humbled

Tradingwizzard, You and Seeker are right. I would not have quit but I see your point and I will not flip flop. Humbled

Seeker, I will stay the course. I am frustrated in the moment but I will keep at it. You are right. If I run away I will never get a method down. I will always be switching and consistency will never develop. Humbled

Seeker , Some good points here. Let me address them My plan as Thales directed so far was to look for a Trader Vice 123 or 2b pattern VERY close to a key level. I was allowed to use 5 minute charts until we got close. I then was told to zoom in and take my entry on a one minute time frame. I have applied this approach verbatim or at least as close as I could. As I experienced these trades I was given examples of when Thales cut them short, when he allowed the trade to work and when he saw things that suggested that a loss should not be taken. I have done my best to attempt to react like that but its not learned yet. Thales suggested that I read DB's work and start to work that in. I am learning that as well right now. What you are seeing is the frustration of me trying to execute a pattern that occurs all around these key levels. It occurs several times in both direction at one of these levels. Without the filter to define which ones to omit and which ones to take, I feel like a pin cushion. I am sure as I understand more of what Thales has wanted me to learn I will find many of these attempts filtered. I am watching 2 min and other time frames trying to read volume and observe. On Thales own suggestion he said I could observe volume but he also mentioned he does not use it. As he shares more I can understand how to control the abundance of signals and decides on direction. In the absence, while Thales is away I am doing the observing he mentioned As for the 1 minute comment. I admit it is very fast and I find many false signals but I have followed the plan. The poor exit is a mixture of my attempts to read what Thales meant from previous posts. Thales has given me many pieces of the puzzle but I am struggling to put them together. I must admit I studied Thales history and the trading of his daughter who started at 9 years old and has done very well. I noticed many comments that she managed trades with a stop or a target and did not get in the way of the trade but I have not arrived at that point yet. I have attempted to adjust based on Thales responses. He must have a reason for teaching me this way. Maybe the addition of Supply and Demand lines from DB's work will add to the setup. Maybe I will be more confused. I can't say yet. Seeker if I had my druthers, of course I would ask for exact directions. Why. How. A totally transparent view but clearly Thales has shared in a process that he feels will help me. I can tell you at this point something is missing as I fumble around each key level switching back and forth in a rush to read what the market is saying. Maybe after some clarity is added my frustration level will drop. Humbled PS. I actually think I have done a pretty good interpreting what has been said if you read all of the directions I have been given but I have simply shared the whole experience including the pressure of low accuracy and lower reward trading.

Here are the levels or zones for tomorrow. Humbled

Enigmatics, I love the honesty in your post and I appreciate the review. What is the best way to derive the POC #'s for SPX so I can highlight them or do I need to move to SPY to find them. I will start watching reactions at these levels. I have included a chart using a tool called TPO in ThinkorSwim. Showing just one day of price action leads to a line today at 1622.09. Thanks for your assistance. Humbled

Enigmatics, I could not agree with you more (Again). I did not select the time frame, I want to be a good student so I do as I am told but I can tell you the 1 minute has not served me well so far. I am reviewing the POC and ideas you have presented as I know the current method is not working. I will be soaking up as much as I can in review of the charts you have posted. Humbled (beyond belief)

I would have been stopped out now anyways. Humbled

This was a bad trade. I have no faith in the current setup so hard to take any trade with conviction of any kind. Beyond frustrated. Wrong attitude for trading. I will go back and read DB and study the POC and VWAP. Humbled

Enigmatics, Super info. I am working to understand some of your concepts and methods here. Please keep sharing as it will take some time to absorb. Humbled PS I did study volume today but I am still learning to read it like you have shown. Clearly the answer is a slightly longer time frame. The 1 minute has too many signs to decipher.

I have also posted where they came from. The yellow are today's high and low which will be important for tomorrow. Humbled

Enigmatics, Thank you very much for that review. I am going to spend some time on this now. Thanks for being a part of this journal and I truly appreciate the help. Humbled

Enigmatics, Please post what you can from today. I am happy to study and appreciate your assistance. The risk reward on these trades are horrible imo but again I am trying to be the student with no overlays of my own. I really looked forward to having that become a part of my day trading asap. Humbled

Have to admit I could not wait for this day to end. Disappointing results.

A frustrating experience but I am following the process. Humbled

Following the rules but struggling

Right or wrong I will wait for another trade.

Shorted but not easy when I feel like I am fading the trend.

Levels for tomorrow. If anyone feels I missed an important level please note them Humbled

Thales, Done and submitted. Thank you for the direction. Humbled

Enigmatics, Agree with your sound advice. Glad you are here on the thread. This statement I really look forward to "R" being a part of my plan and setups. I agree but have not earned the right to decide based on my own judgement as it has proven to be flawed:doh:. I will wait for direction from Thales and the thread to suggest methods to improve this setup/plan presented. Next week I hope to add trendlines as Thales instructed me to read DB's work. If anything this trading shows that I can follow rules. It's a better option than throwing in the towel from the frustrations of trading like I was on a roller coaster ride. Humbled

Enigmatics, Sorry about the end of day mess. I could not agree more but I have not been taught yet the skill of "selection". I am using the Thales rules like a robot. Please keep posting and I will improve my selection rules by direction of this thread. Humbled

All done for today. Humbled

I feel like a ping pong ball Now short here Humbled