Song : InsyaAllah

Stochastic

Not Funny

OK. 2 short stories.

As mentioned yesterday, I'm testing sideways setup in a supposed SIM mode. It got 2 ticks. When I saw the AT platform, the color was different. It was a LIVE mode ! !....I'm traded live actually .  Lucky.

I'm in sideways mood , so I switched to sideways chart. Use simple bracket to achieve target in the correct SIM mode this time. Once target achieved, the candle continue downhill. Flip to trendy chart--there it goes - loud and clear. . Too late to switch to LIVE mode...Wasted 80 ticks.Not so lucky this time.

Learned mistake. Now both sideway and trendy charts are side by side..no flipping when trading in session....

Stochastic

To test : flat waves between 20-80 zones inidicates  ranging mkt

Simple brackets & Stoch

Enough is enough.
I tossed out MACD for sideways market .
Why ? - Simply MACD is a variation of MA.
More important - it does not work in ranging mkt like yesterday. yesterday 2x, many2 yesterdays.

I put in Stoch Slow - but the setting need to be tweaked a little.
I have some experience with Stoch in TF Russell...
It is not a reliable indicator on its own.
So I put in 2 Stochs with diff setting.
Not enough.
This time I will use a new way of using stoch...with OHLC....
And only in fast frame, if it 2min charts, it will be fried.
So : 2 Stoch + OHLC + Trendlines + fast frame....

Too fast ?
Not to worry., My brain...
In ranging market like yesterday, the move is damn slow.
I will test it only for one day SIM then will go LIVE.
One day ?
I have thousand hours experience 'flying' those charts.

Of course, if the market in trend in this next session, my 'sideways plan' will be postponed.

Consumer Confidence Report + 2 others

CL moves slowly till 10.00am Consumer Confidence Report... still use Simple Bracket mode

Safety Rules

These are safety rules. Enough of trading rules that I don't follow :-)

1)  2 Type of tradings - trailing stops for trending  and simple bracket for sideways. Use Moving average to determine which is which. Line can be used to determine strength of structures...However, chart setup patterns are the same  : 'Stepping stones' (OHLC) and "Broken Dam SU1" (MA)

2) If I made mistake in LIVE trading , stop immediately and dont go to SIM and then back to LIVE. Try another day

3) Use printer

4) Calm the mind before trading

Mixed Moved

Yesterday was a mixed move.. I hope today was a clear tredn day

Probabilities

2 kind of set up: Chart and Mental

1. Chance of my chart pattern will be correct : 1/2 = 50%
2. Chance of my mental setup will be in correct mood :1/2 = 50%

Thus probabilities of my trading to be correct in a row : 1/2 x 1/2 = 1 / 4 = 25%

Missing in action

slow market....between the 2 arrows, may choose the one aligned with macd 0 ?