL channel lines coming.
10:00 is where it gets strange. An FBO seems to signal but I stay short based on the fact a pennant has formed on decreasing black volume. Once the 11:00 PRV shows increased black and a BO of the pennant to the upside I get long expecting change.
At 11:30 decreasing red comes in and takes the stock down considerable losing some more profit from my long but I hold. When 12:00 shows increased red PRV and a BO of the blue and dark channel lines likely I reverse and make some profit off the break out.
Currently we are in a lateral and some profit has been lost as a result. Probably CCC because of lunch time.
A question I have is where are some of the good entrys and exits here to avoid being bounced around and thus losing some profit before a considerable move takes place.
Comments welcome.
M - Monitoring - A Trader must have the ability to create thoroughly and properly annotated charts.
A - Analysis - A Trader must know the sequences from Point One to Point Two to Point Three.
D - Decision - A Trader must know WMCN and where they sit with respect to the right side of the market.
A - Action - A Trader must have the ability to recognize a signal for change.
- Spydertrader
A - Analysis - A Trader must know the sequences from Point One to Point Two to Point Three.
D - Decision - A Trader must know WMCN and where they sit with respect to the right side of the market.
A - Action - A Trader must have the ability to recognize a signal for change.
- Spydertrader
See 'D' of the M-A-D-A process. Place some much needed focus there.
- Spydertrader