didn't see this one. just showing the stair stepping so i can remember for next time
shorted the second retracment. volume slowed, made doji, i closed it out.
gap down, fill the gap, crush 'em
wow! i saw this one but didn't take the first move down. nice retracement. i should have paid better attention later on
buying retracment along the EMA. nice move up. got out. came down, and then a really nice move up. i missed out on the real move.
this is one i should have had. great chart.
buying the highs. silly move. i was thinking about NAV yesterday. but the difference is, NAV was consolidating, this one was already on the move. it was a great short from there
shorted retracement, broke stop, nice retracement after getting stopped out with doji. should have entered.
beautiful retracment to the ema. 4 bar pullback. textbook. should have held longer, what else is new. i was trying my hardest to not sell. it is a difference of $100 vs $600. f*in mental block keeping me from making money.
wow, nice collapse. no trade
another nice chart, i didn't really see a great entry until 1pm, but i didn't want to take it.
just the chart for review
buying highs
so, i am sticking to the plan. finding the correct trades. timing them pretty well. my only downfall is the exit. got to work on holding them. i don't know how i can practice this except in real time. i get so nervous and anxious when i am making money, i close out the position to end this anxiety. maybe i need to put on some positions and start drinking. calm the nerves a little and get some balls.
Nice trading today - well done! Keep it up - then come teach me =)
ReplyDeletethanks man. it is all about the exit. i can find decent trades, control the risk, but my anxiety on exits is horrible. i know dr. brett talks about running on a treadmill while trading to associate the anxiety and fast heart beat to something else besides being in a position.so, i am thinking about buying a total gym to set up next to my trading station. we will see.
ReplyDeleteHi Fozz King,
ReplyDeleteI like your blog. What I like is that you think and describe everything in very technical terms, and know how to read candlesticks, and have a plan. Have you gained all of this through experience (as I am trying to do) or have you gone to classes on trading? Thanks in advance. Momo.
all through experience and alot of reading. but the best sources are
ReplyDeletehttp://fearandgreedtrader.blogspot.com/
http://traderx.blogspot.com/
a e-book that traderx recommends:
http://tradethemove.homestead.com/
http://traderjamie.blogspot.com/
and when you get to the point where you realize it is all a mental game buy the book trading in the zone by mark douglas. the first time i read it, about a year ago, i thought it was blabber. i have now read it at least 4 times in the past 6 months.
make sure to read the comments on the blogs. there is a gold in them.
after some terrible days and being completely unfocused, i now have a plan. you have to reach a point where your back is against the wall. no more going through the motions. you need to put everything into action. i am at that point now. very focused. have a plan. work the plan. my only problem is the exits. that is what i am working on currently. getting rid of my anxiety when i am up money.
i also was reviewing brian shannon's book technical analysis of mulitple time frames today. i am using that idea of confirmation on at least the 5 and 10 min charts and sometimes the 15. i wait for highs, lows, or big movers, watch for a retracement to the ema, set my stop, and see what happens. i have a 40% probability of being correct. as long as my risk is 1R and my gains are 2R, i come out ahead (google van tharp r values).
during the day, i have been checking out stewies artoftrading.net and t3live. i have also in the past subscribed to these guys newsletter http://highchartpatterns.blogspot.com/ you may not trade their price areas, but it gives you a good sense of what stocks to keep an eye on.
all of this has made me learn a lot. and losing money of course.
one day it will all click. one day i feel great. tomorrow i may be depressed about my trading. but as long as you stick to the plan, even if you lose, you honestly still feel good for following the plan. kind of strange you can feel good about losing money. but as long as you lost it properly, you won't be upset.
oh, and pay attention to doji's at the bottom or top of a move. they will signal a reversal area. not necessarily the bottom.
ReplyDelete