Making of a method
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Very interesting point of view, good trading tomorrow.
FT Day 153 April 15th
http://www.sierrachart.com/image.php?l=1397577513913.png
http://www.sierrachart.com/image.php?l=139757793386.png
1. Bias being supported - Aggressive Long.
2. Scale in as it breaks 94. But starts stalling at this crucial zone so exit.
3. A rejection. Exit last long. Pace slows down and am thinking congestion. Pace picks up and clear as daylight 2nd rejection. Thinking short off extreme but made a mistake in waiting for the smallest of hesitations. The LOLR was all set by the rejection - a hesitation was not going to add anything more to it. Mistake of the day.
Practicing trading off extremes so no entries after the best one had been missed earlier.
4. Next opportunity to confirm that this was a cascade and to join in.
5. Rapid drop to extreme. Aggressive long. Scaled in and gave it room.
6. Impulsive trade. Dominant trend was down and congestion had taken all the the energy off the extreme. No need to be clever here.
http://www.sierrachart.com/image.php?l=1397577513913.png
http://www.sierrachart.com/image.php?l=139757793386.png
1. Bias being supported - Aggressive Long.
2. Scale in as it breaks 94. But starts stalling at this crucial zone so exit.
3. A rejection. Exit last long. Pace slows down and am thinking congestion. Pace picks up and clear as daylight 2nd rejection. Thinking short off extreme but made a mistake in waiting for the smallest of hesitations. The LOLR was all set by the rejection - a hesitation was not going to add anything more to it. Mistake of the day.
Practicing trading off extremes so no entries after the best one had been missed earlier.
4. Next opportunity to confirm that this was a cascade and to join in.
5. Rapid drop to extreme. Aggressive long. Scaled in and gave it room.
6. Impulsive trade. Dominant trend was down and congestion had taken all the the energy off the extreme. No need to be clever here.
Wow I have never felt a year go by this fast! Thanks for everything.
3...
yea its pretty tough to be aware of whats going on right now (during trading).. even if u planned
ahead before the session begins and even more so during the action ie. at the same
time (as it happens) .
beeing open / Flexible while seeing Realtime action + keeping the whole picture in
mind and trying to trade/look in foresight... is a tough nut to crack..
here is what one would might have missed
kp your observations are getting quite good
LOL... laughing is better than crying! Now lets learn from it!
3...
yea its pretty tough to be aware of whats going on right now (during trading).. even if u planned
ahead before the session begins and even more so during the action ie. at the same
time (as it happens) .
beeing open / Flexible while seeing Realtime action + keeping the whole picture in
mind and trying to trade/look in foresight... is a tough nut to crack..
here is what one would might have missed
I would have shorted slightly higher up at 94 on your chart (86 on mine). Seems we are using different contracts. The reason for the short was the rapid rejection of the 2nd attempt made by Buyers for the High. In real time I saw this, but somehow imposed the need for a small mini ret before taking the short. As I noted in my review, this was pointless. The smaller ret would not have given me any more confirmation than that already provided by the earlier rejection.
Did not take any further continuation shorts because of it being in the middle of the Opening Range.
I am re-calibrating a bit. Attempting a shift to a slightly more big picture view. This is resulting in hesitation. I have to reconcile mean reversion with trend. But one thing I have learnt in this 1 year of journalling is that such periods always eventually lead to a better method.
Mademan the nut is being cracked! Appreciate the feedback.