Matcha's Dow E-mini Journal

[Matcha]

Price made it’s 3 push move premarket. No trade around the news so I waited.

First trade was pullback long at Pivot point at 7:16. Then price stalled, started to form a lower high. I quit the trade before it hit my stop. Then the sell-off began.

TRADE A: 8:01. Short. 10733, Breakdown, support became resistance. Took profit at YTD low. 20Pts. Did want to wait price to test 9.30 pivot low then came back run my stop. But the selling pressure was too strong. So I once again missed the whole move.

TRADE B: 10:56 short 10666. -7Pts. This is a perfect example of a bad entry. 10664 would be the entry.(one tick below 10:55 Doji bar). Instead I entered right away at market without thinking. So price made another push up before it came down. I was stopped out. If I had left the entry at 10664. Order would never have been filled. I would have taken the trade off and looked for the next signal bar to enter. So I wasted 7Pts.

TRADE C: 11:05. 10666 short. 12Pts. Now it’s a D/T, EMA short, no brainer entry. Took profit when I saw buying pressure came in after it tried to test LOD. Only 12 Pts, but I can’t ask for more…

Today’s PnL: +$108, 5 trades, 60%winrate

 

[NoDoji]

Quote from Matcha:

TRADE B: 10:56 short 10666. -7Pts. This is a perfect example of a bad entry. 10664 would be the entry.(one tick below 10:55 Doji bar). Instead I entered right away at market without thinking. So price made another push up before it came down. I was stopped out. If I had left the entry at 10664. Order would never have been filled. I would have taken the trade off and looked for the next signal bar to enter. So I wasted 7Pts.

Small price for a good lesson. Doji bar is indecision. Think of the doji as a self-contained range. You want to trade the break out of the range, preferably in the direction of the trend (in this case, down). However, there were already 4 good legs down off the early high, so the pullback will likely have 2 legs and may even reverse fully. In this case, you could've played the break of the doji to the long side, but if price didn't quickly run to next resistance, consider getting out and looking for a with-trend short entry when the upside break failed.

It was also a time of day where the big clean moves rarely occur, so you'd likely be scalping smaller profit targets or getting a lot of b/e stop outs.

 

[Matcha]

NOD,

Don’t want to overwhelm Matcha… You know what I’m referring to – so I'll step out


Matcha,

Keep on keeping on – you’re doing fine


RN [/B]

Thank you, RN!
Please step in anytime!
Matcha

 

[Matcha]

Quote from Bolimomo:




My "BoliGMMA" indicator is for sale. $150. You may buy it from Bolimomo Capital Management LLC.


The red/green histogram in subgraph 2 is a proprietary indicator "Volume With Direction" I bought from a trading software developer. It incorporates volume into a momentum indicator and I like it.

The bottom histogram and plots in subgraph3 is my own proprietary indicator. You can buy it for $150. LOL!

If SIFU can teach me to be CP and making 100Pt/day, I will think of getting the indicator from BCM LLC! But I will need a 60 day free trial and a F&F discount!

Learned bargain from you and ~~~

 

[Matcha]

Quote from ~~~:

Yeah Fashion Queen Matcha ... just "imagine" ... a modern beautiful lady dressed up like a 'christmas tree' and weared very heavy makeup & lot of jewelleries ... made her more beautiful?? or a beautiful lady dressed up with simple elegant dress with very little makeup & jewellery.... made her even more beautiful and more attractive??

sweetie ... sometimes "Simplicity" is beautiful & the best!!!
try doing some 'yoga' & 'meditate' and listen to some beautiful music ... it gives you a peaceful & clear mind to trade.

I started to hit the gym more often. But I can only spend 15 mins there. I felt so bored in the gym...

 

[Matcha]

Quote from jack411:

I always pay close attention to shooting stars. Even though it's not my main signal, they're very reliable reversal setups.

A little before 900 theres a short. A little before 1030 theres another short. I also probably would've taken the long setup at the intraday support just before 1100.

These were just scalps, but good for 10-30 points each. Don't overwhelm yourself with trying to look at too many things. What you've been doing is working great. If you look back through your charts though, shooting stars on a 5 min YM are pretty reliable at S/R areas.

...

Great advice on Shooting stars ! Thank you!

 

[Matcha]

Quote from nqcruiser:

if u care to look at s/r levels, u can find tons of opportunities on this chart. timezone is est. tons and tons of opportunies.

yes. there are so many many everyday. but I often get my direction wrong.:eek:

 

[Matcha]

Quote from NoDoji:

...
It was also a time of day where the big clean moves rarely occur, so you'd likely be scalping smaller profit targets or getting a lot of b/e stop outs.

It's been the problems I have lately. Try to ride swing(2 leg) after the "move of the day". But there is none swing to ride, all scalpers heaven! So now I got to learn to have a scapler's mind after Big move... Especially mid-day....

 

[Bolimomo]

Quote from Matcha:

If SIFU can teach me to be CP and making 100Pt/day, I will think of getting the indicator from BCM LLC! But I will need a 60 day free trial and a F&F discount!

Learned bargain from you and ~~~

That's a hard bargain!

100 Dow point a day huh? With 1 contract! That's equivalent to 10 ES points a day... I would love to have that myself!

But my indicators will always be free for life for starving students.

 

[Matcha]

Quote from Bolimomo:

That's a hard bargain!

100 Dow point a day huh? With 1 contract! That's equivalent to 10 ES points a day... I would love to have that myself!

But my indicators will always be free for life for starving students.

oh. nono.
100Pts for 3 contracts! Not sure when. Still having hard time playing one contract to get 20Pts a day now...