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Catching Big Waves - a trader's journal of surfing the the markets
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Catching Big Waves - a trader's journal of surfing the the markets

  #161 (permalink)
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took one off at 12 ticks, moved stop up.

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  #162 (permalink)
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Profit target hit at 81.63. That is a 61 tick trade, plus a 12 tick kicker, for 73 ticks today. I am out, flat, and give myself an A+ on psychology today for not getting frustrated with two losing trades in a row this morning. Stepped back, looked at higher timeframes, watched volume, waited for a breakout, followed my rules, and was able to harmonize with the market.
instead of trying to fight thorugh the chop.

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  #163 (permalink)
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If this comes across wrong, I apologize. But, all of the financial details of today have already been posted in real time by showing the charts.

I am trying to emphasize a point that I mentioned when I started this thread, that trading succesfully does not necessarily require a high win percentage. My average, over long periods, typically runs around 60% wins, but you can be a great trader with only 30% wins. Today was 50/50, but I allowed the winners to run and stepped out when I realized I was wrong. Trying to be "right" all the time is an uphill battle. Allowing yourself to be right when you are right is much easier.

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  #164 (permalink)
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I have really enjoyed taking the time to create this post. I'm gald to have a site like futures.io (formerly BMT) to do something like this. But I'm seriously considering ending it soon, as it is very hard to show trades in real time by exporting images, uploading to the charts page, copying and pasting to the futures.io (formerly BMT) site, typing comments, etc, meanwhile the market is trying to say something to me but I am not listening.

The live trade comments were intended to help other traders see what it looks like to trade succesfully, what goes through a trader's mind, what some succesful concepts are. TRust me, I have paid dearly to learn what I learned. And I have attempted to pass some of it along for free. My motivation is not to sell any instructional course, ar have someone pay me to call trades. If you decide to learn to trade, it will be expensive enough on its own without paying for advice. If you want advice, buy a book for $30.00.

Study the markets as if nothing else in your life existed for as long as it takes until you finally have a solid understanding. It may take 2 years. It may take 10 years. And do not stop until you reach the point you want to be at. Don't keep pouring money into it, you cannot buy a profit, and you cannot move the market. You need to feel the market. But, I believe you will need to lose enough to make you WANT to trade simulated, make you so obsessed with figuring this out that you will study for months and trade "pretend" over and over and over, until you know that you know how to come out ahead.

Markets only go one of two directions, and after awhile the commentary becomes redundant. What I have shown is my way of adapting to a specific market's movements, but there are many other ways to make money. I could be long, and you could be short, and we could both end the day with a profit. My way may not work for you, especially because my "system" is far from being a system. I rely on a hard-earned relationship, and my goal is to understand what the market may be about to do the same as a couple that has been married for 20 years could finish each other's sentences. I don't even try to have a rigid ratio of "protift target a 35, stop loss of 20", or whatever. That does not mean I have not spent thousands of hours trying to engineer a profit. Just ask and I can send you hunderds of excel files of exported backtest results. I don't ever look at them. That is what was, trading is what will be. No indicator can save you.

I see that there have been a decent number of visitors to these posts, I hope I have been able to transfer something that benefits you. I'm actually not sure if anyone still reads these, and often feel like I am typing to myself. Not that it matters, as I started this to also reaffirm my knowledge to myself, to see if I could look at trading as if I had to explain it. To me, I did, but I'll never know how it was interpreted from anyone else's perspective. You never see yourself as the rest of the world does.

If there happens to be anyone that would like me to continue posting, or to post only certain things, let me know.

If you made it this far, thanks for hanging in there with me. If I can help, you know where I am. Make some money, and above all STAY SAFE!


P.S. Here is the performance report for the time period of this thread. All trades were not posted live or referenced in posts. My approximation is 90% of these trades were 1 contract, maybe 8% were 2 contract (but not for the entire wave,), and maybe 2% started with 3, but were reduced quickly, and all trades were in CL / crude oil futures.

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  #165 (permalink)
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GaryD View Post
I have really enjoyed taking the time to create this post. I'm gald to have a site like futures.io (formerly BMT) to do something like this. But I'm seriously considering ending it soon, as it is very hard to show trades in real time by exporting images, uploading to the charts page, copying and pasting to the futures.io (formerly BMT) site, typing comments, etc, meanwhile the market is trying to say something to me but I am not listening.

The live trade comments were intended to help other traders see what it looks like to trade succesfully, what goes through a trader's mind, what some succesful concepts are. TRust me, I have paid dearly to learn what I learned. And I have attempted to pass some of it along for free. My motivation is not to sell any instructional course, ar have someone pay me to call trades. If you decide to learn to trade, it will be expensive enough on its own without paying for advice. If you want advice, buy a book for $30.00.

Study the markets as if nothing else in your life existed for as long as it takes until you finally have a solid understanding. It may take 2 years. It may take 10 years. And do not stop until you reach the point you want to be at. Don't keep pouring money into it, you cannot buy a profit, and you cannot move the market. You need to feel the market. But, I believe you will need to lose enough to make you WANT to trade simulated, make you so obsessed with figuring this out that you will study for months and trade "pretend" over and over and over, until you know that you know how to come out ahead.

