Sandy - no trading

Be prepared.

Long ; +small plus

Exit: as price stalled at SR lines, exit position as market not moved fast as expected - then price move up again..close pc to avoid emotional decision. :) But you may called it 'no guts' :)
Entry: Put stop order at below market price as I thought market was not strong

I will miss this good session

My family will held a festive Hajj during Thursday session and again I will miss an opportunity. I need to pray to Allah to grant me more  time to meet opportunities

On the grind

Oil report and a group of old people had meeting - so the market was slow. However, in future,  I will sim trades at 10.30am to test my setup in fast environment

Hmm

CL moved early, as early as 6.30am !..I hated when that happen as I know it meant that today's opportunity is as good as gone already..and I hated it further when it prove me correct.....What left was tricky precision move that hard to be detected at 8am..then choppy session even though volume was high..One the reason was CL has dropped to an abyss that has no real support at the bottom - so I GUESSED it want to find firm footing first.

ps. OMG CL can read my mind...when I was typing the prev para I heard my audio alert but I ignored it...then I saw the chart show a perfect entry..

lesson: If you're a trader, don't give up your hope in the market,  you need to LOVE IT....and... if the market moved early ..I need to wait till 10.35am before close shop ;)

Monday blues

Traders decided based on last weekends SR, therefore the price action quite tricky. On my part, my job was looking for a perfect pattern and that pattern nearly completed when I realized one "average " requirement not matched, so I halted.

My decision was correct as the market suddenly switched down and trapped other big candle traders . I took my breath and closed the PC. Moving average need to be respected which nearly 90% traders use it.

Gred B pattern

Traders waited the report and rollover days produced Gred B pattern  that I will not take when my bullets only a few..But I may take these Gred B pattern when the account permit

Not my type

After a run yesterday, today market more suitable to "ping pong players". Traders volume shrunked and at 9.24  I decided to close the pc earlier.

My trigger is the ? mark

I saw  my set up...The question pop up..Is this the one ? No answer from my brain..
The market follow my plan.

Then I saw a nice line near 9am...Again that question pop up.Is this the one ? No answer from my brain.
The market drop according my plan.

Then no more question pop up...and no more signal...

Of course I knew that CL will run amok today as both my son AND wife besides me in front of the PC - as I were preparing my 8 y.o. son for his end of year exam. But this should not the excuse as I acknowledged it already. I have to accept the fact that I need to execute the plan when the moment come even though I could be distracted by anything....

I knew the ? mark came as my brain acted as a safety regulator for my best interest. I had a clear cut plan in my mind.. But when the moment came, the brain not giving a "go" nod, instead it give out a "? " mark.

From this experience I also printed a checklist to execute...May be my Visual brain need that assurance when it pop up a ? mark when moment of the lowest risk for entry come . A top-rated hospital staff once told me that they marked several checklist to ensure they do the right thing even though they knew it already, just to be on the safety side...i.e don't cut the wrong eye, or cut the wrong leg.

I realized that the highest risk is not to take action according to plan.On the other hand, to be fair, I will give chance myself some initial errors in executing the plan

Changed my mental set up

From
I pictured myself trading my best setup, using single lot bullet, maximum 2 times per day or I do nothing.


To :
I pictured myself trading my best setup, using single lot bullet, maximum 2 times per day .

Why:
Time to do it

Volume revisited

I done some homework on printed charts
I  learned from the gurus that price action only confirmed if the volume is higher...
But my printed charts show that 80% of the best  opportunities often came when the volume is low.
A sort of against the trend before follow the trend - tricky isn't it ?
Who say trading is easy ?

Trading Days & Time

For 6E trading...
I trade from 8.30am to 10.35am  EST,  5 days/week

My 60% part of success- part 2

The session was quite tricky, and my best setup was no where.
But I'm really glad that  I can sit in early to capture the potential move from now..
Sooner or later I will not miss that time and tick.

Missed entry within 2 seconds

Open the computer, activated DOM, then saw an entry.
I wanted to put a stop entry but the market moved up as predicted  and I missed the lowest risk entry 2 seconds for a gred C move that has value USD 250 +-
That was a close call..
Missed a tick before and then missed the time now.

post edit: that move valued usd 700