Plan the Trade

Div, what's your money management? 12 Stop, +1 at +6 ?

For myself, I think I'm going to stop micromanaging trades because it keeps me out of big winners. Unless I'm up a lot, then I'll move to +10 I think.

yes ygr i am not interested in big winners but thats just me i look to get 40 ticks a day

What a horrendous day!

I started about 40mins after open. I've been taken out of literally every (what would have been decent) winner, on either a second or even third retest and had to watch it sail off without me and other than that, i've basically gone around in circles - lost a bit and made a bit...

When the volume turns lighter as it's done the last couple of days, it doesn't suit my trading psyche at all. I've gotten used to the 'one touch and go' PA over the past couple of months. It seems as if grabbing is the answer right now.

It's late morning US time and it feels exactly like when i used to trade the lunch hour. I'm currently negative by 5 comms

Any chance we could see your trades today H, I thought it was very difficult to trade the first hour so would be interested to see what you saw. Thanks, Simon

I could again just trade an hour or so and agree .. the market rhythm was difficult ... missed two neat 20's by getting out too quickly ... not accepting the risk ... that is one of my issues ... managed to end at -4 when I had to leave.

It is all in the rhythm ... it is so beautiful to see Mr D's trades ... the rhythm is second nature to him ... amazing.

sorry out all day remodeling house

Thanks H. I guess that is an example of patience, not something I had yesterday. Hope the house remodel is going to plan, built my own house a few years ago and found it to be the best and worst of jobs, often at the same time ;-)

+10 followed by -12

+10 and 2 +1's so far. Better PA than yesterday so far.

another +1 then goes without me

another +1 sell from 80, was up 12 should've grabbed more. 5 +1's in a row now. Time to stop probably.

lot of +1s myself was able to get up 19 grabbed 14

Ended with +44 (but with 2contracts, so really +22). One loss of 14, then a few small grabs.

thats enough for me another +1

nice going jason more than me

For me, it's all about conditioning yourself to take a position after a reasonable pullback. So go long after several long red candles or short after several long green candles, when they are a pullback within trend. It really is about drawing the bow back or stretching a piece of elastic. Any action which halts the pullback takes the tension out of the move and this is then what creates a 123 counter-trend, but when the pullback is almost in a straight line, to prior level, they generally work well.

It's always a feeling as if you've missed the boat, but actually, it is then that retest of the level that gives the trade. If it doesn't pull back far enough, you wait for the next set-up.

I took a trade off of the 450 earlier which resulted in a -10, then there was a -2 and a +1 before this;





I got sidetracked and left a long order to catch (what i perceived as wave 'e') at the top, but didn't notice that i missed fill by a couple of ticks. It made the third high in a row and i would have no longer wanted that trade. It was straight to -10. I very much hope that i never do that when live!

There should have been a long @ approx 94, but it would prob have only been a +1 anyway, caught the pullback instead;



Currently +10, but feeling kinda hard done by, cos the earlier 450 trade went into a profit and i over-rode my stoploss to +1 and then the last silly mistake too costing another -10... hey ho!

Quiet over here . . .
They say DOW jumped 300points . . . .

Good start to the week

10 more and done: