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Plan the Trade

  • #11,641
  • Mar 29, 2019 10:10am Mar 29, 2019 10:10am
T1: short on a 123 with small thrust bar (is it the same entry as your first at 97.50 by any chance Divergence?) yes
  • #11,642
  • Mar 29, 2019 11:56am Mar 29, 2019 11:56am
The chop is killing me today. And the market being the market, trends on the 1m right when I get up from my desk. Not a great start to trading full-time.
  • #11,643
  • Mar 29, 2019 12:13pm Mar 29, 2019 12:13pm
Gotta find a way to deal with the chop. Either 1. Demo trade range trading until I am confident with it. or 2. Avoid trading altogether and indulge in life.
  • #11,644
  • Mar 29, 2019 12:41pm Mar 29, 2019 12:41pm
Quoting J-f
3 trades today (SIM): T1: short on a 123 with small thrust bar (is it the same entry as your first at 97.50 by any chance Divergence?) T2: long from the first 123 after a possible change of trend T3: short after a nice thrust bar that took out previous HL to form a LL (kind of not clean 2b with nice thrust bar break). I won’t lie, I was piss*d off that this one didn’t even react, as it went to +2T positive max :0) That being said, I would definitly love every day to finish positive like this one! Have a nice week end everyone. Cheers, J-F {image}...

this is much easier said than done, after the fact. Take a look at the price action I've noted for your 3rd trade. Again, easier to see and explain in hindsight, but something to think about for the future... The trend had changed. You had just taken a long previously. I was NOT in front of my charts at the time, so this is after the fact. But this scenario gets played out often... It was a "backtest" of the broken down trend line. And if you were still in your long trade and trailing it, you'd probably move your stop just under that green bar, right? It's the obvious spot on the chart. So there were a lot of stops underneath that bar...

*edit - good trading also! Losses are going to happen sometimes.

What is just a stop run and what is new momentum? That is the key. Figure that out each time, and you'll be a billionaire lol.

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  • #11,645
  • Mar 29, 2019 1:02pm Mar 29, 2019 1:02pm
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  • #11,646
  • Mar 29, 2019 4:28pm Mar 29, 2019 4:28pm
Quoting jack411
{quote} this is much easier said than done, after the fact. Take a look at the price action I've noted for your 3rd trade.
Thanks a lot jack411,

I see what you mean with the stop hunt on the 3rd trade.
It is clear from your anotation of my previous chart. Thanks again for taking the timeto do it.
Especially, after the fact, you can actually see that the thrust bar took the HL off by only a tick or so.

As you said, how to see it is a stop run and not a new momentum/trend starting ah, ah!!
It is a leap of faith I guess :0)

I'll try to keep it in mind for next week to see if I can "feel" it happening.

Have a good week end,
Cheers,
J-F
  • #11,647
  • Mar 29, 2019 4:33pm Mar 29, 2019 4:33pm
Quoting Divergence
{image}{image}
Thanks a lot for taking the time Divergence.

As often, anotated charts are worth a thousand words; well it speaks to me anyway :0)

Even if I know nothing, I would still say "very good trading", and clear explanations of entry and why you enter at that specific place in the candle (simply, often 12 ticks from the tip).
Thanks again.

Cheers,
J-F
  • #11,648
  • Apr 1, 2019 8:10am Apr 1, 2019 8:10am
The thread looks good now that it is back to being focused on trading and concentrated on Harold's set ups. Probably had too many cooks in the kitchen for a while there. I'll try not to muddy the waters any myself.
  • #11,649
  • Apr 1, 2019 8:31am Apr 1, 2019 8:31am
Quoting ddaytrader
The thread looks good now that it is back to being focused on trading and concentrated on Harold's set ups. Probably had too many cooks in the kitchen for a while there. I'll try not to muddy the waters any myself.
You have had some great input. I follow along all the time and even post, but rarely add much of value except to tell people i appreciate their input. LOL
  • #11,650
  • Apr 1, 2019 8:41am Apr 1, 2019 8:41am
watch out for ism news at 10 it usually causes a spike
  • #11,651
  • Apr 1, 2019 8:43am Apr 1, 2019 8:43am
Just missed the fill at 78.50 (change of trend. 123). I was at 78.75 :0SSSSS
  • #11,652
  • Apr 1, 2019 8:50am Apr 1, 2019 8:50am
Quoting Divergence
watch out for ism news at 10 it usually causes a spike
Was just thinking thats got our range tight. People waiting for the news . . ..
  • #11,653
  • Apr 1, 2019 8:50am Apr 1, 2019 8:50am
Quoting J-f
Just missed the fill at 78.50 (change of trend. 123). I was at 78.75 :0SSSSS
Don't worry about the ones you missed. It never happened. Just manage the ones you're in.
  • #11,654
  • Apr 1, 2019 8:51am Apr 1, 2019 8:51am
it seems to be the only 10 am news that affects the market
  • #11,655
  • Apr 1, 2019 9:41am Apr 1, 2019 9:41am
0 on nq for me BUT 3 123s on ym so nice day considering
  • #11,656
  • Apr 1, 2019 9:59am Apr 1, 2019 9:59am
I've been trading the ES. Market has been dead flat with not one set up yet. It is tough to make money when price barely budges.
  • #11,657
  • Apr 1, 2019 10:06am Apr 1, 2019 10:06am
Quoting ddaytrader
I've been trading the ES. Market has been dead flat with not one set up yet. It is tough to make money when price barely budges.
i 've tried that market awhile ago it just doesnt move to much volume
  • #11,658
  • Apr 1, 2019 10:07am Apr 1, 2019 10:07am
Struggled quite a bit this morning.
In a way, it was a “day as usual” today.
Could have been a lot better with a bit of luck, but could have been worse too: sounds very familiar :0)

2 trades (SIM):
T1: short on a 123 with thrust bar, no real reaction at entry. Reduce SL above entry candle for a clean loss of -9T
T2: long at the end of session on a 123 with nice thrust bar. In a way it wasn’t perfect as it hadn’t taken out the very last HH from 15 or so candles before (see chart). Price reaction after entry was encouraging, and I reduced the risk below the entry bar (it is what I try to do at the moment to see how it feels, and if it helps or costs after a good sample of trades). It went straight to +13T but then didn’t really go anywhere. I resisted the urge to take partial profit manually as I would like to see how it plays after a good sample of trades. At the end, it was a loss for -1T.

I hope people from this thread had better luck today, and finished with positive ticks.

Have a good day.
Cheers,
J-F
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  • #11,659
  • Apr 1, 2019 10:14am Apr 1, 2019 10:14am
Quoting J-f
Struggled quite a bit this morning. In a way, it was a “day as usual” today. Could have been a lot better with a bit of luck, but could have been worse too: sounds very familiar :0) 2 trades (SIM): T1: short on a 123 with thrust bar, no real reaction at entry. Reduce SL above entry candle for a clean loss of -9T T2: long at the end of session on a 123 with nice thrust bar. In a way it wasn’t perfect as it hadn’t taken out the very last HH from 15 or so candles before (see chart). Price reaction after entry was encouraging, and I reduced the risk...
both those trades no 123s
  • #11,660
  • Apr 1, 2019 10:17am Apr 1, 2019 10:17am
heres ym first trade 123 very clear at top of market 2nd after pullback trend 123 to get back into uptrend 3rd another 123 to get back into trend each one of those had thrust bar at 3 point
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