T/A Trading Journal

R, mine is NQ volume chart. Again, don't over complicate things with too many lines. I draw my trend lines from either lowest point, or highest point in view, and that's it.

The key is to watch the PA, when it gets near those areas. It will tell you everything you need to know.

Schaefer
 
Quote from ammo:

3 trendlines converge at 77
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True ammo .. BUT current direction is up.. 1790 possible.. CSCO reports tomorrow.. who knows.. we don't need to know anyway..
 
Quote from Schaefer:

R, mine is NQ volume chart. Again, don't over complicate things with too many lines. I draw my trend lines from either lowest point, or highest point in view, and that's it.

The key is to watch the PA, when it gets near those areas. It will tell you everything you need to know.

Schaefer
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Trying to learn here... what were the factors that would have comforted you in a long position when we were under 1751 other than your trendline? no rush.. whenever you can..
 
Quote from Rashid_G.:

True ammo .. BUT current direction is up.. 1790 possible.. CSCO reports tomorrow.. who knows.. we don't need to know anyway..
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you can see the tl , you can think a lot of things, which one works over time,converging tl's are strong s/r
 
Quote from Rashid_G.:

Trying to learn here... what were the factors that would have comforted you in a long position when we were under 1751 other than your trendline? no rush.. whenever you can..
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R, I would not have gotten in long under 1751, as I'm not a good top, bottom picker :p

My PA chart didn't give me a signal to go long until 1754.25. For me, the breach of yesterday's high during pre-market hours was a warning shot across the bow.

The problem you're having with moving your stops.....you're either focusing the PA on the faster time frame chart, or your anchor chart is not slow enough.

I used to do what you did; kept moving the stop, saying "it's still valid until it breaks the swing low/high etc". The losses were huge, and kept giving back the profits.

Instead, focus on your anchor chart with enough speed to suit your personality, and account size. One, or two bars on your anchor chart is enough to tell you, whether you were right, or wrong.

Again, keep it simple. Don't over analyze every small swing. Experiment with the speed of your anchor chart, and listen.

Schaefer
 
Schaefer,

Time frames.. you are right.. I watch the hourly but it can't be traded with a 2pt stop. Currently using a 1600tick which I am comfortable with.

One of the core reasons for this seemingly simplistic (and silly to some) hard 2 to 3pt stop is I know for my system entry it is actually not unreasonable. I am also still early in the learning phase in futures so the dangers are real and must be capped.. somewhere. The small stop will hopefully keep me in the game long enough to learn to relax and wait for ideal trades.

Additionally, in a perfect world one should never take a trade further away from the last swing than the stop but this distance is frequently larger than 2.. for yours it would have been 6.5 points back to 48.

Wine for breakfast from now on to relax me... :)
 
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