Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Tough day today.
3 for 6!!!
Took 3 WEAK / BAD entries!!!!
Still need to improve on this.
On NG trades, there was a much better qualified trade to take prior to 2 full stop out.
That would have made me 3 for 3!!!!
Going back and assessing and stay away from those weak trade setups!!!
7:29am... GC +5 MOM above 15MA. Green 15/50MA's
8:24am... NG -11 15/50MA Green - Weak trade!!!
8:30am... NG -12 3LB + MOM above MA's. 15/50MA Green - weak trade!!!
8:42am... NG +5 3LB above 50MA
9:16am... CL -10 Break below 50MA. 15/50MA Red. Setup candle never turned 2/3 outline. Weak trade!!!
9:41am... GC +5 3LB + MOM below 15MA. 15/50MA's Red
2 and done today.
Showed other qualified setups as well
6:53am... CL +5 3LB above Green 15/50MA's
7:17am... NG +5 2/3 Break below 50MA. Red 15/50MA's - aggressive for candle wasn't outlined ]2 or 3]
7:27am... GC +5 2LB / MOM above Green 15/50MA's
8:17am... GC +5 2LB above Green 15/50MA's
8:39am... GC +5 ABC below Red 15/50MA's - took this trade
9:01am... NG +5 MOM below Red 15/50MA's - tight trade. only went 6tix but if neg slip could be failed trade
9:04am... GC +5 2LB above Green 15/50MA's - took this trade
3 for 4 today... 75%
on my 1 loss need to take less than full stop out especially when thr
following candle closes at its midpoint of setup candle.
This is quite different that the following candle pulling back 4-5 tix of heat but ends up closing at its hi.
Again, implementing some money management would have produced a better results day.
Keep in mind I showed Pullback [PB] trades to 50MA. I don't take those but
still showing it as a viable setup within the rules.
CGQ had historical data issues on CL, so no CL trades today!!!
8:33am... NG (+5) PB 50MA
8:47am... NG +5 3LB below Red 15/50MA's
8:56am... GC (+5) PB 50MA
9:23am... NG +5 2LB below Red 15/50MA's
9:39am... GC -10 3LB above Green 15/50MA's - money mgmnt from above 6tix loss tops!!!
10:12am... GC +5 3LB above Green 15/50MA's
Slow day early on.
Patience for good setups and vol to return
7:14am... GC (+5) ABC Green 15/50MA's
8:56am... CL +4 2/3 cross 15MA Red 15/50MA's [adj to 4tix due to entry slippage]
9:22am... GC +5 Power Green 15/50MA's
Note: for managing trades going forward I will do an initial 10tix trailing stop as to limit the amt of
full 10tix stop outs.
Adj my profit if neg slip on entry.
Trades are based on 5tix or 6tix total move from entry....
Going with 4 contracts now with my trailing 10tix stop
This way should limit the amt of full 10tix stop outs, which should be more
beneficial to the bottom line...
9:34am... NG +5 2LB above Green 15/50MA's
9:52am... NG +5 3LB below Red 15/50MA's
Luck O' the Irish continues today.
3 for 4.
The GC losing trade I should have known better based on the prior Price Action choppiness.
I adjusted my stop as trade went 3tix in profit.