Tradersaavy's Discipline Journal

Long YM from 1m chart 10222.
I have entered a bit early.
This is a clearly not following the rules.
I was watching time and sales and it just looked
like it was getting away from me.

I need to chill out !
 
Target is 10232.

Perhaps I am just so excited to be back trading from the time off that I am jumpy.

However, it is all about discipline so I need to FOCUS.
 
No trades yet today.

Yesterday I got out of a trade before I had a signal because the actual pattern had not worked successfully in the past and because that pattern sometimes hinted to an uptrend day.

Uptrend days are a killer for this system. However over time, even with the losses from uptrend days, the system is profitable.

Based on this last statement, I should take all signals NO MATTER WHAT.

I will focus on signals, not profits.

One thing that I do realize that I need to work on is when I get a signal but perhaps the chart pattern is the cleanest. As mentioned yesterday, I will sometimes take a 'shady' signal on YM if ES,NQ and $indu are all very clear at the same time.

But, today for example, at 13:16 there was a signal to go short.
A shady signal. ES looked ok, not great, NQ looked shady and $indu look good. The short would have worked but I did not take it because of the shadiness.

Perhaps I am looking to perfect things and this is not a perfect type of work.

Maybe the statement, "when in doubt stay out" should kick in to the plan under this situation.

Contemplating.
 
I don't know anything about your patterns or signals, but don't draw too many hard conclusions from what happens during the options expiration period. Go ahead and play today and tomorrow if you like, but don't necessarily apply whatever you think you've learned to your overall strategy.
 
Signal is there.

Again, not a real clear pattern, but the signal is there.

ES and NQ look pretty good too.

I don't usually look at ES and NQ this much for confirmation but it seems that I have been recently because of the sloppiness in the YM.



Will either hit a target or stop out.
 
Stopped out.

I feel very fucking angry at the moment.


The earlier trade that was ugly that I did not take was a winner and this one that I did take was a loser.

I will just sit on my hands though and see if another signal turns up.
 
Quote from tradersaavy:

Uptrend days are a killer for this system. However over time, even with the losses from uptrend days, the system is profitable.
More...
Hi Tradersaavy,

Just curious, why would your system not work as well for up-trending days than in down-trending days? If you were to turn your chart upside down (and mask out the price and time of the X and Y axis – so your eye won’t be allowed to convince your mind that it’s an upside down chart you’re looking at ), your bands and divergence should appear to work just as equally well in generating signals. The only difference is that all your short entries would become your long entries and vice versa. Would it not?

Kermit
 
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