Ok this is my last one for the day ... honest
short @899, stop loss is 914, target is 869
short @899, stop loss is 914, target is 869
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DislikedOk this is my last one for the day ... honest short @899, stop loss is 914, target is 869Ignored
DislikedHere is what it looks like. To be fair, I did get a bit lucky on the short @48. As noted on this chart, the proper entry would have been a sell stop at 38, which would have been filled,. But price stopped at 37 and popped in the blink of an eye to 956, which would have resulted in my -15 tick stop loss getting hit. I missed the first entry, and when price started to fade I just entered with a market order. again, these are based on the 377 tick chart. On these volatile days, I think -20 stop loss and a +40 or +50 profit target might be better. But...Ignored
Dislikedwhen you get a chance DD could you give a little explanation of trade setup. from what I see is 3 34 ema hlc and taking 123 or 2b from extremes I could be wrong.Ignored
Dislikedso let me explain the little change in determining trend ... remember my goal is to make 50 ticks a day trading 3 contracts which is 750 dollars anything more than that is the gravy. 200 ticks a week with the YM isn't that difficult ask DD who tried it today as he is mainly and ES player. And to quote him when the YM moves it MOVES!Ignored
DislikedSo the reason for this subtle change is there was to many moving parts what I mean is I am looking at setup with 1 eye and trying to see if macd has crossed so this is a me thing to slow the game down so I can be ready just to enter because I already know which direction I am trading in it just becomes a point and clickIgnored
Disliked{quote} Actually my trading today, especially my first long win compared to my last trade - the short loss, have been very instructive to me. I will put together a chart with notes in the next few hours or days. I have some work to do before putting anything firm on "paper." The three lines you see are a Keltner channel: It is a 21 period MA (the center white line) and the upper and lower lines are +2 and -2 Average ATR's above/below the MA. In the subpane is the 34 CCI, and I use it for both trend and momentum. There are a few different rule sets...Ignored
DislikedThe H&S is basically your 2b pattern and i am finding it's mechanical entry a little easier to use than the 123's which are open to discretion. On top of the ones i have posted above, i just had another winner a moment ago, in reverse fashion; {image}Ignored
DislikedThe H&S is basically your 2b pattern and i am finding it's mechanical entry a little easier to use than the 123's which are open to discretion.Ignored
Disliked{quote} All can be discretionary in the absence of definition and rules. I mentioned "discretionary" earlier. I was doing so in reference to how I selected my ES entry at an ATR extreme. I probably misused the term, as I actually knew exactly at what price and whether I'd be using a stop or limit order before hand. What I should have said was the rules are compound, and cover several different situations, so I am not able to simply say "enter here". I need to write these scenarios out and the rules for trading each before sharing them, or else I...Ignored
Disliked{quote}if your trade plan is to trade a certain setup there is no question only a duty to trade the planIgnored
Disliked{quote}wisdom is defined by taking knowledge and knowing how to apply that knowledge. this is your process of planning the trade sequence when you have that in place your only duty is to trade the planIgnored