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Search: Posts Made By: mgcharl
Forum: Trading Journals July 19th, 2019, 07:45 AM
Replies: 413
Views: 54,852
Posted By mgcharl
I'm a subscriber! Mainly because I now want to...

I'm a subscriber! Mainly because I now want to hear what sound file plays when you reach a profit target! :becky:
Forum: Trading Journals June 21st, 2019, 05:54 PM
Replies: 298
Views: 33,434
Posted By mgcharl
Good answer. I look forward to following your new...

Good answer. I look forward to following your new journal.


Sent using the NexusFi mobile app (https://on.futures.io/app)
Forum: Trading Journals June 21st, 2019, 05:13 PM
Replies: 298
Views: 33,434
Posted By mgcharl
Just be careful that you’re not too results...

Just be careful that you’re not too results focussed, it’s an easy trap to fall into. Every winning trade is great, every loser a terrible mistake. Perhaps you were lucky on the first two and unlucky...
Forum: Trading Journals June 16th, 2019, 01:56 PM
Replies: 298
Views: 33,434
Posted By mgcharl
If you’re going to study Brooks it’s not a...

If you’re going to study Brooks it’s not a trivial undertaking, as I’m sure others will confirm. You need to be prepared to leave everything you think you know behind and start from scratch to get...
Forum: Trading Journals May 27th, 2019, 03:47 AM
Replies: 298
Views: 33,434
Posted By mgcharl
Good to see you’re looking into Brooks. I would...

Good to see you’re looking into Brooks. I would recommend that instead of fighting your way through his first book, you get his three newer books which are essentially a rewrite. I can also recommend...
Forum: Trading Journals May 22nd, 2019, 03:13 PM
Replies: 413
Views: 54,852
Posted By mgcharl
Good job on exercising patience. It’s not easy to...

Good job on exercising patience. It’s not easy to sit down to trade and not take any entries. Remember you can also use market replay to gain experience too and at this point you may want to...
Forum: Trading Journals May 20th, 2019, 04:09 PM
Replies: 413
Views: 54,852
Posted By mgcharl
I have no idea about volume profile to be honest!...

I have no idea about volume profile to be honest! I know the theory of market profile but after studying it for a while I decided it wasn’t for me. Everything I say is related to price action and the...
Forum: Trading Journals May 20th, 2019, 03:21 PM
Replies: 413
Views: 54,852
Posted By mgcharl
Most day traders only chart and trade RTH and...

Most day traders only chart and trade RTH and therefore would call today a trading range day.


Sent using the NexusFi mobile app (https://on.futures.io/app)
Forum: Trading Journals May 19th, 2019, 03:01 AM
Replies: 413
Views: 54,852
Posted By mgcharl
Hi Zach, I think this is the best post in...

Hi Zach,

I think this is the best post in your journal yet. It’s important to reflect on your journey and it’s obvious how much effort you’re putting into your trading. Unfortunately, I fear that...
Forum: Trading Journals May 18th, 2019, 02:00 PM
Replies: 199
Views: 21,663
Posted By mgcharl
I don’t think it’s about whether you are a...

I don’t think it’s about whether you are a good/profitable trader, if it was there wouldn’t be a lot of journals there! Rather, I think it’s about supporting the community.


Sent using the...
Forum: Trading Journals May 18th, 2019, 12:59 PM
Replies: 199
Views: 21,663
Posted By mgcharl
I concur, good job! Maybe it’s time to move your...

I concur, good job! Maybe it’s time to move your journal to the Elite Journals section? I think that if you are an Elite member this just makes sense.


Sent using the NexusFi mobile app...
Forum: Trading Journals May 14th, 2019, 09:24 AM
Replies: 199
Views: 21,663
Posted By mgcharl
You're welcome. Regarding the size of the loss,...

You're welcome. Regarding the size of the loss, try to think about it in terms of R rather in ticks, points or currency. It's just a 1R loss, right, no big deal. Almost all your losing trades should...
Forum: Trading Journals May 14th, 2019, 04:34 AM
Replies: 199
Views: 21,663
Posted By mgcharl
Don't beat yourself up, I don't think either...

