Aug 192011

The VA trend is down, but the market opened with an open drive up.  I missed the small pullback to get long.  When it got to yday’s VPOC I was watching how it traded.  When I saw weakness in buying I went short.  Since it was counter-trend to the move up, I went 1/2 position and got 4 pts.  “One shot one kill” as Barry of eminiwatch would say.

Then I saw weakness in selling and got long but this time on sim as I was done with real $ for the day.  Then another short which got my first target and stopped on the 2nd.

My notebook is not powerful enough to run all my charts including some of my proprietary indicators, so I’ve been scaling back my charts to the minimum.  And I really like it.  Decisions are easier and quicker, and I can really focus.  This is a major change for me.

Another change I’m testing on sim:  Before I would set alarms at my levels and let the market come to me.  Lately I’ve been watching the market very closely and when I see a low risk entry I will verify that it’s compatible with the movement between my areas.  For example if price bounced off support and was on its way to resistance I’d be looking for a long.  It’s a slightly different approach as it allows me to trade in between my levels which is useful if I don’t get an entry at a level.  It should give me more trading signals.  Tighter stops will give me the confidence to take those.  It’s a work in progress and as I get more practice on sim I hope to take more with real money.

Vacations are important to me as it provides time away from the markets.  Time to think about things from a different point of view.  I’ve only been trading 1-3 hours/day while on vacation, yet I feel like I’ve made a lot more progress this week.

The girls are awake so it’s time for a swim.


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