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Ready Aim Fire Bullseye
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Created: by HighRise1202 Attachments:28

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Ready Aim Fire Bullseye

  #271 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

- 1.5 TF March 16, 2012

A Day For Lessons:

First opportunity I saw, all three rules met, I couldn't pull the trigger. Mouse hand was shaking.

First trade I took, 1 and 1/2 of my 3 rules met. It went 7 ticks then reversed and stopped me out.

Second trade, I was chasing it, I guess. It also went 7 ticks, reversed, stopped out. Was calm.


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  #272 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

I disagree that SIM can't be 'similar' to LIVE.

Here is why:

Step 1

Publish your rules, your stops, your TP's, etc. and your rules for entry and exit.

Step 2

Trade every single day on SIM/Live and follow those rules until you reach a certain consistency.

The problem most people have with "SIM" or "PAPER" is that they cheat themselves. They pretend and have fake courage to take 'every' setup and somehow end up and they can't get over that hurdle of thinking which I understand as I used to have it.

However, if you follow your rules and you can create a 'significant' profit WITH consistency (uh umm... NOT ME!), then moving to Live is the obvious next choice.

Using this method you can get sunk real quick using small stops and hitting pivots, so in my opinion it is probably one of the more 'dangerous' methods to 'test live' unless you have a large account. This method isn't about being right a whole lot, but when you are right, letting it ride.

Everyone has advice, everyone will tell you there way is better, but in the end, none of us know what we are talking about and it is your bank account.

My advice is to stay live (no sim) until you hit your stop out and then you will go back to SIM or stay live dependent upon how you do. For me it was -2,000 on my IRA account. I had some success on another account, but switched over to my last ROTH IRA and drew it down from 9k to 0. That was August of 2010 and have not been live since I can't even make success in SIM yet.

To some people, money really scares them. They think of all the meals out, the vacations, etc.. For me, it is a bit different as the amount is pretty small per the reward, but I am always thinking of the upside WHILE I continue to sink my account(s).... I came to realize that I was not yet a MASTER TRADER that I thought I was and that this was a longer journey than expected.

I truly wish you luck on your live journey. It is a hard one and the key is to find your consistency....

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  #273 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

recordings


Hi,

I can see that you make recordings of your trades. This can be a wonderful tool. I make recordings of my trading, too (though CamStudio is making fun of me these days and records only audio, no video).

I watched just some of your videos so I may be mistaken and you already do what I am about to suggest.

I know it is difficult to do if your recordings are made public but would it not be better to record before each trade what is leading you to get into the trade? I do not mean saying your rules (but you could do that, too) but mainly what you see, what you expect, what your emotions are etc. And record the same talk during the whole trade. What you feel, what you think, what you see. If you then replay your recordings "outside of market" you will see what you did not see/think/feel before and during the actual trade.

Just an idea.

Wish you good trading.


Last edited by hadamkov; March 16th, 2012 at 07:07 PM.
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  #274 (permalink)
Elite Member
Greensboro NC
 
Futures Experience: None
Platform: TOS/ NT Dorman
Favorite Futures: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 886 received


wldman View Post
with my OPINION...and blue or anyone else...it is not personal.

SIM is bologna and a complete waste of time...as is more than a little backtesting.

There is no way to simulate the emotion of a real situation in a pretend situation...none. Nor can you create an adequate view of how actual orders would have been handled in a live versus a sim condition.

Trade live money and adjust your size to a level that worst case scenario outcome is worth the education received. If your product does not decrement that way then trade something else that does until you have reasonably mastered your idea or method.

The only way to get better at trading is to trade. If you have access to a legit mentor allow yourself to become a complete and true apprentice. Master do, apprentice watch, master and apprentice do together, apprentice do, master watch.

I firmly put forward that SIM especially unsupervised unmentored SIM does way way more damage than good.

Hello Wldman, hope all is well for you.

