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Goal today is to place entries at Retracement areas, win or loose.
Post Trades
Started off good, showed great patients with first 2 trades with wins. Had to run some errands and do some yard work. Sat back down about a hour before close. I pressed a trade and lost and to boot made another hoping to make it up so as I would not look the dumb butt. So way to go Joe, your now a dumb butt!
Thoughts
I think there is a thin line between trading and calling it a business and trading because it's an addiction. My last two trades today could only be an addiction.
Raising contracts to two, enter nearest Retracement as possible.
Post Trades
Made 3 trades, all successful. Two were entered nearest the Retracement Area, one trade placed at a Larger Retracement Area (orange line).
Not sure I will be able to trade tomorrow so I am posting the month of May Trade Performance. For those following keep in mind my intent this month was to try and use what I refer to as Retracement Area to place trades/scalp. Along the way I incorporated an orange dashed arrow line which I refer to as a larger area Retracement. Either one of these areas is where the market looks to touch before reversing.
My performance wasn't good overall, 55.70% win ratio but as I mentioned earlier, its not about winning, although I always want to win. Is the Retracement area a good area to look to base a trade. I found that if reading the market direction is correct then placing an order at that area prior to the market reaching that area is the highest probability for a scalp or runner. There were many trades and Retracement Areas I didn't take a trade at, that's because I was either away from my desk, I wasn't reading the overall market direction or I just hesitated to enter because of the fear of a loss.
I started last April with this journal not knowing how it would affect my trading performance, I knew it would take a lot of my time and effort to post daily but I started and was determined to finish with good or bad results. I hope it opened some eyes of how the market like to retrace back to these area, I would have never thought about this when I first started trading. I would like to here from some of you followers, what you think, any suggestions to help me be a better trader.
Not a funded account, Ninja Trader Live using a Sim account. Real money not used. It is like Apex Funded account using Sim. Great way to practice methods. Although great discipline is needed to resist developing bad habits!
Made trade based off this analysis (+14 ticks), other than the momentary news spike it did as I predicted.
One trade made today, this entry was based off a Retracement area line (no longer showing) and what I have determined to be a repeatable pattern. It went against me only 1 point but turned in my favor for 14 tick gain.
Making a change, will now draw 6 lines for this pattern.
Turtle Patrol today, missed all but the last hour of trading. Made one successful 2point trade with one MES contract. Felt I was pushing it so I sat on my hands, not making anymore trades today. I had planned to start back live trading Monday but decided to break the ice today. It felt good to make a live trade and a successful one.
I think Mack (Mack's Price Action) would call this a perfect second entry short.
Thoughts
Nothing like getting out of your chair, taking a long 3 mile turtle patrol walk to help see the market clearer
