Nov 222013
 

I expected balance (which admittedly wasn’t very logical) but when I saw ES making new highs I knew I was wrong so I cut my loss on the pullback.  At that point I knew I wanted to trade long so I waited for price to come to my zone (the exact spot where I initially got short) and took the long.

Note that the signals were bullish when I entered my short so starting next week I have a new rule:  Don’t fade signals.  I don’t need to see the sell signal because I’m trading off a zone, but if I have signals against me I won’t step in front of them.  That would have prevented a couple losses this week and so i’ll see how this rule does for next week.

The second trade was against selling signals but since there were both buy & sell signals there they cancel each other out.

It’s subtle and nothing is mechanical, but I do try to make it consistent and repeatable.

nq_2013-11-22_2152

 

Nov 212013
 

This is a trade that had confluence as it met my criteria for both my order flow analyzer setup (blue arrow on a pullback to a level) and my other scalping setup that I’ve been working on.  Finally!  Lately I’ve been taking more of the 2nd setup and a bit neglecting the first.

Price pulled back to the zone which gave me a valid setup for #2.  However I didn’t enter because I was waiting for a signal.  The signal came and I entered long.  Now there is an interesting point here:  Had I entered on the pullback I would have had a better price.  However, waiting for the signal gives me a better win rate and boosts my confidence.

Now where to target?  You can see the red line on my chart and that’s what I targetted.  As a reminder I’m trading 1 lot but I want to trade as if I were trading multiple.  If I were trading 2 I’d take my first target off at this line and then hold the 2nd for a new high.  I plan to go to 2 lots once I have some more data and work out the details with my 2nd setup.

I hope all that makes sense.  Please let me know if you have questions.  If you’re interested in trying out the indicator let me know.  The market is making new highs now and the second contract would have made more money.

If one can be patient and wait for pullbacks and time entries properly with low risk, one can be profitable.

PS: The blue arrow coming right after the red sell arrow set it up for a red signal failure and those are usually good trades.

nq_2013-11-21_2037

Nov 192013
 

Yesterday I took two stop outs.  These are from another setup and so I wasn’t using signals for these, but after reviewing my trades as of late I’m going to add the signals to the other setup and see if that improves my results.

The first trade stopped out.  The second had sell signals but then price couldn’t go lower and buy signals came in.  But I let it play out and stopped out.  For a small stop out this is not an issue.

nq_yesterday_2013-11-19_2145

 

Tonight I took one short and similar to yesterday’s 2nd trade, the buy signals appeared and price couldn’t go lower.  It actually touched my target and didn’t fill and so I bailed, saving myself a stop out.

nq_today_2013-11-19_2131