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Well we don't change, instead I have to get up an hour earlier....which I didn't, my body clock woke me at the normal time which was an hour to late after getting in really late last night.....going to have to reset this week...go to sleep an hour earlier and hope I get the required number of hours and my body clock does the rest....it usually does so I guess I'll know tomorrow....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
The Link to the Drawing Tool is good to post #737 that Redratsal posted. The file is there. But the link to richardtodd tutorial leads to a dead end. Even a site search on his site yields no tutorial or even the indicator. Wonder if anyone has the tutorial and would be willing to post the tutorial file. I would be mighty grateful. I can't figure out how to get the zdrawoptions indi to work.
I watched FT71's webinar a couple of nights ago, he made a lot of sense in terms of scaling out of a trade. I've been all in all out for a while now and then noticed the "guru" I originally got the idea from was scaling out....I said, "what the heck, I feel better emotionally when I do, makes it easier to manage any type of runner....plus I get paid most of the time if I scale out relatively soon on the trade".
So I started scaling out yesterday. Didn't help, I got drilled close to my daily stop, managed to make most of it back before I left the house, then today, finished covering the losses from yesterday.
I do like the feeling I get from scaling out. Not sure if doing what feels good is the right thing but for now, I'll use it.
And before anyone starts asking where I scale out, its ten ticks....mostly because @indextrader7 convinced me that was a good spot to scale....
Fewer trades than yesterday, when I'm winning it seems to work out that way....I had a target of 92.60 on my original short, covered it a few minutes to soon and reversed long which got stopped out but I quickly re-entered my short because the premise of the original short was still valid. Got scales on that one fairly soon, then held to close to the target and exited when it reversed.
Today was an exercise in patience...most days are but this one was different. I was patient but didn't really worry about the noise....most of the time I read, ate some breakfast, chatted on skype, I even watched part of a webinar until the guy's voice nearly put me to sleep.....
Now its time to move on to other things.....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
I'm trying to increase my daily average a bit which means I need to increase the number of ticks I take out each day. So I need to hold longer or take more trades. Or both.
Today, I had a sense we would be in a bullish environment and once I saw the down trend structure broken, I was ready to be long. I was drawing in the beginnings of the trend line and saw the little pull back had created the second touch and so just clicked in. I got my first scale off and had a feeling the globex 50% would be resistance so I started looking for a place to get out.
Then I was looking for a short opportunity at that level and got stopped out. Back in long for ten ticks, and then once more for ten ticks.
Ended the day at 2X daily average. That should help things a bit.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Many thanks for taking time to show how this works. It is a handy tool bar after watching the video. Like many things, once you see it you think "why couldn't I figure that out?"
I enjoy your transparency in your thread. There are many helpful thoughts here.
Well that's a question with many answers depending on the day....but in general, my greatest weakness is probably getting impatient with my winners. The second one is probably not waiting quite long enough for my price.
I am getting better at both of these slowly but surely. I've gotten complacent hitting for average...and in truth, I don't want to really change that....I just want to increase it slowly over time, helps make up for the not so great days that happen occasionally.
I still won't be sitting here all day, nor am I looking to take lots of trades. In 90% of the cases, the fewer trades the better. However, if I have time and the market is moving nicely, no reason not to look for a few more ticks......so if it takes a couple more trades, then so be it.....I'd rather not, but if necessary, I will.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
One and done today...with a slightly larger target. I trailed out 10 ticks above my stated target of 93.05..... it did reach that number plus a little bit but it was a well executed trade anyway...
Ninja froze up on me before the open...first time in a couple of years....got it restarted in time to catch the drop.....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
