Monday
Step 1: Swipe Liquidity (X)
Step 2: Internals going in opposing direction (X)
No Trade
- Later on in the day we did swipe HOD and were trending down on all internals so that wouldve been the trade but by then I wouldve probably been out working
- If internals were long and we were moving up at open how do we know to not trust going long?
1. We never swiped a SSL for a long thesis to begin
2. Weight was going down directly at the open which negated the ADD move higher
What did I trade?
- Lost $50 from my phone going long 2 times. I shouldve known better to just let it go but the degen came out in me. I think so long as I have any urge whatsoever to take a trade and make money cuz I like easy money, I will never be a profitable trader. I need to understand when and why I have edge and that is when I trade not any other time ever no matter the circumstances
I objectively define my edge
I pre-define the risk of every trade
I completely accept that risk or I am willing to let it go fully
I constantly monitor my susceptibility to making errors
I pay myself when the market makes money available to me. not when I want money
I act upon my edges with zero hesitation
I understand that these principles of success are the difference between proftiable and not therefore I never break them
Tuesday
Step 1: Liquidity hit
- This is a tough one to call because you could say that yes we fakes out the PML and then moved higher but that is also somewhat of a light liquidity hit. I think in hindsight though this made the most sense for the day.
Step 2: Internals trend in opposite direction
- After 9:34 VOLD trended green and after 9:40 ADD trended green. Weight was green immediately
Step 3: Entry and Target
- Entry should have been near the PML but if spiked so fast into the open that it was very difficult to get in and make money on that massive 50 point rip higher.
- You could argue that once we broke the PMH and intnerals are strongly trending higher on all fronts that we should target the next liquidty level and then target the next one again. If we just blast through the first LL and internals are still increasingly getting stronger in same direction then its time to look for the continuation.
- Trying to get long in here wouldve been the trade that made the most sense but even then its somewhat deviated from my strategy since I do mostly reversals. I think this is a decent example of when we start going through LLs like its knife through soft butter its time to look for continuation rather than the reversal. Also if the VOLD only spend 5 candles in the red and then immediately got green and was +2 then its probably staying green the majority of the rest of the day. When the VOLD only spends small amounts of time in one side and doesnt go below or above the 2 mark then its very weak in that direction and that was sellers on tuesday
What did I trade?
- I lost over $150 of my own money because I went short. I have no idea why I do these things and what compelled me to go short. I know that when the OP is set I only go in the direction of that OP never against. NEVER EVER EVER against. I broke that rule and paid the price for it. If I want to make trading work then cannot do that under any circumstance.
I objectively define my edge
I pre-define the risk of every trade
I completely accept the risk of the trade or I am willing to let it go
I constantly monitor my susceptibility to making errors in my system
I pay myself when the market makes money available to me
I act upon my edges with zero hesitation
I understand these principles of success and therefore I never break them
Wednesday
Wednesday is a perfect example of sometimes the edge is wrong and that is okay. It is not okay to continue trading and lose a bunch of money for absolutely no reason other than anger and tilt.
Step 1: Liquidty hit
- There were no broader timeframe Liquidity hits but if you look closely to PMH there was a swipe of it in the morning right at the open adn at that same time (see below)
Step 2:
- the internals were trending down. Up until 9:48ish the VOLD was decreasing but the ADD was increasing. Weight was also going down so that could potentially negate the ADD
Step 3: Entry
- Anywhere in target of the new LOD or PML retest
What did I trade?
- I took this trade and was up about 5 points but then I ended up losing 2 on it. I shouldve just walked away and realized that today was not going to be a day where i was going to make money and that is okay. Instead I shorted at the low of the big red candle becuase VOLD was under OP again even tho ADD was up a shit ton and weight was bouncing all over the place. I thought it would be smart to try to target the PML but nope I just got slowly squeezed out. Why did that happen? Firstly, if we never did a BSL swipe then why am I even trying to short? its pointless. Secondly, if internals are above OP below OP above OP then its pointless to try to trade it. Trend should be simple and easy to understand
Thursday
STep 1: Liquidity hit
- No hit in liquidity here but it was very close and we have been trending up nearly all week so when it gets exhausted we should expect somewhat of a pullback
Step 2: Internal trend in oppsosing direction
- We do have internals trending down after about 10:30 but without the trigger of the attempted break of HOD its hard to get a thesis in for being short
Step 3:
- To get into this trade and target the PML would be quite difficult i think simply because the hod was never swiped for the LHLR pattern. The NQ and RTY futures symbols did actually swipe it though so had I caught that then maybe I wouldve been more willing to take this trade but even then this is somewhat low probabiltiy version of my strategy
What did I trade?
- I was long early when internals were trending up even though we never swipe LOD. That was stupid and makes no sense. It wouldve made a lot more sense to get long after we actually did swipe the LOD from the open (never swipe PML until later on in the session). I was wrong on the long and cut that for scratch then I got short and was up 5 points but then got stopped out on a news candle then that just so happened to eventually be the LOD swipe that I wanted for a long but internals were not trending up anymore at that point so there was no reason to trade it.. I got back in long later on with target of HOD and the internals were all trending up at that point but i took profits fast since I knew this was still somewhat weak and news heavy from the tuesday massive 70 point move up. Ideas were not great but execution was quite good other than the news stop out that wouldve hit my target perfectly. Just stop holding into news man
Friday A++++++++++++++++++++ setup
Step 1: BSL hit and perfeclty being wicked out
Step 2: Internals trending in opposing direction
Step 3: Entry
- Context: We have been rallying all week, its friday, we should retrace some of that move before close. We have clean wicks above the BSL spot and I could have entered 1 contract in this spot meanwhile within 4 minutes the VOLD was already trending down HARD and same with the ADD and so was the weight. This is 4 confluence, as well as clean BSL hit. This is where we need 4ES and make 20 points.
How did I trade it?
I completely missed the first move because I was trying to be more patient and wait for clearer setups which is hilariously dumb. I should be just waiting for my edge to play out and nothing else. No idea why I am even watching youtube at the open but oh well I mmissed this trade so thats what happened. I got back in short later on once we started the second leg down and made about 8 points which was nice but I left like an extra 18 points on the table because I was not targeting the LOD but rather just a few points above the big drop wicks from the morning.
