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Intricate's TST Combine training + Real Combine Journal
Today was my first NY session on the real combine. For most of the session the price on ES seemed to be continuing in this uptrend. Thus, I was hoping to get a stop order in on the reversal. After a few hours of it going up, it plateaued and was trading sideways for a bit on top of a level of support. I placed my stop order a few ticks down from the support and near the end of the session, I got in.
ES short 2275.25 - 2275
I only stayed in this trade for a short period of time because as soon as my order was filled, there started to be more resistance with a lot of buy market orders hitting the market. As time was getting closer to the end of the session, I decided to just get out for the quick tick.
So far, I have made one trade that I got out even and this one I got out with one tick. Got to make sure I continue to take things slow and wait for opportunities to come to me. If a set up has something wrong with it, don't take it. I got to just be patient and be logical in my trades.
I thought I was shorting a downturn from the resistance level but it then just broke right through the resistance. Then when I tried to limit out of the trade, I went to place my limit order on the dom and somehow I exited on a market order?? Was bizarre but oh well. It was a terrible position to get into a short and I shouldn't of made that trade.
ES long 2278.5 - 2278.5
I need to research into signals of reversals vs just pullbacks. I got into this trade and not a second later the uptrend started to pullback. I was scared it was a trend reversal and thus limited out at even. The price then continued up more than 10 points........
I decided to stop for the night after these trades.
I have to further research reversals and pullbacks to help keep me in trades for the appropriate amount of time to prevent things like this occurring in the future.
Well, the morning today went a lot better than last night! I managed to make my first successful trade that I held for a while.
ES Short 2290.75 - 2290.75
Being at a high I hadn't ever seen, It made finding areas of resistance and support above breakouts pretty hard to see. I found out this session that I need to learn more about trading ranges as I am terrible at trading them. This short was a stop I had placed below the bottom trend line in hopes of catching a reversal down. However, it was too close to the trend in a position where it was at the bottom of a pullback and not below a level where it could be considered that the trading range had reversed. As price continued up, I figured this was gonna be another big loser until the bears started gaining a bit more control of the market. This was when I placed my second short and it came down back to my original price, letting me out even.
ES Short 2294 - 2290.75
Seeing the opportunity to short, I did so! This trade I held long enough to be able to get out 3.25 points. Happy with the amount of points I was at, I got out and not long later it continued back up. This meant that I got out luckily. So although I did manage to hold onto a trade, I feel that a large portion of my profit was due to luck and this is something I need to fix.
I am starting to read one of Al Brook's books on price action and hope to see what valuable insights he has that could help me understand ideal times of entries and exits so that I can become a better trader.
Shorted this level from resistance. It breakthrough with a massive bar but I still managed to get out for a positive tick when it came back down.
Euro Short 2296 - 2295
Shorted a double top. Got out for a point but I should of stayed in longer. Still got to work on holding trades but I am starting to get a bit better.
Im really liking Al Brook's book i'm reading and loving his videos on youtube. I hope to gain a better insight into price action as I continue to study it!
Tried to catch a third bounce on a trend. However it was getting close to the end of the NY session and I had to close it out for a loss. However, somehow I accidentally made another 2 shorts at 2275.5 which decreased my loss to 2 ticks instead.
All in all, it has been going pretty well so far. Still need to work on holding trades but that takes time,practice, and confidence.
Yeah you're right! There will always be another opportunity for a trade if the current one isn't set up right.
