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Hi Everyone,
My chart templates and screenshots are attached below. I plan to start posting these trades daily for accountability and so I can have a place to look back and see how I did. I hopped on the bandwagon and switched from ES to ZN because its slower for me and each ZN tick is worth more than an ES tick. Please feel free to comment/criticize my trades at any time. I typically trade when both the 4 range and 11 range confirm in the middle of a trend. I scalp at the open, shoot for 3 ticks, and I am done for the day.
In today's trades I had a 5 tick stop and a 3 tick target. I hate having a stop that's big so I usually move it quickly to reduce my risk of loss. I am also considering whether to use a 7 tick target at the open. In both my trades this morning a 7 tick target would have been fine. Other days I have seen where you have to hurry and hope for only three ticks. It just depends on the scalp.
In the first long I got a fill at 5:26am PST and then when price moved two ticks long in profit, I moved my stop to breakeven. Unfortunately I got stopped out at breakeven and hindsight shows I should have moved my stop a tick below breakeven so it could move in the direction of the trade. I am always ok to get out at breakeven though to look for a better entry.
In the second trade, I saw that price was pushing down fast so I filled right where price was leaving the Eco blue area -10 zone. I got caught "price watching" and forgot to move my stop closer to breakeven as price moved profitably but the target got filled so quick it didn't matter. This trade could have easily been 7 ticks I think because support was still way off.
In both instances the Real stats were all blue on the long entry and all white on the short entry. You can't see that on the screenshot.
I think the idea of "accountability" is very good !!! I know that my participation in the "All you Need" thread really made me focus. Plus.... knowing that I would have to post a chart and show my trades to the world.... well ..... I really didn't want to look like an undiscipled moron!!! So I have benefitted greatly.
I am looking forward to following you on your new thread.
Honestly, I think that the best way for all of us to improve is to show a little more vulnerability in our charts and trades. That is why I love your thread and this forum so much in general. There are other forums out there where it seems many traders would prefer not to share their "secrets" in case they might lose their "edge." As a result, some posters speak in riddles leaving you wondering whether they really know what they are talking about and degrade others to elevate their self-perceived expert status on a forum. I don't know this as a fact but I suspect many ideas have been tried soo... Share what you know and be honest! That way decent traders will continue to visit this forum and everyone will benefit.
