My Trading Journal: June 2011

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

Wednesday, June 29, 2011

6-28 Trades

6-27 trades

Thursday, June 23, 2011

6-23 TF trades

Wednesday, June 22, 2011

6-21 YM YTC scalper

still working out my YTC scalper technique. Its a work in progress. My biggest problems are waiting for the right moment and over trading. Trade count seems to be high and need to hit key areas or get off screen earlier.
Having some problems loading pictures on this blog and will update asap

Thursday, June 16, 2011

6-16 trades

Get Him To The Greek

While Greece remains unstable along with quadruple whitching, sideways markets, QE2 ending, and whatever else is playing a drama role , the charts have kept me on my toes.

Wednesday, June 15, 2011

6-15 trades

Thursday, June 9, 2011

6-8 trades

tight range after a controlled sell off that started on 6-1. It been a long time since Ive seen a controlled sell in this market. For the past 2 years any type of correction would be short lived.

on the micro side of things todays tight range trading was based on failed moves.I believed the market was stretched into support and momentum was slowing. I switch to the YM to keep risk lower in this type of market condition.

Friday, June 3, 2011

6-1 market and trades

note on the ES chart that was not a short term bottom. Market put in a tight congestion and then another leg lower to 1295 on the ES

Notes

"You don't need much more confirmation. It's a low risk entry, with greater profit potential, in the direction of your assessment of market bias. Take the entry and manage whatever happens" - Lance Beggs

"Think strength/weakness in the price action, rather than patterns." Lance Beggs

"Don't rush into trade entries. Identify weakness. Identify trapped traders. Fade the weakness and be a part of the orderflow which springs the trap." -YTC

"My job is to understand and locate market direction, work off key areas for entry, manage the risk, and have a basic understanding of odds/payouts to structure a statistical edge over large samples:

FOCUS is on attacking directional scenarios, executing off key areas and manage risk." -PTE

The reality is that... YOU ARE THE REAL EDGE.

Your implementation of your plan is the true determinant of success or failure.

Many traders know what to do. The challenge is doing it. The challenge is to operate in the environment of uncertainty with productive thoughts, feelings and emotions, to ensure our actions are those which maximise the potential edge within our trading strategy.