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)
Well not a bad week in all but there are a few things I need to corrected. Number one is not to fight bais, 2-3 lossers in the ES were from this. Second is not taking every trade. I do not know in advance what the out come is going to be so skipping trades is just one lost opportunity and being the house the more opportunity with edge the more money I will make.
Really like your trading style. Similar to mine, but much better.
Thanks for sharing your thought process. Your prep work is a great idea and something I really haven't done in the past. I'll be starting today to try to get a feel for doing it.
Thanks for posting today's trades. I have a couple of quick questions if you don't mind.
On your second trade, the second bar low wasn't broken on the next bar to trigger the short. Do you enter any differently when that happens or do you just keep the entry price the same and wait for it to be hit?
And on your chart it looks like the entry is more like 2 ticks below the 2nd bar low at 1354.75 (I'm assuming you enter 1 tick above/below the 2nd bar). It may just be the way the chart looks, but wondered if you entered lower purposely.
By the way, that moving the stop thing has been costing me more than it saves me lately too.
AT:
To be honest I have a hard time with set-ups that are not clear with two consecutive down or up bars. Most of the time I will take a 3 bar entry or gut feeling. That trade was a gut feeling with a little sweat. The next bar which would have been a 3 bar entry would have been a better entry. The first trade was not the greatest because it was the 4th or 5th continuation in the leg down without a macro correction. The best continuations are the first and second after bias has broke. I seem to get a little anxious at the open and seem to sit on my hands or take a trades without the greatest odds. The best trade ended up being the trade when I was off screen (of course) which the ES held micro bias down for the second time (the trade with the elipse on it).
Thanks for the questions - they're always helpful!
Thanks for the detailed explanation! Good luck with the day today.
-AT
"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
--------------------------------------------------------------------------------------------------------------------------------------