self coach trading

January 4th, 2014, 02:48 AM

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

January 4th, 2014, 02:52 AM

xelaar

@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

January 4th, 2014, 10:06 AM

alejo

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.

January 8th, 2014, 02:41 PM

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

January 9th, 2014, 05:17 PM

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

January 13th, 2014, 05:19 PM

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

January 15th, 2014, 01:48 PM

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

January 15th, 2014, 05:28 PM

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.

January 17th, 2014, 04:17 AM

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,

January 20th, 2014, 02:54 PM

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 setups

discarding 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:

self coach trading

Discussion in Psychology and Money Management

self coach trading