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Plan the Trade

  • #6,161
  • May 10, 2018 11:16am May 10, 2018 11:16am
Quoting Divergence
{quote} sometimes you just have to nickel and dime it

If i had been in the frame of mind to just grab today, i could have cleaned up... so many +8's/10's that i've let slip...

Still, i've managed to make a reasonable total albeit with many comms to allow for;

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GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #6,162
  • Edited 4:01pm May 10, 2018 3:17pm | Edited 4:01pm
Learned a valuable lesson today ... I could only trade for about 20minutes after NY open before I had to go to a meeting ... I was tense and .... totally blotched it up ... -37 ticks within the blink of an eye ... lesson = DO NOT TRADE WHEN YOU ARE TENSE AND DO NOT TRY TO FORCE THINGS ... it just does not work ... I took some really nook and cranny trades ... ai ja jaai.

I am still getting used to SierraCharts but also want to post my charts to make my learning curve better !!!
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Never give up !!!
  • #6,163
  • May 10, 2018 10:32pm May 10, 2018 10:32pm
Ended up being a decent bullish run during the first few hours . .
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  • #6,164
  • May 11, 2018 9:12am May 11, 2018 9:12am
Tough going, managed to claw back a loss, gonna call it a day.
Don't see any reason not to take the 1st trade I made? even though it was a loss
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  • #6,165
  • May 11, 2018 9:15am May 11, 2018 9:15am
Just spotted this after I stopped.
H would you have seen this as a 123 at the bottom reversing the trend and thus invalidating the short?
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  • #6,166
  • May 11, 2018 9:27am May 11, 2018 9:27am
Probably missed loads, but today has become boring. So I'm quitting while ahead with no losses

+18

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'in less than half an hour he made over 100 ticks'
  • #6,167
  • May 11, 2018 9:31am May 11, 2018 9:31am
Indeed.. gone rangey near yesterday's high
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  • #6,168
  • May 11, 2018 9:46am May 11, 2018 9:46am
-27
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  • #6,169
  • May 11, 2018 10:16am May 11, 2018 10:16am
yes tough going .. just got back to 0 for the day:

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Become the casino
  • #6,170
  • May 11, 2018 10:18am May 11, 2018 10:18am
For about the third or forth time this week , i find myself clawing back initial silly mistakes. It's definitely gone all to hell this week, (although i've still ended each session in the positive;

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This is a little bit of EW helping out with my overall thoughts and targets;

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I seem to have gone into a defiant mood... kind of taking trades in a huff, just to let the market prove me wrong. I'm right and the market is wrong type stuff... silly really, and i'm almost surprised at myself.

Is it over-confidence? is it the pain killers?) something has changed in my mentality this week. Not good.

Currently -2 with a load of comms.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #6,171
  • May 11, 2018 10:19am May 11, 2018 10:19am
Quoting goose11
Just spotted this after I stopped. H would you have seen this as a 123 at the bottom reversing the trend and thus invalidating the short? {image}
great trading goose well done
Become the casino
  • #6,172
  • May 11, 2018 10:30am May 11, 2018 10:30am
Delighted with my results yesterday +40 ish and +30 today, found today particularly tricky and was aggressive moving my stop loss up after the initial loss to mitigate risk. Rinse and repeat (hopefully!). Definitely sniper mentality needed in this game!

Clean slate next week CG.
  • #6,173
  • May 11, 2018 10:38am May 11, 2018 10:38am
Accidentally opened Sierra and saw this trade, just wanted to post as an eg of a nice setup (imo).
Price made a lower low and pulled back to a thrust bar, placing a limit order here will also have the SL above the selling at X so makes me feel more secure.
I'm starting to leave trades where there are several defined steps to the left (pretty sure CG has talked about this).
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  • #6,174
  • May 11, 2018 11:19am May 11, 2018 11:19am
I'm sure a major part of this isn't just about the setups. It is about preparing mentally for that hour and focussing everything you have, win or lose on the day and having the discipline to just walk away.

Add it up at the end of the month and ask, am I really good enough yet?

I've messed around looking at different charts and timeframes etc. and when it comes to the afternoon, I'm just not as sharp. Maybe I should sleep in just before the open and then get up and 'hit it'.
'in less than half an hour he made over 100 ticks'
  • #6,175
  • May 11, 2018 11:23am May 11, 2018 11:23am
Quoting onejester
I'm sure a major part of this isn't just about the setups. It is about preparing mentally for that hour and focussing everything you have, win or lose on the day and having the discipline to just walk away. Add it up at the end of the month and ask, am I really good enough yet?
Exactly right...

The only thing is that it gets better with experience. Slowly but surely the mistakes become less and less given time... lot's of it. Look at the way H trades nowadays, virtually gets his target in 2 or 3 trades... we can all remember the videos from a year ago. He was absolutely brilliant back then, but i can still remember the odd loser - certainly more than those of today.

Time and experience.. keep at it, don't expect it all to come this week or next week... think in terms of months and years, as you become more 'polished'.
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #6,176
  • May 11, 2018 11:23am May 11, 2018 11:23am
Nice summary. Having the confidence and ability to spot & trade the setups in real time without emotion (too much anyway) is key.
Something we are all striving for (apart from H of course!)
  • #6,177
  • May 12, 2018 6:53pm May 12, 2018 6:53pm
had problems posting and finally fixed the problem here were my trades from yesterday
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  • #6,178
  • May 12, 2018 8:44pm May 12, 2018 8:44pm
Quoting Divergence
had problems posting and finally fixed the problem here were my trades from yesterday {image}
Its good stuff H. Was reading back through the thread yesterday and came across a post where you mentioned trading being a matter of confidence in a system. To backtest, easy with no indicators, then demo in replay, then demo live and when you see you are profitable go live. I was thinking about systems with instruments where you get 1 set up per day -how long it would take for confidence to come. Even 1 set up per hour would take a long time. But on nq, the opporunities for testing and building confidence are PLENTY.
  • #6,179
  • May 13, 2018 8:16pm May 13, 2018 8:16pm
Watched The Pit on netflix about trading coffee in NY and how hard those guys were hit when ICE bought it and the majority volume shifted to electronic trading outside the pit, eventually shutting down that pit . . . Wow, its a totally different personaility that stands in the exchange reading people's facial expressions than the one that sits in solitude in a home office . . .
  • #6,180
  • May 14, 2018 5:44am May 14, 2018 5:44am
Quoting bapakjason
Watched The Pit on netflix about trading coffee in NY and how hard those guys were hit when ICE bought it and the majority volume shifted to electronic trading outside the pit, eventually shutting down that pit . . . Wow, its a totally different personaility that stands in the exchange reading people's facial expressions than the one that sits in solitude in a home office . . .
you will also enjoy "Floored". it is available on YouTube. Also about pit traders. We have a few thousand on the line, they have literally a million or more, of their own cash on the line.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
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