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Plan the Trade

  • #1,141
  • Jul 11, 2017 9:19am Jul 11, 2017 9:19am
Record of settings;

TPO;

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and VbP;


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Attached Image
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,142
  • Jul 11, 2017 11:29am Jul 11, 2017 11:29am
Quoting The Cableguy
Record of settings; TPO; {image} {image} {image} and VbP; {image} {image} {image} {image}
Thx TC - tried setting up the TPO indy last night but need to start again as it gave me an error message. I will spend some time on it again today so might be m.i.a. until tonight. Hope Harold sticks with the thread as he is an awesome guy to have around.
  • #1,143
  • Jul 11, 2017 11:56am Jul 11, 2017 11:56am
Quoting binnie
{quote} Thx TC - tried setting up the TPO indy last night but need to start again as it gave me an error message. I will spend some time on it again today so might be m.i.a. until tonight. Hope Harold sticks with the thread as he is an awesome guy to have around.
Maybe its easier to share chartbook
I might be wrong , I have been wrong before
  • #1,144
  • Edited 12:50am Jul 12, 2017 12:24am | Edited 12:50am
Quoting binnie
{quote} Thx TC - tried setting up the TPO indy last night but need to start again as it gave me an error message. I will spend some time on it again today so might be m.i.a. until tonight. Hope Harold sticks with the thread as he is an awesome guy to have around.

I doubt Harold's gone far. He has a real passion for trading and also selflessly sharing his experience. He trades freely, without fear and minimal emotion, the exact mindset we all strive for. Trading by one's self can also be a lonely experience, so it is only natural to want to share trading set-ups and sessions good or bad with other like minded individuals.

I myself, have had a world of personal problems to deal with recently, of which has been affecting my trading greatly. This realisation in itself, just goes to show that mindset, of all things, regarding trading has to be right. I'm pleased to say, that it currently feels like i'm through the worst...

There has been a lot of change regarding trading in the last 6 months. Changing over to Futures, saying goodbye to Spreadbets and learning a new platform, trying to combine years of EW experience together with Market Profiling etc...

The target is to have the same success experienced on sim, with live trading and as a result, i have gone back to trading later in the session. It requires a different approach and i made the same mistake again last night, as i mentioned a few days ago - chasing a move, instead of waiting for the pullback... you know you've made a mistake straight away, as the stoploss is basically exactly where your entry should be. Result is - 10 instead of +10/15, again that's a huge difference in just one trade.

The great thing is that i've identified the problem and can walk away smiling cos i can see the mistakes i'm making!

It was the kind of trade that if occurring at open, it would most likely have run, so again, the different style needs to be adopted. I'm finding generally though, that i can get away with less than 10 tick stops during a certain pattern (usually corrective chop), from (US) mid afternoon time and accumulate 20 - 30 ticks that way.

Once i am trading as freely live as i am on sim, i will revisit trading the open. Have to say, the whole profiling combined with pullbacks is the most exciting stuff i've seen in my entire trading career.

Still lots to learn, but i can see real progress almost on a weekly basis.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,145
  • Jul 12, 2017 2:49am Jul 12, 2017 2:49am
Quoting The Cableguy
{quote} I doubt Harold's gone far. He has a real passion for trading and also selflessly sharing his experience. He trades freely, without fear and minimal emotion, the exact mindset we all strive for. Trading by one's self can also be a lonely experience, so it is only natural to want to share trading set-ups and sessions good or bad with other like minded individuals. I myself, have had a world of personal problems to deal with recently, of which has been affecting my trading greatly. This realisation in itself, just goes to show that mindset,...
Pleased to see you are through the worst of your problems. And good luck with your trading. Harold is a good guy, willing to share, the genuine article, and worth listening to.
every Saint has a past. Every Sinner has a Future
  • #1,146
  • Jul 12, 2017 4:21am Jul 12, 2017 4:21am
Quoting The Cableguy
Record of settings; TPO; {image} {image} {image} and VbP; {image} {image} {image} {image}

i'm using this for mm cg:

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Become the casino
  • #1,147
  • Jul 12, 2017 4:26am Jul 12, 2017 4:26am
there are a lot of instances where price goes with by 8 comes back to entry then goes to tp
Become the casino
  • #1,148
  • Jul 12, 2017 4:36am Jul 12, 2017 4:36am
Quoting erasmus66
there are a lot of instances where price goes with by 8 comes back to entry then goes to tp
I saw your post the other day and i agree. I presume it is working well? A trade where you get stopped for +1 only to see it go in the original direction is little better than a losing trade... ok so you didn't lose, but on the next trade, you might... psychologically, it's tiring too.

I tend to be active regarding stoploss depending on PA (candle action) as it prints, but was already thinking of adopting something similar to your settings, for the open, however, trading later requires yet another approach again... There are many more retests later on and i'm finding grabbing 8/10 first and then aiming to reload and hold for a bigger bite the second time is the way to go generally... if it runs without you, at least you added 8/10... a damn sight better than a BE!

