NexusFi: Find Your Edge


Home Menu

 





Like a turtle to his balcony...


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one GaryD with 1,625 posts (688 thanks)
    2. looks_two josh with 67 posts (106 thanks)
    3. looks_3 greenr with 51 posts (53 thanks)
    4. looks_4 Deucalion with 28 posts (77 thanks)
      Best Posters
    1. looks_one Deucalion with 2.8 thanks per post
    2. looks_two josh with 1.6 thanks per post
    3. looks_3 greenr with 1 thanks per post
    4. looks_4 GaryD with 0.4 thanks per post
    1. trending_up 225,776 views
    2. thumb_up 1,158 thanks given
    3. group 36 followers
    1. forum 1,905 posts
    2. attach_file 1,043 attachments




 
Search this Thread

Like a turtle to his balcony...

  #211 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

In talking to another trader here, someone in their first year, and trying to put the pursuit of "learning to trade" or getting a "trading education", into a nutshell, I came up with this thought; Succesful trading requires one to experience many things that cannot be taught but must be learned.

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Better Renko Gaps
The Elite Circle
Are there any eval firms that allow you to sink to your …
Traders Hideout
Futures True Range Report
The Elite Circle
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
65 thanks
Funded Trader platforms
41 thanks
Battlestations: Show us your trading desks!
29 thanks
NexusFi site changelog and issues/problem reporting
23 thanks
The Program
19 thanks

  #212 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,393 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,530


GaryD View Post
In talking to another trader here, someone in their first year, and trying to put the pursuit of "learning to trade" or getting a "trading education", into a nutshell, I came up with this thought; Succesful trading requires one to experience many things that cannot be taught but must be learned.

How about: A successful trader is a trader who has already made all the mistakes.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #213 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011



Big Mike View Post
How about: A successful trader is a trader who has already made all the mistakes.

Mike

It's a long list, but it gets shorter.

Started this thread Reply With Quote
  #214 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

When I first decided to be a trader I was brave and optimistic. I freely told friends and family that I was going to learn to daytrade, and about 50% of them even said, "you know, never thought about that, but you would be great...". I was proud of it maybe even, because it seemed somewhat like intelligence and hard work meets the X-games.

Later, it became something awkward to talk about. Catching up with people, having a drink, "How is your trading going?", they would ask. And the answer changed over time, ran one direction or the other for awhile.

Then it progressed to being able to say I was doing it. And calling myself a "trader" was something to be proud of maybe even. I can look back at my first post here on futures.io (formerly BMT) and see where I was in that process. But you may learn how to make money here, or survive here, or catch some good rides, but overconfidence is the next sin. The next part I would prefer not to describe, but it is not fun.

Today I am enjoying trading, and hoping I do not even think about the money. It felt this past week like a few guys getting together to play some game. The rules are not that complictated; take what you know, apply it, share it, and figure out how it works together.

We had a birthday party at the house I am renting, and I opened the house up. Fireplace burning, house speakers set low. The house did not really have an extra room, but the main area is large and my trade desk is currently front and center. I am happy to sit at it and offer to play it like a piano if anyone willing to see will watch, and at least 9 of 10 politely decline.

Tonight, a neigbor had owned Apple stock as it fell off a cliff, and I sat down with her to look at basic chart structure. And as we later went through the residual talk, I was proud of it maybe even, because it seemed somewhat like intelligence and hard work meets the X-games.

The world moves in cycles. What was will be again, what is will cease to be, and the only constant is change. But even in that there is probability. And Market Profile fits that way of thinking.

Started this thread Reply With Quote
  #215 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011




Fin-algo ended, going to try one week without. New screen layout. Using GomMP, added Gom delta volume on ladder.

Started this thread Reply With Quote
  #216 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


Started this thread Reply With Quote
  #217 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

It is not my job to know what the market is going to do. It is my job to know what I am going to do if the market does x.

Started this thread Reply With Quote
  #218 (permalink)
 
mokodo's Avatar
 mokodo 
Bridgwater, UK
 
Experience: Beginner
Platform: Ninjatrader
Broker: MB Trading
Trading: Forex
Posts: 385 since Jun 2011
Thanks Given: 525
Thanks Received: 348


GaryD View Post
What I can say is different for me today is that I gave up trying to make complete sense of it

Gary, this is has been dawning on me for a few months now and as a result the challenge appears much more straight forward. Thanks for your journal, I love your perspective.

know thyself
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #219 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Today's price action was down, but it wedged itself into major support, psychologically locking me out of trading. I started to scalp and realized I should quit. There are better conditions than that.

Started this thread Reply With Quote
  #220 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011


I allowed myself to get shaken out of a long entry today. Not that I was taking heat, but I had lost my confidence in the trade going forward. Caught the bottom of a hard move down, but had been wrong once already for the day. I tend to be more interested in scalping back my loss than taking a true win sometimes, and today was one of those.

I am being very selective about my trades, feeling very calm about them, making money, no large losses, good numbers overall... and even with all of that, something like what I did today has been running trough my mind off and on for the past 5 hours. I'd almost rather get stopped out than have my confidence fail.

Price had come down into deep support, this time being a cocktail of some favorite numbers; Major 618, Major trendline, Major pivot area, and XFib2, all within a 30 cent range. The only thing more I could have asked for was the exact mindset I neeeded in that moment. I bought around 89.45ish, then jumped out to think. I was not looking for a long distance trade, I was looking to get positive on the day. I know the saying, "Be careful what you ask for", but had momentary amnesia from being shaken too hard.





I have been stalking a reversal for at least a week now, 5 entries today, all from the long side. I joke with myself that it is because my chart backgrounds have all been changed to white recently. Ryan Green was trading short on Friday, I was all long, his charts were black, mine were white, it wwas almost like we were synchronized. Classic.

I like the white background better, it just feels happier. Tougher to read sometimes (I need a new color for XFIBs, most things actually. Black is the best for contrast), but keeping the mood up is worth it. Black charts seemed to get very hypnotic after awhile.

Started this thread Reply With Quote





Last Updated on August 5, 2013


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts