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My take on Emotional Discipline

  • #341
  • May 19, 2019 6:43am May 19, 2019 6:43am
Quoting Rmg
Backtests results of 2011-2019 Dow 15 min bar LO range BO 8am-5pm. {image} {image} {image}
What are you looking at here? NYSE open breaking the European session range?
  • #342
  • May 19, 2019 8:16am May 19, 2019 8:16am
Quoting bapakjason
{quote} What are you looking at here? NYSE open breaking the European session range?
London open 8:15 bar.
on a postive roll...
  • #343
  • May 19, 2019 10:20am May 19, 2019 10:20am
I just open my membership. But i am not new to here. I also learn lot from here. So i like this title. Because this is the most valuable and hard part.

Actually we have not lot to master but it's not about quantity but about how hard to get know and realize that tiny disciplines. What i done to do this is very simple. After losing many years i just focus on learning while applying. That journey taught me lot about discipline. Actually it cost me more to learn that. I started trading as a Discretionary trader as most of traders start. But now i am a Systematic trader who use Quantitative Analyze.

I know there can many ways to control your emotions. Actually it is relative to each other. So i can only tell things that i gone through and i experienced.

After following System Trading ( System trading is rule-based trading, where the decision to make a trade is based entirely upon the trading system. System trading decisions are absolute and do not offer the opportunity to decline to make a trade based on the trader's discretion. If the criteria are met, the trade is taken ) This is the way i can control. So i trade only System not emotion. So having pre defined rules will make you more discipline. So now i addicted it. If i use Discretionary that practices save me from my emotions. Having a ruled based system is a great way to control. when you practice it for long time then that experience will never let you out of frame. This is my experience that how i controlled. I know this will not suite for everyone. But if there is anyone like this can try.
" People don't care about what you say, they care about what you build "
  • #344
  • May 20, 2019 2:33am May 20, 2019 2:33am
Quoting FuturePips
I just open my membership. But i am not new to here. I also learn lot from here. So i like this title. Because this is the most valuable and hard part. Actually we have not lot to master but it's not about quantity but about how hard to get know and realize that tiny disciplines. What i done to do this is very simple. After losing many years i just focus on learning while applying. That journey taught me lot about discipline. Actually it cost me more to learn that. I started trading as a Discretionary trader as most of traders start. But now i am...
Well put, But I Don't have an edge, which is the main reason all those emotional roller coster.
If you have an edge , you shouldn't be worry about discipline issues.
Allmost all of us here in FF don't have an edge including red diamond tagged members bragging all over the this forum Don't have a clue what they are bluffing about.!!!
on a postive roll...
  • #345
  • Edited 3:49am May 20, 2019 3:21am | Edited 3:49am
Quoting Rmg
{quote} Well put, But I Don't have an edge, which is the main reason all those emotional roller coster. If you have an edge , you shouldn't be worry about discipline issues. Allmost all of us here in FF don't have an edge including red diamond tagged members bragging all over the this forum Don't have a clue what they are bluffing about.!!!
I was just sitting in the bath and thinking that I definitely HAVE an edge, an emotional edge that I habitually fall off. So the true trick is to NOT have an edge...no emotional cliff to fall off. When I am in the red I tend to trade well with balance and control. When I am in green I am high. Maybe I need a frontal lobotomy (joking). The trick is to learn how to trade, and experience green AND red, and somehow feel and know that green is good and right and true and red is no fuss, all with balance, moderation and control. An emotional enigma...
My username Hellsbells is a mix of my first name, last name, and reputation for being like a bull in a China shop ie hellsbells helena what are you doing !!! For Gods sake stop!! I would probably do better with a username like "Slowriver" or the unsexy "Crawling". Hhmm maybe I just need a name change...
Actually I quite like slowriver... pleasant and calm

My partner just suggested my username should be "Dickhead" . I said how the hell am I supposed to make money with that????
  • #346
  • May 20, 2019 4:45am May 20, 2019 4:45am
Quoting hellsbells
{quote} I was just sitting in the bath and thinking that I definitely HAVE an edge, an emotional edge that I habitually fall off. So the true trick is to NOT have an edge...no emotional cliff to fall off. When I am in the red I tend to trade well with balance and control. When I am in green I am high. Maybe I need a frontal lobotomy (joking). The trick is to learn how to trade, and experience green AND red, and somehow feel and know that green is good and right and true and red is no fuss, all with balance, moderation and control. An emotional enigma......
If you don't mind, what is your edge?
on a postive roll...
  • #347
  • Edited 5:27am May 20, 2019 5:12am | Edited 5:27am
Quoting Rmg
{quote} If you don't mind, what is your edge?

