November 28th, 2022
- Really undercapitalized today considering we finally got some trend trading that was "clean."
1d:2m
- In terms of the recent price action this is very pretty but ONLY because we are not chopping all day. A true trend continuation day is somewhat rare in the past month. I really shouldve just kept going for these shorts so long as they were below the 50ma.
1d:2m 1st Trade: Trend Continuation Long
- So this was somewhat of a fomo trade becuase I wasnt really basing this entry off of anything other than "this will continue." Sometimes that is really enough to just keep going for it on a trending day but we had no clue this early in the morning what the trend was going to be. To avoid this I simply should just not be trading until 10 but i get all excited with futures so I kinda just felt like fuck it but obviously that is not what you are supposed to do. I should wait for a strong pullback then breakout rather than buying the dip hoping itll just breakout again. Again just not trading until 10 wouldve proved to me that we were not going higher.
1d:2m 2nd Trade: Trend Continuation Short
- This was a straight up chase to the downside where I entered in short on a market order just expecting it to continue. Again just reallly poor entry point. If there is one thing that is extremely important when trading trends its the entry. If you have a bad entry but are correct it is almost impossible to hold through a strong move higher. It is stupid to trade these trends by chasing lower. It always works so much better when you take the lower high anticipating a lower low because on trend trading you are somewhat anticipating the next push lower. Its a mix between art and luck from where you get in but as long as its on a fake breakout it is usually much better than the break of a new low.
1d:2m: 3rd Trade: Trend Continuation Short
- This was the only winner of the day and the reason is because I finally waited for a trend and we broke below the 50ma and the top here came right at the attempt of a higher high. We fail at moving higher then crash down lower. I really want to start getting very aggressive on these awesome trending days. You almost could anticipate tops on fake breakouts and immediately be in the profit and just take the 2 point scalp, keep entering on tops, wait for drop, take scalps, Enter again and hold for bigger winner and get that actual move through to new lows.
Easy Money:
-Lower high and lower low setups back to back to back. It for sure gets increasingly harder as the day goes on. The best trades were that first big pop fail then the second one. After that second break ot new lows we had a Fed talk and huge whipsaw then a confirmation fail through the 50ma to breakdown much further. That 12-2pm drop on a weak day lke this is always so nice. I need to find a way to just take that and hold it the entire day with a huge stop. Couldve made something like 10-20 points today on the futures if I had traded them more aggressively. That would be a nice 50-75$ day. I need to find my balance between just using bigger size and scalping the shit out of these moves on the futures side or just seeing what kind of day we are gonna have and trading options instead. Today wouldve been actually a nice day to trade options but I didnt trade them at all. Thats fine though Im in this for a longggg ass time so its fine to figure that out throughout the time but the more important part is being aggressive on these trend continuation days.
