Lack of patience was the killer this morning. Was watching the 873 and 868 area (FIB levels) to act as short-term support, but instead of waiting for price to get there, I took an early Long position in the high 870s. Should have waited for better prices. But I have to say, the setup was on a 5-min chart, so at least I didn't make the mistake of exclusively (over) trading the 1-min chart like yesterday. Ended the day positive with +$627 but not satisfied with today's trading.
TradeStation Performance Summary:
Trades Plotted on 1-Min Chart:
Current FIB Levels (240 min chart)
Market Structure Chart (5-min)
My views on trading the E-Mini S&P 500 Futures utilizing Price Action, Market Structure, Volume/Market Profile and the Auction Market Process. Visit www.EMiniPlayer.net for Daily Key Support/Resistance Zones, Trade Plan and Educational Recaps.
Wednesday, November 12, 2008
Wednesday 11/12/2008 Trades
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Don't be so hard on yourself, considering the choppy market we're having this week, and the fact that your only trading a small portion of the day, your doing great.ReplyDelete
Keep it up!
Thanks Michael, appreciate the feedback. I'm focusing on being more patient this morning, but not really feeling the market pace so only trading 1 contract with tight stops. My reads on the market have actually been very good, but didn't execute. Need to find that sweet spot between patience and over trading. Thanks again for the feedback.ReplyDelete