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  • #661
  • May 5, 2020 1:52pm May 5, 2020 1:52pm
Quoting 133usd
It was a calm & easy day. Was done by 1030am as usual. From 9 to 10 it was a solid range for scalping with sellers trying to absorb as much as possible. Around 10:05am price was fighting back and forth with my divergence alert triggering in both directions, which means a turn is about to happen/reversal. {image}
Blown 50% equity today, not feeling great.
Gotta stop trading now, reassess later.
on a postive roll...
  • #662
  • May 5, 2020 7:16pm May 5, 2020 7:16pm
Quoting Rmg
{quote} Blown 50% equity today, not feeling great. Gotta stop trading now, reassess later.

Real money?
I suck at being a mentor, but this stuff happens to the best of the best. My best advice is to take a break, breath, and figure out what caused the loss and then after that try to "digest" the loss and move on, without forgetting the cause of it. Everyone has done it.

Put it into perspective... Some guys go in with big money $100k+ and have not a clue on how to trade and they lose it all.
It's a skill to be able to take a bad trade and eventually continue on and grow from it.
The main thing I've seen in my trading is that once you know your weakness that caused a loss, then you constantly watch for that weakness/bad habit because it will creep back into your trading from time-to-time. I still fight bad habits and traits from my "old self"

Regroup and come back strong
  • #663
  • May 6, 2020 4:00am May 6, 2020 4:00am
Quoting 133usd
{quote} Real money? I suck at being a mentor, but this stuff happens to the best of the best. My best advice is to take a break, breath, and figure out what caused the loss and then after that try to "digest" the loss and move on, without forgetting the cause of it. Everyone has done it. Put it into perspective... Some guys go in with big money $100k+ and have not a clue on how to trade and they lose it all. It's a skill to be able to take a bad trade and eventually continue on and grow from it. The main thing I've seen in my trading...
Yes, real money. Small amount. Not so small as I have no other job.
Impulsive unplanned trades out of the trading plan is the cause over and over again.
No clicking mouse for 2 weeks, instead watching my set up unfolding and take notes. Practice not to trade now.
Whatever it takes to... My mantra.

Inserted Video
on a postive roll...
  • #664
  • May 6, 2020 2:11pm May 6, 2020 2:11pm
Finished up around 10:50am with last trade being a short. Would be up +200 on top of this gain if I didn't take trades in pre-open (I'm not suppose to take pre-open trades...strict rule, broke it...)

I knew it would be rangebound/choppy, so at the open I just held my short and rode it down. Re-shorted a few more times, hit and run.
Not my best, not my worst.
Grind it out with small trades on choppy/rangey days like this

If you know it's a range, trade it like one. Don't chase, that's what they want us to do.
Attached Image
  • #665
  • May 7, 2020 12:19pm May 7, 2020 12:19pm
Calling it a day.
Finished by 11am.
Unemployment claims are up I thought, but lucky for me I don't trade the news. Market is rallying upwards on bad news, which I expected. The unemployment claims are just a "lagging indicator" for the most part.

Totally speculative idea for the afternoon/evening: Getting this feeling that someone is selling into this pretty hard and once the market buy orders dry up, it might just tank down towards 23,500. I get the feeling I'd be holding the bag trying to scalp longs from these prices on the intraday.
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  • #666
  • May 8, 2020 4:08am May 8, 2020 4:08am
Attached Image (click to enlarge)
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on a postive roll...
  • #667
  • May 8, 2020 8:28am May 8, 2020 8:28am
Quoting Rmg
{image}

Are you ready to trade again? Demo trade at least.

We just had news at 730 with a nice volatility spike but direction is still flat past few hours.
I've got no bias and the open is in 3 minutes !
  • #668
  • May 8, 2020 9:46am May 8, 2020 9:46am
Quoting 133usd
{quote} Are you ready to trade again? Demo trade at least. We just had news at 730 with a nice volatility spike but direction is still flat past few hours. I've got no bias and the open is in 3 minutes !
Spent too long on simulation already , tired of it now.
I need to step back a while to get a clear picture.
on a postive roll...
  • #669
  • May 8, 2020 9:49am May 8, 2020 9:49am
Quoting 133usd
{quote} Are you ready to trade again? Demo trade at least. We just had news at 730 with a nice volatility spike but direction is still flat past few hours. I've got no bias and the open is in 3 minutes !
Still in range ,call it a day mate.
on a postive roll...
  • #670
  • May 8, 2020 10:34am May 8, 2020 10:34am
Quoting Rmg
{quote} Still in range ,call it a day mate.

Yeah you are right!
Price was really sticky. I was buying lows after the open and almost got pinched on my longs and I took 1/2 off at a small loss then pulled through on the rest.
There was huge buying at the 24140 area, lots of 5/10/20 flying off.

I'm flat now. Not wanting to hold into this flat area on a Friday. Posting P/L soon here.
  • #671
  • May 8, 2020 10:45am May 8, 2020 10:45am
Boo, not the best day.
But hey came out ahead and I have stuff to do
I got scared on the tripple touch of support 24020 and closed 1/2 my longs after the bounce.
If I chase this, I'll ruin my day, I can just feel it. So Closing out all platforms
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  • #672
  • May 8, 2020 10:52am May 8, 2020 10:52am
Quoting 133usd
Boo, not the best day. But hey came out ahead and I have stuff to do I got scared on the tripple touch of support 24020 and closed 1/2 my longs after the bounce. If I chase this, I'll ruin my day, I can just feel it. So Closing out all platforms {image}
Small or big, end the week in green.
Have a nice weekend.
on a postive roll...
  • #673
  • May 8, 2020 1:16pm May 8, 2020 1:16pm
Quoting Rmg
{quote} Small or big, end the week in green. Have a nice weekend.

