Learning to Dance, The Journey!!

Learning to dance with the price. Personal Journal.

I've got a lot of scorpion to get rid of. Still very poor at attack.
Still rigid and still beat myself up, still very emotional, jumpy and itchy fingers.

Still seeking the light BUT... I'm 10x better than I was when I first started reading FTI thread ( 6 weeks now), it helped to glue other little things I knew together, (At least that's what I thought).

Nothing to learn here really, go to the source and learn it and few other solid journals to catch up on.

Today, you can see the jumpiness.

This week... Learning to target 20% every month, might be some fairytale but it's good to have something to target.
This week 9.8%.

May 1st to 31st. Last month, around 23%.

NOW the goal is to be able to do something like this in the future, to learn to dance better, to develop that killer instinct.

Dongsky...

Copied from Franco :

Market Dynamics.


Break Traders – BLUE
These traders (Heroes/Desperados) bought the breakout.
They are just praying that other traders come along
and buy higher than they did. (the "greater fool theory" )

Novice Traders – GREEN
These traders just have no idea of what they are doing.
There are buying
what the breakout traders are now selling to them.

Momentum Traders – JELLOW
These traders are buying the PB near the MA.
They are likely going to put their stop below the hammer.

Swing Traders – RED
This is where we come in.
Pullback's Analysis.
Most of the novice and momentum traders have sold.


Novice+Breakout Traders
these traders are buying at the worst possible time.

EU:

Thought I've got a good read and I could dance with her, but all of a sudden I notice I might be dancing with her with two left feet.
Got total disoriented, so I let her be.

UJ was easier to dance with but just got fed up with her very slow movement.
I usually don't trade U/J, was just very good set up. I had to bite a little.

GU, good enough set up to dance with, was waiting for some retrace to add on but it didn't retrace quite deep enough for me to add on.
I squared all and left the battle-station.

I cam back, and took another shot... Last entry on GU, I wanted to do some more dance, but I thought, I might not have the energy for another battle if it present itself, so close it out.

All for today.

Ps: Still not good with attacking sequence.

EU dance on the way.

Reduced risk, only 1 trade in now. Possible bull run, we will see.

Current chart, looks like head and shoulder formation... Will look for possible add on.

Squared , shame I couldn't add on ( my limitation ) , didn't see enough pull back.

I'll look for another battle , 1 more and call it a day.

Hi SolidSnake-

I like to use the momentum bars to add, a full bar or one that engulf at least the last bar.

I have marked them on your chart

Regards

Phil.

Possible add on area for EU right now, I won't though, red news soon. I'll look for trade after news.


Thanks Phil, never cross my mind, I'll add that to my tools.

GU long...

Nice bounce...
Squared. No strength/ energy to perform attack sequence.
All for today, until tomorrow.

Chart copied from Phil.


Would be a good reminder when I get lost sometimes, I mean most times


Note to moi- Don't forget, don't be rigid, be nimble.

Fighting with my scorpion (greed) right now, after reading only 3 pages on priceaction journal.

FTI ;

Ok risk.
try understand this.
High risk means low propability of realisation.
Same as , risk buy 4D.
what is probability of hiting it correct.
ok which one is higher risk 4 digit guess or 7 digit guess.
which has better probability of striking.
The one with higher risk is the one less likely strike.
so on high risk punts, cannot put big pot. get it?
risk has nothing do with capital. understand?
Think .. in the money , at the money and out of the money(court).

risk is percieved terrain type.
ok i try give yo an analogy.
Which is better weapon? A hand gun or a high power rifle?
Which ever you chose will be wrong thinking.
You see.
It depends on the terrain type.
In urban close quarters battles. Is carzy use a rifle.
It is a open ground weapon.
In open ground is crazy use a hand gum.
So why you think when a soldier goes to battle. The officers carry both?
Depending on terrain of combat, there is CHOICE.
Now think marketbattle fields.
A trader need have same agility.
Rigidity to no choices will disadvantage a trader.
Thats why a trader need reki the markets find out what is perceived terrain.
When implimenting strategies, must be able adjust seemlessly to changing perceptions. As the terrain info comes on stream , one needs adjust the logistics suit the terrain one battles in.
What you asking about the skew of the mm, can create for you unmanagable turns, if you have rigid mindset.
Generally is a guide only. Is same as if you ask girls what their favoraite colour,is likely be peach or pink. Blue has high risk of being worthless. Is only guide, but once in some blue moon , you may chance on a girl who likes blue. Do you understand?
Is same as i tell you yes there is a mean general skew for safe mm. But then if you stay only at mean, and you are taken to high level skews. either YOU or your capital may give(collapse). Do you understand? So your job is to find book tolerance and YOU tolerance for effective performance. Ya , i can tell youthat 1:3:10 is good attack skew. Anything that has 1:3 odds is a term sure winner odds. But if you implimented attck skew against trend then you not going to survive.
Think about it and test yourself out.

regards
You heard the euro banks are having their stress test. Yes?
they testing the risk their books exposed to under different terrains. This determines if their risttaking is robust or not.
They trying to figure out what their risk of ruin vis a vis their var(value at risk)/risk profile under simulated extremes. Get it?
if i test most of your risk profiles, about 90% of you likely fail. mostly too ambitious (GREEDY). 1:3:10 is good attack Mo, but for me is too mild. In markets when injured must be humble. When on wind must be brave, very very brave. Otherwise why waste time and energies, without killer instincts.
Think.

Your ability implement attacks depends on state of ----. get it?