Last night I had one of those “aha” moments when a light bulb went on in my head. It may have been of low wattage but never the less, still a moment of enlightenment regarding EWS. I’ve been thinking more and more in relation to the “combo” set-ups and beginning to see it.
Last night as I was planning for today’s trading day, I applied my “aha” to an overnight trade. Risked 2 points to make at least 10. I set the sim trade before going to bed and bought the 18’s. First target was just below the 24Aug close where I scaled out ¾ of position. Remaining quarter of position was targeted for the previous session demon level of 31’s. Closed position in 30’s ahead of the crowd and the open. Result: +28.5
Took a live trade long just ahead of the 1000 eco reports in 33’s, just above R1 and support area was ID’d around 30. Risked 2 to make 4+. Pre-set the sell to just above yesterday high and near price target using EWS combo thinking. Result: +6.0
Went back to the well in live account and tried playing another buy on pullback to 35’s thinking the area might hold as support due to being the high yesterday. Risked 2 and was stopped out. Result: -2.0
I played around in sim during lunch session by using not so much intuitive entries but, by using EWS methodology as I experimented with some scalps. Results were mixed and basically a scratch between 3 trades.
Today I definitely “felt” the market. Although results would not necessarily reflect it, I felt the ebb and flow today. Saw some target areas, thought about combos and executed some trades using some intuition and some methodology entries and exits. All in all I felt pretty good about today’s trading. The moments of enlightenment as I learn the nuances of EWS are exciting steps from which to build on.
Trade Well !
Posts
No comments:
Post a Comment