Again, another day of failing to pull the trigger too many times before I realized I was being ridiculously foolish.Highlighted in pink were the signals I acted on (finally). Was telling D to stop selling after that long bearish candle that punched through support. D was indeed going to go short on TF, and was surprised that I read his mind. Anyway, after telling him to stop selling, I started looking out for a signal to go long. It came. And I took it.
And D went long on TF too at the same time, and was relieved and happy to get out with a profit instead of a loss. He would have sold right at the bottom had he not been warned...which means I'm probably going to be able to get away with not doing his laundry for the next 2 weeks. Hur hur hur....
Went long on the ES again after it closed above the downsloping channel and after a spinning top failed to send it back down.
After price broke above 870 and closed strong above it, I did consider going long after the small bearish candle. I didn't, eventually, and waited to see what was going to form after that. Price consolidated, and simply couldn't close above grey downtrend line. D asked if it's a bull flag. I told him even if it was it could very well fail, and that it's better to look for a sell. As for me, I wouldn't be looking at any longs before price falls back to at least 865. It's the time of the day that price wasn't going to do anything spectacular anyway.
Am going to take a cold shower to clear my head. Returning for the 2pm session.
6 comments:
Great reads on the PA Jules! Nice trades. Good luck this afternoon.
Jules,
Way to fade the panic.
LT
Hell ya, Jules. Very shark like. I love it. :D
:-) LT, congrats on your positive week!!
Daytrader: Thank you :-) Afternoon wasn't so good after all..missed the break out of channel and simply couldn't chase price up...and then after that price started crawling again...yawn...hope you had a good day.
MVW,
I like your leisurely pace - you did really well this week! Too bad I can't hold a trade - holding drives me crazy :-)
Nicely done. Have you played around with AT's Multi-Bracket feature. You can set it up to get you out of 1 contract at X amount of ticks/points, and then automatically move your stop-loss to break-even, etc. Might be a good way to squeeze more $ from each trade (exit 2 for small profit, and leave a runner on to see how far it goes).
Hi EP,
Yes, I've used the feature on Ninja trader, and didn't quite like it. I've also played around with AT's, and I still don't like it. I can't really explain why....I guess my positions are like my babies - I don't like leaving any behind. If I've gone in with 5 contracts on a high probability setup (for me, that doesn't necessarily translate to price going in my direction for 10 points - it simply means that the chance of it going my way immediately is good enough for me to want to jump in), I'm not going to risk having even one of them merely breaking even. :-)
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