self coach trading - Psychology and Money Management | futures io social day trading
futures io futures trading


self coach trading
Updated: Views / Replies:30,728 / 447
Created: by alejo Attachments:327

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 327  
 
Thread Tools Search this Thread
 

self coach trading

  #121 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

5feb and 6 feb

i put in trouble again, let the open pos get big lose and hold, and on 6 i start trading without journaling 5 , and i stat trading bad and as a crazy, i got the 46 long but instead holding and presing, i cut winners and scalp a lot , and worse, at close i lost all the win day and more.
now i am journaling 5 and 6 and see the result but i see the opportunities in the market, for example, long 3 lot 46 ,a dn hold for 30 p ,+4500$, but i realize that is impossible to get that for me, and on top of that hold losses not help, and the combi with 10lot is not usefull because i not use that riski , and then i can not get profit.

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #122 (permalink)
Elite Member
Hong Kong
 
Futures Experience: Intermediate
Platform: NinjaTrader, TWS
Broker/Data: IB/Kinetick
Favorite Futures: ES
 
Posts: 233 since Jan 2012
Thanks: 130 given, 306 received


alejo View Post
i put in trouble again, let the open pos get big lose and hold, ... ...

Hi Alejo,

You keep going for low probability outcomes and suffering high probability losses by hanging on.

If you are a day trader, close all trades before you are finished for the day. Never leave trades to fate.

One of my favorite trading quotes that may help you is from Albert Einstein. I have this picture framed in front of me as a constant reminder:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Richard
Hong Kong
Reply With Quote
The following user says Thank You to RichardHK for this post:
 
  #123 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

let open positions



RichardHK View Post
Hi Alejo,

You keep going for low probability outcomes and suffering high probability losses by hanging on.

If you are a day trader, close all trades before you are finished for the day. Never leave trades to fate.

One of my favorite trading quotes that may help you is from Albert Einstein. I have this picture framed in front of me as a constant reminder:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Thanks Richard for your comments,
i think if the low probability outcome are bigger enough to recover the high prob losses could be ok, no?
i have my doubts about defining my self as a daytrader, also it looks more difficult and more risky than swing trading.
Also i am trying to learn to daytrade, and probably you re right that is better to close it and sleep calm and relax.
for example yesterday i try to fade the uptrend, unsucessfully, in each resistence, now were 94 and the next 806, i think from the perspective of the sellof of the previous days, this could be a 50%retracement adn sell 93 , could be a good short trade, and i do it and i let it open, but i think ,what to wait for the opening on sunday, maybe gapaup 10 points, to short.
i do not know yet , something to say, i do this and is ok, i am finding my way ,and i found that ,is not the trade idea the main issue, yesterday i went long 1764 , but i could not hold it to 94,
instead i took minor winners ,7 points in this case, and i spend all the day making stupids counter trades....insterad to let run profit, i am fighting against myself with the managing the trades
for example i know to exit if pass 81(i short), but i hesitate, and i exit later.
i am not able to benefit from the moves on the markets, its true the opposite.
if i go for littles targets, then i say, o i lost this
if i go for bigger targets, if come back, i lost this
if i SO, i say o i lost this
if I SI i say i, i lost this
If I sout i say i lost his
If i av,down, i say oh, i lost this
almost all entries could be some winners of one type or other, but in the same time, allmost all entries could be a loser.
the timing is difficult when to do the things.

thanks again

alejo

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #124 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

trades7 feb and how greed work

i was working in the morning , and come quick to see the news nfp.
i have 2 open long posiitons in ZN +3 in S5, and +1 in TS, both loser
i know the news could dramatically move anyway
i decide to close when it go up in the previsible shakeout.
i down almost $2000, release the news, down, up, spike up, at close at amrkets when almost reach break even,
in that moment, i was tempted to let it run more, because now i was green and i think maybe contuinue up, but i have the experiencies of this spike up, could becopme sudenly spypedown again, and i hoe to exit and close this 2 pos.
exit at market and i got benefit of +slipagge.
i content the greed, becasue was overtake for the fear of the last days.
when i see the account summary +2500
i see positive inS5, was a winner..and a little lose in TS
i think, uah, better i do nothing today, close the pc, i was lucky
instead of that, i see Es up/down, and i made an excellent trade +2@64, but i close at 71, instead of hold(i was starting well 10 days ago, with a mindset (risk seeking in winners)to let running the winner but i am not doing anymore now, fear of disappointment, and accept an unfavorable settlement, risk averse)
mow i see+3200, and there start teh problem
the greed take control... and i finish the day negative, counter trend, more size...
i become a green day to near of the loss limit day..
that s hurt, why happen this?greed, uncontrol, try to recoup losses with badtrades, 1 specially bad, average down 2 times and not respect the exit point.
3 days losing in a row, is a strong signal to stop, calm down, review, re read, and avoid to continue digging in the hole
i am near the max DD.
i need to check the journal, but avoid count trend, , could be a healthy rule to add, +focus on not let become in a big loser, and focus in a main trade idea with risk seeking on the winners

