Here is a couple words bout my trading experience.
I started trading futures about a year ago. At first I was just watching charts of TF and ES and I was trying to figure out how it moves and tried to make some sim trades. I didn't even know about different indicators that are available at that time.
Then I started looking for any strategy I could use, so I started with the most affordable any easy to use strategy because I could find anything for free. I traded that way on sim for a couple months the switch to live trading and for about five months it was up and down for me. When I almost got all my money back on the account I lost all of them next couple days.
After that I thought this is time for me to try something different. I got on this forum and found a lot of useful information about different vendors, strategies and indicators. So I looked at Nexgen, E-mini academy and NFT. I didn't want to purchase any of them just because when you buy something you want to make it work even if you see that it doesn't (also free is always better ).
I found NFT setup the most suitable for me after taking their free 7 days trial. It's been about a month after I took it and I started sim trading it and tracking my Profit/Loss about two weeks ago.
I have one rule now: I do not take more than 4 trades a day and I think that if you see your setups really good you don't need more than 2-3 trades a day ( with daily goal 2.5-3pts TF).
I'll try to post my videos every day and I hope you guys enjoy it.
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This is My first video. It's just a recap I'm thinking about doing live videos later.
So I took my 4 trades today:
1 trade I lost 5 ticks.
2 trade I made 3.5 points. I got out little bit early but I think it's better early than too late
3 trade was kinda stupid but it is what it is
4 trade I thought that market is going to revers but it didn't so I managed to get out with +1 tick.
Here is the video. (Sorry guys couldn't get it right the first time.)
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After you upload about 10-15 vids all under 15 minutes on Youtube, then they will allow you unlimited length.
That short was pretty clear wasn't it!
If only every short sang like that one. Good management on staying in using the extension which was great.
I was thinking it was going up also after it came down, but if you look at the 4181 MACD's, it was forming a nice shoulder/head/shoulder and singing down. My wife is good at spotting those.
Great work!
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Today I had a hard time concentrating on my charts and paid for that.
I even broke my rule and took a 5 th trade. I was really angry with myself at the end of my session.
Here is the video:
Do not try it at home ( it's gonna hurt.)
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I'm on the East coast. I'm in the Maryland.
What about arrows: I have no idea. It probably has something to do with data. I use PFGbest and I've heard that their data is about 0.5-1 second delayed. When it hit stop loss it's usually a quick move so I think that 0.5-1 second could do that.
I watched your video right after I recorded mine and I was really surprised with your entries. As I said you'll see a lot of your mistakes in my trading.
I suggest getting an zenfire feed through AMP, Velocity or whoever, but PFGBest doesn't seem like one of the more capable brokers for futures. Just my 2 cents...
I saw Moscow and I thought you were able to change the time somehow!
I would try and get a separate instance running and run two T&S next to each other. Just curious on the differences. Using this method a second really won't kill you but it could hurt some I think. Your call.
Yes, I could change my PC clock but that is just against my nature for some reason.
It seems like I've got a bad habit getting in right after I got out.
I don't wait for a clear setups or do not see them.
I got a demo data from Zen-fire but I still get displacements of arrows. I think it has something to do with my settings but I have no idea how to fix it. Zen-fire data looks exactly the same with PFG. I looked back at my trades and it seems like it stated about a week or so ago.
Here is the video:
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Good video. I don't know why it is displacing. I have had it happen before, but I don't recall what I did or what the issue was?
Maybe posting on the front page would be worthwhile to see if anyone else has had that 'issue'?
I just figured it was your datafeed but there are some smart guys on the forum who probably know.
It was a tough day today for you on a day where I read it quite well. Strange how that works as my wife and I do that a lot. She has been trading VERY good lately since going back to the original 'NFT' method and is very excited.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
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Some advice:
- Why did you get out?
- Most people set their stops based on pain threshold. This makes no sense, set your stop based on price action. If required stop is too big for your pain threshold, don't take the trade at all.
- If you get in after just exiting, then why did you get out in first place.
Review your journal. It should list a reason for getting in a trade, and a reason for getting out. This should be documented immediately upon the trade being executed so you record true/accurate info, and not "after the fact" revised info to fit the situation.
When reviewing the journal, look for patterns behind your reasons for exiting trades prematurely or reasons for re-entering trades so quickly after exit.
