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Ready Aim Fire Bullseye


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Ready Aim Fire Bullseye

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  #201 (permalink)
 bluemele 
Honolulu, Hawaii
 
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greenr View Post

I think your doing good, just learn for your mistakes. Least your not trading live and losing lost of money like i was in desperation!

That was me a year and a half ago....

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  #202 (permalink)
 HighRise1202 
houston
 
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Whoa. Traded cash today. Took long and for some reason my broker didn't honor the stop. 610 had made a V up but was still below the Bollinger. The trade went several points against me and I didn't bail. This was a push down by the big boys on the good construction news, I believe. Price reversed up and went many points. I stayed in until a stall level and achieved one point. The charts said stay in but I was happy to have survived that roller coaster.

Regarding emotions, my heart started beating more strongly than usual as I saw the set up appearing. The drop after I bought was hard to take but I had a suspicion a turn around was coming. (Maybe I just resolved myself to go down with the ship?) When the price came up and went into positive territory I began hovering the mouse over the buy button. My hand was shaking so violently I couldn't control it. I had to release the mouse and move around. When I returned my hand to the mouse it was still shaking too violently to control it. I had to use both hands and that barely worked.


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  #203 (permalink)
 vovan348 
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HighRise1202 View Post
Whoa. Traded cash today. Took long and for some reason my broker didn't honor the stop. 610 had made a V up but was still below the Bollinger. The trade went several points against me and I didn't bail. This was a push down by the big boys on the good construction news, I believe. Price reversed up and went many points. I stayed in until a stall level and achieved one point. The charts said stay in but I was happy to have survived that roller coaster.

Regarding emotions, my heart started beating more strongly than usual as I saw the set up appearing. The drop after I bought was hard to take but I had a suspicion a turn around was coming. (Maybe I just resolved myself to go down with the ship?) When the price came up and went into positive territory I began hovering the mouse over the buy button. My hand was shaking so violently I couldn't control it. I had to release the mouse and move around. When I returned my hand to the mouse it was still shaking too violently to control it. I had to use both hands and that barely worked.

Why did you decide to go live today? Do you feel confident with your trading now? If it never came back up when would you close it?

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  #204 (permalink)
 HighRise1202 
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vovan348 View Post
Why did you decide to go live today? Do you feel confident with your trading now? If it never came back up when would you close it?

Vovan, I've been cranking out small consistent gains for a while now. I felt it time to do what we're all here for. It was catastrophic yesterday but I cranked out a small gain.

Yes, my stop should work now. I saw two trades today but not enough indicators aligned to pull the trigger, or so I felt. Best of trading to you.

No trades today.


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  #205 (permalink)
 HighRise1202 
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Vat am I vaiting for? A great trade presented on a silver platter? Well, that happened at 9:08 Central Time. I'm having a problem with pulling the trigger.

I am asking myself kindly to be free to trade my plan and when I trade to profit beyond one point.


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  #206 (permalink)
 bluemele 
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HighRise1202 View Post
Vat am I vaiting for? A great trade presented on a silver platter? Well, that happened at 9:08 Central Time. I'm having a problem with pulling the trigger.

I am asking myself kindly to be free to trade my plan and when I trade to profit beyond one point.

You are doing well and good. Better to be safe than sorry in my opinion. You are doing really well. You recognized it.

The key is to disect your emotions. What did you say to yourself (your inner-self) and what caused you to stop?

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  #207 (permalink)
 greenr 
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bluemele View Post
You are doing well and good. Better to be safe than sorry in my opinion. You are doing really well. You recognized it.

The key is to disect your emotions. What did you say to yourself (your inner-self) and what caused you to stop?

Pull that trigger Orin when everything lines up! NO FEAR

Keep your risk minimal and accept the risk, set the risk you willing to lose to find out if your right. Trade on the edge and keep that stop tight!

If your right you have done your job, if your wrong...you have just blessed some one els as henry would say lol and move on the the next high % set up emotionless

This way the market can never beat you and you can trade with the flow

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  #208 (permalink)
 HighRise1202 
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Did you watch Horst's vid of yesterday? He ended it saying using the big charts was for the birds.

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  #209 (permalink)
 HighRise1202 
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Saw two clear setups today, then talked myself out of taking the trades each time. My frustration level with that seems to be moderate, but there must be a boil going on underneath.

Switched to SIM and then took a long on a so-so setup. It went to target (2.5 points).

Thanks for the advice @greenr; Pull that trigger Orin when everything lines up! NO FEAR. Now if I will just take that advice.


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  #210 (permalink)
 HighRise1202 
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Yesterday I was kicking myself for not taking trades when I saw the setups. I checked closer. What I found was that the setups were not as sweet as I thought and that I had jumped to conclusions.

So, I think I'm being too careful in waiting for perfect trades. It is a bit gratifying, however, after several days clicking the mouse like it was the trigger of an assault weapon.

I hope this is a step in my maturation as a trader ...and not a case of constipation.


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  #211 (permalink)
 bluemele 
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You are doing well. No need to trade unless it is 'right'.

I once went a week-and-a-half to take a trade live. It was a good feeling right after a Masters Palace bootcamp and that was our focus, to wait for the perfect setup.

My trade ended up a loser by the tick and then went for like 5 points. It was funny to see.. hahah... Longest 165.00 I had to wait to lose, but after that I started my impatient trading again.

If you took one good setup a week or even a month you could do well. Do what you feel is right in your heart.

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  #212 (permalink)
 HighRise1202 
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bluemele View Post
I once went a week-and-a-half to take a trade live. It was a good feeling right after a Masters Palace bootcamp and that was our focus, to wait for the perfect setup.

Thanks for the encouragement. Wow, you took the bootcamp!

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  #213 (permalink)
 bluemele 
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HighRise1202 View Post
Thanks for the encouragement. Wow, you took the bootcamp!

Two of them. I got to watch Henry yell at people all day. And of course myself.

It was fun and I learned a lot. Toronto is a cool city.

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  #214 (permalink)
 greenr 
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Regards what we were talking about trading the pre open. I been having a think and i have come to the conclusion that it depends on what market your trading really. You see with the let say Euro it is traded in the London session and the US session and is most of the time pretti active in both sessions. Also the crude can be pretti active in both session. But what i have found in the past with the TF is that it is pretti much a US traded market. And seems to be a very late starter compaired to the other markets i have speculated

So may be this should be a rule for you....

If you have an active pre market on the TF and you get a trade set up handed to you on a platter you should not hesistate to pull the trigger....As long as you prep is done and you ready for the market. AND YOU KNOW YOU RISK!

If you have a non active pre market and you get a trade set up, you should most probs skip it

I think the best way to define if it is active enough of not is by looking at the price action.....

Is it consistant?
Do we have relative speed?
Sideways or trending?
Rang bound?

I can normally tell most of this by looking at the tim and sales window

I know this can be very hard to dertermin as but this will come with maturity and experience as a trader

Hope this helps Orin

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  #215 (permalink)
 HighRise1202 
houston
 
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Two gifts. No excuses. Broke trading rules. Not at areas.

Had steady hand. Heart rate did increase during trades.


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  #216 (permalink)
 HighRise1202 
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See ya next Tuesday. Off to Chicago. Brrr.



Best luck trading!

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  #217 (permalink)
 HighRise1202 
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Was out of town and used Think or Swim to trade. Had almost no indies. Did use Fibs. Let the last trade stay open while I flew home and voila, it was a winner.

(The CL trade was from last year.)


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  #218 (permalink)
 Vincent Vega 
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HighRise1202 View Post
Was out of town and used Think or Swim to trade. Had almost no indies. Did use Fibs. Let the last trade stay open while I flew home and voila, it was a winner.


“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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  #219 (permalink)
 bluemele 
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HighRise1202 View Post
Was out of town and used Think or Swim to trade. Had almost no indies. Did use Fibs. Let the last trade stay open while I flew home and voila, it was a winner.

(The CL trade was from last year.)


Good job! How dare you post a statement! You will go to forum trading hell!!!!!!!

What are you thinking... people can't do that, it is illegal.. etc.. etc..

Wow, someone with some cajones....

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  #220 (permalink)
 madLyfe 
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bluemele View Post
Good job! How dare you post a statement! You will go to forum trading hell!!!!!!!

What are you thinking... people can't do that, it is illegal.. etc.. etc..

