Friday, April 17, 2009

NQ 14:10ET (ish)

Not much to say about this one...routine trade. Nice entry, nice exit on the break of the pattern's structure. 1.75 point loss

I have an edge, with a somewhat consistent approach to using it, but I don't have a "system" (and don't believe a strict systemized approach will work for me)....the grey area- the discretionary decision about exactly how far into S/R it needs to go before entering a trade (and, likewise, how far out of S/R it needs to go before cutting a loss...) is giving me some trouble. Failure to manage that area can turn a winning edge into a game of luck.

I have noticed that when the pace into my entry area is high, I'm able to more confidently pick off my entry and define my exit. Those setups are fewer and further between than a few months back.

No comments: