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When you show your entries with red and green arrows, do you get in after a bar has closed in your trade direction or do you get in at where you think the trend line is without any confirmation? I always assumed that to be a confirmed trend line you need at least 2 touches on the line.
Whale watching was a bust....no whales, only spouts....oh well. I did get to see dolphins ride the wave the boat was making on the way back to shore...that was cool....wife and kid slept through that part though...I have pictures of them sleeping below decks....I think they were sea sick. lol. I was nervous at first, they were cool, then I got used to the pitching and rolling and started to enjoy the trip and then they checked out.....go figure.....
The rest of the trip was cool though. I got to meet another trader from the forum. Got a really good idea from him.....thank you sir...you know who you are.....ate at PF Chang's. One of my favorite places to eat....man those dumplings were fantastic! A nice day at the beach on Tuesday, laid around and did nothing for awhile....hard to beat sea air and warm sun for inducing laziness.....felt fantastic to just sit and do nothing.....well except think....and I thought a lot about my trading. Some take aways:
1. I do have an edge and I'm comfortable with it.
2. I'm ok with fixed targets....both smallish ones and larger ones....depends on market structure. wrestled with this for a long time.
3. Stops are best left alone.
4. I'm at my best when I trade small initially....
5. I must scale in.....press the winners.
6. Be more aware of the dominate trend. Make sure I don't fight it.
7. Its ok to enter with no confirmation. Just don't spend a fortune to find out if I'm right.
8. Limit the amount of information I take in and process to justify a trade. The more charts, the more higher time frames, the more levels I look at....all conspire to reduce confidence. Find the information I need for the trade and stop looking.
9. Do just a little bit more home work prior to trading in the morning.....save myself a few ticks here and there.
10. Sometimes you just have to go with it.....let my intuition be my guide....again, don't spend a fortune to find out if I'm right.
Also decided to start a combine next week assuming TST answers a couple of questions I have regarding trade and money management before I start. Otherwise it will be the following week or perhaps not at all depending on the answers. I do start a combine, I'll post those results here as well.
Anyway, a nice week so far, and looking forward to getting back to work tomorrow.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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