ES market is in a critial area of Fib 50-61.8 % daily chart retrace. Bulls and bears are fighting and pushing price up and down voliteally. Over night took out Vader's swing short which had 10+ points.
I missed another good short call from 1219 to 1208. Need to get ready to take these calls as they often have good risk/reward.
Improved emotional management during trading. Much more calm now. Still need to work on stop lowering target in panic exit. Let stop order work. I missed too many full target trades.
Wednesday, August 31, 2011
Tuesday, August 30, 2011
Trade Journal 8/30/11
A slow day for me. BB3/PB setup has not worked well for the last 2 days. Need combine it with Fib level bigger trend lines and other conflences to increase its odds. I am getting calm to put on orders now, win or loss.
Missed Vader's swing short at Fib D 50 level and trend line. He had 15 points in less than 30 mins. I wasn't focused and it was the last 30 min of RTH.
Missed Vader's swing short at Fib D 50 level and trend line. He had 15 points in less than 30 mins. I wasn't focused and it was the last 30 min of RTH.
Monday, August 29, 2011
Trade Journal 29/8/11
Monday, O/N up to R1, Oversea markets up too. Grinding up from get go. Had 5 trades in ES but none of them hit my tgt. Being a tick man once today. Didn't expect ES to grind up all day. Preset bias limited my ability to take long positions on Fib PB. It's a very symmetrical movement today.
I didn't activate One&Go today. Was hoping to enter it with a pull back which didn't happen.
Managed E7, DX and M. wheat positions. setting initial stops for my new positions too close. I still have fear of losing.
Be cautions on Monday and fairly calm. Nothing to write home about.
I didn't activate One&Go today. Was hoping to enter it with a pull back which didn't happen.
Managed E7, DX and M. wheat positions. setting initial stops for my new positions too close. I still have fear of losing.
Be cautions on Monday and fairly calm. Nothing to write home about.
Friday, August 26, 2011
Self Discipline
"You may see both your best friend and your greatest enemy by stepping in front of a mirror" (Napoleon Hill)
"If you do not conquer self, you will be conquered by self" (Napoleon Hill)
"Before you can control conditions, you must first control yourself. Self mastery is the hardest job you will ever tackle" (Napoleon Hill)
In "Think and Grow Rich" one of the biggest obstacles to overcome in order to be successful is the lack of self discipline
Twittered by Cliff_WilliamsCliff Williams
"If you do not conquer self, you will be conquered by self" (Napoleon Hill)
"Before you can control conditions, you must first control yourself. Self mastery is the hardest job you will ever tackle" (Napoleon Hill)
In "Think and Grow Rich" one of the biggest obstacles to overcome in order to be successful is the lack of self discipline
Twittered by Cliff_WilliamsCliff Williams
Trade Journal, 8/26/11
GDP news and Mr. Bernanke speaks. Expect high volatility. I will stay out of equity market today. Only manage my other positions.
ZC finally had a good run, it seems respect hourly trend lines well. I exited out my long based on R line. I was afraid it won't reach the hourly trend line. It actually did push through. Well, it's the sellers remorse.
ES have had a 45 points wild up and down run. I didn't touch it although it had couple of BB5 setups and would be winners.
I canceled 6E buy order because it moved up and down over 150 ticks and it's weekend. It's a winner so far.
Over all, I am disciplined today. Lessons learned from yesterday.
ZC finally had a good run, it seems respect hourly trend lines well. I exited out my long based on R line. I was afraid it won't reach the hourly trend line. It actually did push through. Well, it's the sellers remorse.
ES have had a 45 points wild up and down run. I didn't touch it although it had couple of BB5 setups and would be winners.
I canceled 6E buy order because it moved up and down over 150 ticks and it's weekend. It's a winner so far.
Over all, I am disciplined today. Lessons learned from yesterday.
Thursday, August 25, 2011
Trade Journal 8/25/11
Need to respect trend lines, especially hourly and daily lines. Also pay attention to S/R line and area.
Lesson learned from yesterday's ZC trade.
Another up 100+ down 100+ day. I was calm in the morning. Missed Vader's NQ call, a big winner.
I need to build confidence for Vader and Huddy's calls.
Price actions are wild today again. the first 2 BB3 were stopped out. I switched to BB5 min. Took another loser on short, price action is pause and thrust. I noticed the sign but didn't pull my order.
When in doubt stop trade. Look for confluences.
Over traded the last hour after a system glitch took out my stop loss order and pushed reverse button at top of the range. After the reversed order failed. I noticed I had reached my daily loss limit of $380.
I was hoping to make something back with a BB5 setup. I didn't believe my setup could make all losers in one day. It did. This is in the last 40 minute of market.
Nothing to fear except the fear itself. Find out the root of fear in trading.
Lesson learned from yesterday's ZC trade.
Another up 100+ down 100+ day. I was calm in the morning. Missed Vader's NQ call, a big winner.
I need to build confidence for Vader and Huddy's calls.
Price actions are wild today again. the first 2 BB3 were stopped out. I switched to BB5 min. Took another loser on short, price action is pause and thrust. I noticed the sign but didn't pull my order.
When in doubt stop trade. Look for confluences.
Over traded the last hour after a system glitch took out my stop loss order and pushed reverse button at top of the range. After the reversed order failed. I noticed I had reached my daily loss limit of $380.
I was hoping to make something back with a BB5 setup. I didn't believe my setup could make all losers in one day. It did. This is in the last 40 minute of market.
Nothing to fear except the fear itself. Find out the root of fear in trading.
Wednesday, August 24, 2011
Trade Journal 8-24-11
After yesterday's 300 point run, over night was in range bound.
Morning trade has been rough around 10am news release. Had 2 trades from Vader before and after the news release. the news was better than expected and markets jumped. Both of my trades were stopped out. Then, I caught a Huddy's top short call for 3 Ps and recovered all of my loses. He had a trailer for 10Ps. I need to learn to be more patience. Later, Vader had a call to long after D low and Fib 62 test. I took 1 p but he had 3-7 ps. Why I am nervouse about short terms trading of $60-100 loses but calm with loses of $500-1000 for swing trades? Is it because who makes the entry decisions?
My early DX long for hedging 6B worked. 6B is under water now.
Morning trade has been rough around 10am news release. Had 2 trades from Vader before and after the news release. the news was better than expected and markets jumped. Both of my trades were stopped out. Then, I caught a Huddy's top short call for 3 Ps and recovered all of my loses. He had a trailer for 10Ps. I need to learn to be more patience. Later, Vader had a call to long after D low and Fib 62 test. I took 1 p but he had 3-7 ps. Why I am nervouse about short terms trading of $60-100 loses but calm with loses of $500-1000 for swing trades? Is it because who makes the entry decisions?
My early DX long for hedging 6B worked. 6B is under water now.
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