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #125 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

analysis of my real data cash

i have done a study of almost 100 trades to compare what exit strategy is better , and surprisingly i found that 8tick stop loss with 6 tick target was the best using my real cash sample, i am surprise but i believe in the result , also i was trying to cath more than 3 points, or i have get some bigs , but overall, the statistic win, and my result live were under water,
maybe if i get better in entries, i can try to let some runner to improve this result, but ,first i need to get this results, and and later improve them.
then i have a frame to focus on set and not move the stop, accept the 8 ticks loss, because i know, it will work, and not get greedy because the stats show me that a lot of trades come back quickly.
Of course , that is not meaning in any place, no, i need to take care of select low risk places,
the main issue , 8 big losses/83trades 10%, will disapair with 8 tick stop (if i let it there)
first test this, then think how to improve it to cath the runners, i was near several times but i close it before....
1 good runner =100 trades, but i can let that study for the next stage
if i can get the same results of my analysis i will be happy.

i have the combi test almost near be halted, the max DD that i have available is $500, then i can use it for this test
starting with 1 lot max loser in a row 5 risk $100 max dd $500, ...
i can increase 1 lot with each +$1000

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #126 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

I did not remember that i have written

the idea was good, but the reality was other thing, first, i am writing now the journal of 10/11/12 togueter,and then i lost completely focus on goals and results, second, i was working, adn i was feeling ill, and trade the same, yesterday i trade chasing, over trade, more size, most things bad, and all this happen with es, i am questioning why continue with es, if the results are showme that keep trying problems, now i am more closer to thye max dd limit, almost no margin for error.That is not good.But yesterday i lost a lot with 3lot trades, out of plan.
In the other hand, the zn trades continue going well, only a few trades, no high speed, and better result, it looks theres more possibilities in esm but the results show the opposite.
also yesterday continue watching a panle with 5 markets and i want to trade when some opportunities appears(i catch a nice one on cl)but all this stuff i am doing , is taking out of track and out of stable environment to learn.
Also the other problem is i spend all the tiem in front of screen ,to try to get trades, and i think with zn i did not do that.
I think could be better to take free a couple of days and get cooled, before to digging more deep

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #127 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

scoring of trades

i have finished the journaling from 10 to 12, and i see
zn 46 trades exp +1.64 scoring 6.8 & 4 BL
ES 109 trades -0.37 scoring 6.1 but the last ones are nearer 1 to 3 &10 big losses
i am struggling with es and it looks i like to struggle with it,
the history has changed dramatically from23/jan/14 to 12/feb/14, in confidence, results,
yesterday was the worse day, i have destroyed my cushion from the bottom of max dd, i did not use the target, i could not be able to trail the mfe
i was frustrated, when i lost the chance to get the runner, adn impatient, chasing in the middle.
A behavior totally different from the slow pace of zn
i am attracted for this es?why? because the analysis of FT71, but i am not apllying the same concepts that zn waiting for the broders
also i have the conclusion to go for +6, for better result according the study of the sample but i did not.
I am put pressure down there bottoming the max DD.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #128 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

only $248 to halt the test

it looks like i finishing this
i will try
1 lot closing quick to exit asap from this area
1 lot..1lot ...1 lot...repeat 100 times

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #129 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

BEHAVIOR 13FEB

today was a critic day in terms of max dd, i made a couple of trades with fear and i want to close it quick, i took, 6 tick and out, i lost the chance to buy at 06, also with zn, i have a a setup , and i close for +1 after come back from+3
is almost impossible to trade in this way
in the close i short es and i see big selling and i let it open and i close in the morning, for 5 points

i made a trade on ts without pressure for 6 points.and continue gringding up this acount

today i have a lttle bit more cushion to exit from this bottom and see if i can take more risk again

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote
 
  #130 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

14feb behavior


another day fighting for littles winners and cut for little losers, i need target to avoid to come back the profit, and close quicker the losers, but anyway all LL o LW, a little bit up, more away from bottom.
I find for opportunities in ts and i trade cl ,a couple of trades, the main idea was correct, but i give up 50% of profit, it look like the other day with gold, the idea was good, but i miss it.
in es, it was a good dea but i exit quick, instead of let it run.
at the end of day i made 2 shorts es, nq for the idea to fade before the upmove.
i am exploring this things while i am working with the main combi, i am not sure if the power of distracting me is most than the wider vision and more practice.
i am improving in the scores of the trades, and focus on avoid BL.
this week i have only 2 big losses of 12tick in es.
for the next , i need to go to 0 bl

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
Reply With Quote

Reply



futures io > > > self coach trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gary Dayton Trading Coach (www.tradingpsychologyedge.com) Big Mike Trading Reviews and Vendors 4 December 17th, 2014 10:33 AM
The Daily Trading Coach by Brett Steenbarger Big Mike Psychology and Money Management 29 October 3rd, 2012 05:39 AM
Your Trading Coach panama Trading Reviews and Vendors 3 July 7th, 2012 11:30 PM
Need a Programming coach for a project... Mojokix NinjaTrader Programming 3 January 20th, 2011 04:17 AM
Looking for a coach ealas Beginners and Introductions 12 October 1st, 2010 09:12 AM


All times are GMT -4. The time now is 08:38 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-13 in 0.16 seconds with 20 queries on phoenix via your IP 54.160.245.121