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Plan the Trade

  • #11,741
  • Apr 4, 2019 11:19am Apr 4, 2019 11:19am
Quoting jack411
hey divergence, On NQ you start with a 12 tick stop loss. When you’re up 6 ticks auto stop goes to +1, when you’re up 15 auto stop goes to +10, then final target is +25. Is this correct? Do you use the same numbers on YM? I seem to get stopped out at +1 often. I’ve been using - when I’m up 5 ticks auto stop to +1. I think that’s a little too fast and maybe I need to give my self a little extra space. I just recently started using the auto stops though, so I’m still toying with it. {quote}
yes up 6 stop to plus 1 on ym and nq
  • #11,742
  • Apr 4, 2019 11:21am Apr 4, 2019 11:21am
Quoting ddaytrader
I was discussing the concept of "Three pushes" market behavior in last night's blog post. Here is a potential for three pushes, or we may have the first higher low of the day which would again put us on the look out for long signals. {image}
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  • #11,743
  • Apr 4, 2019 11:33am Apr 4, 2019 11:33am
Quoting Divergence
{quote} it looked like you had a 123 break pullback filled to get back into trend
Yes. I am doing the blog system as a "long only" method for now, but if I were running the short sigals also there were three, with short entries during the bars ending at 10:05 AM, 11:05 AM, and 12:15 PM Eastern. 11:50 could have been sold also, but per the rules, %K did not first retrace to below 20% (it made it to 20.72% so very close. This method should very often align with either a 123 entry or a 2B entry. Yesterday, for example, a short entry would have been made at either 12:15 or 12:20 at the 2B top. Again, I am doing the first week or two of this as a long only method. If the daily appears to be heading into a down trend, I will lift that restriction sooner.
  • #11,744
  • Apr 4, 2019 12:18pm Apr 4, 2019 12:18pm
Just exited the second trade of the day with +2.25 points per rules. Price may in the end continue to ideal target, but rules is rules

Attached Image (click to enlarge)
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I'll go over the whole day tonight at the blog. New blog address is https://ddaytrader.com/ (wordpress offered it to me for free, so why not?!)
  • #11,745
  • Apr 4, 2019 2:03pm Apr 4, 2019 2:03pm
Two things: First, a third long signal completed its ideal profit target of +4 points. However, per stop rules again the profit would have been truncate prematurely. I did not take it as I had to pick up one of my kids at school this afternoon. The signal was the candle ending at 14:05 PM Eastern and the trigger candle followed immediately.

While waiting at the school I had brought my ipad to go over some data I have accumulated in preparation for this blog, and it looks as though it might be better to change the profit taking to a fixed target of 4 points on every trade, and to leave the stop at the actual risk stop once actual risk is known. Initial risk stop stays the same. I will update the blog if I decide to make this change.
  • #11,746
  • Apr 4, 2019 7:22pm Apr 4, 2019 7:22pm
Tonight's blog post: https://ddaytrader.com/2019/04/04/ap...rategy-review/
  • #11,747
  • Apr 4, 2019 8:39pm Apr 4, 2019 8:39pm
Been so busy at work can't post anything worthwhile let alone trade. Glad to see people picking up divs system. And kudos to you dday for showing what you're doing. Just showing consistency can help others.
  • #11,748
  • Apr 4, 2019 9:42pm Apr 4, 2019 9:42pm
DD,
Good point here about the entry being only 1point from the high.
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  • #11,749
  • Apr 4, 2019 9:48pm Apr 4, 2019 9:48pm
Quoting Divergence
{quote}nice day 9525 {image} {image}
Outstanding as usual H
  • #11,750
  • Apr 5, 2019 5:40am Apr 5, 2019 5:40am
Quoting LookinGood
Been so busy at work can't post anything worthwhile let alone trade. Glad to see people picking up divs system. And kudos to you dday for showing what you're doing. Just showing consistency can help others.
It is forcing me to be consistent myself. After taking an extended break from trading I found myself making some undisciplined errors. The blog is as much for me to improve myself as it is to share with others. The twenty trade challenge is probably a good exercise for anyone struggling with sticking to a plan and gaining consistency.
  • #11,751
  • Apr 5, 2019 8:31am Apr 5, 2019 8:31am
let the games begin
  • #11,752
  • Apr 5, 2019 8:52am Apr 5, 2019 8:52am
I wrote about "wedging" price action on my blog in a post a day or so ago. This would typically have been a buy signal for me, and at some point I will cover how I trade it. For now, I aam only taking the 5,3,3 set ups as they come. We have not had a signal yet.

