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  • #9,801
  • Jan 28, 2016 12:34pm Jan 28, 2016 12:34pm
Quoting ddaytrader
{quote} I find that when I am feeling I am exercising discretion, it usually means one of two things: 1) I have not identified and written my rules correctly, or 2) there is no real edge, and I am fooling myself into thinking I have one.



*nods head in agreeance*


haha, i like to think of it as a stressometer! If it seems stressful, it probably isn't a good set-up!
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  • #9,802
  • Jan 28, 2016 12:42pm Jan 28, 2016 12:42pm
I am glad you are writing this stuff down as I get older I seem to forget things easier than when I was a kid. Trading is very hard but with work and commitment to finding the edge and a well structured mm in place to accumulate money you can actually make a living at this
  • #9,803
  • Jan 28, 2016 12:54pm Jan 28, 2016 12:54pm
Quoting The Cableguy
{quote} *nods head in agreeance* haha, i like to think of it as a stressometer! If it seems stressful, it probably isn't a good set-up!
the setups was not what was causing stress it was the finding setup checking macd watching countdowntimer now its just know direction wait for setup wait till it forms put on stop entry
  • #9,804
  • Jan 28, 2016 1:09pm Jan 28, 2016 1:09pm
Quoting Divergence
{quote}the setups was not what was causing stress it was the finding setup checking macd watching countdowntimer now its just know direction wait for setup wait till it forms put on stop entry
I think the cableguy was replying to my post and not you. We were both simply saying that trading without clearly defined set ups is stressful (and I'm sure you would agree).

In other news - is there any question we are in a bear market? This is trading like 2008-2009 with these 80 to 200 point intraday dow swings. Holy Moly!
  • #9,805
  • Jan 28, 2016 1:14pm Jan 28, 2016 1:14pm
Quoting ddaytrader
{quote} I think the cableguy was replying to my post and not you. We were both simply saying that trading without clearly defined set ups is stressful (and I'm sure you would agree). In other news - is there any question we are in a bear market? This is trading like 2008-2009 with these 80 to 200 point intraday dow swings. Holy Moly!
though I am not knowledgeable about those things all I can say is I don't know hope not for usa sake but for us just keep giving us the setups and yes I have been there with no really defined plan or worse having one but not following it which is worse
  • #9,806
  • Jan 28, 2016 1:34pm Jan 28, 2016 1:34pm
Two closing comments from me:

H : could you not add a slower MACD to your 333 to duplicate the xover points on the 999 (to save having to look at a second chart) ?

dd : I'm with you on the attraction of the YM... but in the context of your "small account expansion project" with the ES, the YM doesn't offer the possibility to get beyond relatively small size. The question I ask myself is if I would really need or want to do this (trade size), if indeed I could. Perhaps I'd happily take $1k+ / day on a consistent basis.... but I've still got an ES chart up nonetheless !
  • #9,807
  • Jan 28, 2016 1:46pm Jan 28, 2016 1:46pm
Quoting jtrade
Two closing comments from me: H : could you not add a slower MACD to your 333 to duplicate the xover points on the 999 (to save having to look at a second chart) ? dd : I'm with you on the attraction of the YM... but in the context of your "small account expansion project" with the ES, the YM doesn't offer the possibility to get beyond relatively small size. The question I ask myself is if I would really need or want to do this (trade size), if indeed I could. Perhaps I'd happily take $1k+ / day on a consistent basis.... but I've still got an ES...
I have read in other places guys putting on 5 and 10 contracts. But jt heres the thing you need to ask yourself how much do I want to make as a minimum each day/ getting 50 ticks on ym isn't that hard 3 trade max. so trading 3 contracts with no partial fills is 750 a day or 3000 a week based on 4 day trade week that's 12000 a month I know things are a lot more expensive over in Europe but 12000 should at least let you and the misses go to the movies and have burger king afterwards
  • #9,808
  • Jan 28, 2016 1:50pm Jan 28, 2016 1:50pm
JT would I just triple the setting on the macd to accomplish that?
  • #9,809
  • Jan 28, 2016 2:06pm Jan 28, 2016 2:06pm
Quoting Divergence
JT would I just triple the setting on the macd to accomplish that?

That's where I would start - it's late here, so I'll work it out tomorrow morning...
  • #9,810
  • Jan 28, 2016 2:58pm Jan 28, 2016 2:58pm
Quoting jtrade
dd : I'm with you on the attraction of the YM... but in the context of your "small account expansion project" with the ES, the YM doesn't offer the possibility to get beyond relatively small size. The question I ask myself is if I would really need or want to do this (trade size), if indeed I could. Perhaps I'd happily take $1k+ / day on a consistent basis.... but I've still got an ES chart up nonetheless !
The thing is, this bad boy is $3.78m, so we need to get a move on!

