Plan the Trade

73(71.50)

aaaaah..thanks

Sept

Close, 6175 . . .

Another bad habit that i have, is posting charts and updates on here instead of damn well concentrating on trading!

Here's the 'grab first, run second' retest example;

Will sell 7550 or buy 6625

Cancel buy

Attachment g

Whacked 2 +25 s 2 -15s net +20 am tempted to continue but I had enough

Still making mistakes, after the 'Tap No Fill', i pre-empted a return to Long and got stopped out promptly for -12

The next two trades saved the day. The whole look of the double bottom on bigger scale looks like A&B to me (you've heard me write similar earlier in the week as a double top), thus wave C will extend beyond wave A end (target new highs)... even with that in mind, it's still too hard to just hold, cos you don't want to risk a +20 odd come back to zero!

Reaction at 82:00 area was predictable, but i suspected only a reaction for a 4th wave before higher, thus taking the small retest (double bottom) seemed a likely trade.

Need to simply trade and leave the posting of charts until afterwards to be honest.

Climbing back toward the session high . ..
160 or so ticks in the 1hr range from nyse open. Still plenty of opportunity is a range like that.

Re-reading and re-thinking about the above. I'm still ignoring my own advice. Just wait for the (obvious) big peaks/troughs (wicks/tails) and ignore everything else. Yes there are reactions off of prior pins inbetween, but they are hit and miss a lot of the time.

The other thing to concentrate on is letting positions run for longer. Even with my EW view suggesting likely targets of fresh highs, i find it difficult to let it run.

Harold took 25 to my 18 from the same long earlier. I chased whereas he would have let it hit auto-limit. Something else for me to work on.

One more and that makes me feel a lot better. More in control today. Have lost my way recently, but this feels much more like it;



I think over-confidence had crept in a month ago and that led to over-trading. Sitting and waiting is the way to go.

NQ -17 and at least $40 in fees. Tomorrow another day...

I love the way that this same pattern plays out over and over. My earlier chart showed the same 3 chances (or bites of the cherry)

1) simple retest prior obvious S/D (Wick/Tail)
2) After reaction and 2B, pullback trade
3) 123, trigger (trigger is visibly bigger than the 123 itself), pullback;

Trigger happy again;

Yes yes ... I was a machine gunner again today ... but I am trying to get a handle on the supply and demand levels thing, since it is so critical.
I made the 30s chart 30 minutes and drew in all the major levels, then the same with the 15 minutes and 5 minutes and then back to the 30s chart.
A lot of levels but, man, they sure do get respected a lot. At first it was a bit difficult but later I started get the hang of it and ended at +41 ... a lot of trades but it is the first time I really got the "feel" of the supply and demand levels ... tomorrow I want to trade less and only with the best levels as a guide .... lets see what happens.

Thanks again for all your input and patience, Mr D ... you really are special ... I have not seen this level of expertize and willingness to help in a looooong time ... I salute you !!!

little sluggish but scored anyway