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Gejordan Weekly Journal

  • #141
  • May 12, 2016 3:39am May 12, 2016 3:39am
Quoting mikepip
Trade 9 GJ short TP1 & running... out... updated chart. {image}
nice trade Mike
  • #142
  • May 12, 2016 3:45am May 12, 2016 3:45am
Quoting Tadeusz
{quote} nice trade Mike
agreed, what was your thought process on this one?
Be bullish on you.
  • #143
  • May 12, 2016 7:39am May 12, 2016 7:39am
Quoting gejordan
{quote} agreed, what was your thought process on this one?
I fibbed the recent high to low on m15 and price had stopped multiple times between 50 & 61.
When it came up to 61 again, I was a little leary unless it did what it did - tried to push higher and
get pushed back in the range.
So I tried the short.
My exit was down back at recent support and also at the 80 area...
  • #144
  • May 13, 2016 1:35am May 13, 2016 1:35am
Trade 10

Got in a bit early (agressive) and took a loss on EU.
Was considering GJ long at the same time. Had a tough time syncing with price action - esp. after the loss,
so eventually I said enough...felt myself getting frustrated & didn't want to make poor choices.
Attached Image
  • #145
  • May 13, 2016 4:19am May 13, 2016 4:19am
Quoting mikepip
Trade 10 Got in a bit early (agressive) and took a loss on EU. Was considering GJ long at the same time. Had a tough time syncing with price action - esp. after the loss, so eventually I said enough...felt myself getting frustrated & didn't want to make poor choices. {image}
never a bad thing to step away, but let's see if you can guess the question I am going to ask you about this trade
Be bullish on you.
  • #146
  • May 13, 2016 8:30am May 13, 2016 8:30am
Quoting gejordan
{quote} never a bad thing to step away, but let's see if you can guess the question I am going to ask you about this trade
A few come to mind...
Why didn't I take the 2nd action?
  • #147
  • May 13, 2016 9:01am May 13, 2016 9:01am
Quoting mikepip
{quote} A few come to mind... Why didn't I take the 2nd action?
nope, look at the trades you have taken, compare this one to the others, see if there are some comparable trades to this one and ask the question I am going to ask you.

Anyone else reading this can try this exercise as well.
Be bullish on you.
  • #148
  • May 13, 2016 6:01pm May 13, 2016 6:01pm
Quoting gejordan
{quote} nope, look at the trades you have taken, compare this one to the others, see if there are some comparable trades to this one and ask the question I am going to ask you. Anyone else reading this can try this exercise as well.
The first thought that comes to mind is, first action at an area, against the move, wait for a retrace.
  • #149
  • May 13, 2016 8:18pm May 13, 2016 8:18pm
Quoting Tadeusz
{quote} The first thought that comes to mind is, first action at an area, against the move, wait for a retrace.
Agreed. That was my next response as well...
  • #150
  • May 13, 2016 8:48pm May 13, 2016 8:48pm
Quoting gejordan
{quote} nope, look at the trades you have taken, compare this one to the others, see if there are some comparable trades to this one and ask the question I am going to ask you. Anyone else reading this can try this exercise as well.
A lot of my trades were with the move...
perhaps you are referencing that.
Why did I not trade a retrace short?
??
  • #151
  • May 15, 2016 5:53pm May 15, 2016 5:53pm
Just an ounce higher level. What you guys said is fine, but go back and read why I am assisting Mike, and then look at his trades and then compare this one to the others. See if you notice something that could be a potential cause to the problem he is having. Give you guys one more crack and then I'll give you a hint, if needed. I am looking for something that is a little bit trade specific, a little bit higher level thinking.
Be bullish on you.
  • #152
  • May 16, 2016 4:13am May 16, 2016 4:13am
After going back and looking at the trades and what has been posted, my thought is something that GE raised before regarding traditional PA. I'm not sure if the last trade was a traditional PA or not. It was a neutral bar, but if it closed higher than it opened then you could say it was a bullish pin. Still not a great one.

Going back to why GE is assisting Mike, it is to help him become more consistently profitable and reduce the amount he gives back. By sticking to clear traditional PA Mike might reduce the amount he gives back.
  • #153
  • May 16, 2016 1:21pm May 16, 2016 1:21pm
ok after pondering this I think it has to do with risk. More specifically in the other trades I was trading an edge of a channel or recent support/resistance.
This recent trade was not like that and edges were less evident.
  • #154
  • May 16, 2016 4:35pm May 16, 2016 4:35pm
Quoting mikepip
ok after pondering this I think it has to do with risk. More specifically in the other trades I was trading an edge of a channel or recent support/resistance. This recent trade was not like that and edges were less evident.
It is about risk, but not necessarily what you are saying. Check out post 144 and compare to trade in post 130.

Scott, what you are saying is more of the first step in figuring out how to become profitable.
Be bullish on you.
  • #155
  • May 17, 2016 10:28am May 17, 2016 10:28am
Quoting gejordan
{quote} It is about risk, but not necessarily what you are saying. Check out post 144 and compare to trade in post 130. Scott, what you are saying is more of the first step in figuring out how to become profitable.
Still not sure...lol
I went with the move on the trade in post 130.
I went counter trend in the newer trade.
I gave the first trade more room to work out with stop under support.
My stop was really tight on the newer trade (too tight)...
  • #156
  • May 17, 2016 12:02pm May 17, 2016 12:02pm
Quoting mikepip
{quote} Still not sure...lol I went with the move on the trade in post 130. I went counter trend in the newer trade. I gave the first trade more room to work out with stop under support. My stop was really tight on the newer trade (too tight)...
You finally got there. Inconsistency in stop loss size.

Now, next question: Did you really "give it more room to work?" and was the stop on the last one "too tight?"
Be bullish on you.
  • #157
  • May 17, 2016 6:35pm May 17, 2016 6:35pm
Quoting gejordan
{quote} You finally got there. Inconsistency in stop loss size. Now, next question: Did you really "give it more room to work?" and was the stop on the last one "too tight?"
OK the truth is the stop loss I place needs to be large enough to go beyond the area I plan to hold with a little bit of cushion.
I don't normally stay in trades like the one from post 130 but sometimes I do put a stop too tight. Perhaps a reverse engineering is a good idea. Determine the stop loss in advance and based on that know where I can enter in order to accept that amount of risk.
  • #158
  • May 18, 2016 3:17am May 18, 2016 3:17am
Trade 11
Long G/U
Jammed my stop quickly at got stopped at b/e.
Attached Image (click to enlarge)
Click to Enlarge Name: NEW11.JPG Size: 50 KB
  • #159
  • May 18, 2016 4:53am May 18, 2016 4:53am
Quoting mikepip
{quote} OK the truth is the stop loss I place needs to be large enough to go beyond the area I plan to hold with a little bit of cushion. I don't normally stay in trades like the one from post 130 but sometimes I do put a stop too tight. Perhaps a reverse engineering is a good idea. Determine the stop loss in advance and based on that know where I can enter in order to accept that amount of risk.
My point is that I think you are defining the effectiveness of your stop loss based on the outcome of the trade after the fact, i.e., too tight, room to work. Your last sentence is absolutely correct. If you are talking about your stop in this manner with me right now, I can only imagine you have been doing that while you are having your profitability swings when I am not around.

I am not saying this is a fix to your issue, just likely one of the symptoms.
Be bullish on you.
  • #160
  • May 18, 2016 4:59am May 18, 2016 4:59am
Quoting mikepip
Trade 11 Long G/U Jammed my stop quickly at got stopped at b/e. {image}
When you woke up and saw the result of this trade... what was your first reaction. The very first one?
Be bullish on you.
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