Technical Trading Setups Journal

Quote from Xspurt:

Getting in from the top and expecting this action means no heat and playing with a strong hand as opposed to playing the breakout and having stop placement problems.
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You're one of those aggressive anticipatory traders. One of my friends is always positioned at a way better price than me because he trades that way. I, on the other hand, am a super conservative weenie trader :p

Unless it's a break out of narrow range consolidation, there's usually a first break that appears to fail and takes out the stops of the weak hands. I occasionally take first breaks of wide triangles and grit my teeth through the retrace, but more often I wait for the second entry.

In the chart you posted the LTL becomes R and that's the green light for the no-heat trade.
 
Quote from NoDoji:

Good example, CF, especially for newbies. I've seen traders often take a decent setup, get stopped out on what is a quick failure and fail to reverse for continuation because they're upset about the losing trade.
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Yea.

Emotions are the hard part of our business. It takes time and a lot of practice to gain confidence needed to not be upset about some losses and just keep looking for the next decent setup with an eye not turbid by tears from last losing trade.

Those failed setups are extremely good often, because they manifest "double power", new positions added and those trapped opposite positions exiting for a loss.

I noticed that is common in trading: what is the hardest emotionally is also the most profitable. And think that's not just a coincidence.
 
Quote from NoDoji:

You're one of those aggressive anticipatory traders. One of my friends is always positioned at a way better price than me because he trades that way. I, on the other hand, am a super conservative weenie trader :p

Unless it's a break out of narrow range consolidation, there's usually a first break that appears to fail and takes out the stops of the weak hands. I occasionally take first breaks of wide triangles and grit my teeth through the retrace, but more often I wait for the second entry.

In the chart you posted the LTL becomes R and that's the green light for the no-heat trade.
More...

And that is exactly the point where the 4H looks above the ema for a last gasp...
 

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Quote from NoDoji:

You're one of those aggressive anticipatory traders. One of my friends is always positioned at a way better price than me because he trades that way. I, on the other hand, am a super conservative weenie trader :p

Unless it's a break out of narrow range consolidation, there's usually a first break that appears to fail and takes out the stops of the weak hands. I occasionally take first breaks of wide triangles and grit my teeth through the retrace, but more often I wait for the second entry.

In the chart you posted the LTL becomes R and that's the green light for the no-heat trade.
More...

I'm aggressive, yes, but I only anticipate in exactly the same way as you'd look for the pull back to the base line for the set up there. There are a few occasions where anticipating the completion of the market structure allows a limit order with a 2 pip stop but that is not the norm.

Anticipation is early recognition of the probable structure but the trade is taken on the signal confirmation and the earlier that is done the lower the risk
 
technical setups most time not work so well to me. the odd is not high.

I found most rewardable are reversal patterns. "W" with the next leg a little bit low, then it quickly back to the former low and go higher. "M" with the next leg a little bit higher, often shoot a big bar, then immediately a red bar and back to former high and down. watch out the volume. that is the hint.

I trade three types of trades:

trade with big trend (EMA), also with the small trend (1'bar)
trade with big trend(EMA), but against the small trend (pick pullback)
trade against the big trend, but with the small trend(the most profitable ones, i.e, "W","M")

I hate trading against the big trend, also against the small trend.

those are the most fruitless ones, creates holes in my account.

other patterns are not so good, often create lots of scratches even small loss or whipsaws.
 
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