-Long @ 4775 ( right above W-VWAP) fading market-open move down

Wow ! I got stopped out immediately. Luckily I stuck to my plan and had a tight 3 point stop on that.


-Long again @ yesterdays OR-HIGH 4770.75
-Tight stop @4765.75
-Target 4803 but will see how price reacts @ todays OR-HIGH




I'm a bit scared here so im moving my stop into profit zone



So, It kind of One-Ticked the OR-high. I lost my confidence in the move.



I left some points on the table. It was just a move to get us newbies out

As I was posting, this is what happened



I am not messing with this little profit I have today.



I still believe in a move upward for the day, but I am going to do some studying, read around the forum a bit and go to work afterwards. I have to double check, but I don't think I have had a losing day in like 8 trading days or so. I will still be humble about it. Especially since most of my winning days have been really small. Like yesterday I took 2 trades and only made 1 point ( couldn't post because I had to run to work).

Good Luck to all !!!

-Job openings @ 10:00
-Crude oil inventories @10:30

Observation:
-Yesterdays price closed very close to yesterdays open. Only a couple of points difference
-Range was fairly low. ADR @ 51.45
-ON session brought price back down to yesterdays OR-low area
-ETH VWAP @ 4784, W-VWAP @ 4778, M-VWAP @4757

-Maintaining a bull bias even though price has stayed in the same range for past two days
-Expecting a push downward @ open until about S! 4771 then maybe a press higher until about 4800
- After that anyones game


-Stay focused
-Remove any fear. NO EMOTIONAL trades
-Don't hesitate to take a trade if signs are positive
-Maintain a comfortable stop-loss
-Don't hesitate to change bull bias if market conditions say so

Can't read market today AT ALL !!!! Seems like everything I do, Market wants to do the opposite.

Long 1 contract. Took me out so fast, did't even have time for a screen shot.... Down 6 points

Long again @ 4772 /stop @ 5 points...
WTF !!! Stopped out again !!! Got to re think this.......


Short 4767 stop @5.5 points .Last attempt ! I'll ride it down to S3 if I see momentum. If not S2 is my initial target.



Not sure here !!! I dont think this is happening....NOPE !!!! Stopped out !!! Again. I am done for the day

I will practice a bit and read until I have to go to work..
Down 16.5 points

Final Thoughts:

Just wanted to add that I feel like I chased my entries today. If you look at my first screen shot, you'll see my initial order was @ 4769.50. But I got anxious (FOMO) and took a long entry almost 10 points higher, which ultimately was stopped out. After that it was just bad decision after bad decision. My day could have been different if i would have left anxiety out of the equation.

If I would have waited for my initial order, who knows ?? The low was only 6 points below it, maybe i would have stayed in. maybe I would have been stopped out and entered at a better price with a clearer head ??
I won't dwell on it !!!! Tomorrow is another day

I guess i'll start posting my journal as my final trade plays out.....

12-8-2016

No major news. Only Nat Gas @ 10:30

-Yesterdays bull press confirmed my thesis
-Afternoon session pushed price about 30 points above what I thought it would
-Price broke above that 4760-4796 range since monday

-ON low range
-Resistance @ 4880, ADR : 54, ETH VWAP: 4846, W-VWAP: 4792, M-VWAP:4776


-I'm looking for another attempt to press higher
-Maybe a push down to 4844-4840 @ open then a nice move upward(not sure)

-Stay focused
-Be patient, there will be other trades

-Long @ pullback to OR-high 4850.75
tight stop @4847.25/ target near R1-4879



-Moved stop to above BE
-Price is coming back down on me



I saw signs of exhaustion and didnt take my 12-13 points.
-Stopped out with +2.25 points

-Long again @ VWAP /tight stop
-CRAP !!!! stopped out already 3 point stop....