5 ticks stop loss makes sense if you get in at the edge. It takes you out if you were wrong. My problem that I think that now it's gonna work and get it too early again. I should make live videos and then watch them after I'm done so I can see seasons for the entry.
I didn't do any good today again and I reinstalled my NT but entry arrows are still displaced. When I started trading I didn't realized that my MACDs were set to "close bar-true" and I didn't have live dots. I treated plotted dots as live. When I realized that it was too late.
Then I noticed that my MACDs by itself look different from MACDs at from the charts.
Here are the pics:
One on the left is Maximized from the chart and the right one is overlayed in the main panel with erased bars. So I had to readjust all of them again.
I contacted NT support about arrows displacement and this is what I got back
"It's possible to see the, but does not necesarily indicate a problem. Please see the following link on how trade executions are plotted.
What you can do is make sure your PC clock is synced to the correct time, but what you may be seeing could just be due to having multiple bars with the same time stamp."
I think that my PC time is about 1-2 seconds ahead but I'm not 100% sure (it's really hard to say). I couldn't find any information about syncing NT to PC time in "help" section.
I think I'll do better next week. I'm not sure if I'm gonna trade tomorrow or just watch the market.
Can you upload your template for the MACD window? I want to compare it to my own if you could. Or save it as a template and it is an .xml file that you can upload.
I will have to see the differences on my PC. Which one do you like better, maximized etc..?
Well I'm using a different MACD. It's made by FatTail also but I think this is a newer indi. It doesn't act like yours, if you try to use it with the same settings you have it's gonna look different.
There is a template and MACD so you can compare: MACD.xml
Looks identical. I just changed my look and also use the standard settings for the MACDBB.
Also, once you get an indicator to look the way you want it after you have changed it, then right click on the indicator settings table and choose "Set Default..." and then all the calls on that indi will match.
I know about setting default. I tried your template and adjusted a little bit to my taste and everything works fine. Even my arrows got back at the bars
Yesterday I was ready to shoot myself because nothing looked right on the charts.
Today I took 13 trades. I didn't feel like trading today and I've been playing with my charts first 30minutes of the market, then tried to place order and see the arrows. I've lost a little bit but I didn't care because I was just testing it.
Then I saw a couple setups and ended up with +2.1 points. Today is a first day after rollover but market looks very tradable.
The first profitable was a continuation trade but I got out too early. Then a trade in a circle was at 100% extantion from 4181. My wife was asking me something about trading and I showed her some trades on the way up with reversing and closing etc. Then she told that it's gonna go up and said that it's gonna go down from 76% so I took it long and we made a bet.
When I saw it got back to 76% with divergence I reversed and added a second contract because I was sure it's going down and I close when I saw that it couldn't break through 50%.
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Didn't do any good again!!!
It seems like I'm really straggling!
I used my first 3 trades at the same pivot and I told myself that I should not do it about a week ago. But that's only one of my problems. 4181 was strong to the upside but I kept taking short. I think this is a problem when you are looking for reversal trades it's hard to see continuation entries.
I think when you get in reversal trade you want to see it in your direction and trying to ignore everything else.
I took five trades again. Couldn't stop after 4. I use them so fast and then I feel like there is much more trading time and it's not fair to stop now.
I recorded live video today but I had to split it to upload on youtube.
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I have to disagree with you about this. If we couldn't recognize direction of the trend doesn't mean that it was a bad day. You don't have to consider it as a continuation trade. If you look at the picture you can see that you are in the area (50%) you got separations at all small MACDs and 4181 is strong to the upside. The only thing was going wrong 987 making a nice foot, but at the same time it can be considered as a support area at the upper BB. If you look at that all marked up it doesn't look like continuation ( I know that it is), it's just a setup for long from 50% retracement.
I mean I was looking at that foot and I thought it's gonna go more down. I know that it's hard to see it live and easy to say it now. That's a huge problem that we set ourself for short for example and don't want to see long. I think when that day come when we can keep our mind open for any direction we'll be much better traders.
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On the picture it's 23% bull flag but if you set your fibs from closer pivot it can be double bottom, 76% or 50% ( Whatever you like better). At this one we didn't even had a foot at any MACDs the only thing was a nice separation at 1597. But again 6 MACDs show you up and only one down but at support area. To bad I didn't take advantage of any of those setups. All I had in my mind was "short".
As we know 23% flag can go for 200% but even if you take you profit at 61.80% you could make 3 points.
I agree. Open up a 440 chart and it is even more clear where there were entries to the upside.
