Thanks to my wife for her loving support. Thanks to Brain Zimmerman and Lance Beggs for their friendship, support and coaching.
"The world aint all sunshine and rainbows. It's a very mean and nasty place and it doesn't care how tough you are, it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain't about how hard you hit, it's about how hard you can get hit and keep moving forward...how much you can take and keep moving forward. THAT'S HOW WINNING IS DONE!! If you know how much your worth then go get what your worth, but you have to be willing to take the hits, and not pointing fingers saying you aint where you want to be because of him, her, or anybody. Cowards do that and that aint you. You're better than that". Rocky 6
Tuesday, November 30, 2010
11-30
Results:+14
Today was my daughters 5th Bday so the day was busy for me and spent most of the time off screen. I did find some screen time in the early afternoon. Took 2 bullets to make this trade work. first attempt i didn't give it much room and was was clipped for a loss. I re-entered and was able to revive the trade.
Monday, November 29, 2010
11-29
Results: +23ticks
today i held the bad trades longer than the good trades. My exits were off today, but my read was good. Market opened a little stretched to the down side so my plan was to go for quick targets if I felt flow was not in my favor. Im still working on my exit style and adjusting from the TF market where momentum is stronger. The YM I have to learn to be a bit more patient with.
Ok enough of that broken record. Lets talk structure. After the market move down expect price to slow down and consolidate. Picking bottoms is too hard for me so I look so see how these lower levels react when price approaches them again. The focus is on where late shorts (in this case afternoon session) end up
in trouble. The morning session i felt the market had a little more room to go and expected a attack of a lower level (10970 YM). Once that level was hit I start to look for signs of a bias change which happened in the afternoon session.
My worst trade for the day was the second to last trade. What bonehead idea. The area was too early to hit and i knew that going into it. The issue i have with this trade is i held it too long knowing that if i didn't get the surge i need to get out fast and wait for it to reset which it did later. My last trade was a good trade because I could see the bias changing from failed action moves to the down side and shorts were beginning to get in trouble. Of course the entry was great but the exit was bad as I over managed the exit.
Taking the day off tomorrow to hang with the family.
today i held the bad trades longer than the good trades. My exits were off today, but my read was good. Market opened a little stretched to the down side so my plan was to go for quick targets if I felt flow was not in my favor. Im still working on my exit style and adjusting from the TF market where momentum is stronger. The YM I have to learn to be a bit more patient with.
Ok enough of that broken record. Lets talk structure. After the market move down expect price to slow down and consolidate. Picking bottoms is too hard for me so I look so see how these lower levels react when price approaches them again. The focus is on where late shorts (in this case afternoon session) end up
in trouble. The morning session i felt the market had a little more room to go and expected a attack of a lower level (10970 YM). Once that level was hit I start to look for signs of a bias change which happened in the afternoon session.
My worst trade for the day was the second to last trade. What bonehead idea. The area was too early to hit and i knew that going into it. The issue i have with this trade is i held it too long knowing that if i didn't get the surge i need to get out fast and wait for it to reset which it did later. My last trade was a good trade because I could see the bias changing from failed action moves to the down side and shorts were beginning to get in trouble. Of course the entry was great but the exit was bad as I over managed the exit.
Taking the day off tomorrow to hang with the family.
Tuesday, November 23, 2010
Monday, November 22, 2010
11-22
Results: +23 ticks YM
the pace of the markets today tested my patience. I missed the bottom
support trade in the afternoon. Nice wash out trade. I looked for a way to get in
but didn't like the entires offered for a continuation set up as stop placement was a concern
Friday, November 19, 2010
11-19
Results: +42 ticks YM
Much better on trade count getting that number lower and being patient with the set ups. Entries where much better today but the exits were a bit random as the price action stalled a lot. The 2nd trade of the day was the trickiest and I bailed on the trade which ended up working. For this blog im still working on the layout. I usually don't add to many lines on my smaller charts, but at the end of the day it helps me understand more my thought process. The past few days trade were hard to post due to how sloppy the charts were. Too much time to clean them up. They were profitable, but the trade execution was too many as I getting a rhythm back.
11-18
Results: +30ticks YM
Good read at the open but once again just a bit too aggressive to get in during the whole session. I need to slow it down and execute when the patterns confirm my direction. Need to also focus more on the trading time frame. I will slow down and execute clear set ups in areas I expect the market to produce results. This is important for my discipline when I go live. Still working on the calming down part.
11-12
Starting to get a rhythm back but need to clam down a bit on the executions. Like a new toy I feel the urge to tinker with possible set ups which leads to forcing setups.
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