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He's alive after all...you ol' ice box!! J/K...It doesn't seem like you initiate on impulse that often. Not that it needs to become habit. Nice cycle btw. I'm thinking about adding contracts too, during SIM, to prep for the micros. Maybe I'll wait to see how they trade though...enjoy the weekend!
Happy Friday, @Salao! I am alive and kicking currently, though the lady and I are going to one of our favorite Italian restaurants in the neighborhood this evening so depending on how nice the wine is I may not be as alive in the morning, we shall see.
Impulsiveness tends to be one of my big mistakes usually, always trying to be more patient
The micros are exciting, I'm not sure how this will play out yet, I'm researching different platforms and its a bit of a confusing ordeal. I'm sticking with what I've been doing for now. Hope you have a great weekend too!
@7:32AM CST - Did some prep-work. Huge gap last night on news, I almost jumped into sim to place a trade but refrained. We are looking at Open Auction Out of Range, the ramifications being that the market is out of balance and we could see some volatility as the market attempts to regain balance. I believe we might test Friday's low and the overnight high if there are any bulls out there, I think we could re-test that gap if bulls gain momentum which could lead to a big day, probably followed by price auctioning back and forth within Friday's range. Its a little irrational that we dropped so far but markets love being irrational, so another scenario could be that we re-test Friday's low, fail and push lower, past ONL, or even start drifting lower without a push up, chop around ONL before pushing to 2880-2874, that would be third scenario.
@OB - Looks like "Open-Test-Drive". Price initially pushed down to 2894.00 before reversing all the way up to 2907.00 and climbing, we may get all the way to ONH? Do I dare buy on a pullback? Too early, I should be patient, wait until things settle. I am learning to be aware of the "work-pressure" that make me impulsively try to jump into trades before work gets busy, leading to silly stop-outs on dumb trades. Also a minute of OB feels like 10 minutes of trading, there is so much action you can really get lost.
@8:39AM - We break out of a zipper and I pretend to go long with a mental-trade to test my understanding. This just led to more chop. False breakout, glad this was a pretend trade. Also still way early in IB, staying out of this mess.
@8:51AM - Another mental trade, pretend order @2902.00, I thought we might have a pullback all the way to 2904.00 but due to the extra volatility I would prefer to enter a few points lower. Irrelevant though, price pushing back up to 2909.00, after getting as low as 2905. What is this telling me? Is 2910 a good entry after the earlier consolidation? Still developing IB, also this might be thee start of harmonic rotation while the market decides what to do. I think OTF showed their hand early with the "Open-Test-Drive" but I'm not sure I'm gutsy enough to jump into this chop with my tiny stops, must be fun to have a big account and just dive right in. I can still wait for the right kind of pullback and position myself long with the OTF assuming that is indeed the right direction. Something tells me this could easily reverse in a nasty sell-off at any moment. Getting in long at 2906.00 would have been a nice little trade as we're consolidating again in that ~2911 region.
@9:00AM - New cycle, rough market, I don't think I have the stop-depth to handle this environment at this time on the /ES. Going to sit this one out.
Summary
=======
No Trades
=======
Final:
What i liked:
- Did lots of trading homework over the weekend.
What I didn't like:
-
Goals for Tomorrow:
- Probability Theory Homework
- Price-Action/Market-Profile Homework
expectancy for current cycle
avg win = = ticks
avg loss = = ticks
% win = (/) = 0.0000
% loss = (/) = 0.0000
current cycle expectancy = (0 * 0.0000) - (0 * 0.0000) = 0.0000 ticks
progress towards challenge goal
$500.00 profit goal.
$ achieved.
$0.00 current drawdown
0 trades of 10 entered.
I need (/) = $ per trade to hit my target.
current expectancy for cycle is0 ticks
2938.25 M
2938.00 M
2937.75 M
2937.50 M
2937.25 LM
2937.00 LM
2936.75 LM
2936.50 LM
2936.25 LM
2936.00 LM
2935.75 KLM
2935.50 KLM
2935.25 KLM
2935.00 KLM
2934.75 KLM
2934.50 KLM
2934.25 KLM
2934.00 KLM
2933.75 KLM
2933.50 KLM
2933.25 KLM
2933.00 KLM
2932.75 KM
2932.50 KM
2932.25 KM
2932.00 KM
2931.75 K
2931.50 K
2931.25 K
2931.00 K
2930.75 K
2930.50 K
2930.25 K
2930.00 K
2929.75 K
2929.50 K
2929.25 K
2929.00 K
2928.75 K
2928.50 K
2928.25 K
2928.00 K
2927.75 K
2927.50 K
2927.25 K
2927.00 K
2926.75 K
2926.50 K
2926.25 K
2926.00 K
2925.75 K
2925.50 JK
2925.25 JK
2925.00 JK
2924.75 JK
2924.50 EJ
2924.25 DEJ
2924.00 DEJ
2923.75 DEJ
2923.50 DEJ
2923.25 DEJ
2923.00 DEJ
2922.75 DEJ
2922.50 DEIJ
2922.25 DEIJ
2922.00 DEIJ
2921.75 DEHIJ
2921.50 CDEHIJ
2921.25 CDEHIJ
2921.00 CDEHIJ
