Quick post (officially still on blogging break) for D's sake.Green arrows show where I've entered LONG. Pink arrow shows where I've wanted to place another LONG entry but didn't. Was starting to lose focus (been staring at charts the whole day, and haven't taken my nap) and didn't want to push my luck.
Closed my trading platform before I decided to put up a brief write-up. So, no capture.
1st trade: 6 ticks/contract
2nd trade: 8 ticks/contract
Hard Stop for both trades: 8 ticks
Total no. of contracts traded: 10
Total for the day: USD 875
Will resume posting daily in June.
22 comments:
Nice trading Jules.
You've inspired me to start my own blog...i'm just not sure if that's a good thing or bad thing! LOL
That's a nice bit of green. You and lonely are funny. Not blogging indeed :P
LT
Jules, admit it, you're addicted to Blogging and cant' stay away :D
Daytrader,
Yes, please start a blog! We need more addicts!! LOL!!!
LT and EP,
I MOST DEFINITELY AM NOT ADDICTED TO BLOGGING!
I'll start talking to Alberto from tmrw on...
nice gain on 10 contracts =)
Am I cool now that I have a blog? How about good looking and popular? :/
..btw, nice catch! :D
But still not anywhere near my target yet, Ryan :-) I've always wanted to trade both sessions but noticed that whenever I'm active in the morning, I lose my focus and energy by the after lunch session. Looks like I really need to start working out at least during weekends. 16 hours a day everyday in front of a screen is starting to do quite a bit of harm...still not blaming it on nicotine LOL!!
:-) MVW,
More importantly, wise as a serpent and gentle as a dove....
Are we still talking about cavemen?? LOL!!!
Welcome to blogging daytrader233, i am also a product of the same inspiration.
Jules, nicely done today, price moved as you predicted from the start, :). I like 7-12 tick stops since the maximum loss is predefined when price runs away from you like Usain Bolt. Also, when price isn't sprinting, there is often enough room to scratch.
Concerning the 16 hours long staring at the screen, and losing focus, maybe you can take big breaks in-between to clear your mind. I personally cannot keep up with the market by constantly looking for opportunity, as I need breaks to clear my head to review what I did right and wrong to reset my game plan (which resets my vision).
Nice trade Jules, it's always nice seeing profits at the end of the day after spending so much effort analyzing the charts! Haha..
Btw why didn't you enter on your pink entry arrow? Both bullish engulfing look pretty strong based on the candlestick..Am I right?
Do you trade PA using prely candelsticks formations and support/resistance line w MA as your trendline?
Am sorry if I am asking a stupid question here.
Still a learner of the market.
Thanks.
Ed,
yes, 12 ticks is to avoid those nasty sweeps...8 ticks feel a little tight still. If I want tight, I might as well go for 3. Yup, am starting to think either 3 or 12 LOL!
I don't constantly look for trades. In fact, I give myself a lot of reasons not to enter a trade. I look at static and moving charts at different time of the day for various reasons other than to find trades :-) As a matter of fact, I think I under-trade! :-)
Hello Sniper,
No questions are stupid. I didn't enter on the pink arrow coz I wasn't sure I hadn't missed anything - overhead resistance, traps, etc - I was feeling worn out mentally and physically and I didn't want to have to manage a trade that didn't immediately go in my direction. Above all, I didn't want to risk any of my gains to find out if price's indeed taking off. Patterns can fail :-) Some days, I just don't feel like I have the energy to go for more. :-)
Miss your daily posts, Jules!
Nice going J, surprised you like Infinity, I found their DOM substandard compared to anyone of these - Ninja / OEC / CQG / TS.
I swear I saw a 5/8 post?
Miss your daily post too Jules.
It's like becoming a daily habit for me to visit your blog!
Cory,
I'm sure you did, on Aug 5 2008. You tickle me! :-)
Sniper,
I just noticed what your question was. My apologies. Yes, I watch candlestick patterns. But I'll trade only the few I trust (not all "popular" reversal & continuation patterns "work" on the ES - that's my experience) - in a downswing they'll be the bullish engulfing/belthold, harami (especially if the 2nd candle is an inside bar), piercing; in an upswing, none; after an extended rally, the bearish engulfing / belthold & dark cloud cover; after an EXTENDED downtrend, a hammer.
Yes, I watch how candles close at support and resistance including those from trendlines. I don't use the EMA. It's there just in case I want to trade an MA setup. I don't even notice it's there half the time.
I also watch the tape (aka market depth, level II, DOM) - that's usually for entries and exits only.
JE,
Now I can catch up on my reading..I've missed quite a few posts by those on my blogroll :-)
Sandy,
The others are too sophisticated for me...the AT platform meets my need for something extremely simple and idiot-proof :-)
Wooh, thanks for answering my queries Jules..Haha yeah I too use candlesticks in my trading and I find them to be accurate in analyzing price.
However I don't seem to be able to understand tape reading(properly too profound for my level). Hahz..
Thanks for sharing anyway! :)
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