lilduckling's journal of YM

did 1 trade

in 2:44pm @11029
out 3:52pm @ 11052

+ 23pts

$TRIN prevented me from being more aggressive to enter earlier in the day.

YM is going higher this week
Hope to catch a gap down this week. Do not wanna see a gap up.
 
Well........ I got the gap that i wanted!! :D

My profit from this play was .74 cents :D

.74 cents??????!!!:confused: :confused:

Yeah :mad: i goofed up this trade!!
In on 9:33am @ 11007
Out 11:04 @ 11008

After i entered this trade, i began to get nervous because the TRIN just kept trending higher and higher, with VOLD trending lower. At 10:30 YM reached 11025 than began to sell off. Thats were i got nervous....because that level was a 50% gap fill.....and also a Fib retracement 50% level. And so... i got out when price came down to my entry. I should've waited to see if it was going to make a lower low...which it didnt. And also I would have never gotten stopped out.

On the plus side... i did not get back in during the doldrums when it rallied... i say its a plus because it didnt meet the criteria that my trading plan calls for in order to enter during doldrums. I resisted temptation.

I did take a quick peck off the 3:15 rally... a staggering +11pts.
Well.... not a good day at all... but not a disaster either.

Tomorrow is another day!!

:)
 
Not alot going on today as the YM is basing at the highs for a few days now.... building up steam for take off.

# of trades 2

in 10:16 @ 11046
out 10:54 @ 11036.... - 10pts (perfect timing on entry... but trade didnt amount to squat)


in 11:58 @ 11042
out 2:38 @ 11065.... + 23pts

Net Pts +13
 
HOLY CRAP!!
Do NOT try going long for gap fills on days like this!!

# Trades... 4

1st trade:
Long on 9:31am for a gap fill. Mistake. Next time i will wait at least 5 min. I figured since gap was only around 20pts it would quickly be filled before heading south. VOLD just kept on trending down... Also we have had 7 straight up days... a gap down today would make me very cautions. In stocks, i would have seen this coming and would not try to go long. Need to step out of the YM 2 & 5 min charts and look at longer time frames for better prespective. But thats no excuse.... I jumped the gun today and paid the price. Rest of my trades were equally stupid. Its a maracle i survived today!! Even made an entry mistake on broker platform.

Heres the summary:

9:31-11:18
Long 11055.... stopped out @ 11034...net: - 21pts

11:51-11:51
Short 11046.....out by mistake @ 11057...net - 1 pt

11:52-1:25
Short 11046....................out @ 11034...net + 12pts

2:13-4:12
Long 11003....................out @ 11012...net + 11pts

Net pts.... 0
p/l ........ ($23) ...commissions

This was a bad day. I could've been down alot more... but hung in there. In the afternoon we began to get a bullish diversion between YM and RSI. Ym was making lower lows while RSI was making higher lows... so i just waited to recoup some pts.

Well....... im a little shaken..... but not stirred!
 
Quote from lilduckling:

This was a bad day. I could've been down alot more... but hung in there. In the afternoon we began to get a bullish diversion between YM and RSI. Ym was making lower lows while RSI was making higher lows... so i just waited to recoup some pts.

Well....... im a little shaken..... but not stirred!
More...

lilduck,
What time frame charts are you using?
You might want to use 2 time frames, 1 for entry/exit usually 1-5 minute, and something a bit longer for trending action. I use 2m and 15m. If/when divergences on longer time frame get confirmed on the short term, that's useful! Doesn't work very well the other way around.

Good luck
Osorico
 
HEy lilduck
A action like today any one would have been shaken out
Your are lucky that u dint get caught in the sell off that was bleeding today i guess
 
Quote from osorico:

lilduck,
What time frame charts are you using?
You might want to use 2 time frames, 1 for entry/exit usually 1-5 minute, and something a bit longer for trending action. I use 2m and 15m. If/when divergences on longer time frame get confirmed on the short term, that's useful! Doesn't work very well the other way around.

Good luck
Osorico
More...

Yeah.... i look at 2min for entries.. and switch between the 5 and 15 min charts for a clearer overview. I try my best to use multi time frames to get in and out of trades.... i believe its the best way. I should've just studied the daily chart of YM yesterday.... i mean 7 up days in a row....

I also believe we are going to sell off a little more because of that crap in Venezuela. BUT.... i don't believe it will hurt the daily charts. I don't mind .... either we consolidate sideways through time... or through retracement in price... i'll take retracement... make some $ on way down. We can sell off to 10900 and still wont damage the daily chart. After that... its all a buying opportunity. Remember... weekly and monthly charts is whats setting up to propel us beyond 11000.... 150pts isn't squat.

DO NOT be a long term bear!!!
All you will be doing is volunteering to be a lump of coal to fuel the massive steam engine thats coming, by being forced to cover... fueling the mkt higher.

So yeah.... im not worried about this short term sell off... we are just weeks from a nice uptrend. Although i believed it would happen this week. I was wrong.

Anyways... I wont be doing any trading tomorrow. I have lots of work to do on my spread sheets. Well..... maybe just a gap play.

Well after 4 days of trading... im up a few hundred.... not bad.
I expected alot worse. Good luck tomorrow!!
:)
 
UOTE]Quote from ksonsinc:

HEy lilduck
A action like today any one would have been shaken out
Your are lucky that u dint get caught in the sell off that was bleeding today i guess [/QUOTE]

Yup..... lucky is right!!:)

But luck shouldn't have anything to do with it. I must be more carefull..... spend more time studying. I thought i ways the only one that had problems today.


Im working on my trading plan and putting in place more rules...also working on a data spreadsheet.... AND... have to review more material i ordered. Gotta take some time off the mkts for a lilbit..... a few days. I hate getting lucky :mad:
 
Okay... my first day trade in a while. I did have a swing trade from Thu to Fri .... i swung the wrong way..... it was very painful. I went against my trading plan... got too emotional.

So anyways im back in the saddle again! So how was my first trade after such a huge loss??........ Sweet!! Today i sat behind the monitor and tried to be as robotic about my trading as possible... no emotion. Even though the YM rallied all morning, i wanted to short it. So i waited patiently.... and it was a perfect trade!!

In on 12:00 @ 10752
out 12:20 @ 10727
net P L ........ +25 pts

Done for the day!! :)
 
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