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  • #11,753
  • Apr 5, 2019 9:07am Apr 5, 2019 9:07am
nq pullback at 9625+25
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  • #11,754
  • Apr 5, 2019 9:44am Apr 5, 2019 9:44am
a bunch of +1s a +10 and a +25
  • #11,755
  • Apr 5, 2019 9:51am Apr 5, 2019 9:51am
Very difficult session today.
4 trades and 4 straight losses.

This is what I saw (SIM):

T1: long on a 123s back into the trend. On the fill we had that massive down candle that developed and took me out promptly, within seconds. SL hunt or not (it finished just below the range before the price went back up), I can't say obviously, it just happened.

T2: short on a 2b, but it is not at the end of an uptrend. Even if it could have been a winner, that is a mistake, I shouldn’t have taken it.

T3: short on a 123s at the top of the range. On the fill, the price didn’t really go anywhere, and after a couple of minutes took me out.

T4: short on a 123s at the top, after a nice long run. Same on the fill, the price didn’t really react. At the end it took me out to the very tick, before finally going down and it would have reached the profit and way beyond. A bit of a classic in a way.

After the 4th loss, I called it a day, as even if it is only SIM, it was clearly enough for my brain.
On the "plus" side, at least I didn't mess up with my stop loss...

Have a good week end every one.
Cheers,
J-F
Attached Image (click to enlarge)
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  • #11,756
  • Apr 5, 2019 9:55am Apr 5, 2019 9:55am
Quoting J-f
Very difficult session today. 4 trades and 4 straight losses. This is what I saw (SIM): T1: long on a 123s back into the trend. On the fill we had that massive down candle that developed and took me out promptly, within seconds. SL hunt or not (it finished just below the range before the price went back up), I can't say obviously, it just happened. T2: short on a 2b, but it is not at the end of an uptrend. Even if it could have been a winner, that is a mistake, I shouldn’t have taken it. T3: short on a 123s at the top of the range. On the fill,...
jf your 123s are wrong no inside bars to make up 123s they must overlap the last 123 i took also but when price takes out point 3 i move target up to +1 and a candle cant be point 3 and break bar
  • #11,757
  • Apr 5, 2019 10:57am Apr 5, 2019 10:57am
Quoting ddaytrader
I wrote about "wedging" price action on my blog in a post a day or so ago. This would typically have been a buy signal for me, and at some point I will cover how I trade it. For now, I aam only taking the 5,3,3 set ups as they come. We have not had a signal yet. {image}
Spotting this "wedging" and judging %K at the same time whilst watching "LIVE" Price Action is the difficult bit methinks DD ?
every Saint has a past. Every Sinner has a Future
  • #11,758
  • Apr 5, 2019 12:15pm Apr 5, 2019 12:15pm
Quoting turnip15
{quote} Spotting this "wedging" and judging %K at the same time whilst watching "LIVE" Price Action is the difficult bit methinks DD ?
I think it would be if we were taking signals off a fast chart like the 512 tick or the 30 second. But these are 5 minute candles. Very leidurely pace. Yo even know when it is safe to get up for another cup of coffee or grab your lunch.

So far today -1.5 points and currently in second trade of the day long at 2892, with a profit target at 2896.
  • #11,759
  • Apr 5, 2019 12:35pm Apr 5, 2019 12:35pm
Quoting Divergence
jf your 123s are wrong no inside bars to make up 123s they must overlap the last 123
I am so stupid, you told me exactly the same a couple of days back, and I had worked on it from yours and Erasmus’ charts.
And I do the same thing again. Pathetic.

Anyway, step by step hopefully forward.

Once more thanks a lot Divergence for your time and help.

Thus on Trade 1, point 2 and 3 “seem” OK, but the big bar forming the point 1 is never over taken to form point 2, and thus it is not a 123s.
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  • #11,760
  • Apr 5, 2019 12:37pm Apr 5, 2019 12:37pm
Quoting Divergence
a candle cant be point 3 and break bar
That one is pretty clear as well.
I just need to hammer it in my brain!!

Thus trade 3 is not valid as clearly the bar forming the point 3 is then the breaking bar (same 30s candle)
Attached Image
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