Joey's MP Journal

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Joey25

Well-known member
Mar 30, 2005
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#47
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
 

Joey25

Well-known member
Mar 30, 2005
872
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#49
Thought going into the open

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.
 

Joey25

Well-known member
Mar 30, 2005
872
236
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#54
Potential Scalp

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
 

rathcoole_exile

Well-known member
Jun 12, 2007
3,924
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Krung Thep Mahanakhon
#57
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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Joey25

Well-known member
Mar 30, 2005
872
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#58
11th July Trade 1

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
 

Joey25

Well-known member
Mar 30, 2005
872
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#59
11th July Trade 2

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
 

Joey25

Well-known member
Mar 30, 2005
872
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#60
11th July End of Day / Week

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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