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self coach trading

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  #101 (permalink)
 alejo 
madrid spain
 
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i was re reading the journal and i find :
-i was learning read dom & focus on zn
-i stop looking for new things
-i started fading the ranges with 3sl /big targets +6/+8 and work well, except for the big execution mistake big losses&countertrend
-i start to exit from lossers quickly and the consistency go up
-something happen & i realized that theres a lot mfe+1 , mfe+2, then i have tried to catch them(+1,+2) with more lots &scale out(3lotstartegy,3ls)
-i tested also another strategy with 4 lots for try to catch +1,+2,+3(4ls)
-i was very excited and happy and on top of my trading career when i the 3lotstrategy, a scalpng strategy that works on sim (this was my clear &straight execution i was comfortble)
-Never i tested 3ls cash for enough time (although i wire the money to do it and lost the half), because the doubt take over about the bad fillings
-when i try to reproduce some parts live, i fail ,supposedly, for the fillings, and stop trying this with assumption it will fail
-i start to hesitating & i re start to make new researchs&read threads
-jump to big stop loss 5 6 1 "big" target 4
-in the middle made same random cash test (thinking i can make money), all fails, i find:
-i move stops
-i hope
-i do anything different
-i repeat some test to training to not move the stops
-i continue make some trades hoping for recover&taking more risk&let it open

in the meantime , i increase my confusion, and after the failed 3ls, i get stucked in the last 2 monthes

-i think the 5sl is not better than 3sl , because when lost lost more, and almost lost the same, when go bad, go bad, better to close it quickly

-i am watching for bigger moves, but i am do not know how to catch them

-i started to record to review the turning points in dom
-i will focus on finish the test of 4 target/5 sl of 100 trades samples
-i tighs the rules
-i am reviewing the journal more often

-i will take a tst combine instead of test with cash to simulate real environment as suggested @bobwest
also i am thinking to test again the 3ls

-it is difficult to stop or reduce all the external things that it looks like i have to do it( videos, commnets, threads, methods, analisys, books, material,etc),

-it is hard to see what the market does and accept i can not participate and not take advantage of that, that motivates, the idea ta take a position based on weekly and hold it for year, and i have better possibilities than daytrade i think (based on my experiencies to start with es =1360-1260-1800, or zb 155, or 6e 1.23 1.37 or gc 1800-1200...)
this is an illusion that it is easy

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #102 (permalink)
 alejo 
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xelaar View Post
@alejo, we all have been there, don't beat yourself. I certainly was. Just find out why you are doing it, look for the root of the problem, trying to win it back with one trade is just a result of the problem, not the root of it.

i get angry, i do not want lost, and i go for it, revenge, thinking , yes, now ...i do that
but mkt show me, no,no

La lucha es de igual a igual contra uno mismo
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  #103 (permalink)
 xelaar 
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alejo View Post
i get angry, i do not want lost, and i go for it, revenge, thinking , yes, now ...i do that
but mkt show me, no,no

Not just that, look further into your trading plan. I had same temptations, I knew it will come again and again to me if I have several losses I will want to fix them all with one win. The only solution for me that worked really was to trade less. Now I have only 2 trades a day and I dont manage trades, in most cases, still not perfect at following the plan but much better now. As a result I dont have a chance for a revenge trade.

Trade to live. Not live to trade.
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  #104 (permalink)
 alejo 
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i start recording the whole session ,i split in 10hs each, and i am planning to go to the turning points and replay to try to study the dom for patterns, that i know , but i am not know the differences between the high and low probabilistic yet, also the fading ranges , with trend or against it

yesterday i was watching the ft71 webinar , and he says the importance to setting goals for 2014, and also that "is not possible to trade from your living room"..glup, i am doing that

goal for 2014
to have an expectancy of $5/per lot scalping zn (but ,i am reading a lot about warning and avoid to scalp)

goal for 6 month
pass the combine
reduce the mistakes to 2 per month
learn market profile

goals for the next 3 month:
to set an independent office to trade out of my house
to learn an edge

goal for 1 month
finish the 100 trades test
follow the trading plan

i was reading a paper and a a book that @tigertrader recommend on the @PandaWarrior thread about think slow/ fast speed , it is fantastic to understand how the mind works

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #105 (permalink)
 alejo 
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today i was editing and reviewing the last days, i cut and paste the turns, b/o, pullbacks, and i planning to create the videos but they consume a lot of time to rendering, then i will choose some of them and i upload here, the shorters
maybe if i replay i can learn a pattern easily , and also i can write down how many fade work and how many failed, and also ,maybe i can realized what faild or success according to the kind of day, to avoid the stay in front of a train

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #106 (permalink)
 alejo 
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the mkt looks so random, and with the moves like the friday, i was wondering how and if it is possible to beat the buy and hold, how many moves we need to equal the position move.
Also on my test ,again i falling on the same discover, it looks like the only way to take advantage is to take quick profits and exit quickly if it not reach them
most of the moves happen that kind of thing
to wait the big move, i think ,o with other lot to bet that ,or try and scracth.

on the other hand, i am thinking about that ,maybe is impossible to me to become in a consistent winner (day trading), i read a paper from korea, and it seems only 1% earn in that way, 20% do not cover cost and the other pay to 1%guys

and i think the most sites, vendors, brokers, etc, do not explain well the lower possibility, size of this endeavor, only showing that somebody can win$, then ...i think ..if he can ..i can ...too

If i have had this mindset ,on april 2012...maybe i was avoided to lost a lot of money.
I fall on the overconfident of new trader...
more and more ,i see how hard it is
also i think again in do the opposite, it is so easy lose tons of money, and if the possiblity is only up/down, maybe could work, only i need somebody that take my other side with my money and i entry with sim...but if i know somebody is taking the other side, my mind reverse the trades...

no short cuts, i will continue , working, and trying to learn, but looks crazy , doing something, that i do not know, trying..error.
testing, trying

day trading is this crazyness or maybe swing trading not?

on the book of thinking, fast ans slow, i am learning the amount of things that can affect my decisions and i am not aware of that

on the trade4 of today, i t was a loser but i let it work when i was at the doctor, and the thoughts were very differents when i am at the screen

the trade2 i twist because i was in front

how many will be better?let it alone? or twisted?

the good thing is i am restraining the big loses
but the goal is?

to be continue

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #107 (permalink)
 alejo 
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i think if i have used half of this almost 2 years ,reviewing what have done, i would be undeerstanding more, now i think the time i am trading i am losing time to learn
I used to feel , how can i learn if i stared 15hs at screen, and the other day the same, thinking , i can see and trade ,it is easy, look how i can get 4000 here, or 9000 there, or....but on the long run, my negative expectancy appear and put me underwater.
With the study of my videos and the new rate of the trades, i try to discover something, what i did well, what i did bad, how can i improve it, if i find something more interesting, repeatable, patterns, on dom, S/R, trend or CT, it is a bloody job, also i do not have to save one movie, and i need to edit, and watch and review the previous, but this is interesting concordance with the book i am reading think fast think slow, explain our mind as 2 system system1(unconscious reaction) and system 2 (concious and effort) work, andhow ,if try to force system 2 , system 1 can be deactivated, or slowdown
i think the key is dont pre attentiopn to system1 (unless in my begginer stage of learning process), and force to focus, and try to find something to fit with me
the message of system1 push up automatically and suggest something to system2 ,a and system 2 build around of this the whole real/irreal story
the key is say, wait sytem1!is it true, training 1 is possible for syst2
specially needed for cash live i think
but i need to practice and practice and learn and believe a path, but i need to find them
now i am looking around of my work, handycraft, discarding things, and trying things, around the almost the same, the line is thin between the right/wrong, as i realize yesterday, 2 trades ,1tick difference entry, two opposite outcomes.
but anyway, the main problem is thinking in the long run, then io need 100 sample
and the system 1 manage very bad the probabilistic approach, then the automatic, response from system1 give me a wrong guidance.
all this stuff, maybe, is the explanation for 99% inconsistences traders
then i am going to trainning system2 for logic,and avoid message from system1
easy to say..but unless is an idea

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #108 (permalink)
 alejo 
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i have setup finally the SC/TTNET, running on a server , i will use SC on TopStep, I am start to test the dom SC, and i like it, is like DOS against windows ,but looks quick, and sim is not like TS, to fill you need to pass though.
S4 strategy is more risky because the 5 sl than 3ls, also the targets are biggers and has one big 8 or trail for runner
the entry are similar to the ts 4/5, but the money management with 3 lots i think it is much better, i feel similar to the 3lotstrat,( that failed live), try for 100 trades, and extracts results after that.
now i am wirting down a lot of info to study later, about the trend, main trend, last trend, kind of trade, fade range, pullback, counter trend, quick close, become a loser, mfemax, and i hope to extract usefull info, and compare with the 4t , equiv to aiao, but there s a lot of moves less than 4tick, most of them, that i can get with this ,i think,

also ,i extract the same info from my videos than i am recording from almost 20 hs, watching, later, editing the turns, see the dom, for failed b/o, good fades, to see if i can realize ,what is better.

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #109 (permalink)
 alejo 
madrid spain
 
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today i did not trade, went to doctor and i stay with my 16yrs boy
but i was watching the daily and i am planning to make a trade a swing/or position and compares with the result of daytrading,short term
and also while i am learning ,i have an investmentment on, and no think i am losing money with the missing move
the initial idea was not to stay all the time watching that position,

La lucha es de igual a igual contra uno mismo
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  #110 (permalink)
 alejo 
madrid spain
 
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i do not know why i am feeling better when i have a position on the market, but i was reading and reviewing videos with the PC shutdown, maybe because it is not underwater.
in one side, the higher times frames looks more calm , and the big moves look nicers, also i thought, with position on one account , i can day trade like hedge in other, i never i lost the move if it continue up, crazy, but when i compare the price i bought and sold 2012...buy and hold is difficult to beat

On the other hand i have lost a lot of trades that look like it break, but, this is the first well analyzed, weekly, range, trends, S/R,...
I am waiting to B/o 20 and up...to wait something is a bad sign

I was reading the think fast &slow recommended by @tigertrader and it is fantastic, i have learn why i have the tendency with the losers, move stops, hold losers and so on, take wrong decision in trade environment
Now, i know the process ,I need to wait to feel that impulse(System1 is not possible to turn off) , and try to think, reason and change the impulsive decision,(System 2 train to system1 and not be lazy and think)
it explain how we change from fear of disapointemt/risk averse /acep unfavorable settlement to risk seeking/hope to avoid loss/reject favorable settlement,
Also it is interesting how distort the probabilistic measures, for example real10% we see 20%, real 90% lose we see71%
overestimates, biases opinion, and so on

I was reviewing the videos i record and i replay seeking for different setups, write down on the excell, with mfe, and 2 different trend condition:
main trend (15r)(MT), and the last trend(LT), and i have analised the %, mfe, and make a table with different varaibles:
Trend Trade, Counter trend, (refer to the last trend), fade range, break out, pull backs
watching the dom and the trends.
finally i select only 4 setupsdiscarding 6setups with bad results)

fade range with trend MT=LT (Setup A) the best

B setups

fade range with trend MT<>LT
fade range counter trade MT=LT
pullback with trend MT=LT

and select the t1,t2,t3 according the % of mfe, for each setup

FINAL 4 SETUP

setup 3 WITH MAIN TREND =LAST TREND TARGET1 TARGET2 TARGET3
1 6 A FADE RANGE WITH TREND 4 6 10
2 5 B PULLBACK WITH TREND 2 4 6
3 4 B FADE RANGE COUNTER TREND 3 5 7

1 WITH MAIN TREND <>LAST TREND
TARGET1 TARGET2 TARGET3
4 3 B Fade range with trend 3 5 7

now i will go to review the trades i took to compare thye results with this setups

and the plan is try only that setups, and measures the results

the risk reword:

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  #111 (permalink)
 alejo 
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it was true ,when it was taking heating it was dificult to say, it is a long position, or why not exit if it goes bad, then i spend some time on thinking on that ,that is not the idea
and today i was made my first trade on s5 , i am planning to hold a short on this supposed top, the main idea is be risk seeking in a winner position, because the natura tendency is to take profit to relief the fear of dissapointment

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  #112 (permalink)
 alejo 
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while i was holding the zn ,working bad
but the es what happen was, i let on the table +1000 because comes all the way up, and the risk to a possible b/o to new highs is high%, then i close it for a little win, and i staret making daytrades with es cash, out of plan
really i want to go live, i was calm and comfortable, i trade like in sim, could think and decide very cold, that was good
i was hearing and reading FT71 on S5 , i think the lessons of MP could be usefull for any market(i do not), he only speaks for ES
now i am testing the holding in zn, i would like to hold a short on es well in the money, but maybe it made new highs, and it is better to hold long
why i want to hold long term?, because i think is the only way to not lose the big move, but in the other hand, i do not want to come back agains me, maybe it is imposible
ANd i want to compare the two options, daytrade and hold more time, the problem is the risky entry, if i am entry with low risk, it is dificult to hold the long move,
maybe a combination?long position and hedge for short term?
I have started to trade on S5 live, i i was feeling fantastic, i started with the idea to hold a short position n es to not lose the change in case to go down, but finally i made some trades..i am repeating this..
I am testing 2 strategy, in TS and SC , both sim and try to extract conclusions, alos i have found the A star setup (i need to validate and review again the videos to check it)
and compare the different targets, so and aiao, it looks if i go only for 3 tick could be better, but miss the moves...again
i continue recording all the days, and analizing the videos FastF to learn how can i do this
the MP lesson from ft71 are pending yet, also the book of MP...
the videos from bsdt to review the same
i am finishing the think fast think slow, i thinh help me a lot
and my next book will be swan black or something like that ,i am hearing about it for a lot of places

well now are the 1500 and the news are very good, finally appear a spike big big never seen before and now i am holding a winner... i will be risk seeking now, for a big winner

i continue doing very well in stage 5 live
really i do not undersand how is possible
but it is
maybe i need to wait for the statistic to work

La lucha es de igual a igual contra uno mismo
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  #113 (permalink)
 alejo 
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I was thinking how start the process, and i think i am not sure was in this way:
1)my plan was not trade on friday, i take time for my kids, for study,
2)in the s5 account i was up 1500 in 2 days
3)i saw the market zn go up crazy and i say, i can t lose this
4)i was thinking , now i have the knowledge to do it, look what i have done with es,zn in s5 live
5)i started to trade ,and win
6)i think what if i increase my risk? 5l , 10 l (i know is crazy increase the risk, but i said, i was having nice winers...i know with more risk ,more psych problem can appear, but i was greed to earn more, and earn quick, and think, i can do it, i forget all th times i have daone similar things, but now i was thinking, o now is diferent, i can reqad the market, i can hold the winner, i can close the loser))
7)i trade 5 lot and win
8i build a position way up adding in up to 6 lots
9) i am watching the top action and then i short 10lot
10)win again, but i was scaed now and i am take 5 lot out quick (i am up +2000 on a day)
11)when i think this is strong up and can reverse in any moment.. and close 5&reverse5
12 continue down
13 i am not close it knowing i have to do it
14 wait
15 i see Sup and add to the loser 5 more
16 continue down
17 i hold the loser
18 down ,up, it give 3 chances to scracht, but in the moment when i can do it, i think, now go up, iand i lose the chance to get this 10 lot up, .....all down again,
19 several times , now i am realizing that i am risking too much & i am holding a loser, but i can not take it the lose
20 i lost all day with this bs...i only focus on this, and
i am down now -3500 (the 1500 of 2 days and the 2000 of today)
i could not think in other thing
i was not available to trade the ES down -42, because i am working /worried in this bs
i was blocking
i was thinking the real possibility to blown the account again
i was thinking how fast the things can change
when i was watching MFE-200, i think ,oh, the expec, now is going to the she..
but with all that things, i am thinking ,unless i am with the trend up, in any moment can have a push up
go 125, if go down i need to close it, bounce, up, not scarcth again, down again, 125, oh now double bottom, bounce
21 i have money only for 5 lot , then i need to close yes or yes 5 lot before the close
22 i went to the doctor, call my daugher 2 times to ask the price....
23 stared again and semiu -paralyzed
24 i go to pick my kid and again waiting,
25 all times without hard stop, i set a target this time to exit but when i out of screen the risk of blown up is real
26 bounce a little bit and i exit 5 lot for loss aprox -1700
27 continue holding 5 lot and i let it open (av.125.10.0, close 125.07.5),
28 i am holding the swing on ts, long, then i now i am holding too much because 2 acount long
29 the possibility for a blown continue because is without stop, according to some charts it looks break tl up, but it looks also bouncing on the upper TL, and if this happens, we can point down...
30 i saw the p/l and i see maybe i can stay in the starting 10000 of 3 days ago...then the damage is not hard, but thinking that i have 13500 and if it i hold the short 10l from 14.5 to 125.00 represente another 4500. i get impressed with that possibility (i want to recover...all my losses/tuition, asap)
but with this levels of risk , it has 0 value , because i can back everything a second

what i have learn?
the risk of myself at work.

the huge different sim test-live

i can read and trade well the first 2 days, but when overconfidence take over , and the decision process get emotional....kill myself

over risk accelerate the process

but all this stuff i know before...

in the first 2 days with s5, why i trade well? the difference i see is the dom only show price, and i can not see the p/l and results, maybe, that way let me trade without thinking in p/l

yesterday i only think p/L with high risk


when i think in the TST combine rules, imaging, if i went from 10000 to 11500, i can not have a draw down from there, and less from 13500...i lost completely the head

Original Plan

i remember the original plan, while i was learniong and practicing, i put an short position in es
-1841
but for the reasons i explain the day 2...finaly i not holding , start to daytrade, i hold long1818, reach 1827, i pull the target, and all way down i stop out, i i lost the sight because the zn problem)

more suffer from this -3500!!

well what was wrong?
1)increse to 5 and to 10
2)not exit quick
3)hold the loser
4)average down
5)hold the loser
6)not stop with +2000
7)trade when i say i will not trade
8)pull the target
9)not to close and become loser
10)not hold the short as i saying

and for what i am doing all the test in sims?and the bloody rules if i act so different live?
when i compare the result of that 2 days in s5 cash, i realize that are more better than the sim plans...but i do not repeat yesterday behaviors.

but the rules i would need to build based on the live beahvior...or not?
what a scramble

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #114 (permalink)
 alejo 
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well, i have heavy bag on, i continue carryieng the losing position with 5long zn, yesterday was near ,and close it to exit with -400, but i let it again all way back down, evidently i lost a lot of opportunities while i am ficghting with this losing position, when go up, i think, yes now it will continue higher...also it is extremely opposited related today to es, es pop up, again go down, es go down, now pop up.
it looks a nice bullflag, but continue down meanwhile.
the swing got down again, in this case i set stop to b/e, bue anyway , to lose 1000 is to lose 1000
and also the lost of opportuniti to trade fresh ideas

whit this baggage, i made trades again in s5, and surprisely ,again, was ok, i am re discovering the es, because i remember was a kbadiller for me, but, i reading well the trend, the pullbacks and the reversal, also i took too much risk in the last trade.(i using only 5min naked chart, 2000 ticks as welly92, nor jigsaw for es, because i have set up for zn)

i am in trouble, and this night i set up a stop in the +5lots, yesterday i did not want to close it at 125000 and this morning it is trading 124.21.0,

when i see the balance acountt to the starting account ,i think, i close now , and i restarted as if nothing happen, but....then i think, what s a pitty, if i can exit at b/e , i can be up nicely this days....

or better, if spikre to 126... ohh, very good,

but all those things are imaginations...not trade

if i want to trade i need to avaoid thats

i promise to me, i close this and this is the last...
tomorrow, i trade different
all this risk it does not make sense

if i got stop out, bad
ig spike up, bad, because next time i see it happen




i think if i exit, i clear the mind and i continue trading

but if better with a less loss as possible

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 alejo 
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i an reviewing my journal and i see i am writing about live trades but this was what happens

i was testing a strategy in SC,last trade 27 ene i write the performance on the journal
and was testing live other more long term in TS, since 27/12
also i do not want to lose the opportunity the bearish appearence in ES and took a short 1841 on s5 acccount on 23 january, and that day started the live test trading again,(i found that i feel the same than in SIM, maybe because on s5 i could not see the P/L, and i can read well the market, and execute without hesistation, surprise myself and decide to continue, live) not only i have started to daytrade ZN, I have re-started to trade ES,? (at first was a test, but I see more and more usefull the overall analisys that ft71 do every day, and how this market works correlated with zn.
Then i officially start a test cash , inmediatly i fall down again with my main issue with the biglosses, live, and i want to overcome this, then continue live to learn to avoid this.(because the main issue appear in live)
I found that ES is more dinamic, and easy to overtrade, I apply to ES the same concepts that zn, fade ranges, pullback, bo, in ES i try to ride adding, i give a punctuation to each trade, according the execution errors( noplan, become a loser, quick close,big lose, let open, and in what context (ct, tt,main trend, last trend, i did, i have an equivalent of 100k and i have set the limits to the downside as a TST 100k combine test,maxDD 3000, daily loss 2000, focus on risk, not big loses, and risk seeking in winners, and let see what happen
i write the performance cash on the journal, on the first week, i made 2 /3 big mistakes big losses and i paid for that, i need to manage that mainly.
i receive a nice feedback on my calls on s5chat , but i destroyed overall with 1/2 big losses. (specially, when i try to stay on the trade more than 1 day, more risk)

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 alejo 
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after the bad week, with the big losses and the bad managed trades, i started the day under the water ,
i was thinking beteween not trade today and cool down , but i think ,maybe today is a big sell off...
this morning instead of study and analisys the videos i started to got chopped with es, instead of stop i continue to trying to recoup.
i need several hits to stop and wait the open.
really too much time on screen is not good.
i need time to practice, studying and reviewing

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 alejo 
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the incidence of the big losses is terrible, i try to reduce to 1 per week /4 per month in february
BL>16 es & >6 ZN, but really tghe killers were -132, -65 zn ,and ,-60-40-23 in ES
the second think is not allow to become in a loser, zn 12 in-9, an 50 in -6 in ES
Equity 100563.47 Max DD now is 2063 Win Days%55.6 net exp$12.36

ES after 44 trades : Av Win13.9 Av Loss 9.64 Ratio w/l 1.44 %win 57% exp 3.25 trade score average 6.79
ZN after 17trades : Av Win15.45 Av Loss 44.6 Ratio w/l 0.34 %win 71% exp -2.1 trade score average 6.94

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 RichardHK 
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... ...i need time to practice, studying and reviewing

Alejo,

Did you ever finish that Brett Steenbarger book? Maybe not? You seem to be far too impatient. Stick with 1 or 2 contracts until you are winning for at least a month - not load up as soon as one or two trades are got! and best not to jump around from market to market until you are really good at one of them.

And allow for the randomness of all this. Even a great trade can be a random event, so do not put too much emphasis on any trade. Consistency is king.

I hope this journal is helping you. Certainly helps to document your experience.
Wishing you well.

Richard
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 alejo 
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i continue trading cash, and the things looks good, i can trade similar to sim, i am very focus, and i journaling with a lot of details and scoring the trades according differents parameters, and give an evaluation, i am counting, if they re LL,LW,BL,BW (little or big loss orwin), and the main task is avoid the big loss,
yesterday i was temted to move the stop o the first 2 es trades but i accept the 8 tick loss, breathing and selfcontroling, (better because the y were long...)
i ma running a test combi, with similar parameters of combine 100k, to provide me a hard frame, it looks like the things are better in zn, tha es(i encounter it too electric, and crazy)
i am find fresh air when i realized that i can do it, but i know it is an illusion, because 1 big loss and boom!
also i am jornaling the differents setups to later i got the results, if the are difference beteween them, the same with the aiao, so, si.
i was thinking in my bearish position thta i started in s5 short1841, and it is very difficult to compete with that 1lot, daytrading, or the 200 ticks range from yesteraday
i close the 31jan, -1773, and that s all i need to get the 40points...
daytrading ,maybe2 lot shorts and 1 let all the time run, and the other out and in in all the way down....but online, i was short, then i say, now turn...not 4 push...and continue...and continue..
the losers yesterday were the counter trade, ...
how you can get and ride that down trend?
maybe that is not the question.
how can continue extracting 800 everyday?maybe it is

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 alejo 
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i trade well in 2 trades, another up day
managing them, i continue short bias, and then a position-2 44, i hold with target 33,20, large mae 53 , i am thinking a way to catch the move down, this morning i see bouncing 37 ad grinding up, and i do not close or take profit, i say, it will go down, later with some smack down, but, what if this is the start to a bounce to 1900?, i am doing relatively well little bit to little bit, but i want more, then i take more risk, and the possibility to big loss appear, it look more probable to continue down, but it is not better to take the profit?, this morning i think, i so 1 lot, and then reenter, continue down, adn so on, but this is only possible if we go down.
it is very dificult to do the 2 things, swing and daytrade togueter, if i change my mind
the original pos is on, can i improve if i touch it?the real examples show me that not, in the other hand, building the account as i am doing, is compatible with this?

