Sunday, December 15, 2013
Wednesday, November 27, 2013
Friday, November 22, 2013
I would like feedback on what you guys think of starting a trade room? I don't know which online meeting company it will be through. Maybe Skype. Let me know what you guys would like and expect. Current students already trade in Skype with me. And its helped them alot. But not sure how that translate to someone outside the method. Legally I can't give live calls but I can say when I'm entering a trade. Please leave feedback.
Thursday, November 21, 2013
Sunday, November 17, 2013
Sunday, November 10, 2013
We all have a ritual. I made an effort to wake up 30 mins before with coffee and music as prep. I remember my negative days being when i just wake up and go straight to the pc. But that's the extent of it.
No meditation but i would try it. When I review charts in the weekend. There's nothing like a hookah session while reviewing.
Friday, November 8, 2013
Thursday, November 7, 2013
Wednesday, November 6, 2013
Today I had several emails concerning mentorship. Listed is the itinerary for the 3 month mentorship.
1st month - Daily homework and review of HTF (Auction Market). I will show a different way of identifying value using a specific bar chart. This is an important process I use to develop my daily game plan. You will be held accountable for your work each day. This is how you will learn.
2nd month - Setup chart, I use range and renko chart for price structure.
3rd month - Orderflow to fine tune entry.
It's funny orderflow is the craze now but it's the least important. Location is key.
Tuesday, November 5, 2013
Monday, November 4, 2013
Trade 1 - Scalp trade long but I cut it short as I saw sellers hitting the bid (+1tk)
Trade 2 - Short with orderflow confirmation (+16tks)
Friday, November 1, 2013
Today had 2 trades.
Trade 1 - Loser but did work if I kept my stop at usual place but this was just before FOMC and other news so kept stop tight against a volume cluster (-4).
Trade 2 - Winner (best setup after testing value) +20.
Thursday, October 31, 2013
Trade#1 - Was a scalp to the low but got a -6 tk, forgot the open was 1 minute after entry. When I noticed this I kept stop at a volume cluster and buyer started lifting the offer right out the gate. It did hit scalp target so my focus was a reversal back to weekly VAH 85-90 area.
Trade#2 - Long with target to VAH, but trailers got stopped for +20tks.
EOD- Pretty much was a rotational day. I should have time tomorrow for my combine account. Skipped this Tues/Wed. So stay tuned for tomorrow.
When starting the combine, I used an all in all out money management. Versus keeping a runner as I do with my personal account. And so far I like it with a 2-1 R&R. It's less damage to me mentally. I've had trades up 28tks and hit my +2 BE on my runners.
But I did keep the size the same (2lots). This size is my comfort zone. Since the current strategy I enter via stop orders with 70% percent of trades getting 1tk of slippage.
Wednesday, October 30, 2013
I often read and hear about different perspectives on this topic. On one extreme we have scalpers and on the other we have position trading.
My opinion at least at this stage of my development is "why scalp" if your a retail trader. If trading is a business and 1 lot is your product. Risk at 10 ticks (100 dollar product) and your reward is less then 10 ticks. You won't be in business for long.
But on the other side I can see a scalpers POV. It may have to do with there psychology more then having a high win ratio. Taking heat on a positive trade churns my stomach. And for many this plays tricks on your trading plan. But it's part of business.
Price- We all know price is king. Price structure is our momentum tool. Fine tuned with orderflow.
Value- Trend is a cousin more then a friend. I'm referring to trend being relative to perceived value by market participates. There no such a thing as chop. Auction Market Theory tells us that the market is in a rotation (balance) or trend (imbalance). Identifying these supply/demand area is key and the blueprint to my trading plan.
Time- The market being the arena for buyers and sellers. There's going to be that human element. Time of day and looking at areas that is taught when you first started trading. Prime example which I recently added to my charts and put to practice was moving averages. But only in context with value.