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Took a LONG time for it to set up.....but it worked
And as always,
If you like this journal and find it valuable to you, please click the link below and hit the thanks button on that post. Unfortunately you can only thank me once in the voting thread but you can thank me all you like here....take care and hopefully this is helpful.
So here's my journal, I think it might be nice to win a combine. Hopefully the journal will help someone along the way as well as making sure I stay on top of things.
Should be an interesting month.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
If you like this journal and find it valuable to you, please click the link below and hit the thanks button on that post. Unfortunately you can only thank me once in the voting thread but you can thank me all you like here....take care and hopefully this is helpful.
So here's my journal, I think it might be nice to win a combine. Hopefully the journal will help someone along the way as well as making sure I stay on top of things.
Should be an interesting month.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Ok, it occurred to me that perhaps I'm not addressing certain things readers might like to hear about....so if you have questions or would like to hear something addressed I'm not talking about, let me know. I'll address them as best I can.....
Take care...
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Hi..Very good trading today.
Do you have any specific rules or mechanical type entry criteria ? Does something happen as far as a combination of the context of market conditions, indicator events..signs of momentum..? In other words, what has to happen that makes you put on a trade?
Its more about context than anything else....for instance, I have filters that must be met prior to a long being taken....and today, those filters were SHORT when I took a long....I knew this and yet my emotions took over for a little while....but when the stop was triggered, I had a sell stop waiting on the next tick. That trade met all the criteria for a short. All major filters were short and all the minor ones were short as well....which meant a nice runner....at that point, the only real issue was where to get out....I picked a target on the 240M chart and exited on a trail once price didn't get there and then broke up through the swing highs where my trail was.
I also watch the DOM pretty close when price gets close to where I think I want in.....that DOM better be moving pretty fast. Otherwise I'm cautious.
I like the flags, triangles, etc....all classical technical analysis. So apply the major contextual filter rules against the technical analysis and you have the makings for a trading system.
Basically the same stuff in reverse for the longs today....the first one was counter trend and I scalped that one. The second one was after I was expecting price to be short again and break down below the bull flag as the long I had just taken looked like a bear flag on a higher time frame to me.....but once it broke up, I knew the trend had changed and again took a look at the higher time frames for the target area. This time I didn't wait for price to break a swing low to get out. It was close so I exited on a bar by bar trail. Price did make it to that level eventually but it wasn't worth it to me to wait all that time for a few ticks.
After that, I was tired and not willing to trade any further....so called it a day.
Hope that helps.
Brian
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris