Price Action Journal V1.5
- Thread starter TraderKaizen
- Start date
Made 7 trades this morning.
1st: good entry stopped out. Need to be more conservative with entry price. Need to move stop to below previous low +2 ticks
2nd: great entry, need better stop protection and aggressive entries, same problem as trade #1
3rd/4th/5th/6th: bad entries, no magic tick. Also trend change confirmed after 3rd trade. Maybe I started to get frustrated at this time
7th: great entry but moved stop up too quick, missed a huge run.
Overall, much better day but have to work on stop management and be disciplined about entering on magic tick.
1st: good entry stopped out. Need to be more conservative with entry price. Need to move stop to below previous low +2 ticks
2nd: great entry, need better stop protection and aggressive entries, same problem as trade #1
3rd/4th/5th/6th: bad entries, no magic tick. Also trend change confirmed after 3rd trade. Maybe I started to get frustrated at this time
7th: great entry but moved stop up too quick, missed a huge run.
Overall, much better day but have to work on stop management and be disciplined about entering on magic tick.
Sniemiec,
1st- decided to get long position after price broke out of the W pattern(@ LOD) and above a minor support level. Entered right above the support line with my stop place underneath. I should have been more patient .
2nd & 3rd Two minor LHâs had printed and price traded below support. I wasnât paying attention and got caught up in what I wanted to doâ¦SHORT!
Had I been paying attention I would have noticed the DB at support (green rectangle), which happened right in the middle of the W pattern Green arrow indicates where I should have been buying!
J,
You raise a great point and it probably would have been prudent to pass on this one. I decided to enter because price had broken a trendline, and made a LH & a LL. Very similar to what it had done at the open. I shorted after seeing a 3bar, but got stopped out pretty quickly.
BYF
good eyes
Hello,
I hope to find here a little help in my trading, because currently, the more I study the less I succeed !
Yesterday I had for example 10 losers for 4 winners. Very bad.
I am trying to scalp the way Anek does. I think I understand his method, I have done a lot of simulation (market replay) and I was doing fine, and now I am back to paper trading after a month of real trading (little losses).
I am paper trading since 2 month now, and I think I am getting better at feeling the market / pivots...
But it is as if the more I understand it, the less profitable I am. I don't know what to think :
- as I get experience, I see more entries, and take them, but I was doing better trading less frequently. I probably should be filtering, but I don't see how
- I tried averaging up, starting with 3 contract. But I was losing on 3 contracts when my stop was hit, or even worse on 4 when I had averaged up
- I try to keep my stop small, placing them just at the previous swing. But still I find that they are not so small (typically 4 NQ points), and they are hit way too often. And I find reentry difficult.
What do you think ? have you been through the same difficulties before taking off ?
What do you suggest I should do ?
I have re-read Anek's blog, and will now start reviewing my past trades and do more replay. I am thinking also to join the AHG chat room. Anything else you would think off ?
I'm looking forward to reading your posts, thanking you in advance for your help, and hope you are doing well with this nice volatility.
As an example, I post yesterday's chart, with my notes taken as I was trading.
Fred
I hope to find here a little help in my trading, because currently, the more I study the less I succeed !
Yesterday I had for example 10 losers for 4 winners. Very bad.
I am trying to scalp the way Anek does. I think I understand his method, I have done a lot of simulation (market replay) and I was doing fine, and now I am back to paper trading after a month of real trading (little losses).
I am paper trading since 2 month now, and I think I am getting better at feeling the market / pivots...
But it is as if the more I understand it, the less profitable I am. I don't know what to think :
- as I get experience, I see more entries, and take them, but I was doing better trading less frequently. I probably should be filtering, but I don't see how
- I tried averaging up, starting with 3 contract. But I was losing on 3 contracts when my stop was hit, or even worse on 4 when I had averaged up
- I try to keep my stop small, placing them just at the previous swing. But still I find that they are not so small (typically 4 NQ points), and they are hit way too often. And I find reentry difficult.
What do you think ? have you been through the same difficulties before taking off ?
What do you suggest I should do ?
I have re-read Anek's blog, and will now start reviewing my past trades and do more replay. I am thinking also to join the AHG chat room. Anything else you would think off ?
I'm looking forward to reading your posts, thanking you in advance for your help, and hope you are doing well with this nice volatility.
As an example, I post yesterday's chart, with my notes taken as I was trading.
Fred
The chart got lost when I did the preview
now I remember having read about this.
Here it is.
now I remember having read about this.
Here it is.