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Sure, its still a WIP for me ... nothing revolutionary, you can also youtube or search for it online.
1) golden line = 60 ema. hold or above go long, short if price is reverse
2) blue line = 200 ema, same as above
volume delta/stochastics -> helps show if overbought or oversold -> price showing wicks either up or down -> possible exhaustions of price so it could be time to reverse. The hard part is that it can be a false signal ... see todays chart 10:52 AM PST .
I had a solid day, traded well. I didnt break my rules ... didnt size up, didnt tilt, didn't average down. I had two losers today, could of cut sooner/quicker, but Ill let the data I collect help me decide in the future. The important thing was I didn't let it ruin my day. I let it slide. If I was going to have a red day today, it was going to be fine. Capitol preservation, the last thing I need to always remember. I can just walk away, tomorrow will have its opportunities.
I switch back to a bracket ATM : 35 tick S/L - 21 tick T/P. Never move S/L down, only up. 35 tick S/L is my hard stop. Average MAE was 13 ticks. Average MFE was 28 ticks.
@injpowwetrust .. good job .. obviously this is a WIP .. I say that because for almost 50 years I "practiced" dentistry .. oh sure, part of that was when I spent 7+ years getting through college but, in all honesty, college just made it so I probably wouldn't hurt anyone .. it took another 5 years or so before I had a pretty good idea of what dentistry is about and another 35+ years to get pretty good at it .. I have approached day trading much the same way .. each day is a learning experience ..
so keep up the good work .. the hard work .. you will get there .. day-trading is like surfing .. today may not be the wave you would like to surf but you can practice surfing anyway .. come back tomorrow and hopefully you will get to ride the wave of your dreams
my trading went pretty easy today .. 1 contract was traded in each trade .. 1 trade was placed in each account ..
because both trades were short .. the stop-loss was determined by the maximum of the previous 3 bars + 3 * TickSize .. aka the controlling swing high .. this resulted in a price value so the stop-loss value had to be converted to ticks and the profit target was 1.5 times the value of the stop-loss .. I don't know what the actual profit target was because the MaxDailyProfit portion of the AccountEquityGuard feature of my strategy capped the profit to a bit over 18 handles/points
if the trades were long .. the stop-loss would have been determined by the minimum of the previous 3 bars - 3 * TickSize
the stop-loss was a trailing stop so I'm pretty sure the trade reached break-even before reaching the MaxDailyProfit ..
one of my goals is to figure out how to move the stop-loss/profit targets manually .. interestingly, haven't found an example of how to do this on the internet
moved my buttons from the side panel to the top of the chart .. just to make my chart look cleaners .. these buttons have the code for the indicators built into them just as my previous buttons did .. and the box on the top-right side tells me when is a good time to trade and in what direction .. so no trade will be placed if I click the Buy-Market button when the trade indicator is showing Short-Trade
using RENKO-type bars made it difficult for me to see Bull Flags // Bear Flags .. some might refer to these as Rally-Base-Rally or Drop-Base-Drop .. so I switched to 1-minute && 3-minute charts
BTW -- changed the values for the OBVM-CD from 3 && 5 to 5 && 8 .. helps get rid of some of the choppiness .. think the line was 253 .. look for WMA(OBV(),3)[0] - WMA(OBV(),5)[0] and change to WMA(OBV(),5)[0] - WMA(OBV(),8)[0]
23 08 22.fw
.. you don't have to be the first one at the party .. just be part of the party ..
BULL FLAGS all day .. bounced off the EMA[21] (yellow) several times and broke through the previous Swing High .. 2, maybe 3 good trade setups in the first 30 minutes this AM for 10+ points/handles (40 Ticks) each ..
Opening Range breakout to the high side was good for several more 10+ moves .. ORBreakout is the price going outside the Opening Range .. coming back and testing the Opening Range and being rejected/denied .. in today's example, the price went outside the 15-minute OR-high and came back close to the OR-high before continuing in bullish direction ..
