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Hey Good morning Racer,
It's just an old CM400E that was given to me for payment by a friend for building his garage. I've had it for close to 15 years and ridden it all over. Change the engine/transmission once, ridden it from NY to the top of Nova Scotia, and from NY to the bottom of Virginia. It's nothing too fast but it's a lot of fun and cheap to ride.
Good Morning,
I trade for small 5-10 tick scalps (atleast that's my plan) using an assortment of "levels" of importance. my premarket usually consists of looking at the larger timeframe charts (30 minute to daily to weekly) to get an understanding of the context of today. On the larger timeframes I use VWAP and Volume Profile as well as seeing previous swing highs and lows have registered.
As I get down to shorter term charts for entry I use Opening Range levels and their extensions as well watching for areas where multiple signal generators coincide. (ie moving averages, Yesterdays highs and lows, overnight highs and lows, session open and closes) In the end these all provide places for entry and exit but it is their combination and orderflow interpretation that triggers me into entry and sometimes exit.
Below I will post a couple charts. Yesterdays premarket idea and then todays. Hopefully I will get better at this part in the future.
Today I really don't have many tells so I will probably be waiting more for the Opening Ranges to be posted,
1) Could be an inside day of consolidation,
2) Could move downward towards half way back before going higher
3) Could continue higher with smaller continuation of breakout
The past several weeks have been a blur of frustration, trading errors, and feeling like right now I couldn't trade my way out of a paper bag. I have been dealing with a few other things outside of trading and while I would like to use that as an excuse it really isn't.
I know to succeed I need
1) Proper Money Management (Discipline)
2) Consistent application of my edge (Discipline)
3) Quality Record keeping for analysis and measurement (Discipline)
4) Comprehensive approach with accountability (Discipline)
5) A will to attack and a will to admit when I am wrong (Discipline)
I have definitely taken tooooooooo long learning this and most of the reason for that is not doing things 100%. While I understand better today just how hard trading can be I don't believe it is out of reach by any means. Anyway I look forward to putting in 100% for the next year to see where that takes me. I am not going to change anything in my approach (not jumping from one thing to another), except to focus much more on a disciplined process.
