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T For Trading
Started: by devdas Views / Replies:56,177 / 1,132
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T For Trading

  #41 (permalink)
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waiting till 12-12:15 PM...

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  #42 (permalink)
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thats the poorest thing....why dont they release economic numbers after market close......so every thing atuodiscounted in gaps....
inflation numbers...


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  #43 (permalink)
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  #44 (permalink)
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running out of time...scratched

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  #45 (permalink)
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Plan

Futures Edge on FIO
Hello Devdas,

Congrats for your Journal..

In your first post you mentioned this as your weakness,
Quoting " 3) No fix trading plan each day. I trade what i see and feel. (Disastrous nightmare ) "

After reading your posts, i didn't see any plan before market open, how you decide your bias, trade ? if You change your bias then why u changed it ?

I suppose purpose of this Journal is to overcome weakness..so i think you should start by having your plan.

Looking forward ..

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  #46 (permalink)
 Vendor: www.edevaay.com 
Al,India
 
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Posts: 1,544 since Feb 2010
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Breaking Balance

Two loosing trade. Nett result of day = -6-7 = -13 Pts after comm.

Break of balance was anticipated, and it did so. Both of trade were normal trades, but they are carrying different reasoning behind them. After success or failure or at the end of day, any number of reasoning can be attached but i will try to reproduce the thought at the very moment of market when they were taken.

Trade 1 : At the day start , its still in balance and immediate price structure was pointing down. As soon as an entry bar coincide with my type of view i took it. It was little slippery and fast to take.One element of this structure was long down sloping channel that gave me feeling that its too late. Market may not repeat this time, it had already done 2-3 times. This trade has no outcome bias from impending balance break which i have been in mind since yday. As it progressed just a little , its movement alerted me and i scratched it without delay. It was not any painful, just a normal entry within risk tolerance.

Trade 2 : It was the trade which i had in anticipation of breaking further down. I was almost confident of breaking down more. Point 8 and 9 have all the contextual meaning of breaking further down. But my entry location might not have been well placed according to larger time frame ( 15-min ). It was caught as pullback on 15-min. I dont know from my side it was early or late but structure did not proved it right.
One thing i learned definitely from this fail trade that , when i was eyeing a break of balance on larger time frame and my objective was large size target then i should have positioned my trade according to risk tolerance on larger time frame not on smaller time frame. This does not necessarily means taking higher risk, but locating smaller time frame structure on larger which have similar/same location. Such a location was after test of VWAP.

I have marked 2 more location A and B. A was purely , high risk high reward location in context of break and B was continuation location but it was a turbulent, high risk, i am not adapt of this risk yet.


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  #47 (permalink)
 Vendor: www.edevaay.com 
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Seems in process of thickening low volume zones.

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  #48 (permalink)
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though bar ranges are very low....not suitable.

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  #49 (permalink)
 Vendor: www.edevaay.com 
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Posts: 1,544 since Feb 2010
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scratched...not a feeling of right trade.

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  #50 (permalink)
 Vendor: www.edevaay.com 
Al,India
 
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Favorite Futures: NiftyFuture
 
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Posts: 1,544 since Feb 2010
Thanks: 1,428 given, 1,640 received


staying away till bar ranges and overlap improve a little.

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