heavenskrow...it seems you have good entries...search Andersen Bands here in ET...they could benefit you and they seem they "fit" the way you trade. Not for me though.
ES
ES
Why trading is sometimes difficult for me
- Thread starter heavenskrow
- Start date
Relax man; your entries are phenomenal!So frustrating.... here is a few examples from today.
Bought at yellow arrow, if you look at the tape from before yellow, every tick up was getting rejected..... so of course I wasn't so sure on my entry although I believed I had a high probability, then initially it did go up a lot but got rejected and similar to the past few minutes, the sellers stayed in control at my entry so I got wishy washy, and 2 bars after entry, you can see it breaks support level that I had set for myself..... but then it closed above the area....and 2 bars after that again, finally starts showing strength and blasts off..... I could of been 2 contracts deep but sold 1 for very tight loss, and the other i couldnt hold long at all because the psychology of the past price action led me to believe the smarter money was still selling....
Then at 935 PT, I sold due to my edge..... and some confirmation with price action..... well sure enough we chop forever, and the psychology of holding on to a position is making me wishy washy again on the position. My entry wasnt top tick, so as it goes against me I'm debating if I am even right at all..... Then it starts going down and I'm feeling good about this position as I believe market will go a lot lower from here....However market holds support levels in which it bounced off around 11PT. (I know there is a possibility the market can bounce from here, but my belief is that this should go lower) but then sure enough.......market went all the way back to my goddamn entry I held from 935..... so now my 10 pt winner went all the way back to entry for 0 profit. And as it goes about chopping at resistance(LH), it finally sells off at the close.....
What am I doing wrong? I have relatively decent entry spots. Just the psychology of holding onto a position, trade management(when market comes back all the way to your entry even though you believe it should go further), and dealing with chop is frustrating.
How exactly should I be attacking a trade when I never know if I am "right".
Do I just need to realize that I need to play my own hand and stick to it?
Do I need to realize that there are traders with a lot more capital(millions-trillions) who don't know what the market is doing and hence being the ones causing these chop situations?
Do i need to realize that the market is simply a battle of bulls and bears with both good reasons for placing a trade, and to just be patient until the "idiot sheep" finally realizes where market should go
or Do I simply need to be committed to a certain direction/play/side of the market and attack when "the sheep" are selling when I want to be buying?
In fact they are very early...
So give the 15 and 60 min. traders some time to join you!
Seriously: switch to these TF's after entry and see how the price action unfolds for them.
Track how much price moves against you on average and set your stoploss.
With these R/R ratio's you're sitting on a pot of gold!
It’s not hard. It’s just a another tool serving a different purpose. There isn’t any good literature about trading order flow & footprint available but pieces of information could be gathered & pierced together. However if you want to use it well, you will have to spend time to practice the DOM & this is the killer for those lazy bees.
I recommend to search for DOM drills & practice it till it's easy for you to trade w/o using any chart. Have some software (I use OBS) to record everything you do & replay the practice & market action. Then (hopefully) you will see how footprints pierced everything together. I'm pretty sure it will answer the question you've at that instant instead scratching your head later.
Last edited:
I sold NQ today at the red arrow... as you can see market closed there on the 5min bar, then on the next 5 min bar, it opens at same level but then makes a large wick above the open/close level very briefly before closing lower.
Then you can see on the next white line arrow, near the same level I sold, we make another wick higher before closing lower again.
Then later around 9am PT, we can see market making a HL and I buy at the bottom as well noted by the yellow arrow. However market chops/balances for almost a hour before deciding to rally higher.
So the science behind the trading I understand to see where big money usually comes in. My only problem is the stop hunting/poker playing/and starting to get wishywashy when the market takes it's time deciding what to do, whereas for the most part I feel like I already know where the market is gonna go next, I dont understand why it must take 1 hour+ to finally move. I dont understand the fact that it knows for example 7182 is the level, but yet makes large wicks past the level to hunt out stops.
My question is how do you other traders manage the "art" behind trading?
You are looking for absolutes in a discipline with none. Also be aware of context, 9 am pt is 12 pm est. All this on a summer Wednesday with no particular catalyst and you would expect the market to lumber around for an hour. There are dozens of contexts to be aware of, earnings, holiday's, major economic releases, fed action, time of day, day of week etc. It takes trading through an entire cycle to develop and acute awareness of context. We are presently going into a holiday week, I expect volume and volatility to diminish through next week and perhaps become range bound.
It's said that the second mouse gets the cheese. I often define my entries, position size and risk on if I am the first mouse or second mouse acting on an inflection point and going for the cheese.
Lot's of solid advice on this thread. Good trading dude!
i know no one can buy the bottom and sell the top...and yet all the vendors say they will show you how to put tight stops
you are doing everything right.....you are far more intelligent than the crowd...that is why you have to wait,,,,because eevry trader is buying the dips they do not know what you know,YOU do not know what you know
after the impulse move comes chop and then again impulse......recognise impulse watch the chop and judge the next impulse.is the market getting stronger or weaker
i wonder how and what experienced traders write pages and pages about market action-Brooks has written 4 books some charge 500 usd James charges 50000 usd to teach what? that the market impulse moves and chops!
it just distracts everyone from the market cycle