Main premise was to look for a liquidation move below 1305.25.
Second premise was to look for IB high to hold (didn't hold today).
6:30a - ES open at 1307.00. OS low 1305.25. OS high 1308.5. OAOR.
7:36a - ES long at 1299.75 +1.5/-.75
8:18a - ES short at 1300.25 +1.75/+5.25
10:38a - ES long at 1301.5. +1.25
11:43a - ES short at 1308.50 -2.5/-2.5
Main premise for the day was a pullback to the 1315-17 area (OS low was 1316.5) and to see buyers step in. Scalped the first test of that area and then waited to see responsive buyers step in at 14.75.
6:30a - ES open at 1320.5 OS high 1321. OS low 1316.5
6:40a - ES long at 1316.5 +2
6:52a - ES long at 1315.25. +1.5/4.75
Main premise of the day was to look for longs above 1319 to take us to 1333-1334 resistance area. I took the long about a minute after the news when we retested on the open at 1326. This area was quickly rejected.
Main premise was to look for signs of continued selling from the ON session. Once we opened with a test drive down against the 1320 open and failed to retest significantly against the OS low at 1317.50 this looked like the main premise for the day.
Original target was 1306.5; however, we had multiple absorptions in the 1312-13 area and just couldn't seem to slice through.
6:30a - ES open at 1320.00. 1320.5 OS high. 1317.5 OS low. Test drive.
6:35a - ES short at 1317. +2/+5.25
The reason that traders lose is because they believe it is easy money. It is the hardest money you will ever earn. Work on this harder than you worked on your job or business. Get up one hour earlier, push yourself that much harder than yesterday, do not stop striving to be at 100% everyday.
What if you committed yourself to trading your best every single day? What if you followed Big Mike's simple advice and changed nothing on your charts? What if you journaled every trade or went even further and recorded your trading sessions in Camtasia? What if you became a diligent student of yourself, your fears, your greed, your emotions, your mental blocks just as you watch and observe the market? What if you observed the orderflow, observed every tick of the market, even if you had no intention of trading that day?
Could you make this committment for a single day, week, month, or year?
What would you have to gain if you took on this committment?
What would you lose if you took on this committment?
Even if you failed you would know that you had given it everything you had. You would never have in your mind, coulda, woulda, shoulda.
And should you succeed? Anything is possible. Not only is it possible but it's inevitable.
The following 4 users say Thank You to eudamonia for this post:
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
I haven't changed anything about the way I trade in over 6 months, no new indicators, methods, etc. I keep detailed journals and a daily pre-market and post-market plan. I was keeping all of my sessions in video; however, I'm finding that getting the time to go through these is the challenge with my current schedule so I'm not sure they provide much value.
More importantly do I give 100% effort everyday? I wish I could say that I did. Somedays and even some weeks I definitely do. Other times I don't. I get lost in the land of excuses as much as anyone else can.
It's as much a challenge to myself as to anyone else.
The following user says Thank You to eudamonia for this post: