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Need better discipline. Used stop entry. Still having issues with using STOPS and have to get over it. UGG
Relief shortly after FOMC knew there was a good chance for whip saw action, and enough to get me out, still allowing trade to get as much against me is bad trading. Stopped trading for day after that trade. Kept active with market though.
Hi BD, I've been following your journal for a while now. I was wondering if you have a specific plan in place in terms of how you are timing your entries and if there is a specific set of criteria you are looking at in order you to enter the market. You certainly have a lot going on with your chart but I don't know what you are really using and not using to make your decisions...just curious.
Comeback King thank you for asking.
I've been watching the ES fairly exclusively now for over five years. (Ya think I'd have it figured out by now... NOT)
Most of my trades are GUT trades with some initial indication from indicators and trading levels. Even though gut trades in nature I try to use Stop Limit (I don't like slippage) for entry and to either put stop for exit or close trade early within a few minutes of entry if trade does not feel right. Working to get 1 risk for every 3 gained, but it doesn't always work that way.
There are three charts that I use even though I only post my main trading chart. Main chart is a Two minute chart with confirmation from 6 and 15 minute charts. For me to take an entry about 80% of the time all three have to be in alignment with Stochastics. I'm looking for coming off Oversold or Overbought conditions for entry.
A while back I made my Battle PLAN: to continue forward with. Was hoping I'd find it quickly so I wouldn't have to retype... LOL
Okay decided to take a picture instead. Battle Plan and my intended trading times.... I don't always follow both.
In addition to all this I'm influenced by all my teachers past, and present.
While I don't get actual trading tips from them, I've learned a lot from them.
Two of my biggest lessons that I'm still working on. 1. Manage loss 2. If it feels wrong don't.
A lot of times I feel like I can feel your torment and conflict reading your journal, to trade or not to trade so I'm not surprised you're going off of a gut feel. I'm not saying that's good or bad, it just is. Keep what works and drop what doesn't; I suppose that's what we are all trying to to.
Win 10 Pro Update 1607....
Managed to jam it onto my machine somehow earlier this week, and my machine has not behaved since.
I'm now back on Update 1511 after a whole day of working and backing data off my computer because I didn't know if I was going to be able to get at things again.
Luckily I'm still able to run my trading program, but only until my computer decides to do something to render my screens BLACK again.
Well I'll be taking off until Thursday next week.
May you all have a great weekend.