Played around with sim trades today. Started to apply more intuitive type trades into the mix but still unsure of how to listen to myself. I’m beginning to make notations on my chart that indicate whether I was considering the trade but failed to execute. After a few days of data I should have a starting point of how to listen to and act on my intuition. This is a large portion of EWS.
Another key part of any trading system is feeling the market rhythm. Today I felt it at certain points of the day. Entered three good trades, two long, one short and all winners. Scaled out of each long and took it all off with the short. These range days can be good for a trader but need to identify and scalp. Result: +12.00
Spent about an hour over lunch time with a member to help set up 2nd Twitter account for access to EWS member Tweets. Good progress made. Seems to be a bit difficult to “find” members partly due to privacy feature. Once linked, the member Tweets seem to be working.
There were very good posts today from members. Very instructive and helpful. The community is coming together and building up nicely. I believe that support and encouragement within the EWS community is very important. The learning process is a journey and those that have ventured down different paths can offer others good directions to help them find their destination. Keep wearing down the paths until the favored route is second nature.
Trade Well !
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2 comments:
Steve, it's funny how much we are thinking alike on some of this stuff. I've been coming to realize that so much of what I am learning from EWS is about learning to listen to and feel the market. The tools are really there simply to help you do that (as well as to help you to focus your entries/exits).
There is something very zen about it. The word "balance" keeps coming into my mind.
I'm also spending a good deal of time thinking that I want to start logging my observations about the market (I also need to log trades, etc.), but I want to start building a library of observations--what I am seeing/feeling/thinking about the market at a point in time . . . I can think of a variety of reason for this. I also want to log my actions/inactions to some extent as I have found myself many times acting opposite from what my eyes and instinct tell me is happening out there.
Anyhow, long comment . . . appreciate your sharing via the blog and in the EWS rooms.
JK,
Thx for the comment (and a good one at that).
EWS is a gift and those of us who are taking the time to learn and understand the system will take our trading to new levels. But at the EOD, it's about the development of intuition and self trust.
I'm glad to hear you are considering recording your observations, trades, etc. Most if not all great traders keep journals.
Look at it this way...it's like going into a company meeting and not taking notes. If notes aren't takin, who knows a day, week, month later who the hell was supposed to do what, when, timelines, etc. Not sure about others but I by taking notes, we have accountability.
I'm looking forward to E's vacation next week. It will give us a chance to help moderate the room and furhter develop our grow with EWS. Hopefully Zeek will post as well.
BTW, thanks for the comments in EWS. I think its VERY helpful to share our thoughts even if its "thinking out loud".
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