I do not see the 4181 as long as that had some nice separation early on and could easily bend over. I will take a deeper look, but hard to take a trade just off that anyways.
I was thinking today that it could do exactly what it was doing and that is why I did market speed-up after my trades to see where it was going.
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I couldn't trade opening today and didn't feel like making video.
I took 10 trades today. I don't have that rule about 4 trades any more because I was afraid to use them. I didn't want to use them when setup is not clear enough and then take a trade that much worse.
Today was a BE day only 2 ticks left from the profit. I knew that I had to stop after 7 trades and keep 1.5 point but I didn't.
Here are my first four trades
I knew that we are in the down trend but I wanted to get long and revers for sort at the mid band. When it reached MB I thought it's gonna brake through and didn't revers (my bad )
Here are another 5 trades:
After it took me out from the trade #4 I was trying to get short but took another 2 losing trades. Then I saw that price couldn't brake above 781.6 and I took short one tick below. Right after that it broke two ticks higher and went down. I closed it when I saw a slowdown and 100% was still far away.
#8 I tried to get long at 61.80% (didn't work) and #9 was 100% but it took me out and ran in my direction.
Here is trade #10
I took it at 76.4% on the pull back with divergence but it went to 89%. I'v been waiting for pull back but then decided that it's enough for today. And here are results:
I think it wasn't a bad day I just had to stop after 7 trades or take #11
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I had 7 trades and 6 of them were losing. I could skip few of them but I take them for educational purposes. I know that if I just watch market and do not take a trade I'm not gonna remember it. Too many trades is bad also because I cannot understand what I'm doing. I could be done with 4 trades or so because some of them were just stupid.
I just decided that instead of taking 4 stupid trades and stop trading I should take 8 or 10 but 1-2 should be right and then just try to make less mistakes. In the learning process I'm making a lot of mistakes and it seems like 4 tries is not enough for me. If I always stop after a few losers I'll never see how it should be right. If I don't know what's right where I should go? What should be my goal? I have to see more and more winning setups and try to remember them instead of looking just at losing ones.
Sorry just had something in my mind and had to let it out.
I had to split video again. I posted only 14 videos and I cannot post anything longer than 15 mins yet.
Sorry for a sound quality, I don't know what's wrong with my mic.
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Yes, your Mic seems like you are in a toilet bowl.
Good trade on that long. I stopped prior to that as I got a little wore out and already expended my trades. I am considering going down to 1 contract and just doing more trades then. hmmmm.
It is funny how you and I saw the market differently though in certain regards. You got a much later start.
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Well I'm trading 1 contract to learn where exactly to exit. When you scale half with some profit and loose on another half do you count it as a winner or looser?
I didn't finish watching your video yet. I didn't have enough time.
I just didn't feel like getting up early today. I started 10 mins after market opened. I like to trade opening but I think it's not a must to look at your charts before market open. Market usually looking for direction for a first 30 mins and then goes with the trend. Someone told me to make a couple points in first 30 mins and run but I feel like I wanna learn how to trade in any conditions. There is a reason for that. About a year ago when I was trading live with another strategies I would take a couple trades on different markets right at the open and run. It worked for four weeks and I was so happy. Then next couple weeks it didn't work and I didn't know what to do.
Now I'm trying to see positive side in any market conditions and find good setups. As you can see it doesn't work very good yet but I'm still learning.
No need to watch my vid as it sucked. I know, I made it. haha...
I just couldn't see it today at all....
Market conditions change, so sometimes it will trend first 30 minutes and other times not. What I have found (secret) is that NEWS events don't move the markets in the spring time frame, but as soon as summer takes over NEWS will start moving the market again. It has now happened 2 June's in a row whereby the market is 'slower' and when news happens it sped up.
When you were trading, velocity had picked up substantially! So, I think the point of this system is to just trade when things are moving, not SLOW SLOW SLOW like it does sometimes.
I don't count losers or winners. I forget about the trade the second it happens pretty much except if it was a good look or not and how many points it went etc..
Maybe that is just me, but I tend not to measure any longer, but some people do statistics, just not me. I used to have complex spreadsheets logging everything etc..
If you forget your trades next second then what's a point of taking it? When you took a loss you should remember it to try do not get in the loosing setup again. Same way with winners. Remember how does it look like and wait for the same setups.
