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Pre-trading prep:
Quad witching, rolled over to march. 6E put in a HH and HL and is trying a run up, meeting resistance at the breakdown point from 1900.
We can see the trouble on the 60 minute, with 1900 not giving up easy this time around. I'm stalking a short here but not sure where to pull the trigger.
I missed the short...and the followup.
F**king Horse Balls. With price making an impulsive move down into a level that had already touched 3x, now hitting the 4th time... I take a long, get shaken out, and take the same long again.
This is a combination of hope-ium / emotional trading, and just blindly looking at S/R without context. A recipe for failure. And re-entering after a shakeout is almost never a good idea for me.
The pattern that's emerging is I'm missing the better trades and taking the crappier trades. There's too much uncertainty in my decision making process.
Although it feels like one step forward two steps back I do think I can spin out some positive lessons from the week. God damn it though. No need to get dramatic but pretty irritated overall. With the high commission we are working with, 2/3 of my total losses are commission. Against that drag I need to be looking at both a higher win rate and larger wins.
I'd like to suggest that since we are at mid-month, we do some kind of mid-month review. I will try to review not just my own trades so far, but also every one else's posted charts, and offer whatever questions / comments I can come up with.
Next week is our last full week of the year so try and make it a good one. If I have time I will try to replay a few of the more interesting days and workout some clearer rules. This is all about getting ducks in a row to start next month on the right foot.
Dec 5: -$7.37
Dec 6: -$15.66
Dec 7: -$14.08
Dec 8: $17.17
Dec 12: $-28.16
Dec 14: $29.67
Dec 15: $-48.16
-----------------------
$-66.59
DEC 15:
I was looking for a short early on, too early, then when it came, I was gunshy. Seems to happen repeatedly, waste little available mental prowess on the sucky trades, and have nothing left for the real trade.
Total for the week: $-63.63
Here is a 30 minute chart showing the real trade:
If everybody posts their weekly total, I will update the summary post with this week's winner. So far, it's @FlyingMonkey again (sorry the bar is so low for you)
"It does not matter how slowly you go, as long as you do not stop." Confucius
After the ugliness of the last Euro session, I felt I needed a little punishment and discipline. So I took a couple days off, and made myself finish a project I've been working on (a daily trade worksheet) as well as get caught up on working out (every trade I have to do 20 pushups/squats/pull ups, etc, had seven trades to make up LOL.)
So as today's awesome short opportunity was unfolding, I was watching it pass me by as I was playing in Excel and getting pumped up. Finally up to speed, I allowed myself to trade. None too well I might add, again found myself futzing around in places I shouldn't be and missing obvious opportunities. Still ended up in the black, but just... ehhh... whatever LOL.
Had the Euro session breakdown not happened, I would be up for the week. Had I not made so many stupid mistakes, I would be up for the week. Had I any semblance of an idea of what I was doing, I would be up for the week.
LOL... I actually did end up for the week... by $0.52 Call it breakeven. But still down for the month.
Thanks, if you are able to get back in time on the charts I suggest going and looking at 6e and 6b over as big a period as you can on a 60min chart. That volume bar indicator is great. Look for 15min price action off those high volume 60min bars. Mix in a bit of general trend analysis on the 60min only and I think that would be very profitable.
SC contracts - since I'm a newb and don't have all of the contracts memorized, I have to cheat.
The easiest way I've found to check the contact volumes in SC is to make a QuoteBoard and put the symbols you want in it and add all of the appropriate columns (Symbol, Name, Volume, etc) and then you can roll back and forth by right-clicking on the Symbol and select which direction you want to go, while seeing which one has the most volume.
On a chart menu, you can click on Chart->Perform Futures Symbol Rollover and then manually change the month/year to whatever you want (this is how I use the QuoteBoard to cheat - change the H18 to Z17) OR you can go to Chart Settings and select the older contract.
Call it 
