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Daytrading the mini-Dow - Page 18

post #341 of 524
4/1/12 at 11:58pm

I have a starter position long at 07 /ES

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post #342 of 524
4/2/12 at 12:27am

still an observer for the time being
 

Quote:
Originally Posted by BobK View Post



Do you trade futures Mike?

 



 

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post #343 of 524
4/2/12 at 12:27am
Quote:
Originally Posted by IchibomB View Post

I have a starter position long at 07 /ES


You have nerves of steel.

 

 

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post #344 of 524
4/2/12 at 3:11am
Thread Starter 

stop is at be

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post #345 of 524
4/2/12 at 9:52am
Thread Starter 

Good morning everyone. Looks like the trade was stopped out at +1. Oh well.

 

Time to rock today!

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post #346 of 524
4/2/12 at 9:57am
Thread Starter 

short 1402.25

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post #347 of 524
4/2/12 at 9:59am
Thread Starter 

1 out @ 1401.25

1 out @ BE

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post #348 of 524
4/2/12 at 10:03am
Thread Starter 

long 1403.75

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post #349 of 524
4/2/12 at 10:06am
Thread Starter 

out 1405

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post #350 of 524
4/2/12 at 10:23am
Quote:
Originally Posted by BobK View Post

OK guys, I can use some advice about 'My Plan'. I'm holding 6B short @ 1.5987. The trade is going against me BUT I think it tops @ 1.6024 and I placed my stop @1.6033. During this trading session it maxed out at 1.6031. I think the odds are in my favor that it reverses prior to hitting my stop and I can ride it down to 1.5961 and then back up. I'm thinking maybe I can play it like a yo-yo.

 

Does this plan sound OK to you guys?



Plan didn't work and hit my stop. Back in long at 6017.

 

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post #351 of 524
4/2/12 at 10:30am
Thread Starter 
Quote:
Originally Posted by BobK View Post



Plan didn't work and hit my stop. Back in long at 6017.

 



Now you're with trend! thumbup.gif

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post #352 of 524
4/2/12 at 2:18pm
Quote:
Originally Posted by JLC View Post



Now you're with trend! thumbup.gif


Now I'm a conformist. laughing.gif

 

 

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post #353 of 524
4/2/12 at 2:46pm

New target 6047 and maybe ride it back down.

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post #354 of 524
4/2/12 at 3:40pm
Thread Starter 
Quote:
Originally Posted by BobK View Post


Now I'm a conformist. laughing.gif

 

 



Welcome to the dark side koolaid.gif

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post #355 of 524
4/2/12 at 5:41pm
Thread Starter 

Recap of the day:

 

Points gained: +2.5

Total trades: 2

Winners: 2

Potential trade: 3

 

Today was almost perfect for me. First trade of the day was a nice down side scalp for 1pt gained and 2nd contract stopped out at 0.25pt for a total of 1.25pt. The chart below doesn't show it but 5min chart was a pinbar. After price reversed, I immediately went long once I got the signal for it (at this point there was no trend yet, I just go with pure price action). I want to take note of this for myself at the fact that I was able to quickly change side and execute my trade. I hesitated for a moment before I went long, but I recalled my own advise to never hesitate once my mind is made up so I pushed for the order. A little bit sad that I wasn't able to go 2 contracts with this due to the risk, I had to go in one and take my profit. Had I gone with 2 contracts, one would have banked 1.25pt and the other (with its stop at BE) would have caught the entire day's move (that's a potential 10+pt). I stepped away to make myself some breakfast at the orange circle. Came back and saw a missed trade with small enough risk to go 2 contracts and because I had already banked my daily +2pt goal, I could've set stop to BE after it hits 1.25pt and again, catch the entire day's move with a whooping 2 contracts. frown.gif

 

After that trade, there were no other signals for the market went into consolidation mode.

 

Positives of the day: Ignoring hesitation and overcoming self-doubt.

Negatives of the day: Breakfast timing

Note for the day: Need to rework PT. My entry long today was on daily pivot. Maybe I can ride it from pivot to pivot on my trades that occurs on these levels.

 

Goal for tomorrow: Continue exercising positives of today. Continue trading with the trend. Trades taken from pivots should ride to next pivot.

 

Untitled.png


Edited by JLC - 4/2/12 at 6:16pm
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post #356 of 524
4/2/12 at 5:45pm
Quote:
Originally Posted by JLC View Post



Now you're with trend! thumbup.gif


Well, it didn't work so I got out at 1.602 and I see what's going on at 6:00.

 

 

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post #357 of 524
4/2/12 at 5:48pm
Quote:
Originally Posted by JLC View Post

Recap of the day:

 

Points gained: +2.5

Total trades: 2

Winners: 2

Potential trade: 3

 

Today was almost perfect for me. First trade of the day was a nice down side scalp for 1pt gained and 2nd contract stopped out at 0.25pt for a total of 1.25pt. The chart below doesn't show it but 5min chart was a pinbar. After price reversed, I immediately went long once I got the signal for it (at this point there was no trend yet, I just go with pure price action). I want to take note of this for myself at the fact that I was able to quickly change side and execute my trade. I hesitated for a moment before I went long, but I recalled my own advise to never hesitate once my mind is made up so I pushed for the order. A little bit sad that I wasn't able to go 2 contracts with this due to the risk, I had to go in one and take my profit. Had I gone with 2 contracts, one would have banked 1.25pt and the other (with its stop at BE) would have caught the entire day's move (that's a potential 10+pt). I stepped away to make myself some breakfast at the orange circle. Came back and saw a missed trade with small enough risk to go 2 contracts and because I had already banked my daily +2pt goal, I could've set stop to BE after it hits 1.25pt and again, catch the entire day's move with a whooping 2 contracts. frown.gif

 

After that trade, there were no other signals for the market went into consolidation mode.

 

Positives of the day: Ignoring hesitation and overcoming self-doubt.

Negatives of the day: Breakfast timing

Note for the day: Need to rework PT. My entry long today was on daily pivot. Maybe I can ride it from pivot to pivot on my trades that occurs on these levels.



Nice day J. Mine was not good but a learning experience. I have to be more patient and wait on the trade to come to me.

 

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post #358 of 524
4/2/12 at 6:15pm
Thread Starter 
Quote:
Originally Posted by BobK View Post



Nice day J. Mine was not good but a learning experience. I have to be more patient and wait on the trade to come to me.

 


Patience is definitely key to trading. I think patience itself IS an edge. It lets us cherry pick our trades and go with the highest probability and lowest risk trade.

 

Forcing a trade will never get us anywhere. Plenty of opportunities to make money out there so letting some go is never a problem. There is fear of losing money and also fear of not making money.

 

The way I see it is: no trade --> fear of not making money --> forcing trade --> lose money

 

We find a reason to ask ourselves, why do we fear not making money? Then we can overcome this when we realize there is nothing to fear at all.

 

Emotion is a double-edge sword in trading. Too much and we can't trade with logic. Too little and we become mechanical and lack self-improvement. In the past I believed emotion should be eradicated from trading but what I understand now is that is it up to each individual to find the perfect balance between emotion and trading. Trading without emotion is too general of a saying IMO...I think the deep underlying message is to build a GOOD habit. We exercise habits each day with zero emotion.

 

 

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post #359 of 524
4/3/12 at 2:11am
Thread Starter 

Pre-market game plan. Gap down to those levels and its an instant buy

 

Untitled.png

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post #360 of 524
4/3/12 at 8:31am

Shorted 6B at 1.5977  Just woke up. Target 1.595 but I'll let it run if it does. Potential is 1.5834.


Edited by Bob Korreck - 4/3/12 at 10:11am
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