I have to agree and disagree........Agree no substitute for live trading(emotionally grasping) new traders open a 10k account, 100k doesnt matter trade to lose, I promise you after that you'll grasp the emotionally side, its the honest truth unless your one of the .5%(number in my head) that get it the first try

After that trade 21 winning trades in sim/live before you go back live

Good Luck to everyone on this journey

I like your bollinger dead zone setup, around 20sma can be tricky in that zone, I wait for 1 bar close above or below to confirm, but since I saw ur setup, testing soon. Thx

In closing I also agree sim for a beginner with no help can go either way, this is why futures.io (formerly BMT) is the best thx to Big Mike

Best Wishes to Everyone
R


Last edited by Rad4633; March 17th, 2012 at 02:14 AM.
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  #275 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

+ .9 TF March 19 2012

Moved system to another room, so thought I shouldn't trade. Then saw 610 foot forming and took a long. Got nervous with hands shaking. Got out at 9 ticks. It went on another 2 points and more. Thankful for gain. Concerned about shaking when I'm in cash.


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  #276 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

Good work...

Good job!

I could hear it in your voice. I used to get like that also. haha...

It is like performing in concert or something when everyone is watching you. Thanks for sharing.

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  #277 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

No Trades TF March 20 2012

Saw one possible opportunity around 9:10 Central Time. Indicators not clear enough for me, however, to take trade. So no trades today...there will be trades to take in the future. A bit sad today. Cat bit me...for the last time. It will have a new home soon. Also, Bluemele said he's taking a break.


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  #278 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

Don't be sad because of me! haha....

Ahhh... Cats... I used to love fighting with my cat, but they sure can pick a fight at the wrong time!

You are doing very good on your trading! Nice patience.

I went through a phase similar and the only thing I can say is, please don't get really bummed that when you are live and you end up do finding the 'perfect perfect perfect' setup and it doesn't work out that it doesn't smash your enthusiasm.

I waited one week for my 'perfect' setup one time LIVE. It knocked me out on the tick and then went 5 points to my target... I was crushed, bruised and smashed... But, what I saw was right, just my stop was too small.

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  #279 (permalink)
Elite Member
houston
 
Futures Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 269 received

- 1.0 TF March 21 2012

Went for pre-market trade. No go.

Stayed aggressive and second trade was good. I had all the signs of nervousness. Should have stopped there. Took two more trades; losers.

I hereby bestow upon myself a Masters in Not Sticking To My Trading Rules degree.

Best of trading to you!


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  #280 (permalink)
Elite Member
Bangkok, Thailand
 
Futures Experience: Intermediate
Platform: Matlab, Self-Made Platform
Favorite Futures: GC, CL, Forex
 
Posts: 139 since Mar 2011
Thanks: 284 given, 159 received


It's been a pleasure to follow your trading HighRise1202. I've watched most of your videos (I've decided to watch every single one and analyze every trade) and I believe I have learned a lot from all the good calls and mistakes you have made. I decided to give this method a try seeing that you have been fairly constistent with your winnings. I'm planning to track my trading on my journal from now on to keep track of my results and hopefully get some feedback from you guys. So far I've traded E6 and TF with this setup with bad results which is not suprising given all the mistakes I've made.

What settings are you using for MACDBBs and Keltner channels?

Are you interested in my comments about some of your trades? I'm trying to develop a solid understanding what contributes to a good trade and how to detect a bad trade... As we all know, you cannot judge a trade by a single outcome. A best trade in the world can be an unlucky loser and extremely bad trade can be a lucky winner. The quality of a trade should be quantified by large amount of empirical evidence or using some sound logical reasoning. I know there is a lot of traders here that just "get the feeling" and know when to enter a position and when to close it. I believe most people will develop such "sixth sense" after a lot of trading experience (which will be invaluable tool, unconscious mind is much more powerful than the conscious one) but for sake of discussion it doesn't help if a trade is rationalized only by someones emotions.

A little discussion might be helpful for you too?

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