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TST Trade Journal


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TST Trade Journal

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  #181 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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I just realized after drawing in a trend line, how different the picture would look from the short I took this morning.

Could say its a piercing trend line trade and the correct side to trade from was long.

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  #182 (permalink)
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There is (much) more to the market than trendlines.

Also when I read your comments it seems you are focused on "the trees" and unable to see "the forest".

Just something to consider...

Mike

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  #183 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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Some more steeper trend lines added to the chart.

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  #184 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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Big Mike View Post
There is (much) more to the market than trendlines.

Also when I read your comments it seems you are focused on "the trees" and unable to see "the forest".

Just something to consider...

Mike

That's always been a problem with my assessment of the market, I sometimes see the forest, but then might miss out on a tree, and when I focus on the tree, I miss the forest.

Its something I am aware of and work on it everyday. Its just finding the right balance and right now, these are the concepts I am learning from the Course.

I've talked with Mike and he said not to panic as the first 10 weeks of the 20 week course is focused on concepts. Once I tried to apply their first Junior level strategy, I was freaking lost cause I thought I knew the basics. How wrong I was. There's like a checklist just to take a trend line trade, which is why I am emphasizing the missed trend lines from today as stated as their is a "piercing trend line" trade setup they teach.

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  #185 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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Pit closed.

Its funny, what I am experiencing is not a linear progression of my comprehension and application of the concepts, its left turn, right turn, 2 steps back, 1 step forward, 180, all over the place.

Its discouraging none the less, this part sucks and when I get past this, it gets easier, I've been down this path before with my other issues. This is not any different.

At least now, moving forward, I know what to focus on again.

Just wait till Gann levels and extension start getting introduced and put into the mix.

Seriously am drinking from a fire hose when I think about it.

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  #186 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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Now that I have a better understanding of the concepts being taught, I "jumped" ahead to see what the "Ice Cream" Trade setup is all about and I found one in the NG on a 60m chart.

Pretty interesting stuff they are teaching.

I thought the Piercing Trend Line Trade was good, this "I dropped my Ice Cream" is even better!

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  #187 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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No clean space prior to the break so I was not looking for a trade to the short side.

Now there is space to the upside, from this break.

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  #188 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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Come to think about it, there is simple space on the 240, I was not focused this morning for the first 15m when I got to the computer by 0915hr

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  #189 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
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Come to think about it, I was looking for a short with the marked area on the 15m, I just was not sure how to put the trade together as I was looking at the retrace back into the R-Zone and I did look across the higher time frames and did not think the 60m had clean space to trade into so I negated to pay any attention to the 240m and its space.

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  #190 (permalink)
Toronto Ontario Canada
 
 
Posts: 290 since Mar 2013
Thanks: 2 given, 35 received


Potential Piercing Trend Line off the 60m setting up, though still have 30m to close.

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August 12, 2013


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