Guten Tag Traders,
Been optimizing the setup criteria for the strong trend following setup, both long and short over the last couple of months. Today happened to get both the uptrend entry and downtrend entry in the same day which is unusual but nice opportunity to explain what these setups look like.
Interesting that the volatility has been increasing lately, usually don’t get this at the tops so seems like more new highs are on the horizon. Long term investing is certainly paying off, just received a statement on one of my accounts and it showed +37%. Haven’t seen that in a while but I’ll take it!
Attached a real time trade recording as a video is worth a thousand pictures, right?
Bonne année Traders,
Caught a nice little long trade to start out the first full week of the new year. Likely would be more in it to the long side but sooooo slow, not worth the risk of staying longer into the afternoon. Don't record the actual trades that often as I find it a distraction, one of the reasons I've been resisting a trade room. If there would be enough interest maybe I'd reconsider, not sure...
Well, with out further ado...
Hauʻoli makahiki hou Traders!
Hope Santa found your chimney and didn't give you any dense fossil fuel in your stocking! Found a few decent setups in the last few weeks and in the beginning stages of validating an additional trade setup. So far so good. Always struggled hitting those runaway trends and this little dandy is picking some of them off. For some reason the image of being stalked by something higher up the food chain keeps coming to mind while trading. Hmmm... Not sure why...
New computer is finally stabilized and now that the holidays are nearly behind us looking forward to a raging 2018 for trading. The increased resolution is nice in some ways but reduces the fonts in certain displays so I curse at it once in a while, which surprisingly doesn't make it much better. Huh. I'm going to keep trying anyway...
Anyway, last blog of the year for me, going to find some warmer climate for a bit rather than the current deep freeze. -25 Degrees F, -40 with windchill, are you kidding me? Just... not... right.
Good Trades all!
Been having a myriad of issues lately, not the least of which has been a hardware failure on the trading PC. Never realize how many programs, setups, passwords and configurations that can screw things up until you are forced to face them all at once. Having a bit of a struggle with the profits as of late as well, happens to everyone at some time or another. Good time to dig in, study the charts and... not change my trading plan. That's one thing I learned is to not deviate significantly when you have a few losses but still analyze what's going on. Crappy periods happen, as long as they're not self induced don't start off on a new direction right away, nothing is perfect all the time in every market condition.
Since I'm using some new hardware and software and configurations, some that are okay, others that, well... suck, let me know how the video works for you. Greater resolution makes everything smaller, not sure why this is required as none of us are getting any younger and squinting at the screen can't be an improvement... Well, that's a discussion for another day.
Moshi moshi traders!
Quick week in review video addressing a question from a follower regarding the trades I took. Had a nice week, no losing trades for the strategy though I suppose some could argue there was more to be had. Well, always more to learn.
Anyway, hope you had a great trading week.
What's the dizzle Traders!
Apologies that I haven't done a video for a few weeks, been busy doing a bit of work on morphing the EminiEdge Trading Strategy to slant more objective than subjective. Anyone who has followed me for very long knows this is an ongoing goal of mine and I was able to take it one step closer. Interesting how advancements come in "spurts" for me. I think my mind just needs some time to percolate before I can put proverbial pen to paper. Anyway, made a few strides forward again that I talk about a bit in the video and this allowed me to take an objective look at my trades and verify my setups and execution, and I realized that I take a lot more short trades than long, even in this "... Just buy the dip, what are you stupid?" market run. Well, it works for me so to each their own. I guess that makes me "stupid" according to the trolls, "stupid is what stupid does..."
Anyway, show the last couple of days entries for me, of course shorts for ol' Trader Gump. Funny how those that berate anyone even dumb enough to consider shorts don't show their trades real time... or their equity curve. : ) Some things never change.
Hope you had a good trading week!
Had a decent trade early into the day, and good thing, that's all there was for me was the one. Seems like the days of "over trading" are behind me, or at least on-hold. Good riddance. This little trade shows the outline of how I take trades, what I'm thinking and why. It's good to look back at what you've done and critique your trading even though sometimes it's tough, especially after a loss. Sometimes the trades aren't as smooth as this one as the market is ever changing, but the nuances are similar time after time...
Anyway, hope you enjoy the video and if it is useful to you I really appreciate a share on one of the side buttons on the site...
Pip Pip Traders,
Wild moves today in stark contrast to yesterdays flop fest. These moves are tailored to whack the retail trader who is buying every little dip or selling every little bounce and tapping the stop right above/below the last pivot. Remember that your plan needs to be able to accommodate these types of swings and still let you survive long term, even though it might seem like the market floating around like some little snowflake is now the norm.
Anyway, had a nice trade today and got whacked on one, and included the setups from yesterday as well. Had a real time trade from yesterday recorded and ended up botching it so gave up... sorry about that. I am always squeamish posting the real time trades anyway as somehow it feels like I'm bragging or something and that's not my intent. I post these so the followers can see what I do sometimes as I know it can be confusing stuff and it helps to see what others are thinking when trading. If these are helpful to you, please click the share buttons on the side of the site. That is all the thanks I need to keep doing these!
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!
Hope you all had a great trading day! A few dandy setups late into the move today for a few points and then called it a day. After the big gap on Monday, expected a couple of "pause" days with some sideways chop. This is one thing that can make or break a trader, how to stay away from that slop that seems to reverse right after you get in. This also can lead to over-trading which used to be one of my trading sins. Not so much anymore, have more confidence in my setups so I can sit and wait for the right time and place (most of the time!). It also is important to keep the market context in mind because a setup today is not the same as a setup tomorrow even if they look identical in a close-up view. The context can change the types of setups that will have a higher probability of a trade, whether it could be a big runner or whether you should be happy with a scalp for a couple of points. Ahhh, the devil is in the details, isn't it?
In this video I walk through my thoughts over the last three days and what I saw while trading those. The setups repeat and repeat, just have to be sure to keep the market context in mind as well. Okay, I'll quit blabbering and let you get to the video... Oh Yeah, don't forget that your mother always told you "Don't Forget to Share." Maybe she didn't mean it with reference to a web site link all those years ago, but... or did she?
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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