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 alejo 
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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.

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 RichardHK 
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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:


Richard
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 alejo 
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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:


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

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 alejo 
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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

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 alejo 
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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

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 alejo 
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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

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 alejo 
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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.




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 alejo 
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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

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 alejo 
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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

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 alejo 
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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

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 alejo 
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yesterday 18 feb, i started a strange behavior, i close the swing trade nq in TS, and start to make chasing trades, most of them bad, unless i close the losers...
Also in S5 it look like i forgot everything
i need to refocus, review the trades, the plan, the videos,

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 alejo 
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i hold a big loser with zn and let it open , this time with lucky because come back all the way to be, but instead of stop
i continue, and i put in another losing trade holding and not close it as a plan say

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 alejo 
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i forgot to trade only 1 lot, also i did not calculate the max dd foir the day, and i lost more than the plan, put a lot of pressure at near the max DD, with not room for next day
i am risking too much, i didn not respect risk, then boom,
in es i start to focus on take the 6 ticks as planned, but in the end, i let a loss go bigger, also av down, (finally i take 8 tick stop loss as planned)but with too much risk

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 alejo 
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i put a lot of effort and focus to wait for a setup, almost with out money to trade ($134)
take in es pullback ,take +6
but after that ,when i see es down and zn up, i decide to take +1tick 2tick and 3 tick out with 9 lot in zn, too much risk,
zn down, and i do not want to close it because it meadn the end of combi
i cancell the oco and wait,
i know i am risking more now, and i also i go to a meeting and let it alone the trade
i imagining zn go to 127 with 9 lots!!!
well i close for +4*9
and later i overtrade with es, (i forgot all tyhe focus of the first hour)
i add a new parameter for score the trades, risk respect,rr, it deduct 3 points
because it doesnot mak sense risk too much and get a tiny result, and also i can blownup
the question is , can i get a winner with risk respect?it is the only way to last i think

finally this week i made:
in ES
1 big loss
2 LL but with no risk respect

in ZN

2 BL big loss
2 LL but with no risk respect

then 6 high risk of loss trades

for the next week i want:
0 BL trades
1 LL with no respect

respect the profit
to take +6 in es
and to take +1 and +2 in zn

i need to go away from the bottom

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 alejo 
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i wait a lot for enter , i do not wanted stay in a hurry, or not focus, i do not have enough room to fail
i got 2 b/o winning trades in es, and 1 in zn that i have the first sccale out and then stop out, and later 2 trades with 2 scales done and the 3rd i close quick.
also i made a trade in nq and take some profit in ts.(first i think let it run for the infinitum.., but then i realized better to take some profit)
all trades were 100% risk respect ok
i think i was done for the day. later on the close i made this mistake:
i was waiting after the sellof a high close, when it seem to come , i long 1849.75, but start to fall, i move the stop under the support, instead of 8 tick stop loss, or better to close it , i realized that it looks like break down, instead of close and reverse or sell the break, i end holding this open los trade, the same with a long nq in ts, i was imagining thye all times high, instead of distribution of OTF, then again, i put the risk, or not respect the risk, and trough out my daily job. i got away $600 for my ma dd, and now i have the risk, also, i could not take the fresh opportunities that come.
why i did not take the loss?
first , i think, oh, 8 tick loss turn down my +12wining that i have,
thenj i realized that i did not think that 8 tick stop loss were not well located respect the price action, and then i re located, but now, i have 12 tick of sloss, then my reasoning were worst, "now i am giving back my 2 winning trades wel worked this morning..."
and then say, ok, i cancell the orders and hold for the ,"i think 100% prob that new highs are made?????"again the same bs.maybe can happen, but ths score of this trade is 0, put the risk, i set a stop 1828 under 1832, but is big risk for nothing.
with little risk, is possible to win?
with high risk is possible to get big loses
i do not know the result of this trade but this can kill me, for sure, then i need to avoid this, in hindsight, i would like to have 8 tick loss.instead of this situation

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 alejo 
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it look like i have the special mode that i bought top on the previous day 49.75 and average down buying bottom the other day 42.0, and exit sucesfully from this procedure, but what if i wait for the bottom of the net day and buy 2 and enjoy big winning?
also i can avoid the risk holding loser.
yesterday i save myself twice,after the rescue of the opentrade, later i bought another spike on top, 48.25and repeat the same scene at close av down at 41.50
both cases the same, i enter, i was wrong, i hold the loser, later i average down and fixed, but i lost teh chance to win, and hold risk, i fix the loser and finish +35

the same happen with an zn trade, start at 21 with 3lot for s out, and when go bad,reach 28 i cancell the orders and hold open...i wake up this morning, almost i close it for -5 but ..now i am waiting, this time i did not average, but if i did at 28 now this could be a winner

average is valid way to improve the entry?or is a crazy tool that increase risk?

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 alejo 
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near to reach 2 years trading
i was trading all february live and i use to do it, the fear has gone, i am running the combi test, and i am near the max dd in one account
i trading small to grind up, and then boom ,down again.
i am defending some positions average down and holding for a move of 10 point to recoup, and i was wondering why i could not hold directly moves of 10 points?
yesterday i was hold +3 almost 9points
i think i only need 1 move or two.
how can i get it? and more important how stay with the move?
yesteraday i was short -3@42 but i finish losing i did not hold for 1832.
in other account, on ts, i am practicing some opportunities trades, waiting for break outs, in cl, gc, nq, less trades, but better results.
on the other hand, es let me overtrades much more than zn, but look like theres more opportunities, but i did not get that moves.
if i compare the zn and es ,i can see i feed the broker with es
and i think the only way to get the target of+8500 is increasing the size, but each time i use big size, the risk , kill me when i try to addin to avoid to start with high risk, almost come back b/e

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 alejo 
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well, it reach the day, i reach the max dd on my combi test, i know i have a little room to trade 300, i made a quick scalp, but the bad process was in this way:
yesteraday i was long at 36&42, (imagining +40x3lot=120point=6000,...)today i saw gap up 55 and grinding up, i was wondering if with the open maybe go down, i short 59, add 64 ave 61, i got mfe+8 i did not exit, go 64 come back a couple of times.
when spike up trough my 64 lot, i reach mae-8, that was the first key mistake.
i wait for a down.i did not want to take the loss and fail the combi....
the second mistake was with the putin missile, it reach to 66...i have the same chance ,also i think, maybe is better reverse, and go long, i think, not my biases for short....
(aos i close a short nq trade 3718-3713, in TS)because a saw the fake down move, but i continue, i do not want to close it ans assume i lost, because i surpasse the max limit.
in the other hand i was holding a bought at top +3zn 124.22.5, for the same reason, i dd not take the -9tick loss and hold -90tick(i am in yet)
i was sufffering all day, watch ing me without exit, and now i taking more risk than planned.
conclusion:again, i know that i only need one big fail, and i had it

on the TS test, strange but i done well, some cl trades ,all momentum opportunities(but if i was hold the first one...could be+140)
yesterday i say, i do not have fear to trade live , but i need to avoid the big losses, the same problem than ever.

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 alejo 
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was a suffering day, i try to hedge the open s5 3x zn in ts, but i fail
alos i let a cl open trade this night , another suffering situation,
i was not able to take profit in winner positions, and was wondering about what is better, i a fighting between, take quick profit, take less or more risk, be mecanical or ,subjective, i realize that a couple of trades could result in huge outcome, but i need to hold, not close it.
thenn, is it risk i take if a play the earning money?or i considerer taking the profit and strat again?it look more comfortable little profit, but i lose the big moves...
now i want to exit fo the open pos.
i hedge on the TS and exit on fomc move?but is risky to exit only one leg,
or it is much better not stay on this worry posiitons?close quick and next?
or is better applying some stric set of rules always the same?
with open positions staring at screen all the day it not look like the solution, and interfere with my life a lot

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 alejo 
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i had the opportunity, but i lost it, each time that i took more risk, or when i thought, mmmh, better close it, or not let open, or specially when I did not take -9tick and finally took -237.
the list is long , i know the limit for zn was 124.06.0, but i let it continue down
i had 3 days to think, when i was in the bathroom, i thought "come on, go and close it, accept the loss"..."i hold, and i hold"
yesterday i was trading cl, (with s5 fail the combi, and with the open trade zn, waiting..waiting.crazy
the idea to hedge the s5 with TS, to lock some loss, finished with 2 big loss in both account, but not because fail the hedge, i was long in both, and in TS without stop, and this morning previous nfp, also i could exit with some profit, but i let it go to the news, and nfp, again, in less of 2 sec,bum
in s5 yesterday was thinking to exit and forget, but not, i want to recover, and finally, not only not recover, i duplicate the loss.
the combi, i have failed because i reach the max dd, but i not close all the position, i let the open trade to recover? crazy
but i got in 1 day another max dd

to make the things worse, i decide(being hot, watching the zn fall, and nq skyrocket, in the next 5 min of news"ok, now i will stop, but, while the next month i spend reviewing all the journal, i put a long trade now in nq for 1 month , and sure it will be better than my daytrade, i hit at mkt, (with a wide stop and go out to pickup my kids to school)

surpise when i come back (i was thinking, o when nq will be at 4500) and i see, i bougth 4 ticks from top, and down 50points!!)

the nigthmare continue

i reverse the trade, o noh bounce! lose, reverse again

and in zn something similar

combining the secuences of bad behaviors, on top of the zn loss, and TS
finishing almost with -$6000

and i watch the combi and it is incredible the secuences, when i reach to max dd, the loses increase geometrically in 2 days

how is posible?
with the open position around -1400, i overpass the dd, the combi failed, i say ,the only way to solve this is with a luck, (putin or something like that)
is this rejection from 12328?
this morning i think to set stop at 1 tick below, but then i say ,maybe in news, spike down, and up again, i took the risk as low probable(it was my hope)
i set up a stop loss at 1231500, as an emergency to avoid blown up the account, but today nfp, it reached it, i can t believe it, dissapair the money in 2 sec,
the main problem, is how i can hold this loser and put in risk and lose this money for nothing, because unless with the dd of combi i was practicing and learning something.
i would like to learn definitevely that for this way is not the path to become in a succesfull trader
i would like to remember the pain i feel in this moment, the frustration i feel, the embarrasement of this behavior, how ashamed i feel, and how easy i trough away my job.
In other hand, i am facing the harder part of this fight with me, and my unabilty to do what is better for me.
yesterday i say ,how the trading in this way interfere with my life, job, family, and today is worse, because, i have the same problem, but with a huge DD, in both accounts, and the recovery way is heavier, and in a better case, long.
what i learned:
i can lose more than i imagine and more quicker than i imagine
bad things can happen and faster than i think
(avoid trading not taking care of risk and thinking:do it)
not take the little losses ,could become in a big lose
holding the loser, make me unavailable for the market
the way up now is harder
i am very affected for the losses
i have the illusion that when avoid to realize the loss, could be better (and it is the opposite)
i am very very affected when i have a big loss
i start trading out of plan to try to recover, and make the hole deep
i took huge risk, thinking, maybe could be good (and not the opposite)
it is very easy to jump from control to uncontrol
once in uncontrol zone ,the things speedup and increase the uncontrol
the revenge trades appears
the trades for trade without thinking appears
all this things i know before but i could not take care

this night almost i let nq long open again, hoping for a gap up to save me!!!!
unless i re think and i close it.

i need to step back, slow down, down size, apply the plan, not entry in the uncontrol zone, and accept that i need little step by little step.

understand finally that the risk is serious, and the loss posibility is a real posibilty.
the money disapear, out, no more.
it hurt?
pain?
better, not forget.
close the losers!not hold them.
take care of the equity!

the positive thing is if i compare my behavior in a daily similar situation 1,5 years ago, is, in that moment i did not know what happen&continue up to blown up completely , now unless i know what happen.


and the second good thing, i have the money to recover(not reach to 0).

do i need a cooler period?
can i start next week?

if i start now i have the risk to want to revenge

if i cool i have the risk to forget what happen

the ideal could be, start ,not revenge, not forget and trade the plan,little by little, cold head, take loses, and try to the point of 6marhc again
we can see if:
how long will be?
or will be?