2920.75 CDEHIJ
2920.50 CDEGHI
2920.25 CDEGHI
2920.00 CDEGH
2919.75 CDEGH
2919.50 CDEFGH
2919.25 BCDEFGH
2919.00 BCDEFGH
2918.75 BCDEFGH
2918.50 BCDEFGH
2918.25 BCDEFGH
2918.00 BCDEFGH
2917.75 BCDEFGH
2917.50 BCDEFGH
2917.25 BCDFGH
2917.00 BCFGH
2916.75 BCFGH
2916.50 BCFGH
2916.25 BCFGH
2916.00 BCH
2915.75 BCH
2915.50 BCH
2915.25 BCH
2915.00 BCH
2914.75 ABCH
2914.50 ABCH
2914.25 ABC
2914.00 ABC
2913.75 ABC
2913.50 AB
2913.25 AB
2913.00 AB
2912.75 AB
2912.50 AB
2912.25 AB
2912.00 AB
2911.75 AB
2911.50 AB
2911.25 AB
2911.00 AB
2910.75 AB
2910.50 AB
2910.25 AB
2910.00 AB
2909.75 AB
2909.50 AB
2909.25 A
2909.00 A
2908.75 A
2908.50 A
2908.25 A
2908.00 A
2907.75 A
2907.50 A
2907.25 A
2907.00 A
2906.75 A
2906.50 A
2906.25 A
2906.00 A
2905.75 A
2905.50 A
2905.25 A
2905.00 A
2904.75 A
2904.50 A
2904.25 A
2904.00 A
2903.75 A
2903.50 A
2903.25 A
2903.00 A
2902.75 A
2902.50 A
2902.25 A
2902.00 A
2901.75 A
2901.50 A
2901.25 A
2901.00 A
2900.75 A
2900.50 A
2900.25 A
2900.00 A
2899.75 A
2899.50 A
2899.25 A
2899.00 A
2898.75 A
2898.50 A
2898.25 A
2898.00 A
2897.75 A
2897.50 A
2897.25 A
2897.00 A
2896.75 A
2896.50 A
2896.25 A
2896.00 A
2895.75 A
2895.50 A
2895.25 A
2895.00 A
2894.75 A
2894.50 A
2894.25 A
2894.00 A
The auction resulted in a trend day, almost a double-distribution trend day as the K, L, and M brackets were developing a new value area as RTH/NYSE closed us out.
Then market sentiment turned bearish again right after closing-bell and ripped through the single-print from K period all the way down to the top few TPOs from A period (not pictured). The long single-print buying tail from A period showed that price had been decisively rejected early on as the market decided to correct the overnight sell-off.
Overall there were many opportunities early this morning but in all the volatility I couldn't find the right entry
Hi @Reettrader! I am using tastyworks as my starting platform/broker since its easy to use and they are pretty solid from the brokerage/execution standpoint in my limited experience. platform is optimized for selling option premium, it needs some love for futures traders, i read they have an upcoming partnership with CQG so maybe that will speed things along when/if their "small exchange" gets approval. I am looking to expand to a new platform/broker as well, but I may keep the small exchange account on the side if it gets approved.
Looking at OAIR opening this morning, work is a little busier than usual, going to try and keep an eye on things for a little while longer.
@8:52AM - cannot decide if we're goint to re-test pLOD or drive back up. Too busy, I'm out.
Summary
=======
No Trades
=======
Final:
What i liked:
- Did some reading last night
What I didn't like:
- I think I'm experiencing more fear-driven indecisiveness going live this cycle, but we are in a risky environment with the trade-talks.
- Every time I see an opportunity I'm a step behind today. On the spectrum between information-risk and price-risk, I think I am biased toward gaining more information and missing opportunities due to the fear-based indecisiveness mentioned above.
Goals for Tomorrow:
- Probability Theory Homework
- Price-Action/Market-Profile Homework
expectancy for current cycle
avg win = = ticks
avg loss = = ticks
% win = (/) = 0.0000
% loss = (/) = 0.0000
current cycle expectancy = (0 * 0.0000) - (0 * 0.0000) = 0.0000 ticks
progress towards challenge goal
$500.00 profit goal.
$ achieved.
$0.00 current drawdown
0 trades of 10 entered.
I need (/) = $ per trade to hit my target.
current expectancy for cycle is0 ticks
I've been re-reading "Mind over Markets" from the beginning since I returned the library copy and purchased my own copy. I'm now caught up to where I was but I've gained more insight on the second-reading. It spells out information risk vs price-risk very clearly but I somehow missed that the first time reading it and its one of the issues I'm dealing with this week.
@7:49AM CST - Huge spike up from ~2872 to ~2885, probably due POTUS getting on Twitter, coming right back down. Now we're back in choppiness.
@Opening-Bell - Common theme this week is everything seems to be happening too quickly for me which tells me I'm sitting waiting for more information and confirmation. This is beyond being patient and more a divergence from the sim environment. I Need to snap out of this so I will plan ahead. I believe we will test up higher, though I'm not bullish. I think ideal scenario for me would be a test up to pClose around 9:00 or so, get in short and lean into what hopefully is a lot of resting-orders short in that region.
Another scenario is a push down to ~2878.00 and then we go long, I just need a couple points.
progress towards challenge goal
$500.00 profit goal.
$ achieved.
$0.00 current drawdown
0 trades of 10 entered.
I need (/) = $ per trade to hit my target.
current expectancy for cycle is0 ticks
J/K...It doesn't seem like you initiate on impulse that often. Not that it needs to become habit. Nice cycle btw. I'm thinking about adding 
