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My first entry of the morning is awfully marginal in quality. Bar 3 looked like a weak attempt at a reversal, so I sold above it. I set a profit target at 2R, but this might only be good for a scalp...not sure yet.
It looks like the lows of bars 6 and 7 gave the bulls enough confirmation to begin a test of HOD. I though about closing the trade at the close of bar 7, but then I thought it would be more fun to scale in higher above 1. I probably should practice how I want to play, but life is short...you know? .
As I type this, it looks like the test above 1 is failing...at least for now. Fun stuff!
hi... its only recently I've only started watching the Open more closely. I watched this on Friday and printed it before I saw your thread.. This is a product of Saturday morning...
Its ES, at the Open of the London Cash session. Obviously there's the Asian session beforehand. When London cash opens, the volumes doubles for maybe an hour... Fresh buyers and sellers... Its my preferred time of day to trade.
When the bar opened, it went up only 2 ticks and fell... hint? Then a slight recovery and rolled over on bars 3 and 4. Sellers entered and momentum built... Do I leap aboard momentum. I've always been weary of leaping aboard, always looked for the exact top... Evidence shows lots of bigger traders do leap aboard momentum, so why don't I...
I don't look at the 1 minute chart ever, but I thought it was interesting that after bar '1' the bulls seemed to test higher. Each test failed and then the selling momentum seemed to increase. I like to see that kind of confirmation before entering. How do you gauge momentum? Momentum seems so subjective to me because I don't have a good way to quantify it. .
This has gotten to me too. I have been dealing with a lot of unhealthy expectations and pressure I put on myself, even in market-replay. Its interesting that I started noticing a plateau in my own trading right around the time you decided to take a break.
I am just trying to work through some of my issues, things seem to be getting better but its all new territory for me so no way to really tell until I jump back in, which may be next week, maybe later.
Hope you are finding that happiness you've been mentioning!
@snax! Happy weekend! Your pizza looked delicious! It looked like you had steak, jalapenos, olive, mozz, and...I'm probably missing some ingredients. It looked great!
Your comments on 'unhealthy expectations' are interesting and very relatable. . I know that over the past 6 months I could have managed my expectations for myself way better. It's difficult to do anything right under pressure, even if the pressure is self-applied. Self applied pressure is about as fake as it gets, so it now seems so silly to get as worked-up as I did about some those loss days.
Anyhow, I'm feeling pretty good about things but I'm still not sure about how to start trading again. I'm thinking about maybe trading MES Pariah Carey-style with hold times over a few days. I still enjoy studying, and watching the markets in the morning, I just don't think I can do the 4:00 AM wake-ups to watch the gold market anymore. It becomes...too much.
I'm doing great though thanks! BTW...Nice trade the other day! I think you had a hold time that was many multiples greater than what you had been doing. I know that is something you had been trying to improve so it was great to see you do that!