Journal XburbX - My Plan
- Thread starter xburbx
- Start date
Spike Fade!
Here is another flavor of looking at it
Here is another flavor of looking at it
"Trade other traders"
If it weren't for the hundreds of losing trades under my belt, I'd never have those insights. There are two sides to the market, as they say, and one has roughly 19 times the population of the other.....
One quick way across is to start wondering "what if".... I was on the other side of my trades.....
How would it feel?
:eek:
If it weren't for the hundreds of losing trades under my belt, I'd never have those insights. There are two sides to the market, as they say, and one has roughly 19 times the population of the other.....
One quick way across is to start wondering "what if".... I was on the other side of my trades.....
How would it feel?
:eek:
I took a trade at 10:53 today.
Bias was short. The first 30m tail was covered after a large gap down. The gap couldnt fill. I waited for price to close under the red channel. Price was under the larger time frame target line. Price bar after the tail showed price wanted to go down further. The bar after the big tail was able to fight most of the tails body and close in a down direction. I let price get back inside that wedge from several days ago and shorted to the target of it's low. The trading TF broke down on a wedge and I entered short. Target is the LOD. I am going to wait until we get to the LOD but not take the position off until I see how price responds to it.
Waiting was good as I identified a target on my TTF and holding at the LOD worked. I didn't see any hard action against me there.
+.60 cents - exited at the bottom of the TTF channel.
Longs are probably hurting today.
Bias was short. The first 30m tail was covered after a large gap down. The gap couldnt fill. I waited for price to close under the red channel. Price was under the larger time frame target line. Price bar after the tail showed price wanted to go down further. The bar after the big tail was able to fight most of the tails body and close in a down direction. I let price get back inside that wedge from several days ago and shorted to the target of it's low. The trading TF broke down on a wedge and I entered short. Target is the LOD. I am going to wait until we get to the LOD but not take the position off until I see how price responds to it.
Waiting was good as I identified a target on my TTF and holding at the LOD worked. I didn't see any hard action against me there.
+.60 cents - exited at the bottom of the TTF channel.
Longs are probably hurting today.