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Journey to consistency

  • #361
  • Jan 17, 2018 2:29am Jan 17, 2018 2:29am
Quoting Jupiter
Market is talking. You have to stop to think and try just to follow. {image}
appreciate your feedback!!
now that you're talking "green line is the now", "horizontal level is respected", "you can't have a bearish bias"
I overanalyzed and I admit I was wrong

as you can see I like to come up with excuses,
I put the blame on 2m for not giving me a better view
lol I see now you saw the same picture on 2m
so it's clearly not the TF
but me,

do you do multi - time frame Jupiter ?
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  • #362
  • Jan 17, 2018 2:37am Jan 17, 2018 2:37am


Question is how to build a correct mindset.
Clear rules as "Mental Road Map."
(Always remembering that:
- you can be wrong
- market can always changes her ideas)

So... if you put a Trend Indicator on your chart (3MA system are perfect!) try not to go against it! It's self-destructive. (M. Schwartz)
It's so simple... but I perfectly know that it is not easy. It's a constant struggle against your "drunken monkey" mind!

(Would you mind to tell me your MA setting?)
  • #363
  • Jan 17, 2018 2:39am Jan 17, 2018 2:39am
Quoting Piquant
{quote} do multi - time frame Jupiter ?
That's a long, long story...
I'd need a thread "ad hoc" to answer you.
  • #364
  • Jan 17, 2018 3:04am Jan 17, 2018 3:04am
Quoting Jupiter
Question is how to build a correct mindset. Clear rules as "Mental Road Map."
how can you have clear rules or "mental road map" when you're trying to "follow her lead" ? because like you said she can change her mind as she pleases to !
what do you mean by "clear rules" ?
and how do you define it ?
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  • #365
  • Jan 17, 2018 3:07am Jan 17, 2018 3:07am
Quoting Jupiter
(Would you mind to tell me your MA setting?)
20ema
100sma
200ema

I still don't think I use them the right way, but they do give me some structure otherwise I would feel as though I'm blindfolded.
don't think if this goes above that you buy or sell kind of MA works here, because if DAX wants to go up it will do so regardless or not if 200ema is hovering right above it, what it matters is I think the structure of price and how its interacting with MAs.
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  • #366
  • Jan 17, 2018 3:09am Jan 17, 2018 3:09am
Quoting Jupiter
{quote} That's a long, long story... I'd need a thread "ad hoc" to answer you.
I wouldn't mind another journal or thread
I need all the learning I can get.
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  • #367
  • Jan 17, 2018 3:14am Jan 17, 2018 3:14am
Quoting Piquant
{quote} how can you have clear rules or "mental road map" when you're trying to "follow her lead" ? because like you said she can change her mind as she pleases to ! what do you mean by "clear rules" ? and how do you define it ?
LOL... I wrote so many posts, my dear friend.
Are you inviting me to write a book?

Now, in this now... I'm longing DAX again! Why?
I have to... my rules oblige me. And I, humble servant of the Hi-Lo, I obey. Full Stop.
  • #368
  • Jan 17, 2018 3:21am Jan 17, 2018 3:21am
Quoting Piquant
{quote} I still don't think I use them the right way...
Try some experiments with the most used set of MA: 9 - 20 - 50 - 200
Please... tell me me if you see some benefits of not.
  • #369
  • Jan 17, 2018 3:39am Jan 17, 2018 3:39am
Quoting Jupiter
{quote} Try some experiments with the most used set of MA: 9 - 20 - 50 - 200 Please... tell me me if you see some benefits of not.
50,9 ema ?
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  • #370
  • Jan 17, 2018 3:52am Jan 17, 2018 3:52am
Quoting Piquant
{quote} 50,9 ema ? {image}
You are right, sorry. My fault.

