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Plan the Trade

  • #7,021
  • Edited 10:57am Aug 7, 2018 10:22am | Edited 10:57am
Quoting onejester
{quote} Here is something I noticed yesterday. In my post 7000, I spotted what I will call a 'give up bar' It's by the entry I took and then chickened out of. But after this one I just noticed after I finished today, I won't be chickening out if I see another. I posted my wave count, because I kinda believe in it. But it is a bit voodoo and I never met anyone who could agree on how to count em {image} Lol, like a shite version of CG's charts

Wave 4 can not enter wave 1 territory OJ

it can be ABCDE with a crossover, but it does not have that look about it (imo) wave D (your 4) is too small in relation to wave B (your 2).

Waves usually have a nice almost symmetrical look to them, but it takes many years to become accustomed to them. I personally wouldn't recommend anyone to go down that road, (even though i'm well aware that i keep posting them!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,022
  • Aug 7, 2018 10:26am Aug 7, 2018 10:26am
Quoting The Cableguy
Thursday was a shite trading day for me, i went -30, back to 0 and ended up -32. Friday i went to +30 and ended up +16 and so was pretty dejected... now if i add todays figure on top of Mon/Tues/Wednesday gains, i would be up 200 odd ticks and yet i feel pretty down about it all... why is that?)
if you dont have a goal for the day you will never reach anything. for me making 500 a day is my goal some it may be 300 or 100 but have one otherwise there no self gratification you will always feel dejected and that my friend is the mindset of a gambler. i am not saying you are CG this is from personal experience when i was one 30 years ago. i went to the casino and made 3000 playing blackjack on the way home i felt dejected because i was at the 5 dollar table and if i was at the 10, 20 or 100 dollar table i would have made a ton more. Then i realized there was no perfect amount for which i would have been satisfied and i never gambled again,
  • #7,023
  • Aug 7, 2018 10:27am Aug 7, 2018 10:27am
Quoting The Cableguy
{quote}Do you think you would not be able to replicate the same results switching Live, if you had been trading like a machine for the previous 5 years?
Not at first, the emotions will mess with you, but overall I agree, you will have "muscle memory" and that will help to get you on track in live mode faster than someone who does not have the practice in sim mode. The time it takes will vary from person to person.
Never give up !!!
  • #7,024
  • Aug 7, 2018 10:34am Aug 7, 2018 10:34am
Quoting Divergence
{quote} if you dont have a goal for the day you will never reach anything. for me making 500 a day is my goal some it may be 300 or 100 but have one otherwise there no self gratification you will always feel dejected and that my friend is the mindset of a gambler. i am not saying you are CG this is from personal experience when i was one 30 years ago. i went to the casino and made 3000 playing blackjack on the way home i felt dejected because i was at the 5 dollar table and if i was at the 10, 20 or 100 dollar table i would have made a ton more....
I absolutely understand you, but i'm still struggling to leave my EW view behind (as you can see from above). In fact, i doubt i can erase it from my trading psyche and that means, on days when it trends like it did today, i will clean up and then on other days, it will be trickier... the art is tying in this view along with the S/D one

I don't think i could target say 30 ticks a day, because of this factor. I would not want to stop when i've dialed in on a wave count and i see a pinpoint perfect fib reaction as was the case today... equally, i don't think i'm ready for a 30 target whilst i might struggle to have enough success. If the PA simply isn't happening for me, i don't need the added pressure of a target when i might then start making a bad situation even worse...

If, i could trade as you do, then for sure... i totally agree) It's still what i aspire too and i think (or hope) that one day in the future, yes, i will have a target, but i'm not there yet...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,025
  • Aug 7, 2018 10:37am Aug 7, 2018 10:37am
when i first started trading i had no goal for many years just make as much as i can but when i decided to turn this into a business/job things changed for me financially
  • #7,026
  • Edited 11:06am Aug 7, 2018 10:47am | Edited 11:06am
Quoting theunis
{quote} I agree in principle but my main point is that even though you can trade top notch in sim mode, the emotions of live mode is going to mess with your ability to make decisions and thus affect your results. At some time you have to open a live account and start trading it with minimum lots or contracts to start handling the emotions. Then, as the results stabilize you push up the lots or contracts.
We are all in different places I guess. I have sold it to myself to now rate and rank everything I do, and only flick that switch when I know that I can tell myself 'well you did this for months m'fkr whats the difference'. In my head I have written off any money I put into this for the reason I just mentioned, it simply takes the pressure away and allows me to focus in the task at hand. Namely the charts.

No one is right or wrong, its a personal thing and everyones 'lizard brain' is unique.

