Matcha's Dow E-mini Journal

Quote from Bolimomo:

Good work Grasshopper!

But I might have spent too much time on another planet. I recognize what HH and LL mean. What is BO PB H1 H2 H1s? Mostly what is H1 H2 H1s?

PO?

TYA...
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HIHI! where have you been ?

They are all from Al's lingo
H1/L1= 1 leg pullback long/short
H2/L2= 2 leg pullback long/short
All the with trend Bull/bear flag set up. corrective move, Variations of ABC

Sorry for BO PB, I made this up.
BOPB= Break out Pull back. It could be from the bear/bull channel, pivot high/low, a tight trading range. trend line, trend channel line etc... Usually it's also a H/L or L/H...


:D
 
Quote from Matcha:

Lots of trading range price action behavior. SOH for most of the day.
Well, tomorrow then!

PnL: -$32. -6pts. 1 trade.
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Hi Matcha,

You are smart to SOH most of the day!

My trading today: :( (3 trades, 3 strikes, 2S-, 1L-, 0%WR, -4.5 ES pts.) :(
- I am humbled by today's "lots of trading range price action behavior"! Did poorly on all 3 trades.
- 8:59am p.t. took a SHORT at a "perceived" L2 setup. Stopped out at the max -1.50pts.
- 9:43am, the market was on an uptrend, took a LONG after a small PB. Didn't take a small profit, got stopped out for -1.50pts.
- 10:38am, market started to break from the top of the channel, took a SHORT trade a bit too early, got stopped out, -1.50pts. Then saw the market went straight down for 6 pts. :(

Lots of lessons learned today: watch out for trading range days. Better SOH than taking low prob trades especially when MA was pretty flat (trade #2 & 3). Don't count on "lunchtime doldrums" trades to bail me out (trade #2 & 3). Better action might be in stock near the last couple of trading hours. I guess the only thing I did right today was to stop trading after 3 strikes!

Let's do better tomorrow!

--po
 
Quote from PatientOperator:

....

- 8:59am p.t. took a SHORT at a "perceived" L2 setup. Stopped out at the max -1.50pts.
- 9:43am, the market was on an uptrend, took a LONG after a small PB. Didn't take a small profit, got stopped out for -1.50pts.
- 10:38am, market started to break from the top of the channel, took a SHORT trade a bit too early, got stopped out, -1.50pts. Then saw the market went straight down for 6 pts. :(

Lots of lessons learned today: watch out for trading range days. Better SOH than taking low prob trades especially when MA was pretty flat (trade #2 & 3). Don't count on "lunchtime doldrums" trades to bail me out (trade #2 & 3). Better action might be in stock near the last couple of trading hours. I guess the only thing I did right today was to stop trading after 3 strikes!
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There is always tomorrow... try to loss small... Believe me, you learned! Your losses are more valuable than the winners.

By the time I was stopped out from the only trade of the day. I realized that it's the TR behavior. MA is slight down but almost flat. Trend didn't contiue down but was reversed. Bears and bulls are in equal balanced

on your trade 2. I saw a failed H2 pattern on the top of the trading range. I was think of going short when you went long. I almost had to tie my hands so that I don't push the "sell button" since right now it's not part of the trade I am working on... I am only focusing on the "clearest and obvious" trade. Although the trade worked...

I think 12:40 H1 long + BO PB long is the only trade that qualify our setup today, but time of the day is not at the best advantage...

There is always tomorrow!If not tomorrow, the next tomorrows!!

:p
 
Hi Matcha,

Thank you for posting so many journals on Al's trading method, and hope you will be successful some day, and we can learn something from you.

I spent 3-4 months to read Al's book for couple of times, and paid three months for his Live Trading Room, but I never could make it work. His method sounds good, but he has too much variables, it is really hard to follow, not just his book. He stated in his book "only use 5 minutes chart" to trade, but in his Trading Room, he always refer 60 minutes charts, 15 minutes charts, and a lot of trend lines, ....

Is anyone on ET who can successfully trade by Al's method?
 
Quote from Matcha:

HIHI! where have you been ?

