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Diary of a simple price action trader


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Diary of a simple price action trader

  #221 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

Halfway is 90% left.

I tried to catch myself at what felt like halfway—I tried to go, ‘don’t think of this as halfway.’ As a writer, this happens all the time: you go, ‘I’m at the halfway point, I’m about to submit it.’

There’s all these false finishes or false check marks. You think you’re further than you actually are and then when you realize how much further there is left to go, this is when it crushes you.

This is when it kills you. You have to have the discipline to reign in that preemptive celebration. The halfway point usually isn’t even close to halfway done…

You know what they say? They say halfway is 90% left.


-Ryan Holiday

Remember that when you're not profitable yet after 1.5 years.

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  #222 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

CL Feb. 12th

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  #223 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194


CL - Trading bullish imbalance (4R):

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  #224 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

"Simplicity, concentration, and economy of time and effort have been the distinguishing features of the great players' methods, while others lost their way to glory by wandering in a maze of details." ---Tommy Armour

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  #225 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

FDAX 3R trade

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  #226 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

CL 3R trade

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  #227 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

Price action trading conform the Wyckoff Method

"The market itself tells us everything we need to know about its probable future action. Every significant change in supply or demand is registered on the tape."

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  #228 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

ES Measured Move, risk 2pts to make 6pts (3R)

Used a target because the market was not trending (intraday RTH) and therefore breakouts often don't last long. Also, the trade was short in a bullish market, so buyers will likely come in at lower prices.

Used a trailing stop because I don't want to risk 4pts to make 2pts (known as evolving R).

I don't trade Measured Moves very often, guess I was just lucky.

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  #229 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194

ES MOC Imbalance trade (2.25R)

Pulled my trailing stop just a little too soon.

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  #230 (permalink)
 Miesto 
Monte Carlo, Monaco
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: NinjaTrader Brokerage
Trading: Futures
Posts: 647 since May 2012
Thanks Given: 801
Thanks Received: 1,194


CL: Feb. 13th Bearish imbalance repaired and back to value.

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