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 alejo 
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the line from "i am trading comfortable" to" i am trading in the dark zone" is very thin.
the bads things can happen quickly
the lost of control can happen quickly
i need to avoid yes or yes go in the dark zone:
that is why is so important to limit and respect the loss limit, max dd, max daily, stop loss.to keep me out of the danger of the dark zone
respect the open trades, the same, i justify myself in many ways, but the open trade, mostly open the door to disaster.
i have several doubts, but if i do not stay trading comfortable out of a danger zone, it will be impossible to overcome
on top of that, to recover the account from big dd could be more and more difficult
i was wondering if this is the last time i visit that zone?well, that is my main goal.
and for that purpose i must not take more risk than planned.

why i do not accept a favorable settlement in the losing territory, because my mind work in that way.
the hope to not lose, make choose the wrong option.

but deeply, why i do not want to accept ,i am wrong, i failed? because i want to be wright, but i need to understand, comparing ,my illusion with this result, that to be right is not, go to double the max dd, is not lost opportunities, is not break my head.

is accept the loss.

also i need to keep away from, now to recover this i need to risk more, double down, no stop, out stop, mopve stop, and so on

as i failed the combi100k and push it down to 94650

i will take a new test, more conservative:
combi25k
where
initial equity 25k
max size 2
daily loss limt 500
max DD 1000
profit target 1750

here the main goal is take care of risk, week after week, while practicing my trading
i review all the trades, but i think i choose,
very conservative entries:
trends trades
b/o momentum
pullbacks

and see what happen, little by little
to gain confidence and learn without go in the deep hole again
i will focus to not have any big loss, nor big loss possibility
and score the trades 6/8

if it is sucesfull repeat it 3 times, no more size, no more risk

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 RichardHK 
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Hi Alejo,

Hope your journal writing is helping you. Certainly a valuable read for others to help in our trading game.

I would humbly suggest you spend a month or more following Al Brooks in his daily webinar room. You already have the courage to take big trades, and to let them go against you, so all you need is better management knowing when to allow such trades to stay open - and when to cut them earlier. Normally, as Al would suggest, if you are long you get out on a second entry short signal. If short, you get out on a second entry long signal. Easier said than done of course, as we need to fight the emotional 'hopium' urge to hang on to losers thinking (hoping) they will recover when the odds are actually against such an event.

Some time with Al, perhaps not trading for a while, may help organize your thinking. Or buy Al's past webinar videos at half price and review specific days at your leisure. If you join his room you get same videos each day. Or buy his price action trading video course which only costs a mere 5 ES points. Al Brooks Price Action Site Al trades the ES with a 5 minute chart and has a valuable daily update report on his site that you can study. I use the 2000 tick chart for trading but have 5 minute open too for support - and am always thinking what Al would be saying as each 5 minute bar closes!

Wishing you good luck and a healthy turnaround soon.

Richard
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 alejo 
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RichardHK View Post
Hi Alejo,

Hope your journal writing is helping you. Certainly a valuable read for others to help in our trading game.

I would humbly suggest you spend a month or more following Al Brooks in his daily webinar room. You already have the courage to take big trades, and to let them go against you, so all you need is better management knowing when to allow such trades to stay open - and when to cut them earlier. Normally, as Al would suggest, if you are long you get out on a second entry short signal. If short, you get out on a second entry long signal. Easier said than done of course, as we need to fight the emotional 'hopium' urge to hang on to losers thinking (hoping) they will recover when the odds are actually against such an event.

Some time with Al, perhaps not trading for a while, may help organize your thinking. Or buy Al's past webinar videos at half price and review specific days at your leisure. If you join his room you get same videos each day. Or buy his price action trading video course which only costs a mere 5 ES points. Al Brooks Price Action Site Al trades the ES with a 5 minute chart and has a valuable daily update report on his site that you can study. I use the 2000 tick chart for trading but have 5 minute open too for support - and am always thinking what Al would be saying as each 5 minute bar closes!

Wishing you good luck and a healthy turnaround soon.

thank you richard for your support and advice!
i do not know about if it is convenient to open another source of new info, (i think could be very interesting Al, of course ,not missunderstood)

i see more and more the key problem of myself, and i want to exercise , extreme focus on risk control, to see if can be able to do it.
I need to do it, i must do it if i want to pass the stage.
once i can do it, i can test differents things, and later improve it.
if i can do it but the results are not good , when all the things i already have, then i open a new door.
If i can not do it, i think in stop this endeavor.

thank you very much again

alejo

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  #144 (permalink)
 ratfink 
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alejo View Post
i see more and more the key problem of myself, and i want to exercise , extreme focus on risk control, to see if can be able to do it.
I need to do it, i must do it if i want to pass the stage.
once i can do it, i can test differents things, and later improve it.
if i can do it but the results are not good , when all the things i already have, then i open a new door.
If i can not do it, i think in stop this endeavor.

To stop this emotional roller coaster you still need to build confidence in your edge(s) until you really know they are valid. For some time I have believed that risk management alone was key - it is necessary for profitable trading, but only real edges will take out the uncontrolled emotions and impulses.

On the other hand, real emotions and feelings should never be stopped, without them we cannot make any decision.

Thanks for sharing you heart, it does help many of us.

Travel Well
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 alejo 
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ratfink View Post
To stop this emotional roller coaster you still need to build confidence in your edge(s) until you really know they are valid. For some time I have believed that risk management alone was key - it is necessary for profitable trading, but only real edges will take out the uncontrolled emotions and impulses.

On the other hand, real emotions and feelings should never be stopped, without them we cannot make any decision.

Thanks for sharing you heart, it does help many of us.

thanks for your time and your feedback
i am depurating all the data base i have of my trades to extract some conclusions and see where come from the winners and where the loser, for example, counter trades are hurting a lot, the same with open trades, and open in news, trend trades and b/o look good, big winners come from scale in, but if i do not survive i could not learn, that is the main problem is the risky behaviors with holding losers and want to be righjt are killing me , and i need to manage that, or i will dead soon.
i realize that is very important to wait.
i believe that i know enough to watch, read and trade relatively not so bad, but it is difficult execute it, managing, change ideas live, exit soon, holding losers, and i made all that decisions, i want to minimize big losses first, and see how can book the opportunities when i am in

also i did not find it yet, what instrument fit with me(i try a lot of them in the firsts steps, 22 month ago, that is why add to zn, ES (also for the suppor t that ft71 bring me) , and i am doing some testings in others.
if you have some recomendation to test ,it will be welcome if it is not very outside of my working scope.

thanks again

alejo

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 alejo 
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i found interesting things , but specially about the intentions not follow by me.
i have analysed the entire trades in ES, i have detected what i have done bad, what i have done well, what can i do to improve, the main issue is to follow the plan, executed as a plan said.

the improving trading rules that i have to follow are:

trading rules since march10 2014

Trading rules 10/march/14
acccount s5
ZN
Time Frame to Trade: dom/ range2/5 min5 Vol 1000
Higher time frame range15 min15/30/60/d/w
Indi DOM/ T&S/Cum Vol /Vol
Levels PA/Cum Vol/Vwap/MP/Pivots/O/H/L/YH/YL
SL=5 (goal less 3, quick close)/T>=3

Trade between 820 till 10.30 and then Stop

If reach the Goal Stop
Daily Goal for 1 lots +9
Weekly Goal for 1 lots +45
Monthly Goal for 1 lots +180
Max Trades per DAY……………5
Max Losing Trades per Day…..3 and STOP
Max Losing Trades in a ROW…2 and STOP
Max Daily Lose Ticks……………………..-15 (1 Lots)
Max Losing Daily in a week……3 and Stop 1 week
Max Losing Daily in a row………2 and Stop 1 week
Minimum time after a losing trade: 15min&cool
Max DD…………………………………-64tick and Stop 1 month


ES
Time Frame to Trade: dom/ 5 min/ Vol 2000
Higher time frame range15 min15/30/60/d/w
Indi DOM/ T&S/Cum Vol /Vol
Levels PA/Cum Vol/Vwap/MP/Pivots/O/H/L/YH/YL
SL=8 (goal less 5, quick close)/T>=7SBE >=8trail 30%retracement

Trade between 930 till 11.30
and 1515 till 1615 only

If I reach the Goal Stop
Daily Goal for 1 lots +18
Weekly Goal for 1 lots +90
Monthly Goal for 1 lots +360
Max Trades per DAY……………5
Max Losing Trades per Day…..3 and STOP
Max Losing Trades in a ROW…2 and STOP
Max Daily Lose Ticks……………………..-24 (1 Lots)
Max Losing Daily in a week……3 and Stop 1 week
Max Losing Daily in a row………2 and Stop 1 week
Minimum time after a losing trade: 15min&cool
Max DD…………………………………-80tick and Stop 1 month


If I feel revenge or recovery stop immediately
Not anti-Trend
Wait low risk entries with pukeout action
triggers: icebergs, absortion, spoofs,big mkt orders
Enter in ranges, fading the borders.
Enter in trends, fading the pullbacks
or Break Out.
Always use stops & not move it&set it for the market conditions
I can move the target if I have room and momentum for that, but never let become in a looser “Take that the market give”, but not cut the profit quick because afraid to lose
Never let a trade open
Never let a trade open in news specially fomc&nfp
If I do not the right preparation for that day I do not trade"mental preparation, relaxing, visualization"
Live the now-Focus-Anything can happen-Trade what i see-Do not trade imagination-the result of one trade does not take care-goal exp>0long term-consistency
Review the journal weekly the last 2 weeks &Set goals
Do not trade withot the journal day before and know the max dist to DD
Use the risk control sheet
Use the thermomethers frustration/overconfidence
Use the bacon matrix(i need to write down the A trades not taken for this)
rate each trade according the scale, bo,pb,fr,tt,ct,mt,lt,p,qc,bl,bbl,rr,ll,lw

next goal:
accomplish the plan between 6/8
all trades with risk respect Y,
0 trades big losses
0 trades posible big losers
0 trades open

Override limits rules with the rules for 25k combi
to limit the overall results:

max daily limit -500
max dd -1000
profit target +1750
max size 2
win day >55%

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  #147 (permalink)
 kickmic 
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alejo View Post
Daily Goal for 1 lots +9
Weekly Goal for 1 lots +45
Monthly Goal for 1 lots +180

Dude!! I couldn't stick to a list of daily goals a tenth of all this stuff!!!
Also, above are money orientated goals... they pretty much don't work at this point in your development.

can I suggest picking what you did well "yesterday" and just try to repeat it, and just build on that approach. It helps your confidence and perseverance when you focus on what you can do well. These are not my words, these are from guys like Andrew Menacker and Brett Steenbarger

I'd dump the win rate goals as well. Its an arbitrary figure. Once you have a few things you are doing well regularly, then see what those numbers are and use them as a yardstick to see if future performance is falling behind etc.

If you journal as you trade including thoughts on technical and emotional, then you'll pick up patterns whenever you review your journal. I recommend Evernote because it auto date stamps each entry, and you can use the windows snipping tool to take a quick clip of the relative price action and then just hit paste into Evernote. Those pictures are worth more than wordsYour journal will "teach" you what works so you can ignore all the stuff that doesn't

good luck!

