I am so disappointed with myself today. We had a MASSIVE trending day to the downside and I made hardly any money. I had a really nice trade where I made about 8 points but I stopped right after that trade and we continued lower for another FIFTY POINTS. I should walk away with about 30% of a move like that when we are trending so cleanly. I only walked away with a little bit over 10% of the full move on the day. That is so unacceptable especially when we have this extremely rare once in a couple month trading opportunity where we just trend lower and lower with clean spots to get in and very good risk zones.
1d:2m Futures Trend Continuation Short
- I took that short on the top left where I basically traded the entire move from near top to near bottom. That was a great trade but LOOK AT HOW MANY MORE THERE WERE THROUGHOUT THE SESSION. I took the first one on the day and we had 5 more that gave an AVERAGE of 13 points. I shouldve caught at least one more of these and i think im capable of catching almost all of them throughout time. Its important to note that I used to make my entire goal on the day to be about 50 cents on the SPY or 5 points on futures and I am consistently getting anywhere from 7-10 points regularily on my green days so its great that I am getting bigger winners but I really shouldve made at the minimum $100 today.
How did I miss these trades and what can I do to catch them in the future?
- As you can see here we have clean and consistent lower highs and lower lows back to back to back to back. These trades REQUIRE aggression because we dont have the best risk since the fundamental structure is only broken if we break the previous lower high. If I wouldve taken and risked the previous lower high on a lot of these trades then I wouldve been having about a 1R which is OKAY. I need to be more willing to take stabs at these trades when they occur. If you pay attention to the MACD below you can see that every single time we make a new break to the downside we have the MACD cross back to bearish all while being below the midline. We also have these perfect little mini uptrends (pullups) within this large backside move and on each of these pullups we hit a previous value area and supply kicks in and we crash massively lower. I need ot be taking these shorts anytime we get close to value areas and risk 2 points to upside looking for about 4 to downside. Then If I get right fairly fast then I can risk breakeven and then look for that next crash through the lows.
