As the title states this will be all about Price Action trading I will be sticking with the ES only.
Reason for starting this journal:
The past 2.5 weeks have been by far THEE worst days of trading for me in the past 6 months plus.
Few reason for this(not to make excuses) -
Every spring I get tons of migraines and feel terrible for about 1-2 months depending on the weather
Mind is on finding a house
and the biggest one is i current trade at work and have an extremely hard time to getting in my "flow" due to the fact i manage a handle full of guys and they are in and out of my office through out RTH.
IF any one has any ideas how to work around these let me know cause ive exhausted all options that i know.. and i hate excuses i wouldn't list these if they weren't huge issues.
Issues continued : is the past few days i have not been journaling my trades/taking pictures.
Due to -
Being busy
large losses
distracted
not wanting to put the effort in because of all the frustration
Major issues during trading time-
Trading more then 1-2 contracts
Trading to many options
Trading to many types of charts ( 4500 tick,900 tick, 125 tick ,5 minute, hekian ashi, renko )
Getting frustrated and trading a 10 lot ( example )
Getting candle drunk - i call getting candle drunk when i start to focus on the candles instead of the support/resistance lvls in which my entire system is based off of ( or focusing on the trees instead of the entire forest )( i forget who said that if it was you tag yourself!)
Rules:
Trade 4500 tick chart
trade 1-2 lots MAX
Map out previous day Open, High, Low, Close for RTH by 9am est
14 EMA on chart
Swing indicator ( for "forest view " trades are not taken from solely based off of this)
Entries
are either a bullish rejection candle/bearish rection candle at/near the 14 ema while being as close as possible to the previous support/resistance lvl
once in trade t/p goals for 2 lots - 4 ticks and 8 ticks once the first t/p is taken out the s/l will be moved to break even.
1 lot trades are taken when the s/l is more then 6 ticks and will be a goal of 1:1 ( 7 tick stop then 7 tick t/p BUT need to check first on chart with rule function if that is even possible ) S/l will be placed under swing lvl as long as s/l does not break the 1:1 .. IF so trade needs to be skipped
Exit -
1) signaled out by a rejection candle of support/resistance lvl
2) price moves to s/l
Trading time is 930am est-12 pm est
max loss is 650
Goal is 4 2 lot trades a day
Will be taking trades with the trend no reversal trades, price needs to be making HH,HL,LL,LH to be signaled in for a position
Range days-
( my worst day!!)
Range days are determned after 30 minutes of trading, a blue box will be placed around the bulk of price and will be buying below and shorting above when properly signaled in when close to the previous highs and lows.
only trading 1 lot during range days and will be only looking for 1 point, if s/l is more in 4 ticks trade needs to be skipped.
On screen items-
Daily chart of the ES showing year high/low
Ninja trader market analyzer showing vol/high/low/percent change in/points change ( ES/NQ/YM)
End of day -
Screen shot will be taken of all trades on 4500 tick chart
all trades will be logged into current excel sheet
weekly and monthly trade log will also be updated every Friday and the last day of the month.
I feel like i am forgetting something but need to jump off here for a few, there is more to add to this , feel free to critique that's what its here for.