6/7/2015 - first short after open can be considered as a valid signal (it gives strong momentum change) but during my testing I always omitted signals that were breaking EMA that much. The second signal I took was technically correct but short party already finished. Traces could be seen in chart dynamics but one never know what happens next in the market...
Last edited by tomas262; July 6th, 2015 at 04:39 PM.
System is supposed to be played more mechanically. If I took all signals after open agressively in the direction of EMAs I would be nicely in profit this week (who knew that on Sunday??) but considering I have 5 stops left I will be very selective in what I take. I want to see everything aligned. Not sure if its a good choice but we will see. At least I feel I am learning some patience here and since I had some problems with that I think it's not that bad for now
I am scared if i hear this. That mean you are going to filter entries using your
subjective opinion? Why to be selective only if you have 5 stops left?
You are running quite mechanics system. That generates few stops. Than you are going to be selective. Selection is based on what? - If its on some indicators, you need to have a statistic calculation to do that. If its on your opinion, you have to be very experienced.
You should think more complexly. Making decision to risk your money on impalpable evidence is very hard.
Today both trades (in the direction after open and reverse) had odds in my favor but considering avg daily range reached and situation on daily chart (reaching prev days tops) I evaluated that odds for reverse are higher so I will rather wait. It was not just a "feeling". I know that the second setup if occured could finish as a losing trade but who cares ... System is subjective since its a discretionary approach. not mechanical that can be programmed or described on a piece of paper. Every time a signal occurs I have to decide whether I like it at that moment and put my chip on the table or there is "something" wrong and I will rather wait for a "better" setup. All I do is trying to make sure that each setup I take has odds in my favor at that moment (yes I plan for the most possible scenario which is not necessary). Over series of trades it's just a different P/L distribution (hopefully slightly better). Maybe I'm wrong...
Last edited by tomas262; July 9th, 2015 at 01:41 PM.
10/7/2015 - seems market is really uncertain where to go. 2 fails go higher, 2 fails go lower and now ... where to go? Got a nice price for long so tried. After stop possible consideration for reverse - ha market is copying yesterday's scenario ...
After some considerations yesterday and today I have decided to switch to SIM mode and continue in this mode. I really don't like risk level at this moment. I feel it negatively affects whole game and decision making process. Will continue doing my journal not because I want to test the system but I want to keep proper routine until I will be able to switch back to live again.