Disliked{quote} That's the idea of not cherry picking entries. If you enter on every expectation you will end up in the same place...so if your structure analysis is wrong it would be just a small setback in terms of trading efficiency and not a dent in your PnL.Ignored
Ratios & Harmonics: a Different Way to Trade
- #37,803
- Edited 11:20am Mar 2, 2018 11:05am | Edited 11:20am
- | Joined Dec 2017 | Status: Trader | 1,054 Posts
- #37,806
- Mar 2, 2018 11:29am Mar 2, 2018 11:29am
Soundly beat today. Tucking tail and will demo trade for an extended period. -103 for day.
Trade 1: Expectation of NSL. Price broke past 100% retracement to stop me out. No biggie. Change of expectation to upside. Stopped for -34.
Trade 2: Didn't make it to 127 trailed below the retracement from 1:1. Stopped out for +39.
Trade 3: Slow descent to golden zone where I entered. Started ranging and touched down to 100% retracement. Started to see some stronger candles going against me so I started tightening up near entry. Price eventually reached a NSH later on after the next trade. Taken out at -11.
Trade 4: Some bad decisions here. After the 100% retracement on last trade and feeling that price was ranging, I took a trade to the downside. Looking back there were no NSLs to base this on so a range trade gone bad. Stopped at -24.
Trade 5: The market made a NSH and this was retracement to just below golden zone. Made some effort to go up but eventually stopped. Tried to give it plenty of room but it wouldn't have mattered as it eventually went to NSL. -35.
Trade 6: After the most recent NSL entered at structure just above golden zone for a move down as the expectation was a NSL. Price kept going. -41
Had a hard time finding rhyme or reason to market today. I'll keep working at it.
Hope your day was better than mine!
I'm clearly missing something here. Onward and upward!
Trade 1: Expectation of NSL. Price broke past 100% retracement to stop me out. No biggie. Change of expectation to upside. Stopped for -34.
Trade 2: Didn't make it to 127 trailed below the retracement from 1:1. Stopped out for +39.
Trade 3: Slow descent to golden zone where I entered. Started ranging and touched down to 100% retracement. Started to see some stronger candles going against me so I started tightening up near entry. Price eventually reached a NSH later on after the next trade. Taken out at -11.
Trade 4: Some bad decisions here. After the 100% retracement on last trade and feeling that price was ranging, I took a trade to the downside. Looking back there were no NSLs to base this on so a range trade gone bad. Stopped at -24.
Trade 5: The market made a NSH and this was retracement to just below golden zone. Made some effort to go up but eventually stopped. Tried to give it plenty of room but it wouldn't have mattered as it eventually went to NSL. -35.
Trade 6: After the most recent NSL entered at structure just above golden zone for a move down as the expectation was a NSL. Price kept going. -41
Had a hard time finding rhyme or reason to market today. I'll keep working at it.
Hope your day was better than mine!
I'm clearly missing something here. Onward and upward!
- #37,807
- Mar 2, 2018 1:06pm Mar 2, 2018 1:06pm
Here are my first trades of the day, 1 winner, q loser and one BE (this would have hit TP but just took me out at BE after moving at structure.
FYI - I have just started using NT to place trades on a demo account so just sorting out the settings so I know what I am doing!!
FYI - I have just started using NT to place trades on a demo account so just sorting out the settings so I know what I am doing!!
- #37,810
- Mar 2, 2018 2:20pm Mar 2, 2018 2:20pm
- | Joined Dec 2017 | Status: Trader | 1,054 Posts
Here are my first trades of the day, 1 winner, q loser and one BE (this would have hit TP but just took me out at BE after moving at structure. FYI - I have just started using NT to place trades on a demo account so just sorting out the settings so I know what I am doing!!
- #37,811
- Mar 2, 2018 3:24pm Mar 2, 2018 3:24pm
- | Joined Nov 2016 | Status: Trader | 1,121 Posts
Finished the YM week with a total of -79 points
Yesterday I had a terrible breakdown and lost a lot of points.
It was only because i was not disciplined enough.
