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Plan the Trade

  • #6,341
  • May 31, 2018 10:52am May 31, 2018 10:52am
Today I made every mistake in the book ... was a bit jittery or something ... decided to call it quits at -13 ... I could have ended at break even with my last trade but was not patient and closed it premature ... eish ... try learn and grow ...

I tend to close the trades early if it goes past the rejection bar and comes back but it is not always a good idea.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NQM8 133 Trades #1 2018-05-31 11_33_28.738.png Size: 40 KB
Click to Enlarge Name: NQM8 133 Trades #1 2018-05-31 11_33_45.853.png Size: 46 KB
Click to Enlarge Name: NQM8 133 Trades #1 2018-05-31 11_34_27.978.png Size: 34 KB
Click to Enlarge Name: NQM8 133 Trades #1 2018-05-31 11_34_56.025.png Size: 38 KB
Never give up !!!
  • #6,342
  • May 31, 2018 10:55am May 31, 2018 10:55am
Quoting Divergence
When I got in the hole yesterday I started grabbing 12 or 10 s to get near even along with the hosts of +1s everyday is different
That is what I tried today but it did not work so well ... it could also have been worse, I suppose
Never give up !!!
  • #6,343
  • May 31, 2018 10:56am May 31, 2018 10:56am
Quoting theunis
Today I made every mistake in the book ... was a bit jittery or something ... decided to call it quits at -13 ... I could have ended at break even with my last trade but was not patient and closed it premature ... eish ... try learn and grow ... I tend to close the trades early if it goes past the rejection bar and comes back but it is not always a good idea. {image} {image} {image} {image}
Try this set stop to be +1 when up 5 and move to +10 when up 15 this wy you keep hands off of trade
  • #6,344
  • May 31, 2018 10:59am May 31, 2018 10:59am
Quoting onejester
I bit the bullet last week and opened an amp account. I was on my 3rd set of trials and my paid trial for Sierra was coming to an end. I have everything set up just how I want it and it is just $5 per month for the NQ data. I'm just going for a consistent 20 a day, after a month I'll go live. Had some good days, but my challenge is getting sucked into these bloody ranges.
An amp account? ... what is that?
Never give up !!!
  • #6,345
  • May 31, 2018 11:07am May 31, 2018 11:07am
Amp is a futures broker
  • #6,346
  • May 31, 2018 11:31am May 31, 2018 11:31am
Quoting theunis
{quote} An amp account? ... what is that?
Futures broker

Deposit $500
Sierrachart becomes free
Nq data $5 per month

When you are ready to go live, just switch sierrachart out of sim and you are on your way
'in less than half an hour he made over 100 ticks'
  • #6,347
  • May 31, 2018 3:03pm May 31, 2018 3:03pm
Quoting FX-Flux
{quote} Google “burner email address” you can generate as many temporary email addresses as you like and get as many free trials as you like
Thanks for the idea but ... eish ... not sure ... feels like cheating.
I think I am rather going to open an demo account with Amp so I can test and see if it works the same, get more practice and checking another broker out at the same time.
Never give up !!!
  • #6,348
  • May 31, 2018 3:06pm May 31, 2018 3:06pm
Quoting onejester
{quote} Futures broker Deposit $500 Sierrachart becomes free Nq data $5 per month When you are ready to go live, just switch sierrachart out of sim and you are on your way
Thanks !
Never give up !!!
  • #6,349
  • May 31, 2018 3:35pm May 31, 2018 3:35pm
Quoting Divergence
{quote} Try this set stop to be +1 when up 5 and move to +10 when up 15 this wy you keep hands off of trade
Thanks ... will try it ...
Never give up !!!
  • #6,350
  • Jun 1, 2018 2:36am Jun 1, 2018 2:36am
Quoting Divergence
{quote} Try this set stop to be +1 when up 5 and move to +10 when up 15 this wy you keep hands off of trade
What about getting out of a bad trade? Move TP to +1 when down 5?
So many in the Commercial section want to make me rich! :o
  • #6,351
  • Edited 5:11am Jun 1, 2018 3:01am | Edited 5:11am
Quoting FX-Flux
{quote} What about getting out of a bad trade? Move TP to +1 when down 5?
I have seen Mr D sometimes move the SL and TP manually when the 12 SL was not taken out and the prices moves back to entry ... in general I think it might just be best to leave the trade alone ... for me at this stage any way ... fiddling causes me lots of missed 10s and 20s .... I am currently testing SL 5; TP 20; Trailing TP 10 when price reaches 15 and then a Trailing TP of 1 if the price reaches 5 ... that will cause a risk/reward ratio of 1:2 with 10 (which happen often) and 1:4 with 20 (which happens less) ... will see ... however, over a series of trades this puts the odds in your favor big time ...

