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A Cowboy's Trading Journal
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A Cowboy's Trading Journal

  #511 (permalink)
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bmtrading9 View Post

Can anyone see any bearishness in these charts? (but hey this oil so we never know) BTW, I don't like trend lines, those are experimental lines in SC. Seasonality screaming buy oil. Plan is to buy QM on weakness.

Just interpreting the price action:

My read is as follows after a 2 second glance~

#1- pause/potential reversal of a bear
#2&3- early bull potentially about to break up to make a successive hh
#4- bull trend taking a pause

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  #512 (permalink)
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Inletcap View Post
Just interpreting the price action:

My read is as follows after a 2 second glance~

#1- pause/potential reversal of a bear
#2&3- early bull potentially about to break up to make a successive hh
#4- bull trend taking a pause

First one is weekly chart, 2&3 daily charts and 4th is 25 min chart. I generally not a breakout player so waiting for a pull back looks like I might not get it but indices are in down trend so waiting doesn't hurt I guess...

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  #513 (permalink)
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No trades today as I was very busy at work. Indices charts does looks like they might go anyway and earnings season started so it's usually a buy in earnings season maybe this time it will be different?

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  #514 (permalink)
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bmtrading9 View Post

Can anyone see any bearishness in these charts? (but hey this oil so we never know) BTW, I don't like trend lines, those are experimental lines in SC. Seasonality screaming buy oil. Plan is to buy QM on weakness.


So again Trillionth time I didn't stick to plan so that makes it EXECUTION is way important than just PLANNING.

Again no trades today so far, I am getting pulled into multiple directions so not finding time to watch markets.

Edit: Was able to manage two trades today

Trade1- CounterTrend (but hey what is is the trend lately buy at low of range and sell at high of range so I don't know if it counter trend trade or trading with context)

I thinks it's counter trend trade because of internals but those damn internals were screaming buy yesterday and this morning too...

Short YM at 17435 with mental stop of close yesterday's high then I remember when did I stick to mental stops so put a hard stop at 17450

Result - Got my stop and dropped

Trade2 - Breakdown trade (Not my forte again) - Breakdown of previous day's VPOC and stop at 4491 (R1)
Short NQ at 4485 cover at 4483 (something like that)

Was expecting continuation to VPOC at 4474 but no sellers to push it quickly so closed it quickly.


Last edited by bmtrading9; April 12th, 2016 at 05:15 PM.
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  #515 (permalink)
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Futures Edge on FIO
Did few quick trades this morning when I woke up in the middle of night but boy it's very slow most of the sometimes. Not major losses or gains. CL I was able to price action properly but due to pending EIA report I won't touch it now. NQ and YM are at top of the range again, went there very rapidly so bulls looking for breakout and Bears looking for bottom of the range for a chance to cover I know how this will end for bears especially in earnings season so plan is to buy dips.

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Edit: No trades again today in RTH because of work busy. Good to see lot folks getting good results.


Last edited by bmtrading9; April 13th, 2016 at 05:05 PM.
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  #516 (permalink)
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I woke up again in the middle of the night coughing due to spring allergies (this totally new to me and very frustrating)...That phase of swing vs intraday arrived little early so I did following trades in ETH with swing mindset (got to be flexible here is the key)

Trade 1

Saw weakness in OIL overnight and put a sell limit order at 41.60 on QM and it got filled so grinding that short with wide stop. I am not sure if I can add or close this short, I am kind of confused with the price action here.

Mistake: Should have waited for reaction and possible traps at the sell zone.

Trade 2

Again saw weakness in GOLD overnight and put a sell limit order (1250) on wrong contract month on miniGold (YG) and it got filled and later noticed that volume is absolutely zero and I have ten days to close that short, panic started building so put buy to cover order at 1243 and luckily got filled...even-though price moved further down but it is good to close that for 7 point profit on miniGold.

Closely watching CL, NQ and YM for any intraday trades. Sell area on NQ is price close below 4552 (Note to self be careful for traps)

Edit: Oh boy that gold short looking very good now, it is in full downtrend mode, I wish I wouldn't have done that wrong contract.

I still have that oil short moved my stop to BE but I am so pissed off market getting my stops so moved back to original stop area.


Last edited by bmtrading9; April 14th, 2016 at 05:13 PM.
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  #517 (permalink)
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Closed QM Short for 90 ticks.

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  #518 (permalink)
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My BIG problem

Converting DAY trades to SWING trades when in LOSS and SWING trades to DAY trades when in PROFIT. Of course all analysis is done hindsight.

Where I should be doing exactly opposite of that to taste any success in this trading

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  #519 (permalink)
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I am showing great restraint in not jumping and not shorting this market which itself is a good progress for me.

Trade-1

Blocked out of charts whole morning but managed to take only one trade

Short NQ @4553.25

SL of 4558 and PT of 4539 (Uff what was I thinking) because it is a counter trend trade.

Reasons to enter - Price struggling at Previous day's high and expected a roll over towards ETH PP

Exit NQ @ 4553

Reasons to exit - Price did go to 4551 but there were no sellers to push it down.

Why counter trend? Internals are simply too strong so it is a counter trend trade.

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  #520 (permalink)
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Did few trades with swing mindset...

Trade - 1

Short YM@17951

Was eyeing this short from morning that was late entry but dared to enter at the breakdown of NQ so paid for price confirmation

Exit - 17916 target was Yesterday's low but hey you know these days shorts are extinct.

Trade - 2

Long NQ @ 4514 thought this will rip higher
Exit - 4514 for scratch (Reason, didn't feel it )...My feeling proved right for few seconds and immediatly price reversed to my PT.

Trade - 3
Short YM@17951, but accidentally closed this short re-enter and close again and re-enter again (Lost few points there)

so finally I am going home short YM@17966 with 100 point stop and planning to add/close overnight.

Reason - NQ weakness will be spilling over to others.

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