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Yes, good point. Today was a trending day and the other days have been ranging, but due to light volume it can definitely give you that false sense of security.
That is a good point and something I will start asking myself.
Wow, thank you Olliver! That is very kind. This journal has kept me honest, otherwise I would be trying to fool myself continually!
That is I think the true value of a journal, although it is funny you will have so many guys come in and try to get you to trade their system. The following year should even be better.
Well, I missed the best trending day in a very long time! Well, I sort of missed it.
I got in short last night at a pivot with a 5 point stop. My goal is to put together some long term trades and see how they go, so I will be keeping two journals for LT and Intraday.
I goofed and had my profit target too close so when I turned on the computer it exited me. (When I go live on LT, I will have to upgrade to something with server-side stops/TP's or work them through my broker or something.)
I took about 3 points 'heat' and then hit a nice 25 point PT all out. I was doing 1,000 contracts as that is my goal so I will keep with that for now. I will wait for another setup. Last night had nice divergence and seemed like a good drop was coming with some strong resistance and I put my stop right above a nice trendline and some more resistance.
So, while I got a whopping 3 hours sleep and went to bed after the market opened, I still watched it and played around, but took nothing seriously since my brain was incapacitated. I would be holding this short had I not goofed on my stop but will honor my screw-up.
684.50 was my goal.
My goal is that the longer term trades will help me better understand the intraday direction better and I will be able to take trades outside of 3am my time!
I think this is beginner's luck on this one here with the big move. This should be fun.
Will be back tomorrow after getting some sleep tonight. So, hopefully I will teach my kids to be master traders before they ever have the thought about having their own children!
Ok, not a great day of trading for me. Not terrible, but not great.
One thing though is that the market was 'crystal clear' for me today. I saw the short, I then saw the LONG.
I continued to play around with the market and took it up to 9.8 points for the day, but I was just watching in-between eating and listening to the kids whine!
The only trade I regret today was the long on the trendline right before the big push down. That was a possible 'area' but not real likely. I also could have obviously stayed in that short, but that deep drop surprised me.
It seems volatility is back, so jump on board and make some points. I am proud that I stayed out of the ranging at the market open!!
Video
Long Term Trades:
I almost considered a LONG today near the bottom, but I didn't think I could get 25 - 30 points out of the run and see some more resistance very close to where it sits now. I will wait for a better entry and clearer, but looking back, it would have been a nice BE+1 trade right now!
Rangy day, too few hours of sleep, kids still sick, kept me up most of the night. Decided to be 'cautious' as my head is good, but a tiny bit foggy.
Set up a long term Stop breakout on the downside, but it never hit my entry. I have since taken a long term LONG at a pullback and will see how that plays out today.
I see Horst is back in the video making business with is great. Feeling good, but a little foggy on direction today.