One Strange Kat

The long weekend was interesting. Spent time trying to find IB TWS documentation. Not an easy task. Seems the learning curve is, well, steep. Viewed their video tutorials and webinars, but have yet to find the instructions I need. People think trading is difficult....the mechanics of order entry with stop loss attached is much more convoluted imho.

Waiting.... This is not the kind of markets I choose to trade at this time. Opportunities, yes, for some, but I am keeping the powder dry for the time being. The above mentioned shorts were closed for just a few ticks over a hundred points via stop loss.

Updating above trade, stops moved down. Quiet is one thing, but this is ridiculous. You may want to look at T2W. Though it's the usual FX/Indicator environment, there is at least some interest in this. And the journals there are restricted, so having a moderator isn't essential.

trade uploaded on chart

DbPhoenix, A thoughtful response, as usual, and so true. Thank you for taking the time.

Just curious, has everyone moved elsewhere? I know this forum could be quiet, but seems unusually quiet. Tumbleweeds meandering through quiet.

Had the opportunity in my sights all day, but when crunch time came, I folded this hand.

Out of longs at 4222, 30 sec chart helped with getting a good exit.

Not much to say, really, it either works or it doesn't. 1520 Chart updated. Really need to work on the mechanics of trading inside the crest and trough...

Next opportunity is riding into the Asian trading hours. Stop is now break even plus a little for my time and effort.

Orders in, but as of this writing, not filled. Filled and scratched...out a few ticks+commission, but better than sitting through any more churning. Waiting f or next opportunity.

One last trade today.

Poorly managed on my part, out by stop a couple of minutes ago. DBP- Thank you for posting your charts in the other thread. It was a Kenny Rodgers trade: ya gotta know when to hold em, know when fold em, I folded and walked away in the neighborhood of 9:30. Pup needed a run through the woods.

Couple of limit downs hit this morning. So close was the first limit, I walked away from the break of the demand side of the range drawn. Long now with a stop at break even plus costs. Don't overlook the halfway level of that first upmove.

Just my humble thoughts on the morning of 8/24.

Why Cough, I assume you are looking at a zone somewhere around the arrows on the daily chart, 4260-70 or so.

Out at the break of supply or near the end of regular trading hours(being Friday), supply line broken.

holding a short trade for now.

A follow up thought as we near 5 pm, comments on chart.

Watching live until a little after two, but a simulated account. The idea was to work on the synergy between sla and amt. Moving stops to protect profit. Target was the bottom of the daily range. Remember, this was a simulator..

Notes on uploaded chart

Just an observation: double the range for another time and place.

DbPhoenix, I have made note that you are using Interactive Brokers, may I ask what data are you using? They have more than a handful of choices. One Strange Kat I use their data.

Do you intend to apply the SLA or develop a trading plan of your own? If I may wax philosophical for a moment. Can anyone actually apply a trading plan of someone else as their own? Should a trading plan outline not only the strategy for trading, but also address type of trader, use of leverage, stop loss, ones own "eye to the market?," etc. So I'd answer you this way, my desire is to make the straight line approach, my philosophical foundation for a trading plan. It makes sense in my mind any way. The SLA as written is a template. The trader must yet make some decisions on his own, such as what constitutes a "break".

Sitting on my hands. While some may have found an opportunity today, I have found the opportunity to minimize my risk and take the dog for a run through the woods.