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Journey to consistency

  • #401
  • Jan 19, 2018 3:11am Jan 19, 2018 3:11am
Quoting Jupiter
{quote} Just don't be like the "others." Put like that it is a dangerous mindset!
slowly but surely I think my mindset is shifting from "bias" "it has to go a certain direction" to "wherever it goes I follow" but it's going to be alot of work getting used to.

I'm sure you're sitting over 100pips right now
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  • #402
  • Jan 19, 2018 3:13am Jan 19, 2018 3:13am
Quoting Jupiter
{quote} Just don't be like the "others." Put like that it is a dangerous mindset! Banking some. Tighten my stop... Bye
have a great weekend!
hope to see you around next week
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  • #403
  • Jan 19, 2018 3:39am Jan 19, 2018 3:39am
Quoting Piquant
"wherever it goes I follow"

...
Only by means of clear rules that make you clear which one is the impulse and which one the reaction.
Rules on trend
Rules on swing
Rules on stop...
Rules on reverse... etc etc

The correct mindset is "Is she moving as I expected?"

By Internet I can't be sure of what you get out of this "adage" on "wherever..."
Hundreds of fti readers were, are and will be "dead carcasses/corpses on the battlefield."
To me, fti is a perfect Trend Follower in pure old school style.
Beware of the light at the end of the tunnel... it could always be a freight train coming.

Now I can't really do more than this. Be careful.
If you want to trade your MA... "extrapolate" your rules on YOUR MA set...
Use Phil as a base... and, if you want, read The Dance and Choros Rules.
(My view? Abandon the MACD: it is nothing more than MA difference.
And Oscillators often lie. You have to learn how to read them in trend phases... Of course this is me)
  • #404
  • Jan 19, 2018 4:19am Jan 19, 2018 4:19am
Quoting Jupiter
{quote} Just don't be like the "others." Put like that it is a dangerous mindset! Banking some. Tighten my stop... Bye

if I may ask a question here: so if your trend in m1 is long (your rules) and staying long and you feel I wanna go short for some reason - maybe news/gossip getting to you or the long bars are grinding long or you see topping action - you will always stay with that trend and take the longs until the trend changes direction (your rules)? Of course if you are not comfortable you will trade fewer men.

Alex
check out the terrain - follow never lead
  • #405
  • Edited 5:00am Jan 19, 2018 4:39am | Edited 5:00am
Quoting alexandria
{quote} if I may ask a question here... Alex
Oh!
This is the University of Trading kicking in.
So nice.

MY answer (that is Gann's answer...) is: yes! I have to stay with the main trend... until the end!
And this is the old "Let your profit run!"
Of course in a public forum I can't say more than that.
But try to think to what I've always said, in all my posts... "fix your rules".

Trend forming
Trend comfirming
Trend established
Trend reasserting
Trend exhausting
Trend changing
Trend re-testing

Never guess. Follow and change only on clear rules. (Your personal risk and style on OBJECTIVE move)
(You feel uncomfortable? Scale out and "reassert your faith in the trend" till a clear contrary signal!)
  • #406
  • Jan 19, 2018 4:42am Jan 19, 2018 4:42am
Quoting Jupiter
{quote} ... Only by means of clear rules that make you clear which one is the impulse and which one the reaction. Rules on trend Rules on swing Rules on stop... Rules on reverse... etc etc The correct mindset is "Is she moving as I expected?" By Internet I can't be sure of what you get out of this "adage" on "wherever..." Hundreds of fti readers were, are and will be "dead carcasses/corpses on the battlefield." To me, fti is a perfect Trend Follower in pure old school style. Beware of the light at the end of the tunnel... it could always be a freight...
Appreciate the suggestion ! as always
I will have to dig deeper into the MAs
And establish clear rules

"Beware of the light at the end of the tunnel... it could always be a freight train coming"

many times I felt as though I've got this, only to lose again and again.
so that line speaks to me
that's a profound statement

As for MACD yeah I understand what you're saying
I don't really use them that much
Because like you said I keep getting divergence and really nothing happens if the trend is strong
I probably will get rid of it and keep the MAs

