jasinhbca's quest for discipline, knowledge & profits

Few hours..., it'll be time to get back on that horse..., and ride it

Only one way to go J - back ain't it... and sideways isn't a direction


We're similar to assembly line workers - the process we follow;


Trade plan (created for each trade)

1.) Signal / Entry
2.) Initial Stop loss signal / Stop loss price
3.) Target / Method of managing trade

repeat



RN
 
Today again focused on pulling the trigger. Usually 3- 6 trades a day . Today 12.
After first 4 trades I was very pleased with my executing my plan despite 4 straight losses.


Ended the day -9.00 pts. Still reviewing . There were mistakes (trading in a range) and some missed trades. I'll wait till end of week after more trades to judge whether I'm making progress or not. Mentally it felt like I did. Was calm, didn't get rattled too much and again , right or wrong, was pulling the trigger.

HTF had major resistance around 3611- 3618.

chart : Stop is red line . Blue arrow ends at minimum target. More charts in a bit

1 Short LH
E. 3587.50
S. 3590.00 2.50 pt
T 3574- 3578
Exit at failure to break swing -.50

2 Short FBO
E 3596.
S 3599.75 (3.75)
T 3588-3584
Exit failure to continue -2.50

3 Long BO
E 3599.50
S 3595.50 (4.)
T 3610
Exit FBO -2.75

4 Short FBO
E 3596
S 3599.50 (3.5)
T 3588 –3584
Exit failure to continue -1.50

5 Long BO
E 3605.50
S 3601.50 (4)
T 3611 - 3615
Exit at target, TL break , take profits. Wanted to stay in. + 5.25
 
more trades. last trade not shown on chart.

6 Long (late entry) PB in trend
E 3611.75
S 3609.75 (2)
T 3616-3620 HTF Res and channel
Exit FBO -.50

7 Short FBO Didn’t like this entry
E 3610.75
S 3611.50
E Poor exit. –2.75

8 Long BO HTF context not good. Target too close. Hope trade ?
E .5 slippage on entry 3615
S 3613.25 (1.75)
T 3616 –3620
Exit -1.75 Stop hit


9 Short PB after FBO
E 3611.75
S 3614.50
T 3605- 3600
Exit failure to continue past support & Nervous. +1.00

10 Long off test of support. Poor entry, cancelled an order at lower price then went market.

E 3612.50
S 3609.75 2.75
T HOD 3616 –3620

E no follow through , no edge – 2.00

11 Long Same trade as 10

E 3612
S3609 (3.00)
T 3616 hod – 3620

Exit stop –3.00


12 Long 3610.50 10:46 pst
S 3607.50 (3.00)
T 3616 –3620

Exit stall +2.00 at 11:13 poor exit nerves still above support. Possible could have exited for +2 more
 
Not going to bitch too much – as I understand the challenging times – THIS TIME

But please never do this shit again – it tantamount to the actions of a gambling addict…

We're traders damn it

==============================


Trades 6.., 7…, 9…, 10…, 11 – are all within the same range – furthermore – most of these trades are nearer the center of this range than one of its boundaries

Trades 2.., 3 & 4 - also in a range with no clear signal for 3 & 4 (2 was still early in the formation of the range)

=================

Let’s call this…, one for the lesson book – of what not to do....

and move on

======================

Get some rest J… tomorrow will be here before long


RN
 
jas_in_hbca said:
could have exited for
More...

Any time we find our self using - would have..., could have..., should have

We are hindsight trading

We never have..., nor ever will have - that luxury



Do what you do.... be okay with it.... move on

If you're not okay with it - then learn from it... don't repeat it.., move on

RN
 
OK got it , thanks. I need to watch the context and HTF better and avoid the range.

Ain't that interesting. I know I've done that before; have the patience to avoid chop. I've got to execute the same EVERY day. There had to be some eager, hope trading going on today. Need to focus on price , no bias. Calm focus. OK
 
A mixed day. Missed some trades and had some sloppy entries. But I'm doing things now I had trouble doing before so I believe progress is being made. For example , exiting at a target has always been difficult. Fear of missing out on more profits has generally kept me in trades too long. Today trades 1 & 6 were properly exited at my target. # 6 I gave a bit of time to see if it could move higher then closed.

