just for memory

luckily, i had to attend to some emails this morning. i didn't pay attention to the chop. i did see that highlighted candle form, and i though, that is a perfect spot to short. i decided to just watch the trade unfold. it is truly amazing how the markets acts around levels from earlier in the day. this was certainly a level, or an area to pay attention to. it is not precise, but i feel if i can sit through it, and wait for the candle to present itself, i can do well.

chopfest most of the morning. afternoon had some legs to it. just need to find the stocks in play and go with it. i think i can do this. sitting and just watching the market is beneficial for me. i know i can identify the areas where change will occur, its just having the patience to not jump the gun. when i jump the gun i get stopped. i need to wait for the candle to form. no need to focus on every tick. just let it unfold.

the real question is, can i get catch enough high probability trades, and catch enough of what they want to give, to overcome my losers. right now, my probability for being correct is low, and my capture of profits is low. i need to change one of those factors. it takes time and that is okay. when i get back in november though, it will have to be game on. though i guess it could be game on right now. but, currently, i am just trying to see what works. testing out different ideas. come nov/dec i need to have a solid plan and put it into action. i need to get this together by next fall otherwise i am going to have to change my blog's name to "daytrading master degree student". it could be worse, i could be the "daytrading PH.D student" lol! you know who you are.

much trickier chart. that doji on the fourth candle was an okay signal. i would have rather it been positioned higher help. it was helped by that inverted hammer on the 10 min. not a trade i saw real time. i like to add some charts for my memory.