Joey's MP Journal

This is a discussion on Joey's MP Journal within the Trading Journals forums, part of the Reception category; Originally Posted by Joey25 Sold at 1254.50 Stop at 1257.25 Exit at 1254.00 (market order before close) Gross p/l = ...

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Old Jul 11, 2008, 5:30am   #46
 
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Quote:
Originally Posted by Joey25 View Post
Sold at 1254.50
Stop at 1257.25
Exit at 1254.00 (market order before close)
Gross p/l = +0.50

Total for the day = +1.50 +0.50 = +2.00
good calls Joey !!
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Old Jul 11, 2008, 11:50am   #47
Joined Mar 2005
Joey25 started this thread
Quote:
Originally Posted by fbutera101 View Post
Why don't you try dropping the pattern down a bit and looking for smaller break points? If you don't get that, and you don't get your pullback, then you just deal with it. You can't have them all ya know.

Also, you are taking such small winner it makes me wonder if you are truly benefiting from using the profile at all. Seems like you're sitting and waiting all day for tiny scalps. You're taking advantage of noise and not the directional edge the profile gives you.

Just my two cents.

Frank
Fair play Frank. That's part of the reason I'm doing this journal - to expose myself to some positive criticism and hopefully improve.

Joey
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Old Jul 11, 2008, 11:58am   #48
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Quote:
Originally Posted by rathcoole_exile View Post
good calls Joey !!
Cheers Garry.
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Old Jul 11, 2008, 3:10pm   #49
Joined Mar 2005
Thought going into the open

Joey25 started this thread 3 stand-out levels for me in the overnight action so far:

Yesterday's RTH high (1258.75) through which there was a large failed auction spike

Yesterday's close (1254.50) which has formed a minor swing high

HLC/3 (1250.25) a clear support-turned-resistance level.

University of Michigan release a report at 9.00am, so no trading for me until then.
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Old Jul 11, 2008, 3:23pm   #50
 
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i'm still cautious of that big fat weekly S1 sat at 1246 .....
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Old Jul 11, 2008, 3:30pm   #51
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Quote:
Originally Posted by rathcoole_exile View Post
i'm still cautious of that big fat weekly S1 sat at 1246 .....
That's the overnight session's Value Area Low
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Old Jul 11, 2008, 3:53pm   #52
 
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Quote:
Originally Posted by Joey25 View Post
That's the overnight session's Value Area Low
so if price doesn't bounce off it, what's the VAH as a target ?
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Old Jul 11, 2008, 4:07pm   #53
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Quote:
Originally Posted by rathcoole_exile View Post
so if price doesn't bounce off it, what's the VAH as a target ?
1258.25: pretty much the pit high from yesterday
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Old Jul 11, 2008, 4:09pm   #54
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Potential Scalp

Joey25 started this thread I've entered the follow sell limit:

Sell at 1249.50, with a stop at 1252.50 and a target at 1245.50

HLC/3 and a support-turned-resistance level overnight
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Old Jul 11, 2008, 4:27pm   #55
 
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Quote:
Originally Posted by Joey25 View Post
1258.25: pretty much the pit high from yesterday
oh, i like that as a target, that's the Midpoint between PP & R1
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Old Jul 11, 2008, 4:35pm   #56
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Quote:
Originally Posted by rathcoole_exile View Post
oh, i like that as a target, that's the Midpoint between PP & R1
Did you just make a fortune shorting S1?
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Old Jul 11, 2008, 4:45pm   #57
 
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not a fortune, but once price went above S1 I did put a sell stop in :-)
same as I still have a buy stop just above PP ...


now i've put a stop buy at 1241 too


22:06 scratch all resting orders
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Last edited by rathcoole_exile; Jul 11, 2008 at 5:06pm.
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Old Jul 11, 2008, 8:56pm   #58
Joined Mar 2005
11th July Trade 1

Joey25 started this thread Sold at 1249.50
Stop at 1252.50
Exit at 1245.50
Gross p/l = +4.0

Have entered the following new order:

Sell at 1253.75
Stop at 1256.75
Target at 1249.75
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Old Jul 11, 2008, 9:11pm   #59
Joined Mar 2005
11th July Trade 2

Joey25 started this thread Sold at 1253.75
Stop at 1256.75
Exit at 1256.75
Gross p/l = -3.0

Pretty criminal as I was 11 onside. Oh well.

Next order is:

Sell at 1267.25
Stop at 1270.25
Target at 1261.25
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Old Jul 11, 2008, 9:50pm   #60
Joined Mar 2005
11th July End of Day / Week

Joey25 started this thread Trade 1
Sold at 1249.50
Exit at 1245.50
Gross p/l = +4.0

Trade 2
Sold at 1253.75
Exit at 1256.75
Gross p/l = -3.0

Total = +4.0 - 3.0 = +1.0

Total for the week = -1.50 + 1.25 + 2.00 + 1.00 = +2.75
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