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NQ-nalysis

  #411 (permalink)
 
Chippstrader's Avatar
 Chippstrader 
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Watching now..

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  #412 (permalink)
 
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 tturner86 
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chipps1983 View Post
Watching now..

I wouldn't be selling yet...

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  #413 (permalink)
 
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 Chippstrader 
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chipps1983 View Post
Watching now..

I am done for today. Happy Friday. Will Come with a fresh mind on Monday. Meanwhile will create my journal and my trades so far.

Thank you Turner for creating this thread and to Big Mike for this forum.

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Chipps
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  #414 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
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chipps1983 View Post
Watching now..


tturner86 View Post
I wouldn't be selling yet...

You had the right idea, just wrong risk.

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  #415 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
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chipps1983 View Post
I am done for today. Happy Friday. Will Come with a fresh mind on Monday. Meanwhile will create my journal and my trades so far.

Thank you Turner for creating this thread and to Big Mike for this forum.

The correct risk, would have been above your trendline.

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  #416 (permalink)
 
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 Chippstrader 
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tturner86 View Post
The correct risk, would have been above your trendline.

Thats correct. I took risk that I could offer for today. Also, I didn't wanted to give profits of my weekly earnings and on last day. I am waiting for my profits to grow since I more intrested in positional trading following EMAs and trendlines.

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  #417 (permalink)
 
tturner86's Avatar
 tturner86 
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chipps1983 View Post
Thats correct. I took risk that I could offer for today. Also, I didn't wanted to give profits of my weekly earnings and on last day. I am waiting for my profits to grow since I more intrested in positional trading following EMAs and trendlines.

If you weren't willing to take the correct risk for the trade, then you shouldn't take the trade. Also P/L of the day, week, quarter, or year shouldn't affect your decisions or reasoning behind the next trade. Not saying that it doesn't or won't as we are all human. But we have to work away from worrying about the P/L. It is better to trade for process then profit. Because if you have the correct process you will be profitable over time. Which is what really matters in the end.

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  #418 (permalink)
 
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 Chippstrader 
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tturner86 View Post
If you weren't willing to take the correct risk for the trade, then you shouldn't take the trade. Also P/L of the day, week, quarter, or year shouldn't affect your decisions or reasoning behind the next trade. Not saying that it doesn't or won't as we are all human. But we have to work away from worrying about the P/L. It is better to trade for process then profit. Because if you have the correct process you will be profitable over time. Which is what really matters in the end.

Thank you for suggestion. I will definately keep in mind that it should not affect my trading decision.

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  #419 (permalink)
 
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 tturner86 
Portland, Oregon
 
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chipps1983 View Post
Thank you for suggestion. I will definately keep in mind that it should not affect my trading decision.

We all go through different stages. Even professional and successful traders still face the same issues that we do. They have just developed a way to deal with it, and process information correctly to help them manage their trades better.

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  #420 (permalink)
 
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 tturner86 
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I am waiting to see today's close. Doji's or small down days have lead to reversals back into the range.



Tested the 20 EMA on the daily chart, we hit the upper TL on my hourly.



Lows of yesterday and today are above the 5 SMA an near the top of the channel.

My overall bullishness is turning neutral. Today's close will determine my outlook for next week. I will most likely close my current trade at the EOD today. Current stop is 4212 below Y-Low. I believe if that is taken out then my up idea is in trouble.

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