Plan the Trade

So I tried the YM this afternoon (thinking it would be a little slower while I'm getting used to this). The difference in PA at the start was like night and day, I was there like 'erm... I'm gonna have this sh*t today come hell or high water'. So I wimped out at the start, waited, had a load of no fills, got sucked into a range and well, Jack the Ripper showed up and the rest is history.

In my defence I don't think today was a good day to trade, and from what I've read maybe others found it challenging. But I ain't for excuses.

I'm just going to grow a pair and get quicker. The way I see it, I just need to be faster and the only way seems to grow a pair and trade the hour, and win or lose walk away till the next time. There is a reason you are killing it and I think a key one is, the longer the day goes on the more risk there is. I have even stopped messing around with the Dax in the am so I'm fresh for the afternoon (and I still got killed lol).

I have looked at ym it doesn't move range wide like nq I love the NQ there's plenty of time to drop limit orders just learn to train your eyes for setup with thrust bar

thanks for this H appreciate it

Just practicing in demo. Did I miss something with this one long? I recovered on a retest short immediately after.

We use candle sticks.. and not every trade will work out.

a little better than yesterday

you had better looking candles than mine today ras nice job

a recap of todays trading the first hour

Thank you for taking time to do this!

I know we all might have different kinda candles like today ras had setups I didn't but the principle is still the same

Those are the fastest 41 ticks I ever earned. Done in under 15 min!

Poor set up at first with no thrust and similar size legs of 123 and trigger (likely ABC), but dialed in thereafter;

It is so so difficult to hold on, but for those that follow my EW analysis, an ABC means 'corrective' thus the previous trend remains (in this instance in chart above, it means fresh lows to follow). Even having this strong opinion and a position already nicely in profit with risk removed, i still found myself too aggressive with my stoploss chase, as this is what would have happened if i had let it run;



You know, the crazy thing is, that it hardly pulled back all the way to the fresh lows, could have been a +120/130 trade quite easily.

Hey ho, but one day i hope to combine my EW workings together with pullbacks and have the balls to run positions according to my wave counts. That's a long way away yet...

Hey CG looks like you went back to 400 tick chart why?

That is simply unacceptable. I expect price to do exactly as I anticipate:

It was so that i can trade using Spreadbets. With the 1 point spread i need to have 5 point stops (20tick) and 20 point targets (80tick), thus generally set-ups on a bigger scale, but it's all just over-complicating things to be honest.

I have the 133 chart open alongside too and it's fair to say that it throws up so many more set-ups that i might just go back purely to demo until i'm ready to make the switch to contracts. Haven't had many losing days for a while...

Not many losing days is tremendous CG it's been a long time coming. There are quite a few more setups on 133 tick a bunch of plus 1s but you keep attaching till I get 40+ ticks for day