My edge is my experience. After 4 years I KNOW

Do not trade 1st 2 hours of Asian
Concentrate on 1 pair at a time
Do not over commit
Be open to both bull and bear
TL even 1min , if they are longer than 20 min, can be strong as steel
BEWARE NEWS
Do not pay heed to FF opinions
TP. Do not ever expect maximum pips. TP.
Be prepared to change your view...
I'm sure there should be a lot more here.
Stick to 1 TF.. hammer , shooting star when confirmed with triple candle confirmed are GOLD. In fact triple candle reversals should always be attended to.. HH HL LL LH are all very important input that should be listened to.. far more than any red diamond x
For goodness sake do not get big DD. Deal with waste. Poor trades are waste. Deal with them. Eliminate waste
XO
  • #348
  • May 20, 2019 5:55am May 20, 2019 5:55am
Quoting hellsbells
{quote} My edge is my experience. After 4 years I KNOW Do not trade 1st 2 hours of Asian Concentrate on 1 pair at a time Do not over commit Be open to both bull and bear TL even 1min , if they are longer than 20 min, can be strong as steel BEWARE NEWS Do not pay heed to FF opinions TP. Do not ever expect maximum pips. TP. Be prepared to change your view... I'm sure there should be a lot more here. Stick to 1 TF.. hammer , shooting star when confirmed with triple candle confirmed are GOLD. In fact triple candle reversals should always be attended...
So you are a discretionery trader. Intuitive based on PA.
I was once, then came to realise that intuition based on PA not enough to quantity my edge. If I can't quantify my edge based on probabilities what may happened in future in other words positive expectancy outcome over the large number of sample size, I do not have an edge.
on a postive roll...
  • #349
  • May 20, 2019 8:40am May 20, 2019 8:40am
Quoting Rmg
{quote} So you are a discretionery trader. Intuitive based on PA. I was once, then came to realise that intuition based on PA not enough to quantity my edge. If I can't quantify my edge based on probabilities what may happened in future in other words positive expectancy outcome over the large number of sample size, I do not have an edge.
I am about 90+% certain there is no such "Raw Edge" that exists in any market that can work at x% of probability Consistantly over a long period. It's foolish to even search for one imo as any such Raw edge would yield Billions if it was so easy to find and exploit. The only thing closest to Raw edge that I could find is momentum i.e. speed of price movements gauged by me as a trader and not by some calculation or indicator. Pretty much everything I have tried thus far on price or derivative of price always decays over time. Some soon and some slowly over time giving the illusion of edge and success. Just my experience bro
Staying in my lane...
  • #350
  • May 20, 2019 9:17am May 20, 2019 9:17am
Quoting VEEFX
{quote} I am about 90+% certain there is no such "Raw Edge" that exists in any market that can work at x% of probability Consistantly over a long period. It's foolish to even search for one imo as any such Raw edge would yield Billions if it was so easy to find and exploit. The only thing closest to Raw edge that I could find is momentum i.e. speed of price movements gauged by me as a trader and not by some calculation or indicator. Pretty much everything I have tried thus far on price or derivative of price always decays over time. Some soon and...
Raw edges are there Bro!!, Nearly impossible to find one ,But no one will spit it out for us . I think It takes years and years of trial and error to find one ,hence no one wants to put it out publicly. There are only slight edge available even if its a solid one .
Even if we find one and applied it consistenlty , still we could very much end up in loosing side as there is a luck element needed as Monte carlo simultions shows.
on a postive roll...
  • #351
  • May 20, 2019 12:08pm May 20, 2019 12:08pm
forward testing on simulation
Attached Image
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  • #352
  • May 20, 2019 4:25pm May 20, 2019 4:25pm
I will add that I have volumes at the bottom of my chart too, and I definitely hunt increased volume / momentum of PA. I am also happy to say that I do not have all the answers, sometimes everything is perfect, sometimes everything is bad. I have never used an EA, and don't think I ever will. I like manual.
  • #353
  • Edited May 21, 2019 3:59am May 20, 2019 5:50pm | Edited May 21, 2019 3:59am
Quoting Rmg
{quote} Raw edges are there Bro!!, Nearly impossible to find one ,But no one will spit it out for us . I think It takes years and years of trial and error to find one ,hence no one wants to put it out publicly. There are only slight edge available even if its a solid one . Even if we find one and applied it consistenlty , still we could very much end up in loosing side as there is a luck element needed as Monte carlo simultions shows.
Yeah. I am the guy who can find a hay in a stack of needles if not the other way around. I am pretty such it does not exists (unless someone shows me otherwise). In my definition, a +50% probability setup is not enough to call it a Raw edge as, in the end, how you execute ultimately DETERMINES THE PROBABILITY of your given edge so why the f*ck do we bother to search for the Grail?

