The price action facebook journal

[amitman]

Could have been a much better day...

Trade 1 - Good trade (exit a bit too early)

Trade 2 - Entred too early because I missed 2 trades, then added at my stop by accident (sold instead of buy), didn't exit immdieatly because I saw we're approaching the SL, and a short entry might be coming.
The short entry did come, but then instead of exit in the right target (.43)
I made ant exit on .51, leaving 40$ om the table.
When you start something in the wrong way, it hard to come back to a diciplined mindset...

2 trades, 2 winners +57$

 

[Redneck]

AM

Not going to hindsight trade 4 – rather tell you what I see

In a nut shell you entered long as price was pulling back in the form of a range

And though the PB ultimately held – it did so with less momentum and subsequently formed the range in grey on the 5 min (over the lunch hour)

============

More detail

Move took off up – Pink up TL

Gained momentum – Green up TL

Petered out and formed a top – 10:09 / 10:10 / 10:11 bars – and retested on the 10:16 bar / 10:17 bars (referencing the 1 min chart)

Note;

Notice the above coincides with 3 discrete 5 min bars - which also spans 2 – 15 min bars (close of 10:15 bar / 10:30 bar) (also note the 10:45 bar was inside the 10;30 bar - tighter range building for eventual B/O - which it did B/O but the momentum is less than stellar and turned in another range over lunch))

aside;

I believe it important to pay attention to open/ closes of 5 min & 15 min bars

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If I had entered long, I would have exited at the break of the cyan (light blue) line on the 1 min (price stopped going up)

Price breaching the green TL means the aforementioned momentum is waning

eta - I think I show the entry on the wrong 5 min bar (5 min chart) - should be the next bar to the right - sorry

RN

 

[amitman]

Must thank RN for this day...
Was able to exit 2 trades when I saw they're not working so was able to end up positive with only 1 winning trade. just kept saying to myself, "regrets I can live with, big losers, I can't..."

Trade 1 - Long entry for potential BO. after 3 bars of hitting the resistence. exit at BE, original stop got hit later...

Trade 2 - Marginal short entry, though we're going got a reversal after this triple top. Exit when got a long signal, and I think I should have reversed instead of just exit (almost did...), but still, kept this loss small which was good.
Lesson learned: when you're short and getting a long entry signal, reverse, don't just exit

Trade 3 - Good trade exactly according to plan. Altough price did ran through my target for 25 more cents.

Overall 3 trades, 1 winner 2 losers +15$/5cps

Overall positive week, but not a very good one... +65$/21cps,
staying with same number of shares for next week.

 

[Redneck]

Now let me see if I can grasp this

33 1/3 % win rate…, yet ended the day profitable

2 X more losers…, yet ended the day profitable

100% more losers than winners…, yet ended the day profitable

There just may be a lesson in there for anyone learning / struggling



Yep… may just be a lesson

==================

Alright AM,

You have a method & way to manage losers

Next week – trade your plan (win, lose, draw)

You forged some really good metal today

Get Some Rest & Happy Weekend Sir

RN


=========================

btw; Few important lessons in AM's entire post

Quote from amitman:

kept saying to myself, "regrets I can live with, big losers, I can't..."

Trade 1 - exit at BE

Trade 2 - Exit when got a long signal

I should have reversed instead of just exit, but still, kept this loss small which was good.

Lesson learned: when you're short and getting a long entry signal, reverse, don't just exit

Trade 3 - exactly according to plan. / price did ran through my target for 25 more cents.

Overall 3 trades, 1 winner 2 losers +15$/5cps

 

[amitman]

Good day, could have been better

Trade 1 - Classic, target was supposed to be 3 cents higher but was afraid of resistence at .15

Trade 2 - Missed the first entry becuase I though the bear before enrty bar was too strong, got a good second entry, but exit way too early after seeing the price stuck at .20. Target was .23 and was easily reached 2 minutes later.

Missed a good trade 10 minutes later due too lost of internet

Overall, 2 trades, 2 winners, +50$/17cps

Can't upload the blotter for some reason (says "not a valid img file", this is a JPG file, MODS please help...)

 

[Redneck]

Good day, could have been better

Trade 1 - was afraid

Trade 2 - Missed entry becuase I thought...., exit way too early a

Missed a good trade

trade your plan (win, lose, draw)

RN

Nuff said


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This needs fixed permanently; what if you were in a trade and it was going against you

Missed a good trade due too lost of internet

RN

 

[amitman]

Very sick,

Tried to trade but missed two entries so decided to stop.
Hope to get back to it tommorow.

 

[amitman]

Still sick, bad day.
Almost fnished it at BE but then decided to take another trade, bad choice...

Trade 1 - Short on PB, not sure about it but mde it anyway
Trade 2 - Revrsed on a long entry signal (a bit too late because of hesitation), good exit.
Trade 3 - Entry on at 2 min pullback, exit accrding to plan.
Trade 4 - Marginal trade (same as trade 2) should have definetly revrsed it when I got a very clear long entry, instead I've just exit...
Trade 5 - Classic setup, very bd entry, god scared of price returning from the resistence...
Trade 6 - Bad trade, DL broken and also was a classic short entry 2 minutes after my entry so the least I should have done is reverse. Didn't do it...

Overall 6 trades 3 winners, 3 losers. -43$/14cps .
I glad I was able to reverse my first trade, unhappy with the resst of performance. Guess I just shouldn't trade when sick...

Overall for this week, 2 trading days. +7$ staying with same number of shares...

 

[amitman]

Accidently posted the blotter before the last trade,
don't have time to fix it. Real P/L is -43$

 

[Redneck]

AM

Don't know if you're still sick... or what... but if you've a position on, get flat

Earnings this evening after the close

just sayin

RN