TygerKrane's Pip-Pickpocketing

[TygerKrane]

Lost about $3 getting my initial entry, woke up and exited at +$51. Fair enough trade off, I think I can say. Bottom to Top, 147 pips.

I exited full position b/c I couldn't figure out what I could do next. I couldn't figure out from zline analysis if it had more upward potential or not. Plus it had made it past the consolidation area where last week ended (on the M15 chart, around June 4 20:45). After I exited the full position I wanted to re-enter and see if I could get more, but I found that I was too confused looking at charts by zline analysis vs TRO rat reversal off of Day Extreme. (Maybe I was just also being cheap and didn't want to give up/put at risk any of the money I just made. I think either of these two posts relate to it a bit; Overtrading Type #2, or I am not able to catch big moves because...) But maybe so hard to think b/c I had literally just rolled out of bed and my head was whatever. I need to go back and re-read my zline notes anyways.

71% on account overnight (8-9 hours), but then again, I was back to SUPER-small account level again, lol.

Trading stocks is so sh!t, compared to Forex...

[TygerKrane]

I exited full position b/c I couldn't figure out what I could do next. I couldn't figure out from zline analysis if it had more upward potential or not. Plus it had made it past the consolidation area where last week ended (on the M15 chart, around June 4 20:45). After I exited the full position I wanted to re-enter and see if I could get more, but I found that I was too confused looking at charts by zline analysis vs TRO rat reversal off of Day Extreme. (Maybe I was just also being cheap and didn't want to give up/put at risk any of the money I just made. I think either of these two posts relate to it a bit; Overtrading Type #2, or I am not able to catch big moves because...) But maybe so hard to think b/c I had literally just rolled out of bed and my head was whatever. I need to go back and re-read my zline notes anyways.

What I mean to say is, if I woke up to the above chart 7A EST, and I HADN'T had the benefit of having a great trade behind me already for the day, how could I approach the above chart so that I could still get my daily profit target of the day??

This is the question that I need to know how to answer...

When I can look at a chart and balance, [highlight=orange]spotting the right opportunity right away[/highlight] vs [highlight=darkorange]knowing when to wait longer for the right opportunity[/highlight], then I will have conquered a great cause of my drawdowns.

Right?
Right! I won't have those rushed, regretful entries that come when my mind is flustered asking, "Is NOW the time??? I don't want to miss it before the day is out!?!"

And I'm sure you all agree that even starting from 7A EST, that still leaves me enough time in that day to catch a zline setup on EJ...

[TygerKrane]

...

So apparently, this is my journey thus far:

What crazy swings!! LOL
From last month to now...any negatives caused by psychology I would say.
[YES! Even after +$200 I grinded it down to nothing, psychology, I tell ya, but learned TONS on both the way up and down, so its not a problem.] My trading is getting better though, Seriously!

[TygerKrane]

Paper Trade setup?

[TygerKrane]

Paper Trade result




Looks like dragon33 had the same idea as me. (I think this is an EJ trade, his chart's prices peak differently than mine.)




I have to learn however, when to go for long term holds vs short term holds, he no doubt took his profits and added something substantial to his gains in a quick trade, and meanwhile, I would have been waiting and investing my time in expecting another large move. I would be unhappy with my results at this point basically. (I probably wouldn't have profited anything b/c my mind was stuck in long term hold mode.)

Well anyways, I post my results chart here b/c I want to study in what manner price moves out of this area (b/c it is not instinctive to me what I should do next if I was actually in the trade; or if I wasn't in the trade and wanted to get in for the first time.) And it is 2P EST, so will take note of that as well.

[TygerKrane]

Don't mean to just post pics up, but there is something I am looking for here.
It actually looks pretty simple from this point, but I'm just not getting it.
I probably just need to re-read my notes to get my confidence back.
But really from this point doesn't look too difficult, but I just can't help that I see equally convincing reasons to go both long and short from here...

[TygerKrane]

I decided to do SOMETHING
SHORT @ 109.11

::EDIT:: while marking up my pic, SHORT @ 109.25 got hit.

[TygerKrane]

For some reason, I'm not so upset about this loss, will be a good one to learn from I think. At the time of entry, the analysis was still 50/50 to me, so either way, it is one to learn from.

[TygerKrane]

Next Entry
SHORT @ 109.88

I wonder how this rates as far as impulsive goes b/c I haven't re-read my notes yet still, AND I entered this trade within 5mins of turning on my trade station. But my last trade entry was like 5 hours ago, so at least I can't call it flip-flopping overtrading.


:::After taking the pic, at this point already have 20 pips on initial entry which is good enough, but am hoping to see a further dip lower first [YES B/C I LOST ON MY FIRST TRADE, I AM STRETCHING THIS HOLD OUT]:::

[TygerKrane]

Good night pirates

::NOTE:: will end up taking a small loss if plan doesn't go through, just trying to give the trade some room, but I must admit, I'm not completely loving this feeling...