Simple Overbought/Oversold journal

[polestar]

It seems as if overall you are net losing?

Not that losing is bad, but it should prompt a change.

[.02]

 

[momoNY]

Quote from polestar:

It seems as if overall you are net losing?

Not that losing is bad, but it should prompt a change.

[.02]

You're kind but losing is really bad ;-). But it is a necessary ache or hit.
I feel like doing charity for Interactive Brokers ;-) . Last year I made roughly 5500$ in trading but my commissions were close to 6000$ for a net loss of close to 500$. I can afford that, but for how long? I don't know, my patience is about to reach an unprecedented limit.

My trades log tells me that I don't give chance to my trades to work out. I'm at a risk reward of no more that 1/2 which is very poor. I'm thinking of taking this week off, then come up with a sound plan and trade it. Trading without a plan is really a loser's game.

 

[momoNY]

bought at 1262.5 and put stop at 1261.25.
The reasons were, oversold on 15min,
CCI divergence near keltner channels on 5 min. No clear support however.
Stop triggered.
I might go back to the trade.

 

[momoNY]

Went back at 1261.5 and put a stop at 1260. Sold at 1263. I don't like today's action, there is a huge lack of conviction. We might get a pop up now, but you've got to have very solid nerves.

Remember small losses are always easy to manage.

Total: 4 pts loss
Number trades: 20
Largest Win: 2 pts
Largest Loss: 3 pts

EDIT: The reason I went back: oversold and CCI divergence forming right at support area. I should have once more hold on to it. I hold on my losers and let my winners pass by :-( .

My trades today.

 

[momoNY]

Shorted at 1268, 2 points stop and 4 points target. loss of 2 points. Should have waited to see a reversal. YM is breaking yesterday's high.

EDIT: completely killed today. Went back short at 1269.5 after the hammer. Stop at 1271.25. 1.75 loss to be added.
I have to call it quit today.

EDIT2: Add 1.5 loss, shorted at 1271.75 stop at 1273.25, this is what happens when you go against the trend.

Total loss for today: 5.25pts

Total: 9.25 pts loss
Number trades: 20
Largest Win: 2 pts
Largest Loss: 3 pts

This prompts more than a change.

 

[momoNY]

Today is a really really bad day for me.
I have 6 points loss. Kept fighting the trend all the way up.
I did not experience this losing streak for a while. So far this journal is not helping me at all, at least on my P/L. I'll give it a break for some time.


Total: 10 pts loss
Number trades: 25
Largest Win: 2 pts
Largest Loss: 3 pts

 

[Wallace]

Would have liked to have seen some charts.

 

[momoNY]

Went long at 1264.25 but closed the trade for 1 point gain. Once again did not let my trade workout. That's it for the day and probably for the week.
I'll have to write down a plan and start to post charts at the end of the day. No real time cause I lose focus.

Total: 9 pts loss
Number trades: 26
Largest Win: 2 pts
Largest Loss: 3 pts

 

[Wallace]

Understand you feel you're under time constraints when entering a trade, however I wonder if posting a chart with your trade entries may bring some light to your decision making process.
Likewise when you exit a trade.

As long as you capture charts you can post then later.

if needed: http://www.mirekw.com/winfreeware/mwsnap.html

 

[momoNY]

Today, I was not supposed to trade but I put two small trades. Both short after 2pm. There was overbought and divergence on the CCI, together with plenty of resistance at around 1280.5. I closed the positions very quickly because of the apparent strength.


Total: 7.75 pts loss
Number trades: 28
Largest Win: 2 pts
Largest Loss: 3 pts

Today trades: