Day started out good, 2nd trade was a runner of 27 points...could go longer.
Here is execution summary:
By 8:45 PST I had traded 19 contracts already. Per my situation and setup it's over-trading. Did not want to fall into impulse trading. <b> I stopped</b>
here is my work station.
+100 on 19 trades, net $5
I stopped trading because was heading toward over-trading. i was up $225 twice and yet managed to work my way down, way down to $5 net.
My Main Window Station:
Second Monitor:
These are the rules I am following
1) I find overall trend, up or down. Stand (try to) aside if market going sideways.
2) Check for Scapler Buy/Sell signal to fire-off
3) Make sure BB Squeeze in general agreemtn with the trend: bullish/bearish
4) If TRIN (2nd monitor) is below 1.0 it's a Bullish trend and if TICK above 0. and in Positive Territory it's a Bullish sentiment
5) Futher - must see Advancers over Decliners for Bullish trend.
6) Overall - $INDU chart trend must be bullish (ie making HH, HL)
7) Long term 4-minute YM charge just be either making HH, HL - reversing for Bullish trend.
8) Keep an eye on MACD for confirmation and filter
COMPLETE OPPSITE set of rules above FOR SHORTS.
Indcator Use:
-Obviously you don't take every single Scapler Buy and Sell, you don't buy/sell every single BB Squeeze. You must confirm and filter the signals based on variables listed above. So far TRIN, TICK have proved to be good market internals data to follow. If main chart is charging Higher and yet TRIN is making newer high..while $INDU in bearish mode - it must be a fake break-out or suckers rally. If TRIN is DEEP below 0 and TICK trading majority of hte time above 0 - overall market sentiment is BULLISh.. Complete opposite for BEARish trend.
Problems:
I am still not able to fully utilize PivotPoints and Fibonachi retracements, can't read them.
Not able to read tape to pick-out trend.
This is it for now, I have attention disorder so can't write the whole thing in one sitting.
