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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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  #2471 (permalink)
 GaryD 
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That little pattern is a buildup of energy.

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 GaryD 
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Not that it means anything, but that is the swing I was hoping to catch yesterday.





In hindsight, the better buy was the 2nd arrow, 6am this time.

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 GaryD 
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caught 6 long TF. Just staying with my cat on a dead mouse approach today.

I would entertain shorting CL up here, but the momentum is a little ominous, and the push out of support has me undecided.

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 GaryD 
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If ES reaches 1335 I would be more intersted in a short in CL. Right now it may still have shorts pinned against yesterday's high.



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 GaryD 
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researcher247 View Post
Your sim gold trade is good; deep 89% retrace off a cycle {weekly} bottom. If they keep it above the lows of this week--then target 1640.00 basis June GC.

lol

peace

hedvig


GaryD View Post
Mumbo jumbo, I'm just gonna be rich!


greenr View Post
^^^^^^^^^^^^^^^^^^^Yeah baby^^^^^^^^^^^^^^^^^^^^^^




The gold trade was just being goofy. I was messing with gold in sim to see how it "felt" to be in a trade, and just picked long at the time for whatever reason. Then I guess I went to comething else, phone call, switched charts, who knows, and forgot about being in a sim long. I never would have known had I not tried to restart and Ninja said I had an open position I was not aware of. I got nervous, did I really do that? But turned out it was the meaningless sim I had.

So, instead of close it, and having taken a trade and then forgotten about it, I decided to trade like a moron and see what happened. Today it closed net profitable, but only after being down over $10k on a $2900 sim account. So the win was impossible.

The comment about "just gonna be rich" was just me goofing the part of the gold trader.

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 greenr 
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GaryD View Post
The gold trade was just being goofy. I was messing with gold in sim to see how it "felt" to be in a trade, and just picked long at the time for whatever reason. Then I guess I went to comething else, phone call, switched charts, who knows, and forgot about being in a sim long. I never would have known had I not tried to restart and Ninja said I had an open position I was not aware of. I got nervous, did I really do that? But turned out it was the meaningless sim I had.

So, instead of close it, and having taken a trade and then forgotten about it, I decided to trade like a moron and see what happened. Today it closed net profitable, but only after being down over $10k on a $2900 sim account. So the win was impossible.

The comment about "just gonna be rich" was just me goofing the part of the gold trader.

I know, i always read your thread in detail. I was messing about too. We have to have a laugh some times as trading on a serious level is not fun and games (I WISH IT WAS)

But on a serious note, taking trades like that is stupid gary as you know

It can develope bad habits and hope

But still "FUN" because we cannot lose....HA!

Have a great day and keep up the hard work, i love your style and i cannot wait to see the day you pull off a large scale trades on a daily basis

Focus on the ticks and not the money

Yes i know you know i know and every one knows

So easy to say but yet so hard to peform

Thats what splits the people who do this for a living and the people who fail to do this for a living

have a great day gary

" 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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  #2477 (permalink)
 GaryD 
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greenr View Post

Have a great day and keep up the hard work, i love your style and i cannot wait to see the day you pull off a large scale trades on a daily basis

Focus on the ticks and not the money

Yes i know you know i know and every one knows

So easy to say but yet so hard to peform

Thats what splits the people who do this for a living and the people who fail to do this for a living



Yes, I thought about that nearly non-stop as I drove 2 hours back to Orlando tonight. I believe I see what I am doing wrong when I trade larger size. If I am trading one contract, I just kind of feel it out as it goes. I know roughly the probabilities, when it reaches it's prime expectencies, when I think it has a better chance, but the important thing is I feel the trade the whole time and do not really care if I drop it. Add contracts, and I don't always "not care".

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 GaryD 
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Crude continues to set higher lows after coming up out of the major zone.




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 GaryD 
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ES still aiming to blow the stops at yesterday's high.

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  #2480 (permalink)
 GaryD 
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My primary account in my business lost their account recently. We were their star players, and every project we have done has gone flawlessly. Just started a new job today and expect to get what may be the last one, in Boston, before the end of the month. It was a good run.

That news of a possible end to the lead income generator of my business is what has escalated my drive to go full time in trading. That also means I have pressured myself more than I should to make the transition.

I am a good trader. That is the irony. At one or two contracts, when I do not care, I trade very well for the most part. Certainly net profitable, but just not enough money to want to leave everything else behind to do it.

In my re-read of Market Wizards, I was reading about Tom Baldwin, at the time of the interview possibly the largest independent trader in the bond pit, ;

Jack Schwager - "At what point were you confident that you were going to be succesful at it?"

Tom Baldwin - "That is an interesting question. You are never really confident in this business, because you can always be wiped out pretty quickly."



That was from a trading legend, "never really confident"... That does not do much to build confidence.



I decided to trade larger I would go for larger targets and hold longer, but the problem is, that is not exactly how I trade when I am doing 1-2 contracts. I am quick to decide, quick to forget, hold when I feel like it and don't sweat the heat in those instances, smell a failed trade comeing when I am really in the groove. 4 ticks, 6 ticks, -4 ticks, just treading water and feeling things out, then hold one and done. Or two, and then done.

When I size up I start putting so much emphasis on the risk to reward, but in a textbook sense. Calculators even. When I trade 1 cntract, screw the calculators, there are no guarantees, and so I just keep my losses low. There are more than enough times when I feel really good about a trade to even consider keeping one that feels so-so. Or, so I operate at smaller size.

I have decided I do not believe in the variable size approach. I found a niche of how I trade, and there are no variables to "1". If I trade 4, it is 4, not 3, not 5. FOUR.

If I add in, FOUR.

Or 3, or 2, or whatever number I decide on.

Just bigger than 1.

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