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  • #9,811
  • Edited 9:38pm Jan 28, 2016 8:03pm | Edited 9:38pm
I am more of a bass boat kind of guy cable guy
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  • #9,812
  • Jan 29, 2016 12:56am Jan 29, 2016 12:56am
Over here we fish through ice on winter. Equipments costs less than 100 dollars
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  • #9,813
  • Edited 1:31am Jan 29, 2016 1:04am | Edited 1:31am
... & here I am (btw, CG, I see you've already got your blonde on board ...) :

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  • #9,814
  • Jan 29, 2016 1:05am Jan 29, 2016 1:05am
Quoting tdforex
Over here we fish through ice on winter. Equipments costs less than 100 dollars {image}
td - looks like your're well & truly screwed
  • #9,815
  • Jan 29, 2016 1:31am Jan 29, 2016 1:31am
So, January 2016 is almost behind us : Harold has showed us the way, knocking it out of the park. Possibly one of your best months ever, H ?

Mine was less successful, although positive, with more changes & experimentation than I originally foresaw : the tendency to keep tweaking is so strong, partly because I actually enjoy it. However, February is for FOCUS :

Follow One Course Until Successful.

My variation of this method is very methodical; my personal challenge is not to miss set ups, especially on those days where the first hour is sideways and my attention drifts... then a perfect, no-heat trade occurs and I've missed it... I've realised that an important component for me is to allow myself to STOP trading for the session if two winners have occurred - even if I missed them, ie. I would have stopped had I two full winners in the bag.

In addition to the European morning, I will sometimes trade the early NY session (this depends primarily on my daughter's every-changing school timetable, as we live out in the sticks and I pick her up from the station during winter). Primary instruments remain FDXM (EU morning only) & YM, although the NQ is now up alongside ES in the "observation chamber". The NQ range is often 25% greater than YM, which is staggering in these volatile times. I continue to compare the volume & range of FDXM > YM > NQ during the EU session.

Well, I'v said all the above many times before, just a bit of self-reinforcement ! Thanks to all who post charts here - I find it really helpful to see the charts of others, although personally I greatly prefer it when people leave their trade markers on (so others can see the exact, filled entry & exit prices) and are also not afraid to show their losing trades (we all have them, right, and often they teach us more than the winners, which we all love to post !?). Lastly, I really take heed of what H posted yesterday about finding and maintaining a low-stress approach to the trading day.

Onwards & upwards...
  • #9,816
  • Edited 2:36am Jan 29, 2016 2:25am | Edited 2:36am
Quoting Divergence
JT would I just triple the setting on the macd to accomplish that?
34 / 89 / 13 is very close (but you'd need to try on SC)
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  • #9,817
  • Jan 29, 2016 3:48am Jan 29, 2016 3:48am
Quoting jtrade
I continue to compare the volume & range of FDXM > YM > NQ during the EU session. .
From LO to 10.30 local, ie. first 90 mins.

Volume during this 90 min period + range in ticks x tick value = $ value of range for "nearest equivalent" contract qty (eg. 2 YM for 1 ES) :

ES 53,046 43 x $12.50 x 1 = $537.50
YM 10,779 90 x $5.00 x 2 = $900.00
NQ 9,068 97 x $5.00 x 2 = $970.00
FDXM 3,755 83 x e5.00 x 2 = e830.00

I would say that this morning was both lower volume and less range than usual for the FDXM, but still it causes me to reconsider my instrument selection. I will study more over the weekend.

I should add that this morning, the two ES setups were by far the clearest (to my eyes) & simplest to trade.

Lastly, I have a lot of "other business" happening next week, so will be mostly absent from this thread (although I hope to trade at least one session per day).
  • #9,818
  • Jan 29, 2016 4:04am Jan 29, 2016 4:04am
Quoting Divergence
I am more of a bass boat kind of guy cable guy {image}

I would settle for that right now?! Is it you in the pic?!
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  • #9,819
  • Jan 29, 2016 4:05am Jan 29, 2016 4:05am
Quoting tdforex
Over here we fish through ice on winter. Equipments costs less than 100 dollars {image}

I'm with you there TD, i'm back in UK right now, but the lad's all do this during winter in Ukraine! I am more of a boat fisherman, i must admit!
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  • #9,820
  • Jan 29, 2016 4:08am Jan 29, 2016 4:08am
Quoting jtrade
... & here I am (btw, CG, I see you've already got your blonde on board ...) : {image}

Haha, yeh, quite why she is up on deck, i do not know, there is food and stuffs to be made in the galley!

(which isn't actually that bad a place to be!)

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