I mean it's good to forget about losses when you trade live so they don't make you angry and do not affect your next entries, but after you done you have to go back and find a reason why it didn't work and try to avoid it next time. I understand that every setup is different but with time you can see more less similar conditions.
As I know you are a business man and you just said "some people do statistics, just not me". If you want to make living trading you should treat it as a business. You don't have to spend time to fill up a spreadsheets, NT can do everything for you. Just go to statistics and account performance. Look at the weekly monthly reports to see where you stand. How do you know when you are ready to trade live again? Sometimes you have a few good days a week and you think that you are good now but when you look at statistics that's not so great. How do you know how you are doing and what is your goal?
Simple. I go back live when I am 2+ points a day for 2 months at minimum. Preferably 3 on both. I believe I will know when it is time. Not something a number is going to tell me from Ninja Trader in my opinion.
I think there are just different personalities who find security in different ways. To me, money talks the rest doesn't mean much. I trade like I would with real money or at least I believe I do and I can also tell when I fall out of that 'feeling'. I did the other day when I clicked away for 30 minutes because I was angry etc.. haha..
I had some problems with getting data in the morning. Windows update messed up my settings and that was a reason for a bad sound quality yesterday.
So I started about 20minutes after market opened. I took only two trades today.
First trade. I got in little bit late on the trend. When it ran for over 2 points everything told me rally clear to get out, but i didn't wanna see it. It took me out with +3 ticks.
Second trade. After it hit 76% I saw bear flag and got short. I could get over 4 points, but I decided to take 3.5.
Today I did good with entries but not so great with exits. Just from those two trades I had potential for 6+ points, but I'm good with 3.8 also. I still have a lot to work on.
Had to split video again. First trade in the first and another one in second.
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Good job on that short. You called it earlier when you said it will probably go to the 76 etc..
I was just placing arrows at that point and eating my breakfast. I will start going in a little later as the best runs have all been a bit later lately. I did run that trade that you were on and I got I think 6 points or so out of it on 2 contracts and would have been knocked out on the 3rd when it did the deep retrace.
It is looking a lot clearer later in the day lately.
Took 3 trades today. 2 of them loosing and 1 winner.
I saw a signal to revers, but I think that's enough for today. Tomorrow another day.
My goal is to get 2-3 point a day for now and if I get to that level I might raise my goal. I don't want to drown in my trades. I want to keep it simple so I can concentrate on each trade and remember setups.
Still have 15 mins limit so 2 videos again.
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Good job! I was done trading by then pretty much. I did take the same short, but didn't get filled. I didn't feel as confident that it was headed down, and I thought there was more up so I was being cautious.
Thanks!!
You did a great job on that long. I took short there. Haha...
When I looked back it was pretty clear but I didn't see live.
On that short I was sure we are going down. And after I exited there was a nice setup for long but I kinda felt tired after that short. This a first time I felt that way.
Yes, sometimes your brain says to relax. As someone who comes from a world of too much too often, then I have to calm my mind down a lot.
Good you can listen to yourself like that. I didn't feel the same way as you on that short you took. I didn't like the 'area' that it turned around in and seemed just short of a major couple of areas so....
It wasn't in my video, but I put another arrow on bar before the breakout down. I would have taken at least 2 points on the first 2 and about 4 on the last one. It was a nice run.
That long wasn't as clear to me on my review. 4181 was definitely saying going up though, and I finally listened!
One of those days when it goes up,up,up.....
It would be much easier if I respected 4181 little bit more. I had 7 trades today and 5 of them forcing 4181. At my third trade I had my mind to go long but then I changed it to short. I have to remember that if short time MACDs show me short but bigger once show long it's gonna be a bull flag. But I always find a reason to go against it.
Looking back on my trades. There was no need and no setup for trades #5 and #6.
Would I go long just one more time it would be a nice day for me. I just couldn't relax and keep my mind open. I didn't have fibs to work with on the smaller charts.
We'll see how tomorrow gonna work for me.
Enjoy the video:
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haha... I think we ended up doing the same thing. I disagree that the 4181 looked long at first, but then it did look good. My wife can spot days like this, but I can't for some reason YET!!!
I thought about taking a long as well for a quarter of a second!
It was really hard for me to understand where market is headed. Maybe I should keep it more simple and do not pay attention to small moves and just look at the bigger setups.
I had 5 trades and made 1.3 points. The last trade could give me a bigger profit. I just didn't want to give anything back and got out too early.
It seems really hard to trade last couple days but days like this make us think batter and learn more. Looking forward to tomorrow trading and I think I could better today.
I think this is the right way to measure that triangle
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Today I had a couple orders on the market but didn't get fill.
So I had only one trade and I've 3.5 points from it. It took me out because of the news time and I didn't have anytime to move my target to 38%. I'm pretty happy with 3.5 and I would get scared looking at that pull back during the news anyways.
I've made my video as short as I could so it's easier to watch.
Enjoy:
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On my second trade I had to go long instead of short. I was just looking at bigger time frames and ignored small ones. I think that the best would be just skip that trade and wait for a deep retracement.
On my last trade I got out little bit early. I have to learn how to wait till it hits my profit target. 610 was showing me more down but I got scared again that it's gonna make a big pull back and didn't want to give anything back.
All I saw was just some separation at 233 and 144 that made me get out of the trade. I look at it like a poor trade management but I'm still learning and I think the most important is stay green for now.
So I've made 2.5 point and I'm happy with that.
Here is the video, enjoy:
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Very good trading and the obvious direction was short today and you stuck with it! I didn't expect that LONG when you got knocked out. From looking at it I don't fault any of those trades!
I didn't see the first short around 9:32 (I could be done after that run) and tried to get long instead. Then I got short at 62% extension which was pretty stupid to get in for 1.5 points potential.
The last trade I got out couple points earlier again. I just didn't want to risk a lot because 144 was really weak to the up side.
Over all I'm happy with 3.2 points.
Enjoy the video:
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A lot of channeling, long bars and jumping around. I had 6 trades and only 9 ticks of profit. I stayed in my last trade for 37 minutes and I had chance to take 3.5 points but I waited till it took me out with 2.7.
Hard day for me again. I didn't see some entries and I took some wrong trades, but it was hard for me to understand today's movements. I didn't see really clear entries today.
I recorded about 27-28 minutes live video but my mic didn't work for some reason so I've made a quick recap.
Enjoy the video:
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My head is about to explode after all these trades and I had to stop way earlier. I didn't have days like this for at least two weeks. I just cannot understand what's going on the market for last couple days. I missed couple opportunities I could make some profit and picked all loosing trades that I could find.
I think I should relax and wait for better setups because today it seems I got back to the bad habit taking trades on every pivot (only wrong pivots).
Here is the video:
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I don't think it is 'YOU' and this is the value of multiple people being HONEST and OPEN about the way they trade a certain system. I think the last two days were challenging for anyone trading this type of system. Could you have made money each day = of course, but these two days were a challenge in my opinion.
I didn't watch your video, but I could tell there was something wrong with today's action and luckily didn't get hit too badly.
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To be honest I don't know. My eyes were fogy, I didn't see anything and couldn't think straight.
I new that it's gonna be tough day again and all I wanted to make 1-1.5 points, then just BE, and then my brain got off and I just kept clicking. I know that it would be much better if I just left after 4 trades. I could even menage to BE even or be a couple ticks up but I didn't stop. When I took last couple trades I could already feel some pressure on the back of my eyes and my brain maybe worked at 5-10% if not less (just to keep me alive so I can keep clicking )
I just want to relax now and try to forget about today so it doesn't effect my trading tomorrow.(I feel like crap right now)
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Yes, I suffer from the same. Except that I DO let it affect my next days trading and next weeks trading... haha...
I used to trade longer runs, but days like this have me 'on the lookout' which they shouldn't because these days aren't that common.
The retracements and movements were stressful to get in on! Not your fault, just shitty market condition, but the thing I wanted to point out was that you were doing the same thing I do. MUST GET BACK....
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My first trade seems like a mistake, got in too early on second one and it took me out by a tick. Then I didn't see short setup. Then I got chopped in sideways. It seem like I'm switching to zombie mode when I take trades to fast one after another one. I need a break in between to keep my mind clear.
Then I took another two trades but not a lot of profit out. Trade #7: could get in much earlier and pull out more profit but I wasn't sure about first signal.
I could get out at 62% on my last trade and be a couple ticks up, but I don't want to get out to early and I want to learn to let it hit profit target before stop loss.
I still think that today was better than yesterday for me!
So another negative day but the most important thing is to keep the head up and do not let it take me down!
We have to loose before we win!
Enjoy the video:
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No! I just took a break and trying some different indicators to help me with decisions. So far no luck.