ema9
ema20
sma50
sma200

Try to "elaborate" what a "MA TEST" could be....
What is a MACD?
How can I see the same thing on my chart without that indicator?
Study and suffer. LOL
Accept the pain of learning.
  • #371
  • Jan 17, 2018 4:03am Jan 17, 2018 4:03am
Quoting Jupiter
{quote} LOL... I'm longing DAX again! .
  • #372
  • Jan 17, 2018 4:04am Jan 17, 2018 4:04am
last trade of the day
-0.4% from -2%
I might have gotten out a lot earlier (this is another major obstacle)
but happy to have recovered from a major DD
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  • #373
  • Jan 17, 2018 4:07am Jan 17, 2018 4:07am
Quoting Jupiter
{quote} LOL Accept the pain of learning.
I've suffered enough (I think)
trust me
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  • #374
  • Jan 17, 2018 4:14am Jan 17, 2018 4:14am
Quoting Piquant
{quote} I've suffered enough (I think) trust me
You are not alone mate.
on a postive roll...
  • #375
  • Jan 17, 2018 6:56am Jan 17, 2018 6:56am
...and I hope that you enjoyed the shorts as well!!!
Highs and Lows... and obey!
Peaks and Troughs... and obey!

Don't fight the tape. LET the trend be your friend. (Do you get the verb "LET" in the sentence?)
No expectations.
Follow. Try to follow. Find YOUR WAY to follow.

They are not stupid "truisms". They are not obvious, self-evident rethoric.
It's technique! It's Modus Operandi.
It's Dow, Livermore, Gann, Elliott, Wyckoff up to Bill Williams.
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  • #376
  • Edited 9:35pm Jan 17, 2018 9:02pm | Edited 9:35pm
OK. I begin to exaggerate. But I offer this one to your discussion.
This is my yesterday's entry on the LONG SIDE again. DAX m5.

This chart sounds like the proper conclusion of my reasoning about "FIND YOUR WAY TO FOLLOW!"
This is my way. MY in capital letters.
Someone could perfectly be "perplexed" and "puzzled".
Sure. As a matter of fact, my demonstration implies an agreement on:
- Survey of Support and Resistance on the battlefield (and their function)
- Trend definition (DAILY TREND yesterday was Up...!!!)
- Time frame determination ("Now" and Higher TF Reference)
- Correct use of Stop Losses
- Use of Profits as investement (Sun Tzu "spy") to take advantage of the opportunity
- Wise use of scouts (Livermore's "Probing Method")
- Correct definition of "Pyramiding" (as attack) and proper "Defense" from enemy response.
- Risk propensity or adversion. (What kind of trader are you?)

That's all. Study. With all your passion. That is the answer.
Knowledge is power. Time spent in study is money already in the Bank.
And practice.
Study and Practice for a few years.

Now back to my cave.
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  • #377
  • Jan 17, 2018 11:20pm Jan 17, 2018 11:20pm
Quoting Jupiter
Now back to my cave. {image}
Appreciate your input Jupiter !
I hope to see you around in one of your hangouts sometime (interactive thread)
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  • #378
  • Jan 18, 2018 12:08am Jan 18, 2018 12:08am
by 16:00 (London open) I'm not getting any valid signal on 15m, judging by the PA I think I will stay put for 1.5 hours and see what happens on 15m and 2m.
1 long, 1short both losers -18$
1 long a winner +14$ but it was short-lived.
the upside was limited

I'm thinking if I should just pass on London open if 15m PA looks uncertain still.
If the PA on 15m looks good to go by 16:00 I go and look for corresponding signal on 2m.
If not then I come back for the next slot 17:30 and the next 20:30, 22:15.

I think that will save me "sore losers" and not mess up my stats.
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  • #379
  • Jan 18, 2018 12:27am Jan 18, 2018 12:27am
Turns out market was headed for a down move at least around London open.
I shouldn't open any trade prior London open.
Like I have been but lately I broke that rule.
Because when London rolls around you never know what will happen.
Change of direction that of from Frankfurt is pretty common.
And most important thing is that I get to look at 16:00 candle on 15m, and gauge the directional bias.
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  • #380
  • Jan 18, 2018 1:48am Jan 18, 2018 1:48am
2 trades taken at 17:00 slot

1 good trade (I was feeling + about this)
1 bad trade (PA on 10m was uncertain, so was on 1m) but I took it anyways and had to give away some of the profit made from the good trade

I'm not seeing anything tradeable on 10m, 1h is looking bearish but again anything can happen

will be back at 20:00 slot
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