# 6 I also was able to hold after the entry appeared to stall. Often I exited and then missed the real move.

I think 1 & 6 were pretty good trades.

+11.50 today . I think the second chart has the first trade.

1 Entry 3605.50 123 reversal
stop 3601.75 3.75
Target 3612.75 target and resistance

Exit at target +7.25


2 Impulse trade so just exited -.25

3 E 3585.50 LOD range break
S 3589.25 3.75
T 3575 channel

Exit on FBO. 3585 was support on HTF -2.00

4 E 3593.25 123 reversal
S 3589.50 3.75
T 3598

Exit , failure to continue past resistance +1.00


5 E 3595.25 Pb in trend
S 3592.00 3.25
T 3602 -3606

Exit failure to break swing & tl break - .75

6 E 3597.25 Continuation . Failed failure.
S 3593.50 3.75
T 3602- 3606

Exit at target 3603.50 +6.25
 
Let’s do a plus and minuses… minuses first…, as I want to end on a high note – you deserve it


Minuses

Horizontal needs a lot of work – more to the point.., it sucks

In each trade plan – include whether you entered long or short

The TLs are a little sloppy / and some necessary ones missing…,

Pluses

Half the trades of yesterday – yet profit (that says allot)

Though I gigged the TLs… they do.., overall…, represent PA nicely (they just need a little tweaking – nothing major)

Save for trade 5..., I really don’t see a bad trade in the bunch – unlike yesterday – today some simply didn’t work out (it's called tradin)

=====================

1 Entry 3605.50 123 reversal
stop 3601.75 3.75
Target 3612.75 target and resistance

Exit at target +7.25

Comment

Overall good trade

Entry – Good

Stop – Stop too generous

Target – Good

==================

2 Impulse trade so just exited -.25

Comment

Could have been a RBOD (range break out down) entry– there is a range created by the PB

Or a continuation short.., after the PB to 3598

========================

3 E 3585.50 LOD range break
S 3589.25 3.75
T 3575 channel

Exit on FBO. 3585 was support on HTF -2.00

Comment

How the hell do you know this is the LOD at this point

Pays to know the HTF context (which is the exact same on one's TTF - if one has the horizontal context created)

Great job managing this one

Entry – Good – it just evolved into FBO (stop runnin bastards)

Target – Can’t see it – so no comment

Stop – Good

======================

4 E 3593.25 123 reversal
S 3589.50 3.75
T 3598

Exit, failure to continue past resistance +1.00

Comment

Good trade – sloppy context drawn – reflecting PA.., which lead to – too generous of a stop

Entry – Good

Stop – Too generous (this is where drawing a tight UMTL – and a breach of that the stop – would have reduced risk) Note; when I say tight – the first UMTL is not hugging the bars

Target – Given all the previous weakness – too optimistic

=======================

5 E 3595.25 Pb in trend
S 3592.00 3.25
T 3602 -3606

Exit failure to break swing & tl break - .75

Comment

Not an overly bad trade – but you were going long into R (previous swing high) –

Good horizontal context would have emphasized this

Entry – Questionable

Stop – Good

Target – Too optimistic


=================


6 E 3597.25 Continuation . Failed failure.
S 3593.50 3.75
T 3602- 3606

Exit at target 3603.50 +6.25

Comment

Entry – Good – but also a RBOU

Stop – Too generous – make a breach of the bottom of the range the stop (~3596.25)

Target – Good


===================

Let's do it all over again tomorrow :)

RN
 
Thanks. All your comments are very helpful. I failed to mention that on most of the trades that start moving in my favor I do tighten up the stop. Although they're still not as tight as you're suggesting.

BTW , the LOD was the LOD made in the first hour and not shown on the chart.
 
You must log in or register to reply here.
Back
Top