"Now I can't really do more than this. Be careful"

Thank you buddy again for stopping by
Word of caution will be taken seriously
Don't want to lose another account
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  • #407
  • Jan 19, 2018 4:47am Jan 19, 2018 4:47am
Quoting Jupiter
{quote} Oh! This is the University of Trading kicking in. So nice. MY answer (that is Gann's answer...) is: yes! I have to stay with the main trend... until the end! And this is the old "Let your profit run!" Of course in a public forum I can't say more than that. But try to think to what I've always said, in all my posts... "fix your rules". Trend forming Trend comfirming Trend established Trend reasserting Trend exausting Trend changing Trend re-testing Never guess. Follow and change only on clear rules. (Your personal risk and style on OBJECTIVE...

...perfect answer - and confirmed my thoughts that I grapple with some times. Piquant should do this too if I may be so bold.

Thank you my friend.

Alex
check out the terrain - follow never lead
  • #408
  • Jan 19, 2018 4:49am Jan 19, 2018 4:49am
Quoting Piquant
{quote} Appreciate the suggestion ! t
I meant "MA test"...
Convergence and Divergence of the MA, one on/against the other...!

Divergence price/oscillator(Momentum) is other delicate stuff.
  • #409
  • Jan 19, 2018 4:55am Jan 19, 2018 4:55am
Quoting alexandria
{quote} ...perfect answer -... Alex
Same old story:
Advanced Dow
Basic Elliott...

Remember the great, immense lesson by Livermore... "Sit tight! Did you get it?"
(I cry when I write this one: shiver down my spine...)

PS. we are near the absolute top... scaling out.
Only last platoon in.
Tighten my stop.
And thanks to Mummy and to fti.
  • #410
  • Jan 19, 2018 5:08am Jan 19, 2018 5:08am
Quoting Jupiter
{quote} Same old story: Advanced Dow Basic Elliott... Remember the great, immense lesson by Livermore... "Sit tight! Did you get it?" (I cry when I write this one: shiver down my spine...) PS. we are near the absolute top... scaling out. Only last platoon in. Tighten my stop. And thanks to Mummy and to fti.

follow not lead... let the trend reveal itself and follow it.. we cannot force it... when it changes then we can follow that but it must show us... never too high to buy or too low to sell

Alex
check out the terrain - follow never lead
  • #411
  • Jan 19, 2018 5:11am Jan 19, 2018 5:11am
Quoting alexandria
{quote} follow not lead... let the trend reveal itself and follow it.. we cannot force it... when it changes then we can follow that but it must show us... never too high to buy or too low to sell Alex
  • #412
  • Jan 19, 2018 6:03am Jan 19, 2018 6:03am
[quote=Piquant;10688813]{quote} "Beware of the light at the end of the tunnel... it could always be a freight train coming" /quote]

It usually is for traders!
  • #413
  • Jan 19, 2018 7:02am Jan 19, 2018 7:02am
Quoting cat
[
Happy to see you around! Cat
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  • #414
  • Edited 4:15am Jan 20, 2018 1:26am | Edited 4:15am
Quoting cat
... it could always be a freight train coming"... It usually is for traders!
This is me yesterday during my last LONG trade... surfing that train... again through all the Bears' Stop Losses. (Here)
No need to tell but... note the protection for my eyes. (Visualization is the key. Be always sure that you are able to see, observe and compare!)

