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No capacity of looking for further charts and possible re-entries in my mind. It messes everything up again, but when I'm in my safe space and my family can't harass me anymore, I'll continue where I've ended. They've destroyed already so much, but I won't let them take away trading as well!
Can you help answer these questions from other members on NexusFi?
Moved stops in AQUA and HRB
Try to do at least a bit of reading. Finished Chernow's Grant biography today and started The book of Daniel Drew. I love that era of the Gilded Age and how it all blends together seeing it through the eyes of different characters of that time when reading the various books. When I read a book about Gould's and Fisk's Gold corner last year, I got an entirely wrong impression of Grant. Now knowing his story, I realize what an outstanding, great man this was!
No stops to move.
Working on a new approach to my methodology. I think I'm in the process of identifying a core-problem I've had for the longst time. I feel like I'm merging the wrong trend-sizes together. My suspicion is, that my large and small trend are basically the same size and just more of a different form and I'm generally digging myself too much into the chart and lose sight of the bigger picture.
The plan I'm working at, is returning to the MES, but this time with a M10 and M60 chart, maybe using a different type of trailing stop tied to candlesticks and also taking profits at a specific point if reached.
Moved stops in SDF-IBIS and AQUA.
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That's a scenario I'm trying to look for as I'm developing my new approach.
Crudoil is in a, what I consider pretty favorable, spot for a short right now.
60min MCL
I consider this as a valid downtrend which is far in its regression, hence I'm expecting it to turn downwards again soon.
10min MCL
Now I intend to look for a entry signal on the 10min chart. I'm not sure yet what type of entry signal I should take.
I intend to make a rule for how much the pullback has to be at least for starting to take signals. I think of a minimum of 40% or 50%.
I'm not trading this yet, since I don't want to move too fast and really want to put this approach on a solid foundation. I'm already so sick of all this half-assery. Somewhen something has to work out in a way that I'm able to trade this without getting lost somewehere down the road.
One of the questions I'm asking myself: Is the downtrend now broken, or is it just a smaller uptrend in the regression-arm of the still intact downtrend?
I tend to see it as broken, partly due to that it would fit the daily-trend, which is upwards, better.
What I'm learning as well is, that there are 2 types of trend-breaks. An "evolutionary", which would be this case here, and a "radical" one.
Theory says that in an evolutionary break, trend-traders tend to stop out and turn their position and in the radical break, they tend to stop out and not open a position in the other direction.
What I'm thinking about is the statement: "It's not about which time-frame you trade in, but how much of the foregoing price-action you take into account."
What I think I start to realize is, that I always had a false understanding of with how much risk I can make how much reward in a certain time-frame/trend size.
I thought that I can make on a small time-frame with lets say 5 contracts over the period of a month more money with less risk, than with the same amount of contracts in a higher time-frame over the same time span.
But that's a wrong assumption, which I think caused wrong expectations and unhealthy confusion.
