Hi Matcha,
I really like what you said. We should (at least for the moment) join the early fight only, riding the with-trend trades and let the top warriors battle out at the extremes!!!!
--po
Matcha's Dow E-mini Journal
- Thread starter Matcha
- Start date
Hi Matcha,
I really like what you said. We should (at least for the moment) join the early fight only, riding the with-trend trades and let the top warriors battle out at the extremes!!!!
--po
Quote from Matcha:
I am thinking we can make a movie out of the thread and your book. I am ready to audition for the "matcha" role.
matcha.. please reserve 10 tickets for me ... i am bringing my friends to support the movie!
P/S: i'm sure the movie will be a hit and you'll make lots of $ $$$, then open a big account to trade, no need shopping in k-mart anymore lol.
I donât like today. A big negative dayâ¦
Nothing really works for me today. Market open gapped up more than 100 points. Then continue to head higher. I did not participate because I have no confidence to enter with the trend at the open. The first trade is in my favor, but stopped out for nothing. I set target to R2 level and it didnât hit, then came back hit my stop. Reentered, stopped out again.
The last 2 hour session is a mess. Keep entering longs. Kept hitting stops. Looks like I am buying all the false breakouts. Took one short trade.- breakout signal. Stopped out. Then flip to long. Stopped out by volatilityâ¦.
I donât know what I am doing anymoreâ¦
TRADE A: Long, buy pullback. I set target to R1. it didnât hit. 26pt profit turned to 6Pts
TRADE B: Short. Market broke the consolidation area. I shorted immediately. Price came back, hit the stop.
-10Pt loss
Todayâs PnL: -$191, 7 trades, 29%winrate.
Nothing really works for me today. Market open gapped up more than 100 points. Then continue to head higher. I did not participate because I have no confidence to enter with the trend at the open. The first trade is in my favor, but stopped out for nothing. I set target to R2 level and it didnât hit, then came back hit my stop. Reentered, stopped out again.
The last 2 hour session is a mess. Keep entering longs. Kept hitting stops. Looks like I am buying all the false breakouts. Took one short trade.- breakout signal. Stopped out. Then flip to long. Stopped out by volatilityâ¦.
I donât know what I am doing anymoreâ¦
TRADE A: Long, buy pullback. I set target to R1. it didnât hit. 26pt profit turned to 6Pts
TRADE B: Short. Market broke the consolidation area. I shorted immediately. Price came back, hit the stop.
-10Pt loss
Todayâs PnL: -$191, 7 trades, 29%winrate.
Thank you , Picasso!( I like your name)
wow! great looking analysis and visual(no wonder your name is picasso)! I can see that how important to hold position longer and let winners run.
Sometimes I think it's probably easier to trade 2 contracts. I can let the other contract run after I adjusted the cost. No anxiety. But before doing that, I need to make sure my entries and directions of the trade are getting better and better. In other words, the entry needs to be very "accurate". So I think right now, working on entry is more important than exit...
I am trying very hard to hold postions longer today(assuming the trend is going to continue). Today I let go 25 Pts and get 5 Pts in return....
I like the sad face after "% Net profit - before expenses & taxes". LOL
Quote from Matcha:
I donât like today. A big negative dayâ¦
Nothing really works for me today. Market open gapped up more than 100 points.
...
I donât know what I am doing anymoreâ¦
Price came back, hit the stop.
-10Pt loss
Todayâs PnL: -$191, 7 trades, 29%winrate.
Hi Matcha,
Ditto for a bad day in PnL. My winrate was 33%.
I think today was mostly stuck in a pretty narrow range if you take away the first half hour. ES was trading mostly within a 5 point range. One has to pick the top and the bottom with a sniper precision to capture a descent profit. Not a very good day to ride any trends and let the profit run.
Keep the Spirit up!
--po
Today was a day where if you didn't play the opening range breakout (ORB), you'd likely start forming opinions about "too high" and reversals. Then if you got whipped around or failed to take any trades, you might feel like you did nothing and start trading the midday mush, as I like to call it.
The best moves happen in the first 2 hours. Take advantage of them quickly. Avoid the midday mush. Then watch for the late-day breakouts, which is the hardest thing to do because the mush has lulled you into a semi-coma by then.
I missed the ORB, had 2 counter-trend trades off exhaustion plays (netted me lunch money), and one confirmed counter-trend trade (netted me almost but not quite my min daily profit requirement), admirably avoided trading the midday mush (this is a sign of real progress in your trading career), was lulled into a semi-coma and missed the late-day breakout because it was so delayed. To get around this happening, I've decided to always try and have my buy/sell stops in place in advance.
The best moves happen in the first 2 hours. Take advantage of them quickly. Avoid the midday mush. Then watch for the late-day breakouts, which is the hardest thing to do because the mush has lulled you into a semi-coma by then.
I missed the ORB, had 2 counter-trend trades off exhaustion plays (netted me lunch money), and one confirmed counter-trend trade (netted me almost but not quite my min daily profit requirement), admirably avoided trading the midday mush (this is a sign of real progress in your trading career), was lulled into a semi-coma and missed the late-day breakout because it was so delayed. To get around this happening, I've decided to always try and have my buy/sell stops in place in advance.