Wow, someone with some cajones....

pretty sure its paper..

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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  #221 (permalink)
 HighRise1202 
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Yes, I'm on SIM after being off four days.

Heard that TF was going below 800. Then to a new high. So I was looking for a short and caught it (4 points). However, I had a big stop loss (2.9 points!) on the first late entry for a short.


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  #222 (permalink)
 HighRise1202 
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I thought about the successful trading I had while travelling. I had used only a 144 and a 512 tick chart, plus Fibs. I decided to try and keep it simple today. Perhaps it was an easy trading day. I was relaxed and easily admitted my errors. I am also concentrating on reading the market well and not trying to be “smart” (an Achilles heel of mine) and outsmart the market. I fell for a few shakeouts.


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  #223 (permalink)
 HighRise1202 
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Trade entries: C
Trade mgmt:

I'm trying to follow my trading rules. I'm trying to follow my trading rules. I'm trying to...

Two trades each stopped out to the tick.

Take a profit...why don'cha? Next time for sure.


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  #224 (permalink)
 bluemele 
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You did pretty good in my opinion. I had a feeling it was going long and it cost me....

Way to stick to your guns. Losing on days like this is almost a given.

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  #225 (permalink)
 HighRise1202 
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Must follow trading plan. Must follow trading plan. First trade was not in area. Second trade was good. Could have stopped with 1 point profit for the day...but NOOO. Even though indies said this is a incongruous day, I kept on and over traded. Video save failed again.


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  #226 (permalink)
 HighRise1202 
houston
 
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I followed my trading plan. Should be simple to do.

Now what am I gonna' do for the rest of the day? Simple; do other things plus study past charts and practice applying my trading plan. May I look at other methods? Yes, especially those of the wise and experienced in this forum. But I won't use those methods until they are written into my trading plan. Simple, isn't it? No, it's not.


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  #227 (permalink)
 HighRise1202 
houston
 
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I used my audible alert today with success. It's called Priceguard.

I took one trade during my regular period, the first hour. I don't want to trade longer. However, I know some sweet opportunities may arise later. So I used Priceguard. It sounded a half hour later. I came and checked out the situation. There was a good trading op and I earned 2.5 more points. Sweet.




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  #228 (permalink)
 HighRise1202 
houston
 
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My first trade was at area with nice head + shoulders. I didn't look for a pullback. A lightening-fast pullback took me out. I was actually impressed by the move, even being part of the herd.

The second trade was also from an area. A 2-bar reversal and bulges over 440 and 610 said, “Come on!” The trade went OK. Have a great weekend. (My advice for having a great weekend is to do something special on Friday night.)


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  #229 (permalink)
 wldman 
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What I was asking was...what chart did I post? I can't be sure what we are talking about till I see the chart. I'm not sure I even know how to post a chart here. DB

did it look like this?

https://screencast.com/t/AJxt2lvHS

How do I post in the body?

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  #230 (permalink)
 HighRise1202 
houston
 
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wldman View Post
What I was asking was...what chart did I post? I can't be sure what we are talking about till I see the chart. I'm not sure I even know how to post a chart here. DB

did it look like this?

2012-02-25_1455 - wilddan's library

How do I post in the body?

Yes, that's the chart.

To post a graphic click on the paper clip, click Choose File, Upload, and Embed.

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  #231 (permalink)
 Big Mike 
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wldman View Post

2012-02-25_1455 - wilddan's library

How do I post in the body?

For screencast links, use the [screencast]url[/screencast] bbcode. Just wrap the URL around the screencast bbcode.

For non-screencast, you can use the embed method mentioned.

Mike

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  #232 (permalink)
 wldman 
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  #233 (permalink)
 HighRise1202 
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How does the market know what I’m thinking? I’m in a long up about 2 points. Looking to go 3 points more. I move my stop to protect some profit. The market retraces, goes up, retraces again and hits my stop and goes only one tick more! How does it know? It must be because I’m part of the herd. Moooo. Then the market prodeeded to the lofty point I had in mind. Anyway, I’m grateful for a profit today on a day where the market lured one to believe ten points were easily possible. Crafty fellow, that market! I am pleased that I was initially thinking short for trend today, then adjusted when market showed the way. I am often stubborn.

