Plan the Trade

2b break

sell xtreme if pb

Will take pullback or buy poc

did u cancel cuz it didn't make one smooth sweep up there

Cancel everything

heheh

FOM where the ticks at?

Don't beat yourself up about a loss.. It's going to happen.. Last Friday I had 3 losses in the row and still came out positive.. Stick to your trading plan and keep trading..

well all I got today was 10 stinking ticks might break rukes and look after 11 oclock when inv comes out and if market begins to move I might engage but for now nothing happening

I was done early today at 9:40 am.. I only had two trades for the day..

Lol that chart is kinda crazy. Do u enter w market orders or do u actually see areas to set a limit?

Last pullback spot is right on poc

On my chart?

What's so crazy about my chart? ..Yes all my trades are limit trades thanks to Harold he inspired me to convert to limit trades and trading the NASDAQ..

No it was setting up for pullback but never happened

FWIW, FOM's style is pretty similar to my own, apart from the times we trade. I use extremes and gap close (which i consider the strongest profile lines), but other than that, it's simply 123, trigger and deep retrace to pin bar. I then place my stoploss above/below the last peak/trough, thus R:R remains nicely skewed usually around 2:1, but sometimes more.

I'm finally getting the discipline to wait until such PA (and am finding generally trading the last half hour of morning session and then through lunch hour into the afternoon session beginning, usually throws up the deep pullbacks that i need).

I still have a little way to go in my mind and i have not been on the case throughout Summer, due to personal circumstances, but i am getting back into things now.

The trend either continues and you take a win, or it doesn't and you take a (smaller) loss... losses are absolutely part and parcel of trading, no matter what you do and for far too long i have concentrated on trying to minimise them.... trade each deep pullback.

These would be my entries, if i had been trading at such time;



I have changed my SL auto to +1 when at +10 and i think the first trade would have given a nice total, but the second had another deep retrace prob causing a +1, (i'm not sure if i would have started chasing the PA with my SL at that stage, if so, it could have been a +6)... I found that with auto +6 or even +8, i was catching many +1's. It is generally a bit calmer at the times i am trading though.

It requires more patience and without profiling, you don't have the next value line etc for a target, but grabbing and chasing each candle as it starts to go in your favour seems to work more often than not.

For me the +1s are part of trading it either takes off or it doesnt. Sometimes it stops me at +1 and then goes sometimes it saves me from loss

Yeh, for sure... it's one of those damned if you do, damned if you don't things, but trading later, i notice that a lot of the time, there is choppy action until the RSI/MACD builds strength, then the PA takes off. Often the +1 is exactly where yet another pullback entry would be, so i'm trying to stay in the game a little longer if poss!

Besides, the other approach would be.... if trend is going to continue, then min target is a fresh peak/trough in the sequence, thus by entering the deep pullback, the R:R even on a 50% success rate will do and often by the time the fresh peak/trough comes, the momentum is with PA and it can run nicely....

Well, of course, the market mixes things up, so you can go around and around in circles forever trying to improve things! As you say, sometimes it works, sometimes it doesn't!)

All these things are true CG when I started trading a long time ago my first rule was an is remove risk as soon as possible without wrecking trade can't deviate from rule 1 ever

It just looks choppy. I could trade the cableguy's chart he posted but I don't really see entry zones on yours

Choppy? It's very clear to me so that's what counts lol.. How long have you been trading?