16/Oct/2023 started trading 8.20 EST, ended 12:35 usd$320.00 profit. This trading day was with the last week evaluation account. Until i feel confident, aligned with the market and the most important, without fear.
All weekend i was training my self in play back. At sunday evening i set the left chart relevant price levels, checked all week scheduled news and made some additions to my grid trading.
Price momentum is one of the key elements in several trading methods. In particular i like slow momentum to see divergences and to see when a new price direction could be developing.
So, i took the usual stochastic indicator, made an adjustment to smooth the plot and made a new one with a particular characteristic, i made it to compound the momentum of 3 instruments. As for this journal I am trading only Micro NQ (MNQ) in the compound indicator i added NQ, ES and YM.
The result is a bar momentum indicator, with red bars when the momentum is in down direction and green bars when momentum is in up direction.
The idea is to trade always in momentum direction, and if i see the price going up but the bars in red, that will mean a momentum divergence, very relevant when trading price.
First enabled a buy direction grid (in the picture i explain the elements that made me take the up direction decision).
With the new grid tool additions there is one in particular that i like, a manual stop loss level, so as protection i activated the stop loss level.
Then the price was close to a relevant price but as the market was moving up and in profit i maintained upward grid direction.
As the price was moving up i adjusted the SL level.
At overnight high the price rejected so i paused the grid.
The price made a small retrace but i wasnt sure to enable the buy direction, i know, i did not made money on the up swing but i prefer to stay out in doubt.
After the swing, i saw a price reject at a top relevant price level and enabled the grid in down direction.
I like to see the market profile levels because is common to have a price action in the high/low volume nodes, at POC and at value area high/low levels. I paused the grid.
Then price failed to continue up in the relevant price level so i enabled the down direction grid.
Was a mistake, the price resumed the up direction but as we are inside a range i did not disabled the grid, i let it run for a while.
As the market retraced the grid helped me to exit with a profit.
This was a good day, not because the profit result, but because now i feel i am back to continue trading.
The price momentum was a good addition, will continue using it from now on.
AG
All weekend i was training my self in play back. At sunday evening i set the left chart relevant price levels, checked all week scheduled news and made some additions to my grid trading.
Price momentum is one of the key elements in several trading methods. In particular i like slow momentum to see divergences and to see when a new price direction could be developing.
So, i took the usual stochastic indicator, made an adjustment to smooth the plot and made a new one with a particular characteristic, i made it to compound the momentum of 3 instruments. As for this journal I am trading only Micro NQ (MNQ) in the compound indicator i added NQ, ES and YM.
The result is a bar momentum indicator, with red bars when the momentum is in down direction and green bars when momentum is in up direction.
 |
The idea is to trade always in momentum direction, and if i see the price going up but the bars in red, that will mean a momentum divergence, very relevant when trading price.
First enabled a buy direction grid (in the picture i explain the elements that made me take the up direction decision).
|
With the new grid tool additions there is one in particular that i like, a manual stop loss level, so as protection i activated the stop loss level.
|
Then the price was close to a relevant price but as the market was moving up and in profit i maintained upward grid direction.
|
As the price was moving up i adjusted the SL level.
|
At overnight high the price rejected so i paused the grid.
|
|
The price made a small retrace but i wasnt sure to enable the buy direction, i know, i did not made money on the up swing but i prefer to stay out in doubt.
|
After the swing, i saw a price reject at a top relevant price level and enabled the grid in down direction.
|
I like to see the market profile levels because is common to have a price action in the high/low volume nodes, at POC and at value area high/low levels. I paused the grid.
|
|
Then price failed to continue up in the relevant price level so i enabled the down direction grid.
|
Was a mistake, the price resumed the up direction but as we are inside a range i did not disabled the grid, i let it run for a while.
|
As the market retraced the grid helped me to exit with a profit.
This was a good day, not because the profit result, but because now i feel i am back to continue trading.
The price momentum was a good addition, will continue using it from now on.
AG
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