Plan the Trade

Really moving today

Friday's high is proving useful today.

Misses fill by 1

123 break or demand at 99

Pa is slowing down will stop

Unfortunately, there is no video about how to set up graphics and indicators ...

1 nice trade big action today not a lot of pullbacks

I will do a video now on setting up MP

2b/123 break

what great action today

heres video on setting up the tpo chart

nikson did video help you setup chart if not tell me where your having trouble

I think market is open tomorrow it being veterans day it might be slow trade carefully

Awesome volume today. Don't recall a lunch hour with such huge moves for a long time!

thanks, Harold

I was thinking about those 133's this morning. It must of looked like a machine gun at times coming fast and furious!

Yes, it was simply far too fast. I was +15 literally within seconds of open, then gave it back (up and down) over the next twenty minutes as my discipline disappeared!

I tried again at lunch and it was even worse!

I realised that instead of sticking to the script, i started reacting literally to the candles, thinking i could generally guess the next move. This came about after a combination of a taking a couple of good trades, followed by a couple of restraints, but which immediately went on to what would have been winners.

Seeing a 20+ winner happen (without you) immediately after you've just stopped yourself from taking the position, purely because it doesn't conform to your plan, is deadly, eg a 123, trigger and run, with no pullback - the candles which lead to trigger are full bodied and strong etc.

So you take the next one and it immediately retraces to nick your stop, which is now roughly where your lower risk entry would have been - then you question should you move your stoploss further away etc etc. Do this for twenty minutes on 133 tick scale when it's moving like it was yesterday and it becomes madness... gambling, in fact.

I decided rather than change to 512 tick, to simply stop and fight again another day. I was minus 12 and had already reached mental fatigue by then anyway.

A little deflated, after i have been gaining some real confidence lately, but at least i recognised what was going on and reacted fairly quickly, to stop the rot.

This is exactly why no method can work all of the time. The market can spin you around and around whenever it wants to. Recognising a good time to be taking trades vs times that are more likely suicidal, is part and parcel of the discretion req'd to be successful (imo!)

I start again today with renewed vigour and all important discipline back in place. I think i was getting a little over-confident too.

123 trigger, retrace, back into trend (off of prior S/D zone), or reverse trend if PA became stretched and there is a likely prior S/D zone that should be retested, (trade within a trade). That's it. That's the plan.

My little set up (computer) with a few currency charts open from before the nyse was lagging with nq volume poring in . . . DOM was on speed but the candle chart was behind until volume slowed some . . . It was fast.

Very good volume this morning. Cg the reason I use 512 is to slow it down the patterns are still there less trades but good ones around the levels

1.25 pullback for 13