Gentle Trader

Posts Tagged ‘long’

Nice long setup overnight. Didn’t get it, though (just woke up).

End of day picture:

Boring range day. Profitable, though.

Long setup early in the day:

End of day picture:

Perfect long setup before market opens:

Short setup after the market opened:

End of day picture:

Very strong down trend day, with more 2800 declining   than advancing stocks in some moments. Ended up with 2269 more declining stocks, which is a huge number. Tough to fight a day like this. Better look for trend setups instead of counter trend ones.

In the middle of the day I discovered most of my trades were done with my platform in simulator mode. Bad. Really bad considering it would have been a nice profit day.

Long setup during overnight session:

Sellers from friday’s high still holding short positions (12:57hs):

Short setup as twitted was followed by another short setup in a row. This one must be the more perfect short setup I could have. It’s going to my “Patterns” page:

Even with this great setups, I ended up negative for the day.  Lack of confidence in the setups made me over trade.

Long setup I didn’t took. Triggered in overnight session.

Short setup:

I had commited all day long to a meeting, so I was not supposed to trade. Day started with a sell off right to 1201.75, precisely touching a LVN in my composite chart. Text book!

First trade of the day could have been done right after sell off, when ES started to bounce:

Another long setup:

Then the market went sideways until the end of the day. I arrived in my desk at that time and tried to trade “just to make my daily target”. Wrong decision that costed me a few hundred bucks. Not really any setup was triggered, but I had in my mind I had to make the daily target. This completes second loss in a row.

This picture tries to sum up my setup. Had one good short entry that I did not take (was not trading at that time). After that good one, I got a not so good long entry that I took. Got the signal to close it and didn’t close. The market sold off hardly and I added more long positions (stupid decision, initiating a TILT state). In the last push down, I got stopped out and then the market started a nice rally… without me.

Lesson learned: DO NOT force entries after you missed a good one! New good ones will appear later. Must be patient.

After an extended holiday, here I am with a nice example of market makers running stops. This happened on Friday’s session.

Low volume lead price into recent low, which was taken out. We got a spike in delta right below the low (desperate sellers getting rid of long positions). After that, volume increased hitting the ask.

Just after the cash market opened, a nice long setup formed. After a little consolidation, cumulative delta broke up before price.

Nice pattern that’s being occurring every day.