6/10/24

Pre Trade
Sunday morning setup, will overnight PA follow the M pattern?

Screenshot (1)

Yes but not as clear as the last one.


Date 6/10/24

Live Yes SIM No

Number of contracts per trade 1 MES

Goal for the day: Make 2 successful trades, if 1st trade a loss, then only one more trade allowed for the day.

End of day summary

JMAL 

6/10/24 Pre Trade Sunday morning setup, will overnight PA follow the M pattern? Screenshot (1)

I think it is good to look for and identify patterns, but as Trailer Guy posted in my thread they are not the holy grail and additional context is needed.

Trailer Guy 

Comment on second entries- They aren't the holy grail, but they can be helpful. As Mack points out they have to be used in context. Mack sells a second entry indicator. IF you are a member of the blank chart group then you would rather learn to count them yourself. If you want an aid it is like most things Mack, not much money. Here is an example of the second entry indicator. He has since upgraded it from my version. Please think of me as a price action heretic. That 21 Ema Lizard Trading 's Fibonacci Bands, a Keltner based on 1.616 +- the 20 period Average True Range centered on the 21 EMA. The Stalk Zone Bands are one of the tings you get from Convergent Trading. They are their opinion, based on volume profile, of where the market is most likely to change direction. The color scheme is the solarized palette I downloaded from here several years ago. The engulfing and inside bar color markers are by Botz, may he rest in peace, posted here as TGN engulfing. As I said above, you can't trade 2nd entries as a stand alone.

And for me it is hard to wait for them to set up. Sometimes even if I'm paying attention to the chart patterns form at good areas and a few bars later I see them and say "how did I miss that." lol

Anyway don't take what I say as advice, I don't have the experience. I'm just commenting on what I'm seeing and doing at my stage of the journey.

Good luck with it!

rumsontrader 

I think it is good to look for and identify patterns, but as Trailer Guy posted in my thread they are not the holy grail and additional context is needed.

I only just recently discovered this pattern and I do see it repeat often. Now that I am able to devote more time to watching daily PA, I will be looking for consistencies and patterns, where the PA turns, where it is likely to go.

rumsontrader 

And for me it is hard to wait for them to set up. Sometimes even if I'm paying attention to the chart patterns form at good areas and a few bars later I see them and say "how did I miss that." lol

Pretty sure you are not alone in that regard, lately for me I get distracted by something, leave for a few minutes, come back and find that I missed some realy good trades. But on the other hand, I'll sit here for hours and not see anything. LOL

rumsontrader 

Anyway don't take what I say as advice, I don't have the experience. I'm just commenting on what I'm seeing and doing at my stage of the journey.

I would venture to say most people here in the forums are in the same boat, struggling retail traders, myself included.

JMAL 

I only just recently discovered this pattern and I do see it repeat often. Now that I am able to devote more time to watching daily PA, I will be looking for consistencies and patterns, where the PA turns, where it is likely to go. Pretty sure you are not alone in that regard, lately for me I get distracted by something, leave for a few minutes, come back and find that I missed some realy good trades. But on the other hand, I'll sit here for hours and not see anything. LOL I would venture to say most people here in the forums are in the same boat, struggling retail traders, myself included.

I agree with you in fact that's the whole boat ... the amount of retail traders that have a 10 year 5 year profitable track record is so much smaller than most people think. Lol great point!

Date 6/10/24

Live Yes SIM

Number of contracts per trade: 1 MES

Goal for the day: Make two trades and stop

End of day summary: Tough day of trading, going from 2 months of SIM trading then Live trading makes placing a trade hard. I hesitated so many times today during the time that I traded today, overall successful day with 2 trades. My first trade was a success +5 ticks, second trade successful +11 ticks for a total of 4 points.

JMAL 

Date 6/10/24 Live Yes SIM Number of contracts per trade: 1 MES Goal for the day: Make two trades and stop End of day summary: Tough day of trading, going from 2 months of SIM trading then Live trading makes placing a trade hard. I hesitated so many times today during the time that I traded today, overall successful day with 2 trades. My first trade was a success +5 ticks, second trade successful +11 ticks for a total of 4 points.

Green Day
.. way to follow your rules!

JMAL 

Date 6/10/24 Live Yes SIM Number of contracts per trade: 1 MES Goal for the day: Make two trades and stop End of day summary: Tough day of trading, going from 2 months of SIM trading then Live trading makes placing a trade hard. I hesitated so many times today during the time that I traded today, overall successful day with 2 trades. My first trade was a success +5 ticks, second trade successful +11 ticks for a total of 4 points.

What made you choose the s&p over other indexes?

1 Minute Man 

What made you choose the s&p over other indexes?

I started following Mack Price Action trading. The ES was all he traded and all I ever got to know. It was by chance.

JMAL 

I started following Mack Price Action trading. The ES was all he traded and all I ever got to know. It was by chance.

Makes sense..

Date6/11/24

Live Yes SIM

Number of contracts per trade: 1 MES

Goal for the day: Two trades and stop, win or lose, look for multiple reasons to enter trades.








End of day summary: Finished with trading early today, two successful trades.

First trade once again I hesitated on entry. Reason for taken the first trade, M pattern completed with a break of the trend line. Several retracements back to the retracement area. Expecting PA to reach larger M pattern resistance area. +5 ticks

Second trade, similar to 1st trade but with a better entry, after a break of trend line and return to Retracement area, neutral candle at trend line, 3 large empty CS to fill. +8 ticks.

Final thoughts: 2nd trade could have been a large runner had I not taken so much so early. Need to work getting more out of a trade.