I had a small experience like this today. Where I was totally self aware of my emotions, my thoughts and even my decision making process. I actually made a decision about making a decision while in this mode. It was surreal.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
I think Henry got himself into a jam. To cover the debts he stole from new investors. That must have been a huge temptation.
Your video today...I always seem to learn something...alerted me to the benefit of recapping the trades at the end of trading. Big Mike's comments on being honest and accurate are also inspiring along those lines.
The following user says Thank You to HighRise1202 for this post:
Well, interesting day for me. Today was an experiment (which I would have done on my live account unfortunately).
I read the long term PERFECTLY. I read the short term TERRIBLY!
I kept waiting for a breakout and then blam, let's go! Woohoooo!!!!
Nope, didn't happen. Why did I assume the market would 'take-off'? Why do I experiment for long term trades on days that it ranges? This is almost comical. On the days it trends well, I cut my profits, on the days I plan on holding for a very long time it starts to range.
After my first profit trade I could have chosen to sit out the rest of the day. I also had some misfortune with big bars and knocking me out by one tick. Why did I not just trade the top of the channel? I didn't want to 'miss out'.
This is not a day I wish to repeat and a learning day for me, but not one I will do 'sim-live' again. I am happy though that I called the short. I knew it, I knew it, I knew it!
That feels really well as I feel like in Golf I got my long woods working for me. Now, I just need to work on my short irons and putting. Often it is the other way around.
I was a bit frustrated with myself, but I have already let that go. This is the journey, I am not perfect, I did my best and I will continue to do so until I reach a point of prosperity.
video (Video still being processed, a long one)
The following 2 users say Thank You to bluemele for this post:
Today, there was a short that occured just after 10:30 when price broke the Low of the first hour followed by a quick retest ending with a 'W' pattern with some trapped traders. Starting point of a change of polarity. Those traders trading pure demand and supply zones were well served at 14:02 EST when price hit an established area of demand.
The following 2 users say Thank You to trendisyourfriend for this post:
Don't want to disrupt bluemele's thread but basically when i see a failure that occurs at an extreme or any type of failure as a matter of fact, i consider this as a remarquable event or something to take note of. The demand zone was first established when price failed to make a new Lower Low (LL) but most significant were the trapped traders right at the bottom followed by a wide range bar confirming the 'W' pattern. Trapped traders followed by a wide range bar are typically a sign of a change of polarity or mark a significant change in suppply/demand. In other words, a place you want to remember if price visits this level again.
This zone was tested before 14:00 Est. but when it retraced again to this area we could positively assume it would hold. I do not usually trade exact level but rather look for a candlestick pattern like a pin bar/engulfing bar when price makes a repeated visit to an area of responsive activity like it did today.
The following 3 users say Thank You to trendisyourfriend for this post:
Maybe if you had charts like mine you could see that we had nice Divergence on both lows, I also had Fibs in the 695 area and 1180 for ES so this was a must buy for me as this was what I was waiting for.
The following user says Thank You to Larry for this post:
