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New Year New Strategy! Here we go...


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New Year New Strategy! Here we go...

  #11 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
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So I trade all hours. If I trade I trade. If I'm not I don't. Pretty much that simple.

So here is the results starting with Sunday April 11th.

-25 tick loss.

Good start. Lol

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  #12 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
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So yesterday went a little better than Sunday.

Considering the kind of day it was the fact that I was profitable was pretty good and yet it was completely disappointing to me as I missed "playing the range" as I like to call it.

I missed 4 trades... one by one tick!!!

As Im mostly an Always-In trader those ranges can up to as much or more that a big range day.

So instead of catching the ups and downs (which I tried with limit orders) I just held through it all and got out when profitable.

Still an OK day.

+56 tick profit.

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  #13 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
Platform: Ninjatrader, MT4
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Trading: Futures CFDs
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Here are the stats...
Sandpaddict View Post
So yesterday went a little better than Sunday.

Considering the kind of day it was the fact that I was profitable was pretty good and yet it was completely disappointing to me as I missed "playing the range" as I like to call it.

I missed 4 trades... one by one tick!!!

As Im mostly an Always-In trader those ranges can up to as much or more that a big range day.

So instead of catching the ups and downs (which I tried with limit orders) I just held through it all and got out when profitable.

Still an OK day.

+56 tick profit.



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  #14 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
Platform: Ninjatrader, MT4
Broker: IB, Global Prime
Trading: Futures CFDs
Posts: 684 since Mar 2020
Thanks Given: 975
Thanks Received: 637

So yesterday I was upset because I was trying to catch reversals and the market just kept missing my limit orders by a tick or two here and there. Over and over.

Well today I'm on my 7th profitable reversal. Averaging around 12 ticks each. Not bad.

Im in my 8th trade now. Updated later.

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  #15 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
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I decided to post my chart as well. It might be mess to others but its a thing of beauty to me.

This covers sunday through mid morning April 13th.

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  #16 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
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In the last chart I posted you can see where my orders were. It was a failed breakdown which I've been playing all day (both failed breakouts and breakdowns)... Yet I went short!?!!

Realizing afterwards that was not the smartest trade I placed another order at the top of the range thinking about the possibility of it reaching the outer bounds, coming back through one more time taking me to profits at the bottom of the range... and maybe beyond?

It DID happen. But exactly in the reverse.

I sold at the bottom sold more at the top of the range as it broke out and never came back.

From there I basically followed the rules and waited for a pullback before exiting.

And because I had such a good morning Im still in the green today... barely.

Really I could have cut as soon as it broke higher but I was waiting for a pullback which never came. Over time this is the right way to trade it for me.

Maybe I could have limit ordered out below as it was running away but I didn't even get enough of a pullback for that. Except for one small exception at the beginning of the move.

The truth of the matter is I never should have taken that short in the first place.

Everything after that I think was OK.

No two trades are identical so we'll have to wait and see. Study and learn.

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  #17 (permalink)
 
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 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
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I trade basically from U.S. time 8am EST till around 11pm EST.

Not all the time but thats my window.

My stats seem to be off the RTH/ETH maybe? Not sure. Will have to watch as confused by this a little as from yesterday morning till the evening I was a little above breakeven for the day.

I know the stats are correct. Just not sure when they reset. Will look into.

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  #18 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
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With the way I trade patience is a double edged sword... And you have to dance on the tip of it.

I find myself holding BOTH winners and losers too long.

The result is better than jumping in and out but my biggest problem right now I think is not cutting soon enough.

And the reason for that is if I'm in a long trade and the markets going short and not coming back to let me go short I'm...

1) In a losing trade and...

2) and MORE IMPORTANTLY im ALSO losing out on the profits the other way! DOUBLE EDGED again.

As I become more proficient at knowing what a large loss is in comparison to a large win ON AVERAGE is for me and this system I believe I will get better and better.

Lastly I notice I trade ranges mostly and breakouts are my kryptonite IF I'M ON THE WRONG SIDE (they are my big money makers otherwise).

But as an "Always-In" trader I have to take some heat sometimes. Back to the double edge sword analogy.

Things are good though.

DON'T CHANGE YOUR STRATEGY!

TRUST YOURSELF AND THIS SYSTEM.

Its finally working!




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  #19 (permalink)
 
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 bobwest 
Western Florida
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Sandpaddict View Post
This is sort of a reset of my journal.
...
I guess you could say Im breaking even in my trading as I haven't had to add too my account in a long time and thats a plus for me. It goes up it comes down it goes up it comes down. But its not consistently going down.

This is a good result, which is very hard to get to, so congratulations.

I hope the new journal helps you move ahead.

Good luck.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #20 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
Platform: Ninjatrader, MT4
Broker: IB, Global Prime
Trading: Futures CFDs
Posts: 684 since Mar 2020
Thanks Given: 975
Thanks Received: 637



bobwest View Post
This is a good result, which is very hard to get to, so congratulations.

I hope the new journal helps you move ahead.

Good luck.

Bob.

Thank you Bobwest. I appreciate that. Especially coming from you.

I guess I should give it some gravity as it's been years of just barely treading and losing repeatedly.

It's nice as my strategy is finally comfortable for me. I trust when I'm down ill be back.

I know when I'm wrong or trading badly now because I know where my profits and losses come from.

I'm trading super small but working on consistency now.

Thank you for your kind words.

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Last Updated on May 18, 2021


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