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Price Action Journal V1.5
- Thread starter TraderKaizen
- Start date
Another good day for me....although I did miss the LARGE move up around the oil inventory report...didn't want to trade around that one though.
The only thing I noticed that I did that was dumb, was on my first afternoon trade...notice I went long on a retracement (the right thing to do), but there was resistance almost right overhead!!! (doh!!) Even on good days I seem to have that one.."what the hell was I thinking?" trade.
Trade Breakdown:
#1: +1.9pts
#2: -1.2pts
#3: +3.0pts
#4: -1.2pts
#5: +5.5pts
Total: +8pts
The only thing I noticed that I did that was dumb, was on my first afternoon trade...notice I went long on a retracement (the right thing to do), but there was resistance almost right overhead!!! (doh!!) Even on good days I seem to have that one.."what the hell was I thinking?" trade.
Trade Breakdown:
#1: +1.9pts
#2: -1.2pts
#3: +3.0pts
#4: -1.2pts
#5: +5.5pts
Total: +8pts
Attachments
Quote from QQQBALL:
Anek,
thanks for the great thread you started... really appreciate your time & generous postings.
Everyone probably knows this, but if anyone here is new to PA, you must check out the AHG thread. There's a nice summary document someone put together around page 950.
Cheers
JW
Quote from traderTX:
Another good day for me....although I did miss the LARGE move up around the oil inventory report...didn't want to trade around that one though.
The only thing I noticed that I did that was dumb, was on my first afternoon trade...notice I went long on a retracement (the right thing to do), but there was resistance almost right overhead!!! (doh!!) Even on good days I seem to have that one.."what the hell was I thinking?" trade.
Trade Breakdown:
#1: +1.9pts
#2: -1.2pts
#3: +3.0pts
#4: -1.2pts
#5: +5.5pts
Total: +8pts
Hi TraderTX,
You had a great day, thanks for sharing your annotated chart. I had one question regarding your second trade that was stopped out. Was the retracement you're talking about at 736 based on the PA that occurred around 8:25 on your chart?
Thanks
JW
Thanks for reminding me, jfw215! I keep meaning to re-post some AHG and general Price Action documents here for newer traders. Here is the 1st of these posts. I will try to do this once a week until I run out of AHG/PA related documents.
Acknowledgements:
Anek: For creating AHG and for his many PA related posts. YOU ABSOLUTELY ROCK, DUDE!!
HWKaiser: For creating most of the documents that I will be re-posting here.
StealthTrader: For all his great Price Action posts here in ET, I have learned a ton from him. Wish he would drop in here at the Price Action Journal V1.5 and post a chart sometime.
Ok, 1st document is a collection of StealthTrader's posts here on ET compiled by HWKaiser. Enjoy!
Cheers,
eD
Acknowledgements:
Anek: For creating AHG and for his many PA related posts. YOU ABSOLUTELY ROCK, DUDE!!
HWKaiser: For creating most of the documents that I will be re-posting here.
StealthTrader: For all his great Price Action posts here in ET, I have learned a ton from him. Wish he would drop in here at the Price Action Journal V1.5 and post a chart sometime.
Ok, 1st document is a collection of StealthTrader's posts here on ET compiled by HWKaiser. Enjoy!
Cheers,
eD
Attachments
Quote from TraderKaizen:
Thanks for reminding me, jfw215! I keep meaning to re-post some AHG and general Price Action documents here for newer traders. Here is the 1st of these posts. I will try to do this once a week until I run out of AHG/PA related documents.
Acknowledgements:
Anek: For creating AHG and for his many PA related posts. YOU ABSOLUTELY ROCK, DUDE!!
HWKaiser: For creating most of the documents that I will be re-posting here.
StealthTrader: For all his great Price Action posts here in ET, I have learned a ton from him. Wish he would drop in here at the Price Action Journal V1.5 and post a chart sometime.
Ok, 1st document is a collection of StealthTrader's posts here on ET compiled by HWKaiser. Enjoy!
Cheers,
eD
TK,
Thanks for posting the StealthTrader summary. I'll make sure to read over it. I've seen some great contributions from ST on AHG and Susana's old thread.
Cheers... back to work...
JW
Quote from jfw215:
Hi TraderTX,
You had a great day, thanks for sharing your annotated chart. I had one question regarding your second trade that was stopped out. Was the retracement you're talking about at 736 based on the PA that occurred around 8:25 on your chart?
Thanks
JW
JW,
Yes...after that long up move, I was looking for a retracement down to the previous swing high...which was around the 736 area. Normally I don't use pre-market swing hi/lo's...but that one was close enough to market opening so I felt it would be fine. My stop was set 2 ticks lower than the low of the previous bar (2nd down bar)....I like 2 ticks rather than 1 on the ER2, for both entries and exits.....any other questions let me know....hope this is helping...
-traderTX
Quote from Max22:
Mccullek,
Thanks for that great post on your trades today. Nice going. Can you clarify what you mean by a two bar entry and a three bar entry? Is a two bar , two bars side by side at a s/r point, and a three bar , a three bar side by side?
thanks again
Max
A picture here would be easier than describing I think.
The 2 bar entry is the same, only I enter on a break of the low of bar 2, rather than bar 3.