Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Friday, July 21, 2017

Quick update

It's been a week since my last post. I haven't really had time for posting and I don't today but I'm squeezing one in just because I want to and have about 5 minutes.

A few weeks go I had my best week ever. Then I had nothing but back and forth and then some draw down. Lots of frustration for me in this time period. I've been working 10-12 hours a day making decent money but honestly less than if I just followed my trading plan and rules like a boss. Still I'm grateful for it.

Late last week and this week, I've recovered most of the drawdown and very near new equity highs again. It's been a slow slog through and while I'm glad for the recovery, I wish it were faster. That said, I am approaching or at least it feels as though I am, a place of detachment concerning the outcome of each trade knowing that if I just do it long enough, the law of large numbers will work in my favor. I'm also trading less than before, 1-3 trades a day for the most part and I like that even better.

This project I'm working on appears to have some legs and so I'm going to milk it for as long and as much as I can. Who knows what the future holds.

Cheers.

Friday, July 14, 2017

Profitable but....

Tough day for trading....I managed a decent day overall but not because I was good....I think I got lucky mostly...Still I will take it.

No time for in depth discussion today....charts tell the story...two 100+ tick trades today on NQ possible...I got 80 out of 200 possible....oh well...




Wednesday, July 12, 2017

Sheesh X 2

I sat down at the computer just as both CL and NQ broke and ran up. No pull backs to get in on....had to let them both go. My heart was sick.

On CL, got long just after inventory. -1%. The subsequent collapse offered no reasonable place with acceptable risk to short even thought I knew it was going straight down. Again, had to let it go. Done with CL.

On NQ, kept seeing weakness at the premarket highs after the initial run up. The opening range high held and held. So I eventually sold it very near the ORH expecting a nice collapse similar to CL as we are near the top of the trend channel.Nope. Full stop out. -.50%. Shorted one more time, same result. -5%. full 1% loss today on NQ. Instead, it just started grinding up, essentially a full trend day with lots of sideways movement in between algo bursts higher. Wasn't around for the middle part of that but its just grinding away at the top of the daily trend channel.

All in all, a complete bust today.

No pics today....

Tuesday, July 11, 2017

Sheesh....

Video says it all....

On a different note, I've started intermittent fasting along with some MCTs, ACV and a some other things to get some of the weight off. It's been two days, already lost 6.5 pounds. Its not painful (yet) and there is a ton of science to support the idea. I've never been able to fast due to low blood sugar issues but this works for me. Eat my last meal between 4:30-5:30 in the afternoon and eat my first meal around 9:30-10:30 in the morning. When I get up, some bullet proof coffee which I didn't think I would like but its very yummy, an ACV concoction 30 minutes before my first meal and presto, I'm fasting about 16 hours a day with no ill side effects. Its almost magic.

I know there is a lot more to learn and implement but for now its baby steps. I want to develop this habit and routine before adding the more complicated stuff.

Cheers.



Monday, July 10, 2017

Buy and Hold

Well I made money today...and I made a decent amount...1% I think...which is fine...BUT I totally screwed up the read and the execution. I should have just bought and held!

On NQ, I was short early and it was a nice trade, Had I held it to the LOD, I think I might have been done at that point. But I exited at Friday's POC which was a nice trade. However, I was really expecting it to go to Friday's HOD and then bounce which it did but not until after some crazy swings at the open. I actually bought Friday's HOD and POC level but I took it off at 20 ticks because I didn't believe it would launch up like it did. Afterall, price action was directly into over head resistance. I was unprepared for that. However, once it started showing strength, I bought it twice more, each time for only 20 ticks, again because I was unconvinced of the true strength of the upward move. To be fair, I still not really convinced it was real even at this late junction. So I made 80 ticks on NQ when there was 228 ticks to be had.

On CL, I bought and then closed it immediately, then bought it again on the test of the lows where it held a perfect fib 78.6pull back level. I bought it at the inside break level and of course closed it right away. I thought it was going down. Afterall, it had rejected at the Friday VAL low level which is what it was supposed to do in a down trend. So I resold it again at the VAL and again at Friday's POC, both losers. Then I wanted to buy it at the ORH which it often retests after breaking out, no fill and I then just walked away from CL after that.

So 80 ticks on NQ and - 20 ticks on CL for a net 20 ticks. Yes profitable today but seems like such a waste.

I think I overthought it. Instead of just going with the flow, I made assumptions about the firmness of VP levels when in fact, they are just that, levels subject to breakage. Price action and order flow at the levels are the key. I'm not proficient at that yet apparently.

Still I'm on a three day win streak. Haven't had that in a while.

Cheers.