Nov 30

No Trade Today

What is common on Quiet Market, The Trendline, MA50 failed. Lesson Learned

NOV 24

Common Ranging Pattern :
1. S1 - PP Range
2. Double Top / Bottom Respect
3. Fibbonaci Retracement
4. MA 50 Bounce

Nov 23

R3, S3, should respect these barrier. And 1 more thing : Respect the EMA7 !

Nov 20

Slow Bear Day

Nov 19

Market went south to S3 and bounce back 3 times. Low Volume. The S3 Support seemed a very strong Support.

Nov 15

No Trade For Today. Out Of Town, Left my Laptop Charger.

NOV 15

The insight of the Loss:
1. Identifying Market Theme : Low Volume seemed to choppy like yesterday.
2. Playing MA at the choppy day means fake the break and reversal at the extreme price

Nov 13

No Trade Today.

Nov 12

Perfect Entry As Pattern Emerged. Double Top / Higher High With Slow Movement. Exit Too soon as MA 50 touch. Learn something new about volatility. Speed Means Trending And Smooth Movement means No Faked. Speed and Smooth = Nice Trending

Nov 11

Entry based on Plan, a little loose with STOP LOSS, Supposed to exit at double bottom. Greed Coming and Exit on Fear.

Early Movement didn't give HL or LL so missed it on purpose and then came my favourite setup, EMA 20 retracement.

My Market Navigation become better and better, but I have to stick with the plan.
PS : Why the hell am I expect a breakthrough on a Bank Holiday??? :(

Nov 10

I went BEP today. I still managed to navigate the chart. However I missed lot of opportunity.

Nov 9

I Used 512 TICK mainly for my Trigger. My prediction for the next best entry is the breakthrough of MA50 white candle. The safest STOP wil be <590 and the ideal STOP is at R2 (591,3).

Here's the result of my trade for today.

Trading Journal

I made my tradig journal more systematic. As a daytrader my trade decision is so micro that I wrote all my analysis that day.

So far so good that I could navigate my trading-ship where the market went. My next tasks will be:
1. Wrote my plan and execute based on those.
2. Recording the chart based on my journal at my blog along with my journal notes.

Have a nice trade ...

BLESSING IN DISGUISE ?

For the last 2 months I had a horrible drew down from my trading. Kept doing wrong, don't know what happened at the market. I lost more than $5000 in just 2 months.

Yet start this November, I made my decision to trade like never before. I stopped looking at other's chart / analysis, Reduce my attention to news, and Re-building my definition of trading. Til this day from 1st November I haven't been trading yet.
I just Paper Trade.

I bought a black book to record every detail of my thought when market open. I wrote the time, what happened, and execute with my paper trade.

Surprisingly I found a method that very simple, effective, very market approach, and every single day I learned a new thing.

I don't think I never found what I got now if I didn't had big losses. I still have a long walk to strengthen my trade.

As the result my paper trade reached 100% return less than 2 months. with initial paper trade $20.000,-

My method involved:
1. Pivot Point Target
2. Moving Average
3. Time and Tick Chart
And for the supportive I also watch:
1. TICK
2. ES & YM Chart
3. Sector and Market

My strategy need at least 5 contract traded, for scaling.

Last Word :

See A Success Beyond A Failure, What Make A Great Man

Why I Loss ???

The age-old axiom of trading is that we are to “cut our losses short, and let our profits run”. I’ve realised that what we tend to do best is the exact opposite! If we don’t condition ourselves to overcome our most natural trading insincts, chances are that we tend to “cut our profits short, and let our losses run”. Indeed, latest research in behavioral finance has revealed what traders and investors of all ages have always done, i.e. the fact that we tend to take more risk with losing positions, and become very risk-averse with winning positions. This “asymmetry” or inconsistency causes us to be unwilling to take losses and also to take profits too soon. Traders are unwilling to let a trade hit a stop-loss point, because humans are conditioned to avoid immediate pain; moving (or even removing) a stop-loss order allows one to delay the pain of taking a loss, and hopefully avoid it! With regard to profit-taking, many traders fear that a profit might “evaporate” away and take it too soon. This habit gives the immediate relief or pleasure of “locking” in profits.

If you think about it carefully, these two habits will guarantee that our profits are not sufficient to pay for our losses. Even with a high win rate, you could end up losing money!!! The right way to trade is to ensure that our profits are , on average, bigger than our losses. This is why many winning traders can be very profitable despite having a modest win rate of only slightly more than 50%. Winning traders really practise the basic principle of letting our profits run and cutting our losses short!

From http://keonghee.com

November 2 Analysis

No Trade, so I made the analysis. Must get back my 'market feeling'.