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Price needs to close below the 60 ema then close above the 21 ema. See green lines on chart below. At this point no additional long signals have been generated (although I am still tweaking the indicator).
I might have to load up ninjatrsder and give blood hound a try. Even just so a visual aid ot looks pretty nice. Currently using Sierra which is super nice
Had another decent day. Missed several trades but still managed to pull in over 90 ticks. First trade was the roughest. Not sure why I chose where I chose to enter but it almost took me out for a full stop out. It turned about 4-5 ticks away and I jumped out for a small gain. Could have made more but I was just happy to be out of that trade. If I would have entered where I should have then it wouldn't have come close to the stop. Knocking the weekend rust off I guess. LOL!
Still playing around with BloodHound on the weekends and trying to get it to see what I see on the charts isn't really any easier than just writing hard code. It's really good at things like comparing values but not so good on finding specific chart patterns unless you have an indicator dedicated for that and it has outputs that BloodHound can read. Still like it and think it is worth the investment. I put it aside during the week so I don't get distracted trying to refine it.
Been dragging my feet on completing step one of the TST combine. Still have a little ways to go but very near completion. Total max drawdown to this point has only been 0.8% which happened on the first day of trading the combine. Go figure. LOL! Account, when I trade it, has been on a slow steady climb since then. There have been no losing days since the first one. What was the difference? Stopped trying to fight the trend. I don't care if I miss half of the trend while it reverses. You can make a fortune only capturing 10% of the moves in any given day.
I wanted to post about something I read on another forum this morning. Someone was complaining that they felt the market was "rigged" due to the number of computers trading their algorithms. Their argument centered around how ES moved in a steady uptrend most of yesterday with little or no pullbacks. So, being a retired programmer I wanted to share my thoughts around computers and automated trading. When someone has a bad day trading it is very easy to fall into a trap of placing the blame on something external. "It's not my fault, the market is rigged" When, in reality, computers and automated trading doing most of the work these days have made trading easier in my opinion. Why? Fear and greed are not in the equation when a computer is doing the trading. It MUST abide by the rules programmed into the software. It cannot deviate from that plan. If you can see how the markets are working then why not just follow the market? Don't fight it, figure it out and join the party and ride the wave.
Ok enough rambling, let's get ready for today's trading.
We got a measured move to Yesterday high (RTH) and the 61.8% retracement. I amnot expert in harmonic trading but this was surely a level watched by many for going long.
A massive 10 ticks of profit. LOL! I promise I won't spend it all in one place.
Not all days have really nice long smooth trends. At least I survived it. Need a t-shirt for proof.
Missed a few entries that would have been reasonably profitable. Hard to tell by just looking back at it. Everything looks different in the heat of battle.
Will hang around for a bit looking for a few more scalps so I can get the wife a Starbucks coffee.
Just a visual judgement call. I don't like the minor swings that are really close to the downtrend (in this case). The second one that I missed due to a distraction has a good bit more room between it and the downtrend. Hope that makes sense. More of a personal preference than a must do.
