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The Journ(ey)al of a Lazy Trader 0 replies

mt4 read only password question 2 replies

"Read only view" on Metatrader 10 replies

Attachments: Staying In My Lane - A Read-Only Journ(al/ey)
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Staying In My Lane - A Read-Only Journ(al/ey)

Quoting Divergence
{quote} today i had a win loss win win stopped as far as do i know any futures traders that make 300000 no i dont but there probably is i am not one of them 100000 + thats fine for me
Right.. and having a loss/loss/win/loss day would force you to make more on other winning days but you know that already and that is why you know how much you need for expenses and anything above that is just gravy. It helps with you mindset but only if $100K is what you need as a baseline need. in my case, I would need to have a buffer for losses or requiring atleast 15+ contract. I am no major in statistics or probability theory but feel it is always a good place to exploit fat trails with profits to cover for fat tails in losses.

And frankly, I make far more than $300K if you factor in the entire benefits package (401K employer contribution, executive deferred comp, and RSUs which all grow in value over time). Quitting and going fulltime is a complex equation :-)
Staying in my lane...
Quoting hilmy83
{quote} ok fine. I mean you have a good job now, in your 50s right? so you got at least 10 years of good working life left before your brains starts to go lol. So just take it easy G. I think we both started futures about the same time (about a year ago?), so we're total noobs here. So there's no need to hasten this beautiful process of trading to get to to your goal. Just enjoy the process of learning and embrace setbacks. Trade 1-2 contracts max on that 10k. NQ is a monster as you know. You already know how fast you can lose your money even with...
Agree. I am downgrading this endeavor to "daily lunch fund" and enjoy my life a little. Screw the retirement income part lol
Staying in my lane...
Quoting VEEFX
{quote} Agree. I am downgrading this endeavor to "daily lunch fund" and enjoy my life a little. Screw the retirement income part lol
dinner fund:

Too small for me to be working late... back to my original goals for algo and stay true to my plan. Manual "training" can remain lunch/dinner/coffee money :-

Edit: trading 1T range chart

Still in massive loss from yesterday... please don't let my profitable post fool you guys. I am posting to get my spirits up and stay motivated to continue this journey as per my original plan :-(
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Staying in my lane...
Identifying my Tilts:

 

  1. Getting aggressive (almost reckless) when I have floating/realized profits. ("Hey - It's market's money, it's okay to lose it all" mindset)
  2. Getting the trend direction right but timing of entry wrong or stop placement wrong taking out my position out only for price to continue in my direction. I get pissed.... super pissed to the point that my next trade becomes a large SL or no SL trade or "let's keep moving SL" type trade. I need to listen to Mark Douglas!
  3. Fear of Missing out - only when I am crunched for limited time when I can trade - better to stay way from platform when I don't have room for atleast 30 mins. No more scalp trades before meetings at work etc
  4. When I get distracted (platform issues, drop son to school, get call from work etc) my mind goes numb and careless to the point that I don't care about the outcome of the open trade and when the trade goes in loss, I curse myself to hell every time.

Staying in my lane...
Quoting VEEFX
{quote} dinner fund: Too small for me to be working late... back to my original goals for algo and stay true to my plan. Manual "training" can remain lunch/dinner/coffee money :- Edit: trading 1T range chart Still in massive loss from yesterday... please don't let my profitable post fool you guys. I am posting to get my spirits up and stay motivated to continue this journey as per my original plan :-( {image} {image} {image} {image}
No surprise but need to document - I lost all my profits from last night in just one fucking trade at NY open
Staying in my lane...
Quoting VEEFX
{quote} No surprise but need to document - I lost all my profits from last night in just one fucking trade at NY open
Find the trend, follow the trend. DO NOT fight the trend or try to "get in" early on a reversal. It just isn't worth it.

Anyway, best of luck to you. I believe you will figure it out.
Quoting VEEFX
{quote} No surprise but need to document - I lost all my profits from last night in just one fucking trade at NY open
if you dont plan the trade and trade the plan you will be done with trading before you know it
Quoting magnumfreak
{quote} Find the trend, follow the trend. DO NOT fight the trend or try to "get in" early on a reversal. It just isn't worth it. Anyway, best of luck to you. I believe you will figure it out.
I am beyond pissed (obviously 3 Contract is killing me!)
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Staying in my lane...
Quoting Divergence
{quote} if you dont plan the trade and trade the plan you will be done with trading before you know it
I am thinking about this trial and error shit I have been doing since Oct. Not being fixated to a strategy is the reason why I still don't have a fully documented plan. When you quantitatively analyze strategies, there is a lot of flip flop until you settle on something that is worthwhile. Really a downside of relying on data :-(
Staying in my lane...
Quoting VEEFX
{quote} I am beyond pissed (obviously 3 Contract is killing me!) {image}
this one trade alone would have recovered all my losses. Shouda Coulda Woulda.... useless shit! Every trade outcome upon entry is a 50:50 no matter whether you trade it yesterday or today or tomorrow :-(
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Staying in my lane...
This is why I feel Trading will always have an element of good and bad "luck" but Luck is not a strategy I want to rely on and that is why I enter my trades thinking the outcome is always 50:50 in the long run.
Staying in my lane...
I am curious if anyone knows of an indicator that will measure the length of ups and downs of an EMA move (based on slope/angle)

