sometimes it works even when u do a lot of mistakes..

ok.. today was quite a readable day but i did couple of mistakes when it comes to money management..

today i traded both markets, dow jones and nasdaq as well.

the first deal i put was long at dow jones (ym) - there was a strong selling pressure at the daily low. it was a solid intermarket situation - quite simple to understand as the (majority of) sellers is stupid public trying to push the price lower as a reaction to intermaket divergence. i am buying, going against it. the second deal on down jones was in simillar manner, but upside down.. breaking the high. here i screwed up the second target, it should have been closed much higher

 

today´s trades at nasdaq were pretty much quite allright except the second one, where i was unable to make risk-free state and lost 190 dollars although the price action showed the symptoms the market was going to move higher. i did not listen to it and and took a great loss. this trade was mismanaged very badly. it should have been break even at the end, not -190 usd.. anyway, shit happens and mistakes are here to teach us.

the daily result 255 usd netto 

easily readable high

..but second target was completely mismanaged..

i did not have time to trade now. this is all i have

complicated daily high auction

i did couple of mistakes while trying to catch daily high.. today´s session was in the name of small targets as the volatility decreased rapidly

low liquidity vs. high volatility

the first trading day after brexit is naturally quite different compared to "normal market state". when it comes to volume/volatility analysis, we can see the price jumping over several levels like a crazy frog. it is a sign of a strong nervousness at the side of the subjects that are in charge of quoting the limit price at the depth of market. liquidity is disturbed as they move the limits out when the market touches the quoting levels. as a result of that, the volatility increases. in such market conditions i always increase cautiousness and concentration alongside with decreasing my traded volume.

it was quite apparent to me that there were bigger seller market orders at the lower price today. i preferred short entries. the first two were with small position of 1 contract.

it is noteworthy that the market environment didn´t change since open - the volume stays the same..

brexit...

market volatility begets emotional volatility.. i skipped the trading sessions aroud brexit and will start on monday again

three out of four markets i observe were locked because of trading limits they reached in premarket

no matter how hard you try..

..sometimes you just cannot make it

today it was a loss. i started the day with a loss and i finished it with a loss. i traded only half an hour in the late hours and anything i did today was pretty crappy..

the first deal was here - loss 200 usd. but it was correctly managed. the market moved lower and strong auction took place at low of the bar - it tells me i should define the stoploss orders

of course it moved up after it filled my stoplosses. then i sold short the daily high but the price moved only for the first target and then continued upwards, the result of this trade = zero. the last trade was actually a reentry as i noticed the buyers were not strong enough after breaking the highest high. their power to move the price higher weakened. moreover, i observed other symptoms of a reversal that was about to happen. but the trade was not managend correctly. the targets were closed too early..

the result is -40 usd, which is quite ok at the end of the day.. but it could (and should) have ended in profit today

trend is your friend

do you believe in trend? i sometimes do..

there were too much sell market orders absorbed in the second trade, that is why i used the emergency management to free the risk..

fomc.. non volatile part of the session

today just one trade again. i don´t like these non volatile periods too much.. who does, right? that is why i was little bit more agressive today, not to lose too much time in front of the screen. i took short at mid level, from my standpoint, it is (sometimes) better to strike the market at a particular levels agressivelly, instead of hesitate. of course you need to see an entry signal - here i noticed the buyers losing their powers to move the price higher and at the same time i there was the thickened price action (acumulated volume) on the level of my first target, where i planned to throw away a part of the position to make the whole deal "stress free" very quickly..

the trade had a drawdown around 280 usd, which still is something i am willing to overcome quite easily, but at the same time, it is an indisputable sign of not a precise timing entry - but never mind.. there slow markets are complicated when i comes to timing entry - 3 out of 4 contract had to be thrown away at a very minor profit to make the trade stress free in the area i had planned. the fourth contract was closed when the sellers diminished near low of the day

late (reactive) buyers

this was a nice trade according to volume/orderflow - the buyers from low moved the price up, afterward, the LATE buyers came in to be accumulated by the sell limit side at the top of the swing. i am taking short against them. in this case i didn´t really care too much about the sellers, which were already in the market. it was because from times and sales i could see (and assumed) that it was the side of buyers that was much more reactive, since i could see their absorption by bigger sell limits (my pure speculation)

it was the only deal that i took today..

today´s trading session was pretty much about being able to overcome psychological stress of losing. although i am not a fan of letting trades fall into such a deep drawdowns, sometimes it just happens. anyway, although it ended up with profit 560 usd, this is something i don´t really feel comfortable with. this is how it should not look like..

luring buyers - shorting the mid

friday the 10th, the market offered this setup, "luring buyers",

although this was a loss, it is a trade that deserved that risk. this is where i closed the deal

how to put an entry in a consolidation according to volume

this is an example how to (not) put a trade within a tiny consolidation - i opened the first two contracts in the middle of the consolidation which is definitely wrong place, it was a mistake and not be repeated - as soon as i put the deal, the price moved downward to test the volume cluster where i opened other two contracts to move the average price slightly below. the truth is, that this was the level where the first set of two contracts should have have been opened, not the second one. the market can always test (or break) the low of the consolidation where the stop losses of buyers might be hidden, which, after all, happened right away - the market looked bellow the low to check the "stop loss liquidity", and obviously, found nothing interesting, and thus it is the signal to open another contract to move the average entry price even lower, with the target in the middle of the consolidation where the most volume, and most liquidity, is waiting to be tested next - that what exactly happened..

today´s first deal was long at dow jones when i  figured out the trending market structure. after a bearish candle with one sided auction finished with an accumulation of sellers, i jumped into the long position. this is the kind of volume/price action that i construe as "luring for selling" - in order to take such a deal, i need to see the price retreats from high with very strictly defined volume profile of the bearish candle. it has to look like this one - lot of sellers vs. no buyers with strong selling pressure at the end.

although the market moved lower, i believed in that deal and finaly took profit, unfortunately, the market did not went too far up, as i assumed previously, so i booked only first target and the second one ended up at the break even price. 

the next and last trade of the day was at nq, short. timing entry was very preciselly done according to the wtr study (u can find it for free at intraday.cz) the entry level was planed couple of minutes before the trade happened so yeah, these are the kind of deals that i like the most - a perfect locatin with a perfect orderflow situation - i took it with higher position

this is how i closed that trade

today´s markets started with a sharp upward movement but after a couple of dozens minutes they became extremely slow and hard to trade. these are the times when it is better to switch the charts off and take a nap..

i tried to catch the first-touch high of dow jones, but after my short entry, the market imminently absorbed high number of high sellers (which is always a bad sign) and kept crawling to higher prices (which is even worse when being short). he surged in a mode that i attribute to a fond or a bank (more on this point latter). i decide to open one more contract at a higher price (although the market setup was not perfect, so in order to move my average entry price higher and thus was able to get easily out of this risky position and take the target as soon as possible. regrettably, ym continued eating high sellers without letting the price fall down. i closed that deal and took a small loss since i figured out i was at the wrong side of the market..

all other trades were at nq and all were profitable. the last one was little bit creepy, as the first part of the position was opened too early at (false) break of daily high, and closed at the worst moment possible, just before the market moved towards poc where the original target was put. the market does this to me on purpose really..