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Ctrl-Alt-Del Reboot Trading Journal
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Ctrl-Alt-Del Reboot Trading Journal

  #1 (permalink)
Elite Member
Green Bay WI
 
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Ctrl-Alt-Del Reboot Trading Journal

A fresh start. More to come.

Goal of this thread is to master Perry's newest paradigm after February 25th presentation to confirm personal fit (or not).
Develop and FOLLOW new money management rules (to include only trading sim until consistently profitable).
Renew focus, rules, trading plan, screens, method, tracking, analysis, bookkeeping, money management, and trading mindset.
Share journey, preparation, experience. Warts and all.
Moving forward.
Simplify. One method. One contract. One platform. One solution.


Last edited by rpm123; February 29th, 2012 at 01:38 PM.
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Quick Summary
Quick Summary Post

Psychology - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal.html#post193698

Money Management - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal.html#post195405

Charts - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal.html#post196135

Templates and Indicators - https://futures.io/elite-circle/18081-perrys-method-continuation-advancement.html#post195446

SetUps and Rules - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal-2.html#post197805

Morning Routine - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal-2.html#post197686

Instrument Selection - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal-2.html#post197692

Tracking Sheet - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal-2.html#post197730

Platform, Broker, and Machine - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal-2.html#post197678

Contest Threads Link - https://futures.io/feedback-announcements/17748-big-mike-challenge-3-win-750-prizes-4.html#post196978

Re-Tooling - https://futures.io/trading-journals/17841-ctrl-alt-del-reboot-trading-journal-4.html#post202914

Best Trading Times - https://futures.io/elite-circle/5242-intraday-seasonality-volatility-when-trade-when-not-trade.html#post58611 ; https://futures.io/elite-circle/5242-intraday-seasonality-volatility-when-trade-when-not-trade-8.html#post85772


Last edited by rpm123; April 11th, 2012 at 03:23 PM.
 
  #3 (permalink)
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Psychology


First and foremost it's about Psychology. We can learn methods, write rules, prepare a trading plan, create a great trading environment, and set oneself up for success. Since we were probably already successful in other endeavors, it's just another plan to succeed. Plan, execute, succeed.


Nope.
  • I'm use to managing outcomes over time, and loosely, trading is feedback loop is much quicker and unforgiving.
  • I'm use to be being in the Project Director/Manager role. The market is the boss, not me.
  • I'm use to being the decision-maker, trading should fit. Nope, much more personal.
  • I'm use to being right most of the time. Blown up a couple accounts being right in the markets.
  • I'm use to other people sweating the details. My trading analysis has fallen by the wayside.
  • I'm use to gathering lots of info and viewpoints. That can easily distract in trading - too many methods, indicators, charts, pretty colors, moving squiglies.
  • I'm use to success and acting with confidence. Blowing an account up can shake that belief in one self.
Solutions.
  • Find/develop a method that is a natural fit. Don't force it. In trying new methods, stick with it, analyze trades, keep an honest journal including feelings. Move on if called for, but don't mix and match.
  • Keep it simple. One method. One contract. Half a day schedule. Less than 5 trades. Respect and follow Money Management plan, even when I "know" better!
  • Sim is for dummies. Bull#$%&! If I cannot exercise discipline to trade in sim as I would with real money, guess what, I'm not going to be disciplined in my real account. And have not been.
  • Turn off the voices - no trade rooms, read less longer term financial news. Focus on immediate playing field, make my own decisions and knowing why, analyze those decisions.
  • Learn from the masters, but do not overload. Easy to overload on this great Forum. I always come back to Trading in the Zone. And I am committing to Perry's Paradigm as it looks to fit my style. And Perry's advice has been better than any I've ever paid for. Emulate a successful trader.

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Money Management

First goal is to live to trade another day. Second goal is to trade profitably.

Sounds too simple, but have never achieved either goal, for any length of time.

In the past, I've used sizing calculators, Risk/Reward/Ruin analysis, trade rules, daily rules, weekly rules, percentage stops, dollar stops, etc. And I may again. But this time I'm going to make it much simpler.

Sim trading -
  1. Sim a $5,000 account using one contract
  2. Meet and maintain 90% threshold of following setup rules - entry and exit
  3. Reach $10,000, use two contracts
  4. Meet and maintain 90% threshold of following setup rules - entry and exit
  5. Reach $20,000, meeting and maintaining 90% threshold, then Go Live
Live trading -
  1. Commit $10,000 to Live account, trading one contract
  2. Meet and maintain 90% threshold of following setup rules - entry and exit
  3. Reach $20,000, trade two contracts
  4. Meet and maintain 90% threshold of following setup rules - entry and exit
  5. Reach $40,000, meeting and maintaining 90% threshold, bank $20,000
  6. Rinse and repeat
Reset triggers - live trading, return to sim
  1. A 20% drawdown of current capital
  2. A drop below 80% of meeting and maintaining the 90% threshold of following entry and exit setup rules
  3. Return to Sim trading Step 1
So this time Money Management is about being true to my setups, my analysis, my progress, and a tough but realistic reset button.

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Charts

Last nite I downloaded Perry's templates and indicators. Today I watched.

Attached Thumbnails
Ctrl-Alt-Del Reboot Trading Journal-6e-03-12-5-range-2_28_2012.jpg   Ctrl-Alt-Del Reboot Trading Journal-6e-03-12-3-min-2_28_2012.jpg   Ctrl-Alt-Del Reboot Trading Journal-6e-03-12-1-min-2_28_2012.jpg  
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^^^^^


rpm123 View Post
Last nite I downloaded Perry's templates and indicators. Today I watched.


Patrick what do the triangles represent on your charts?
Thanks........................ sorry about the Pack.

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Tiberius View Post
Patrick what do the triangles represent on your charts?
Thanks........................ sorry about the Pack.

Howdy @Tiberius

Those are the fleeting triangles that show up when everything lines up. @osir noted in Perry's new thread that a setting to True on 5.1 Show History Status on the MTFAnalizer makes them less fleeting. I'm going to watch the video again to verify and see what else makes them tick. There is a lot to take in on Perry's refinements. He colors the bars now which might interest you.

The Pack finished poorly, that's for sure. Better to go in hungry and without a bye on your last game. Next year. We've got a great bench.

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3/1/12

Off to a good start, success-wise, but did not follow rules completely.

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Ctrl-Alt-Del Reboot Trading Journal-6e-03-12-1-min-3_1_2012.jpg   Ctrl-Alt-Del Reboot Trading Journal-3_1_12.jpg  
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rpm123 View Post
Off to a good start, success-wise, but did not follow rules completely.

What the indicators u are using?? also what's ur trading platform?

sorry for my childish questions but I am a Novice in the market? pls bear with me!!

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kkjalan View Post
What the indicators u are using?? also what's ur trading platform?

sorry for my childish questions but I am a Novice in the market? pls bear with me!!

You came to the right forum. Don't trade real money til you find what works for you. I've been distracted with alot of different systems, methods, platforms, etc. I'm working with Perry's new system, Ninja, and sim until I can learn to follow rules. Watch his seminar from last week and his new thread. And you can't go wrong going thru his old work either. Best of luck.

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