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Price Action Journal V1.5
- Thread starter TraderKaizen
- Start date
Quote from jfw215:
Here are my trades today
6 sim, and 1 live. sim +110, live +12
Attached is the sim chart
#1: Bad, shorted too low. Chased a little, I thought it was gonna keep going down. However, it was with the trend.
#2: Bad, good entry with the trend, but got out BE+1 and didn't give it room
#3: Good, re-entered and held on.
#4: Bad, conflict in trend, also exited for BE+1
#5: Bad, need to wait for better pull back before entering, ended up stopping out
#6: Bad, great re-entry, need to learn to hold on better
Overall, good week of learning. This is my first week after quitting my job. I feel I can do a good job, but have to work on not jumping the gun too quick, not moving to BE+1. I'll do better next week.
How about these plays? Any thoughts?
Attachments
Quote from veggen:
how about this triangle break out - failure? Anek has mentioned how this can lead to powerfull moves. Any thoughts or comments about that possible play?
Simply treat anything you "see" as an entry. Hold on that position and LOOK for an entry in the opposite direction and take it. As you understand, a good entry in the opposite direction is a great way to end the position you are already holding.
It will also help you alleviate the fears, anxiety and other stuff you feel while not on the sidelines. Holding a position on the right side of the market is just as safe as sitting on the sidelines.
Maybe you saw the chart with the 16a on it (25SEP). That diagonal line could have been drawn when it was an inch long. It could, right at that moment, been extended for 5 more inches. Price stayed on the right side of that trend for hours.
You can put in a stop on the other side of the line and keep raising it (trail it) right up to the top of the chart. Every x minutes raise the stop y dollars. Sooner or later you take the profit.
Quote from jack hershey:
Simply treat anything you "see" as an entry. Hold on that position and LOOK for an entry in the opposite direction and take it. As you understand, a good entry in the opposite direction is a great way to end the position you are already holding.
It will also help you alleviate the fears, anxiety and other stuff you feel while not on the sidelines. Holding a position on the right side of the market is just as safe as sitting on the sidelines.
Maybe you saw the chart with the 16a on it (25SEP). That diagonal line could have been drawn when it was an inch long. It could, right at that moment, been extended for 5 more inches. Price stayed on the right side of that trend for hours.
You can put in a stop on the other side of the line and keep raising it (trail it) right up to the top of the chart. Every x minutes raise the stop y dollars. Sooner or later you take the profit.
I am not shure I compleatly understand what you mean. Do you mean allways having a position in the market, instead of being on the sidelines?
Sorry, but my english is not that good, so I did not understand what you ment in your post. Maybe you could post an example to illustrate? I have not seen the chart you are refering to. Maybe you could post a link?
thanks
veggen
Quote from veggen:
how about this triangle break out - failure? Anek has mentioned how this can lead to powerfull moves. Any thoughts or comments about that possible play?
Even if you hadn't seen the triangle, just look for the breakout from consolidation, then enter on a pullback in that direction. Here there was an LL, at which point you should look to enter on the LH.