mea culpa, mea culpa, mea mÃ¡xima culpa

March 2nd, 2012, 08:59 AM

v2
i dont want to keep making new threads so im just going to keep this one going and have it evolve as i evolve. you can see where the 'latest' change has happened starting with post:

mea culpa, mea culpa, mea máxima culpa

looks like we have buyers at the lows here on the ES.. she fell outa bed here over night on little volume and she looks to be entering back into a channel on the 15m..

here is the 5m view:

as of writing this she took another dip, but is met …

moved even to even less indicator based and starting using past knowledge with VSA/Wyckoff/Weis principles. something about those principles just feel right to me. when learning them and applying them i have that 'gawd this just seems so obvious' feeling and thats good in the trading world when things can be very confusing. i am taking very few trades now persession and it now feels like each trade has purpose and context behind it. not about what the indicators are doing.

v1
My new 'system' that ive been working on is one that has been simplified and tries to obv focus on price more. i still do feel that under certain conditions there are repeatable patterns on a couple indicators that i do watch.

every morning i try to draw out and wedges or channels on the higher time frames of what im trading which is the 6E. i find that these areas are nice areas to catch setups which are focused on divergence. watching times of the session always helps as well. so trades around the hour or half hour(not as much) are areas for most markets for confirmation..

some indicators i have are:
-VWAP
-ichi kijunsen/tenkansen lines
-modified D9PO
-modified CCI

i am also working on some small scalping setups that allow me to pick up some ticks while there is no setup, or to allow me to add on to a current position in the future.. these are not part of the plan yet, im just playing around with this idea atm.. along with playing around im playing with the TF to see if i can pick up anything else while the 6E is dead..

also, my setups are based off of a 5 betterrenko chart but i do have a 10 betterrenko chart off to the side for more information. i use the DX to see how it acts during the day for more confirmation/failures..

all of this is subject to change as the plan is to reduce chart overhead over time..

March 4th, 2012, 08:01 PM

here are my charts:

6E 5betterrenko chart

and here is my 'information area' of my work space.. the top one is the one where i show really long term data and draw my wedges and channels from and the bottom is the DX chart that i follow..

March 5th, 2012, 02:05 AM

here is what im seeing longer term and may come into play today:

6E is in large down channel, but in an up channel inside that and at wedge resistance areas as denoted by the arrows on the picture.

this is how i had the DX plotted out using the same scheme in a large acending wedge which it had broken out of then entered back in in the last few days and broken above a trend line(wedge of the large wedge)..

and here is how i have revised the picture of the DX in a large up channel and in a smaller down inside channel that has broken out of.. i would like to see it enter back into that down channel and into a wedged area..

March 5th, 2012, 04:58 PM

well today was extremely lucky.. i had an early entry that stopped my out(-7), then i got back in with a buy stop above the betterrenko bar(+27). so +20 on the day.. the reason i say it was lucky was because i put the buy stop above the betterrenko bar and decided to lay down and watch some TV cuz the mkt was slow moving. well i woke up later(5hours) to be entered and up 27 on the trade.. this is not advised lol.. if i was in the trade i would have taken a target a bit lower than that.. so i maybe would have gotten away with a 20-25 tick winner on that one.. anyways here are the charts.

here you can see the ichi support with nice CCI separation:

here is the bottom of that 6E up channel offering support(top chart) and showing major DX resistance(thick red line bottom chart).. right arrow was at the time of the 6E entry:

and here is the report.. im not sure if i will post it this way always, as we have been working with the journal:

hey @Big Mike, can i get ability to edit posts for unlimited time in this thread?

March 6th, 2012, 08:51 AM

no trading today, i have to go out of town for a few hours..

March 6th, 2012, 11:02 PM

madLyfe

hey @Big Mike, can i get ability to edit posts for unlimited time in this thread?

Post #1 is editable indefinitely, other posts only for 1 day.

Mike

March 8th, 2012, 05:53 PM

forgot to post my stuff yesterday.. i dint take any 6E trades, but i was all setup and ready for the first one listed on the chart and i was dicking around and forgot about.. must stay focused! i said i was playing around with TF to see how it works with my charts and it does pretty well.. here was a trade i took that missed my tgt by 1 tick, came back up and missed my stop by 1 tick and then went back down where i should have taken profit at BE or better because of the divergence that had setup.. i really thought it was going to fully fill the gap.. i guess not..

6E setups i like from early yesterday:

here was my TF trade as explained above:

i also didnt trade anything today as i pull something in my back and didnt hardly any sleep last night and its still killing me..

March 12th, 2012, 04:40 AM

we have broken out of the up channel that we were in and are still in the larger down channel on the 6E.. were are major support(red lines) and im going to be looking for channel reentry or breaking below that support and heading lower..

it is pretty muchly the exact opposite for the DX.. were out of the down channel in the larger up channel and we have a nice trend line going up, but right above us is the previous months high that looks like strong resistance..

March 15th, 2012, 08:38 AM

trades i took yesterday, first was on the 6E.. i missed an early divergence trade with a nice CCI pattern that i like where the 20 rises above to extremes.. then i took one short below the vwap when it had seemed like a good day to fade the indies as no trend had developed..

i took two trades long an the TF early in the morning.. one was a tad too early and would have proved perfection if i would have waited for some divergence confirmation.. i was looking for the highs of the day and the previous days high.. following the successful second trade i would have had a nice divergence trade short with the same CCI pattern as noted above that also included the major resistance which was my target.. was thinking grr...

either way i ended up like $35 on the day..

also ive removed the bands of the vwap for my longing quest for simplicity..

mea culpa, mea culpa, mea mÃ¡xima culpa

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mea culpa, mea culpa, mea máxima culpa