ps. I think the 5 fixed SL is a bit tight though ... are getting loads of stopouts ... it seems giving it a bit of room to breath works better.
Never give up !!!
  • #6,352
  • Jun 1, 2018 3:39am Jun 1, 2018 3:39am
I reflected a bit last night about the good and then bad days I have had the last week or two ... trying to identify what makes the difference ... in general the days I made a nett profit I was focused and relaxed and mentally prepared and had time ... I was patient and only waited for good rejection then thrust bar combos ... in my nett loss days I was exactly opposite ... not focused, in a rush because I had something on my mind, impatient etc etc ...

All in all I have learned a lot about the finer nuances of price action that I knew and saw before but somehow didn't really really KNOW AND SEE ... sounds weird but it is true.
The practice I now get in price action has opened up a new world for me with regards to my higher time trading as well.

So I want to thank all of you and especially Mr D for sharing here ... it is much MUCH appreciated.

"I will persist until I succeed ..." — Og Mandino (from the book "The greatest salesman in the world")
Never give up !!!
  • #6,353
  • Jun 1, 2018 4:50am Jun 1, 2018 4:50am
Quoting onejester
{quote} Futures broker Deposit $500 Sierrachart becomes free Nq data $5 per month When you are ready to go live, just switch sierrachart out of sim and you are on your way
My Infinity demo is kaput ... I set up a demo with Amp and are testing it now ... the 133 tick chart looks a bit different but not too bad ... their tick values are weird however (full 1 instead of 0.25 like Infinity) and because of that the setup of the Trade Window to Chart (TP and SL's) does not work out so well ... did you find the same thing or am I missing something?
Never give up !!!
  • #6,354
  • Jun 1, 2018 7:13am Jun 1, 2018 7:13am
Quoting theunis
{quote} My Infinity demo is kaput ... I set up a demo with Amp and are testing it now ... the 133 tick chart looks a bit different but not too bad ... their tick values are weird however (full 1 instead of 0.25 like Infinity) and because of that the setup of the Trade Window to Chart (TP and SL's) does not work out so well ... did you find the same thing or am I missing something?
It should be 0.25 with AMP also
  • #6,355
  • Jun 1, 2018 7:56am Jun 1, 2018 7:56am
Quoting bapakjason
{quote} It should be 0.25 with AMP also
Perhaps I have a setting off or something .... but I cannot find it ... no matter ... at least now I have charts to practice on until I can open an account later.
Never give up !!!
  • #6,356
  • Jun 1, 2018 8:15am Jun 1, 2018 8:15am
make sure its emini nq enqm18
  • #6,357
  • Edited 9:14am Jun 1, 2018 8:35am | Edited 9:14am
Quoting Divergence
make sure its emini nq enqm18
Nope ... found the enqm18 but no datafeed with the demo ... will look for something else in the meantime ... at least I can practice on the 133 tick charts !
Never give up !!!
  • #6,358
  • Jun 1, 2018 8:51am Jun 1, 2018 8:51am
1 +10 and a bunch of +1s
  • #6,359
  • Jun 1, 2018 8:58am Jun 1, 2018 8:58am
Same here. +10 on the 1st trade, flattened the 2nd for +1 when looked like going the wrong way.
Attached Image
  • #6,360
  • Jun 1, 2018 8:59am Jun 1, 2018 8:59am
Though this was a sure winner with bearish thrust bar but alas +1
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