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BRETT'S NAKED IN IOWA JOURNAL
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BRETT'S NAKED IN IOWA JOURNAL

  #151 (permalink)
Elite Member
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brettwilson69 View Post
To many unfilled limit orders, missed trades and early entries but still managed to make a little money.

8 lossers 5 winners +5.50

I need to fix these things.

If you miss a lot of entries with limit orders why don't you try stop orders. For example as I understand you get in the trade when you see two bars closing in your direction. With range bar it's very easy to calculate where it's going to close in your direction. You place stop order tick above or tick below of that bar while it's forming and if it closes in your direction you get filled on the open of the next bar. This way you get 100% fill.

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  #152 (permalink)
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vovan348 View Post
If you miss a lot of entries with limit orders why don't you try stop orders. For example as I understand you get in the trade when you see two bars closing in your direction. With range bar it's very easy to calculate where it's going to close in your direction. You place stop order tick above or tick below of that bar while it's forming and if it closes in your direction you get filled on the open of the next bar. This way you get 100% fill.

With this volatility the stop orders had to much slippage, I do usally use stop orders. Thanks for the question.

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  #153 (permalink)
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Prep 8/12/2011


Today looks like another up day. I'm looking for the ES to extend the 1180 and possibly trade up to the 1210 area. A break of 1182 and we should extend then retest, when it retests look to go along with a failed continuation taking it up to 1210. If we hold 1180 then look for shorts down to 1150 (Macro Bias). Watch for ES to possibly find support at 1165, 1170 50% off last Leg.

I had a pretty good trade yesterday that I'll post later

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  #154 (permalink)
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8/11-8/16 Trades

I had a good day on the 11th and a bad day on the 12th. This week is going ok but I need to wait for the right areas for the market to setup. I've been a little quick on the draw and it's costing me money. Last Friday I keep thinking the ES was going higher but I was trading in a down channel and did not notice it.

11th +7.75
12th -7.75
15th+2.25
16th+6.75

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BRETT'S NAKED IN IOWA JOURNAL-es_09-11_-4_range-__8_11_2011.jpg   BRETT'S NAKED IN IOWA JOURNAL-es_09-11_-5_range-__8_12_2011_trades.jpg   BRETT'S NAKED IN IOWA JOURNAL-es-09-11-5-range-8_15_2011.jpg   BRETT'S NAKED IN IOWA JOURNAL-es-09-11-5-range-8_16_2011-trades.jpg  
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  #155 (permalink)
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8/17/2011 Prep

The ES is range bound between 1202 and 1180. If we make a higher high from 1194 this will become micro bias and possible key level to see if we can push through 1202 and test 1210. If we test 1202 and roll down to 1194 and hold we should move up and through. If we break 1194 then we should go down to test 1180.

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  #156 (permalink)
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7/23/2011

We are still range bound between 1150 and 1120. I need not to fade and trade continuations down if 1150 holds and continuations up if 1120 holds. If we see a lower high or lower low in range look for a break of this range. Targets 1200 up side and 1100 down side.

I will post my trades from yesterday and last week. I've been real busy with my other business.

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  #157 (permalink)
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Prep 8/23/2011

Moving out of the 1120 -1150 range and headed up to 1200 if Macro Bias holds at 1145. If we break 1145 down to test lows of 1100.

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  #158 (permalink)
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8/25/2011 Prep

Today we start the day with an ascending wedge, which is bullish. I still am looking for a retest of 1205 with possible resistance at 1182 on the way up. Possible areas of support are 1165 (micro bias) and 1154 (macro bias) if we break the wedge to the downside. If 1165 (micro bias) breaks we can look for shorts down to 1154.

I still need to post my trades from this week and last week, I had two days with some old habits reappearing, to many trades, not excepting risk and fading the trend.

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  #159 (permalink)
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9/2/2011

This week I've been sick with strep throat but the antibiotics are kicking in and I’m ready to roll. The Es is stretched to the down side, at 50% retracement of last major leg up and gap open. I'm looking for a retracement back to fill the gap around 1201 area and then a continuation of this move down. Key area's 1188 micro bias down and 1201.75 is 1/3 retracement of last leg down and gap close.

I need to not fade the market and wait for key set ups!!!

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Last edited by brettwilson69; September 2nd, 2011 at 12:23 PM.
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  #160 (permalink)
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9/2/2011 TRADES


I missed the big move by a tick and the late move I didn't reenter. One fade lose and 2 stretches -1.25, not the start I was looking for. I'm going to work extra hard at not fading the market bias and taking every trade. I also need to take the time to journal it has made me a better trader and I recommended it to everyone who wants to make this work.

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