Matcha's Dow E-mini Journal

[FreeMarketRider]

Quote from Matcha:

[/B]

Nice chart analysis. Trading is a business where no one gives away money. Nice work on A and B. I like your shift to channel trading but it doesn't always work. Being able to shift back to short at A shows us you are a flexible warrior. What was it about the morning that made you feel it was a high risk entry? (Just curious. I'm here to learn not criticize). I like NoD's idea of placing by / sell stops above / below for entry during uncertain periods. I never though of using them in that way till I read her comments here on ET. I think she uses them a lot in CL to catch breaks.

Play your game. One step at a time. Many (including me) are watching and learning. Thanks

All the Best/
FMR

 

[NoDoji]

Quote from FreeMarketRider:

I like NoD's idea of placing by / sell stops above / below for entry during uncertain periods. I never though of using them in that way till I read her comments here on ET. I think she uses them a lot in CL to catch breaks.

I got the idea from Al Brooks and it took me forever to actually start doing it. We all want to buy pivot lows and sell pivot highs, and waiting for confirmation means you're giving up some of the move. But there's value in waiting for that confirmation. You're letting price, rather than your opinion, tell you where it's actually going and by using a stop order price takes you into your trade. It seems kind of odd to enter trades that way if you've never done it. I'm wanting to go long for example and price is maybe $80 from where I've placed my buy stop. Why not just go long now, you're asking? Well, because I want buyers to prove to me they really want it bad enough to bid price up through a previous resistance level and when my stop is triggered so are the stops of all the shorts who're now in trouble and I should get enough follow through to lock in a very small loss or a break even trade in case the break fails.

 

[PatientOperator]

Quote from Matcha:

Tomorrow will be another day! Good luck to your trades! I thought I would forward this to you since you are my great partner! But I am sure you have read this a lot! "NQoops" take on trading just one set up.

http://www.trading-naked.com/Setups.htm

Hi Matcha my great partner!

You are awesome!

Thank you very much for the link. It is a wonderful website! I have never seen it before. I like the idea of trading one set up. First master it and feel at ease with it rather than overloading with too many concepts. For the last few months, I have tried a lot of different things. Right now, I try to narrow it down to something that I am most comfortable with.

Quote from Matcha:

A challenging day for me today. Luckily, I didn’t lose much.

You know what, like I said earlier, you played great defense today.

I started the day with the same long trade you had at your first trade with the same reason and got stopped out at a loss. I was lucked out when I took a Long trade (at the same spot you had your Trade B) and went to the kitchen to make a cup of coffee and came back to see it hit my profit target. I would have taken profit sooner had I stayed close to my monitor. Ended the day with a small profit. I am still learning how to have more staying power to let the profit run. I tend to take profit too soon and let the losing trades drag on longer even though I know the wall street maxim by heart that I am suppose to do the opposite!

Best trading to you. Be careful on Thursday and especially Friday. It's the options/futures expiration day (Quadruple Witching)! Things might be treacherous!

--po

 

[~~~]

Quote from Matcha:



LOL. Its the faith. Always run into Engineers. Most of my past dates were engineers... Most of my friends married to engineers too!

Saved us lots of money to hire plumbers, computer repairers, house maitnances... Just j/k

hmmmmmm....Engineer = Smart + handyman = Very Attractive!!!
..Boli, PO. FMR and who & who = All AAA+++ Engineers
now, sweetie .. you should get an engineer as a BF... Good Luck Girl!

 

[Went Fishing]

Quote from FreeMarketRider:

Nice chart analysis.
What was it about the morning that made you feel it was a high risk entry?
I like NoD's idea of placing by / sell stops above / below for entry
Play your game.
One step at a time.
All the Best

Matcha,

Nice chart analysis. ,,, I agree.

What was it? All trades have the element of risk, as traders we control our risk with stops. I've noticed you shy away from really good trends, I invite you to ask yourself ten times FMR's question; What was it about the morning that made you (me) feel it was a high risk entry? Ask this question over and over until the answer to the question is the same 10 times.

A comment on ND's use of buy / sell stops above / below for entry. I use this method myself, often If I have a target in mind (Indicator band or tightening range band) and missed my entry or my entry wasn't filled I'll give up a little profit and get in front of the market with a stop order as ND described. I prefer pull backs but if I can't get filled I'll use this method, I like putting a limit order on my target immediately (if I'm trading a band or tight range) that's the profit I'm after if I was right prices may reverse quickly and take back my already limited profit.

