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Plan the Trade

  • #10,441
  • Jan 30, 2019 10:14am Jan 30, 2019 10:14am
Got 75ticks total yesterday. Out and done for today with 39 total. Faded this last quick thrust up when it hit an area with previous selling . . . .
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  • #10,442
  • Edited 12:46pm Jan 30, 2019 11:27am | Edited 12:46pm
Rough start. 1st entry was too low, price reversed right on the stop.

At 1 point i was net 2 losers, if i had 1 more i would have called it a day and held that negative.

Edit: net 2 losers meaning 5 stops at -10 and 1 target at +30 leaving -20 which is 2 stops

Attached Image (click to enlarge)
Click to Enlarge Name: YM 2019.01.30.PNG Size: 23 KB


+600 in targets (4)
-250 in stops (5)
-34.74 commision (9)

Net 315.26 on 1 contract
  • #10,443
  • Jan 30, 2019 11:38am Jan 30, 2019 11:38am
Quoting LookinGood
Rough start. 1st entry was too low, price reversed right on the stop. At 1 point i was net 2 losers, if i had 1 more i would have called it a day and held that negative. {image} +600 in targets (4) -250 in stops (5) -34.74 commision (9) Net 315.26 on 1 contract
your doing well LG looks like a combo of pullbacks and breaks right?
  • #10,444
  • Jan 30, 2019 11:58am Jan 30, 2019 11:58am
Quoting LookinGood
Rough start. 1st entry was too low, price reversed right on the stop. At 1 point i was net 2 losers, if i had 1 more i would have called it a day and held that negative. {image} +600 in targets (4) -250 in stops (5) -34.74 commision (9) Net 315.26 on 1 contract
Either I am just dense today or probably woke up on the wrong side today or both :-(

5*(-10) = -50T in loss and 4*30T=120T in profit. Net profit = 120-50=70T/contract (just by going with your chart which has no price or time so hard to understand what is going on)
Staying in my lane...
  • #10,445
  • Jan 30, 2019 11:59am Jan 30, 2019 11:59am
Quoting Divergence
{quote} your doing well LG looks like a combo of pullbacks and breaks right?
That's it. Nothing complicated. Just chart watching.
  • #10,446
  • Jan 30, 2019 12:00pm Jan 30, 2019 12:00pm
Quoting VEEFX
{quote} Either I am just dense today or probably woke up on the wrong side today or both :-( 5*(-10) = -50T in loss and 4*30T=120T in profit. Net profit = 120-50=70T/contract (just by going with your chart which has no price or time so hard to understand what is going on)
You got it right. Take it a step further and convert the ticks to dollars so you can net with commissions.

Here's with time (est) and price (YM)
Attached Image (click to enlarge)
Click to Enlarge Name: YM 2019.01.30 with time and price.PNG Size: 43 KB
  • #10,447
  • Jan 30, 2019 12:07pm Jan 30, 2019 12:07pm
Quoting VEEFX
{quote} Either I am just dense today or probably woke up on the wrong side today or both :-( 5*(-10) = -50T in loss and 4*30T=120T in profit. Net profit = 120-50=70T/contract (just by going with your chart which has no price or time so hard to understand what is going on)
you and me both man..this week is shit for me...will post chart in a bit
  • #10,448
  • Jan 30, 2019 12:15pm Jan 30, 2019 12:15pm
I needed it explained too. Lol
Should have paid closer attention.
Nice work and good profit LG
  • #10,449
  • Jan 30, 2019 12:31pm Jan 30, 2019 12:31pm
Quoting LookinGood
Rough start. 1st entry was too low, price reversed right on the stop. At 1 point i was net 2 losers, if i had 1 more i would have called it a day and held that negative. {image} +600 in targets (4) -250 in stops (5) -34.74 commision (9) Net 315.26 on 1 contract
LG.. nice results.. which broker?
  • #10,450
  • Jan 30, 2019 12:43pm Jan 30, 2019 12:43pm
Quoting bluejack
{quote} LG.. nice results.. which broker?
amp/cqg
  • #10,451
  • Jan 30, 2019 1:09pm Jan 30, 2019 1:09pm
Quoting LookinGood
{quote} You got it right. Take it a step further and convert the ticks to dollars so you can net with commissions. Here's with time (est) and price (YM) {image}
Thanks for making my day bro. Feeling dumb just adds to my frustration as I already asked two questions at work since morning and got a "deer in the headlight" stare in return....thought it was just me :-(
Staying in my lane...
  • #10,452
  • Jan 30, 2019 1:19pm Jan 30, 2019 1:19pm
Quoting hilmy83
{quote} you and me both man..this week is shit for me...will post chart in a bit
that last trade was a mistake in TP. should've been beyond the high/low..

