11pt....nice day.
I know what you mean about not wanting to lose your gains....I struggle with that as well.
Price Action Journal V1.5
- Thread starter TraderKaizen
- Start date
11pt....nice day.
I know what you mean about not wanting to lose your gains....I struggle with that as well.
doji's and confirmation on 3 bars.....got it.
Thanks Monday
Specterx...thanks for your input.
Crazy day...
Went back to Sim today. I want to get some consistency in my execution before going back to live.
3 trades
1st: big winner
2nd: BE+1
3rd: got stopped out, should have went long instead of short, I thought it broke the trend... must wait for a pull back to confirm going forward.
So hard to trade today with the crazy volatility you need 2x the stops as usual...
Went back to Sim today. I want to get some consistency in my execution before going back to live.
3 trades
1st: big winner
2nd: BE+1
3rd: got stopped out, should have went long instead of short, I thought it broke the trend... must wait for a pull back to confirm going forward.
So hard to trade today with the crazy volatility you need 2x the stops as usual...
Anyone have volume-bar-counter code for TS?
BYF
BYF
mdl,
I feel like I was on the right side of the trade; all shorts in a down trend. Each trade, except for the last trade, I thought I was selling at a reversal formation. jmonday was so kind enough to point out the following:
1st trade: tough call, although you took it on 3rd bar with no confirmation (previous bar had LL than 2nd previous bar, you want the opposite normally in a down trend and 3BR)
2nd trade: never take a trade after doji
3rd trade: same thing doji
4th trade: you took trade on the 3rd bar, with no confirmation
5th trade: you shorted after a HH
Any thoughts?
Awesome.
I just don't see why you took the trades that you did. I would not have taken any of them.
Let's look at your last trade. Before you took your last trade, I see the market keep trying to make a lower low, and then bouncing back but again trading within a range.
Also, the bars are very beautiful in that when its going down, you are getting pure purple and when its going up, pure white.
So you could have either tried to take a range trade earlier and stayed within the range or tried to take a break of range trade.
The range trade would have worked fine if you took it either up with the 1st white bar or down with the 1st purple bar and gotten out before the end of the previous low or high.
The only problem with trading on the break is determining if its a real breakout or a false breakout, since you can easily get whipsawed, but you can see the market break above the last high after your failed trade, indicating that it wanted to go higher.
Of course hindsight is always 20/20, but hopefully you were not using real money.
Let's look at your last trade. Before you took your last trade, I see the market keep trying to make a lower low, and then bouncing back but again trading within a range.
Also, the bars are very beautiful in that when its going down, you are getting pure purple and when its going up, pure white.
So you could have either tried to take a range trade earlier and stayed within the range or tried to take a break of range trade.
The range trade would have worked fine if you took it either up with the 1st white bar or down with the 1st purple bar and gotten out before the end of the previous low or high.
The only problem with trading on the break is determining if its a real breakout or a false breakout, since you can easily get whipsawed, but you can see the market break above the last high after your failed trade, indicating that it wanted to go higher.
Of course hindsight is always 20/20, but hopefully you were not using real money.