We've got the best start anyone could hope for thanks to vape, all I gotta do now is get out of the way of myself.
'in less than half an hour he made over 100 ticks'
  • #7,027
  • Aug 7, 2018 10:51am Aug 7, 2018 10:51am
Quoting The Cableguy
{quote} Wave 4 can not enter wave 1 territory OJ it can be ABCDE with a crossover, but it does not have that look about it (imo) wave D (your 4) is too small in relation to wave B (your 2). Waves usually have a nice almost symmetrical look to them, but it takes many years to become accustomed to them. I personally wouldn't go down that road, (even though i'm well aware that i keep posting them!)
Thanks buddy, I have a little diagram here now. I'm just having fun and want to take advantage of what to do when everybody thinks is gonna take off and doesn't
'in less than half an hour he made over 100 ticks'
  • #7,028
  • Aug 7, 2018 11:05am Aug 7, 2018 11:05am
Quoting Divergence
i agree that emotions are part and parcel in trading. BUT....... if you have something that is above average in consistency shouldnt your emotions also shift to that way of thinking? take today my loss came because i bought at wrong place if i had looked a little more carefully i would have recognized it. operator error. But it shouldnt stop me from putting on next trade it taught me to look more carefully. we learn by mistakes and correct them as they come
There weren't enough thumbs up for me to agree with this statement.

Once that state of mind is reached, everything else becomes secondary.

Inserted Video
'in less than half an hour he made over 100 ticks'
  • #7,029
  • Aug 7, 2018 11:12am Aug 7, 2018 11:12am
After ABC we go up again for either X wave or back to uptrend and new highs;

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Locked in 36;

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Well, after sitting through several pullbacks, with just my confidence to rely on, i gave in and got taken out at a typical trap for +36;

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I am running it with Spreadbet and hope it doesn't do another big pullback first before shooting... stop is at BE in any case... let's see. It might make me enough for Fish & Chips... (actually, they don't sell that stuff over here, more's the pity!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,030
  • Aug 7, 2018 11:20am Aug 7, 2018 11:20am
Again, if i wasn't messing about posting charts...

Trend is up. This would have been a lovely trade... pullback to Demand within a channel... it's a case of match the likely size of Demand level to trust, along with the current PA (the channel gives that overall view);

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GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,031
  • Aug 7, 2018 11:25am Aug 7, 2018 11:25am
you gotta know everything about your market. every trait and behavior and how it moves. From my experience market selection that fits your strategy is important as much as the strategy itself and the execution

know your lover. make love to it. make it moan your name, as you and the market move in step with each other . and only then you will know the bliss of trading love making
  • #7,032
  • Aug 7, 2018 11:30am Aug 7, 2018 11:30am
Quoting hilmy83
you gotta know everything about your market. every trait and behavior and how it moves. From my experience market selection that fits your strategy is important as much as the strategy itself and the execution know your lover. make love to it. make it moan your name, as you and the market move in step with each other . and only then you will know the bliss of trading love making
my trading music...

Inserted Video
  • #7,033
  • Aug 7, 2018 12:33pm Aug 7, 2018 12:33pm
Channel lines working both ways;

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Two small pullbacks coinciding with Demand and then broken, with retest also coinciding with Supply
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #7,034
  • Aug 8, 2018 8:13am Aug 8, 2018 8:13am
Quoting Divergence
https://youtu.be/_CDdyNkvV40
are you using up 20 be +10 Harold?
Become the casino
  • #7,035
  • Aug 8, 2018 8:49am Aug 8, 2018 8:49am
Quoting erasmus66
{quote} are you using up 20 be +10 Harold?
Yes
  • #7,036
  • Aug 8, 2018 9:51am Aug 8, 2018 9:51am
What a day ... ended at +19 ... was a "just missed it" fest ... good practice though ... getting closer to steady good entries.

I decided that if I have a loss day in live mode, I will trade in sim mode until I have a profit again and then only switch back to live mode. That way I cannot hurt my live acc more than one day in a row. When I have a profit in live mode I stay in live mode.

My target is + 40 ticks then I quit. I am only allowed 3 losses in a row and /or -39 ticks then I must quit, so I am protecting my account from wipe-out and getting realistic practice.
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Never give up !!!
  • #7,037
  • Aug 8, 2018 10:20am Aug 8, 2018 10:20am
7500 anyone?
  • #7,038
  • Aug 8, 2018 10:29am Aug 8, 2018 10:29am
Quoting theunis
What a day ... ended at +19 ... was a "just missed it" fest ... good practice though ... getting closer to steady good entries. I decided that if I have a loss day in live mode, I will trade in sim mode until I have a profit again and then only switch back to live mode. That way I cannot hurt my live acc more than one day in a row. When I have a profit in live mode I stay in live mode. My target is + 40 ticks then I quit. I am only allowed 3 losses in a row and /or -39 ticks then I must quit, so I am protecting my account from wipe-out and getting...

top work uni .. here's a couple more(blue arrow):

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Become the casino
  • #7,039
  • Aug 8, 2018 11:07am Aug 8, 2018 11:07am
Good eye ras
  • #7,040
  • Aug 8, 2018 2:35pm Aug 8, 2018 2:35pm
Quoting erasmus66
{quote} top work uni .. here's a couple more(blue arrow): {image}
Thanks, I must just mention that those were all trades where an actual limit order was at the time during the trade session ... this is a serious exercise ... I want to become consistently profitable on my live account asap ... I have been demo'ing and sim'ing for far too long (from 1997 to be quite honest) ... jumping from one system to another. I did learn a lot but I also picked up a lot of unnecessary baggage that I had to dump later on ... this here is as simple and powerful as it gets ... so it's time !!!

Mr D is really doing us all an enormous favor ... lots traders that become consistently profitable drop out of sight and just enjoy their freedom.
Mr D, you are really paying it forward here !!!
Never give up !!!
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