Yes, indeed. The 50 is a tricky retracement as it is typically a bigger area to decide to get in which I seemingly forgot and I didn't wait for a bar setup. My fault, my stupidity at that point, but I knew it when I did it and part of me tried to pull back my finger from clicking..
The picture at 825.50 looked identical to the previous entry to me. So, I thought, this could be one of those days of up up up...
Then, when the bar setup happened it had already dropped a bit and I thought, I will wait. I think the best setup is where I placed the marker but didn't take the trade. That was pretty clear.
On the last trade, I agree. I honestly didn't look at 144 as I was focusing on another chart then jumped in and it had already run down too much. Just the way it works sometimes.
Thanks for the insight and I appreciate it.
Trade #1 I am ok with
Trade #2 was stupid
Trade #3 was not waiting for bar setup
Trade #4 (I didn't take it!!! Darn!)
Trade #5 (You are right, but I was asleep at the wheel)
I didn't do any good on Friday. I was so hungry to trade so I used all my four trades withing 20 minutes and then then I was just stupid clicking for another few hours. I know that it's bad and you can get bad habits doing it, but I just wanted to let it out and click it as many time as I want.
What I really wanted to say that I never told you to go short when 987 is on the rail to the upside. And to get into continuation trade you should see trend to continue first (not in choppy condition without any direction). Continuation trades are good if you missed entry and get in on the weak pull back to the mid band or even add to your position.
I will probably start my thread next week and post my trades. That way we can learn from each other. (You are gonna see a lot of your mistakes in my trading)
Thanks again! You are doing a great job on your videos!!!
The following user says Thank You to vovan348 for this post:
Yes, I saw the 987 on the rail as well. I was overly aggressive, not blaming you, but did change my style a bit, but not a bad thing as it takes time to learn to get in on continuation trades. Something I used to actually do but gave up because I would end up giving so many gifts...
I think something you said has me thinking to that instead of always trying to hit the pivot, that unless the picture is 100% AWESOME to just relax and hit the pullback for the picture to clean itself up some.
I am excited for your thread. You know what you are doing.
@vovan348 about the clicking!!!! Yup, I did the same thing the other day! Just click click click and well a little bit of cussing at the screen, but just to get it turned on, nothing hateful. haha...
The following user says Thank You to bluemele for this post:
Well, you could start by checking your PnL for this thread. Go over charts, use market replay on various kinds of days etc...
I am not judging your performance, or system for that matter, I just thought I'd voice my opinion.
One thing that has struck me while watching your videos, is that you devote so much of your screen real estate to your indicators, and barely a quarter to price itself. I could never trade without "looking left" for some reference points... A daily chart for major S/R also helps..