S/R Emini Journal

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I am stopped out at -1.25 I started to do a market order and get out earlier but decided to stay with it since it was a small position. Oh well...I can play again tomorrow.
 
Quote from romik:

I am still long, COME ON!!!
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I would have been stopped out if I went for 2 also, so I am glad I got out while I could. But if you look at that flag pattern it is still valid. We just need some volume to take it up.
 
closed @ entry, waiting for resolution of this current pennant, also do not like the look on hourly, plus a lower peak on RSI (15).
 
Quote from romik:

closed @ entry, waiting for resolution of this current pennant, also do not like the look on hourly, plus a lower peak on RSI (15).
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I was wondering when you would give up on this one. No action this afternoon unfortunately.
 
Quote from 4re:

I was wondering when you would give up on this one. No action this afternoon unfortunately.
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Yes, I am not taking any more trades today, too close to the bell now, not for some of us of course. I was lucky to exit there :) Did you see the lower peak in RSI (15). OK, perhaps it's not bullet proof on short TFs, but in combination with lower highs, lack of momentum on second up wave 15:00 bar (15), no bounce of the trend line and of course uncertainty of yet another pennant. CCI was diverging as well for a while.

Basically I would not have done this on my primary call, I would have just let it roll to the stop and double up on another level break, as you know.

Anyway, nice day for all I assume. I must admit I have read your writings on pennants and flags and that's added to my knowledge quite a bit.

One thing about daytrading , your ass starts to itch after a while or is it just me?
 
Quote from romik:



One thing about daytrading , your ass starts to itch after a while or is it just me?
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Yeah, my ass was getting tired of watching the charts do nothing. I actually dozed off for a little bit.
 
Quote from belavia:

Romik, how do you spot CCI divergances? I currently look for CCI crossovers, seems to be ahead of the stochastic.
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Price goes one way, oscillator goes the opposite. A combination of various signals is a lot more powerful than just one divergence or similar on short TFs. After one gains experience he/she will start seeing these signals in conjunction with each other and drawing conclusions on current market conditions. I escaped a stop by seconds I think.
 

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Quote from ndjeff7:

romik,

So when you see a situation such as today develop, do you alter just your exit target or do you also alter your position size to take advantage of the situation?
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When the odds are in my favour, I might extend stop and will go in max position size, no doubling up, just increasing the risk by making a wider stop.
 

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