Disliked{quote} Hi demos! well i saw some signs of exhaustion of the trend and i tried the short at first rejection {image}Ignored
.
good buy trade on crude oil, 32 tick profit for the day.
Dow jones this time...
first trade closed at breakeven. Second one good 10 ticks profit on sell trade.
Third trade: i risked a bit of daily profit and i didn't closed it at stop loss because at bigger picture (range bars 9 pip chart) there was a clear big support area. 15 ticks profit for this long trade.
25 ticks on dow jones and 32 on oil. Very good day, i leave trading for now, see you at next year.
Happy holidays guys!
Pepe
Dow jones this time...
first trade closed at breakeven. Second one good 10 ticks profit on sell trade.
Third trade: i risked a bit of daily profit and i didn't closed it at stop loss because at bigger picture (range bars 9 pip chart) there was a clear big support area. 15 ticks profit for this long trade.
25 ticks on dow jones and 32 on oil. Very good day, i leave trading for now, see you at next year.
Happy holidays guys!
Pepe
First rule is not to lose. Second rule is not to forget the first rule...
- #705
- Dec 22, 2014 11:12am Dec 22, 2014 11:12am
Hi Pepe, On your latest great Oil and Dow trades which are contra in the short term it looks like you ate using a longer term support line as the basis for the entry point? Thanks for the great thread and your generosity All the best and have great festive period! Chris
looking at different range bars size charts gives me a good confidence about bouncy points. Sometimes i am wrong of course when i try to pick reversal points, that's the why i usually try these trades after some profit already banked. First trades of the day i try to move with the big trend (rb7, rb9). When some profit is on "safe" i like to enjoy in open risky trades like these:
The reasons behind the trades you're referring to are:
Oil
There were divergences everywhere and the behaviour of the price has been exactly like i expected on those trendlines so i tried the countertrend trade.
Dow jones
Here there weren't so much confirmations of a long bias, i bet on the bounce on that support (It is not a good trade if we want to observe the rules)
Hope it helps.
Pepe
First rule is not to lose. Second rule is not to forget the first rule...
- #706
- Edited 8:41am Dec 23, 2014 4:33am | Edited 8:41am
Today i was thinking about slow market due christmas holidays incoming and i tried only on demo some trades. Bad decision because some instrument moved quite well.
In this screenshot there are ftse trades, 5 trades, 5 wins.
And here dow jones trades, 3 trades, 3 wins.
Recap from ninjatrader:
Pepe
In this screenshot there are ftse trades, 5 trades, 5 wins.
And here dow jones trades, 3 trades, 3 wins.
Recap from ninjatrader:
Pepe
First rule is not to lose. Second rule is not to forget the first rule...
- #708
- Edited 6:04am Jan 2, 2015 5:49am | Edited 6:04am
Trying a buy order on the support area...
Ooohhhh yes! Another good trade! Floating +11 ticks, setted stop loss at entry point.
Pepe
Ooohhhh yes! Another good trade! Floating +11 ticks, setted stop loss at entry point.
Pepe
First rule is not to lose. Second rule is not to forget the first rule...
- #709
- Edited 9:50am Jan 5, 2015 9:00am | Edited 9:50am
Great day today, four trades and very good profit!!
First and third trade closed at breakeven. Second and fourth amazing collapses on dow jones!
ninja recap:
Pepe
First and third trade closed at breakeven. Second and fourth amazing collapses on dow jones!
ninja recap:
Pepe
First rule is not to lose. Second rule is not to forget the first rule...
- #710
- Jan 5, 2015 3:26pm Jan 5, 2015 3:26pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #712
- Jan 6, 2015 7:56am Jan 6, 2015 7:56am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #713
- Edited 10:43am Jan 6, 2015 9:32am | Edited 10:43am
First trade completes my goal for the day. This is my absolute favorite setup - last retracement low in a micro uptrend is broken (circled in the picture), price then moves down, retraces to the broken level, and it gets rejected, back into the main trend direction (down). {image}
Today has been one of the worst day of my carrier. I did make mistakes and i started to open trades with no rules. Luckily i recovered all the loss and closed at breakeven but i have to take a break until tomorrow. I feel angry because there is no reason to do that, i have a very profitable method and it works in every market condition, it produces also losses of course, but sometimes, something takes hold of me and makes me numb...
I need absolutely to work on this. Any advise is appreciated.
recap:
Pepe
First rule is not to lose. Second rule is not to forget the first rule...
- #714
- Jan 6, 2015 11:18am Jan 6, 2015 11:18am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
If this is the worst day of your career, I think you should be rather pleased. However, I understand what you are saying... just taking random trades to try to make back the missed profit, or make back the loss, or just because you're slowly losing your mind. I've been there, and I can still go there, and I know I will. However, this is one of the main reasons I instituted a goal for the day and a daily shutdown. Trade to reach a target, then just move on. Three losses in a row, move on. Again though, you were hardly down any money at all.... I've...
One of the worst in term of losing mind. In the past i have lost a lot of money (but who of us didn't?) for a stupid mistake but then i widely recovered all with the time, focus and discipline and from that moment i never lost more than 200/300 dollars some days, that days when the market doesn't move at all and you want howsoever try the trade.
Oh yes, that day when i lost 12000 euro in one day, it was a dark day...for me too. But i was a newbie and i felt in love with martingale trading, i made a lot of money in demo with martingale, the first day that i switched on real i lost 12000 euro and luckly i closed the positions instead of adding new ones.
Today i don't think anymore as "lost" those money, they have been the cost of my "training"
.The loss helped me a lot and it made me a better trader.thanks for your advice.
Pepe
First rule is not to lose. Second rule is not to forget the first rule...
- #716
- Jan 6, 2015 2:47pm Jan 6, 2015 2:47pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #717
- Jan 6, 2015 5:32pm Jan 6, 2015 5:32pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #718
- Jan 6, 2015 6:23pm Jan 6, 2015 6:23pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
One more from the same location, a little bit higher where the stops from the earlier shorts are taken out.
Small disciplines repeated with consistency lead to great achievements.
- #719
- Edited 8:07am Jan 7, 2015 7:38am | Edited 8:07am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Breakout (breakdown) pullback -
Similar trade, but on a more micro-level, to get back in with the larger trend.
Similar trade, but on a more micro-level, to get back in with the larger trend.
Small disciplines repeated with consistency lead to great achievements.
- #720
- Edited 2:15pm Jan 7, 2015 12:54pm | Edited 2:15pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
A couple afternoon trades; not quite as accurate as I would like to be, but got the job done.
One more trade; I totally forgot about the FOMC minutes otherwise I would have been around earlier.
One more trade; I totally forgot about the FOMC minutes otherwise I would have been around earlier.
Small disciplines repeated with consistency lead to great achievements.