Matcha's Dow E-mini Journal

Quote from PatientOperator:

Hi Matcha,

Glad that you now have the first week of LIVE trading experience under your belt!!!!! A great journey starts with the first step. And I know you are on the right track. You will soon "withdraw" what you have "invested" into the market plus a lot more!!!!

Price histogram and volume profile are new to me. I may start looking into these goodies.

Have a great weekend everyone!

--po

P.S. Remember to be "picky" and not to overtrade next week... :) :) And don't press the wrong button! :) :)
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Thank you,PO!
You are such a great trading partner! Always keep my learning list in check!
Do you have VP indicator in your trading software?
Good luck to you too!:p
 
Quote from FreeMarketRider:

You just made me smile :)

Many years ago (before WWW) my first exposure to learning about trading was on CompuServe's financial forums. On line stock trading was just becoming popular and I posted a message lamenting the lack of on-line futures trading. I got a reply from someone who outlined the relatively small number of participants vs the number of on line equity traders. He said that vocationally the demographic was pretty closely split between two groups - Farmers, and Engineers. As President of ETrade, I think he was in a position to know. He said they looked at it, but decided it was not a profitable enough to offer brokerage / clearing services. How things have changed :D

BR/
FMR
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wow, you are definitely a great engineer and a visionary. I think with both strong left-brain and right-brain, you could be a very successful trader, not only in trading but in any industry.

:D
 
Quote from Went Fishing:

Matcha,
Forgive me for not realizing you would be trading the Z contract Friday morning. I had just gotten the CBOT mini data that day and I guess I was caught up in some sort of "irrational exuberance", I'll get the Z to you. As with most indicators the P/H has it's strengths and weaknesses.
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Thank you, Went Fishing! You are too polite!
I really like the indicator. But I will need more time to play with it and really know when to look at it and when not to.
....

#%It Happens :) [/B]
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LOL
 
Quote from Bolimomo:

Wow! This is awesome! This little girl has grown up now! :)
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Thank you,sifu! I consider today is still a random outcome. Let's see how the month ends.

But I definitely did something right today!
 
Quote from Matcha:

Market gapped up 70 Points at the open. The previous resistance level 10395 has been taken out. I would look for next resistance level 10622. But for today, the plan will only be buy at pullback.

TRADE A: Long
7:00 A clean buy set up shows up. Classic D/B(with premarket) pullback trade. Didn’t plan to hold on for a 3 leg push since market is making it’s 3rd wave move. (Gap-wave 2).
Besides the momentum dries up at 7:45. So time for me to get out in order to protect profit.
26 pts

I thought after the move, today will again be those choppy price actions most of the day. But at 8:00 market sell off 80 points. With such a steep sell off, I don’t want to jump in and buy immediately; plus it will be painful to jump in buy at the doldrums to observe overlapping candle movement. So I would want to wait and see more confirmations even though I might miss the trade. So I choose to wait.

11: 00 A W bottom formed at the MA. It was a nice pattern to get in. I hesitated, so I miss the entry. So I waited again for a breakout pullback from base(if the base is going to form).


TRADE B: Long Nice breakout pullback set up. Although its’ not the cleanest look!

The trade was painless. I took profits right away at the next R level which is also a measured move from base, since its’ near close, I didn’t want to bet on it’s retest to HOD, and it didn’t test the HOD.
27 Pts

Today’s PnL: +260, 2 trades.

Wish everyday is like today… ;-)
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Congratulations! Another NoDoji in the making.
 
Matcha,

Just got caught up with your journal...Awesome to see you trading live! Even more awesome that you bounced back today after a not so good start to live trading! It looks like you kept your emotions in check last week which was impressive (I'm still working on this :) )

Glad to see you had a great day!
 
Quote from Matcha:

So I would want to wait and see more confirmations even though I might miss the trade. So I choose to wait.

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Today’s PnL: +260, 2 trades.

Wish everyday is like today… ;-)

....
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Hi Matcha,

Awesome trading!!!!! Congrats on your big day today!!!!!!

You will have many more days like today! The WAITING is your secret weapon that I am sure you already know.

I need to learn from you on keeping my trades in check to wait for the right moment. Today, I started out doing quite well in the morning sticking to my trading rules (trading with the trend and waiting for a pull back to enter the trades). But later in the day I started tweaking my rules on the fly and ended up giving back all I made. Lessons learned - I've got to follow my trading rules and WAIT for the right moment!

Quote from Matcha:

You learned super fast!
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Still lots to learn from you and from other sifu(s) here.



Quote from Matcha:

Thank you,PO!
You are such a great trading partner! Always keep my learning list in check!
Do you have VP indicator in your trading software?
Good luck to you too!:p
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Thank you.

Ditto - I am very happy to have a great trading partner like you. I too need to be reminded everyday. We can conquer this trading thing......

I think I have the VP indicator in my charting software, but haven't used it yet.

Best trading to you!

--po
 
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