Play your game. I'm beginning to wonder what this is? You've changed several things since you started trading live.. It may behoove you to get back to basics and really define your style and method... My best trading comes from replication, being able to reproduce the out come by by having a method that consistently reproduces proven signals again and again.

One step at a time. If you want to shake things up, go back to sim for a week or so, changing your system is like changing drivers while you're driving down the freeway!! Yes it can be done but be very careful.

All the Best

 

[athlonmank8]

Quote from NoDoji:

I got the idea from Al Brooks and it took me forever to actually start doing it. We all want to buy pivot lows and sell pivot highs, and waiting for confirmation means you're giving up some of the move. But there's value in waiting for that confirmation. You're letting price, rather than your opinion, tell you where it's actually going and by using a stop order price takes you into your trade. It seems kind of odd to enter trades that way if you've never done it. I'm wanting to go long for example and price is maybe $80 from where I've placed my buy stop. Why not just go long now, you're asking? Well, because I want buyers to prove to me they really want it bad enough to bid price up through a previous resistance level and when my stop is triggered so are the stops of all the shorts who're now in trouble and I should get enough follow through to lock in a very small loss or a break even trade in case the break fails.

You can do the same for limits too Buy the level and keep the stop tight

As for the stop limit I like to know fundamentals for the underlying thrust. Example right now would be the Yen trade. You know the buyer is the gov't so any breakout should be a high % trade.

 

[Matcha]

Stayed away from early morning news. Entered a long position after news released. Then TradeStation disconnected me. Luckily I had a stop on. After logging back in my account, I closed the trade regardless. Then TS again ran into some problems. Called tech support, voice record says they are fixing the issues.

11:00am TS works fine. But I didn’t miss anything. Market traded in a tight trading range. Large time frame looks like we are breaking the previous resistance.

Had a nice set up at 11:00am. I would take it if the market is trending. In a tight range day, I didn’t want to take the risk… It’s the type of the day that “tight range lead to breakout at the end”

12:00 The 2nd change entry sets up. The outside bar shows aggressive breakout buyers are stepping up. Buyers are overwhelming sellers…It happened too fast, I missed the entry.

Then I entered on the continuation breakout pattern. I was willing to take a bet on the momentum. It worked out nicely after I entered, Then a red candle with extra long tail and body took my stop. I am glad I had my stop at b/e this time. But then buyers come back in move the market up another 20 points this time.

I was left out by the late day breakout. The breakout I have been waiting for last 2 days…:-(

Today’s PnL: -$34. 2 trades

 

[Matcha]

Hi, Wentfishing.
You have great eyes! You clearly identify my recent problems. The problems I have... again. I have been contradicting about my setups while live trading.

What was it about the morning that made you (me) feel it was a high risk entry? Ask this question over and over until the answer to the question is the same 10 times.

It was a bearish close from the day before and we had been up for a series of days. Plus the bottoming tails were large,if i were to take it I would risk 18 Pts on the trade. the printing of the candles were volatile and fast, the opening always scares me. all of these hold me back and questioned my setups. But all those are unnessary of I have traded that set ups and that environment multiple-times enough to tell that the "demand" were very strong.

Play your game. I'm beginning to wonder what this is?..One step at a time. .

I am reviewing the charts everyday and asking myself that too...it looked like I constantly switch the plan.

Let me say this to myself again: I am taking pullbacks and play breakout pullbacks, look for D/B pattern, I work on bar by bar analysis , multiple time frames to qualify the trades and entries. Only buy/sell at S/R level, Only trade with trend. I am not playing range bound trades
I will stick to my rules.

I agree that I might need to go back to SIM to do more practicing. Let's see how I do next week. Charts and trades will tell all.

 

[Matcha]

Quote from PatientOperator:

Hi Matcha my great partner!

You are awesome!


You know what, like I said earlier, you played great defense today.
....
Best trading to you. Be careful on Thursday and especially Friday. It's the options/futures expiration day (Quadruple Witching)! Things might be treacherous!

--po

You are truth my great trading parner! You have been given me too much credit. Great trade BTW!

I totally forgot about the Quadruple Witching day.

Market broke to the upside at the close. I stopped out and didn't go back in....

Would probably SOH tomorrow unless it's the greatest trending environment... will see

 

[Matcha]

Quote from ~~~:

hmmmmmm....Engineer = Smart + handyman = Very Attractive!!!
..Boli, PO. FMR and who & who = All AAA+++ Engineers
now, sweetie .. you should get an engineer as a BF... Good Luck Girl!