Ok, again out too early. I saw a couple of good entries, but I didn't wait for the proper areas. The good thing about this 3 trade maximum is that it will fix me to actually want to continue and play in the game as I will surely get tired of blowing my trades too early. Took me a while to figure out where we were in the mix and that is why I was a bit too fast on putting trades in.
BE PATIENT.
I continued to play with entries and for some reason I can read 1 point moves, but anything more is just a guess. I have been falling farther away and I think that is due to my workload.
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Blue, sorry to ask but i tried to import the anammacdbb indicator into NT 6.5 that you posted several pages back but get several errors with them when i complie the indicators. Would love to get that MACDBB. Without disrupting this journal, any ideas?
You can download the 6.5 version macdbbline right from Big Mike's download section. Also you can go to the Ninja support forum and download it (MACD Bollinger Band Lines) from the 6.5 indicators on page 9. I'm not sure if Blue uses a different version or not than either of the ones I mention.
Wow, thank you for putting a nice setup right at the open. A guy who likes to blow his trades quickly loves those!
Ok, obvious I didn't hold long enough. Looking at the 4181 I could have held much longer.
Due to the up up up in February where there would be HUGE separation on the 4181 and 1597 but it would still plug up has caused me to 'ignore' that and take my points where I can get them. However, if I were exiting off of fibs or other price action it was way too early still.
Took 1 trade, short again. Also, I was a bit off using overnight data as it put my fibs off just slightly as well as the nice double bottom. I will watch that more in the future.
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It looked so very weak I had to take that short. I didn't expect that bounce up though, but I am glad I stuck with it. It was a 23 retrace down and figured it would not go to the deep retrace. It also never hit the 50 which I found strange and probably had my target off?
The strange thing is why did the market go up so much today. All indicators were not screaming long and the move up really has me perplexed. As Horst says, there is always a reason!
Anybody know why it pivot where it did for that strong of a move?
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That's one of the reason i like to analyse the Market Profile and am learning to incorporate it in my day trading decisions. It gives you some clues about what's going to happen next. Market profile is the modern version of tea leaf reading for traders
Seriously, you can have a look each day at these two sources:
To get a feel of what the day might be. Also, Mirus provides a free service where you can get different scenarios depending where price is trading. See picure...
