New Rule: Never short above vwap never long below
I have to find a way to make sure I never fight the trend again becuase it is just a losing strategy. It could possibly work in very unique scenarios but on a daily basis it is just unhealthy of a strategy to consistently try to do. Trend Contination needs to be the way that I get out of this. I need to find those clean long entries above vwap and those clean short entries below vwap.
1d:2m 1st Futures Trade: Trend Reversal Short
1d:2m TOS comparison
- We broke down through vwap and I took the retest of vwap risking the break of the 8 moving average. we also were below the 50 and 21 and 8 but I think those are nice for possible confirmation of ideas but trade ideas should not be based solely on them. I need to stop watching them cross and thinking the momentum has always switched because it surely has not. I will try the MACD more going forward because it seems to really pain a cleaner picture. This short is not awful but not good whatsoever. SPY was still above PDC on a green day and we havent even gotten below vwap or open price and held 1 time yet today. not a good idea to just short into a gap up with no gap fill and a quick move below vwap especially the day before FOMC where its expected to be extremely choppy.
1d:2m 2nd and 3rd Futures Trades: Trend Reversal Short
- These trades were just awful truly. I get it, yes trend reversal this trend reversal that, trendline break here trendline break there, it means NOTHING. Momentum is usually 1 sided all day but I use these stupid indicators to tell me when to exactly buy and sell when in reality I need to be identifying that momentum based on vwap PDC and MACD and once the momentum is chosen that is the ONLY direction I am allowed to trade. no other scenario is allowed. For at least 1 month I have to follow this rule. Lets see how february will be if I can simply not short above vwap and not long below.