One thing that did piss me off today was I had a PERFECT NQ setup setting up. I saw it, I was ready for it... I was gonna pounce on it and make it my bitch. Literally two candles prior (less than 1 minute!) to it breaking my internet dropped out. Sprinting downstairs to the modem ensued and by the time I got my charts back up the perfect textbook entry had been offered, would've been taken, and a solid 2-3 points resulted. Shit happens I suppose but I couldn't help but feel a bit slighted by the man upstairs to kill my connection at EXACTLY that point. Any other time today, go for it, no complaints. But right then? At that exact moment? Its a low blow dude...
All in all though folks... Not a huge week by any means. But there is a distinct difference between this week and last week. I made money 4 out of 4 days. No huge drawdowns, solid execution, management throughout. I just may have hit the tipping point in my career. Also today my last setup i've been tracking offered about 100 bucks on two trades (1 loss, 1 win). I did some statistical backtesting on it and it certainly is profitable, and appears to be very efficient (low # of trades for the profit offered) and it comes in around 70% win rates. Not perfect, but good enough for me. I'll go live with the final setup on Monday.
Next week i'm out of town Tuesday through next Tuesday. I might be trading from Missouri and if so i'll let ya know how it goes!
Trade Results:
ES: +0.00
NQ: +0.00
5 comments:
Is next week the trip when you're gonna be stopping at Ikea? I get back to Chicago next Sunday. If you're gonna be driving through Chicago Sunday or later, we need to arrange a One-Lot LLC meeting :D
Hey you're alive! The Ikea trip got canceled after all. But yea that would've been the trip. I'll just be staying down in Missouri and won't be traveling up your way. :(
Hope your trip is going well dude!
I was reading in a book recently about the danger of trying to watch two markets. They say its best to master one and then increase size as your ready to increase profits rather than trying to get more opportunity across two, just a thought.
Sorry mate for your Internet misery.
Maybe we need to include Murphy's Law in our setup.
I had it 2 days ago. The chart simply stuck ! Photo-perfect setup busted.
Murphy's Laws: If anything can go wrong, it will.
True enough waiting trader! I've had more than my fair share of murphy's law myself! I think its a trait inherent to all traders!
As far as following two markets... I don't really have a problem doing it (I follow two markets on two different time frames) because as you can see I have very few setups as it is and its very easy for me to invalidate price action and not even have to consider it 95% of the day. But I appreciate your suggestion and understand where you're coming from.
It just that I used to trade 8 different currency pairs on 4 different time frames each day! 4 charts total in comparison is a cake walk!!! ;)
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