Decided to do something a little different since the action today didn't offer up any entries. In this video I walk through last weeks setups, entries and follow-through (sound familiar?) during my normal trading day (first couple of hours). It's so important to follow your plan while trading and that is only possible if you trust your plan. No "figuring out" how to trade while you trade (B.S. Trading) and that's only possible if you believe your plan. I had a comment the other day asking "...what if the stops move to here... and after the bar does this and wait for this then..." good gravy. Not sure why we're inclined to make things so complicated, maybe we're so used to seeing plans that are incredibly complex and we are conditioned to think that's the only way they work. Sorry, doesn't do it for me. As my plan evolves it gets simpler, not more complicated and it makes it easy for me to follow, or like today, sit on the sidelines.
Anyway, hope you had a great trading day, and if this is useful to you I always appreciate the share!
Slow ugly days seem to be becoming more the rule rather than the exception. For the record, don't like it. Pulled the 4 points/cntrct out of the move but taking too long IMHO. Still amazes me how I can ALMOST get suckered into not trading my plan...
PS. As always, if this is useful to you, appreciate the share...
Quick video today showing a long that I got out of too early but was wearing me out. Hate when the market is diddling along; my coffee gets cold. I know, right? I have problems. Who should be subjected to such a travesty?
Anyway, the move finally took off nearly four hours later, unfortunately not my bag. The entry was still right on and I included the real time trade for review so thought it was still worth posting. Makes a point as well that every trade every day can't be a big running profit maker. Sometimes you take what the market will give, unemotional, following your plan mechanically, and walk away in the "green" so you're ready for tomorrow. Had a little trouble with the video software so apologies if something's off a bit.
Hope you had a great trading day. Off to a slow start today in an uptrend but patience paid off. Quick little entry for a risky reversal back into a continuation long. After rollover action is not bad even at these new highs. (Be sure to check out this Rollover Video if you are wondering out when to roll or what contract to use). Yesterday was even cleaner with an entry right away and done in the first 20 minutes. Gotta like that. Trying to keep the video a bit shorter as to not bore you to death so with no further adieu...
Decent setups once again and finally had some range. Problem with getting some range after soooo many choppy small days is that when it finally does get moving it is tough to trust it. "Can't believe it will move much more" pops into my head over and over. After getting "trained" that every breakout fails and every bounce reverses it only makes sense, until it doesn't... The EEdge-MTF indicators and especially the combo chart were exquisite. Just watch, identify, trade. Just that simple. Can hardly imagine the convoluted crap I have done in the past that passed for trading, at least I thought it did. I just cleaned out my office and came across some old materials I bought 15 years ago. Volumes of pictures, candle patterns and nuances that are impossible to replicate. Gave me butterflies just thinking about all the time I spent trying to write some complicated plan, only to find out simpler is actually better. I suppose if I paid good money for something that was heavy when lifted at least I got my moneys worth, right? To quote President Trump... "WROOONG". Well, I'll at least warm my hands with it for a little while once I start the burn barrel up so it wasn't a total waste...
Anyway, this review I walk through the last three days again as the last time I did a few days at once received a lot of positive feedback so here ya go...
Hope it is useful to you, and if so please share this with others using any of your favorite buttons down the side...
Hidey Ho Traders,
Been a bit since publishing a video but thought it was time to show some of the specific setups I use every day in my trading. Keep in mind these are some of what I use and you have to use what clicks for you... Got a little wordy but I think there is good info to be had so no apologies. Had a choppy, junky action today but if you were nimble and just follow the signals there was plenty to be had even if you are not "Johnny on the spot." Summary is; know your plan, memorize it until you see it in your sleep, practice, practice, practice and apply it over and over... Just do it already!
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