CL05-11 Trading Journal (03/21/2011) – A Break Up From The Inside Day
Please find attached the 3/21/2011 journal.
Although, I had a little trouble with rollover this morning - I was doing wrong - I wanted to thank the members of The Big Mike site for sharing their problems, solutions and views on handling the rollover more efficiently. This helped me a greatly in understanding and implementing rolllover during volume cross-over time.
Last edited by spartacus; March 21st, 2011 at 08:31 PM.
The following 2 users say Thank You to spartacus for this post:
I found out in your trades, that nr.5 is the same as my 3rd trade , 2 ticks difference. You put many clever clues in your reports,which helps me better understand what could be a cause of this and that.
And this is for me the hardest part of trading, to know when and what to do.. I always look only for potencial signal, I dont care much about what type of market mood is currently on.
Today’s upper references will be the overnight high and after that the 106.68 daily resistance area. I’m more likely to stand aside and let the market carve out its territory before taking trades. The market will need to decided what to do and then to define its borders around that decision - if the market shows a strong drive up or a strong drive down, I’ll buy the pullbacks; if the market begins to balance, then I’ll start to look for areas of weakness in order to fade the extremes, or, if there are sub trends within the overall balance then I’ll buy/sell the pullbacks in those sub trends. " *thumbs up* for this.
Good day Spartacus, as I am reading your trading journal, I have a little problem to understand "VALUE" which you often mention.. I am trying to figure out how to define for myself this term, one of my thought is about valued price area, which is visible on more time frames and it might work as a strong support/resistance area. I will be thankful for any clue in this case.