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goodoboy
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Everything posted by goodoboy
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Good trade. I have a question. I notice price action stopped around this CLVN 1340.25 area. Why would seller/buyers be interested in selling at this area, if its a low volume area. Is this resistance? Maybe a bit confused cause it did stop there. Thanks
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Thank you everyone is on this forum for the advice, support, and reference materials. As you know I been trading the es for about 5 months now. I trade some simulated and live for awhile and currently trading live. My success so far is under average, but could be better. Learning as I go daily with technical analysis, market behavior, risk and money management. Risk and money management I have improved lot since first beginning, so that's a positive, still working on it daily. Give your advice or comments on what I am thinking to do to make sure I am right track. You all have more experience then me so I ask you. Just share your thoughts on what has worked for you thus far: 1. Continue what I am doing now: learning, look for trades daily and sticking to what I am doing now. I think I am doing fine, just don't take 2. Stop/Start looking for one of these websites that has a defined method/training to trade futures. There are lots mentoring and live trading box website out there. I don't know if they work or not,so I want comment. 3. I am a member of one website with a live broadcasting that trades futures/stock and post live trades for members (fee is very small). I like the website as it has helped me alot with technical analysis and risk management. I will not mention the site name here (private message me for details) cause I respect the owners of the site as they have helped me alot. However, I don't feel comfortable just taking his trades and following like that. His method is pure technical analysis based. He offer mentoring at fee, but I decided to hold off on that option for now until I discover what works for me. Nothing bad about the guy, I just don't like all his requirements for coaching. 4. Find my own trading strategy what works for me and stop searching for others online and continue on with step 1. Thank you all.
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Thank you everyone is on this forum for the advice, support, and reference materials. As you know I been trading the es for about 5 months now. I trade some simulated and live for awhile and currently trading live. My success so far is under average, but could be better. Learning as I go daily with technical analysis, market behavior, risk and money management. Risk and money management I have improved lot since first beginning, so that's a positive, still working on it daily. Give your advice or comments on what I am thinking to do to make sure I am right track. You all have more experience then me so I ask you: 1. Continue what I am doing now: learning, look for trades daily and sticking to what I am doing now. I think I am doing fine, just don't take 2. Stop/Start looking for one of these websites that has a defined method/training to trade futures. There are lots mentoring and live trading box website out there. I don't know if they work or not,so I want comment. 3. I am a member of one website with a live broadcasting that trades futures/stock and post live trades for members (fee is very small). I like the website as it has helped me alot with technical analysis and risk management. I will not mention the site name here (private message me for details) cause I respect the owners of the site as they have helped me alot. However, I don't feel comfortable just taking his trades and following like that. His method is pure technical analysis based. He offer mentoring at fee, but I decided to hold off on that option for now until I discover what works for me. Nothing bad about the guy, I just don't like all his requirements for coaching. 4. Find my own trading strategy what works for me and stop searching for others online and continue on with step 1. Thank you all.
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HAHAH, thats what I saw, of course after the market close I see this. Got it now.
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Thank you bakrob99, Your advice and comments are simple and makes sense. Helps for a newbie learning and practicing on my own. Any good books/artilces you can advice on market profile or just understanding the future market as a whole.
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Anyone can answer this question about the market profile if he/she likes? 1. Does the purple, orange and red areas indicate volume over from May to Aug? 2. Whats does each color (red, green) illustrate on the price? I am thinking red means less buyers and green more buyers. Just trying to understand. Thanks
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Yes, I got that measure move as will of 1328. It was the measured move from the bear flag, but same thing as you calculated. Lesson learned and noted
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No, I don't normally counter trend trade. And its a silly thing for me to do especially, since the trend is down for today. Its something I written in my journal, but I broke the rule anyway after I missed my short after I buy area of 1340 did not hold and broke. Instead of me going short with a target of 1332, I hesitated to pull the trigger at the 1340 area and go short. So since i missed that trade.Reason I miss that trade, cause I still struggle a bit at determining when a support level is actually broken and when to take a short. Yes, you right alot more profitable to go with the trend of the day. Lesson Learned!!