Very true, ending in green is best. Thanks RMG, you also have a good weekend buddy.

I've been browsing this article all about algo trading, interesting stuff.
https://www.reuters.com/article/busi...40797620070531
  • #674
  • May 10, 2020 3:18am May 10, 2020 3:18am
Quoting 133usd
{quote} Very true, ending in green is best. Thanks RMG, you also have a good weekend buddy. I've been browsing this article all about algo trading, interesting stuff. https://www.reuters.com/article/busi...40797620070531
Yes, very interesting stuff.
BigBoys from Zurich know very well their job, as showed by stellar earnings they had even on an exceptional historical depressed Q1/2020 for most Companies and people in the world.
They are so accurate and never sleep to keep update and modernize their way of trading.
Once I was even angry with these kind of sharks but when you do your job in so accurate way, it's become an example to improve this job at every level, for everyone!

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I call upon my father's spirit , watching over me
  • #675
  • May 10, 2020 7:14am May 10, 2020 7:14am
Quoting 133usd
{quote} Very true, ending in green is best. Thanks RMG, you also have a good weekend buddy. I've been browsing this article all about algo trading, interesting stuff. https://www.reuters.com/article/busi...40797620070531
Yes sounds scary for us retail traders, seems Algo wars as of nowadays.
But a discretionary trader with an intagible edge such as "Brixen" can beat it ten folds.
on a postive roll...
  • #676
  • May 10, 2020 4:30pm May 10, 2020 4:30pm
Quoting Brixen
{quote} Yes, very interesting stuff. BigBoys from Zurich know very well their job, as showed by stellar earnings they had even on an exceptional historical depressed Q1/2020 for most Companies and people in the world. They are so accurate and never sleep to keep update and modernize their way of trading. Once I was even angry with these kind of sharks but when you do your job in so accurate way, it's become an example to improve this job at every level, for everyone! {image}

I Agree Brixen! Every good trader has that "anger stage" regarding HFT's (essentially market makers, but not technically). Then we realized we need to know who's playing the game and to follow their flow to some extent.


Credit Suisse is one of them yup, along with a few more...

CME lists the following for "liquidity providers" for mini dow and S&P:
Akuna Capital, Bank of America, Barak Capital, Barclays, BMO Capital Markets, BNP Paribas, Citi,
Flow Traers, Goldman Sachs, JPMorgan, Morgan Stanley, Optiver, Simplex, Societe Generale,
TD Securities, and UBS.
  • #677
  • May 10, 2020 4:55pm May 10, 2020 4:55pm
Quoting Rmg
{quote} Yes sounds scary for us retail traders, seems Algo wars as of nowadays. But a discretionary trader with an intagible edge such as "Brixen" can beat it ten folds.

A discretionary trader with an edge can definitely rival an HFT Algo! No doubt, because we play a slightly different game and that's all we need really (to make enough money and call it a day).
I don't know much about Brixen but I'd love to hear more details, definitely !!!

I've watched a lot of interviews with ex pit traders and some of them have learned to trade electronically, and some of them ended up failing at electronic vs open outcry. The disconnect for many of them is being able to hear volume, see the big orders absorbing and being able to see an orderflow in front of them and knowing is the pit mostly long or short (cumulative delta essentially). Now with mini and micro Dow, that instrument is ill-liquid and levels are too shallow to really deeply analyze order flow. I can't lean on any resting orders really and the HFT's/Algos have a way of breaking up their trades into several chunks. So it is much more difficult to detect, but not impossible.

I think every serious trader now days is almost a part-time researcher it seems. How could we survive without doing our homework?!?
  • #678
  • May 11, 2020 12:36am May 11, 2020 12:36am
Quoting 133usd
{quote} Very true, ending in green is best. Thanks RMG, you also have a good weekend buddy. I've been browsing this article all about algo trading, interesting stuff. https://www.reuters.com/article/busi...40797620070531
I suggest this book if you're interested in how these algo work and what is the theory behind them.
https://www.amazon.com/High-Frequenc.../dp/B0032CVB6K
  • #679
  • May 11, 2020 1:41am May 11, 2020 1:41am
Quoting 133usd
{quote} I Agree Brixen! Every good trader has that "anger stage" regarding HFT's (essentially market makers, but not technically). Then we realized we need to know who's playing the game and to follow their flow to some extent. Credit Suisse is one of them yup, along with a few more... CME lists the following for "liquidity providers" for mini dow and S&P: Akuna Capital, Bank of America, Barak Capital, Barclays, BMO Capital Markets, BNP Paribas, Citi, Flow Traers, Goldman Sachs, JPMorgan, Morgan Stanley, Optiver, Simplex, Societe Generale, TD Securities,...
As I previously wrote, once I even hated them, but now I understand that they move the markets, sometimes in wild and erratic ways, and they gave me my piece of cake everyday...at least for now!

Anyway I'm only a survivor here, a naive trader, nothing more , nothing less...

Good luck for you, for Rmg and for me!
I call upon my father's spirit , watching over me
  • #680
  • May 11, 2020 4:47am May 11, 2020 4:47am
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on a postive roll...
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