-Long again 4850.75 OR-high/moving stop to 6 point stop.
*Stopped out again
(screen shot below is actually my 3rd attempt)



-Long again 4848.50/tight stop 4.25 points



I am FLAT !!!! with a coupl of point.. no strength in move... re-evaluating

OK.... I am trying long again since i am practically even for the day
-Long 4852



Moved stop above break even




I didnt Flatten and paid for it... Price came back down to my stop..

-Last attempt.....
-Long 4853.50/Stop 5 points/target 4863.50



-Moved stop to BE
-I wont take any heat on this......
-Any signs of exhaustion and I am flat !!!!




Thoughts:

Overall I ended the day up about 5 points. Not very happy!!! Once again I couldn't execute my trades properly. First off, I was to precise with my entry target and did not get in the market when I thought I should have. One-ticked my entry zone, but I wanted a better price and market just blasted off!! Then twice after that, I had 10+ points in the bank and did not take profit. I do want to get used to taking bigger profits, But both times that I hesitated to flatten the market was giving signals to get out.

Maybe I am being too hard on myself......
My losses were very minimal
Even though I didnt make a killing, my overall reading of the market is improving significantly
Confidence is coming back
Fear is removed

Only major new today is Consumer Sentiment @ 10:00

-yesterdays price was mostly choppy, ranging between 4840 (IB low) and 4868 (IB hi was 4864)
-ON session push price higher towards wher I had thought RTH would take it yesterday (4878 "ish")(R1)



-range was low after close until European session opened
-ADR-53.48 ETH VWAP: 4865, W-VWAP:4845, M-VWAP: 4779


-I am going to maintain a bull bias atleast until 4896 area
-right now price is dancing around my area of interest



-If I see a push higher @ open, i will watch what happens around R2 (4886)
-If we get a press down @ open, I'll probably be long @ 4872 "ish" with a target of 4896.

-Stay focused
-Don't chase any trades that have left me behind
-Don't hesitate to take any trades that look positive
-Be patient
-manage stops

Couldn't do my usual routine today due to work. I got to my desk late and had to leave early, but just as an update i took 2 trades. One loser one winner. +8 points

Oh and friday was a loser. Down like 9 points or so.


Sent from my iPhone using futures.io

Yesterdays price completely surprised me.Luckily for me, I wasn't trading because of work.I am not sure if I would have been able to read price action well yesterday.

-Most news came out prior to market open
-@ 10:30 we have crude inventories
-@ 2:00 we have FOMC economic projections and funds rate

-Yesterday price shot up 59 point within the first hour of market open,then almost another 20 after that.
-Not much volume behind the push upward. Sellers must have stayed out of the way. IDK !!
-After lunch price came down about 30 points.
-ON price just ranged around yesterdays close. Not much movement
-ADR:58.21, ETH VWAP: 4938, W-VWAP:4911, M-VWAP:4825

-Speculation of rate hike might push market to yesterdays highs again.
-Not sure if we will break the highs until after the official news comes out at 2 pm.
-I might watch price at open and be long until about 4960. Not sure really ....

-Be patient
-Dont hesitate to take the right trade
-Dont follow a trade that has left me behind

My fear is coming true, which is that the market will just range until FOMC news. Crude might give it some movement, but since i have 9.5 points in the bank, I think I'll just call it a day.

First long was a bit too soon. I thought I might have missed the chance to get in s,o of course I didn't follow my trade plan and I hopped in with my emotions..



Then I came to my senses when i got this strong pullback that almost stopped me out and realized that there is a possibilty that I might be wrong and we might just range..




So @ OR high, I took my measly 4.5 points and flipped short anticipating a downward move.



Then I decided I was not going to spend my morning getting tortured by the markets to then end up losing these NICE 190 bucks I have, so I have flattened with another 5 points and I am leaving soon to go to work and avoid any temptations to take any more trades..



Good luck to all !!! Believe me when I say that I am very tempted to come back to my desk at 2 pm and see if I can make some mula after the FOMC meeting, but I will refrain. I'll do some reading and then get out of here .