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I missed the enclosed "perfect" signal this morning (the only one that met my preference 100%). What happened? Remember my preference waiting for breakout/breakdown before entry and not placing a Buy/Sell stop order. Then quite often I was too late in placing an order lol .. sigh ..
It reminded me what happened when I was trading the Inside Bar set-up. It took me some days to become a robot and placed a Buy/Sell stop order "fearlessly". Let's hope it won't take long to fix this bad habit.
I also reasoned with myself that I can always do only 1 trade as a start. Considering a 6-pip SL cushion, it's quite affordable.
We are going to have a winterstorm tonight .. then a warm weekend back to above -10 degr C.
Are you trading live or in SIM? You can't be learning to get over you fear of entry, or learning to time your entry, or perfecting your entry technique trading live. You have find and take as many of those setups you can see in SIM, so that in the process your brain will progressively learn to automatically know exactly when, and how to enter, by instinct, without hesitation, without a 2nd thought. If you are learning to do this live, it will take you much longer to get comfortable, and instinctual, with your technique.
When I am getting myself familiar with revised/new signals, I will sim trade them first. It's always been my "bad" habit to wait for a breakout/breakdown and tried to enter at a better rate. It has worked 6-7 out of 10 times for 6E as it has a slower price movement comparing to CL. Not for CL .. sigh .. placing a Buy/Sell stop order is the way to go .. else bye bye to some good trades without me in it ..
This morning while waiting for a divergence signal, I sim traded the regular ones with my Ergodic understanding. It difinitely worked better when it's close to a crossover and/or the Main line was already above/below the Signal line. Not yet certain on when the big lime/red dots would be plotted (not depending on -20/+20 level) though they're OS/OB related.
1. PT/SL @8/6 (no change for 1-contract trades): Adjust SL to BE when it moves +4 (not -2). If it does not move further (after 4-6), -2 SL is going to get hit almost every time. BE (or with 1-2 pips slippage) is better than -2 lol!
2. When it's +6, adjust SL to +2 .. then hopefully PT 8 will get hit in milliseconds. Else +2 for a little greenie trade.
Practice Practice Practice make "almost" perfect! Am not expecting 100% perfect .. haha ..
Note: I browsed through all Ergodic/TSI threads and found the above most informative. Actually, there're different versions for you to try incl one with sound/text alerts. Oh, I finally learned that the big red/lime dots = fading after re-reading the thread ..
When I did research, I've found a Stochastics with Color indicator (even it's Version 7, it works for 6.5). Really cool and I just posted it as follows:
To start the Year of the Rabbit, interesting things happened .. smile ..
1. Power outrage after the winterstorm. We finally got a rehearsal on the back-up battery. It gave me enough time to shut down the trading station. If I was in a trade, I would be able to exit .. great news!
2. I accidentally entered into a real CL counter-trend trade. With Ergodic on my side, I stayed a little and made +3. Really scary as I thought I was on sim when I placed the trade .. then noticed it's live. Racing heart and shaking fingers even after exit. Too unexpected. I must add that I was a little distracted when we heated up a vegetarian curry dish to celebrate the new year.
3. Having read more on Ergodic, I have a faster one (Panel 3) this morning for comparison. I like it so far though too early to decide.
For the afternoon, I plan to go through more historical data to see how the slower/faster Ergodic indies differ/perform.
Continue enjoying your day (first day of the Rabbit Year)!