Ok, went back to original charts, was able to get to almost BE. Last trade of day, took a trade that matched my signals, was positive closing but only by .5 points. If I could have cashed out high, would have made 2 point profit, thereby being positive for the day. My thought on the closing was that the volume would pick up and drive it higher in the last few minutes. But this wasn't the case, instead it closed down on the day but I got out of the trade at profit.
Frustrating day. Will be reviewing data and charts. Added high/low volume indicators to the bars in Perry's chart to see where big money comes in and also where the amateurs are playing it.
Was able to pull another point out, but now the range is just so narrow I'm scalping to get anything. Just seems to not be worth it to me to trade right now. Bollinger bands show three quarters of a point difference. Will it stay like this for the rest of the day? I see minor breakouts here and there, but nothing close to a pull point and they don't last more than 1 ticket for a quarter point gain or so.
Last edited by JohnnyAustin; January 21st, 2011 at 02:23 PM.
Dropping Perry's method. I can see where it is good, but alot of fluff that I feel I don't need. Since using it, racked up big losses and I'm, to put it bluntly, pissed. Not at him or the method, but at myself. Focusing on this or that, changing this or that, and adding or removing this or that has REALLY thrown me off my game. I found something which worked for me and I decided to F with it, to my detriment.
When I had my trading method and applied it, I had a long gain of 48.5 points in 2 weeks. When I switched and started messing around with it, playing with this or that, I went to hell with a quickness.
Back at my original method. Had a short profit of a quarter point...had to wait due to work before getting in on next trade. Didn't want to enter mid-trend just to have it end. Found an entry point, made the trade, gained 5 ticks.
Total gain this morning was, well, I'm embarrassed to give the number of points lost. Regained my calm, locked in thus far 6 ticks. Don't know if I'll break even today, in fact, I highly doubt it. But back to the fundamentals. It is what has always worked.