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Hey man, I enjoy reading your posts. You seem to have a very reliable strategy. I do have one particular thing I thought I might point out. Be careful using phrases such as "100% repetition guaranteed" As you might find out in the future that markets tend to change behavior. And nothing is 100% guaranteed. I'm not trying to come down on you or your methods. As I do think you are approaching markets with a highly technical and well thought out process. Your results speak for themselves. I look forward to reading more of your posts and will probably add some of my own ideas to this thread as time goes on. I try to focus on lower volume levels where price is continually rejected. I know this may seem basic. But it works for me and is a concept I can grasp and apply well in my trading. Anyway keep up the good work.
hi thanx. what i mean "100% repeatable entry" is that i am sure i would click into it tomorrow, the day after tomorrow, the day after the day after tommorow etc.. simply anytime. because the situation is so clear to me. i cant say that all situations i trade are so clear. sometimes i need to be more discretional. i am not a robot. that makes the approach little bit more complicated, becauese not everthing i trade can be described eaasily and repeated next day. but when somehting is "100% repeatable entry", i know i would click into it even with my eyes closed.
it doesnt mean that the situtation will be 100% times profit, it will not. but i will take it 100% times i see it
Oh I get you now. I was assuming when you said 100% repetition guaranteed. That the trade would repeat the same results 100% of the time. Yeah what you just said makes more sense to me now. Anyway what's your opinion on this market today. It seems as if the intraday chart from today is a mirror image of yesterday's. Pretty much the same range. Same price discovery. And same levels being accepted and rejected. Kind of odd for a Friday to mirror a Thursday like this in my opinion.
there was just one worthclicking situation today on nasdaq in my productive time. and no others. timing entry based on sellers´ liquidity abusion.
i was able to open the position with 2 contracts only because at the moment of my entry it was not validated as a low heat entry. the first screenshot shows a situation which is lets say 50% repeatable for me.
the price went couple of ticks agains me and validated the situation as a low risk entry. it was a "possitive drawdown" so i tried to open other two contracts to move my average price little bit lower, yet the price jumped up very fast and i was unable to catch it, so i let it only with the contracts and did not add more. the second screenshot shows the situation which is much more better and is lets say 75% repeatable for me.
these two situations look similar but they are completelly different when it comes to risk. the first one is quite risky. the second one is much better. it was my mistake that i was unable to catch it with the other 2 contracts. my reaction was slow.
the market moved up afterwards and it could have been a nice trade if i had a bigger size. with two contracts (and with this as a first trade) i was unable to reach further targets because i follow fixed trade management.
the markets are readable and from the next week i am going to open double or tripple size.
just to have idea how much this small trade is (because some people asked me) i am adding the tradelog. it it +160
A test of 2441.25, consolidation for three to four hours between 2438.50-2440, then a rejection back down to 2431. Almost identical to yesterday's price action. Similar distribution. And similar price levels throughout the session.
Have you ever considered lifting the offer when your limit orders fail to get filled on a long trade? It might help you to put on more size when a good setup presents itself and price runs away from your limit orders.
well yes, in this particular case i lifted the limit, but the price bounced really quickly. and i did not want to have a bad average price. this scalling into position is always quite an issue and needs to fit preciselly to the risk management that i follow. but as i said, in this case it was my mistake not to be able to open bigger size because the entry was 75% valid. i should have been more agressive. but u know.. i am always little bit dumb on friday..
