Mid Day Analysis:
Squat head&Shoulders? TLu break down. Possible target EMA50 @1107? over a few days or week. Hope I see a down trend ladder trade set up. Possible 20 pt swings?

Hi ZTrade101,

Just wanted to pop in and say "thanks!", good job on the posts and journal, and keep it up.

Has your trading improved as a result of this thread? My hope is yes, and I'm always trying to encourage others to start similar threads so they too can benefit. Thanks for being an inspiration to them.

Is the avatar picture you?

BTW, on your TMI post, yes that's a great revelation. Now the real trick is what you'll end up doing about it over time in the future. The allure of indicators is strong.... it's like the dark side.

Mike

Thanks Mike,

I feel writing something down helps. Writing it down and putting it out there so people can scrutinize it - That really forces you to do a better job. Especially if you get constructive criticism

Being on this Forum has been a total immersion in trading, something I had not done in a disciplined manner in several years. Having to post a journal entry and be honest? That has help the most in improving my trading results, like the rules I posted in #47

The avatar is me at Halloween - in David Bowie's Blue Jean makeup + I like the hat.

I woke up after the market opened and was upset I missed my sell point at 1131.75. Waited for a pause and went short @1125.50, with 4 tick risk. Too little, will use 6 from now on.

Never see this before. The DOM is missing rows, but the Cummulative DOM_Bands is still getting values.

I missed the 2 best trades of the day and took 2 that were losses, but fit my rules and are part of the cost of trading.

Should have shorted @ 1131.75, but woke up late and missed it. Waited for a reentry and used too tight a stop. Missed a Short 2nd trade 1117.50, then though I'd try for a bounce and everything looked good until major resistance @1115. Stuck to my rules covered at 1113.25.

Longer Time frame analysis: Market broke 1125 area and expect a test of the 1109 low or EMA(50) @1108.75

Gotta take every trade.

Today I identified 3 critical mistakes that keep me from have a profitable day:

1. Take all trades that fit your setup
2. Take more initial risk
3. Give the position a chance to make you $$$

I am not taking all the setups I identified. Will show chart examples below. When GomCHDA turns blue, Buy after a sell off.

Short when GomCDHA turn Red after a run up, especially if it corresponds to a point on the Range chart or Ladder (not shown).

In the chart posted earlier today I should have taken 6 ticks of risk, I have corrected this.

I exited a position when I was actually getting a 2nd Short signal (ala Al Brooks)@ 1117.25, I covered. Stop loss should have been 1118.00. Exit should have been the Yellow bar at 12:24 pm with a corresponding yellow bar on the GomCHDA @1113.50

Change in trading habit: Need to leave my initial stop loss alone for a longer period of time. I will correct this.

Bottom Line: Lost $$$, but if I make these changes to my trading procedure I will achieve my goal of being a:

Consistently Successful Trader.

do you guys succeed modifying the GOM recorder to save the market depth also?

Interesting stuff you've got here. Maybe I should start keeping track like this myself. Thanks for posting.

To everyone thinking about a journal - Just Do it.

Practice is fine, but to know if you really understand something, take a test that someone else grades. Trading with real $ is an example.

" To know and not to do is really not to know." Covey.