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Short term TF trading


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Short term TF trading

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  #621 (permalink)
Vienna Austria
 
 
Posts: 116 since Mar 2012
Thanks: 16 given, 67 received

im curious, how big is your stop (or stops) for most of the trades?

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  #622 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Amnesia View Post
im curious, how big is your stop (or stops) for most of the trades?

Most always within 12 ticks.

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  #623 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Breakout trade. I was looking for a deeper pullback, but it couldn't do it. I reluctantly took it, but turned out nicely.


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  #624 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Started off the day with a great trade. Then got caught up (mentally) in a view on what the market "should do" for a while, and gave back profits. It took the market showing an entirely new dynamic to shake me out of it. But the good news is that once the new dynamic/environment/movement set in, I capitalized on it.


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  #625 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Interesting to me that volume is still increasing 6 minutes after the release.

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  #626 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Pretty good day today, did a great job keeping losses small. Had a few trades where I only got profits on part 1, but that is just fine, I was giving part 2 a chance to run. Stayed the course and made my 1% for the day.


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  #627 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I had a nice read on a failure to continue lower as it "should have" to continue the flow, and took a countertrend entry long.

The problem was with my management of the trade.

I had nearly 20 ticks of profit... and greed in my eyes. Here's the entry and exit on a 2 range chart.


But notice the highlighted selling that took place earlier this morning on the 3 min chart in the area. Should have certainly taken at least half off at that level.




Live and learn. Keep trying to improve.

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  #628 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Solid day today. 6 trades. 67% winners. +20 ticks

Both losing trades were against the flow. All winning trades were with the flow. Hmmm...... I think I've typed something like that before... maybe 50 times before. The problem is that I think I'm too smart to just go with the flow all the time. My amazing analysis is just too advanced for that simplicity. haha





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  #629 (permalink)
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
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indextrader7 View Post
Solid day today. 6 trades. 67% winners. +20 ticks

Both losing trades were against the flow. All winning trades were with the flow. Hmmm...... I think I've typed something like that before... maybe 50 times before. The problem is that I think I'm too smart to just go with the flow all the time. My amazing analysis is just too advanced for that simplicity. haha





I fight this myself, brother... I love to fade big moves or channels or....


AJ
Nashville, Tennessee


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  #630 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Here's a look at the morning session, and some mistakes I found in my analysis (or lack thereof):

All is shown from the 2 range chart.

Good first trade, long off support level. Then I mismanaged the next trade, and had the stop loss for part one way too tight. Price could easily retrace to that level, and it did, without invalidating that trade idea.



The next trade was pretty bad. I got back in, long, right at the previous chop level (resistance now) which is also the open level for the day.



Now as I'm stopped out, I immediately re-enter the long trade. Just ignoring everything and wanting to be right at that point.


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June 9, 2013


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