Gentle Trader

Posts Tagged ‘setup’

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.

First short of the day (before regular time session):

As regular session starts, 2 great setups came into play: 1 long setup and 1 double short setup.

Another 3 setups happened later, 2 longs and the final short that I twittered live.

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.

Observed 2 short setups during last session.

One of the amazing features of Market Delta software is the footprint indicator. Right at the FED announcement, we could see the HUGE sell orders coming into the market.

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.

Nice short setup. Price was pushed up without volume, and just above last higher high, a bunch of stops were executed in lots of big resting (limit) sell orders. Good market maker work!