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You right and my buy area was 1340 dis morning after the bell rung, but I didn't take advantage of it.
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Thank you , Can you please comment what type of chart this is when you get some free time or reference? Thanks,
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Thank you very much for your comments. The trade I took was bad trade by me. 1332 was a support from yesterday and the other day when Ben was talking. The part I messed up was i normally use the slow stochastic on the 15 min for a buy signal when its in oversold area. This trade, I did not confirm this and I got tooken out. The reason for 3 pt stop was because there is a s2 pivot at 1331.59 and I wanted the stop right below it. Now that look I see that a bear flag did have a measured move down to 1328.:crap: Thanks
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Took a long position at 1332.75 with 3pt stop and was quickly stopped out.
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Thanks, Are you saying that after the bell open yesterday and sellers could not take price down below 1332, they gave up and short covering occurred which may have cause prices to go up? Just making sure I understand you better.
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Thanks for your response and good analysis as to why you bought long. You are right, on down days and especially with the market context being bearish from Europe issues, i was better off waiting until the seller was done and buyers try to come back in. Atleast then, I am not the only buyer trying to push the price higher after the market settles. Do you normally use small stops like 3 ticks? I once using 3 pt stops, but lately i have been doing a good job of reduces my stops to between 2-3 pts, by watching the reaction at support/resistance levels.
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I'm kicking myself for taking that trade before the bell. Now price action is bouncing between 1340 and 1337.75. :crap:
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You are correct, buying before opening was not good idea. Took my lost and learned from it. Yes, I consider double bottom a support, but what I like to do is consider other supports (ie, trendline, pivot, LOD,etc.) as well for more evidence. I also, like to match with the 5,15 min RSI or Slow Stochastic showing some buy signal when going long. Tonight, I will read up on how to determine true double bottom. Thank you.
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Morning, I took a trade this morning long at 8:25am at 1339.25 and stop right at LOD , 1337.50. so minues 2.25 My reasoning for the long was: 1.1339.50 was a double bottom of support from 7/16/2012 2. Also lower indicators (RSI, and Slow Stochastic Oscillator) was oversold on 5,15,60 min. Mistake: 1. Not waiting for the opening bell and letting the market decides it way first. I written this down in my notes several times to not trade before the bell, but tried to catch a bottom. 2. I should have confirm buy signal on Slow Stochastic Oscillator on 15 min chart like i normally do, but i didn't.
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How Maintain Consistency and Improve Trading Results
goodoboy replied to TheNegotiator's topic in Trading Psychology
Thank you. I am starting to keep a journal. Can you share some examples of " psychological aspects of the trade"? Do you mean like for each trade write, whether "wasn't patient enough", "practice patients here", "really dumb trade and got lucky", etc. Just trying to see how to properly keep an journal the right way. Thank you. -
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Thank you and what you wrote makes sense. After reading here and learning on my own and hitting my head against the wall, taking purely dumb trades (and losses), I am realizing that whats important is my evidence for the trade and how to manage my risk. There is no holy grail, all that I don't believe. Knowing the market context, my evidence for the trades, and my managed risk is whats important. Once I line up my evidence for the trade setup and I have 4-5 reasons to buy/sell and the reward outweighs the risk, I confidently pull trigger, what happens next, i have no control! Whats next for me is continue to work hard to horn my skill of finding evidence to support trade. And most important, keep it simple. Thanks,
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GOOG 3:30PM, MSFT 4:30 PM Earnings could cause ES to get a run-up provided they beat, and then setup a nice short for over night. IMO
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What do you use to define the buying interest (voulme)? Do you just just use the Volume indicator? I think volume and determine buying/selling at certain areas i want to buy/sell at is where i struggle. Thanks,
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Thanks for the visual, helps to stick to following the charts and not all the noise out there.
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nice, so are you just scalping for the small points? Just asking.
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Thanks, is it because 1367.25 is LOD. I bought at 1371, but broke even after news.