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.


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