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TF day trading

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  #991 (permalink)
 PandaWarrior 
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bluemele View Post
Short on CL, first long term trade in a couple weeks.

Looks good to go short on ES, TF and others, but will hold CL for now. We will see.

Went short because touch of Keltner channel, some separation on long term MACDBB, a big big big run without retracement, 100% extension from first pullback, Plus 100.00 is considered big number, plus this is a congestion area and a 61% fib.

I am assuming this is a swing trade. Here is my daily chart and while I am not actually tracking the swing trades, I am marking them in real time or at least EOD. Each entry is either an initial or a scale in location for adding to an existing trade.

I thought I'd show you my daily chart just for another point of view. I am targeting the 101 area as a profit target for the entire position. That is the 62% fib area and more or less where the biggest move began.

I won't be looking at shorts until the trend line has broken and a pull back to the MA has occurred.


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  #992 (permalink)
 bluemele 
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Yes, have the same trendlines. I figure it might do a small retrace here, as I am counter-trend 'swing' trading.

Good chart. Something I am just playing with at the moment.

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  #993 (permalink)
 bluemele 
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Went ahead and exited when I closed down my NT7 today. Only 15 points, but bouncing on trend channel and decided I would just be happy with this.

(didn't hold my PT! Sound familiar?) I am tired, heading back to bed after this next post...

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  #994 (permalink)
 bluemele 
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Took a few trades and decided my mind was a bit confused and closed out for the day. I didn't see the best trade (short) and was just feeling a bit tired so I decided to take it easy.

Didn't hold my target (worked out today!) and considered cutting my last short trade to leave me at 2+ points for the day, but decided to not trade for points and just be technical.

Nothing exciting, just day-in, day-out.

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  #995 (permalink)
 bluemele 
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I knew it, I knew it, I knew it...

It was long... Oh, then short.. haha...

Took nice long at open, cut it short early, but I did a better job of holding it up until then. I saw the short on the smaller timeframes, but didn't think it would be that 'short' but I believe fundamentals are playing a bit here. Still in tight wedge on higher TF.

Video

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  #996 (permalink)
 bluemele 
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I took 4 trades and scratch for the day. It just didn't look clear, but seemed long. I guess I was right. But, for some reason I was taking shorts in the hope that fundamentals would sink the market maybe? I don't know...

The longs were hard to get on, but I guess I didn't try all that hard. I was very cautious today as I didn't like much about how the market was moving.

I would have had a more decent run had I held my stop, but glad I didn't as this market just didn't seem beautiful to me.

I did market replay today because there was some drama yesterday where a moped ran over a dog where we do our normal crossfit group on Tuesdays. Well, the dog belonged to a homeless Meth-head lady and some wanna be bad-ass local Meth-head came over and said, "Who hit the dog I am going to f-in kill-em'".

Friends went to go help the dog recover from shock and the next thing I know, the Meth-head dude is punching my friend in the face and pushing him. Next thing I know, I am now toe-stepping with the idiot and he and two other dudes are doing the same.. It was interesting. I was so disturbed by the whole thing that I couldn't sleep. The thought of my kids growing up around multi-million dollar real estate and yet homeless meth-heads picking fights for no reason doesn't sit well with me. ahhhh... Welcome to the real paradise...

Anyways, here is the vid....

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  #997 (permalink)
 ollivermilton 
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your post sounds similar to mine.... funny...
same issue with stops...

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  #998 (permalink)
 bluemele 
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Ok, I slipped today. Normally I would have been done @ 1.5 points for the day and walked away. Well, I said, you know what, I am going to start making 3-5 points per day and I will stay in the game.

Problem was, my stops were just getting hit because I wasn't entering in areas and being patient. I had 3 gifts/stops today by the tick and then got back in. Ouch..

Then, I ended up down 1.2 and started doing and saying things that were stupid (I cut them from the video). I started scalping for 5 ticks, 10 ticks etc.. Just to get back to BE. Today is the types of days where I will choose to be happy and walk away with my 1.5 points and be done after 3-5 trades.

I thought the market was short on the long term (which I think I am still correct in assessing) but the 4181 had a nice separation underneath and I didn't want to go long.

I am doing my very best to hold the trades, but boy, it cost me today and then my mental game goes downhill from there. 1 step forward, 3 steps back.

I need to listen to who I am as a trader and not be anyone else....

Video

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  #999 (permalink)
 lancelottrader 
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bluemele View Post
Ok, I slipped today. Normally I would have been done @ 1.5 points for the day and walked away. Well, I said, you know what, I am going to start making 3-5 points per day and I will stay in the game.

Problem was, my stops were just getting hit because I wasn't entering in areas and being patient. I had 3 gifts/stops today by the tick and then got back in. Ouch..

Then, I ended up down 1.2 and started doing and saying things that were stupid (I cut them from the video). I started scalping for 5 ticks, 10 ticks etc.. Just to get back to BE. Today is the types of days where I will choose to be happy and walk away with my 1.5 points and be done after 3-5 trades.

I thought the market was short on the long term (which I think I am still correct in assessing) but the 4181 had a nice separation underneath and I didn't want to go long.

I am doing my very best to hold the trades, but boy, it cost me today and then my mental game goes downhill from there. 1 step forward, 3 steps back.

I need to listen to who I am as a trader and not be anyone else....

Video

I hear you. I had kind of the opposite problem today. Lost my first 2 TF trades on fakeout support breaks...Was 14 ticks down..Went into a YM trade and got 10 ticks back. Then I entered long on YM at 10:30 and failed to realize there was minor news event..Natural Gas Storage..which normally doesn't move the market..but this time it shot my trade short real quick and I got stopped out.
Now I've had a rule in place only allowing me a 20 tick max daily drawdown, so I switched to SIM after that. Of course on SIM, I end up making about 30 ticks and caught that nice 11 am EST move. So I guess my 20 tick drawdown rule kept me from making my money back.. assuming I would have done as well live. Bottom line, I can almost always win on SIM..Live is another story. Hope you don't mind I invaded your journal thread.

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  #1000 (permalink)
 bluemele 
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lancelottrader View Post
I hear you. I had kind of the opposite problem today. Lost my first 2 TF trades on fakeout support breaks...Was 14 ticks down..Went into a YM trade and got 10 ticks back. Then I entered long on YM at 10:30 and failed to realize there was minor news event..Natural Gas Storage..which normally doesn't move the market..but this time it shot my trade short real quick and I got stopped out.
Now I've had a rule in place only allowing me a 20 tick max daily drawdown, so I switched to SIM after that. Of course on SIM, I end up making about 30 ticks and caught that nice 11 am EST move. So I guess my 20 tick drawdown rule kept me from making my money back.. assuming I would have done as well live. Bottom line, I can almost always win on SIM..Live is another story. Hope you don't mind I invaded your journal thread.

Yes, most people lose their 'game' when SIM. They truly don't know how to keep it 'real'. I did that today and that is why I cut my video. Anybody can make money sim. That is the easy part. Well, most people.......

Of course there is always the issue of getting filled (which I couldn't even do on sim today!)

Scalping on SIM is a paradise and that is why you will find so many jokers pretending to be live doing that. Tough day had by all I am sure....

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