NexusFi: Find Your Edge


Home Menu

 





Mike's price action video journal.


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one saiga with 45 posts (55 thanks)
    2. looks_two ghl123 with 4 posts (6 thanks)
    3. looks_3 Bri219 with 2 posts (2 thanks)
    4. looks_4 Pauley with 2 posts (2 thanks)
      Best Posters
    1. looks_one SteveH with 5 thanks per post
    2. looks_two Masber2000 with 2 thanks per post
    3. looks_3 ghl123 with 1.5 thanks per post
    4. looks_4 saiga with 1.2 thanks per post
    1. trending_up 12,187 views
    2. thumb_up 85 thanks given
    3. group 11 followers
    1. forum 63 posts
    2. attach_file 0 attachments




 
Search this Thread

Mike's price action video journal.

  #41 (permalink)
saiga
Oakley Kalifornia
 
Posts: 98 since Sep 2012
Thanks Given: 75
Thanks Received: 103

Thanks Pauley!

Its amazing how much of our trading decisions become emotional based. When I was trading futures a lot of my bad trades were based on bad logic and strategy. Now that I am trading extremely small in forex, its more ego driven and rules are more easily broken. When risking more money I seem to abide by my rules better!

With trading there seems to be a trade off for every decision you could possibly make.

I believe that all we have to do is continue trading and plan to be in the game for years and years. When I read Market Wizards a lot of the traders believe its about staying in the game long enough for everything to click.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Futures True Range Report
The Elite Circle
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
36 thanks
NexusFi site changelog and issues/problem reporting
25 thanks
The Program
20 thanks
GFIs1 1 DAX trade per day journal
19 thanks
  #42 (permalink)
saiga
Oakley Kalifornia
 
Posts: 98 since Sep 2012
Thanks Given: 75
Thanks Received: 103


Reply With Quote
Thanked by:
  #43 (permalink)
saiga
Oakley Kalifornia
 
Posts: 98 since Sep 2012
Thanks Given: 75
Thanks Received: 103


To the person who gives me a thumbs down on most of my videos;

Can you please tell me what I am doing wrong or have any suggestions when it comes to the videos? Any trading advice?

I don't mind the thumbs down as I am here to learn, I would just like to know why because If I am doing something wrong I want to correct it.

Reply With Quote
  #44 (permalink)
 arthureld 
Montezuma, Puntarenas / Costa Rica
 
Experience: Intermediate
Platform: Think or Swim, Interactive Brokers
Trading: Stocks
Posts: 33 since Mar 2013
Thanks Given: 26
Thanks Received: 26

I enjoy your videos saiga
Thanks

Reply With Quote
Thanked by:
  #45 (permalink)
Bri219
Altamonte Springs,FL
 
Posts: 72 since Jan 2012
Thanks Given: 481
Thanks Received: 231

Nice journal you have here Saiga. I have seen your videos on Youtube and also have given some positive feedback on your analysis. I use the name Bripowered . May your account stay in the green,keep up the good work.

Reply With Quote
Thanked by:
  #46 (permalink)
saiga
Oakley Kalifornia
 
Posts: 98 since Sep 2012
Thanks Given: 75
Thanks Received: 103

Thanks Arthureld and Bri209 for the support! The positive feed back helps a lot! I really appreciate the feed back!

Best of luck with your trading!

Reply With Quote
  #47 (permalink)
saiga
Oakley Kalifornia
 
Posts: 98 since Sep 2012
Thanks Given: 75
Thanks Received: 103

Thanks Bri for commenting on my other videos by the way! I definitely need the encouragement!

Reply With Quote
Thanked by:
  #48 (permalink)
saiga
Oakley Kalifornia
 
Posts: 98 since Sep 2012
Thanks Given: 75
Thanks Received: 103


Reply With Quote
Thanked by:
  #49 (permalink)
saiga
Oakley Kalifornia
 
Posts: 98 since Sep 2012
Thanks Given: 75
Thanks Received: 103

After 2 weeks Amazon finally delivered Bob Volman's price action book. I only read 5 chapters but so far I like his concepts. I did not get into the setups yet but from what I read, it makes me question what I should do next.

Here is a brief history of what I have done in the last year and seven months. I started looking into the markets in March of 2012.

I started looking for indicators and a holy grail of trading. I learned how to use some of them and threw them on my screen. I knew next to nothing about the markets and its instruments, at first stocks looked like the obvious choice until I found out about the day trading rule. So I learned about options and opened an options account with no margin to attempt to day trade..... Looking back it seems so absurd, but that's what I did. I blew half of that account before deciding to do some serious home work. I bought Al Brooks book Trading price action bar by bar. I was hooked and then decided to open a futures account to try scalping in November 2012. I continued to learn and improved but my scalping was horrible. I started to lose a lot of money. Looking back I was taking ridiculous trades.

In January I decided to go for swings at least 2 times my risk and I bought Al's trading course. I had my first profitable month in January, (marginally profitable). In February I lost my ass again and decided to change things up and made adjustments. In March I started trading tick charts and started doing better but not great. May I lost money. I have been hovering around BE or worse this whole year.

Last month I decided to trade spot forex instead of the ES because of position sizing, but so far I am not sure how I feel about it. I find my trading difficult to analyze because of how discretionary it is.

What I found intriguing about Volmans trading was that he goes for fixed stops and targets. I think that maybe it would be a lot easier to analyze if things were so black and white, right and wrong. It would be a lot easier to adjust my strategy in order to get a 60% edge.

What makes me nervous about his methodology is the 70 tick chart.

I have learned a great deal in the last year and am thinking about giving scalping another go. If I decide to be a scalper I would have to change brokers (tradestation has a 1.8 pip spread) or maybe use a higher tick chart like the one I'm used to, like a 150 and just go 20 pips for 20 pips.

I am not trying to directly copy anyone's methodology precisely but I am trying to learn from those already successful in order to trade the way which works best for me. I am not sure what works best yet so I am exploring all possibilities.

I am also considering trading larger time frames like the 15 looking for swings. I am not sure of anything just yet.

Any opinions on this matter?

Reply With Quote
Thanked by:
  #50 (permalink)
 ghl123 
London/UK
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Stocks, ES
Posts: 68 since May 2013
Thanks Given: 84
Thanks Received: 40


One word. Stay on SIM regardless the market or the instrument.


Unless you can either stay long enough on SIM or make money dont risk real money. Find out what you like and write down what happened in every step.

By the way not all Bob setups work these days. I was in contact with him before.


Good luck.

Reply With Quote
Thanked by:




Last Updated on October 16, 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