Sorry, sound on recording is weak. Will correct it for tomorrow. Good luck trading!


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  #234 (permalink)
 HighRise1202 
houston
 
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One trade today, a short on a short-term fib. Oops, MACDs not in agreement. (Against my trading rules.) Oops, no ATM had been set! No problem...I'll wait it out...and luck followed through. Got a 1.9 point run. Bounced at a low of yesterday, but I didn't pick up on that in time. Indies said today difficult day to trade...at least for me. Best of trading to you!

Am not nervous trading. I hope that shaking hand problem is behind me!

Will fix sound level.


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  #235 (permalink)
 bluemele 
Honolulu, Hawaii
 
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When would you close out that trade?

Was there a limit?

That seems scary to me personally, but everyone is different.

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  #236 (permalink)
 HighRise1202 
houston
 
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bluemele View Post
When would you close out that trade?

Was there a limit?

That seems scary to me personally, but everyone is different.

I had to load the 144 chart template. I placed my trade not noticing the ATM wasn't set...so no stop (or target)! Scary, yes.

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  #237 (permalink)
 bluemele 
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HighRise1202 View Post
I had to load the 144 chart template. I placed my trade not noticing the ATM wasn't set...so no stop (or target)! Scary, yes.

Yes, I watched the vid, but wondering where you would have stopped it. Usually when I see something like that as a mistake I close it without even thinking about it and then verify my accounts are all in order.

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  #238 (permalink)
 HighRise1202 
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Yes, I watched the vid, but wondering where you would have stopped it. Usually when I see something like that as a mistake I close it without even thinking about it and then verify my accounts are all in order.

Good point. I should close a trade as soon as I see the error. But had a feeling it would go as predicted.

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 HighRise1202 
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Opened charts late. Took son to dentist.

Saw significant down trend. Waited for pullback and shorted. Couldn't stomach shakeout even though mid charts said stay in. Need to work on that. Traded calmly and am thankful for that. Consistent profitability is my goal. Don't feel I need big gains, but they are nice.




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 HighRise1202 
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Scheduled power out here. No trading today.

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 wldman 
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The basis or foundation chart type is based on the displayed Heiken Ashi indicator. Of all those that I could find this is the closest to what I actually want. IMO perfect would be a HACO study based on the 2008 article by Sylvain Vervoort, "Trading With the Heiken-Ashi Candelstick Oscillator". On that HACO study the addition of an adaptive dominant cycle period function would be trick...but just the ability to set "length" within HACO would be a ggod start.


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 wldman 
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One of the weaknesses of the specific HACO is that it is a "fiction" bar. The study draws a bar that is based on a formula using price data, it is NOT actual price data. One of the items needed in a better HACO is the ability to use the formula to color regular hloc price bars with the directional color. This is so you can view the actual high low open and especially the close of a bar. Price close is generally the "trigger" indie.

So I had to add "close dot"


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 wldman 
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generally serves as the trigger set up....or if you are honey badger aggressive it is confirmation on the final "unit".
I am not so much a rules based algo trader. I am at least an equal part discretionary. This is where the difficulty in explaining will likely arise. So pink bar close below the modified bands might say "sold" and green bar close above modified bands might be "bot with".


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 wldman 
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a knock off of the John Carter type squeeze indicator create the "panel two" view. There is ALL KINDS of non-colinear information being displayed there. A start would be to eye ball color changes and the "zero-line cross"



...and the IMO magic acci coded in this forum by the brilliant MWinfrey


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 wldman 
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are two iterations of a Fat Tails coded Keltner Channel. Fat Tails is a very talented, wise, and prolific contributor to these forums. The "channel" represents a price target for primary and sometimes secondary profits.


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 wldman 
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I do use dvaluearea for support and resistance levels as well as floor trader pivots for the same. I would LOVE to use GOMI indicators in that role but I'm both too dense and too busy to give that the time it would need.

So, there you go HighRise, if you want to chat up the ideas, I will do my best.


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 wldman 
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potential trade entries.


