Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,147 since Jun 2009
Thanks: 32,651 given,
99,028
received
Posting about it and enduring is what will make you think twice about any mistakes made today should you be in a position of repeating them in the future.
Vovan, man, have I had days like that. I'm on a mini roll now. Learning, trading SIM, getting small gains, learning. I highly recommend EFT, which Bluemele wrote about. A chant I used last month was, "Even though I'm losing in trading, I completely love and respect myself." I only did it twice if I recall correctly. The result was a wonderful release.
The following 2 users say Thank You to HighRise1202 for this post:
First 3 trades took right at the open. Then trade #4 was nice short, but after a little move it came back and saw that it's switching to long but I let it took me out after almost 2 hours in a trade. Then I tried my ATM strategy for 2 contracts and it took me out with -3 ticks.
Today I was trying to trade pure price action because my method didn't give me a lot to trade this morning.
PA trading concept is little bit different from what I've used before.
First couple trades took at 5 RangeNoGap chart then switched to 5min chart. I always thought that on 5min time frame I have to use much bigger stops but today I could see that I could trade with stops smaller than even on 144T. I mean it was a different concept for entries and that made a difference.
Here is a summary and my trades( they don't make sense on 5R chart but on 5M they are too close to each other and it's hard to see them).
The following 3 users say Thank You to vovan348 for this post:
Didn't trade yesterday and couldn't trade this morning either.
I decided to take a break and learn little bit more about PA and volume. Didn't want to trade today at all but when I opened my charts couldn't hold myself and entered a couple of trades.
Got scared on both trades. First entry went up for 1 point and I moved stop to BE+1.
On the second trade I had target for 2 points it almost touched it but started pulling back on raising volume. Got scared again and closed one point.
Here are the trades and summary:
The following 3 users say Thank You to vovan348 for this post:
Took only one trade today. My SL was 4 ticks and original target 2 points. When it got really close to the target I moved my stop to +1point because it was pulling back up pretty quick. It did tough my target price and came back up. I'm pretty sure I wouldn't get fill anyway. Even with the small profit of 1 point I had R/R over 1:2.
I'm not gonna take any more trades today. I want to take it slowly and don't want to mess up my learning by overtrading. I think it's better to take it in small portions before I get used to it and start seeing it pretty well.
Thanks for sharing.
