1d:2m Futures Trades: Trend Continuation Short, Trend Continuation Long
-These 2 trades are 2 losses back to back and to add to the hilarity of this, I have been 0/8 so far this week in futures trading. I dont even understand how that is possible but ok.
- The first short trade I took because we were trending below vwap and the MACD was bearish so I took the retest of the 21 moving average since we broke down on it at least 6 times early on in the morning. Of course I short it the moment it breaks out of the descending channel but looking back this just isnt a smart trade because descending channels tend to break to the upside so shorting the upside on a descending channel is bad, yes its better than shorting the bottom but still not anywhere close to even a B- setup. The second trade was a long trade off of the 50 moving average and I lost on this as well just to watch it break high of day later. I did have one trade today that wouldve been a massive winner if I had held it but I never got filled. Just to make matters worse in terms of my week being 0/8, I have a total of 107 trades in Futures so far on Tradestation. Out of those 107 trades I only had 2 total times where I was not filled and my order was left behind. Today was the 2nd time that ever happened to me and my entry was PERFECT. I was going long over vwap after the break of the descending channel which is technically a trend reversal but its a long trade so it makes perfect sense to take long trend reversals in micro uptrends while intraday is in downtrend. I had no fill and 15 minutes later this trade moves 20 points higher. I guess sometimes you are just unlucky and there is not much you can do about it.
1d:2m Webull Options Trades: Trend Continuation Short
-Wow what a trade yet again in the options account on webull. I trade so well in this account it is very interesting. I have something like a 5R and a 70% win rate in webull options LOL. Idk how that is possible but there is something about this account that lets me take trades and I feel so unattached to it that it just feels so damn good. This short was a trend continuation short because we were trending mostly below vwap and MACD was bearish while being below the 21 and 8 moving averages. Pretty beautiful entry and even more beautiful exit. Im not sure how I trade these so well in my webull account and so shitty in other accounts but it surely has a lot to do with the fact that I am very unattached to these trades since sometimes multiple days go by before I even open my webull account. I need to start opening this account daily and finding those clean patterns so I can hold them in webull then trade them in Tradestation. I also need to make sure that I dont just give away all my options profits with shitty futures trading. Although, I do think that both of my futures trades had the correct idea, I am just so unfamiliar with continuation trading that I really have to work a lot on it.