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 futuretrader 
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wldman View Post
The basis or foundation chart type is based on the displayed Heiken Ashi indicator. Of all those that I could find this is the closest to what I actually want. IMO perfect would be a HACO study based on the 2008 article by Sylvain Vervoort, "Trading With the Heiken-Ashi Candelstick Oscillator". On that HACO study the addition of an adaptive dominant cycle period function would be trick...but just the ability to set "length" within HACO would be a ggod start.


If you have it, I'd be interested in reading the Vervoort article.

Also, do you have a link to the adaptive CCI indicator you mention later?
Edit: never mind that one, I found Fat Tails' port of all the Ehlers indicators.

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 wldman 
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The Vervoort article and sure you can have a copy. e-mail?

I do not know of or know if that displayed acci has anything to do with Fat Tails....but the author you cite is the original source. I have that article as well. DB

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 Silvester17 
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wldman View Post
The basis or foundation chart type is based on the displayed Heiken Ashi indicator. Of all those that I could find this is the closest to what I actually want. IMO perfect would be a HACO study based on the 2008 article by Sylvain Vervoort, "Trading With the Heiken-Ashi Candelstick Oscillator". On that HACO study the addition of an adaptive dominant cycle period function would be trick...but just the ability to set "length" within HACO would be a ggod start.

here's the HACO study based on Sylvain Vervoort.




and here's the same with a paint bar study


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 wldman 
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I did not see a setting for paint bar study nor do I know how to create that. Can you tell me please. As far as being the Vervoort study, I remember thinking that this was "based" on the 2008 article but not the Vervoort study... it looked to me like a few critical filters where left off. Do I have that wrong?

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 wldman 
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that I do think this is based on the idea, it is not the Vervoort study. There are a few variables that the user should be able to control. Vervoort talked about additional filters and the idea of a persistent directional eligibility. While I am no coder, I do not see that in the settings or the actual script. I certainly could be mistaken.

Like I mentioned, two additional items to the complete Vervoort study that where valuable to me where a cycle period setting and the ability to have the study color regular hloc price bars...not haco candles.

A code guy could break that down but I don't want to hijack the thread without the TS giving permission.

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 Silvester17 
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wldman View Post
I did not see a setting for paint bar study nor do I know how to create that. Can you tell me please. As far as being the Vervoort study, I remember thinking that this was "based" on the 2008 article but not the Vervoort study... it looked to me like a few critical filters where left off. Do I have that wrong?

I don't know, but according to this article, it's based on vervoort


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  #254 (permalink)
 wldman 
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but it is a statement that does not hold true within that actual indicator...items are missing or coded in a way that limits the original idea. Someone referenced the article but that does not mean much..to say that IS the Vervoort indicator is a serious stretch.

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 HighRise1202 
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Took a pre-market trade. Had to take son to doctor before regular trading period. Left two points on the table. Manage that trade!


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 madLyfe 
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HighRise1202 View Post
Took a pre-market trade. Had to take son to doctor before regular trading period. Left two points on the table. Manage that trade!


for some reason i never get the full screen option on your youtube videos.. i always have to right click and select watch on youtube.. not 100% sure why.. maybe its because its 1080p?

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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 HighRise1202 
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for some reason i never get the full screen option on your youtube videos.. i always have to right click and select watch on youtube.. not 100% sure why.. maybe its because its 1080p?

I tried a few changes to correct the problem. They didn't pan out. I'll look into it more. Thanks for pointing out the issue.

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 HighRise1202 
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Started off sloppy like a stumbling drunk. Rules? What rules? Finally I found an acorn. Still I thought patience was a four letter word. Then I started seeing straight enough to listen to the market.


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 HighRise1202 
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Son in hospital.

Best of trading for you!

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 madLyfe 
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HighRise1202 View Post
Son in hospital.

Best of trading for you!

dang, hope everything is ok! wishing you and your family the best!

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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 wldman 
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HighRise1202 View Post
Son in hospital.

Best of trading for you!

as wldman is that way. All the best, man.

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 bluemele 
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HighRise1202 View Post
Son in hospital.

Best of trading for you!

Sorry to hear that, and of course wish the best for you and your family.

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 HighRise1202 
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I know yer not 'sposed to trade on zillion witches day, but I did.

The first trade was good, a long. But I just COULDN'T wait for 610 to confirm. So therefore I got stopped out on a pullback. Meanwhile 610 confirms two bb's later...and off we go. I caught the second half of it.

