Today going to try to trade without profit targets. Removing targets from the ATM, and only leaving ATM stops.

I know right clicking on the stop has an option to separate out the individual contract stops.
Does anyone know how to close out 1 contract early without a profit target? Unlike profit targets (move below/above current price to auto close), if a stop is moved above the current price it just returns an error. Especially if the price is moving quickly, chasing the price with a stop because I want to close out early can lead to losing a bunch of ticks. There must be a way to partially close the position, but I don't see it on the chart trader or even in the control panel positions/orders views.

Or I guess I can leave profit targets in the ATM, and just set them initially very high, and primarily use them as a way to partially close early.

If anyone is interested, I modified the enhanced tick counter indicator to also include the time next to the current price bar. I've even included changing the font on the tick counter and time independently in indicator settings. Feeling like I'm making good progress learning how to modify indicators.

A month in review. Lost about $2500.

I've experienced significant emotional highs and lows this month. Just when I thought I had it figured out, I downward spiraled over 2 recent days, losing the entire month of gains + $2500 initial capital. Looking back now, I don't think I had it figured out at all, but was just lucky.

I feel like I have all of the individual components in theory figured out in my head, but I can't fit them together in practice into a consistently profitable month.

Like I'm right on the cusp, but keep sliding backwards.

For everyone using excel to log their trading, this tip will create a pop up picture for mouse over preview of links. This way you can easily mouse over to view your previous trades in excel.

https://www.extendoffice.com/documents/excel/1906-excel-shouw-image-on-mouseover.html

Today is the 1st day of the new month for me, and I'm restarting with a new method.
I've reviewed all of my trades for June, and here's what I've found in common:

1. All winning trades were entered after congestion/traps around previous support/resistance zones.
2. All losing trades were entered prematurely before the congestion/traps played out around support/resistance zones
3. Stop loss was too tight. Instead of placing the stop loss below the previous bar, place it below the previous swing instead.

I think the lesson here is the importance of patience for entries. Especially in a price breakout, entering a bar or two late doesn't matter as much because you're betting that the price will be moving for 5-10+ points to the next support/resistance zone.

• I've restarted the journal today at 1 contract.
• Initial stop placed 1 tick below previous swing.
• No profit target
• Trailing stop 1 tick below previous bar as price moves towards a previous support/resistance zone

Today's trade 7/6/2020:

• Risked 15 ticks
• Exited at +12 ticks

I am stuck in a very unhealthy loop that I need to break out of.

On winning days, I am having trouble finding the will power to do other life responsibilities, e.g. responding to mail, calling people back, chores, etc.
On losing days, its the same procrastination from winning days but multiplied by 100x.

I am reminded of this post about procrastination being driven by our desire to avoid difficult emotions.
https://news.ycombinator.com/item?id=23537317


I don't know if there's something I can use to help, or if I just need to man up and power through. Problem with powering through is that it's only good for that day, and does not persist into a habit. Something needs to change.

Can anyone recommend a good plan for quickly learning Sierra Chart?
Finally have access to AMP/CQG for trading HSI futures.
Coming from NT, Sierra Chart is not as intuitive. Would rate 2/10 on UX so far.

A lot of customization in SC, feels like overload for a new user.
Wish there were better preconfigured defaults to choose from.

planetkill 

Can anyone recommend a good plan for quickly learning Sierra Chart?

Sorry, no such thing, sadly. Many have yearned for this. No one has found it.

Quoting 

Finally have access to AMP/CQG for trading HSI futures. Coming from NT, Sierra Chart is not as intuitive. Would rate 2/10 on UX so far. A lot of customization in SC, feels like overload for a new user. Wish there were better preconfigured defaults to choose from.

More like -5 out of 10. I say this as a long-term, enthusiastic and committed Sierra Chart user who will never go back to NT. But.... the learning curve is legendary, and unfortunately the user "help" documentation is harder to figure out than the user interface, at least until you get used to it.

However, those of us who have pushed through are happy with it, even fanatical. It will do just about anything you want. I am convinced that somewhere in the documentation, if I can only find it, are settings to have it wash your car and walk your dog.

Seriously, it is a very good platform and when you begin to see the logic of it -- which takes some time -- you do begin to appreciate it and to put it to use, even find it easy. But the initial learning curve is very steep.

I think the best thing is to just find out how to do the first things you want, and gradually go step by step and expand your knowledge. It does get better.

Good luck with it.

Bob.

7/14 - Amazing conditions at today's opening 30 minutes for my new method! +60 ticks on 1 contract, 2 trades.

After yesterday's narrow chop I was hesitant to practice with scaling up a 2nd contract. Of course in hindsight that 2nd contract today would have made a killing on both trades, as it would have for most of last week. Going back to yesterday, the 2nd contract would have increased my loss, but I've been manually closing out before the full stop loss is hit if the price quickly rubber-bands after my entry, so it wouldn't have been to much more of a loss yesterday.

I'm now working on an indicator that will automate the trade management for me. I don't think I can ever automate the initial entry because it is too complex, and my intuition is often part of the entry (edge). But once in the trade, I'm using clearly defined mental rules for when to close early, when to start trailing the stop loss, and where to take profits. So essentially an indicator to automate the rest of the execution after the initial trade decision. This should also alleviate the fear stopping me from scaling up as the position moves in my favor. Where traditional scalping strategies would close out with a fixed profit target is exactly where I want to be scaling up.

For this journal, I've found that writing my thoughts has been very beneficial to me. The addictive nature of posting publicly also helps to reinforce the habit compared to a private offline journal. On the other hand taking screenshots and annotating them / removing personal info for public posting has been largely a waste of time. Going forward I'll continue with the part of the journal that has value to me.

Thank you for the encouragement! I will push through.

In a previous career I worked in fintech selling software to the world's largest buy & sell side players. It had the worst UX with a UI stuck in the 90s, but under the hood it was bleeding edge with monthly updates. A typical user would only use 5% of it's functionality. Now I know how those clients felt, because to me the software was 2nd nature working on the other side.

From your's and other's account of SC, it sounds like it is the same. And will be worth the time investment at the end.

bobwest 

Sorry, no such thing, sadly. Many have yearned for this. No one has found it. More like -5 out of 10. I say this as a long-term, enthusiastic and committed Sierra Chart user who will never go back to NT. But.... the learning curve is legendary, and unfortunately the user "help" documentation is harder to figure out than the user interface, at least until you get used to it. However, those of us who have pushed through are happy with it, even fanatical. It will do just about anything you want. I am convinced that somewhere in the documentation, if I can only find it, are settings to have it wash your car and walk your dog. Seriously, it is a very good platform and when you begin to see the logic of it -- which takes some time -- you do begin to appreciate it and to put it to use, even find it easy. But the initial learning curve is very steep. I think the best thing is to just find out how to do the first things you want, and gradually go step by step and expand your knowledge. It does get better. Good luck with it. Bob.