Good pic. Exactly. Remember this pic and what it stands for when you get to these situations again. Really makes clear how waiting for 2 good trades and cutting a bad one quick is so much better than hoping, or being impatient, etc.

Rearden's Journal

Don't worry about the entry, just put it at the s50 and pivot and it's ok. or enter a little high. doesn't matter so much right now, you're learning. it will matter more later on when you move out of this exercise and go full account again.

Rearden's Journal

Very good. We are doing an exercise so let's put the P&L aside for now. Entries got better on the way down, with the best possible entry being way down at the swing. We say possible because we don't know what will happen next. Because we don't know ...

Rearden's Journal

Price is below simple50 and pivot, immediate entry. Hovering right at the swing location. If it goes below and stays below, I will close this basket of trades having imprinted a very important lesson. The last time price came down, it went back up ...

Gejordan Weekly Journal

Welcome Back to day something of the exercise. Bias: UP Move: UP Swing Stop: Look Out Below We return with price back below our S50 and Pivot. This calls for an entry. Need to move targets down to last swing from where price came. Not pictured, but ...

Gejordan Weekly Journal

The trade survived the day. Appears we will start above the pivot and s50 next week, but entries look like they will be about the same. I'll double check on Sunday. ? Closing this way signaled a push last week, maybe we will see this again. + ...

Gejordan Weekly Journal

Price behaving similar to Aug 20 and 21. Let's see if price breaks down like it did then as well. Then we'll see if we get stopped out or if price behaves like it did that week and turns. Emotionally... holding these in drawdown is tough. But, it's ...

Gejordan Weekly Journal

If you want to go for the biggest swing, that's fine, just do it every time. Or, exit each entry at the swing from which it came. So the lowest entries would be where you show and the upper entries at the very top. Or, do it the way I'm showing. The ...

Rearden's Journal

And with this, you just broke the rules for TP for the exercise. I know your ego wants more, but we are trading pennies. Put the ego aside, follow the rules and learn something. You just reinforced changing your rules. It may go up there, but will ...

Rearden's Journal

Closed between simple50 and pivot. The pivot has an entry already yesterday, so I won't be entering anything new. My TPs look a bit high in the pic, so will move those down to the 1907 area. Last down swing when we closed between the simple50 and ...

Gejordan Weekly Journal

Good... so what we are seeing isn't deep retracement, we see shallow retracement or no retracement. What if we miss them? Well, we just wait on the retracement after breakout and participate. What if we still get faked out? then we learn where to ...

Rearden's Journal

Need to enter a bit early again, not going to be at charts until quite a bit later. Going to be below the pivot and simple50 so entering straight away per the rules with profit target at 1.19ish swing area. image I think the beauty of this ...

Gejordan Weekly Journal

good start here... but use the ranges created by the rules of the exercise. yes, price holds or even does a small range at the breakout location and then pushes versus deep retracement. let's see what this actually means to our trading over time.

Rearden's Journal

i suggest not using plus and minus in this way. It seems you're talking about it being good and bad where price is. Price isn't good or bad, it's just moving around. i suggest journal how you feel about the movement of price against you or with you. ...

Rearden's Journal

I wake up and find that price has pushed down. This is definitely like the action of the 19th. We'll see if it goes back up or crashes down. Not enough data to make any big conclusions at this point. If I compare it to July or even April/May when ...

Gejordan Weekly Journal

I'm going to be away from the computer until late tonight, so going ahead and entering for tomorrow. We are going to be below the pivot and Simple50 so entering right away. image My exits will be up in the 1970s. Definitely going to remember Aug ...

Gejordan Weekly Journal

Next thing that can happen in the exercise... What if you couldn't get in the trade yesterday from the pivot. You may have kept an entry at the pivot or you might have moved up the simple50 entry if you are an active trader. Here is the example. I ...

Gejordan Weekly Journal

Out at BE on this. When it tried and failed at 1.20 I moved stop to BE in case of the drop we are getting. When I was an unprofitable trader, this bummed me out. I hated giving back gains and felt like it happened all the time. So after every time ...

Gejordan Weekly Journal

New cleaned up chart looks like this. Closed the simple50 pending order, moved top white line which will mark new highs. image

Gejordan Weekly Journal

A few things to cover. The trade: My trade from near the pivot (see last post) went through the old high and made a new high and stayed above (the candle before the arrow and the candle the arrow points to in the chart below). Price didn't really ...

Gejordan Weekly Journal