humbled

Thales, No they did not. I guess I learned by your response. No Globex trading. I did not impulsively jump at that trade. I thought through the level importance and the pattern made as well as the risk reward the trade offered if only for a retest of that SPX resistance level at 1600. I am not sure of my limits so I stretched a little and learned something. Building experience but not sure if always the right or wrong way. Humbled

This morning I woke up to find price had just tested the Prior Low and had built an executable pattern. I am not sure if I made the right choice but I took this long based on the "R" that it could offer if this low held. I was stopped out for - 4.5 Humbled PS I think the gap rule omission here might be my judgement error. I am not sure if pre-market is an error as well.

Here are my key levels for Monday

I took a short at a key area here on 1596 SPX not sure about the time left but it was a good chance if we dropped into the close. The pattern was very clear. I covered due to time. Humbled

Thales, Thank you for those responses. I can handle that loss. I am used to much worse. I will work on the execution setup this weekend. I was wondering if that large long signal was valid a the low today. I marked the area on my chart. Please let me know. Based on your intraday comments I am reviewing now it looks like a skip. Humbled

Thales, If you don't mind I have to ask you a few quick items. #1. Will you allow a 5+ point stop on a trade if needed to move the stop over the key level? #2. When you are using SPX for evaluation and ES for entry, the charts often do not match the exact swing structure. Do you move to the ES and accept its swing high level or do you have to monitor the SPX and try to match up for a stop. #3. I have found some issues trying to execute on IB ,one of which has to do with manual order entry on the quote page. It's a real struggle to enter and place stops. I made an error in a limit and missed. My fault. I will setup with my Ninja license unless you suggest differently. Humbled

Here is what I have done so far today. I am sitting in cash right now. I had a few execution issues and will follow up this post with a few questions After that I will respond to the comments from Thales.

Thales, Thank you so much for the response. I have to apologize to you for taking your time and then dropping the ball today. I am showing my failings in glaring detail. I want to mention that the largest battle is in my head as I doubt myself at each execution. I hope to build some confidence so I can select a direction for a trade without my level of doubt. I can live with the stop outs but I find the hardest aspect is the balancing of which direction to focus on. I question every entry area flopping mentally long or short at each one to try to judge correctly. Often the clarity comes after . I thought after years of reading price this might change,it has not but I am working on it diligently. I wondered if understanding waves, fibs or something else helped with this but for now I will work on the 5 minute to wait for a key area to survey. I believe the 5 minute will help. When I am zoomed in I find myself focused on the identifications of every executable pattern. In doing so I am making some errors. I will adjust that tomorrow and report my results. I am listening to every instruction. (Humbled) by the help Thales has given

My levels for tomorrow. Please feel free to comment on them. Humbled

Here is a view of the errors and trades I took today. After a big drop I believe I my bias was to catch the turn. The truth hurts.:crap: Humbled

I will show what I did later tonight and I hope to grow from this experience. The gain period is great but building consistency is all about how I handle these reversals of fortune. Today was a reminder to be (Humbled)

I am not sure I am seeing this right but according to these levels we have not found any support yet. I made the right decision to not be greedy but price action might have been telling me to hold. The market is stepping down. Humbled

Thales, I have identified some zones for tomorrow for my chart. I am following the directions found in your post and will review that other thread asap. Thanks, Humbled

Thales, Just amazing advice as usual. Not sure how to express my gratitude. I am taking the advice to heart and working to install this belief system. All based on your teaching. Your comment #4 I do struggle with. When I see a 5 point stop required to get above a zone or area I often find myself looking for a smaller range entry. I try to place it as tight to the execution pattern as I can. Not sure how to solve this other than just expanding to a wider stop. Best Wishes to you Thales, Humbled

Here are my levels including zones for tomorrow.

+16.5 ES points today. I did see 5 points room till my next point of interest but I felt the risk of giving back 75% overnight was not worth it. Humbled

This is a summary image of today. I am still working to figure out this trade. I believe I have followed most of the rules I have learned here. I am not perfect but trying to respect each one that I have been taught. Humbled

A close at the low leaves me short the ES with a stop above the last swing high which is 1636 on ES and 1641.50 approx on SPX cash. Risking to make very little profits if we break that level. I am learning but not sure on stop area. Humbled

Trigger to cover was higher low after long trigger near key level. This would stop the close from being at the low. I then saw another pattern so re-shorted just now. I will do screenshots tonight when my software is fixed. Humbled

I was able to take a short trigger at end of Fed Talk at 1641 ES from the 1646 SPX Cash level. So far a nice trade.

I did take a long today near my key level test. Once a test was made near the 1646 SPX cash level, I waited for an executable trade which formed at 1648.9. I considered an exit at the 2B top pattern 1651.80 but simply moved my stop to cost because I would consider this trading in the middle. From the suggestions I get I will tighten up this plan. Humbled

I believe I have too many levels going into tomorrow but I am not sure which will be critical. I have highlighted all of them. Humbled

I missed that 2nd entry. This will not be the first or the last time this happens but I will work to contain the errors I make. I am learning every day. Humbled

I might have exited at this area on that trade I missed based on this time of day. Would love advice if I would have been best moving stop up and just holding for next resistance if we close near the high today.

Here is an additional long back in above the resistance zone. I missed this entry.