(Minus 6 ticks)

1. 2 Longs





15min and 5min RTH charts showed a setup of a triple bottom.

2. My Brief Thoughts during the Trades with Zoomed-in Pictures (#of Trades: 2):

First Trade Long:


I was not thinking of a possible double or triple bottom. I was thinking of a possible bounce off of prev. day's RTH close. I did opposite trade of going long instead of short.



I got stopped out at my 20 tick initial stop loss.

Second Trade Long:


I remember that I wanted to stop doing opposite trades on range patterns, so I went long as intended.



I noticed price reached a previous high from the overnight session, and VAP (Volume-at-price) was building up alot there, so I exited.

3. Afterthoughts in a Nutshell.

I keep thinking that opposite trades work well for possible 2 legged patterns only, because I tend to pick the wrong timeframe for the setup, and end up in a bull/bear trap, and range/double/triple tops/bottoms are not good for opposite trades.

(0 ticks)

1. No Trades



2. My Brief Thoughts during the Trades with Zoomed-in Pictures (#of Trades: 0):


3. Afterthoughts in a Nutshell.
When the market opened, I let the professionals trade and stayed out, an econ report was at 7, and trump spoke at 7:14am pst, I stayed out all morning.

(0 ticks)

1. No Trades




Above chart shows the triple bottom from prev. day's close pattern.

2. My Brief Thoughts during the Trades with Zoomed-in Pictures (#of Trades: 0):


3. Afterthoughts in a Nutshell.
I started to get into the habit of incorporating prev. day's close pattern into the next day's open. I didn't notice a possible triple bottom until after the fact.

(0 ticks)

1. No Trades



2. My Brief Thoughts during the Trades with Zoomed-in Pictures (#of Trades: 0):


3. Afterthoughts in a Nutshell.
I wasn't able to read the market well today, so I just did demo trades.

(plus 11 ticks)

1. 3 Trades.





Above shows a possible opening downtrend from bear flag formed from yesterday's close.

2. My Brief Thoughts during the Trades with Zoomed-in Pictures (#of Trades: 3):

First Trade Long:


The 2-legged move from the open looked like it was over, and my confidence level was so strong that it prevented me from doing an opposite trade, so I went long as intended.



I was stopped out at minus 11 ticks, then price shot back up. The tick chart above shows my weak hand shaken out (this is not a bull trap).

Second Trade Long:


Price traded back up to prev. day's close, and was on 20EMA and near VWap resistance. Once it traded below prev. candle on 3min chart, I would have shorted for a bounce play, but went long for my opposite trade project.



Once price stalled on the VWap, and heavy trading occured, I exited with a 14 tick profit.

Third Trade Long:


I noticed a possible range trade on the 240min chart. Once 5min bar traded above prev. candle, I entered long as intended, no more opposite trades for range patterns.




Once price paused at a possible resistance level, I exited.

3. Afterthoughts in a Nutshell.

After looking back at today's chart, it looks like I should have made short trades instead of long ones. It seems like everytime I enter a trade, it has a 50% chance of going up or down, and having a good exit strategy is what matters.

(plus 11 ticks)

1. Long



2. My Brief Thoughts during the Trades with Zoomed-in Pictures (#of Trades: 1):



Went long for opposite trade. I would have went short because I noticed the tick chart was making a double top after a completed 2 legged move.




Above shows the double top in the tick chart.




I placed a profit target a couple ticks higher than prev. high from the tick chart.

3. Afterthoughts: Summary of September Project.

This completes my September Trader's Flip Project. This month's drawdown was $38.59, way better than my average of $200/mo for the past 3 months. I feel that I have developed my skills to focus more on traps. Even though the chart looks like a possible reversal, most likely it might be a flag in another timeframe.

Institutions are able to look at the accumulated stop loss orders. If I notice a possible good setup, most likely other retail traders do to, and most likely are placing the same stop loss orders as I am. An institution will notice this and might take out those orders to fill theirs, then allow price to drift off until the next setup. If a setup looks too good to be true, it probably is, and it might be better to enter opposite.