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"It Always Comes Back"


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"It Always Comes Back"

  #31 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
Posts: 63 since Jan 2011
Thanks Given: 19
Thanks Received: 41

This 1st trade was a sim trade experiment. It was a slight violation of the rules by not moving the stop to just above entry after the 1st target was triggered.
My automatic settings placed the stop just below the Slower EMA so I left it there after the the 1st target (+3 pips) triggered.

After a while the price moved up above my entry so I adjusted the 2nd target and the stop up a little.

I was tempted to move the price up again with the stop but was feeling a funny greedy sensation so I decided to leave everything as it was.

The 2nd target triggered at +17.1 pips

Total Trade: +20.1 pips

I feel that I should have stayed a little longer - until the short counter trend arrow.

I used to be content with any profits at the end of the day regardless of the amount but now I find I'm discontent with anything but an exit at maximum profits.

I'm finding this to be a little disturbing.

I'm only making this one trade today because I have a webinar I want to attend and I also have to go to work.



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  #32 (permalink)
 
MWinfrey's Avatar
 MWinfrey 
Lubbock TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Stage 5 Trading
Trading: CL
Posts: 1,878 since Jul 2009
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sorge2000 View Post
This 1st trade was a sim trade experiment. It was a slight violation of the rules by not moving the stop to just above entry after the 1st target was triggered.
My automatic settings placed the stop just below the Slower EMA so I left it there after the the 1st target (+3 pips) triggered.

After a while the price moved up above my entry so I adjusted the 2nd target and the stop up a little.

I was tempted to move the price up again with the stop but was feeling a funny greedy sensation so I decided to leave everything as it was.

The 2nd target triggered at +17.1 pips

Total Trade: +20.1 pips

I feel that I should have stayed a little longer - until the short counter trend arrow.

I used to be content with any profits at the end of the day regardless of the amount but now I find I'm discontent with anything but an exit at maximum profits.

I'm finding this to be a little disturbing.

I'm only making this one trade today because I have a webinar I want to attend and I also have to go to work.


Attachment 33872

almost sound like you're making up rules as you go...been there and that isn't fun at all.

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  #33 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
Posts: 63 since Jan 2011
Thanks Given: 19
Thanks Received: 41



MWinfrey View Post
almost sound like you're making up rules as you go...been there and that isn't fun at all.

Not so much making them up but adjusting them. I'm trying to counter the emotions if that makes any sense.

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  #34 (permalink)
 
MWinfrey's Avatar
 MWinfrey 
Lubbock TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Stage 5 Trading
Trading: CL
Posts: 1,878 since Jul 2009
Thanks Given: 1,450
Thanks Received: 3,335


sorge2000 View Post
Not so much making them up but adjusting them. I'm trying to counter the emotions if that makes any sense.

I've never been successful adjusting during the trade. Just never seems to work out over the long run for me.

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  #35 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
Posts: 63 since Jan 2011
Thanks Given: 19
Thanks Received: 41


MWinfrey View Post
I've never been successful adjusting during the trade. Just never seems to work out over the long run for me.

You mean adjusting targets and stops?

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  #36 (permalink)
 
MWinfrey's Avatar
 MWinfrey 
Lubbock TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Stage 5 Trading
Trading: CL
Posts: 1,878 since Jul 2009
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Thanks Received: 3,335


sorge2000 View Post
You mean adjusting targets and stops?

yes...i set them and leave them alone. i also will move to be when my target is touched but not filled. i'm just not smart enough to do it any other way.

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  #37 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
Posts: 63 since Jan 2011
Thanks Given: 19
Thanks Received: 41


MWinfrey View Post
yes...i set them and leave them alone. i also will move to be when my target is touched but not filled. i'm just not smart enough to do it any other way.

You set them after you enter the trade. Adjusted to what the charts are telling you... support/resistance etc?

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  #38 (permalink)
 
MWinfrey's Avatar
 MWinfrey 
Lubbock TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Stage 5 Trading
Trading: CL
Posts: 1,878 since Jul 2009
Thanks Given: 1,450
Thanks Received: 3,335


sorge2000 View Post
You set them after you enter the trade. Adjusted to what the charts are telling you... support/resistance etc?

Nope...my atm sets them and I leave them alone. They are the same for every trade, every day.

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  #39 (permalink)
 sorge2000 
Wauseon, Ohio
 
Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker: thinkorswim / PFGBest
Trading: ETFs
Posts: 63 since Jan 2011
Thanks Given: 19
Thanks Received: 41


MWinfrey View Post
Nope...my atm sets them and I leave them alone. They are the same for every trade, every day.

I typically do the same.
I don't make any adjustments until the 1st target is hit then I move the stop to a little above the entry.
More than not, I'm stopped but I still have a profit. Some times, the price continues up and I make adjustments to the stop and targets until I get the exit indicator.

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  #40 (permalink)
 
MWinfrey's Avatar
 MWinfrey 
Lubbock TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Stage 5 Trading
Trading: CL
Posts: 1,878 since Jul 2009
Thanks Given: 1,450
Thanks Received: 3,335



sorge2000 View Post
I typically do the same.
I don't make any adjustments until the 1st target is hit then I move the stop to a little above the entry.
More than not, I'm stopped but I still have a profit. Some times, the price continues up and I make adjustments to the stop and targets until I get the exit indicator.

I have one target and use all in all out, no runners.

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Last Updated on May 31, 2011


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