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1/26/2013
Weekend Analysis
And heres how I match the przs. Notice there was a lot of compression and retracements. Im love! Hallelujah, one partial week finished! My goal is progressing nicely. Next week my goal is to focus on dominant and main swings and pull out a winning day or twoLater!
1/26/2013
Weekend Analysis
Goals for next week:
1. 1 profitable day
2. Integrate the use of renko charts with 100 tick charts.
3. Focus on primary and dominant swings.
See renko chart below, isnt it nice? I posted the tick chart . I think they will complement each other nicely!
1/28/2013
Summary:
Trades: 1
Trades Won: 1
Trades Lost: 0
Net Gain: 0.2 %
Trading Time: 6:00 - 10:00 CST
Synopsis
I want to focus on what dominant/main swing to use, since there'll always be nested main and prominent swings, and you'll miss alot if you just use the outermost main/dominant swing. See analysis.
1/28/2013
In analysis two, I'll analyze mr pips transactions so I can become better. But first analysis 1.
Analysis 1
First, my problem has been nested main/dominant swings. Which to use? So confusing.
After I master this, everything will be amazing. Let that be a matter for me to ponder. Ok, to analysis two.
Query
1. How do I handle?
2. How do I define steep dives (urge legs which I must use price action analysis to validate the prz)?
3. How do I know when to use urge legs which constitute a bigger impulse leg to get confluence?
1/28/2013
Analysis 2
First, Mr pip's trades today. Im hoping to hard. Time to simplify things!
Heres my comments. My excuse was I was confused by the main/dominant nested thing and there was a trap bar on the abcd he entered, and didn't have this. However, there was confluence I overlooked there (see next chart below).
I overlooked that this impulse leg, because the large impulse leg was examining consisted of smaller impulse legs that I dismissed. (this can be mr pips chart)
K, im getting there!
1/28/2013
Aims
1. Use 5 min chart to get a clearer image of swings.
2. Get two profitable times in a row (this day included!)
Finished Aims
1. 1 evening of profitHallelujah!
1/28/2013
General
I am eliminating renko charts, I will rather concentrate on 100 tick charts and 5 minute charts (to learn how to observe swings better, recommended).
Additionally, I have a new format I am converging to for everything.
Every Day, Monday to Friday, These sections will be recorded.
1. Summary/Synopsis
2. Trades/PRZs
3. Analysis 1 (with queries )
4. Goals
5. General
Next on the weekend, I'll perform a weekend analysis answering my questions I have recorded in the analysis sections. I shall print my analysis out every week, because the analysis should incorporate the lessons learned this week.
The overall section is merely for whatever I like, overall updates.
I'm glad I met goal 1, '' I wish I can exchange 4 hours tomorrow, only can trade 1, too poor.
Enrolling out
1/29/2013
Summary:
Trades: 0
Trades Won: 0
Trades Missing: 0
Web Profit: 0
Trading Time: 9:30-10:30 CST
Synopsis
Nothing much happened, trading Primary and dominant legs reduces the amount of trades. Still confused about which legs I need to exchange (see trades/prz segment )
1/29/2013
PRZ
I got in at the very end of a large abcd. Not quite at the end in the middle of the consolidation that occured at the top. Because it didn't hit the 127 zone, I used ton't short. I defined some przs, one I might short from, one I might go long out of, and I circled the bottom range of the consolidation wondering when I need to buy out of it (but that wouldnt be wise, didn't even reach 38.2 of large main swing.
Ive commented about the przs, im not certain if the presence of a larger primary swing invalidates the przs.
Edit: silly me, forgot to draw on the fib extensions.
1/29/2013
Analysis
Queries
1. If the price only barely touches prz, does this mean I drew the prz incorrect (it still responded to it right, so prz should've included the close price, right?)
2. Should the PRZ zone include the retracement value (which will sometimes make prz larger!)
3. What exactly does it imply for price to pause prior to a PRZ. Before I said if another structure is formed by it, it will likely pierce it, I understand, but this doesnt appear to be the case. Need to analyze further.
Goals
1. Two profitable days in a range of 3 times. One of the 3 times must atleast be breakeven.
General
None
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