Then I clicked the reverse button...one of my favorite things to do in the whole world!!! It worked. Yee Haa.

Then I called it a day...INSTEAD of hitting the reverse button again...which would have been a biggggggg ride!

My brain is apparently stuck at one point. :sos:


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 HighRise1202 
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A second day of no stars aligning...that I could see. Closed up cash one hour after open. Was getting a little tired. Shortly after that indies aligned and I took a sim trade.



Good news for the US; bidders on bonds willing to take 2%. Other news: this can't last forever, can it?

Best of trading to you!


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 bluemele 
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The bonds can as long as everything else is so unstable.

To me, we are sitting on an imaginary cloud of cheap money. It is going to be long and hurt to get through this. We moved from the average American pulling credit personally to the average American pulling credit through the government...

It isn't pretty, but it is the same all over the world. There is going to be one big "Mark to Market" sometime in the future and it is going to hurt... Just a matter of 'when will the music stop' or when will we decide to get our house in order.

Everyone complains about some of Europe, but Austerity works in my opinion...

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 HighRise1202 
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The bonds can as long as everything else is so unstable.

To me, we are sitting on an imaginary cloud of cheap money. It is going to be long and hurt to get through this. We moved from the average American pulling credit personally to the average American pulling credit through the government...

It isn't pretty, but it is the same all over the world. There is going to be one big "Mark to Market" sometime in the future and it is going to hurt... Just a matter of 'when will the music stop' or when will we decide to get our house in order.

Everyone complains about some of Europe, but Austerity works in my opinion...

Austerity...that's the country next to Germany, correct?

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 HighRise1202 
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Saw no clear trades again today during first hour. Switched to sim and took a continuation trade. I'm somber and OK.

Best of trading to you!




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 bluemele 
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Something I am noticing. I used to do it a lot also. Sim/live/sim/live

For some reason I would take losses in LIVE, then switch to sim as I lost my confidence.

My goal is that SIM=LIVE. If it does not mean it to you, then I suggest you figure out how you can make it feel that way.

I think switching back and forth can be a habit that gets you into more trouble than it is worth.

Sorry if this is being critical, but just some advice from a market replay trader...haha..

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 wldman 
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bluemele View Post
Something I am noticing. I used to do it a lot also. Sim/live/sim/live

For some reason I would take losses in LIVE, then switch to sim as I lost my confidence.

My goal is that SIM=LIVE. If it does not mean it to you, then I suggest you figure out how you can make it feel that way.

I think switching back and forth can be a habit that gets you into more trouble than it is worth.

Sorry if this is being critical, but just some advice from a market replay trader...haha..

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.

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 HighRise1202 
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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.

Thanks Wldman and Bluemele. I agree with what you are saying. Didn't see any trades all week...in time to take advantage of them. Today I didn't take sim either. Kind of frustrating when there's mostly chop and lightening fast bars.

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 HighRise1202 
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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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 bluemele 
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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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 hadamkov 
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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.

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 Rad4633 
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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

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  #275 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
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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)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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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)
 HighRise1202 
houston
 
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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)
 bluemele 
Honolulu, Hawaii
 
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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)
 HighRise1202 
houston
 
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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)
 rounder8 
Bangkok, Thailand
 
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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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  #281 (permalink)
 HighRise1202 
houston
 
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rounder8 View Post
A little discussion might be helpful for you too?

Great to receive your message, Rounder8. I'm a bit bummed out by my results today. I needed to receive a message like yours. I start my session with determination to stick to my rules...but lately I end up ignoring them...and paying the price. I keep a database of results and will share them this weekend.

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  #282 (permalink)
 rounder8 
Bangkok, Thailand
 
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Cheer up man!

You are doing fine, not every day can be a winner. If some trader is saying he wins every day then he is lying... I like the honesty you have had with trading which is the reason I became interested in this stuff in the first place.

I will start making my effort official by writing something in my journal. I will also start tracking my results. No mistakes/bad trades will be hidden because that will be a missed learning opportunity. I will go through most of your trades before I start any discussion so that I can (hopefully) see the forest for the trees. I also need to check out bluemele's effort from his journal which I haven't had the time to read yet.

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  #283 (permalink)
DCFX
USA
 
 
Posts: 7 since Jul 2010
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Orin, hey, don't let today get you down. Some days are more challenging than others for this method, and today was not a 'textbook easy' day.

You've been doing very well... and it looks like you've been left to carry the NFT flag here for a while (-bluemele, have a good break, look forward to seeing you back journaling afterwards-)

so keep up the good work and have a great weekend.

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  #284 (permalink)
 HighRise1202 
houston
 
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Yipes. Three stop outs. I know better than to trade on Fridays, especially when there is big news. But I did.

I say my second trade was like that made by a stumbling drunk, but I don't want to dis stumbling drunks.

Next week offers new opportunities...and a chance to actually apply my trading rules!


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  #285 (permalink)
 HighRise1202 
houston
 
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Market was pretty flat until housing sales news at 9 Central Time. The news was bad so of course the market immediately rose 5 points.


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  #286 (permalink)
 HighRise1202 
houston
 
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There were some trading opportunities on weak momentum.


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  #287 (permalink)
 HighRise1202 
houston
 
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Saw beautiful short at 9:04 Central Time. Took if for 9 ticks.

I know, I know...it went on for a zillion points. I have to perform where I'm at and my mindset is in catch up mode.


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  #288 (permalink)
 HighRise1202 
houston
 
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Missed sweet setup at 8:45 Central Time. Don't know how I missed it.

Took goofy short later for a stop out.

Taking Friday off since the last two were brutal. Have a great weekend.


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  #289 (permalink)
 Big Mike 
Site Administrator
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Manta, Ecuador
 
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Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

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  #290 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 274 received

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

Feedback from other futures.io (formerly BMT) members
Increased self awaremess while trading
Increased honesty with myself on my trading performance
Improved performance :car:


B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

I often forget my trading plan in the heat of battle
I often make bonehead mistakes
I often don't have a target selected before I place the trade
I think I can make a profit with every trade
A mental proclivity will trump trading plan executions...with ease


C) Were you initially reluctant to start this trading journal? If yes, why?

It seemed insane to exhibit my level of trading skill for anyone to see.

D) How do you feel, overall, about your journaling experience?

It is not as good as receiving coaching from a professional, but much better than duking it out by yourself.

E) Would you recommend to others that they should also start a trading journal?

I highly recommend it. Ask someone who's doing it for pointers on getting started.

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  #291 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
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Posts: 407 since Sep 2010
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Thought there was double top early in trading period. There was, but not before a spike up to trap my bear foot...by 2 ticks.


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  #292 (permalink)
DCFX
USA
 
 
Posts: 7 since Jul 2010
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Orin,
Since everyone else seems to be on vacation right now, thought I'd chime in about your comments in the 4/3 video about not using stops.

In my opinion, that would be a bad idea - even though it's working for the trader you met, a stoploss has to be congruent with the method used. I believe this technique works primarily because of using small stops (and of course letting the profits run). In fact, even using your 7 tick boundary may be too much if you dont tighten it up when you have the room to do so... but the most important thing is that you set it having a TECHNICAL reason for where you put it - like a tick above the high/low of a potential pivot, in which case you can use an even larger or smaller boundary as needed.

If you can minimize it though, you can take several trades without suffering or losing your mindset. For example, with your entry at 838.4, you could have been stopped out with only 3 or 4 ticks instead of 7 and you may then have been more comfortable jumping back in at that double top. Since you've gone live, it looks like you're looking for the one silver bullet trade, but I'd suggest trying to tighten up your stops and not being too reluctant to pull the trigger more than once.

Just my opinion

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  #293 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
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DCFX View Post
Orin,
Since everyone else seems to be on vacation right now, thought I'd chime in about your comments in the 4/3 video about not using stops.

In my opinion, that would be a bad idea - even though it's working for the trader you met, a stoploss has to be congruent with the method used. I believe this technique works primarily because of using small stops (and of course letting the profits run). In fact, even using your 7 tick boundary may be too much if you dont tighten it up when you have the room to do so... but the most important thing is that you set it having a TECHNICAL reason for where you put it - like a tick above the high/low of a potential pivot, in which case you can use an even larger or smaller boundary as needed.

