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Back now but looking at today's activity and tomorrow's news, I think I'll take the day tomorrow to get some other stuff done. I'll get my weekly posts tomorrow as I'm tired
Gnight guys!
Yesterday's excellence is today's standard and tomorrow's mediocrity
Overview of the week
Last week was slow, mostly bull market with very little volatility. Volume was a bit below average during the week and we did not reach ATR.
Goals set for this week
Post your 2017 Goals & Objectives - Stop trying to make it into a huge detailed post and just post them already! Perfect is the enemy of done- Failed
Journal every day
Figure out a meditation routine. How, when, where- Passed
This week I won't be as busy as last week so I'll start my meditation routine as well as post my goals tomorrow.
Excellent trades: 0
Good trades: 5
Ok trades: 0
Bad trades: 0
Really bad trades: 0
No FOMO or emotional trades, and I'm finding that I'm taking good trades, However, I am not reading the market well. This is a full on bull rally. The market reaches higher highs every day and we don't see big reversals. I need to change my overall strategy to adjust.
It's a bit uncomfortable for me to buy at new highs but hey that's what you do in these type of markets right? at least until something changes significantly.
Yesterday's excellence is today's standard and tomorrow's mediocrity
Thursday- ECB Minutes, Jobless claims, Business Outlook Survey
Goals for the week
Journal daily
Post goals on Wednesday
Start meditation routine
Additional psychology goals this week
Do not short the market, unless something changes significantly
Time to adjust, so no shorting until we see some big changes macroeconomic-wise. My strategy will be to look for a buying opportunity and hold until end of the week or an expected resistance area. This might involve less 'day-trading' and more 'swing-trading', but it's probably the best for these type of markets. We'll see!
Yesterday's excellence is today's standard and tomorrow's mediocrity
I was looking at this and was thinking about making a gif background.
You have to fix (lock) the scale.
If you do it with the piccyback indicator perhaps you can see which of your scenario lines unfold?
Edit : OK bad idea - can't get the overly to fit - LOL
ON session was low range, balanced between 5314 and 5308, super tight
Weekly range @ 85/118
Today will be a different focus than usual, since I'm still holding on to a trade from yesterday.
Scenarios
Setups
First trade taken
I only have 1 screenshot as for some reason my snagit didn't keep the other screenshots I had.
First time that I've added into an existing position on a different day. I won't lie, I was nervous before and during the first 10 minutes of the trade. I don't know why I was so nervous, maybe I was scared that I would fat finger something?
Things looked bullish so I entered as I didn't think we would hit the 000 area initially. The entry point wasn't ideal as I would've wanted to take it ~ the 03 area at most The trade looked good at first and then all of a sudden we saw some strong selling and my order got stopped out.
Trade grade – Ok
It may or may not have been part of my setup plans but at least aligned to my scenarios
Some signs were there
Decent (but not good) target and/or stop
Second trade taken
Once the market dropped we started to see some reversal signs around the 000 area. I chose to take another long setup.
Similar to the trade above, the trade went well for a bit and then all of a sudden we saw some strong selling and the trade got stopped out.
Trade grade - Good
It was in the plan
Observed signs of entry
Good target and stop
The entry was much better on this trade but I had a bad read on the market.
Third trade opportunity - Passed
I was then going to take a long at the ~90 area as we started seeing some reversal signs, but I stopped myself from taking it as this would be the 3rd time taking the same trade just at different area points. It ended up holding but if it didn't it could've tilted me.
My swing trade from yesterday
The market came down to 5288.5 which is 1 tick above my stop, wow. However, I'm still in the trade. We'll see how the market plays out tomorrow.
