Great point. Thank you. It is naive to compete with MIT and Stanford grads with big company accounts without a solid education and plenty of experience. Hey, but that's me. Please wish me success anyway.
Ok, Market Replay since the Tsunami alert kept me awake all night. I will and would not trade this day due to the large split between the two contracts due to rollover, so this was more for practice than anything close to reality.
I was looking for a short. I didn't get it. I got a small one, but I didn't end my trades at 3. Had I done that I think I would have been a half point profitable, but that was not my goal.
It did retrace but at the long term 23% retracement. There were a lot of pullbacks and I couldn't figure out which one to place my retracement off of to find that 23%. It was also close to a 100% extension, so had I traded my non-76/89 only way I would have probably hit that one, but probably would have given many gifts along the way. Better to take a point down than 5 points in my opinion.
I would not trade this day for real live as I don't like these rollover dates and especially considering a friday and the earthquake etc..
Video
The following 2 users say Thank You to bluemele for this post:
Yes. HLC bars which are not default in NinjaTrader. So, you have to add the "close" part through a 1 SMA charted as a "dot" and "open" so you can see price.
It hasn't been asked. Good luck.
The following user says Thank You to bluemele for this post:
Only 1 real trade today at the 76, but I decided I knew better. Not good and very frustrating as I get only 3 trades and I used them all up at the 50% and 61% retracements!
When will I decide to stop doing that.....
Had I taken all entries today, I would have been up at least 3 points by the way. However, it would have been about 7 trades. The 3 trades is keeping me from over-trading and pushing me to wait, but I am still not waiting.
Not the method's fault, strictly mine if anyone asks.
The following 3 users say Thank You to bluemele for this post:
You might be a natural born scalper. A very successful trader, Ed Abreu, said he can't wait for counter trends. He WANTS TO TRADE NOW! Check him out at protradered.com. If you trial his trading room and indicators, please tell him Orin sent you.
The following user says Thank You to HighRise1202 for this post:
Well, thank you and it is always encouraging to share your journal and have people recommend another system. haha.. Seriously though, I realize you are trying to help.
I will stick with this until I 'breakthrough' my bad habits and move forward.