NO GAP FILL today .. gaps love to get filled .. and today's gap will get filled in the future (maybe later today) .. but not as I am writing this .. a gap is the difference between yesterday's close (you choose, ETH or RTH) and today's opening price .. gaps will get filled about 75% of the time
NO SHORT OPPORTUNITY today .. a short opportunity would have been seeing the price drop through the EMA[51] (red) .. coming back UP and testing the EMA[51] and being rejected/denied before continuing in a downward direction .. did not happen today ..
.. you don't have to be the first one at the party .. just be part of the party ..
@mewddsltd
8/22/2023
- dedication and deliberate practice ...wow 35+ that an amazing feat, couldn't do with the first half of my lifespan, maybe the second half will be different. Thank you for your encouragements and thoughts. I need
to engrain the surf analogy on those red/hard days.
- solid day, that is awesome
- funny, I've also settled on 3 bars for my t/p, gave a little more room on my s/l, but it shouldn't be more than 3 bars ...in my case 21 ticks. I'm still collecting data, but it seems like from heuristic view, 3 bars after
confirmation is solid movement before a reversal in the trend (usually 2 bar pull back).
- I like it, buttons on top and data on the right, very clean.
- yeah, I agree, renko bars can add difficultly in spotting a bear/bull flag.
- I made the changes, I have it in the backlog to look into it some day soon, so far loving the RSI version. Thanks again!
8/23/2023
- solid reads, great play on the ORB.
- price is still trending up lol
Solid day for me. I didn't break an rules. I'm still working on how eliminate noise from the signals/indicators I use. My one runner got stopped out, couldn't catch the big wave up, but it is what it is. I walked way intentionally today, I think I could of push for $400+ but I gave it some thought. I stood up and walked for a bit, came back, didnt like what I saw and walked away. I think this is something I need to often so that when hard days come, it will become just as easy for me to call it quits.
price action today on NQ was crazy and yet textbook .. GAP GOT FILLED!! price moved 550+ ticks in less than 30 minutes .. YIKES!! what a move .. Opening Range Breakout
the overnight high was about 200 points (800 ticks) higher than yesterday's close .. the EURO session started the sell-off at about 4 AM AZ time .. setting up a great opportunity for a gap-fill ..
drew a trendline connecting the lower highs since 4AM .. wasn't planning to go LONG until the price broke AND retested the trend-line .. would also be looking for upward VWAP && upward EMA[51]
sure enuff, the traders did not disappoint .. the sellers came in and started taking their profits dropping the NQ about 80 points in the first 15 minutes or so .. not to yesterday's close but good enuff for one of my accounts .. placed my trade when I saw the momentum and the price drop below pre-market low .. made 126 ticks in the opening move .. 1 contract .. 1 trade .. 1 account
switched accounts
price went outside the Opening Range and started a pull-back .. and then just stayed at the OR-Low .. didn't know if the price was going back inside the OR or maybe go out the other side .. so just sat there and waited to see if there was going to be an OR-Breakout .. after several long minutes I got rewarded .. a break to the downside for another 139 ticks .. 1 contract .. 1 trade .. 1 account
profit targets were calculated as a factor of the stop-loss method in the buttons strategy .. as explained yesterday
there was more to be made but that is OK .. 265 ticks in one day
MAE for the first trade was 22 .. MAE for the second trade was 2
takeaways for today .. patience .. pay attention to the GAP .. pay attention to the Opening Range Breakout .. pay attention to the trend
23 08 24.fw
.. you don't have to be the first one at the party .. just be part of the party ..
@mewddsltd - O WOW, amazing! Those are some beautiful trade, lol you did it twice, 100+ and with only 1 contract each... with such a low MAE.
-------------------------------------------------------
08.22.2023 - Day XX : +$500 : $2052/3000
I didn't trade well today. I was in a battle, and it was a battle with myself and the trend. I kept trying to go reverse, thinking its time for a pull back. It was a back and forth ... I would win a bit on my short trade and then give all back by going long. Anyways, lesson learned. I also did that earlier this week, I seem to be giving a lot back going against the my main trend indicator "60 ema".
