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The Adventures of an Intuitive Daytrader


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The Adventures of an Intuitive Daytrader

  #101 (permalink)
prof
Amsterdam Netherlands
 
Posts: 9 since Jul 2018
Thanks Given: 3
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brunobt View Post
It's been almost 2 months since I started trading crude oil and things are going pretty well.

I think that the content of this thread is not useful the way it is (I don't want to post my PnL without a specific reason). Besides, my methodology is too subjective (but really very simple) and I can't describe the logic behind it (even to someone in the same room). "Confluence" is a relatively easy concept to grasp, but it's hard to apply it successfully in real-time...

Of course it's still a trading journal, so I'll write here only stuff I consider relevant, like the MANY mistakes (mostly cognitive biases) I do on a daily basis.

------------------------------------------------------------------------

Yesterday I had my first loss (-7k net). I was 8k positive and decided it was not ok: in my "analysis", the market had to fall 50 cents up to a dollar (!), 'cause I needed to prove myself I could do better than I've been doing so far. So I shorted 21 contracts @71.01 before lunch and got distracted doing stuff for hours... waiting for the market to obey me . And I was willing to hold my position till the end... and so I did. I exited before the interruption with 7k in losses for the day.

I wasn't even mad with myself. It was a cheap lesson, considering my stupidity. Today is another day and everything is still wonderful.

cheers


Even though you cannot explain your methodology, it has still been interesting for us at least. Maybe one day you want to mention something more about how you arrived at your methodology (even if unexplainable), how long it took, the different roads you traveled in the beginning.. Good to hear at least you learned a lesson yesterday!

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  #102 (permalink)
spetscom
Niles, Michigan
 
Posts: 73 since Sep 2018
Thanks Given: 83
Thanks Received: 113


brunobt View Post
It's been almost 2 months since I started trading crude oil and things are going pretty well.



I think that the content of this thread is not useful the way it is (I don't want to post my PnL without a specific reason). Besides, my methodology is too subjective (but really very simple) and I can't describe the logic behind it (even to someone in the same room). "Confluence" is a relatively easy concept to grasp, but it's hard to apply it successfully in real-time...



Of course it's still a trading journal, so I'll write here only stuff I consider relevant, like the MANY mistakes (mostly cognitive biases) I do on a daily basis.



------------------------------------------------------------------------



Yesterday I had my first loss (-7k net). I was 8k positive and decided it was not ok: in my "analysis", the market had to fall 50 cents up to a dollar (!), 'cause I needed to prove myself I could do better than I've been doing so far. So I shorted 21 contracts @71.01 before lunch and got distracted doing stuff for hours... waiting for the market to obey me . And I was willing to hold my position till the end... and so I did. I exited before the interruption with 7k in losses for the day.



I wasn't even mad with myself. It was a cheap lesson, considering my stupidity. Today is another day and everything is still wonderful.



cheers






It’s your journal do what you want, but the format you have been following has really helped me out. I’ll still follow it either way, but your posts haven’t been in vain.

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  #103 (permalink)
 
brunobt's Avatar
 brunobt 
Distrito Federal/Brazil
 
Experience: Intermediate
Posts: 83 since Apr 2014
Thanks Given: 77
Thanks Received: 150


Today I started to trade up to 45 contracts.

My first impressions:

1)it didn’t make any difference for me, I don’t feel any stress due to the bigger position (400/450 dollars per tick);
2)I can easily put 10, 20, 40 contracts orders (limit orders at ask/bid or 1 tick below/above, not market orders), even out of the main session hours (the market just absorb it like it was nothing);
3)I have never notice any robot/algo strange behavior.

TOS is freezing constantly during and after price spikes, it’s frozen right now and I just had to exit a position using the iPad.

Results: Won 8k. Lost 13k. Won 13k. Net 8k until now.

Latter I’ll do a “debrief” of today’s trades. Right now I’m refreshing my mind in a cold pool (until my rage due to the platform bug vanishes lol).


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  #104 (permalink)
 
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 cory 
virginia
 
Experience: Intermediate
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brunobt View Post
..

TOS is freezing constantly ...


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you should check out Tradovate, esp. you trade on mobile device.

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  #105 (permalink)
 
brunobt's Avatar
 brunobt 
Distrito Federal/Brazil
 
Experience: Intermediate
Posts: 83 since Apr 2014
Thanks Given: 77
Thanks Received: 150

Today I was scalping (5 and 1-minute chart) when prices went down strongly against my position. I decided to go with the flow and inverted to take advantage of the possible second leg down. I was particularly happy because I added more contracts and nothing was different (no fear and no greed from a psychological POV).

After a 2-hour pause, I noticed that prices were about to test the "long term" trendline. I shorted [email protected] in the microtrendline breakout and added 20 contracts 20 minutes later, when prices went strong against me (you should expect that before a spike in your direction).


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  #106 (permalink)
spetscom
Niles, Michigan
 
Posts: 73 since Sep 2018
Thanks Given: 83
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brunobt View Post
Today I was scalping (5 and 1-minute chart) when prices went down strongly against my position. I decided to go with the flow and inverted to take advantage of the possible second leg down. I was particularly happy because I added more contracts and nothing was different (no fear and no greed from a psychological POV).



After a 2-hour pause, I noticed that prices were about to test the "long term" trendline. I shorted [email protected] in the microtrendline breakout and added 20 contracts 20 minutes later, when prices went strong against me (you should expect that before a spike in your direction).



Attachment 257451



Man Bruno I admire your always-in approach. It seems to be working well for you.

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  #107 (permalink)
 Arch 
W.Coast, USA.
 
Experience: Intermediate
Platform: Anything
Trading: Emini
Posts: 347 since Jul 2017
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are you still trading using your same approach?

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  #108 (permalink)
 
michaelroth's Avatar
 michaelroth 
Gillette Wyoming
 
Experience: Beginner
Platform: ninjaTrader
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Arch View Post
Trading any size at all on a phone with less than 5% of battery life is nuts.

I read hundreds on FIO posts today. This was my favorite.

Day trading, so easy a caveman could do it.
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  #109 (permalink)
biotic
Ostrava Czech Republic
 
Posts: 23 since Mar 2018
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Very nice. I agree with your view on the market, even though I currently trade ES and have not touched CL for quite some time.

Big players move the market and it usually pays out to watch for traps.

I am currently trying to quantify my rather intuitive trading, though - trying to create some playbooks with repeating scenarios. In general for most traders trading intuitively is a killer, though - I feel that market movements are often so fast, that you need to know in advance, what to look out for. As soon as one starts to think while trading, he usually starts to lose money.

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