I looked at today's market and I was really confused. It was jumping up and down.
That's what I thought, I have to stick with one thing and try to get good with it. I spent about 10 hours every day testing other things and my head is about to explode. All indicators work if you know how to use it, but you need some time to make it work for you. So no matter what you are using you can make it work.
The only thing I wanna keep for now on my 144 is OBV for extra conformation, but it can cause some confusion also.
I think the most important is to get better with MACDs and try to see patterns.
Tomorrow I will get back to NFT setup!!!
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The key is consistency and experience in my opinion. You can have a bad week, a bad month or even a bad year and still be a good trader. Of course, the key is to limit them to bad 'days'.
I would take the OBV off and just focus on taking or looking at less that what we already have. Price action in my opinion is the best way to go when considering adding an 'indicator'.
You are good at following the guidelines. Something I was good at before until I decided that I didn't like to be 'wrong'.
Just your sim trades the last few weeks leaves you more profitable than 99% of traders I would bet...
It didn't wanna move for the first 50 minutes. I took 4 trades and still -3 ticks. I thought to wait for the price to break out of the channel when I opened my charts, then I got in anyway. I wish I would stay out and didn't take first two trades.
The last trade was really nice and it did hit my profit target and even moved higher. I got out too early with 5 ticks. I saw pretty clear bull flag at 377, but just the way market was moving before I wasn't sure if it's gonna move any higher.
Here is the video:
I did take OBV off.
I totally agree that price action is the most important in trading. I just wanted to make it more simple. I tried another method of trading fibs without any other indicators. After few days of testing it worked very well. I think it was 1. +550 2. -100 3.+800 4.-60. But then one day testing it at replay I got -500 after first 3 trades because stops are bigger and I think that's not the one I wanna use. The strategy is trend following and works great in the trend, but using in the conditions like this early morning would chop you in a peaces.
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I can't believe you were going long! Nice! Just missed the pivot that would have kept you in. I couldn't find a good pivot w/ a small stop, so I didn't go long. What a run up we are having without retraces.
Tough day for us all I think unless you had big stops.
Something is up w/ the market. Conditions have changed... I feel something coming.
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I've made 3.1 at the end and I got out because I was very tired by that time.
I traded on Friday,but I didn't record it. I had 23 trades because I couldn't control my emotions and got very angry at one point and that leaded to clicking and losses. I'll make quick recap today.
Here is today's video:
Don't worry your monitor works fine that's just my new B/W theme
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This a market recap for July 8. I had 23 trades and got down -8.5 points and got 6 points back from the last trades.
Anger is my enemy and it's very hard to fight back. I didn't watch my last trade all the time. I just left my charts open. I've been reading a book and look at the charts once in a while.
This is a video that shows you what you should NOT do:
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I just cannot control myself in sideways market. I couldn't see sideways before and I thought that if I can see it at early stage I could void some losing trades.
Oh well. Now I can see it but I still take trades one after another one.
Another thing, was poor management. Even with those two winning trades I could stay in green if I managed them better.
I hope I will learn how to control myself sooner or later. Better sooner.
Vovan, please don't beat yourself up...actually this day is a very good day. Allow me to explain. You've been just one ball of emotions trading throughout the day...until your last trade.
Your technical analysis was spot on, "downward wedge" breaks up. Once the price action broke to the upside and you took the trade. Your decision was correct. Your entry was practically a perfect entry.
If you want to know, your subconscious took over this trade...you needed to be emotionless or at least less emotional. So you had one eye on a book and another eye on the market. Come on, do you expect the get 5 pts initially in 2 seconds ... you did the right thing giving the market TIME to move...5 to 6 pts.
You ended the day with an OUTSTANDING Trade. And that's the type of trader you are...not the other previous trades with anger involved....ask yourself, where you emotionally angry in your last trade? I don't really think so.
Try trading your indicators...that's why you have them...don't try to out guess them and you'll be surprised with the outcome...remember, you didn't out guess the downward wedge...you waited until it told you what to do.
Just my 2 cents...I know, it's not worth much as the dollar plunges.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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I tried to trade using just Price Action without any indicators.
I had two trades today before news came out and I'm gonna stop for today.
My entries probably don't make any sense at 144 chart because I've been using 440 for entries.
Here is result:
I had chance to get 5 ticks more at the first trade and another 1 point on the second one but I was hopping that it's gonna break high/low but it didn't and it hit my stop in both cases. I had a long entry for third trade but I was short at that time and all I could think about was to go lower.
Over all I'm happy with those trades. It was quick and profitable.
Yesterday I tried to trade price action also but I didn't have rules setup for entries and I used 144 for entries. I would keep taking trades with 5 ticks loss in the area until it works. Of course it didn't work because I had about 5 loosing trades before it goes in my direction. So here is result.
I ended up with -7.8 but what was positive in my trading that I still could find some good areas and from -17.9 I got back 10.1. I think that was hard do not make money yesterday from that 20 point run down.
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Good trading today. Tough chopped up day for a bit, but you did pretty good.
How are you figuring your PT's, just a pullback with trend break right?
I should have taken a break today. I would have taken one of those shorts.. My own fault, but I am getting better at the possibility of taking one of those at least!
If you mean PT's "profit targets" it's should be at next major S/R level but I didn't have any so I tried to use fibs.
If you asked about entries then I just wait for weakness on the pullback and get in with the trend, because it was very nice and strong down trend.
I could menage some of my losers to BE or +1, but it's hard for me to make that step because I think it might work out. I know that as soon I start hoping it doesn't work and stop me out.
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It was a nice day, BUT one without a major retrace until a long time coming. Perfect for a trend trader. These last few weeks have probably been a dream for most trend traders...
I like trading with the trend, but I get confused at areas of S/R. I cannot see if it's gonna break it or retest and continue with the trend. I need more time to learn it. I can see it when I do historicals, but it's hard for me to see it live.
I note a lot of things from historicals, but it's hard to remember everything and use it in live market.
I personally believe it changes with time. Sometimes it will react or move a certain way, then it will do the same thing again and again and then STOP. It won't do it the same way for a week, month or several months, then all the sudden it starts behaving the same way again.
Just my opinion, but like today, to me it was squirrely compared to how it has been the last couple days.
Yesterday I woke up around 5 am and couldn't sleep.
I practiced at 6E for a little bit then went back to bed.
So I missed the opening and got back to market around 11:30.
I had 5 trades with two contracts. I entered both at the same time and exit differently. Some of them were just scalps for a few ticks. Here are my trades from yesterday:
Here are results:
I couldn't trade opening this morning today again. So I had one trade after 13:30. I saw double bottom first and then we broke through, but weakened right away. So I entered two contracts long and first target was couple ticks below of last high and second one was at 828.00 below S/R level. It didn't reach second target by 4 ticks and reversed.
Here is my today's trade:
And here is summary:
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The first one was really stupid. I don't even know why I got in long. I just saw weakness to the down move which told me that it's ready for retracement. Would I play it right I could make about 10 points.
Second trade I got with the trend but I took only 4 ticks on the first part. reason for that was price moving up with rejection for lower price. I thought " I finally got entry with the trend and seems like trend getting over".
I gave little bit more room for a second part. I had profit target set at 805.9 but it reversed for pullback few ticks before it and I just moved my stop too close to get out.
Here are my trades and summary:
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I used to have days like -10 points. Actually I had 1 day like that! In February and I have had a few at -5 and a several at -3 etc.. for some reason, I don't recall any -4's...
I didn't seen the long at all today, but not sure on how you are trading these days. The MACDBB's were on the rail heading up and I guess it was clear. BUT, I expected short I guess so that is why I made a few gifts myself. I need to trade what I see!
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I'm not really upset with today trading. I don't know why. I've been more upset with 2.5-3.5 points loss a couple weeks ago.
The good thing that I didn't just click it with anger. I could keep myself calm and could still analyze market movements.
For some reason today it didn't break out at the fourth swing and it did at sixth. I don't know what's up with that.
Another thing I was paying too much attention to 1 min chart instead of consentrating at 3 min for most of the time.
Sure you saw only shorts because you are a counter-trend trader. You are looking for any chance to get in against the trend. In the trending day you get chopped up, but it works very well in the ranging days.
I'm pretty sure that I could do better today, but I'm not a pro and I'm just practicing to make it work and I'm sure I can make it sooner or latter. Everything takes time and practice.
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I traded that way on sim for a couple months the switch to live trading and for about five months it was up and down for me. When I almost got all my money back on the account I lost all of them next couple days.
). 
and adjusted a little bit to my taste and everything works fine. Even my arrows got back at the bars
) 
3.5 
and I would get scared looking at that pull back during the news anyways.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
