Today was a good day! The ES moved great after FOMC day which could be expected. Today's news was good also and reflected by the market later as it rallied all afternoon. I missed the up move since I had already stopped trading for the day. I am back to working on basics since the big loss on Monday.
Trades were on the ES and only one method utilized; EOTPRO.
2 trades today. Both winners for a total of 5.50 points.
Please read the notes on charts and also grades in my journal.
The following 2 users say Thank You to NMTrader for this post:
Thanks DabaDave! Although I have to admit I did have reservations initially it has been a good decision. I hope you get to the point of posting yours because it really helps make you a more responsible trader. I'll be looking out for your first journal post!
EOTPro is a great bunch of indicators. I do feel more comfortable knowing what they do exactly and Bill and the rest at EOTPRO do a great job of explaining all the nuances of each indicator. Since I am a just starting out coding (actually just received my first course on Easy Language) I cannot look at the code and know what it looking at exactly. But bottom line, what EOTPRO's indicators have done in making sure I understand each indicator is to make me more confident in using them as a tool. And that is what counts...being confident in ones tools.
I've babbled on long enough...see you on the forum and good Luck!!!
No Trading for Friday July 17th. Not feeling well and not much sleep. I did look at the market for a couple of hours and sim traded the CL...1 trade 1 win utilizing the EOTPRO indicators. I'm glad the weekend is here and will give me time to regenerate and start fresh on Monday.
I'lll post todays journal tomorrow along with tomorrows journal. Hummm. Does that sound right? Anyway, still not feeling well but traded..short summary was that I made good trades and all but one were hit but never filled then came back on me for loses. One big loss was in CL...that was a heartbreaker...touched my 4 ticks several times and never got filled then came down against me quick...Lost for the day.
Bad and Good news!! Bad news: worse two days of trading in my life. Good news: found out why!! My main methodology is utilizing fibs, S/R, MA's and price structures on a 3 min chart of ES. WELLLL! After fine tuning my pc this weekend and going through my setup screens i made a few changes in them. Taking off the status bar from my windows cleaned them up pretty good. I had also tested a few new indicators on my main chart.
After two days of trading and following the usual method in entries nothing worked. And I kept losing and losing yesterday and today. Finally this afternoon I decided I had had enough. Had the methodology stopped working or was it me? I went back and checked my screens and found them all to be good entries according to method. Then the light bulb went on!!! I turned on the status line for the chart and found it to be set at 233 ticks and not the 3 minutes I always set it for. No wonder I was making a lot more trades (losers at that) than usual.. a lot more! Well I was mad at myself for a while but really felt releived that the issue was corrected. At least I hope it is and tomorrow will be a fresh new start
Although I do have to say I did lose all of this months gains plus a couple of hundred more during the last two days. I did have a few bad trades in Crude Oil that did not help the situtation at all on Monday but did have a couple of good ones on Oil today that helped for a while. So I will start posting my regular screenshots and journal tomorrow. I don't think I will ever be able to catch up on all of the trades made these past two days.
Pissed...Embarrassed....Relieved!!! are the words that best describe the past two days!!! Oh by the way, I have reinstalled all of the status bars in each window and made them bigger and brighter than ever.
I will also make it a habit to run through a checklist each morning to make sure all windows and DOMS are set correctly.
May this be a lesson to everyone reading this journal so that you can avoid going through what I did!