Beware the Ides of March - Closed
Well. This is getting frustrating. I am locked out duirng the day, as ATR moves are so huge I don't want to get in. So the alternative? Get in during the evening.
So, looked at the charts last night and put in a short position on ZF (@ 2016hrs Sld 1 x ZF 108'135). Daily was below, hourly in the cloud and 10M below the cloud.
Was an 8-tick reversal, and put a 20-tick stop on the trade but of course it didn't matter. By bedtime, I was stopped out. You can see from a screenshot this morning what happened:
So, not quite sure what is going on. ATR for ZF currently running at 0'315 (normal is 0'150), and today the range is at 3 x the daily ATR.
I do note that most of my trades have been on the short side, so maybe I am holding a bias that way. The one long trade on 06 March was an ORB, not a long-term trade. But even that one didn't work. Since 03 March, haven't had a winning trade.
I need to figure out what I need to do. The market, of course, will do what it wants; but I need to get better in tune with what it is doing and tag along for the ride. I am not worried about being wrong once in a while, but consistently wrong hurts. Not being wrong, but seeing the draw-down to the account.
Any ideas are appreciated.....
And of course, to make things worse, I am now scared to get in. Strong market, afraid to jump in high, so about 0915hrs I thought that if price came back to the turning line, it would be good to get in. Of course, I looked and said "look, it is finally dropping! It will go further!"
Nope. Just tagged and continued higher.....
Update 1556hrs: So, I had a look at the size of the pullbacks that happened during the run-up today:
There was no way a 12-tick would be good. Need to look at something slightly different during these types of moves! Maybe a close of a bar above the low bar??




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