Edit: Pardon the title - my style of trading is better classified as "trend following" rather than swing trading.
Hello and thank you for reading! I am starting this journal with the intent of holding myself liable to the community in regards to my TF trading.
Although I mainly trade Natural Gas, I usually make a point of taking a trade or two on the TF during trending days.
My system is very basic and works on ALL instruments (for me) that are not too sluggish such as ZB. With that said, I try to read bare price action as much as possible and pick entry points with the help of my few indicators. Here is my setup:
Charts:
1 Minute
4 Range
10 Range
Indicators:
1 Minute - bare chart
4 Range - EMA, ADXVMA, Double Stochastics x2 (short and long term)
10 Range - T3, Double Stochastics x2 (short and long term)
Entry Methodology:
1. Confirm development of trend - usually I do this by watching the EMA on the 4 Range chart and T3 on the 10 Range)
2. Wait for a pullback - this is confirmed by divergence of short term stochastic from the long term.
Exit Methodology:
I do not set targets, instead I watch for trend change on the 4 Range. In other words, the market decides where I flatten my position.
Risk:
1 car, 15 tick stop. The stop is dynamic. I consult the technical conditions, and a lot of the times this stop gets moved in order to avoid getting closed out. Regardless of where my stop is, if I see the trend go against me on the 4 Range, I take my losses and get out right away.
Without further adieu, here is the trade I took today. Although it was a really good trade (IMO), it could have been better..
I was not happy with my entry. As always, I rushed into the trade without waiting for a correction. I could have bagged 70 ticks instead of 55 had I waited another 10 minutes or so.