I stopped searching for such Raw edge more than a decade ago (one year after I ran into the Millipede thread in 2002/3 !!! If we can spread the exposure across multiple instruments or markets than Entries are NOT important at all. The only thing matters then is to win more than your losses. Such simple and elegant and yet most blow their accounts (including me)

Edit: obviously, for futures and specifically for a beast like NQ, Entries are everything which is where my personal struggle is. A completely different mindset requiring immense focus on entries. Hopefully I will get there soon...with or without this so called raw edge
Staying in my lane...
  • #354
  • May 21, 2019 2:57am May 21, 2019 2:57am
https://chatwithtraders.com/ep-021-adam-grimes/
on a postive roll...
  • #355
  • May 21, 2019 3:52am May 21, 2019 3:52am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20190521-165152.jpg Size: 152 KB
  • #356
  • May 21, 2019 9:34am May 21, 2019 9:34am
https://evilspeculator.com/building-...actical-guide/
on a postive roll...
  • #357
  • May 22, 2019 12:37pm May 22, 2019 12:37pm
Showing off will brings in" buttkisses".
Learnt from FF.
on a postive roll...
  • #358
  • Edited 9:47pm May 22, 2019 9:28pm | Edited 9:47pm
Quoting Rmg
{quote} Raw edges are there Bro!!, Nearly impossible to find one ,But no one will spit it out for us
I think at the end of the day the true edge lies in your ability to read the tape properly the sad reality is that many can't including myself I'm still learning. But what I have found to be "the" foundation for finding a true edge is to first understand what "market" not you it doesn't care less about us means by S&R because everything happens around S&R , but the trick is there're many ways to plot an S&R yes pattern edges, by peak and trough , or by fib retracement S&R alone is so darn complex no wonder many fail at trying to do and understand many concepts at the same time. It is very obvious around here that after years and years in the game many don't have the slightest clue as to correct the definition of S&R, the variance and proper recognition and visual cues as to what they can expect around these levels. I also have been guilty of trying to juggle so much at the same time.

If you decide to play by S&R (seems to me there's no other way around to it and possibly the simplest way to reach consistency but simple in a relative sense then you should narrow down your definition of S&R on a single TF combining multiple TF is also a bad bad idea! considering the complexity of PA and the relative v comparative forces so start by observing how price behaves around those levels see if you can find some kind of a pattern because I think they exist I'm not 100% sure but I can tell you with 70% certainty that do they do I've seen some fragments doing this task alone will take one years and years 5 or more you're right and no one will spoon feed you or me the best they can do is guide or give you a hint and I don't blame them I also wouldn't give what I have worked day and night for 5 years or more to just anyone just like that and our job is find who's providing those "hints" not some BS and go from there headed for the final destination - clarification - to find our niche.
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  • #359
  • May 23, 2019 8:48am May 23, 2019 8:48am
Mean reverting strategists, watch your loss limits today!!
on a postive roll...
  • #360
  • May 23, 2019 12:30pm May 23, 2019 12:30pm
Attached Image
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