Matcha's Dow E-mini Journal

Quote from Bolimomo:

Hola, ¿qué pasa! Excelente!!! :D
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Hola Amigo ... fabuloso (mo de teng in cantonese) now i can buy many pairs of jimmy choo shoes but i won't coz i am not imelda marcos and i'm q.tall so no need many killer heels lol.

Still i wanted to thanks my lucky pet-Perfect Paul the octopus.. he is fantastico .. now the dutch wanted to turn the octopus into Paella but the Spanish Prime Minister Jose said he's providing Paul with a bunch of bodyguards!:D

~la vida es bella:p
 
Errr, overtraded again. The tight trading range days can be so challenging. All days, I “thought” the range can break out in late trading hours! (not break out to the moon for sure, but at least break out the trading range to R2 or 0.5R2). So I had given up a few profits just to bet on the breakout move. Then I played some range day “Fade the move” trade, one trade was done OK. Well, the break out never happened, probably because it’s the first day of the earning season. The market is still resting.

Took a nap after 8amPST, I was so tired, talking on the phone with mom for too long last night…

Came back at 10:30PST. Gave back market all the profits after 12PST, thought those bad trades were leading to breakout trades…

I am getting a bit used to look at 3- 4 time frames now, 30min, 15 min, 5 min and 2 min to count the wave and see details. I looked at them mostly at the market now. I sometimes flip to 60min and daily chart as well. Hopefully I can be more flexible and can coordinate 4 time frames harmoniously to fine-tune the best high probability trades. I wish it does not take too long for me…

Trade A: a short, on 15 min chart, it was a pullback leg after the yesterday’s run up, 2 leg push down on 2 min, 5min chart, the EMA angling down, I took a quick shot. Took profits at the PP level right away. Then headed to bed…

Trade B: 3leg push on 2 min chart. Stopped out twice before this trade, I thought those were good entry for break out pullback trades…

Market has been trading in tight range for 2 days, not sure if it can finally break this range tomorrow, but there was a strong R level on top of the range 10200, I should be very cautious on that.

Remember myself: reducing the # of trades tomorrow.

Today’s PnL:-$81, 13 trades, 40% winrate

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Quote from Bolimomo:

Okay Grasshopper. Here is my tip of the day. Here is your "wax on wax off" practice on multiple time-frames. It is quite easy with TradeStation's charts.

First: Do you use Google maps online? Are you good at reading maps in different magnification levels? Pick a city. "San Francisco, CA" for example. Then use the up/down arrows to zoom in and zoom out. When you zoom in, you see more details. When you zoom out, you get a bigger picture. Different magnifications serve different purposes. When you need to go from San Francisco to San Jose, you need a lower magnification so you can see the freeways. So you know US-101 will take you there. But when you get to San Jose, you want to find Main Street in down town, you cannot stay in that magnification level. You need to zoom in to a level high enough that it would show the street details. Practice. Zoom in... zoom out... zoom in... zoom out.

........
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The description of the "Google Map" is very cool. It helped me understand the timeframes more. you are a cool SiFu
 
Quote from PatientOperator:

Hi Matcha,

Congrats on another profitable week!!!!!

Like everyone has talked about not to overtrade, I, too have reduced my number of trades on Friday to 5 trades, 4 BUYs and 1 SELL. The SELL was a loss! Bias was still to the up side. I agree that it is easier to analyze at the end of the day with less number of trades. In this case less is more compared to the previous 3 days, I had 12, 13 and 14 trades!!!!

I noticed your Trade A & B are both BOPB setups. Those are great G-Rated setup as NoDoji had said. Most of my mistakes this week had been chasing the market after the BO. Next week I will focus mainly on trading with the trend AND waiting for a PB. Only G-Rated stuff. :D :D

Boli has some great ideas on monitoring multiple timeframes. How many monitors do you use for trading? May be you can have all the charts displayed in at the same time. I used 2 monitors (I wish I have more) and have 4 timeframes displayed - 30, 5, 3 & 1 mins.

Have a nice weekend and great disciplined multi-timeframed trading next week!

--po
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I like those BOPB trade. Although the profit is smaller then buy in low in the trading range and buy right after break out of the range!

The overtrading habit is so difficult to overcome. I did it again today... Especially in range days...
:mad:

Humm, monitors... I wasn't so sure if the day trading thing could work when I started out. So I did not invest in any monitors. I now trade on a 6GB laptop and while traveling I use a 4 GB laptop....

Now I am considering getting monitors. one of my lasik surgeried eyes gets blurrier and blurrier everday....
 
Quote from Bolimomo:

Hola, ¿qué pasa! Excelente!!! :D

Matcha please make lots of money then you can sponsor me to see the World Cup final in 4 years!
:D
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Let me make this as another goal!!

Wouldn't be nice if we can all meet at the World Cup in 4 years?

:cool:
 
Quote from ~~~:

You and Matcha are sooooo welcome! .... You and Matcha are kinda "two of a Kind" coz one is so sweet , another one is so charming!
OMG! i really hope you two are going to be very successful in trading.

have a great weekend.:D
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Hi ~~~,

You made me double flush now! :)

I am pretty sure you are a very sweet, charming and moreover, a very successful high achiever.

Thank you very much for your best wishes.

--po
 
Quote from Matcha:

I like those BOPB trade. Although the profit is smaller then buy in low in the trading range and buy right after break out of the range!

The overtrading habit is so difficult to overcome. I did it again today... Especially in range days...
:mad:

Humm, monitors... I wasn't so sure if the day trading thing could work when I started out. So I did not invest in any monitors. I now trade on a 6GB laptop and while traveling I use a 4 GB laptop....

Now I am considering getting monitors. one of my lasik surgeried eyes gets blurrier and blurrier everday....
More...

Hi Matcha,

Sorry to hear your lasik surgeried eye. Hope the doctor can do something about it.

Yeah, a couple of big monitors will help to monitor multiple charts at different timeframes all at once without having to flip between the charts on the "lappy".

Today, I did really bad as usual with the tight range bound day. The only thing I achieved was I did only 3 trades. But, All 3 got stopped out. 0 out of 3, very depressing. It's one of those days, nothing worked for me. :confused:


--po
 
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