If ema changes color to green when up and red when down, I want to measure the distance it traveled when in green and when in red. I want to test a theory on
EMA(1, (H+L)/2) and it's relation to probabilistic outcome of any strategy i.e. is there a correlation between winrate/lossrate and distance traveled.

Just my fucked up mind wants to know shit like this :-(
Staying in my lane...
Quoting magnumfreak
{quote} Find the trend, follow the trend. DO NOT fight the trend or try to "get in" early on a reversal. It just isn't worth it. Anyway, best of luck to you. I believe you will figure it out.
Okay mr. trend follower.... would you enter now?
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Staying in my lane...
Quoting VEEFX
This is why I feel Trading will always have an element of good and bad "luck" but Luck is not a strategy I want to rely on and that is why I enter my trades thinking the outcome is always 50:50 in the long run.
Your emotions are in control. Get that in check or you will NEVER make it.

Next, why trade 3 contracts when you haven't proven to yourself you can trade 1?

Every system has losing trades, period. It is unavoidable. 99% right still means 1% wrong. There are people far better at statistics than I am that could tell you the probability of 2 or more losing trades consecutively for any given winning percentage. How you manage that risk is what is going to determine your success or failure.

Hopium is lethal. Don't let it into your trading.
Quoting magnumfreak
{quote} Your emotions are in control. Get that in check or you will NEVER make it. Next, why trade 3 contracts when you haven't proven to yourself you can trade 1? Every system has losing trades, period. It is unavoidable. 99% right still means 1% wrong. There are people far better at statistics than I am that could tell you the probability of 2 or more losing trades consecutively for any given winning percentage. How you manage that risk is what is going to determine your success or failure. Hopium is lethal. Don't let it into your trading.
I hear you... and the only way I can remove emotions out of the equation is to always consider a 50:50 win/loss trade outcome no matter what my stats or backtest results says about the strategy. I only vent out after the fact or after the trade is closed.

As I said, I would love to see your first trade towards recovery. If you win your first trade based on $800, you will be the only "Prophet" I will worship going forward ROFL
Staying in my lane...
Quoting VEEFX
{quote} Okay mr. trend follower.... would you enter now? {image}
The ultra conservative approach would be for me to wait until the 21, 60 and 200 ema's line up. Wait for the pull back then take a trade in the direction of the trend. Right now, I don't have that. The 21 is below the 60 and the 60 is above the 200. Mixed signal. It's Friday near lunch time. Markets are thinning out for the weekend. This is not the time of the week to be aggressive.
Quoting magnumfreak
{quote} The ultra conservative approach would be for me to wait until the 21, 60 and 200 ema's line up. Wait for the pull back then take a trade in the direction of the trend. Right now, I don't have that. The 21 is below the 60 and the 60 is above the 200. Mixed signal. It's Friday near lunch time. Markets are thinning out for the weekend. This is not the time of the week to be aggressive.
Friday until 11am ET is my usual cutoff (from the old days) but might be different for NQ. Plus, I have a tendency to tilt on Fridays after noon pacific :-

Could you please post a chart to explain pullback
Staying in my lane...
Quoting VEEFX
{quote} Friday until 11am ET is my usual cutoff (from the old days) but might be different for NQ. Plus, I have a tendency to tilt on Fridays after noon pacific :- Could you please post a chart to explain pullback
No problem. The chart below is 30 second. The same holds true for higher time frames.

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The second chart shows the current situation. Things are starting to line up but as you can see the last 30 minutes or so things have been mixed up.

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Quoting magnumfreak
{quote} No problem. The chart below is 30 second. The same holds true for higher time frames. {image} The second chart shows the current situation. Things are starting to line up but as you can see the last 30 minutes or so things have been mixed up. {image}

Same EXACT thought process on the 5 minute chart:

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You can be more "aggressive" on the 5 minute chart trading the same way by looking for just the 21 and 60 ema. Like at 2130 last night.

Find the trend, follow the trend. Manage risk.
Quoting magnumfreak
{quote} Same EXACT thought process on the 5 minute chart: {image} You can be more "aggressive" on the 5 minute chart trading the same way by looking for just the 21 and 60 ema. Like at 2130 last night. Find the trend, follow the trend. Manage risk.
Thanks for sharing.... I like the simplicity of moving averages especially when looking in the past :-)

My butt hurts watching such awesome moves man.
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Staying in my lane...
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