$SPX - Chart Link - would have been
psychologically hard to pull the trigger but you had perfect CCI
setup about 40 min after the low on an intra day chart. CCI
spiked to -450 on the open, that's not a buy, you need to see price
divergence while CCI goes higher and price goes lower, then you
look for a trigger such as a doji candle which occurred around
10:20 am
anyway we'll see what happens here this afternoon and on this
pullback from the highs
guys on these emotional days - it's easy to get emotional, best
thing, and I'm guilty of not doing it as well: Best to map out your
decisions the prior night, if X happens I will do this, if Y
happens I will do that. Actually write it down before! Like
if market sells off on Tuesday I'll look for support at the 61.8%
Fib, will monitor intra day charts, triggers. whatever.
Basically I find if you write out your decisions ahead of
time what you will do if market does X or Y or Z, then it's much
easier to just pull the trigger when one of those things occur and
be like a robot. Otherwise during the heat of the battle
things are moving fast, emotion is high, it's hard to make those
decisions.
in short if possible write a few sentences down each night in a
trading journal, the actions you will do if X or Y or Z
happens.
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SPX 5 min and comments
Posted by matt on 23rd of Oct 2018 at 01:57 pm
$SPX - Chart Link - would have been psychologically hard to pull the trigger but you had perfect CCI setup about 40 min after the low on an intra day chart. CCI spiked to -450 on the open, that's not a buy, you need to see price divergence while CCI goes higher and price goes lower, then you look for a trigger such as a doji candle which occurred around 10:20 am
anyway we'll see what happens here this afternoon and on this pullback from the highs
Thanks for all you do
Posted by joepiper on 23rd of Oct 2018 at 02:01 pm
Thanks for all you do Matt and Steve. Paid for my membership this morning.
well that's awesome man!!! great
Posted by matt on 23rd of Oct 2018 at 02:05 pm
well that's awesome man!!! great job!
guys on these emotional days - it's easy to get emotional, best thing, and I'm guilty of not doing it as well: Best to map out your decisions the prior night, if X happens I will do this, if Y happens I will do that. Actually write it down before! Like if market sells off on Tuesday I'll look for support at the 61.8% Fib, will monitor intra day charts, triggers. whatever. Basically I find if you write out your decisions ahead of time what you will do if market does X or Y or Z, then it's much easier to just pull the trigger when one of those things occur and be like a robot. Otherwise during the heat of the battle things are moving fast, emotion is high, it's hard to make those decisions.
in short if possible write a few sentences down each night in a trading journal, the actions you will do if X or Y or Z happens.