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 alejo 
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Dude!! I couldn't stick to a list of daily goals a tenth of all this stuff!!!
Also, above are money orientated goals... they pretty much don't work at this point in your development.

can I suggest picking what you did well "yesterday" and just try to repeat it, and just build on that approach. It helps your confidence and perseverance when you focus on what you can do well. These are not my words, these are from guys like Andrew Menacker and Brett Steenbarger

I'd dump the win rate goals as well. Its an arbitrary figure. Once you have a few things you are doing well regularly, then see what those numbers are and use them as a yardstick to see if future performance is falling behind etc.

If you journal as you trade including thoughts on technical and emotional, then you'll pick up patterns whenever you review your journal. I recommend Evernote because it auto date stamps each entry, and you can use the windows snipping tool to take a quick clip of the relative price action and then just hit paste into Evernote. Those pictures are worth more than wordsYour journal will "teach" you what works so you can ignore all the stuff that doesn't

good luck!

i appreciate your comments and your suggestions.!!

thanks

alejo

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 alejo 
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well, today i was tempted to do some trades out of schedule but stop.
also it was good only trade 2 hs and stop, and come back 1h to the close, i enjoy more my time.
respect to the trades, i had to thinking to constrain me to not trade if not accomplish the rules.
i use the trail table in 3 trades, was a little mess to count the ticks, but was interesting, applying it.
all trades were out with stop loss!, i rate them 3 "8" and 1 "6"
i considere the day excellent experiences.
i struggle with the losers, to avoid done bad things, i was tempted to let open, and extend the stop,, but not,i close it,
well done
combi 25k

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 alejo 
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i started the day, thinking in make trades in zn, counter trend , then not
2 times thinking in trades in Es ,counter trend then not,
but i need to think in that
i see the initial sell off and a bounce, i was biased for a pullback, i enter , but i was stop out and the move continue withou me and was feeling bad, i wait 15 min of coolong period, to avoid to amke a revenge trade, but i miss the continuation to upside,
then, if pass 81,50 maybe it reach higuer.
i was feel b/o, and fail but i did not act it, first because if i loss 2 in a row i have to stop, and then i start for things that confirm the or fail the trade, i see 3 lh , and i say, mmmmh
i stay
it reach 8 tick stop loss, and i say, mmmmhh this is to close, i move 1 tick under the hl 77
then the question is, if i move and change the opinion 1 why not change 2? move76
my IQ go down while i am on a trade
i do not become smarter while
i do not want to fade the up move because i said, not counter trend
but the trend have changed, and then again on the wrong side, holding
i know 66 is line in a sand, stop loss 64
but i think why is not possible to reach 60?
i wathc the p/l around-500 it is time to exit at limit
come a sell off, and exit and close it but it is late
-825
it was better to accept that something worse
but i broke several rules
the schedule of 2hs for example, i am in a ttrade , what i have to do, close it at that time?
the consecuences are, i spend more time stairing at screen,fell bad, , my head was overload, i miss the 2 entire moves, specially the downside.
the confidence go down quick
i think i am not recovery from the big loss ffrom the other day

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 alejo 
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in one hand i was carefull with s5, i do not have room to errors, only 16 ticks max dd
2 loser-8-6
and the 3rd +8
4+4 and close +6
for tomorrow up to 194max dd
maybe time for zn

for other hand, i overtrade on ts, and use more risk because i do not have the strict control the combi on s5, is like ui have a freedom to trade in TS, (no strict rules, almost no rules)
and the difficult task to select with much care on s5 because i can fail, is more serious.

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 alejo 
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yesterday i made 1 zn trade, ok, calm
but the caos came with es sell off.
i made a trade fading the range, and fail, ok -8, i took the stop, but after then i was unable to capitalize the sell off, i made 12 trades, when i trade the b/o short (5 times), i was stop out because i was fear the loss in a spike up, all of them i could have a mfemax of 18/19 handle
and ,and this is the breaking bad the plan i not follow, i made counter trend trades, yes, i broke my last new rules, i made 6 ct trades, and i lost my shirt and my pants there
-59 , i overpass my daily limit my max dd, and fail thye combi, the test, the live test, and almost everything
very dissapointed, step back 100miles

i think, then, ok, now i let one trade zn long open for long time, also ec short.

but what happen
zn winner from 17 to 19, i exit, because i said , ok my rules said exit, and then i saw spike to 23!
and then before the close, i made a new counter trend trade
short20.5, and this morning , stop out 24.0, tyhen if let it open long.
but any way, evidently, this is not the way how can i become ina trader, i continue become in a poor losers
thye plan say if fail max dd, again (23067.26--DD-1400, )
stop 1 month
ok, i will stop.
bye bye to the illusion, to i am on the right way
if i practice sim i do not find mu mind problem
if i practice live i lost the money
then what next?
find in sim something i trust ?
change everything? move to bigger time frame?
or continue this in sim?
or go to zn&dom?
or go to opportunities trades?
or read bmt?
or yoga?
or quit?
or holiday?

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 ratfink 
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then what next?

Stop trying to trade at the speed of light?

If the writing style in your journal matches your thought machine then you need to slow down by about X100!, try to work within a more defined context, maybe higher time frames (you can still use smaller to help entries) but with more feel for where the market might be compared to weekly/daily levels, etc.

This damn game is so hard for all of us and running at speed definitely makes it harder.

Have a good weekend.
Cheers.

Travel Well
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 alejo 
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Stop trying to trade at the speed of light?

If the writing style in your journal matches your thought machine then you need to slow down by about X100!, try to work within a more defined context, maybe higher time frames (you can still use smaller to help entries) but with more feel for where the market might be compared to weekly/daily levels, etc.

This damn game is so hard for all of us and running at speed definitely makes it harder.

Have a good weekend.
Cheers.

ratfink, yes you right, i will do (unless i will try)
thank you

alejo

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 alejo 
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i was reviewing the trades from yesterday and one thing that bother me a lot and start to igniter strabge things in my mind is when i lost an chance, fopr example:
first trade in zn, a setup, trend up, pullback, fade range, +123.28.0, little risk, lot of possible reward
i exit +3
go as crazy up till +50ticks

after a crisis with es, i say ok, i go long 12417
come later, i see 4 tick i took 19
1 min later spike 10ticks

in the evening i say (this is the worst), counter trend anti plan
fade, near the end of day i mfe+2, , i let it open (unless with stop in place)
and this morning stop out

all fight for the crisis to lost the move in es (not only lost the move, )if not i lost in the move, double lost

analizing the combi failed, i found after 3 losing trades in es(2 of them with a nice potencial of 78ticks&close for me quick) ,start to making out of plan trades, then i not follow the plan, more 2 losers in arow, more than 3 losers, more than 5 trades, 6 counter trend trades, and 1 with no risk respect, the last -20stop, moved

exceeed max dd.

it look like i am not able to think, on the speed of the downtrend or uptrend, i see the trend, i see the pullbacks, but i do not believe the continuation, now, when i was with trend, i close it before with fear
it is a combination, bad mix combination.

today i stop trading and only i watch,

the only rest of yesterday crisis is an open short 6e after the krd of yesterday, planning to hold longer, but with the reversal of today, i start doubting again.

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 alejo 
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one is to find and test and twist in sim up to the process is incorporated as second nature, then go live and close the gap one find it there

the other is to fight against the braind, emotions, instinct, trading live, find i cut winners early, and hold losers, get emotion, revenge trades, brake rules and so on, while i build and handycraft the strategies.
with the second one i lost 10k, in the last 2 month

the first one look safety but with not emotions, it looks like losing time
the second one it looks like a losing money goal

i use this month of pause to re read, re tunning, find something ,simpler, and be ready to test it

but the main issue it is me, then that test and their solutions come with the live

with i have doing now, i could be profitable if i did not brake the rules

maybe if i simplify the rules?
or as mike &others said, i do not trust in what it is my edge?
maybe step back to 1 instrument?
i call this minded cocoa

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 alejo 
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it looks like it is much better not to scalp, for the tons of advice i read and receive
to not scalp , we need to go for bigger target and let use bigger stops, the use big time frames, and think much better and slower where is the area to go in
for example i see each time more clear than es it moves from one side to other in almost 10 points or more
but how enter in that?
in the other hand the result buy and hold look better than scalp
ideas to think

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It seems like you have many racing thoughts going on between your ears during a trading session. Just my observation - maybe I'm wrong ? I listen to classical music during a trading session. It seems to calm me down - and most importantly, slow me down. I always trade better when I react to the market instead of over trading which means I am just allowing the market to throw me around. Just a thought.

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 alejo 
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It seems like you have many racing thoughts going on between your ears during a trading session. Just my observation - maybe I'm wrong ? I listen to classical music during a trading session. It seems to calm me down - and most importantly, slow me down. I always trade better when I react to the market instead of over trading which means I am just allowing the market to throw me around. Just a thought.

thank you for your time to help me.
you right about the race on my head, analizing what happen while on a trade, hold?, exit?, wrong?wright?i would like to learn what way to choose to continue on
first doubt about market, second, about scalp or no scalp, third,focus on execution/mind or focus on entry/setup/learn mkt,time frame 5 or 30 , SO or SI, time on screen, swing open pos, watch 1 market or scan for opportunities in 5/7 mkt...
with a lot of pieces of this puzzle ,i am near desesperately, hopeless, and feeling going around biting the tail

thank you again, and if want to helpme guideme ,welcome

alejo

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 Cloudy 
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one is to find and test and twist in sim up to the process is incorporated as second nature, then go live and close the gap one find it there

the other is to fight against the braind, emotions, instinct, trading live, find i cut winners early, and hold losers, get emotion, revenge trades, brake rules and so on, while i build and handycraft the strategies.
with the second one i lost 10k, in the last 2 month

the first one look safety but with not emotions, it looks like losing time
the second one it looks like a losing money goal

i use this month of pause to re read, re tunning, find something ,simpler, and be ready to test it

but the main issue it is me, then that test and their solutions come with the live

with i have doing now, i could be profitable if i did not brake the rules

maybe if i simplify the rules?
or as mike &others said, i do not trust in what it is my edge?
maybe step back to 1 instrument?
i call this minded cocoa


from the sound of it you may not have an edge working right now. I found that one can use up a lot of time with no real edge. Also simming should be done so one can consistently garner statistics of profit factor at least 1.5 to 2.0 or greater for a month , or months or more before going back to live trading. Also did your live losses exceed 40% of your account in the last two months? If this is the case, then from a professional plan I had learned, one should stop trading live for at least 3 months.

True, this can go one for years. Maybe "losing time" not making profits while "others", the 5% profitable make profits. But considering, there are those who made profits 10 years ago, and 20 years ago and decades ago to the 19th century. For myself I can never catch up to them because I'm a dumb person and slow learner for one, and I've only only started trying this trading endeavor 6 to 7 years ago. And not really daytrading attempts until 5 years ago.

( And I worry everyday, the retail market will be banned or outlawed in a very short time. So even this avenue
what the rest of the populace critically think of as nothing other than "legalized gambling". (which I agree it's gambling with all it's guilt-inducing implied vice. It isn't "real work". But then again today we have proportionally some of the lowest wage deflation since the robber baron times. unless one is a gov't worker and can vote themselves raises through taxes like in California... That's why I wish to make trading a stable part-time stream of income for myself while still making "peanuts" in the "regular" work world many are now forced to do so in this collapsing world economy).
But in the end it may not matter. If the markets collapse, the whole world is going down together and the post office will stop delivering mail (already in bankruptcy/furlows etc., unheard of). And we may be better off all learning how to grow our own survival farms in the end in the near future. But what can we do, there is nothing we can do short of bloody revolution and future world wars. )


The following is just my opinion. It may or may not be a good suggestion. Stay off live trading for 3 months after a 40% loss. Regroup. Maybe try one of the vendor "schools". Maybe try CJBooth's mentorship. There are a bunch of them out there. Also try elitetrader reviews. As futures.io (formerly BMT) vendor review list doesn't seem to cover a bunch out there.
i think following a vendor method with at least a 40% to 50% chance while learning money management of losers and also managing winners is the best shot of succeeding. Since 95% of vendor "schools/products" are scams (similar to 95% of retailers lose coincidentally) it may behoove you to take advantage of review resources and find a list of vendor schools that have the least signs of being a sim fraudulent babbling presentation and an ad organization for endless subscriptions and endlessly new and revised indicators and strategies).

There's also a few free method shared generously on futures.io (formerly BMT). For example JDNeeman's alpha trading method thread. The method looks to me very similar to CJBooth's and some of Woodie's. Well setups can be the same entry, i.e. a "setup by any other name". Surprised that institutional HTF/algo trading with their size hasn't moved some of those setups out of profitability already. Well the 6E has been devastated since two years ago imo. Maybe CL is next. Good luck Alejo.

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 alejo 
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from the sound of it you may not have an edge working right now. I found that one can use up a lot of time with no real edge. Also simming should be done so one can consistently garner statistics of profit factor at least 1.5 to 2.0 or greater for a month , or months or more before going back to live trading. Also did your live losses exceed 40% of your account in the last two months? If this is the case, then from a professional plan I had learned, one should stop trading live for at least 3 months.

True, this can go one for years. Maybe "losing time" not making profits while "others", the 5% profitable make profits. But considering, there are those who made profits 10 years ago, and 20 years ago and decades ago to the 19th century. For myself I can never catch up to them because I'm a dumb person and slow learner for one, and I've only only started trying this trading endeavor 6 to 7 years ago. And not really daytrading attempts until 5 years ago.

( And I worry everyday, the retail market will be banned or outlawed in a very short time. So even this avenue
what the rest of the populace critically think of as nothing other than "legalized gambling". (which I agree it's gambling with all it's guilt-inducing implied vice. It isn't "real work". But then again today we have proportionally some of the lowest wage deflation since the robber baron times. unless one is a gov't worker and can vote themselves raises through taxes like in California... That's why I wish to make trading a stable part-time stream of income for myself while still making "peanuts" in the "regular" work world many are now forced to do so in this collapsing world economy).
But in the end it may not matter. If the markets collapse, the whole world is going down together and the post office will stop delivering mail (already in bankruptcy/furlows etc., unheard of). And we may be better off all learning how to grow our own survival farms in the end in the near future. But what can we do, there is nothing we can do short of bloody revolution and future world wars. )


The following is just my opinion. It may or may not be a good suggestion. Stay off live trading for 3 months after a 40% loss. Regroup. Maybe try one of the vendor "schools". Maybe try CJBooth's mentorship. There are a bunch of them out there. Also try elitetrader reviews. As futures.io (formerly BMT) vendor review list doesn't seem to cover a bunch out there.
i think following a vendor method with at least a 40% to 50% chance while learning money management of losers and also managing winners is the best shot of succeeding. Since 95% of vendor "schools/products" are scams (similar to 95% of retailers lose coincidentally) it may behoove you to take advantage of review resources and find a list of vendor schools that have the least signs of being a sim fraudulent babbling presentation and an ad organization for endless subscriptions and endlessly new and revised indicators and strategies).

There's also a few free method shared generously on futures.io (formerly BMT). For example JDNeeman's alpha trading method thread. The method looks to me very similar to CJBooth's and some of Woodie's. Well setups can be the same entry, i.e. a "setup by any other name". Surprised that institutional HTF/algo trading with their size hasn't moved some of those setups out of profitability already. Well the 6E has been devastated since two years ago imo. Maybe CL is next. Good luck Alejo.

it looks good your advice to stop live trading, thing i did not do , and lost a lot of money(i say i feed all the money to these almost 2yrs trial, i left the mark of 40% well behind)but a lot of people told me that and i continue, maybe thinking, yes now i got it, or sometimes saying, ok, i gamble this to recoup all...

but how can i learn to deal with me without trading live?
it s like a circle

later i was doing some live test i called combi , it is similar to combine, and i play with equivalent to have 25k and max dd of 1000, (before i made a bigger 100k dd3000, but the problem is when i reach the max dd, i passed it, the last tardes are the worst, i think maybe when i was near the max dd, stop before to drill it)then i can limit the digging the hole, but anyway , i can lose so quickly a bunch of money

respect the find a vendor, i say radically not at all

i am believe (and a lot of adv traders said this) that i need to trying my self to find something that work for me.
i d rather prefer trying to find an advanced trader that wants, and can guide me, in the process to find my path, sometimes one can be near the right path and you never know that, and in others you can go away from path and you also do not know.
there s infinite posibilties but not all you can try, but between scalop or not, between markets, or between so or si, maybe are less, in any paossibilty i guess exist profitable traders
what i need to do, in any path to be profitable?what is my easier path?
why i see almost in each trade one can be profitable if did something, exit or stay, or reverse?
and all depends on me
holding loser
not hold winner
hesitate
impacient
and more
how improve that?

and really look simple, you see the trend, you enter, you add ,you wait and you exit.
but when you try live it is different

thank you for your time and your help

alejo

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 Cloudy 
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Hi , your welcome Alejo. And thanks for your frank thoughts. I feel the same way on trades too as I'm sure
most everyone else struggling.

I guess one way to do it sim, is to treat it like live. Try to stick to the rules on money management on sim.
And if you mess up and try to "recoup" the losses with more leverage than maybe make a note of it like in a diary. Then you know you're not ready to go back to live if you're still breaking the "live" rules even in sim. Sim should be simming live trading like a flight simulator, or a simulator of a science experiment. I also heard it said from a host of a trading room that "trading losses" are the cost of doing business. Like every real business has overhead costs. Most new small businesses fail, because their overall cost per unit subtracted from gross profit per unit, doesn't make it over into a positive gross margin per unit etc. So maybe thinking of losses as overhead cost, one can accept a losing day. Only when the losing day becomes 5 days a week and the trading account hits -40% then one realizes it's time to stop and regroup and practice another method, other strategies etc.

Also about previous losses. I know they all say it, but never use extra leverage to try to make it all back up. The chances are really a crap shoot or a roulette wheel. Like they say, if one wants to gamble all their money in one fell swoop maybe one spin on the roulette wheel is ok, but knowing it's all done after it's over, so it would be no more trading if one lost. If one was already a billionaire, sure maybe betting ten thousand at a time on a roulette wheel maybe one's way of "rule-based" "gambling". But with a small account it's better to stick to trading with the usual old adages of never risking more than 2% of one's account etc. per session. (I had read some news story of some billionaire's son who lost tens (hundreds?) of millions gambling in Las Vegas. The poor out of control, directionless soul ended up suing the casinos who always served him up as a VIP trying to make it easy for him to gamble big as much as possible!)

Also if your losses in trading are hurting and too big, it may be ok to take an extended break from trading and just read up or just stick to sim while following a coaching method from a good mentor or coach who can help one deal with trading losses and the psychology behind it. Maybe a break even more than a half year to help the sting from the trading losses fade. I had to do that myself...

Well, just my 2c, I'm sure there are others who can far better explain it. The best I can say is that I empathize and hope my words help in some understanding way.

You may have seen me posting this before. Big Mike posted it while back. it helped me some to gain a better perspective...

FuturesTrader71 | Trader Analysis 2011-09-01

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 Cloudy 
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there s infinite posibilties but not all you can try, but between scalop or not, between markets, or between so or si, maybe are less, in any paossibilty i guess exist profitable traders
what i need to do, in any path to be profitable?what is my easier path?
why i see almost in each trade one can be profitable if did something, exit or stay, or reverse?
and all depends on me
holding loser
not hold winner
hesitate
impacient
and more
how improve that?

and really look simple, you see the trend, you enter, you add ,you wait and you exit.
but when you try live it is different

thank you for your time and your help

alejo

Regarding what you wrote above which I forgot to address. I found out that if a method doesn't address those questions, it isn't complete. So one should spend time also learning stop and trade management. But it's ok I think to learn one method and use another method's or one's own learned way to manage the trade and targets and stops.
For example, one could stick to 15 tick profits, taking half off at 7 ticks etc. And stick to 15 ticks even if the market continues on. Then finding setups which on stop-out of a failed trade has a good chance of a reverse win making back some or all of the initial loss. As for "messy setups" on a trade entry I think the only way to learn to enter or not on a messy setup is just a lot of practice. As most setups are never clear cut as initially taught or shown on a "perfect" chart especially from a vendor who doesn't trade for real. There are other ways to gauge targets, such as using a stop curve indicator, or using fib extensions etc. Like they all say, to learn to stick to one method with one set of stop and trade management entries and exits etc. As for sim vs. live, as above I mentioned treat sim as live. So when live stick to the same. If you have well defined and practiced rules for both stops and entries, and targets in the sim, then live will be far easier to duplicate the sim behavior. I blew a small account I was testing down to 60% last year testing a new method so I quit that method and went back to sim. At least I accepted each loss and did not add or break the stop rules. And the account was small enough that the 40% loss did not hurt too bad. yes, i didn't test it sim enough; i was too eager to go live with it that time...

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 alejo 
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Hi , your welcome Alejo. And thanks for your frank thoughts. I feel the same way on trades too as I'm sure
most everyone else struggling.

I guess one way to do it sim, is to treat it like live. Try to stick to the rules on money management on sim.
And if you mess up and try to "recoup" the losses with more leverage than maybe make a note of it like in a diary. Then you know you're not ready to go back to live if you're still breaking the "live" rules even in sim. Sim should be simming live trading like a flight simulator, or a simulator of a science experiment. I also heard it said from a host of a trading room that "trading losses" are the cost of doing business. Like every real business has overhead costs. Most new small businesses fail, because their overall cost per unit subtracted from gross profit per unit, doesn't make it over into a positive gross margin per unit etc. So maybe thinking of losses as overhead cost, one can accept a losing day. Only when the losing day becomes 5 days a week and the trading account hits -40% then one realizes it's time to stop and regroup and practice another method, other strategies etc.

Also about previous losses. I know they all say it, but never use extra leverage to try to make it all back up. The chances are really a crap shoot or a roulette wheel. Like they say, if one wants to gamble all their money in one fell swoop maybe one spin on the roulette wheel is ok, but knowing it's all done after it's over, so it would be no more trading if one lost. If one was already a billionaire, sure maybe betting ten thousand at a time on a roulette wheel maybe one's way of "rule-based" "gambling". But with a small account it's better to stick to trading with the usual old adages of never risking more than 2% of one's account etc. per session. (I had read some news story of some billionaire's son who lost tens (hundreds?) of millions gambling in Las Vegas. The poor out of control, directionless soul ended up suing the casinos who always served him up as a VIP trying to make it easy for him to gamble big as much as possible!)

Also if your losses in trading are hurting and too big, it may be ok to take an extended break from trading and just read up or just stick to sim while following a coaching method from a good mentor or coach who can help one deal with trading losses and the psychology behind it. Maybe a break even more than a half year to help the sting from the trading losses fade. I had to do that myself...

Well, just my 2c, I'm sure there are others who can far better explain it. The best I can say is that I empathize and hope my words help in some understanding way.

You may have seen me posting this before. Big Mike posted it while back. it helped me some to gain a better perspective...

FuturesTrader71 | Trader Analysis 2011-09-01

i will watch it in deep, isee a couple of minutes and the gay went for 100-20-33-1, i have a record 55-64-0;5-10-0;2.5-0.3,5-.7,15-17-6,

opt1)maybe could be, go to sim, get expert there (with a lot of confidence)and then go live
or m6e and
a)repeat and got resilience in live anb done
b)mind take over sim rules and invest more in live (continue donating)

opt2)invest more in live and (continue donating)
a)someday stop b)got it and reach the goal

the function between amount donated versus how close my skills are to reach the goal are better in opt1 or opt2?

thanks

alejo

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  #165 (permalink)
 Cloudy 
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Hi Alejo, just myself I would go with option 1. Then see if I could get profit factor average 1.5 to 2.0 or greater
after testing 20 or so trading days in sim following rules. Thanks.

Here's an interesting link on elitetrader:
https://www.elitetrader.com/vb/showthread.php?s=&threadid=74408&perpage=6&pagenumber=1/

it's "ok" if the big losses are within small 1-5% of a big account, but I don't think it's ever good from too high leverage causing the loss.

