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Notes:
1. Did ES for 6 ticks gain but didn't put it in this data because it's not part of the plan.
2. Trying to hold longer on the winner, and it's working well today.
3. ZN didn't give enough opportunity to gain bigger ticks on each round turn, except at the beginning of the day (stated yesterday)....I believe this is because the lack of volume participation toward the end of the day. Need more experimental data to support this hypostasis.
4. Will need to remember to say "DON'T BE STUPID" at the beginning of the day tomorrow.
Can you help answer these questions from other members on NexusFi?
Notes:
1. I thought the 1st trade would go up, but it went against me, ZN seems to respect the price level so I added another one toward the low of the day and sold it too early for a breakeven trades. The strategy would be selling both contracts 1 tick below the previous LOD if it doesn't work out.
2. 3rd trade was just a regular trade where I see the MA & MACD crossed for a quick scalp.
3. 4th trade same thing as the 3rd. I see it trying to test the LOD again, but I wanted to end the day in a good note and not trying to risk the profit. So I bought back a bit early. The ideal trade would be buying it back @ $131'125 right before testing the previous LOD.
Notes:
1. No clear signals after 8:30 mountain time, had to trade around the channel...calling it a day.
2. Quick scalp on the last trade, saw it trying to go down but get rejected right away, and go up she goes. Wanted to hold longer but it went up so fast, so I decided to take profit.
Can't help shorting the ZN here...see the setup and execute.
I see it hitting the top channel and got rejected the first time, and took a shot shorting it when it tried to hit the top channel again for quick 4 ticks.
Feels a little bit unhappy with how I'm trading today. It's like forcing to make things happen, and it doesn't feel good.
Calling it a day before I go crazy.
Notes:
1. Whatever net profit printed, it feels like a very very ugly trading day, the feeling of trading in the chops feels bad.
2. You're welcome (to the broker )
After further thinking last night, I decided to dump 2 of my indicators: EMAs and MACD (these indicators giving me headache).
So the strategy is just looking at the area where I want to do the business (based on supports and resistance from 1 day before & last night). If the price fall or rise from those line, I have to get out. I use the 1 or 2 ticks abv and below VWAP area as a selling point.
I know if I trade around those area of interest, I'm comfortable to cut the loser quickly if even the price move against me because that means it goes to the area I'm not familiar with (based on the supports & resistance lines).
For now I'm keeping RSI as a checking mechanism on how comfortable I'm taking certain position. I'm aware that things can get oversold and overbought for a long period of time (but that's what those support and resistance lines for).
Notes:
1. I feel more relaxed and willing to hold the winner longer.
2. I have clearer idea where the trade location I want to take.
3. Not getting chop up anymore.
I followed all the trades as planned except the 3rd trade where I tried to short not inside my value area, that was very stupid and not well thought & what makes it worse I didn't close the position for a smaller lost (hate myself for that). I guess I'm still not used to this new strategy and messed up on that trade.
The last trade was moving well as planed at the beginning, but short lived as the other earlier trades. Had to close it earlier because I wanted to book at least one profitable trade for the day. And of course it start making the move after I close the position...I believe I would still hold it if I didn't make that 3rd trade mistake....it really messed me up today.
Just read it wrong the whole day and have enough. Another day another battle.
Notes:
1. I feel ok with taking a loss for all the bad trades except the 3rd trade, because I followed the plan and it just didn't work.
2. Still need some work on the discipline part.
I'm thinking about doing 30k TST combine before going live, I believe the goal is achievable. Maybe next month after I get back from another mine site.
It is one level further than SIM in these areas: discipline & pressure.
I think it's a great way to practice before going live and not risking too much money early on...and who knows if I pass it, bring extra dough home w/ actually not using my own money huahahahaha jk
)