Daytrading the mini-Dow - Page 20

Nice trades guys!

Market offered me nothing so far today.

Typically I would fade these gaps but the range was too wide so I passed on it.

Recap of the day:

Not much action for me today after the gap and move down. Orange circle was a trade that I didn't see and missed. First trade taken was with trend and nice location with nice action. Initially, I had PT at previous low but I decided to trail it after 1pt in aiming for the weekly pivot. It didn't reach it and turned back hitting my stop giving me +1.25 trade.

Second trade taken was same spot same logic. I decided to go two contract with this and took one off at +1.50. The other one stopped out at initial entry.

Overall +2.75 for the day.

Positive of the day: Deciding against that fading the gap. Trading with trend.

Negative of the day: Got greedy with first trade, should've taken profit at swing low which would have net me an extra 2pt.

Goal of tomorrow: Continue monitoring PT performance. Pivot to pivot trade.

Quote:

Originally Posted by BobK 

 

Isn't it funny that we look at the same stuff but see it differently or in some cases I don't see it at all. I just decided Sunday to concentrate on 6A, 6B and 6C and 6B has been running good for me so I'm just going to stick with it until it max's out. If it can clear 1.59 I could see 1.60.

/6B is a nice instrument to play...one of my favorite when I started

Game plan for tomorrow:

Going into tomorrow there are two significant levels that I will be watching for. One is a buy around 1387 - 1388.25. Beautiful confluences of Monthly Pivot, Weekly S1, and Daily S1.

On the flip side, a sell is anticipated around 1403.25. Again, confluence of Daily R2 and Weekly Pivot.

Good morning everyone. Got my fill at 1388 sl @ 1386.75

one out at 1391.25 +3.25

2nd out at 1392.75 +4.75

couldn't ask for any better trade

the market has been generous

Just got punished with a -1.25 trade

Here was my chain of thought initially:

Market put in that swing low too early....it was less than 10min after open before that low formed. No way we will see a reversal worth trading anything soon. In fact, trend and momentum is most likely to the upside.

Then the incompetent trader came in:

omg double pinbar at confluences of pivot and 50ema and gap has just filled. sell!

Incompetent trader won.

At least I was able to get out with relatively small loss with 1 contract.

Quote:

Originally Posted by jbrand1 

Perfect trade from S1 on the way back to the daily POC.  Really was wondering who nailed the 88.xx entry besides Ichi, great job man you really are in a groove.

Thanks! I still got a long road before getting to ichis level

Recap of the day:

Great trade at the start of the day as depicted earlier and followed by a trade to ruin my good day lol. Nothing much to recap here except a trade I missed. I wasn't able to get home from gym before 10:30am and missed today's golden moment on it. Consolidation among confluences of resistance. Most of the day was choppy...not surprising there with three day weekend coming up.

Positive of the day: Followed through with last night's planned trade for today. Traded from pivot to pivot.

Negatives of the day: Took a dumb trade. Followed a rule but ignored my environment.

Note of the day: Environment is KEY.

Goal for the next day: Trade trend. Trade pivot to pivot. Stay away from chop. Pay heavy attention to highs and lows and time of formation.

Have a great three day weekend guys!

Quote:

Originally Posted by Datemike 

so you have is displayed not to show afterhour-premarket data? why is that

i decided to remove them because they no longer mean anything to me as far as scalping the 3m charts go. also, having the globex session displayed will alter my pivot points which is a huge factor. besides, i can never wake up early enough for pre-market anyway here in west coast

however, i do have them displayed on my 1hr chart that i used to gauge longer term direction.