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  #166 (permalink)
 alejo 
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watching the market without trading is not the thing i like more
the temptetion to trade is enormous
but for what ?
if i know the result will not be ok, with the skills i have now
but it is hard to admit it.
i have the open position on 6e short on TS yet (from the last day of fail combi), maybe that let me participate in some way

i rejected applying and studying all new stuff because i believe the problem is not there, the problem is insight of me when applying anything.

if i jump to look another thing out there, it looks like the problem is the tool, and not me.

but trying to do the same ,again , and repeat, it, can change the things?

suddenly i find my self reading bmt in search of a strategy to learm trust and apply (with the hypothesis, that the things i try to do is the problem) but is this the case?

some of you saying, maybe you do not know an edge ...

but what is true, is i do not trust in what i am doing., or i am trying to do


as I have the 6e open position , I find a 6e trader to discuss that.
and I find bpm14
@wldman thread, and I planning to go deep with what he is doing, and try to learn that and see if i am able to execute that, and i can apply it with m6e, minimizing risk while i learning that

while i was looking for the indi , i find tons of info from @Fat Tails and interesting charts /indi with pivots, levels ,vwap, /indi dily range, daily noise, that i think could be helpful to be aware
also fattails provide a lot of useful info to trade

then it open the door to tons of new info, but, is this new info usefull for get the goal?
i think not
because all reduce to if i am able to execute them

again in a circle, vicious circle or virtuous circle?

now i remember that @Bacon said to me,
find something in bmt, testing, practicing, only choose one setup,...,plan, rules, you need to trust in it

he was right, thanks

then if i have failed with the previous plan, now go ahead, with this

i was asking help, for an advanced trader to help in this process, like a trainner, coach,or something like that
to avoid i wide spread my effort and i lose the path

selfcoach it looks it is not enough
it is easy to get lost

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  #167 (permalink)
 alejo 
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Cloudy View Post
Hi Alejo, just myself I would go with option 1. Then see if I could get profit factor average 1.5 to 2.0 or greater
after testing 20 or so trading days in sim following rules. Thanks.

Here's an interesting link on elitetrader:
What is the worst one day loss you ever had? - Elite Trader

it's "ok" if the big losses are within small 1-5% of a big account, but I don't think it's ever good from too high leverage causing the loss.

interesting commnets
thanks

alejo

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  #168 (permalink)
 jsengxx2 
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I think you have found your own answer in the previous post you posted:

watching the market without trading is not the thing i like more
the temptation to trade is enormous
but for what ?

I think you are over trading, just think about the fact that some markets only give you about 3-6 trades a day!

I have offered you free education, so what are you waiting for?

Trading is not reading a book and after you have read the book you think you can trade!

You have to spend hours in front of your monitor, sim trading, looking at mistakes and only trade real money when you have proven to yourself that you are profitable.

Trading is hard working, it is like a F1 pilot.

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  #169 (permalink)
 alejo 
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jsengxx2 View Post
I think you have found your own answer in the previous post you posted:

watching the market without trading is not the thing i like more
the temptation to trade is enormous
but for what ?

I think you are over trading, just think about the fact that some markets only give you about 3-6 trades a day!

I have offered you free education, so what are you waiting for?

Trading is not reading a book and after you have read the book you think you can trade!

You have to spend hours in front of your monitor, sim trading, looking at mistakes and only trade real money when you have proven to yourself that you are profitable.

Trading is hard working, it is like a F1 pilot.

thanks joao,
we can start , i think it is so much easy to see the others΄s problem from outside than from inside
you know my situation and main issues based on my journals
what are your first guidelines?

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  #170 (permalink)
 alejo 
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i was reading, info, watching videos, trainning , analizing market, price action, according the joao instructions
i close the euro open trade, after the lucky push from fomc and i could not avoid to trade cl short after the big retracement and this morning i saw a selling pressure from there.
i try to let it down after the condition change, difficult to do it.

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  #171 (permalink)
 alejo 
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I do not want to lose the opportunity to participate, yes , that is what i realize it is happen to me when i want to see the markets, and trade them
the result are shownme in spite of ES go up 10 point and down 20 point, i am not able to catch that "yet" (i only get a couple of points and with a lot of bad trades in the middle

the same with gc moves (i wen t to go long 1290...)

in general, if i wait the move, i said, oh i lost that

and this has conflict with the issue , scalp, not scalp, go for bigger moves.

and overtrade also

i think watching the es, that it look possible wait for the move to one side, wait the unbalanced situation, and enter with a lottle risk, and then start pressing guessing this is the 10 point moves...

but how can i do that?

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 ratfink 
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alejo View Post

but how can i do that?

Stick to ONE instrument only.

Pick one time frame for some context (e.g. 15/30/60/day, your choice, ranges/S/R/profile/whatever you prefer.)

Pick a shorter time frame or type for entry and to gauge momentum/strength (e.g. 1/2/3/5/tick/range/vol, your choice.)

Pick maybe two setups and a fixed stop target (eg pullback/breakout/10:20, your choices.)

Make two trades, no more, on 2-4 days a week for 3 months.

Avoid messy days like rollovers/fed/etc.

Treat Mondays and Fridays with more caution, but still be careful on Tuesdays, Wednesdays and Thursdays.

Change nothing once you have a method, at the moment you appear to have none.

Do nothing else except learn to chain yourself down and stop jumping around like a jack-rabbit.

Best Wishes and Slow Down!!

Travel Well
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  #173 (permalink)
 xelaar 
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ratfink View Post
Stick to ONE instrument only.

Pick one time frame for some context (e.g. 15/30/60/day, your choice, ranges/S/R/profile/whatever you prefer.)

Pick a shorter time frame or type for entry and to gauge momentum/strength (e.g. 1/2/3/5/tick/range/vol, your choice.)

Pick maybe two setups and a fixed stop target (eg pullback/breakout/10:20, your choices.)

Make two trades, no more, on 2-4 days a week for 3 months.

Avoid messy days like rollovers/fed/etc.

Treat Mondays and Fridays with more caution, but still be careful on Tuesdays, Wednesdays and Thursdays.

Change nothing once you have a method, at the moment you appear to have none.

Do nothing else except learn to chain yourself down and stop jumping around like a jack-rabbit.

Best Wishes and Slow Down!!

Fully subscribe

Trade to live. Not live to trade.
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  #174 (permalink)
 alejo 
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ratfink View Post
Stick to ONE instrument only.

Pick one time frame for some context (e.g. 15/30/60/day, your choice, ranges/S/R/profile/whatever you prefer.)

Pick a shorter time frame or type for entry and to gauge momentum/strength (e.g. 1/2/3/5/tick/range/vol, your choice.)

Pick maybe two setups and a fixed stop target (eg pullback/breakout/10:20, your choices.)

Make two trades, no more, on 2-4 days a week for 3 months.

Avoid messy days like rollovers/fed/etc.

Treat Mondays and Fridays with more caution, but still be careful on Tuesdays, Wednesdays and Thursdays.

Change nothing once you have a method, at the moment you appear to have none.

Do nothing else except learn to chain yourself down and stop jumping around like a jack-rabbit.

Best Wishes and Slow Down!!

thank you, i will try!

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 alejo 
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yesterday i start to trade according some rules in cl ,that joao is teaching me, and i find doing a lot of different things, catching spikes, trying to catch the top/bottom, exiting by fear in most of them
specially no waiting for everything in alignment
today i try to wait and reach them

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 alejo 
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i realize that almost all trades same issue, exit with fear while is a winner....
i know why, because our mind works in this way,
if yuo are in thye winner territory and we have high prob , one accept a worst settlement and close the winner, but i want to try to go against that

yesterday i have wanted to make a test, i was bearish es, i short 1865 and say , i hold this up to the close, but i could not ,again, in a retracement ,i sold 63
later again short 59, and again, i close 54 retracement
i am trapped with this

imagine with a close near 41 with 24 handled...

maybe if i turn it off the screen and i go away works...

could be this the issue with scalp /no scalp?

scalp give you calm when to take profit

hold winner is very painfull

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  #177 (permalink)
 alejo 
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today i was waiting more and i made 2 trades with cl according joao rules, and was good +45, but later, the same issue, i see things (chase spike, breaking highs, )and i want to participate, and finish made impulse trades, chasing, alos i let an open trade...cl shor at highs

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  #178 (permalink)
 alejo 
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i am trying to find something to fit with me, today i have achieved to hold a winner to catch the 10 point move in es, and also other in nq and 6e.
if not move the stop, ant take the loses is difficult i think hold the winner is more diffcult, support the swing against me, 1,2,3 times...
could be very interesting to exit at top and reenter in the pullback, but it sound a hyperfantasy.

if i wait to the zone where the market offer high S/R ,and enter with reasonable risk , and try to ride it

also another nice discover is to wait the 15 min opening range and it is more clear the picture,

another thing is as chasing the moves is an losing games, maybe is an opportunity to fade them

it is very good that it looks like i am taking loses regularly, use stops ever, and i see the benefits of that, then i am seeing this with less fear and with more opportunities, even though ,i do not know how to catch them yet.

i am receiving some help from @wldman to compare the decisions with the trades and try to learn from that , i can test with m6e

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  #179 (permalink)
 wldman 
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had a few nice ones there.

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  #180 (permalink)
 alejo 
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this battle is getting me crazy yet, i was decided to not scalp and go for bigger target, but when i analyze the result and make what if with different target, it looks like the+4 @welly92 target beat the other possibilities.
the idea is to wait for big moves and add to them, but most moves not last 3 swings.
i was looking for the way to catch the 2/3 moves per day +10/-10/+8 that occur
but to do that, you need to scratch a lot of trades, and if you sum all of them, the result look positive for the a lot +4
yesterday was a choppy day but it has 2 nice moves, i let it run and i let it scape mfe , and finish red with the losers
the good thing, all little losers
scale out is the only way to capture the moves and have the possibilties for a runner?i do not like so because the increase of risk and you do not press the good moves
but in the other hand you can get the little ones and you let the possibility open but with minimum size
the ideal way is initiate with little risk, addin, increase size and cacth the move with size, but i lost all littles moves
if you set 4t target and you get 8 point move, does not make sense
but if i scrath 10 trades instead of take +40 neither
i need to continue testing if it possible to get in nice moves and adding to them
i was reading that it is important to know the adjust results to risk to get that result and compare differents systems, and i see that in Tradestation results there s that parameters(risk adjusted) and always are negative or worse than the normal results
i do not yet how to measure that yet.
example scalp
if @welly92 says he got 70/90%w, if i can get 60%, then if i made 10 trades 6x4-4*(-5)=+4 less (10*3comision)=+1
not so good,

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  #181 (permalink)
 alejo 
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bad thing
yesterday i made some bets, because i think could happens this ,or this
it is a mix of hope to recoup, to not lost the supposedly chance, and with that , not only lost money, lost time, effort, focus,
good thing
i tried yesterday the test welly chart, i heared the prep of ft for es, wait the 15 min after the open, and start to trade, and after 11 trades, 2 of them were the key, short 76 upper band and long 71 lower band
if they were 3 point stop loss an 6 point target ,could be ok, ratio 2:1, max 2/3 test of this support/resistence areas, and signs to roll
can be+20/-12
or scalp for +4/-5?

or entrer with -5 risk sl and add

sh 76
add75
add73
exit 70 +24+20+12=+56

the other
long 71
add73
add74
add77
exit 78 +28+20+4=+52

the equivalent with aiao risk3*12=-36
sh76
exit 70 +24*3=+72
L71
exit78 +28*3=+84/$1050

if scalp with 3 lot
+12/-15
10 trades
6w 4L
+6*12=+72
-5*4=-20
+52/$650
costs+30*3 $-90
+$560

in 3 scalps i am risking more (-45)than in 1 trade aiao(-36)

the best is adin but it look the more difficult to execute risk -5/for +52

what will be the win ratio of the 6 point target?
40%?
then
aiao
4*(+84)-6*(-36)
+120

in 2 days of scalp is the same....

to be continue

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  #182 (permalink)
 alejo 
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i was thinking that I am in worse mental condition, today, after the yesterday crisis, but i can did the preparation, check levels ,wait 15 min after the open, and go for another day of traing ,well, in hindsight i see i need to wait more time before to jump on trades if i want to catch the nice moves, it was good that i cut all to little losers, and i let one to run+21/1h , but later i fall down in a pure scalping , and i lost again the chance of a nice move up
6l 3w +10
when zn was on bttom i made 1 trade, the plρan was 3lotstrat,but i extend target, and mise thye mfe and i close it when go bad

early i was watching gc and it is getting coiling pressure, and i enter, with luck this time, jump up and i got +63
this opportunities trades, can be useful?
can i considere a setup wait to coailing days?

