A paint dry day for trading, NO FEAR.


Trade 1: got the buy signal. slow day. got the OB arrow. moved up my stop. bingo. NO FEAR but not dumb.


Trade 2: slowwwwww, got the buy. failing trade ............. bailed by writing a ITM call for a very small profit.


Trade 3: REAL SLOWWWWW, trade went no where, but it did a little, a little later for nothing. Bailed with BE+1.


then, rollovered the option to next Friday for another $0.50 from trade 2.

one trade for the journal. The NQ: per the chart: I didn't like the look of the chart, I simmed the a trade in the middle of the chart which failed. The PRC turned up and long scalps showed in the new environment with green bars in a blue background. When the RMI was about to break above 70, I placed my stop (bracket order) on the price ladder and bingo. Everything looks good, I get the OS red triangles before the OS arrow and the trade starts to fail. I had been moving my stop up to BE, but my target order would not slide down to the current price to LMT me out, so I hit the close position button and out. The trade is in the box. Not seen; after this trade in retrospect there was another long scalp and I tried to sim a short which failed. Basically you have to anticipate the RMI breaking into the zone (70 & 30) with your order; that's why I stop myself in beyond the bar; if I get stopped in then price continued and the RMI broke into the zone. If the RMI reverses, then the scalp is probably over. If the Laquerre and/or Schaff reverses the trade is OVER.

the trade


I made one trade today. It was not the best trade being price was at the bottom of the channel. So the RMI reversed on me and my stop at the red arrow screwed me with slippage executing at the yellow arrow.


I made this sim trade, successful after getting burned on the last.


I want to filter trades, so I started using two charts. Trade the two range within the four range.

the trade


with the failure of yesterday's live trade; I decided to scalp a trade because in the shaded area you can get a burst in price. I was late on the trade with slippage, but it was successful.


This is an example of divergence and Laquerre execution points:

the trades


I started with a sim, It was before the shaded area as I was stopped into the market. I just work the protective stop and the target stop lower along the ZLEMA. I was stopped with the protective stop.

Another view with two charts.


I do not know what happen to this live trade. If it was slippage or the price ladder jumped. But I got a bad fill at the bottom. And when price turned I couldn't get my protective stop low enough, fast enough.


So I decided to take a scalp on trade 3.


And trade 4, just grab a scalp.

It was Friday rollover day. I just did a sim trade.



I do like the twim Schaff because it talks to me when matched to Price Action and the ZLEMA. I like to trade the 2 range, but look at the 4 range.

On Monday, I find that it is difficult to get going on the trading front. I think I need to be like a baseball pitcher, who throws in the bullpen to warm up, I need to sim trade from the start of the session to warm up. I sim trade to win like live trading, so I am picky about trades. I should think about it as a trading bullpen and just throws some trades out on a setup cue.



Not warmed up and late to the party, I was working other accounts. I took a sim trade.



I do watch the 4 range.



And I followed the rally in the NQ.

Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

Tiberius 

Yes the PRC does repaint heavily. Historical worthlessness. I have been using it as an at-the-moment reference for price and how price reacts to it.

I did the same with it, immediate visual, useles historical. It curves in your direction as confirmation, and IF price reacted favorably, the edges did hold some little mental magic.