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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

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  #2171 (permalink)
 researcher247 
Chicago, IL
 
Experience: Advanced
 
Posts: 429 since Oct 2009
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92.25 is my smallest target
92.07 medium
91.85 largest

Perhaps that is where we rest for a bit before the London guys begin stepping into play?

peace

Hedvig

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  #2172 (permalink)
 greenr 
london/england
 
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GaryD View Post
Just sitting here staring at charts, adding and deleting lines to have some idea what my plan is for tomorrow, and this post kept repeating in my head. I should be trading far more contracts than I do by the rules you find acceptable, maybe if I started over with $5k it would be different.

Maybe had I not experienced such major losses over the past 5 years. I have some financial scars, and they are what holds me back more than anything. Futures trading is so highly leveraged, and I think I am just comfortable in my zone for now, knowing it is hard for me to get hurt the way I trade. I would love to have 20 contract trades, if they were all winners.

I am working up still, one contract here, then 3 there, held up to 5 contracts recently for 18-30 ticks, held 2 contracts through 15 ticks heat, baby steps. If I thought I could trade with a 6 tick stop that might also help, but I don't relax with a stop that close, CL is so jumpy. I could probably trade ES with a 6 tick stop, and have been watching it daily again for the past few months. Also watching 6E and TF, possibly looking at a market change and/or addition that would allow me to scale up easier.

At 1 contract though, I can take losses like they were nothing. I can add in and still feel ok, swap back and forth, and concentrate on the game and not the money. I am working very hard on the mental shift away from that, but mentioned before that I do not understand how to take a desire to increase size and separate it from an issue related to money. If it is not about the money, why step up to begin with? So the desire to step up comes from wanting to make more, which means I am thinking about the money. It is a circular discussion that I have had with myself for awhile now.

I do appreciate all the advice and words of encouragement. I'm not going anywhere, and will get where I want to be soon enough.

Just keep at it Gary your there i can smell it, give me your email address i want to send you some thing

Look I’m 24 and i started trading when i was 19. At the time i was getting paid just over $2,000 a month after tax in the uk. Do you know how long it took me to save up say $5k for education and then $5k for my 1st account to watch that $5k of hard earnt cash disintegrate into thin air in. One time 2 hrs and crude robbed over 6k off me from be in a novice in the markets and trading to big size

I was living at home with 2 sister that were 18 and 21 and my house was like world war 5!!!!!

For 3 years i didn’t go out like my mates, i did all the over time under the sun and studied like hell, when i finished paying 3-4 educators and still no light at the end of the tunnel, i then turned to forming my own understanding and then hit that mental barrier were i actually realised

1. Trading is mind games 80% and 20% methods
2. I need to trade probabilitys
3. I need a risk plan to protect myself and to not feel fear

I need to become the casino of the market allowing me not to lose

(I’m not kidding, iv had as low as 31% win rate and I still make bags)

I was so frustrated and i hated my life and this reflected on my family, my g/f`s and most important

!!MY BANK ACCOUNT!!

Now i have solid method, a great understanding and i have developed a trade plan that puts the risk and probability on my side and most important of all i have learnt how to train my brain to develop the mental skills required to trade

I don’t know you personally or your situation....but

I ready have read you have been a successful man, you have a house and a wife and i would assume you have money

Develop a method that puts the odds on your side

Then develop a risk plan to protect you and your account

Then develop the mental mind set to get the job done fear less, no hesitation

Once you start watching your account, adding the ticks, working out trade profits and losses before they even happen screw your HEAD UP!

Money is the end product of our work and out trades, so why worry about it if your protected

hope this helps

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
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  #2173 (permalink)
 researcher247 
Chicago, IL
 
Experience: Advanced
 
Posts: 429 since Oct 2009
Thanks: 265 given, 757 received



researcher247 View Post
92.25 is my smallest target
92.07 medium
91.85 largest

Perhaps that is where we rest for a bit before the London guys begin stepping into play?

peace

Hedvig

----------------------
Luck or skill; I'll take it (on 'largest' target overnight) of 91.85.

I passed out around 4am est. We had a low of 91.81.

Gary and I had that low price within a few ticks--nice work Gary.

Is everybody ready for another 'fight' today?

peace

Hedvig

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  #2174 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
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Posts: 6,462 since May 2011







Xfib1 was the turning pont. Good call @researcher247. Hope you got a lot out of that move.





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  #2175 (permalink)
 GaryD 
Orlando, Florida
 
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Posts: 6,462 since May 2011


researcher247 View Post
92.25 is my smallest target
92.07 medium
91.85 largest

Perhaps that is where we rest for a bit before the London guys begin stepping into play?

peace

Hedvig

I rested through all of it.

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  #2176 (permalink)
 researcher247 
Chicago, IL
 
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Posts: 429 since Oct 2009
Thanks: 265 given, 757 received

I got to my 3rd & final target and then passed out @4am est; wanted to stay up 'til 5am est but ran out of gas.

We will see what today shall bring us.

peace

Hedvig

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  #2177 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
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Posts: 6,462 since May 2011


researcher247 View Post
----------------------
Luck or skill; I'll take it (on 'largest' target overnight) of 91.85.

I passed out around 4am est. We had a low of 91.81.

Gary and I had that low price within a few ticks--nice work Gary.

Is everybody ready for another 'fight' today?

peace

Hedvig


I would have bought at the first reversal at around 92.20, but slept until 7am and missed it.





Now not so sure. Scalped 14 ticks long a few minutes ago, but would prefer to see a loer retest. 93.02 was first line resistance.

A local DB in this area will be a trigger for a swing for me.

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  #2178 (permalink)
 GaryD 
Orlando, Florida
 
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Posts: 6,462 since May 2011

New shorts effectively removed from market... mission accomplished.


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  #2179 (permalink)
 GaryD 
Orlando, Florida
 
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Posts: 6,462 since May 2011

Dimon didn?t practice what he preached at Harvard - Al Lewis - MarketWatch



Entertaining look at trading psychology.

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  #2180 (permalink)
 GaryD 
Orlando, Florida
 
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