jasinhbca's quest for discipline, knowledge & profits

Hooti,

Thanks for the update and well wishes. Feel free to post a CL chart here if you ever get the urge. I'm curious about CL but will stick w/ NQ for now.

I'm using one monitor. When i get around to buying a longer cable i'll try two. Right now i flip around to different charts. It would be nice to have some higher TF's off to the side to check on at a glance.

About your comment of not taking trades after two losing trades. I have the same problem at times. In fact even after winning trades. I just wrote a note to myself to look to re-enter trades;trend persist. My understanding is that the brain when faced with indecision will look for an excuse to not have to make a decision. So we take a break at the wrong time or find some other distraction. Learning to accept indecision &/or having a well understood trading plan can help. That's my take on it.


Good luck w/ your trading !
 
This trade is worth posting i think. Pullback in trend.

I did not feel comfortable entering and questioned myself after filled. In general though i think it's a good entry. And not just because it worked this time.

Sell is at far right edge.

next post will have the exit
 

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The exit.

Trades like these i'd love to be able to scale out of. LOD was a logical target to exit which i did not take.

Overall pleased with my entry and for holding as long as i did. I gave it every chance to go lower and exited based on a decent read of PA.
 

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Nice trades!

After the second lower peak you could took the same type of trade as the first one :D
Was there a reason you did not take the signal?
(edit: actually that would have been my preferred place, due to the double top)
 
Today i was tired so i was looking for excuses to avoid trades. Too bad as there were lots of opportunities.

Even on my fully rested and ready days i miss too many good trades. I think this comes from my practice of trying to not over trade. When i began trading I tried to limit myself to 3 trades a day. My thougt then was i would learn to only take the best set ups. That was fine for then but now i think i need to change my mindset and take whatever the market has to offer.

I should view overtrading as taking forced or invalid set ups. As long as the set ups are there i need to jump on them.
 
Not a good week. -19.25 pts. Primarily due to poor results on Mon & Tues.

Biggest problem i see is i'm not capturing the bigger trends of the day. Too many trades just flat out not taken or missed and several trades exited too early. My win rate is too low, IMO, at 35%

Next week i plan on continuing to come in rested and focused each day. To take less breaks during first 2 1/2 hours and to make sure i'm not skipping trades because i'm feeling uncertain.

One postive thing i did this week was to enter some trades as a limit order around a pullback area. Usually i just go market which frequently occurs as the move is already underway. It felt strange to have a sell order above the market. I was concerned that the market would move higher ,fill and keep going higher. Happily i got some great fills this way. In the right areas i think this can be a pretty effective way to get in with lower risk.
 
last week -11 pts

this week + 18.25

mon -11
tues +11
wed +2.5
thurs +6
fri +9.75


Thurs had a -5 DD on about 6 trades but was able to stay focused and close out w/ a +11 trade

Today a profitable long and short. Looking at higher TF i was expecting the market to turn lower. Instead it kept grinding higher and i stayed out. I remind myself i'm not trying to catch every move but to trade what i see and make money every day. So, no complaints for today.

Overall my best week in awhile. I think all my screen time is beginning to pay off and is helping me to understand my set ups better and incorporate higher TF's better. I hope so anyway.

I've never been convinced in the utility of fib tracements but lately i've been looking at 50% retracements and finding that helpful. Another tool i'll likely keep using.
 
dang. -2.00 points

mistakes: Not paying enough attention to higher TF, hesitiating at numbers, trading scared.

Mostly decent entries but mismanaged.

I really want to keep the momentum going from last week.

:(
 

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