NexusFi: Find Your Edge


Home Menu

 





Like a turtle to his balcony...


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one GaryD with 1,625 posts (688 thanks)
    2. looks_two josh with 67 posts (106 thanks)
    3. looks_3 greenr with 51 posts (53 thanks)
    4. looks_4 Deucalion with 28 posts (77 thanks)
      Best Posters
    1. looks_one Deucalion with 2.8 thanks per post
    2. looks_two josh with 1.6 thanks per post
    3. looks_3 greenr with 1 thanks per post
    4. looks_4 GaryD with 0.4 thanks per post
    1. trending_up 275,063 views
    2. thumb_up 1,158 thanks given
    3. group 36 followers
    1. forum 1,905 posts
    2. attach_file 1,043 attachments




 
Search this Thread
  #21 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011







My reasoning for this trade was the breaking of the trendline yesterday, and the obviousl resistance at it when it returned this morning.


Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
What You Know vs How much you know about it
Traders Hideout
Brendt Skorupinsky
Trading Reviews and Vendors
Is there a way to simulate CONTINUOUS CONTRACT?
NinjaTrader
Quantum physics & Trading dynamics
The Elite Circle
Has anyone taken trading from Agnieska Wood - Ahead Coach?
Psychology and Money Management
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
ApexTraderFunding.com experience and review
114 thanks
1 Minute Man
101 thanks
In futures why does price turn so hard against you
42 thanks
GFIs1 1 DAX trade per day journal
30 thanks
Joes Trading Garage
19 thanks
  #22 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011




Background trading is better when I am busy with other things. Today is a slow work day, and also has turned into a slow market day. I have just watched this 25 cent range of indecision off and on all morning.

And it reminded me of something said by Eckhart Tolle at the opening of one of his seminars...

My chart colors appear to me as kind of reggae today. What I seem to like most about them is they mean very little to me...


Why do I feel the need to do something once I am in a trade? Even now, it is hard for me to complete this sentence as I watch the market feel out it's final hour. As if I could do something about it...

Started this thread Reply With Quote
  #23 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


Into the close




I have not sat through a trade this long since I can't remember when. The forces that will eventually move price out of it's zone are not willing to make a decision... possibly not ahead of tomorrow's report... There is a new experience, I will try to hold on through the night and through tomorrow's EIA.



It may justify a change in my stop strategy though... Do I move to above the zone, far enough for stop runs? Hold at +5, or back to BE? Or will it get hit before open pit close today, in which case I do not need to make a decision. Many other traders decided not to make one today...

Of greatest importance though, is why the feeling of anxiety over potentially allowing profit to slip away?


Do I feel that there is any sign I am wrong in my trade? No... Nothing to say I am right really either.. except that my stop has not been hit... that could say I am right...

Started this thread Reply With Quote
  #24 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011




To myself, in a low voice, I leaned into the monitors and said, "oh yeah, bring it baby... " lol! What a trip to try to be so self-aware.

That is ego talking.


Market passed the 2:30pm mark, still in. But no freefall.


Started this thread Reply With Quote
  #25 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011




Tough market to short from this perspective. I have to get out almost to a daily view to have any real arguement for a short, long term.





And, from that perspective I have a wide range of stop choices.

Started this thread Reply With Quote
  #26 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,289 since Jan 2011
Thanks Given: 6,837
Thanks Received: 18,398

GaryD, happy to see you posting.

This has no risk for me to post, so I will consider it sim speculating The support at 96 was very expected, as this was the fairest price over the last week+ (yellow highlighted area). Buyers found there, no problem. Interestingly, you can also see 97 was rejected last week both from the upside and downside (highlighted blue box), and it was rejected again today, and you took the short. The most natural place to search for buyers again will be 96. However, if there is enough demand here, and 97 fails to reject to the downside, my expectation would be for 97.60, a major area of acceptance last week, to be auctioned for sellers. So if I were GaryD, and if I had a free short trade on, I would leave it, for the potential that exists, or cut it if I didn't want to watch it. But if I were GaryD, I would personally not have a stop any higher than today's highs, expecting 97.40-97.80 to trade before any real sellers are found.

I know you will not let any of this create a bias, so that's why I'm posting, as it's fun to do so for a product I do not normally trade


Reply With Quote
Thanked by:
  #27 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,289 since Jan 2011
Thanks Given: 6,837
Thanks Received: 18,398

A very brief part 2:



Today crude basically balanced in the upper distribution from yesterday. This is not particularly bearish, but the fact that it could not get above yesterday's high this afternoon either is not particularly bullish. Since Monday's high has been rejected, a move to Monday's lows at 96 might very well be in play, as you are looking for, but since even the VPOC at 96.27 from yesterday could not be tested, a move to the upside is not unexpected either. In short, today was a balanced day, and the market in my very humble opinion has a decent chance of breaking out of this balance to either side (perhaps more to the upside given the context of the day trading in the upper portion of Monday's range, having already found major support at 96). Anyway, hope this trade works out for you Gary!

Reply With Quote
Thanked by:
  #28 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


josh View Post
GaryD, happy to see you posting.

This has no risk for me to post, so I will consider it sim speculating The support at 96 was very expected, as this was the fairest price over the last week+ (yellow highlighted area). Buyers found there, no problem. Interestingly, you can also see 97 was rejected last week both from the upside and downside (highlighted blue box), and it was rejected again today, and you took the short. The most natural place to search for buyers again will be 96. However, if there is enough demand here, and 97 fails to reject to the downside, my expectation would be for 97.60, a major area of acceptance last week, to be auctioned for sellers. So if I were GaryD, and if I had a free short trade on, I would leave it, for the potential that exists, or cut it if I didn't want to watch it. But if I were GaryD, I would personally not have a stop any higher than today's highs, expecting 97.40-97.80 to trade before any real sellers are found.

I know you will not let any of this create a bias, so that's why I'm posting, as it's fun to do so for a product I do not normally trade



The funniest part is, when I started to figure out what you were saying, I stopped reading and skimmed through to the bottom!


You are right, I will not let any of that create a bias... and the only way I know how is not to listen in the first place! lol! The mind has a mind of it's own...

I will re-read once I have closed my trade.

Started this thread Reply With Quote
  #29 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


josh View Post
A very brief part 2:



Today crude basically balanced in the upper distribution from yesterday. This is not particularly bearish, but the fact that it could not get above yesterday's high this afternoon either is not particularly bullish. Since Monday's high has been rejected, a move to Monday's lows at 96 might very well be in play, as you are looking for, but since even the VPOC at 96.27 from yesterday could not be tested, a move to the upside is not unexpected either. In short, today was a balanced day, and the market in my very humble opinion has a decent chance of breaking out of this balance to either side (perhaps more to the upside given the context of the day trading in the upper portion of Monday's range, having already found major support at 96). Anyway, hope this trade works out for you Gary!



blah blah blah...

Started this thread Reply With Quote
  #30 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,289 since Jan 2011
Thanks Given: 6,837
Thanks Received: 18,398


lol Gary! When you re-read you will see that I have no real opinion either way as the structure is not particularly supporting either side in my opinion, so the joke is on you

Reply With Quote




Last Updated on August 5, 2013


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts