7.21.20
Downish day. Found a point where it might reverse. We'll see.
Trade 1: BOT 6 MNQ @10866.25
Downish day. Found a point where it might reverse. We'll see.
Trade 1: BOT 6 MNQ @10866.25
QQ Daytrading Journal for Accountability and Consistency
- Thread starter FibonacciNinja
- Start date
CLS 3@10841, 3@10841.25
Was looking pretty ugly.
Was looking pretty ugly.
I think you were onto the reversal but just got shaken out. Granted, it was only about a 2 hour or so trade. Not sure what your typical holding period is.
You said it. I was supposed to hold it longer but I got frustrated and thus shaken out. Didn't honor my stop (which was close but still had room) and was punished.
Thanks for commenting! Me making silly mistakes like these are what will cement me from not making them again.
7.22.20
Posting a little late but figured I'd wait until I took something
Trade 1: BOT 6MNQ @10827.75
CLS 2 @10851.75
Lightening the load as we go up. Let's hope the last pieces hit today's highs at least.
And as I type this,
CLS 2 @10855
Action getting weak. Holding last section until boom or bust.
Posting a little late but figured I'd wait until I took something
Trade 1: BOT 6MNQ @10827.75
CLS 2 @10851.75
Lightening the load as we go up. Let's hope the last pieces hit today's highs at least.
And as I type this,
CLS 2 @10855
Action getting weak. Holding last section until boom or bust.
What is your approach for entry / exit?
CLS Last 2 at 10842.75 and 10842.5
Lost steam and drifting down.
Lost steam and drifting down.
I base entry and exit on price action/location. Exit has a hard stop on loss (which wasn't honored that time). I close pieces as the move develops.
Hope you don't mind me asking these questions, how do you define positive / negative price action?
Questions are no problem at all.
I look at candlesticks. When price enters a good area to open a position, I will when the action is strong. Solid bars, etc.
Negative price action would then be a mirror of that: solid bars against me. With the added caveat of also weakness (wicks and such) being places to start closing. So I'm opening on strength and closing on weakness/opposite strength.