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Exits are the essence of trading. I don't worry about leaving money on the table as long as I get my profit. After a period (months) of consistent profitability then you can analyze your trades and either extend your contract out a few more ticks or add a second target to be more of a runner. That's what I do for ES, I trade three and take quick profits on one, a little more on the second and I try to let the 3rd run and often it stops out breakeven.
Can you help answer these questions from other members on NexusFi?
This is interesting and merits a further look (outside trading hours).
Have you seen the volume ladder thread in the VIP section? I'm curious how you compare the two. If you could post a few charts showing how you use this I'm sure everyone would find it interesting.
Have you tried to use Market Replay to review your trades ?
There are a lot of thingss you can improve doing so ( like trailing runners adding positions, etc)
I agree, for me market replay is the thing that makes ninjatrader stand out from all the rest. Thanks for the perfect trading idea, I will have to give it a go!
After a bit of reflection, I decided on a new journal template that I'm going to do for the month of February. I like the "perfect" trading in hindsight but that will no longer be the focus. My focus is now on identifying the mistakes that I make so that I can correct them. This is really the same idea as the perfect trading, just done a bit differently.
I'm not going to log every entry and exit, I rarely look at those. It's my analysis of my trades that counts more than the actual trade itself.
While trading whenever I enter or exit I use snagit to grab a photo. I then use these when doing the review so that I can see what I was seeing at the moment of the trade. Things look so obvious in hindsight but at the hard right edge they're not so obvious.
I hope this makes sense, if not please ask questions. Here's what it looks like and I'm attaching a template in Word format. I debated putting this into excel but I prefer Word, it's prettier to look at and I want to focus on the text and not the numbers.
How weird - we have arrived at exactly the same spot at exactly the same time.
Spooky.
One thing I noticed - your missed trade ( which was a very large trade) - you haven't outlined why you missed it - which would seem key for behaviour pattern spotting??
the rest is really good - liked the honesty.
I probably wasn't as explicit but basically I just misread the highest timeframe (HTF) and interpreted it as a false breakout instead of a pullback in a valid breakout. That's really subtle.
If we both arrive at the same idea then it must be good!
