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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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  #2611 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
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Posts: 6,462 since May 2011

Walked around, I don't need to leave. I can keep myself in check. Frustration sends up a red flag for me, but this is not frustration from being down, it is from being out. I just read "vix soars". Maybe that is also my personal "fear gauge". Not that I don't want to use extreme volatility, but that it is still a wild beast to me.





I may not want to trade it, but I am so curious how today's story ends.

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  #2612 (permalink)
 GaryD 
Orlando, Florida
 
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researcher247 View Post
------------------
Believe it (about not wanting to force a trade). Also, you were working your ass off in another market(s) earlier; you are probably a bit burnt. Time to relax some.

Who gives a fuck about 'flush out days!' Guys that brag about nailing HUGE money on a day like today are either

a) small 1 and 2 lot traders and most likely will stay that way
b) lucky and got a bit back from previous 'losses'--however much that is...

OR

a) paper/sim traders that need to announce a huge day for whatever reason that is???

You won't see 'size' traders saying much on a day like this. They are ANALYZING and studying for the next high-probability setup with (usually) a better R:R setup(s)--perhaps with a bit less intraday ATR risk.

Just my humble opinion. And fast-moving markets keep me humble and 'nibbling' in my selective daytrades across 3 markets.

peace

hedvig

p.s. Good journaling the last 24 hours. Keep it tight and right. If flush-out days are not your style (and you are taking calls on the phone to boot); you got yourself a pass for the rest of the day. Go out and live it!

I'm having a beer and some green dragon and analyzing alot of swingcharts for the next 'sniper' assignment.



Thanks Hedvig, makes me feel like less of a wuss.

Many, many, many times in the past, on huge days like today, I would think "I'll catch the best entry, ever!"

But what I also have said, after the fact, many, many, many times... "I was one day early". Or 2, or just plain wrong. But the key word there is "early". Or better, "patience".


Just thinking, watching, curious. Have three projects going and may fly to DC today, nothing booked yet. Tough time to focus on the split second, but enough time to look at the bigger picture.

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  #2613 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
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Posts: 6,462 since May 2011



researcher247 View Post
------------------

Who gives a fuck about 'flush out days!' Guys that brag about nailing HUGE money on a day like today are either

a) small 1 and 2 lot traders and most likely will stay that way
b) lucky and got a bit back from previous 'losses'--however much that is...

OR

a) paper/sim traders that need to announce a huge day for whatever reason that is???

You won't see 'size' traders saying much on a day like this. They are ANALYZING and studying for the next high-probability setup with (usually) a better R:R setup(s)--perhaps with a bit less intraday ATR risk.


I have read that 4 times now, probably more to come. I would click "Thanks" again if it would let me.

(And, apparently I set the f word free for infinity in this journal. Not a problem, personal favorite in many ways, and so incredibly versatile...)

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  #2614 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
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Posts: 6,462 since May 2011




So, what is occuring here just hit me differently. The short traders are inviting buyers in to let them get their profits, and hopefully not set off the delicate balance that turns it from consolidation into a squeeze. Meanwhile, scalpers who go for this thing, as I do sometimes, are like scavengers, cleaning up the scraps...serving a purpose in the ecosystem, but definitely not the highest on the food chain.

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  #2615 (permalink)
 GaryD 
Orlando, Florida
 
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"If I could only make $100 a day"... yes... and they never stop coming...and they never give up until their pockets are emptied, and the new lot takes their place...


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  #2616 (permalink)
 GaryD 
Orlando, Florida
 
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Like a remora. Finding a way to exist...riding the underbelly of the ones who are really making it all happen. Not realizing any other option. Just happy to be eating...


These are dangerous waters today. Swim safely.

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  #2617 (permalink)
 GaryD 
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Notice the clock.





Great day. Learned something.

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  #2618 (permalink)
 GaryD 
Orlando, Florida
 
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Wave size should have some correlation to who perpetuates the motion.

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  #2619 (permalink)
 GaryD 
Orlando, Florida
 
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Posts: 6,462 since May 2011


GaryD View Post

So, what is occuring here just hit me differently. The short traders are inviting buyers in to let them get their profits, and hopefully not set off the delicate balance that turns it from consolidation into a squeeze. Meanwhile, scalpers who go for this thing, as I do sometimes, are like scavengers, cleaning up the scraps...serving a purpose in the ecosystem, but definitely not the highest on the food chain.

They buy at the bottom, giving the larger shorts the best profit, and ride to the top, where they are paid for their services, and the short scalper takes over, bringing price back down for more profit taking, where that scalper is rewarded, back and forth, until the sides are balanced and ready to move again.

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 Deucalion 
Calgary, Canada
 
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Posts: 430 since Aug 2009



GaryD View Post
Oh, I see the D. Did not catch his post. I keep this minimized for the most part. Congrats D.

LOL...see...egg on my face.....covered at 89.67ish) this morning, and now she is at 200ticks lower in one session...make me look like a scaredy cat for covering too quickly...amateur. Covering at end of today would have been better, after she blew the stops


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