Kileflephenna
04-16-2016,
I named this journal Zombie Zone because of the mindset I enter into to trade. Like a zombie, I am hungry and focused. I trade emotionless and methodical.
I have hopped around to different strategies and burned up accounts in the process. The past 60 days I have been focused on learning and sticking with one strategy. Finally I am seeing consistent success. I'm still learning, but I have overcome my mental blocks and have dedicated myself to reaching realistic trading goals.
My strategy is on the 5 minute chart. I use 3 indicators. An EMA set at 6, RSI set at 2, and the Williams %R set at 14. The RSI and %R are overlapping each other in the same window. I watch for the %R to start to cross the -50 line for a potential trade set up. Next I look for the current candle to be closing across the other side of the 6 EMA. Then I look for S/R levels. I make sure the RSI is above the %R for a buy trade, and below the %R foe a sell trade. Last, I usually wait for the final minute of a candle close to enter the trade. I like to have just under 6 minutes, so that the option expires at the close of the next candle.
I will start posting screen shots and commentary on Tuesday. I enjoy posting in a journal. I find it keeps me in a "business" type mindset. I am held accountable to the world to make sensible trades.
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I have hopped around to different strategies and burned up accounts in the process. The past 60 days I have been focused on learning and sticking with one strategy. Finally I am seeing consistent success. I'm still learning, but I have overcome my mental blocks and have dedicated myself to reaching realistic trading goals.
My strategy is on the 5 minute chart. I use 3 indicators. An EMA set at 6, RSI set at 2, and the Williams %R set at 14. The RSI and %R are overlapping each other in the same window. I watch for the %R to start to cross the -50 line for a potential trade set up. Next I look for the current candle to be closing across the other side of the 6 EMA. Then I look for S/R levels. I make sure the RSI is above the %R for a buy trade, and below the %R foe a sell trade. Last, I usually wait for the final minute of a candle close to enter the trade. I like to have just under 6 minutes, so that the option expires at the close of the next candle.
I will start posting screen shots and commentary on Tuesday. I enjoy posting in a journal. I find it keeps me in a "business" type mindset. I am held accountable to the world to make sensible trades.
? Share on Facebook