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mea culpa, mea culpa, mea máxima culpa

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  #1 (permalink)
 madLyfe 
Des Moines, Iowa
 
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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:

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..

dont believe anything you hear and only half of what you see

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  #3 (permalink)
 madLyfe 
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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..


dont believe anything you hear and only half of what you see

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  #4 (permalink)
 madLyfe 
Des Moines, Iowa
 
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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..


dont believe anything you hear and only half of what you see

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  #5 (permalink)
 madLyfe 
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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?

dont believe anything you hear and only half of what you see

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  #6 (permalink)
 madLyfe 
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no trading today, i have to go out of town for a few hours..

dont believe anything you hear and only half of what you see

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  #7 (permalink)
 Big Mike 
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madLyfe View Post

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

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  #8 (permalink)
 madLyfe 
Des Moines, Iowa
 
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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..

dont believe anything you hear and only half of what you see

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  #9 (permalink)
 madLyfe 
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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..


dont believe anything you hear and only half of what you see

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  #10 (permalink)
 madLyfe 
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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..

dont believe anything you hear and only half of what you see

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 madLyfe 
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here were my thursday trades.. i ended up down 2.4 points or 24 ticks.. it seems allot worse than it really was.. i had two bad trades, and 1 'mistake' trade where i misclicked and put a limit out for entry when i wanted to enter on a stop.. and then i had the mkt pegged on 2 trades, 1 filled my tgt and one i had the tgt a bit to far away and it turned on me to quickly before i could properly adjust myself to BE.. so i guess that trade was a good one with a bit of mistake sprinkled in.. one more day till the weekend!




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 madLyfe 
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ive been testing this setup that i have noticed reoccurring at tops and bottoms of mkt movement, and they seem to be high % for now.. obv further analysis is need.. i skated out with 23ticks on the TF today.. chart shows what happened.. have a fun/safe weekend everyone..


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 madLyfe 
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im still recovering from the weekend.. but here are exactly the trades i would have taken.. lotsa winners on the TF and no losers, and two winners on the 6E with no losers.. also the large moves are misleading as i would have taken much smaller profits im sure or moved my stop to BE +1, but still winners none-the-less..

chart of the TF:



the 6E chart:


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 Rad4633 
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@madLyfe

recovering hey

I like ur chart setup, might I ask what is coloring betterrenko's?

Thx R

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 madLyfe 
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Rad4633 View Post
@madLyfe

recovering hey

I like ur chart setup, might I ask what is coloring betterrenko's?

Thx R

ya it was a rough sunday/monday morning.. ya sure, the indie is called ReversalBar_V2.. i cant remember where i picked it up at, but im guessing it was from @Jeff Castille's thread..

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 madLyfe 
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been working outside the house the last couple of days and will be out till about next tuesday night..

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 Big Mike 
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Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

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 madLyfe 
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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 with high volume.. looking for a bounce here maybe..

dont believe anything you hear and only half of what you see

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  #19 (permalink)
 madLyfe 
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this was the trade i took today once i got to my computer in the afternoon.. i saw the push up with a ton of selling then i saw the retest that couldnt close above it on the 5m on lighter volume..

my tgt was at prior swing and congestion..


dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #20 (permalink)
 madLyfe 
Des Moines, Iowa
 
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so i tried to short the top of the trend channel on a break below the ND bar.. that pushed right back up to stop me out on a massive bar. then price came right back down from that bar and still in the upper area of that trend channel on lower volume on the push up and the next bar so i thought maybe i was just a tad early.. that also got stopped out and realized i was on the way wrong side of the mkt.. i talked with @t123knight about it and i really hadnt payed much attn to the background of the HT charts..

i decided to stop for the day as the mkt was nearing an end.. all of my past winners i have taken with wyckoff/VSA i really did have a grasp of the mkt background before i had placed the trade, so i need to keep that in mind.. heres to tomorrow..


dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #21 (permalink)
 madLyfe 
Des Moines, Iowa
 
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what i posted in the wyckoff speculator thread.

very nice how that all played out once we got that bearish change in behavior..



a: the breakout of the TC after it failing to reach the bottom of said TC

b: obv buying supported by the wave volume on the breakout

c: nice little spring/reverse upthrust(whatever you wanna call it)

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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