Don't beat yourself up, I don't think either trade was bad. One thing I do is to check Al's blog post the next day to see if my entries are marked up on his chart. You can see that both of yours...
Forum: Trading Journals May 4th, 2019, 03:20 AM
Replies: 199
Views: 21,663
Posted By mgcharl
Good choice on switching to the RTH chart! I...

Good choice on switching to the RTH chart! I think this is what most day traders use. Obviously pay attention to the globex high and low but aside from that I think it only confuses your analysis, so...
Forum: Platforms and Indicators May 1st, 2019, 04:06 PM
Replies: 9
Views: 2,339
Posted By mgcharl
I had that problem too but managed to find a...

I had that problem too but managed to find a workaround. If you add a quoteboard and add the current contract you’re trading it must continuously poll the Rithmic API which prevents the timeout issue...
Forum: Trading Journals April 29th, 2019, 05:52 PM
Replies: 199
Views: 21,663
Posted By mgcharl
Nice trading! Btw, I don’t think it’s cheating to...

Nice trading! Btw, I don’t think it’s cheating to adapt your targets based on price action after entry. Especially if you see a few different possible targets, it makes sense. Just be careful, you...
Forum: Trading Journals April 27th, 2019, 01:28 AM
Replies: 199
Views: 21,663
Posted By mgcharl
You’re right about the signal bar you pointed out...

You’re right about the signal bar you pointed out on Trade 2, that was the trade of the day! Something I’ve been learning the hard way recently is you absolutely must wait for a good signal bar,...
Forum: Trading Journals April 26th, 2019, 12:55 PM
Replies: 199
Views: 21,663
Posted By mgcharl
I'd ignore actual risk and only look at initial...

I'd ignore actual risk and only look at initial risk. I think the best targets are based on MMs or some other obvious level that we might get to but there is so often a bounce or a reversal at 1R...
Forum: Trading Journals April 26th, 2019, 12:15 PM
Replies: 199
Views: 21,663
Posted By mgcharl
Do you mean actual risk or initial risk? In the...

Do you mean actual risk or initial risk? In the way Al defines it, the actual risk is the MAE + 1 tick of the trade. It's hard to calculate without the benefit of hindsight, although you could...
Forum: Trading Journals April 24th, 2019, 05:46 AM
Replies: 199
Views: 21,663
Posted By mgcharl
When measuring a 1R target like this, the logical...

When measuring a 1R target like this, the logical place for the stop is 1 tick above the high rather than at the high itself. In this case, your measurement is off by a tick, the target would have...
Forum: Trading Journals April 21st, 2019, 05:45 PM
Replies: 199
Views: 21,663
Posted By mgcharl
It's so easy to get trapped on breakouts like...

It's so easy to get trapped on breakouts like that, I have been many times! Always check for final flags if you're buying/selling late in a trend. A triangle that forms late in a trend is often the...
Forum: Emini and Emicro Index January 25th, 2019, 05:29 AM
Replies: 7
Views: 1,866
Posted By mgcharl
Leg 1 = Leg 2 Measured Moves are common. Watch...

Leg 1 = Leg 2 Measured Moves are common. Watch this video for an explanation:

https://www.youtube.com/watch?v=cRWGKdmTkKc

Hope that helps.
Forum: Trading Journals December 10th, 2018, 07:50 AM
Replies: 1,025
Views: 143,971
Posted By mgcharl
Sure thing. All I'm looking for is 3 pushes down...

Sure thing. All I'm looking for is 3 pushes down forming a reversal. You also notice how each leg in the bear trend is getting smaller as the bulls come in before it eventually reverses. I've marked...
Forum: Trading Journals December 10th, 2018, 07:09 AM
Replies: 1,025
Views: 143,971
Posted By mgcharl
I see a wedge reversal and a strong bull...

I see a wedge reversal and a strong bull breakout. On your entry bar, the market traded below a bear bar and there will be limit order bulls buying that low as it's the first pullback and two legs up...
Forum: Trading Journals October 4th, 2018, 08:35 AM
Replies: 108
Views: 15,409
Posted By mgcharl
That's an interesting statement and one I would...

That's an interesting statement and one I would debate. Perhaps this explains your current approach to trading? If you believe that markets are pretty much random, then you don't believe you can...
Showing results 1 to 25 of 31

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