Turnip, thanks buddy, missus walked away a while ago, just trying to find my feet again as it were...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,149
  • Jul 12, 2017 4:42am Jul 12, 2017 4:42am
Lurking in background
  • #1,150
  • Jul 12, 2017 5:52am Jul 12, 2017 5:52am
Quoting The Cableguy
{quote} I saw your post the other day and i agree. I presume it is working well? A trade where you get stopped for +1 only to see it go in the original direction is little better than a losing trade... ok so you didn't lose, but on the next trade, you might... psychologically, it's tiring too. I tend to be active regarding stoploss depending on PA (candle action) as it prints, but was already thinking of adopting something similar to your settings, for the open, however, trading later requires yet another approach again... There are many more retests...
i think trading in the zone recommends trading 2 contracts and taking +6 on the first contract and then holding the other for tp as an experiment .. can't remember will read up on it
Become the casino
  • #1,151
  • Jul 12, 2017 5:54am Jul 12, 2017 5:54am
above extremes .. going back into june for levels:

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Become the casino
  • #1,152
  • Jul 12, 2017 6:03am Jul 12, 2017 6:03am
What's yesterday extreme high
  • #1,153
  • Jul 12, 2017 6:06am Jul 12, 2017 6:06am
Quoting Divergence
What's yesterday extreme high
5724.25 .. we might close the gap back to it
Become the casino
  • #1,154
  • Jul 12, 2017 6:06am Jul 12, 2017 6:06am
at same time it could go on up
Become the casino
  • #1,155
  • Jul 12, 2017 6:15am Jul 12, 2017 6:15am
Yelled testimony released
  • #1,156
  • Jul 12, 2017 6:23am Jul 12, 2017 6:23am
Quoting Divergence
Yelled testimony released
yes that's what's driving it
Become the casino
  • #1,157
  • Jul 12, 2017 6:24am Jul 12, 2017 6:24am
this level dates back to 26th jun(the mkt remembers lol)

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Become the casino
  • #1,158
  • Edited 7:05am Jul 12, 2017 6:42am | Edited 7:05am
Quoting erasmus66
{quote} i think trading in the zone recommends trading 2 contracts and taking +6 on the first contract and then holding the other for tp as an experiment .. can't remember will read up on it

Personally, i think it is going to depend on what is printing at the time. I'm looking for a specific kind of trending action that occurs frequently, later in the session. It is where PA will often retrace close to last LH (short) or last HL (long) thus deep pullbacks and target is a fresh peak or trough for trend continuance... my stoploss now becomes a tick above the last level and often only 5 ticks.

They are frequent within abc corrective moves;

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Each down move is 10/12 ticks, so it is grabbing, but with around a 5 tick risk, this is an easy play...

Of course, we do not need to even bother with this if you happen to catch one of the cycles with main trend, as it happens i took +20 from the return to the Long side, as it broke out of the channel and above V high, but there was also an EW wave count behind that trade too...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,159
  • Jul 12, 2017 6:47am Jul 12, 2017 6:47am
Incidentally, my profile lines today;

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GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #1,160
  • Edited 7:32am Jul 12, 2017 7:22am | Edited 7:32am
Frustrating- ordered a power cord from Amazon and the wrong one came so maybe that's a sign to take a break . I'm going to order another one. Away for 2 weeks from home. I have my work laptop, but can't install SC on it and I brought my personal computer for trading, but no cord.

The profile, these levels, price action, pull-backs are great! I think for me personally it all comes down to money management. We all can trade the same level buying at the same price and I can walk away -5 and you could walk away +20. I know for me and my risk tolerance/psychological factors, I was doing the following last week and was more pleased even with small rewards because I was getting a free trade as fast as possible and walking away in the positive.

BE-5 at +6
BE+8 at +9
trailing SL of +2 at +10

Edit: Also, last week I started using more limit orders at the actual level price instead of market orders at the close of a candle. This seemed to be more effective grabbing extra profit getting in at lower risk areas. Less slippage and better SL.

Yes, i will not walk away with big profits, but if I take the right entries, I quickly move the SL to -5 and then grab a profit of +8 or more. If momentum is fast and buyers/sellers are pushing price hard, I can get +10 or +12 or more depending on how price moves before it stalls. For my psyche, this was working well taking quick grabs. Problem is that I'll miss out on those +20 and +40 moves. Also, taking small profits of +8 is usually possible even on counter trend trades so if price hits a level in an uptrend and I short it, hopefully I could pull a quick +8 before it continues the uptrend.

Maybe I'll modify it more to have 2 sets of money management: one set for counter trend which grabs smaller profits and another set of rules for trend trades which looks for larger profit grabs.
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