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1. The 22-25 Jun week really motivated me a lot. I was sim-trading most of the time and only threw in a few real trades "leisurely".
2. Tried to repeat the end Jun success and only did 1 trade on 30 Jun (settlement on 1 Jul). I was quite disappointed though I was glad that I did not just "trade"!
3. My official trading career started on 5 Jul. Friday was brutal as I almost gave back all gains. Glad that I learned to stop and kept some to soothe my psyche!
4. Last week was great for training me to be patient and SOH for news.
I am going to do BETTER in the coming days!!
Oh, we did some summer photo-taking this afternoon. See my new avatar?!! Too bad I was unable to create a new album capturing some of them. Tried for the past 30 minutes and uploads not successful so far. Maybe another time .. smile.
Almost time for our tandem bike ride. Glad that the earlier shower was a short one. Will be back tomorrow.
Almost forgot to mention that I've removed the CL Volume chart from my workplace. Got "out-of-memory" error messages too often + Inside/Outside Bar set ups don't care about volume.
Initial Balance: 1069.25 - 1059.00 (10.25 points) Value Area as at 10:32 am: 1069.25 - 1064.75 - 1062.75 (6.5 points)
Price opened @1065.25
Today's High and Low as at 10:32 am: 1069.25 and 1058.50
VPOCs: Top 1086.75 (1068.00 was touched) and Bottom VPOC 1039.50 Overnight High and Low: 1069.25 and 1060.00
I am bear bias though no 100% guarantee that Mr Market will rotate Down to meet my expectation LOL!
My recommendation: Trade the candle/bar in front of you!
There's a great Inside Bar set up completed at 10:00 am. I missed the big yellow Divergence dot and certainly the trade as well!
I was being too aggressive again (what's new) .. sigh .. I was anxiously waiting for a semi-auto TF trade (SMA crossover was going to happen with a red PASwing dot already in place) and completion of a CL Inside Bar at the same time. It's only seconds close to have either one or both of them got triggered. My laptop drew my attention with an order filled alert. We're talking about 1 or 2 seconds .. I missed both signals for placing a real trade!!
I was and still am extremely disappointed .. I have decided not to sim-trade my strategies on the laptop starting tomorrow (actually it's already closed). So my attention will only be on 2 monitors and not 4!!
How to resolve my semi-auto TF trade dilemma? I am going to consult Nelson and it's very likely that I will run it on live.
First, I have been monitoring it for almost 2 months.
Second, it has been generating maximum 2 (quite often 1) on a weekly basis - low maintenance.
Third, MFE has been between $200-$400.
Fourth, 80% profitable even it's closed automatically based on predetermined exits.
As soon as it's triggered, I will manage it manually. PT around $100-$200 would be great for semi-auto as a start though its predetermined PT/SL has been 60/20.
Now I will wait for an Inside Bar in the afternoon. Wish me luck.
During lapse time, I am getting myself more familiar with the CCI indicators. My weekend research did pay off as I now have a better understanding on the panel + ZLR trade set ups. Thanks to David again for the suggested links.
Jeff's CCI continuation trade set up and ZLR will be the only "new" ones I'm going to explore and try to master. If successful, they'll be in my trading toolbox.
Bear in mind that I have 3 set ups (not counting the semi-auto one), ie
1. Inside Bar (my favorite)
2. Outside Bar (uncertain because of its huge SL cushion)
3. Reversal Bar (I like it too esp with additional confirmation to make it a higher probability trade)
Beth, I wish not to labor myself with digging through 78 pages of posts. You seem quite successful with your methods. Do you perform any weekend preparation work for the trading week ahead or is always a candle by candle basis?
Thanks for dropping by. Hope the following may address your raised question:
1. I do 30-minute Market Profile analysis on ES
- upon completion of the Initial Balance Mon to Fri
- EOD analysis with VPOCs for the next day (Pre-market homework Mon to Fri)
2. Bi-weekly review on set ups and indicators
3. Weekly performance review on trader (me)
4. I do not trade when there's high or medium news (15 minutes before and after) + no trading until release of the weekly crude oil report
5. Have not paid attention to economic news or advisors' newsletters for months now. Trade the candle/set up in front of me. Currently use Jeff's Three Set Ups (Inside Bar, Outside Bar and Reversal) to trade CL.
Patience often gets paid off .. We had an Inside Bar after lunch and I got in. Took a little bit of heat (over 7 minutes in the trade though it's only a few ticks against the trade) .. PT 8 got hit and no more Inside Bar after its satisfactory closing.
Official Record: 8 ticks before commission .. haha .. Will do better in the coming days!!
Hey, I also found out it's my laptop that's unable to upload pictures over the weekend. Just created a summer 2010 album:
you say you do a market profile study on the ES. I see you post VPOC and the IB etc. Have you looked at how your levels end up playing out? In other words, did the levels act as areas of support or resistance that you could trade against? Today you said that 1068 was hit and that was near the days high, wasn't it? Just something to consider.
By the way, I like your goofy pictures.
D
The following user says Thank You to David_R for this post:
Glad that the earlier shower was a short one. Will be back tomorrow.