I was hunting for reversals and large moves, put my SL in the wrong place... terrible..
Today I was more disciplined. Got some points back.
Still not disciplined enough. I need to take less trades. Taking too many entries.
Great experiences this week.
Although at a loss at the moment, I have a good feeling about it.
I see a lot of you guys had good results.
Congrats and have a nice weekend
Yesterday I had a terrible breakdown and lost a lot of points.
It was only because i was not disciplined enough.
I was hunting for reversals and large moves, put my SL in the wrong place... terrible..
Today I was more disciplined. Got some points back.
Still not disciplined enough. I need to take less trades. Taking too many entries.
Great experiences this week.
Although at a loss at the moment, I have a good feeling about it.
I see a lot of you guys had good results.
Congrats and have a nice weekend
- #37,812
- Mar 2, 2018 3:25pm Mar 2, 2018 3:25pm
{quote} First config thing I would change, right click chart, data series, scroll to the bottom, plot execution, set to markers only. That'll rid you of all the text for your buy/sell prices but leave the arrows.
- #37,814
- Mar 2, 2018 4:03pm Mar 2, 2018 4:03pm
- | Joined Nov 2016 | Status: Trader | 1,121 Posts
{quote} I noticed this on your first chart from live YM trading (think it was your first). Think you made 20+ trades (to many IMO) and noticed some of the last trades of the day you were searching for reversals on a fast moving sellers market. Trying to catch a falling knife as Mr Pip may say. Don't worry, I am having the same issues, had a bad day yesterday, trading too much and lost a bit. Didn't really trade today as was playing around with the NT platform. I have a busy weekend planned, back testing, honing my skills, reading back on some of...
Trying to find the exact point where the correction of a large swing occurred (using structure/fib exhaustion..)
But my stop was very small (behind the structure I was using, while of course it had to be below/above the main swing.
Stupid. Just stupid.
Don't know why I do that sometimes.
Have to work on discipline.
And I'm taking many entries yes. Also has something to do with protecting quickly and re-entering trades.
Gonna look into it and see if it can be improved.
Good luck with your trading and nice weekend!
- #37,817
- Mar 3, 2018 7:19am Mar 3, 2018 7:19am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
Hello,
as I follow this thread, I am getting more and more interested in the Dow: moving big and fast and cheap spread (lower than EU!!) with one of my broker. Also falling in love more and more with tick charts: so much clearer than time charts.
However, I am still on MT4 and as I was looking around and with another broker I was doing demo with I found something strange:
you see how it seems there is a maximum number of ticks per minute/5 min when looking at the volume? these are the 1 min and 5 min charts with volume added.
Although I know CFD brokers don't give all ticks, I was surprise how define the maximum seems to be (at least with that broker).
Could someone upload a screenshot of the same 1min/5min with volume for the futures so I can compare as, while I don't mind much if the number of ticks is not exactly the same, at least I 'd like the profiles to be similar. Because if they give only 1 tick every 2 "real" ticks throughout the day, not a big deal, but if it is sometimes 1 every 2, sometimes 1 every 5 sometimes 1 every 10, that is an issue and I ll have to reconsider some aspects of my strategy.
as I follow this thread, I am getting more and more interested in the Dow: moving big and fast and cheap spread (lower than EU!!) with one of my broker. Also falling in love more and more with tick charts: so much clearer than time charts.
However, I am still on MT4 and as I was looking around and with another broker I was doing demo with I found something strange:
you see how it seems there is a maximum number of ticks per minute/5 min when looking at the volume? these are the 1 min and 5 min charts with volume added.
Although I know CFD brokers don't give all ticks, I was surprise how define the maximum seems to be (at least with that broker).
Could someone upload a screenshot of the same 1min/5min with volume for the futures so I can compare as, while I don't mind much if the number of ticks is not exactly the same, at least I 'd like the profiles to be similar. Because if they give only 1 tick every 2 "real" ticks throughout the day, not a big deal, but if it is sometimes 1 every 2, sometimes 1 every 5 sometimes 1 every 10, that is an issue and I ll have to reconsider some aspects of my strategy.