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  #183 (permalink)
 alejo 
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after watching this, i was wondering if it is good or not to have a daily goal target

i reach +19 and go almost down

if you have 50% winner ratio ,and made 2 winners, it is not smart to stop , instead of wait the losers to come?
or it is better continue trading because today is my day?

i was starting with a daily limit and i get it and stop with rules when i practice 3lstrat,

i hear a lot of things about this, it is better not to have that?

i decide it is better to not have the limit, to avoid to cap the winners

but in the real practice i have my doubt about it

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  #184 (permalink)
 alejo 
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the day start well , i made 4 trades and up +33 and was 1020et
the big sell off did not start yet
i was thinking if it is not ok, to stop, because the daily goal ,but not the speed of the events increase, i lost 1 trade -31 tick, bad trade, no risk respect, counter trend, but , that is not the problem ,or the main problem.
i start emotionally trading counter trade, and chasing to try to get something, but , when long, the train kill me, when chase short, reverse, and again and so on.
and the last , always thyw worse, counter trend ,with mae-41 ,exit finally for -24
i lost ,any chance to get a single trade on that trend, with that behavior
the idea to hold the winner when i was short 88.50, is pure imagination, but could be 30handles, and again how?
there were 8 pushes and with a trail with 4/5 points it culd be possible to ride it down.
but anyway , that is for a couple of years, if i am live
i became a fantastic day in a nightmare day
and i get the prize for overtrading with 16 trades

again the step between the calm and the breaking down is very thin
i was thinking, it is a good idea to stop here, it is a good idea to stop here.
but when i enter the trade thinking the POC hold, i went +9 mfe and let it down to -31 break ylo, i was lost, and the revenge, emotion, crazyness took over, and , i could not be able to stop, turn it of the pc, and go with b/e day, not, and now, i eat -86 form+33 (139dd)

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  #185 (permalink)
 alejo 
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evidently this way is not the correct, i am lost control of myself, and the problem is not only the 90k lost, and 2years of my time, but it is affect my life, my job, and me, i need to stop, close platforms, and think

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  #186 (permalink)
 Itchymoku 
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I've had the same problems not being able to hold onto winners.

I'll give you a little piece of advice before you walk away that has helped me stay in the game and you probably already know because you stated part of it earlier. Ironically it's - walk away while you're in a trade, or at least parts of it -

I found it out when I compared the results of a continuous replay test with a manual candle by candle replay that the candle by candle outpreformed.

I found that I have better results when I place a trade with a stop and alarm to come back at the end of each candle to check to see if I want to scale out or go for another candle than I did just watching price bounce around continuously. This also works similarly to how walking away with predefined targets/stops at certain levels helps results.

It's something worth checking into if you haven't already.

Itchymoku

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Please visit this thread for more information.
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  #187 (permalink)
 alejo 
madrid spain
 
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the unplug process is on
cancell in hold TS
shut all charts down
the first week completely off,
the last day watching the EOD
working in my job, try to put things in order
really the time i can dedicate to learn to trade need to be decreased
i need to stop the idea to replace my income with trading
i realize that the message i have received and i reject, about to stop trading were good advice
it is not possible to earn market from the market first
finishing the book about the kelly and the scientist, shanon, etc.
i go to reread and take notes form the @wldman thread
i will study the kelly criterion, and measure the risk with minilots

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #188 (permalink)
 wldman 
Market Wizard
Chicago Illinois USA
 
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@alejo

I believe that you are taking a correct step here. Do not be discouraged alejo, rather take some time to think things out and learn your specific approach. It is flattering that you want to read my posts as part of this process. It is important to note that even though I had an extensive screen and floor background prior to becoming a sole prop electronic trader I never had an easy time of it. The transition was and still is difficult at times. Where I am at as a trader is the result of over twenty years of hard work and a great deal of trial and error...focus on the error!

I have been lucky to have great mentors and to have been in the right place at the right time many times. This is hard work and I am certian that will never change. In my opinion consistent productive trading is as much due to preperation as it is to application. The psychological side in my opinion is prerequisite and many people never even think about that aspect.

I did not want to be live skype with you because I can't look after you with due care in the battle. If you are not trading, putting money at risk, I'd have a different opinion because then following me can't hurt you. I am not looking for devotees or following. I post mostly for my own benefit...so I can collect and filter information. Credible guys will also say that "helping" others helps them to stay on course...that is true for me as well.

I have a book to send you called, "How we Decide". The book is "popular nueroscience", has nothing directly related to trading, but relates directly in everyway. Check your inbox.

If anyone else wants to read that, let me know.

Be well alejo.

Dan

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  #189 (permalink)
 wldman 
Market Wizard
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@alejo

I'll read "How we Decide" togather with you one chapter at a time if you would like. We could discuss in the journal thread. I do not want you to plug back in until you are ready...maybe never , if it is hurting you or your family. I've seen guys lose everything, the least of which was money...sailing beam reach way past zero happens all the time.

Dan

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  #190 (permalink)
 alejo 
madrid spain
 
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wldman View Post
@alejo

I believe that you are taking a correct step here. Do not be discouraged alejo, rather take some time to think things out and learn your specific approach. It is flattering that you want to read my posts as part of this process. It is important to note that even though I had an extensive screen and floor background prior to becoming a sole prop electronic trader I never had an easy time of it. The transition was and still is difficult at times. Where I am at as a trader is the result of over twenty years of hard work and a great deal of trial and error...focus on the error!

I have been lucky to have great mentors and to have been in the right place at the right time many times. This is hard work and I am certian that will never change. In my opinion consistent productive trading is as much due to preperation as it is to application. The psychological side in my opinion is prerequisite and many people never even think about that aspect.

I did not want to be live skype with you because I can't look after you with due care in the battle. If you are not trading, putting money at risk, I'd have a different opinion because then following me can't hurt you. I am not looking for devotees or following. I post mostly for my own benefit...so I can collect and filter information. Credible guys will also say that "helping" others helps them to stay on course...that is true for me as well.

I have a book to send you called, "How we Decide". The book is "popular nueroscience", has nothing directly related to trading, but relates directly in everyway. Check your inbox.

If anyone else wants to read that, let me know.

Be well alejo.

Dan

thank your help and support!

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  #191 (permalink)
 alejo 
madrid spain
 
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@alejo

I'll read "How we Decide" togather with you one chapter at a time if you would like. We could discuss in the journal thread. I do not want you to plug back in until you are ready...maybe never , if it is hurting you or your family. I've seen guys lose everything, the least of which was money...sailing beam reach way past zero happens all the time.

Dan

I would like to do it, thanks again Dan

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  #192 (permalink)
 alejo 
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slow down

reading the book, sharing and thinking

reading the thread @wldman, taking notes, and thinking

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  #193 (permalink)
 Cloudy 
desert CA
 
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Hi Alejo, Sorry about the recent turn of events. I thought Welly192's scalping was working fine for you a few weeks ago. Just my 2 cents. I would suggest maybe learning more "context" if you hadn't done so already. Maybe try out
Al Brook's videos. Are you still trading the ES? The ES is so difficult. It's probably the futures instrument most infiltrated by HFT and it's the biggest volume index futures. So yes, it may make a move like with a fakeout "trend" in the first hour or so, then a trend in the other way. Not every day, but ending up from day to day, some kind of overall difference. But it's harder to see it just from a 2000 tick with all the turns. I'm thinking Welly192's method works for now because it kind of knows where to make the opposite turn scalps after the HFT/algo stoprunning on each bend
as he claims his method is counter-intuitive to begin with. Maybe just having an extra chart, daily or hourly/15min showing the overall swinging of the ES can help. I know you are hands-off mode, so this is all just a sim or back history viewing suggestion.

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  #194 (permalink)
 Itchymoku 
Philadelphia
 
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@alejo

I dk if you already tried trading zf,zn, or even zb (I saw you liked some posts where people were discussing them) but they're very predictable instruments to trade intraday if all else fails. There's a lot of benefits to trading these instruments

- commission is a lot less
- they offer many instances to scale out and think about what you're doing. (builds discipline)
- they obey s/r lines & hh/LL more so than most other instruments
- if you lose power or internet they usually won't move far enough to do much damage in a 5 minute time frame to call the broker.
- extremely liquid

I really enjoy trading these futures because they rotate so much they're almost like a slowed down dummy version of the ES.

I've come to the conclusion that the bottom line is to make money even if that means sacrificing the entertainment value of fast moving instruments.

Itchymoku

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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 alejo 
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Cloudy View Post
Hi Alejo, Sorry about the recent turn of events. I thought Welly192's scalping was working fine for you a few weeks ago. Just my 2 cents. I would suggest maybe learning more "context" if you hadn't done so already. Maybe try out
Al Brook's videos. Are you still trading the ES? The ES is so difficult. It's probably the futures instrument most infiltrated by HFT and it's the biggest volume index futures. So yes, it may make a move like with a fakeout "trend" in the first hour or so, then a trend in the other way. Not every day, but ending up from day to day, some kind of overall difference. But it's harder to see it just from a 2000 tick with all the turns. I'm thinking Welly192's method works for now because it kind of knows where to make the opposite turn scalps after the HFT/algo stoprunning on each bend
as he claims his method is counter-intuitive to begin with. Maybe just having an extra chart, daily or hourly/15min showing the overall swinging of the ES can help. I know you are hands-off mode, so this is all just a sim or back history viewing suggestion.

thanks for your support, but i need to work more with me, to see if i am able to do this as @wldman says, the right mindset is a prerequisite

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #196 (permalink)
 alejo 
madrid spain
 
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Itchymoku View Post
@alejo

I dk if you already tried trading zf,zn, or even zb (I saw you liked some posts where people were discussing them) but they're very predictable instruments to trade intraday if all else fails. There's a lot of benefits to trading these instruments

- commission is a lot less
- they offer many instances to scale out and think about what you're doing. (builds discipline)
- they obey s/r lines & hh/LL more so than most other instruments
- if you lose power or internet they usually won't move far enough to do much damage in a 5 minute time frame to call the broker.
- extremely liquid

I really enjoy trading these futures because they rotate so much they're almost like a slowed down dummy version of the ES.

I've come to the conclusion that the bottom line is to make money even if that means sacrificing the entertainment value of fast moving instruments.

Itchymoku

thanks for your support, i do not how to trade, also i was in a adiction situation, then i stop, and take a look more distant, now i am try to undersatnd how my mind work and why is so difficult to made the right decisions to trade.
i am working with @wldman reading how to trade and commnet about that, and i try to find out how can i re try this, but i need to build/manage a different way to think/decide/control, otherwise i fail again
today is the 2 years i start to trade, and really it was a very sad and bad experiencies for me, lot of $, time, live i left there,

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #197 (permalink)
 wldman 
Market Wizard
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@alejo

I want to be sure that you understand that I can only make suggestions for you based on my experience and that I am not a guru...just a guy that does not want to see an honest and good man like you suffer needlessly. Trading is a very difficult and competitive way to try to make money. What I want you to do is change your pattern, stop trading and start to consider things from a different perspective. IMO when your focus is on losing you attract more opportunity to lose into your life. When you lose and it becomes ordinary you start to accept and expect to lose.

One of the hardest things for me still, but something that I must do is kill the losers when they are little. When you kill those little bastards small you can stack them up till you can stand on the pile to increase your view. We learn to love the little loser for the service it provides in guiding us to what we seek.

I hate to lose...even a few ticks, but I know that I have to get through that while gaining from the experience.

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  #198 (permalink)
 alejo 
madrid spain
 
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i am comment this on wldman thread

ch1


ch2


ch3

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  #199 (permalink)
 tturner86 
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wldman View Post
@alejo

I'll read "How we Decide" togather with you one chapter at a time if you would like. We could discuss in the journal thread. I do not want you to plug back in until you are ready...maybe never , if it is hurting you or your family. I've seen guys lose everything, the least of which was money...sailing beam reach way past zero happens all the time.

Dan

Dan is an awesome man.

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  #200 (permalink)
kernel
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Actually self-coach trading is the only working method to develop profitable trading strategy. Following signals and webinars just embarass you from your own advancement, stuffing head with ideas that you need to sort out before to use.

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