Attached Image (click to enlarge)
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  • #10,453
  • Jan 30, 2019 1:24pm Jan 30, 2019 1:24pm
Quoting hilmy83
{quote} you and me both man..this week is shit for me...will post chart in a bit
Not my day for sure.. I just wrote a post and accidentally deleted it and the stupid market replay is randomly pausing as well for no apparent reason. All in all a fucked up morning lmao
Staying in my lane...
  • #10,454
  • Jan 30, 2019 1:31pm Jan 30, 2019 1:31pm
also do you guys have weekly or monthly goals? i have set daily goals for myself in ticks (20% of current session range), but i alwasy seem to give back my monthly profits.

not sure what good weekly or monthly profit should be. i dont like to set $ value since that doensn't jive with market volatility.

in other words..when do you say if that's enough money for the month? week?
  • #10,455
  • Jan 30, 2019 1:35pm Jan 30, 2019 1:35pm
my daily goal is 2 25 tick wins if not as much as i can make in 1 hour. trading with 6 contracts if i make just 25 ticks 4 days a week thats 3000 or 12000 a month not a bad business plan non stressful
  • #10,456
  • Jan 30, 2019 1:50pm Jan 30, 2019 1:50pm
Quoting hilmy83
also do you guys have weekly or monthly goals? i have set daily goals for myself in ticks (20% of current session range), but i alwasy seem to give back my monthly profits. not sure what good weekly or monthly profit should be. i dont like to set $ value since that doensn't jive with market volatility. in other words..when do you say if that's enough money for the month? week?
I have thought about this shit 7 ways to sunday and y'all know how fucking retarded I get when I dont have the answer I am looking for. So here's my POV.

I have always been of the camp of having Monthly goals and looking at weekend exposure etc, moved to Weekly goals. I still am (part of me) staying with the weekly goals BUT we must know this and be self-aware of it. If you set weekly goals, your daily goals will suffer (atleast my stats were flip floping between the two and I could not make a firm determination which one is better or worse so stayed with weekly in Spot FX because I was looking at it from a portfolio mgr angle)

With NQ, I feel it is crucial to have a daily goal (just for self-imposed discipline for my mind) and it is also crucial to STOP trading at some point during the daily cycle. What is that right balance to do this every day towards a weekly goal is anybody's guess... atleast I am unable to figure that out.

I know this for sure, when I go full time, I will be withdrawing funds on a weekly basis as I like to manage my budget and expenses on a weekly basis to avoid spending more than I make. No weekly income, only rice and beans for the next week and no weekend trips/parties/music shows/etc... it's as simple as that (to set expectations with my wife when I retire or go full time!). Plus I have written in depth, my trading income/cash flow will be done on an annual basis. one year in emergency fund and another year to go towards following year and then do our planning on an annual basis.... far fetched thinking but hey, Trade the plan, plan the trade so here I am :-)
Staying in my lane...
  • #10,457
  • Jan 30, 2019 2:00pm Jan 30, 2019 2:00pm
Its less of a tick target for me and more of a performance thing.

If i'm feeling stressed then i'll do a mini evaluation and if i can calm down then i'll keep going otherwise i'll just stop.

I just started this live test account so i can't really say i feel any heat yet but my current target for this account is about 250 - 300 ticks a week avg. Once i start upping contracts i may bump that # up or down.
  • #10,458
  • Jan 30, 2019 6:18pm Jan 30, 2019 6:18pm
Not a good day for me I was up 80 ticks and lost all of it being away from my computer around 1 pm cst
  • #10,459
  • Jan 30, 2019 6:47pm Jan 30, 2019 6:47pm
Quoting VEEFX
{quote} I should go with the size that I need to generate income from day one and not bother with growth.
Why?
  • #10,460
  • Jan 30, 2019 9:53pm Jan 30, 2019 9:53pm
Quoting VEEFX
in continuation.... lets say our goal monthly is $15K... taking Harold's example, would you stop trading if you make two trades each worth 250Ticks @ 6 Contracts on day one? Would you have the discipline to call it a month and enjoy your monthly income with just a few hours of effort? I am sure many of us will not stop trading and lose some of the earnings trying to make some more. The "today is my lucky day" factor plays a huge role in our minds lol
The less i am in the market, the better
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