Tuesday Log – Ah-ha, Click, Got it!

Today I felt a bit more coordinated as I was pulling levers, pushing buttons and following along with EWS and the market. I had the proverbial ‘click’ go off in my head today as I saw things within the system that translated to my trade planning and paper trade execution. I’m beginning to get it.

I took one live trade at around 1015 once the doji printed on the 5 min. I was just looking for a quick couple of points on 1 C , and let the last C run back to 50 area but, my BE stop was hit to the tick before my “long idea” headed to my planned target. I’ve got to work on these stop areas. Developing trust in the systems will help me. Result: +2.0

EWS was test driven on the sim today. Sold in the 1030 resistance area just under the previously identified demon level of resistance. I mistakenly had only 1 C working the trade so I was unable to scale the trade (although I could have added on but I’m not yet that evolved). I used the EWS tools that helped me identify my target. Since I had only the one C, I used it as a swing trade and let it ride to my extreme lower target. I noticed a level of confidence in the trade due to a plan / trade idea and I just let it work. Sure, paper trading is “easier” emotionally, but what I am doing is testing the system, building trust in the system before going live. I like what I see. Result: +9.75.

Later in the afternoon, I did some scalps both long and short for quick 1-2 point targets based on the TC set-ups and the EWS system numbers and methodology being learned. It was awesome to “see” the targets, have a good feel for the market price action and work my plan on each trade. Since I had already bagged a nice “profit” earlier, I was now going to limit size and be conservative to insure I wouldn’t risk my realized reward. Between 1330–1400 I was just looking for small bites from the market and I ended up with a nice afternoon snack. Result: +7.0

This is part of my game that I need to improve, “the bunt”. Singles happen many more times than extra bases and so is the same with trading. The extra base hits will come. Focus on “small ball”, move the runners over and when making outs, make them productive outs. The spray of hits will come.

Plenty of ah-ha moments today. The clicks are triggering in my head and I feel confident that I’m “getting it”. The dynamic synergy within the members’ site has contributed to my understanding. Simply put; amazing!

Trade Well !

Note: I have not forgotten about adding 'Trader Tips' into the posts. I will be contributing soon