ES Thursday 3-26-15

Bands for the day. Good luck to all.

strange day so far...

guess where i had a greenie at? 36 even... and guess who missed it..... sigh

In an attempt to instruct, how would you miss that one? Swing low ON, 5M price action just take the higher high (even though it's 4 points higher) and away you go.

Are you watching for too many things? Remember there are way more opportunities than you can take advantage of. I remember early on being mad for every move I missed, you can't catch them all. Pick a strat, master it totally then add in. Good luck.

Originally posted by NewKid

guess where i had a greenie at? 36 even... and guess who missed it..... sigh

well, there were a couple of problems. in an effort to minimize the areas i look at, i eliminated the greenies from my chart and instead have them written on a post-it. this was in effort to keep my charts "cleaner". in hindsight, i do not think this was such a great idea because this was not the first time i have missed one. so i plan on adding them back to my 1-min and 5-min charts but with nothing else. right now those charts are without any lines.

once i missed my optimal entry (at the greenie), i did not want the trade anymore because i felt i had compromised my trade location, which is important to me.

my other problem is lack of focus. if i do not have the line on my chart, i tend to lose focus when the market is away from it and get distracted. this is something i am working upon and have improved over time but need to get better at it.

thanks for calling me out. even though today was a positive day, i left some gimmes on the table and i never feel good about that.

Originally posted by Big Mike

In an attempt to instruct, how would you miss that one? Swing low ON, 5M price action just take the higher high (even though it's 4 points higher) and away you go.

Are you watching for too many things? Remember there are way more opportunities than you can take advantage of. I remember early on being mad for every move I missed, you can't catch them all. Pick a strat, master it totally then add in. Good luck.

Originally posted by NewKid

guess where i had a greenie at? 36 even... and guess who missed it..... sigh

I would have everything on every chart that you look at. If it appears to be too many levels, elongate your price axis so you don't always see so many. But when price gets there you're aware and prepared..

I thought greenies are HVN? Aren't HVN targets and not initiate levels?

Originally posted by NewKid

well, there were a couple of problems. in an effort to minimize the areas i look at, i eliminated the greenies from my chart and instead have them written on a post-it. this was in effort to keep my charts "cleaner". in hindsight, i do not think this was such a great idea because this was not the first time i have missed one. so i plan on adding them back to my 1-min and 5-min charts but with nothing else. right now those charts are without any lines.

once i missed my optimal entry (at the greenie), i did not want the trade anymore because i felt i had compromised my trade location, which is important to me.

my other problem is lack of focus. if i do not have the line on my chart, i tend to lose focus when the market is away from it and get distracted. this is something i am working upon and have improved over time but need to get better at it.

thanks for calling me out. even though today was a positive day, i left some gimmes on the table and i never feel good about that.

Originally posted by Big Mike

In an attempt to instruct, how would you miss that one? Swing low ON, 5M price action just take the higher high (even though it's 4 points higher) and away you go.

Are you watching for too many things? Remember there are way more opportunities than you can take advantage of. I remember early on being mad for every move I missed, you can't catch them all. Pick a strat, master it totally then add in. Good luck.

Originally posted by NewKid

guess where i had a greenie at? 36 even... and guess who missed it..... sigh

yeah i think i am going to start having all lines on all charts. more time consuming but definitely worth the effort.
greenies are past untouched developing VPOCs. buyers/sellers usually came in heavy at that price and the premise is that when the market gets back to that level, they will try repeating the same action so a bounce is a good probability. sometimes it is a turning point, sometimes it is a temporary bounce but the point is that you should be able to get something off of it.

you are right that they are also used as targets instead of initiating there and i use them as both. the purpose served depends on the context.

Loser @ +10 today