Hi everyone,
I have been following the markets for more than 5 years now. I tried every F thing, but it did not work. The last two years I have been basically treading water. Right now the only thing that seems to put me deep in the red is holding e-minis over night. Every time I do that I got burned big time.
I want to start this journal, to force myself to close all positions at 4:15pm the late! and to get some inputs.
I'll post trades I take using a simple method that tries to take advantage of overbought and oversold situations.
My method is the simplest possible and it is based on price action only.
I trade ES and look at 2 min, 5 min and 15 min charts.
When there is an overbought condition on the 15mn, I wait to see the turn confirmed on the 5 mins as well as on the 2 mins. If that happens then I short and look for 2 to 3 pts. I risk always no more than 3 points. For Oversold condition it is just the opposite.
I put a lot of discretion in here, sometimes I don't take a trade because I don't feel it or another system is pointing to the opposite direction.
PS: I'm not too "bavard" speechy and I'm very busy at many other things, so please don't take it wrong if you don't see any comment about a (your) post for a while. Thanks and enjoy.
I have been following the markets for more than 5 years now. I tried every F thing, but it did not work. The last two years I have been basically treading water. Right now the only thing that seems to put me deep in the red is holding e-minis over night. Every time I do that I got burned big time.
I want to start this journal, to force myself to close all positions at 4:15pm the late! and to get some inputs.
I'll post trades I take using a simple method that tries to take advantage of overbought and oversold situations.
My method is the simplest possible and it is based on price action only.
I trade ES and look at 2 min, 5 min and 15 min charts.
When there is an overbought condition on the 15mn, I wait to see the turn confirmed on the 5 mins as well as on the 2 mins. If that happens then I short and look for 2 to 3 pts. I risk always no more than 3 points. For Oversold condition it is just the opposite.
I put a lot of discretion in here, sometimes I don't take a trade because I don't feel it or another system is pointing to the opposite direction.
PS: I'm not too "bavard" speechy and I'm very busy at many other things, so please don't take it wrong if you don't see any comment about a (your) post for a while. Thanks and enjoy.