They are all from Al's lingo
H1/L1= 1 leg pullback long/short
H2/L2= 2 leg pullback long/short
More...

Hmm... no wonder. The Brooks' Camp. :)

I had found a cave and went in and sealed the entrance to meditate for seven years. I told my apprentice that I may not be disturbed under any circumstances. I am developing my next level of kung fu that is to shock the world... :D
 
Quote from Matcha:

There is always tomorrow... try to loss small... Believe me, you learned! Your losses are more valuable than the winners.

....

since right now it's not part of the trade I am working on... I am only focusing on the "clearest and obvious" trade. Although the trade worked...

I think 12:40 H1 long + BO PB long is the only trade that qualify our setup today, but time of the day is not at the best advantage...

There is always tomorrow!If not tomorrow, the next tomorrows!!

:p
More...

Thank you, Matcha!

I agree with you that the losses are more valuable than the winners while we are learning. It will path way for better things to come!

Yep. The one setup that looked the most clear cut was at the 12:40 H1 (or H2 on the 2 min chart). I ran out of strikes at that point!

:) :) I love it - "There is always tomorrow! If not tomorrow, the next tomorrows!!"." Way to go!!!!!!

--po

P.S. Are you watching the Australian Tennis Open? Don't miss a good one tomorrow (Wed) evening. Li Na from China is playing at the semi-final against the #1 seed. Should be a great match!
 
Quote from traderharley:

Hi Matcha,

Thank you for posting so many journals on Al's trading method, and hope you will be successful some day, and we can learn something from you.

I spent 3-4 months to read Al's book for couple of times, and paid three months for his Live Trading Room, but I never could make it work. His method sounds good, but he has too much variables, it is really hard to follow, not just his book. He stated in his book "only use 5 minutes chart" to trade, but in his Trading Room, he always refer 60 minutes charts, 15 minutes charts, and a lot of trend lines, ....

Is anyone on ET who can successfully trade by Al's method?
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Hi, Traderharley.
Thank you. I hope I can be CP too. I will keep working towards the goal.

About Al's method. I hear you completely. I had the confusing moment before too. I still do often times. I think Al (and most of methods) are very subjective. All the set ups and signals are easy to learn and be taught but very hard to trade in real life. It takes lots of experience to understand the market. After you get familiar with the pattern. The most difficult part is to assess when to take the trade when not to take.

After 1000 hours studying his method, I learned to adapt and dump. I am working on building up my own system for YM. Nothing new, but I just have some rules that I will take/or not take the trade. No matter what Al thinks. He might think it's risky but certain time I would like to embrace the risks. Let's see if the system will work for me.

Don't get discouraged. Don't give up. Give yourself more time. Keep learning and watching the market. Trade in sim for a while and learn to assess why setups works, why not. And only started to foucs one with trend setup for now. It makes your trading life easier and happier.

As far as I know, Nodoji took great concepts from Al's book too. But she has also built her own solid trading system that generate incredible returns. Everyone is different.

You will find your own soon! Feel free to PM me with any thoughts about the method!

Good luck!:)
 
Took 2 trades today.

9:01, long. Entry on 2 min. The entry is too premature. -6tk

9:44 long. Failed L2 at EMA. Stopped out for a small profit +6Tk

PnL: -$4.8. 2 trades, 50% winrate.
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Quote from Matcha:

Took 2 trades today.

9:01, long. Entry on 2 min. The entry is too premature. -6tk

9:44 long. Failed L2 at EMA. Stopped out for a small profit +6Tk

PnL: -$4.8. 2 trades, 50% winrate.
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Hi Matcha,

You did good to not overtrade today especially after the FOMC meeting announcement. It was tiring staring at the choppy ups and downs.

My trading today: (1 trade, 1S-, 0%WR, - 1.75pts.)
- 8:55am p.t. Short. Entry on 2 min chart. Didn't take a small profit. Got stopped out.
Lessons Learned - Got all messed up with my protective stop this morning. Wasn't paying attention. Need to adjust the stop after entry and after the price has gone in the intended direction.

Good trading tomorrow!

--po
 
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