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Stopped out today -15. I did something different today by adding my thoughts to the chart as the trade progressed. Wanted to see if I could identify what I did right/ wrong . I have no opinion at the moment since the trade is fresh in my mind. Will look at it after the trading day is over. Feel free to comment if you see anything obvious.
Just noticed the trades are not visible on the chart. uhg... Its been that kind of morning. You will just have to trust me that I took the trade.
While I stated the way I trade this set up, which are generally few and far between, I am open to any suggestions and quite frankly I have 'found' (filter) something that will /may be of benefit at the same time letting the trade run its course.
The downside is a potential lower profit outcome as it may strike my profit goal while I am 'out', but can also reduce the potential of a full stop loss,which I don't need
The method would be simple enough. Using 4000 contracts range ,set up with SMA 8 and EMA 32; 32 being the 'resistance' level. I would close the position on the negative crossover (take profit)and re establish the position +20 pips. That could be a form of filter.I am going to give it serious consideration. Thanks.
I don't comment much on futures.io (formerly BMT) and hesitated being an "elite member", because I was concerned that various threads may 'turn my head'. However, one this is guaranteed.....there will always be little "gems" that can benefir ALL traders from time to time on this site.
I have to work on my exits. I bought the breakout down and the price went down and hit my price (see blue line) but did not get filled. I am a little too precise on the exits. On the one hand the channels I am drawing are correct and price is bouncing where is should but I have to learn to move it up a little in order to get filled.
I moved the stop down above the upper channel line. However, I now thinking I should have moved it to break even when the price was touched.
I am trying out multi charts because I am having issues with MBT and NT7 being stable. I am seriously considering moving over for my discretionary trading if I make it through this test period without any issues.
12:30pm ET (16:30 GMT) – Release of FOMC Statement
2:00pm ET (18:00 GMT) – Release of Economic Data and Interest Rate Projections
2:15pm ET (18:15 GMT) – Bernanke Press Conference, Q&A Session