LET the trend be your friend!!!
Why do I insist?
It is useless... "Not all can be winners in the Market."
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  • #415
  • Edited 7:22pm Jan 21, 2018 7:04pm | Edited 7:22pm
short on Nikkei
single entry
(on a diff demo)

wanted to test the waters on a different instrument, I got in as it was falling (a little too late) instead of waiting for a retracement usual moves start from 8:30, my entry was at 8:00 I kept the position running with -30$ floating loss as it neared 8:30 retracement occurred and now I was sitting with -63$ I figured I just can't trade Nikkei on my mini acc, it would be gone in a matter of days if not weeks. But I stuck it out with the position as I saw no logical reason to bail out as all of my MAs were in correct order (fast moving) and now price was below 100sma, and I also saw no divergence on 3m that means one thing keep the position it will go down sooner or later. My goal was since I got in at a bad price I would be more than happy to bail out at BE, then there it went down without looking back in one go dropped over 90pips thats 90$ with 1lot all it took was 20minutes. Nikkei never fails to impress me.

now I know what it means to have a plan/method/rule whatever one prefers to call it. When I was sitting with a floating loss of -63$ I didn't panic or have the strong urge to close trades like I used to in the past. I also didn't open many position one after another like a compulsive gambler. Because I had my tools keep me reassured that I was on the right side, maybe a tad bit earlier ? I also didn't feel the need to close trades as soon as it went against because I had my exit plan/rule.

this is just 1 trade, now I need to keep trading DAX until the end of Jan and see if I can recover my DD and bring up win to loss ratio at 70% and cumulative RR at 1:2.

my max DD is at -7.6% by the end of this month I should have a clear idea if it could go beyond 10%. I just have to stick with "the method'' and "the rule". Of course the plan is never to exceed 10% max DD.
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  • #416
  • Jan 22, 2018 2:41am Jan 22, 2018 2:41am
2 short
1 timing was off
second closed at BE.

am I a BE trader now?
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  • #417
  • Jan 22, 2018 3:04am Jan 22, 2018 3:04am
another quick scalp short
it's going to be a crappy morning although I probably should have held onto my short
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  • #418
  • Jan 22, 2018 4:44am Jan 22, 2018 4:44am
i can trade smaller lots
i feel good about going live next month
always happy to risk small
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  • #419
  • Jan 27, 2018 2:23am Jan 27, 2018 2:23am
So after months of trial and error I'm back to level 0 again.
It feels nasty.

And yet partly its me to blame.
I jumped around between this and that, green and red lines, that band and this candle.

Unfortunately nothing has worked. I've tried everything. PA trading, discretionary trading, MAs , buying above or selling below the open crap. I think my exploring should be concluded and be done.

I'm too tired of exploring that I can't even relax on the weekends. All I do is open up my laptop first thing in the morning and look for combination of indicators, patterns and everything else to aid me in the process of making a decision.

Only 1 thing stood up for me after months of painstaking exploration and I think it's about time I abandon things that do not work for me and transition to the things that did work for me I call it double divergence clean or not so clean level setup which I dabbled for a bit few months ago with great success but ended up taking different patterns because well they're so many identical divergences and kind of went downhill from there because I didn't even know when to take profit.

I guess that's it for me, if that's not it then what is it ?
If only I knew how terribly difficult it is to make a living out of this would I have gone into it ? probably not.

Monday I'm back to business on my demo and will trade my one and only pattern

I realize there'll be all types of divergences some works and some don't it really depends on the context and to be able to trade them all you have to be well versed in the world of divergences and study every single occasion but i can't do that "maybe for now" I'll just trade the one and only divergence pattern" that I'm most familiar

with. Occasional losses sure will occur but if this is it then winners should take care of those losses. The problem is to wait for the pattern to occur. Patience will be name of the game for me from now on. No more gambling. And once the pattern is emerging to accurately identify "the one and the only" will also be a challenge and I'll have to train my eyes to spot "the pattern".
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  • #420
  • Jan 27, 2018 3:30am Jan 27, 2018 3:30am
Quoting Piquant
So after months of trial and error I'm back to level 0 again. It feels nasty. And yet partly its me to blame. I jumped around between this and that, green and red lines, that band and this candle. Unfortunately nothing has worked. I've tried everything. PA trading, discretionary trading, MAs , buying above or selling below the open crap. I think my exploring should be concluded and be done. I'm too tired of exploring that I can't even relax on the weekends. All I do is open up my laptop first thing in the morning and look for combination of indicators,...
try trading of a chart only no indicators use 1 hour and day for trend , kindest regards
people leave, but this thread will go on for ever
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