If you can minimize it though, you can take several trades without suffering or losing your mindset. For example, with your entry at 838.4, you could have been stopped out with only 3 or 4 ticks instead of 7 and you may then have been more comfortable jumping back in at that double top. Since you've gone live, it looks like you're looking for the one silver bullet trade, but I'd suggest trying to tighten up your stops and not being too reluctant to pull the trigger more than once.

Just my opinion

Yep, I know not using stops is foolish. But that other guy does it...

Will try the "tighten up" and appreciate your advice!

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  #294 (permalink)
 greenr 
london/england
 
Experience: Advanced
Platform: Sierra charts, NinjaTrader, VK Trader
Broker: CQG, AMP, VK, Kinetick
Trading: CL/6E/TF/ES
 
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Hey Orin, hows it going

We never got to catch up on Skype

Hows trading been going...???

Have been away from big mikes for a while now, been working hard trading and on a new web site

Hope all is well

regards

Ryan

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  #295 (permalink)
Billbb
GrandRapids, Michigan
 
 
Posts: 152 since Mar 2011
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HighRise1202 View Post
Thanks, Oztrader25, yes I need simplification.
Today my first 6 trades were losers. With the help of your comment I knew I was trying to watch too much and look for too many setups. I narrowed my setups to two and started to make some points. I'll stick with that tomorrow and report. (Problem; when I turn off Textandmarker on a Ninja chart and try to change back, they don't reappear.)

I havent looked at ur charts or anything but I spent probably a yr or more just going from tick, min, range, volume, and second for crying out loud! And indicators too, in that mode we tend to go back to varify that we dont like something just to be sure..am I right?

Its a process we all have to take, it comes down to sayen enough already! Stick w/ the one thing long enough to know it inside & out. If I give any advice Id say check this out. Price structure.

These were the build up to the purchase of Bear market Bulldgo which I eventually bought. 95% of the material is in these free promo's.


Video 1 - Renegade Trader
Video 2 - Renegade Trader BMB Video 2
Video 3 - Renegade Trader BMB Video 3
Video 4 - Renegade Trader BMB Video 4
Video 5 - Renegade Trader BMB Video 4

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  #296 (permalink)
 sptrader 
Colorado
 
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HighRise1202 View Post
Yep, I know not using stops is foolish. But that other guy does it...

Will try the "tighten up" and appreciate your advice!

****************************************************************************************
** I've come to recognize that it's NOT a good idea to show stops either. I used to get stopped out in stocks as well (many years ago) by one or two ticks numerous times per day- it drove me crazy..
But what do you do if you have NO stop and you're in a position and you lose your internet connection ????? My solution was to use a LARGE resting emergency stop at the broker(maybe 2x-3x your "real" stop) and a much smaller "real" stop, that I put on the chart as a horizontal line, that when breached by price action (alert goes off) and I close the trade.. you MUST be disciplined to do it this way, but it solved the problem for me.
Also you might find it handy to start with a little bigger stop initially and shorten it up as the trade goes in your favor.

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  #297 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
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Blueline said “dive dive” and turned out to be correct. Used 9/30 method; first trade good, second trade indie worked but I flubbed the entry , third indie failed by a tick. Fourth 9/30 went well but I bailed on a small pullback. Next trade was at SR line. Went 7 ticks and I should have gotten out from it’s long grind with some profit but instead watched it go to stop. OK, I’m trying to watch too many indies. Paying attention to my primary indies, I might have picked up on the strong V down on MACD 4181 at 9 AM Central and gotten 10 points. I did have "dive dive" short in mind...or did I forget?


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  #298 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
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Two 9/30 trades today. Both worked out. Again, I missed a sharp V MACD 610 move up at 9 Central. The 75 K had a nice head and shoulders forming which played out, moving up.


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  #299 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
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Wouldn't it be nice to have days like this more often?



Ryan in London suggested I limit the indies I've gathered to study. Too many, yes, I guess. Can't help it, though.


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  #300 (permalink)
 greenr 
london/england
 
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HighRise1202 View Post
Wouldn't it be nice to have days like this more often?



Ryan in London suggested I limit the indies I've gathered to study. Too many, yes, I guess. Can't help it, though.

Keep up the good work Orin

"Ones mission is not to fail, but to recognise improve and move foreword"


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