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Plan the Trade

  • #13,001
  • Jun 2, 2020 9:40am Jun 2, 2020 9:40am
Too slow to take this 2 ( it wasn´t my day ).
Could you tell me if both are good entries ? ( 1st short, 2nd long )
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  • #13,002
  • Edited 10:15am Jun 2, 2020 9:45am | Edited 10:15am
..decided to take one last trade and glad i did so far - stops at b/e now for the day and will ride. Will post the chart and stats later.

EDIT:..so from -27T to +135T on that swing. Def shutting down for the day now
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  • #13,003
  • Jun 2, 2020 1:09pm Jun 2, 2020 1:09pm
Quoting xian
Too slow to take this 2 ( it wasn´t my day ). Could you tell me if both are good entries ? ( 1st short, 2nd long ) {image}
the first one I would be hesitant, couple of reasons, the first being where would you place your stop(s), second, I am assuming your graph is "wickless"
meaning the wicks above and below the candles are not shown. you could have a 10-16T wick above your short entry candle which depending on your
stops and risk, stop you out before the price moves back in your favor. that just takes watching closely. the second entry looks great, again assuming
there isn't some huge wick below it. I personally prefer a high/low bar as it encompasses all the trades of that 20sec (or whatever time frame) you are
using. you can use OHLC bars as well, but I prefer to keep the price as naked as possible. regardless on how you set your graph, practice and keep
copies of your trades, practice/demo trades etc to review. do a search for something called "the law of charts" by joe ross, it will help.
good luck,
regards
goma
  • #13,004
  • Jun 2, 2020 3:57pm Jun 2, 2020 3:57pm
a nice quick day
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  • #13,005
  • Jun 3, 2020 1:03am Jun 3, 2020 1:03am
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  • #13,006
  • Jun 3, 2020 9:49am Jun 3, 2020 9:49am
Quoting Divergence
a nice quick day {image}
Hello Harold.

Sorry to bother you. On your first trade did go long from the candle I have marked as being 123 and then went 123 back into the trend or some how you didn't take it (probably would be BE anyway).

Thanks Henry
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  • #13,007
  • Jun 3, 2020 11:02am Jun 3, 2020 11:02am
Quoting Zeonchik
{quote} Hello Harold. Sorry to bother you. On your first trade did go long from the candle I have marked as being 123 and then went 123 back into the trend or some how you didn't take it (probably would be BE anyway). Thanks Henry {image}
yes i went long first and got a +2 then short
  • #13,008
  • Jun 3, 2020 1:00pm Jun 3, 2020 1:00pm
Less than 70 points of range on NQ today so far. Decent volume just no real movement. Been scalping. Grabbing a point or two here and there. Tough trading day all around.
  • #13,009
  • Jun 3, 2020 5:28pm Jun 3, 2020 5:28pm
only had about an hour this morning to watch. chased one trade, which I missed and later regretted entering, watched it stay within my
bracket for about 5 min, finally trailed me out plus2T. bad entry I forced because I had limited time. tmro is another day.
good luck
regards
goma
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  • #13,010
  • Jun 4, 2020 8:52am Jun 4, 2020 8:52am
Looks like we could reach the pre-pandemic high for NQ. I don't try to understand why it is going up, just trying to not fight it.

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  • #13,011
  • Jun 4, 2020 11:07am Jun 4, 2020 11:07am
+ 20, bailed on a decent runner but overall, a very frustrating day.

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'in less than half an hour he made over 100 ticks'
  • #13,012
  • Jun 4, 2020 11:20am Jun 4, 2020 11:20am
chopped up today. the es is behaving like the nq. minus 8T and minus 9T. looking back, each entry looked to be in the middle
of a trading range, bad place to be.
good luck
regards
goma
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  • #13,013
  • Jun 4, 2020 11:27am Jun 4, 2020 11:27am
just did some trading results calcs for my trades to date this year, I was up 340T per the MES20, now up 146T. just shows me how tough market conditions have
been over the past couple of months, 1 step forward and 2steps back. stay tuned.
goma
  • #13,014
  • Jun 5, 2020 7:56am Jun 5, 2020 7:56am
Expected job losses around 8 million, actual job gains of 2.5 million. Unemployment expected at 19+% actual 13.3%. Market reaction, fake move up then drop. LOL!

Lesson: Don't try to understand why it moves the direction it does, just trade what you see on the screen.

I don't trade the news, I just like watching how the markets react to it.
  • #13,015
  • Jun 5, 2020 8:48am Jun 5, 2020 8:48am
Quoting magnumfreak
Expected job losses around 8 million, actual job gains of 2.5 million. Unemployment expected at 19+% actual 13.3%. Market reaction, fake move up then drop. LOL! Lesson: Don't try to understand why it moves the direction it does, just trade what you see on the screen. I don't trade the news, I just like watching how the markets react to it.

Annnnnnnnndddddddd now it rallies. LOL! BTW we just broke through the pre pandemic high for NQ. "God bless America, God bless Iron Man" Justin Hammer, Iron Man 2
  • #13,016
  • Jun 5, 2020 9:11am Jun 5, 2020 9:11am
..love it went the momentum kicks in - 312T up so far today (1 contract), started early once the dust from the news had settled a little. Might join in again if the momentum picks up.
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  • #13,017
  • Jun 5, 2020 9:31am Jun 5, 2020 9:31am
Quoting magnumfreak
Expected job losses around 8 million, actual job gains of 2.5 million. Unemployment expected at 19+% actual 13.3%. Market reaction, fake move up then drop. LOL! Lesson: Don't try to understand why it moves the direction it does, just trade what you see on the screen. I don't trade the news, I just like watching how the markets react to it.
trade what you see on the screen, now you tell me.. 3 trades this morning, a flat trade, and two minus 9T by stop out. another 3T on each trade
would have been in my favor. stops might be too tight, market conditions a bit wild for 1-2-3, but that is what happens. swing traders doing
well this morning. a couple of financial "stings" will get me to re-adjust to market conditions. I still think the es is more to my liking than the nq,
seems to behave better.
good luck
regards
goma
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  • #13,018
  • Jun 5, 2020 9:36am Jun 5, 2020 9:36am
I can't take it any more!!! Lucky to get +13. In the past, I would have been in there cut to pieces! Have a good one...

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'in less than half an hour he made over 100 ticks'
  • #13,019
  • Jun 5, 2020 9:55am Jun 5, 2020 9:55am
a nice week net 5 wins its been 11 months trading this way with 123s every week a winning one. the key patience wait for the setup and enter
  • #13,020
  • Edited 12:20pm Jun 8, 2020 9:34am | Edited 12:20pm
Started a bit late, missed the nice drop ;-(
2xBEs + 1 win, still demo geting the timing.
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