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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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  #2451 (permalink)
 GaryD 
Orlando, Florida
 
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BTW, I took this trade on 1) divergence, 2) 30 minute, 3) volume, and 4) trend.

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 GaryD 
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 GaryD 
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The problem I have, is when I go for larger size, I try too hard. In trading, you cannot "try", and not really in the Yoda sense, from @zt379.

There is no "try" means, who knows what is going to happen? There is nothing I can do. How can one "try" when there is nothing to do? The market does everything, I do nothing. I observe, decide, experience.

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 GaryD 
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closed the 4th +26. Net for the night 192 ticks, and one attitude.

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 Big Mike 
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GaryD View Post
one attitude.

A friend sent in this recording of GaryD enjoying his night!



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  #2456 (permalink)
 researcher247 
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I am so used to watching dollars that it is just something I need to let wash around some. $1.2k on 6 contracts is noise, but it is 2+x my prior max down, and I am going over that concept with myself more than I am trading. The small trades are actually a part of the thought process. I am feeling being in a trade as I think.

I don't know any other way to say this Gary; you need to retrain/BRAINWASH your mind and focus on CENTS/TICKS vs $$$$$.

Yea; I know CL is so easy to think in terms of $$$ because of the $10.00 per cent/tick {like that other simple math stuff called the 'metric system'}.

This is my opinion. I know real money is real money but (maybe I don't know the other professional traders that actively think about the money while in trades)-- I do not know another single highly profitable and consistent trader that thinks in terms of $$$ during the week {on Friday they do, of course I do as well--heck yea}!

Throughout the week and the day they are most aware and highly tuned into ticks per trade/and honoring their trading rules with near 100% compliance. Yes, an intuitive 'gut' trade (with other factors) sometimes SCREAMS at traders; I get it.

Hmm...these are just my thoughts. In my DOM I never have $$ shown; at this point I don't have ticks either--I use % because I couldn't care less about the current trade I am in (let me explain).

I have entered, have a hard or 'mental stop that I never deviate from' and then I immediately turn into a pathological 'risk specialist' as I target my profit-taking levels, the point where I will move my stops, etc...

I know (based on, of course--the current intraday method I favor the most--800 sim trades I took before going live that this formula applies)...

a) Every 10-15 trades my expectancy will be positive
b) I already know that I cannot even think about money while trading. I imagine myself as a Chinese factory worker that if I lose my focus some guy behind me is going to physically beat me for non-compliance. : )

For my other styles of intraday trading--those (this is scary) I have done roughly 20,000 trades now; it's like breathing.

This is an exciting thread, isn't it?

peace

hedvig

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 GaryD 
Orlando, Florida
 
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Not sure that is going to make it to my trading plan. But it was good laugh.

Trading has nothing to do with charts or price, it has everything to do with attitude. As long as you don't ignore the charts or the price. Or maybe, none of the above. Winners bigger than losers. That is the only thing I think I know for certain. Maybe. lol!

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 researcher247 
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On more off at +27.

Look at this pimp! Trading the quietest (normally) time of the day!!!

Volatility is a beautiful thing!

Interesting story; a guy about 25 miles from here has a real OIL well/drilling thing--whatever.

Recall CL at $140+ per barrel?

He was pumping 20 barrels per day and then selling to a wholesaler for some nice coin.

I lost track of him though.

Great stuff.

peace

hedvig

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 GaryD 
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researcher247 View Post
I don't know any other way to say this Gary; you need to retrain/BRAINWASH your mind and focus on CENTS/TICKS vs $$$$$.

Lather, rinse, repeat... That is what I am doing. That is what made me come back tonight and play with this market. So I was down "max". What is that anyway? Something I decide I am willing to accept as a loss in dollars. But I am trading in ticks. I was not down max ticks, that would be 50. I was down max dollars, and I allowed myself to choose the number of contracts.

Here is a quote from my trading plan; "The Plan includes a Risk Matrix that will determine the maximum leverage available, based on account equity. The Trader shall have at his discretion, how many contracts per trade they feel are appropriate, provided that the Risk Matrix guidelines are strictly adhered to".

I went all in on one trade today. Fits my plan, but still bothered me.

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  #2460 (permalink)
 GaryD 
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Trading Plan opening line;

I am a full-time independent trader that will enable the realization of a monetary goal over a long time horizon, the "Long Term Financial Goal", by employing long to intermediate term technical analysis, with entries based on short term indicators and trading experience. The Account is expected to experience periods of rapid growth, as well as rapid drawdowns, but the expectation is that the systematic approach will be profitable over time. Discipline in executing the plan exactly as it is written is mandatory.

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