the sloppy trader
|January 12th, 2012, 07:46 PM||#1 (permalink)|
Trading for Fun
Futures Experience: Intermediate
Platform: sterling trader
Favorite Futures: gold spy
Posts: 75 since Jan 2012
Thanks: 0 given, 8 received
the sloppy trader
Ok so What makes this journal possibly different then others is the timing in my life which it is made.
A bit of quick history.
1. Started looking at trading last year.
2. Searched through many entry signals and could not find one that was relevant.
3. Stumbled across Andrews pitch fork and fine tuned it for a period of several months before trading. (Should be noted that this was the ONLY "tool" I looked in to as it was the only one that made sense). I Feel I have a much higher then average understanding of it. I find it is the best tool that shows resistance and support and can account for ALL market movement
6. Started day trading with a prop firm.
7. Lost my pants.
8. Realized there was something I'm not seeing
9 Usuing my information filtering techniques ( Same as the ones that led me to to Andrews fork) I tried to find a possible answer on line.
10 Found that by analysing my my entry's and exits I could discover what percent of the time i was right or wrong and adjust my risk to reward entries.
So Here we are in the present, one of my favourite time frames or at least it used to be.
I am now finding a way that i can use my forks IN THE SAME WAY each time. This will allow me to different ways to judge what entry and exit is best using the fork. A fork can be used a few ways in different time frames, in conjunction with other tools like "price action" one can use them for break outs or to go with the trend and each fork has a different relevance based on how many times a line was touched.
WHAT IS A FORK?
Think of it as an easier and earlier way to draw a channel based on very limited information. It is essentially a way to use micro movements such as a pulse to predict long term moves. an hour or two of information can be enough to "predict days of information.
WHERE HAVE YOU USED IT RECENTLY
I use it every day on every move. but more specifically it was used in finding the top 1900 or gold where we it touched the upper line. also even more recently we saw a low on gold that bounced off the bottom line. since that bounce of the bottom ( i think it was the day before new years around) we have only seen price go up.
In contrast I have also used it to find when trends will come to and end. Netflix was my study ground for the fork. it was just an upward trend. Using a new Technic I discovered that that Netflix would have a big fail.
For now you will not hear much about that but it would be nice if my learning brought me back to it
WHERE AM I NOW AND WHAT DO I PLAN TO DO
Right now I am the worlds most sloppy trader. At any given time i can find a reason to enter a trade. I used to make over 100 trades a day some times all based on forks on a micro tick chart level. I did this all on one chart the SPY.
What I plan to do is categorize my trades. and see which ones are more profitable.
Use different stocks so as to find the best time to enter instead of entering all the time on the same chart.
Also I may add another indicator or something to double my chances.
The first step in all of this is screening for stocks.
What I did today was a quick screen on think or swim software and pulled out some stocks. s and p high volume. filtering out anything that was at the ends of % increase bell cures this led me to a bunch of stocks. Out of that i went in the month,weekly, hourly of each one and drew in 1-2 forks for each time period.
Also i customized the forks (colors ect) to indicate what value each one has to me.
So that is the first little bit of work i have done to but some organisation to my work. Id say i ended up with about 10 charts that i liked and represented my forks well.
looking forward the goal is now to refine my search parameters (you will find that i am not tech savy)and have great difficulty with this besides scaning for volume and %increase.From there find a way to test different types of entrys this may be done in real time as back testing sounds to tech advanced for me.
jotting down what entry's yield what % return and what % of those entrys work.
Possibly adding something to reconfirm entry
and god knows what after that.
Any ways, if indeed people are participating i will continue . In the even this thread is not read for years and gets burried you can always try pm me. I enjoy my private messages and one should not hesitate to send one