Markets only go one of two directions, and after awhile the commentary becomes redundant. What I have shown is my way of adapting to a specific market's movements, but there are many other ways to make money. I could be long, and you could be short, and we could both end the day with a profit. My way may not work for you, especially because my "system" is far from being a system. I rely on a hard-earned relationship, and my goal is to understand what the market may be about to do the same as a couple that has been married for 20 years could finish each other's sentences. I don't even try to have a rigid ratio of "protift target a 35, stop loss of 20", or whatever. That does not mean I have not spent thousands of hours trying to engineer a profit. Just ask and I can send you hunderds of excel files of exported backtest results. I don't ever look at them. That is what was, trading is what will be. No indicator can save you.

I see that there have been a decent number of visitors to these posts, I hope I have been able to transfer something that benefits you. I'm actually not sure if anyone still reads these, and often feel like I am typing to myself. Not that it matters, as I started this to also reaffirm my knowledge to myself, to see if I could look at trading as if I had to explain it. To me, I did, but I'll never know how it was interpreted from anyone else's perspective. You never see yourself as the rest of the world does.

If there happens to be anyone that would like me to continue posting, or to post only certain things, let me know.

If you made it this far, thanks for hanging in there with me. If I can help, you know where I am. Make some money, and above all STAY SAFE!


P.S. Here is the performance report for the time period of this thread. All trades were not posted live or referenced in posts. My approximation is 90% of these trades were 1 contract, maybe 8% were 2 contract (but not for the entire wave,), and maybe 2% started with 3, but were reduced quickly, and all trades were in CL / crude oil futures.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

GaryD.

I've only recently started to read your thread.
From what I've read so far it's obvious that you have absorbed a combination of ingredients that make up a formula for success. As you well know, those ingredients are unique to each whilst common to all.
In other words, we make them our own through experience.

I'm replying here in light of your last post to express gratitude to you for writing this thread.

I've experienced my own journey to understand what persistence, tenacity and endurance means for me and the lessons we gain in perspective from suffering and it is clear you have done the same.

I do not have a journal but can imagine how difficult it would be to maintain one and especially with the "live" interaction (ie charts and commentary) that you've given.

As I say, I'm still reading yours which will be here even if you stop, but and for what it's worth, I'm grateful for what you've put down on these pages and hope it's helped you as much as it ought to help anyone that reads them.

There's a sincerity from your posts that has kept me reading. Trading can and is often a very lonely business. It's as hard to share the success as it is the failure or set backs for all sorts of jumble up reasons. It's not easy to blend what is a very personal and life changing endeavour with and in "conventional" life, but it's clear that you have experience and insights from both. So as I say and for what its worth....thanks...

Every moment I wake up I realize I know nothing, and then I smile...

Last edited by zt379; August 11th, 2011 at 12:21 AM.
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  #166 (permalink)
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I'd like to see you continue posting.

I think your method is accessible to many futures.io (formerly BMT) members, and many can benefit from your journal.

If it is taking too much of your time as-is, you might consider just a daily recap. I also think it would be great to see a video recap, generally speaking I find making videos easier than making long detailed posts with marked up screen shots.

Good job.

Mike

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  #167 (permalink)
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Gary,

This seems to me to be more of a journal, so I didn't even know of it. I always like to read positive traders reports, so if it were in the journal section I think you would get a lot more feedback/impact?

Just my thoughts.

Good trading and have enjoyed reading some of your posts...

 
  #168 (permalink)
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bluemele View Post
Gary,

This seems to me to be more of a journal, so I didn't even know of it. I always like to read positive traders reports, so if it were in the journal section I think you would get a lot more feedback/impact?

Just my thoughts.

Good trading and have enjoyed reading some of your posts...


Yes, it did start turning into a journal, maybe I will post more of a journal there later. Or maybe Big Mike will decide it fits that section better and move this one. Glad to hear you enjoyed some of the posts.

 
  #169 (permalink)
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Big Mike View Post
I'd like to see you continue posting.

I think your method is accessible to many futures.io (formerly BMT) members, and many can benefit from your journal.

If it is taking too much of your time as-is, you might consider just a daily recap. I also think it would be great to see a video recap, generally speaking I find making videos easier than making long detailed posts with marked up screen shots.

Good job.

Mike

I did not realize it could be a video, but will take some time to look into it. I enjoy the posting, it also benefits me to look at my trading from an outside perspective, but I start feeling a little clumsy while in the middle of multitasking. Maybe I'll see if I can come up with a format that is easier and may still be useful.

Thanks Mike for the encouragement. You've done a great job here.

 
  #170 (permalink)
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zt379 View Post
GaryD.

I've only recently started to read your thread.
From what I've read so far it's obvious that you have absorbed a combination of ingredients that make up a formula for success. As you well know, those ingredients are unique to each whilst common to all.
In other words, we make them our own through experience.

I'm replying here in light of your last post to express gratitude to you for writing this thread.

I've experienced my own journey to understand what persistence, tenacity and endurance means for me and the lessons we gain in perspective from suffering and it is clear you have done the same.

I do not have a journal but can imagine how difficult it would be to maintain one and especially with the "live" interaction (ie charts and commentary) that you've given.

As I say, I'm still reading yours which will be here even if you stop, but and for what it's worth, I'm grateful for what you've put down on these pages and hope it's helped you as much as it ought to help anyone that reads them.

There's a sincerity from your posts that has kept me reading. Trading can and is often a very lonely business. It's as hard to share the success as it is the failure or set backs for all sorts of jumble up reasons. It's not easy to blend what is a very personal and life changing endeavour with and in "conventional" life, but it's clear that you have experience and insights from both. So as I say and for what its worth....thanks...


That means a lot. Thanks. Trading is a solitary journey, but you can still have friends to support you.


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