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The crop report for my Ags position come out this morning and it was favorable. My Wheat, Corn and Soybean positions are doing very well and China is still buying tariffs or not. I had a limit to take profits on all Ags today, but did not get filled. I would have moved my target closer, I just forgot that grains close early. I may exit tonight.
My micros indices are doing better today. I also added another CL call at 14c which puts me at max risk for that trade. During lunch I forced an ES, CL and stock ( AMD) news trades, and it was not a good idea!
Here is what I stand at close:
A good day with low stress and one mistake ( forced news trades). I am down $92 on my closed trades today.
You seem to be good at trading both news and EW, both I would not dare touch. I do welcome some volatility but not to the level its in market recently.
I do have one question though, since you trade EW I had to ask. From where I come from, ppl into EW talk a lot about Motivewave, it seems to draw waves automatically and has many support tools for EW users. I read the whole thread and I know you have been in trading world for more than 18 years, so I'm sure you have heard of it. So I want to ask, is there any reason as to why you do not use it? Or have not tried it yet?
Please excuse if little off topic, I just had to ask, gathering info about platforms from experience traders is also part of learning
Hi LastDino,
I do know MW and did a trial in the past. The Auto EW count was not accurate and did not give me an edge. I am not very good with EW but I know there are very good EW traders around here. I did try it in the past, but I could not get clear signals. Almost everything I do now is VSA and/or news. At times, both trigger at the same time and I do well. I really think using two or more reason to take a trade is the only way to go. Of course, I also pray a lot. Especially, when my positions are taking heat
Best of luck with your search and good trading.
I am back working from home for the next few weeks and even make it permanent . I finished trading early today with two good set ups on the ES. Here is the first trade, which was early in the morning. It was an easy trade to take with no heat at all and made target within 5 minutes.
Trade two was not as fast and easy, but it was a clear signal. Low volume on down bars, higher volume on up bars. Then a 2B revs to get me long. It did take longer to target and did take some heat. A bar later China news come in to help. The better target would be Prior close ( which we are there as I post this), but I only wanted my profit target and stop trading. Monday is busy work day and I wanted to be done.
My CL are still at almost full loss, but I am still hopeful and have one more to buy at 30 cent ( additional $30 risk). Again, major middle east development will get those options to $3-5 in no time at all. And we did have new development this morning. My indices swing trade are also better and will continue to hold until rollover ( or stop loss).
I traded well with no stress and no mistakes. I am up $229 on my closed trades today.
