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Short term TF trading
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Short term TF trading

  #311 (permalink)
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Boomer34 View Post
IT7...quick question for ya.

Do you plan to turn on your charts at the same time each morning to start trading? How much flexibility do you have in this?

Basically wondering if you trade pre-market action or maybe if you like to wait for a certain number of bars to print before engaging...

Thanks again for the journal!

Honestly, I don't have a preference at this moment. I'm in central time zone, sometimes I'm looking at charts by 6:30AM, sometimes I'm not up and watching until 8:00.

If I had to say a routine, it seems like as of late I'm watching charts by 7:30 and will take 1 or 2 trades before 8:30 then fire away at will after that open volatility settles down after a few minutes.

With as short of timeframes as I trade, there's ample opportunity anytime before lunch, and sometimes all day. I have a very intense focus... like... really intense... rarely do I not have full concentration on the charts, rarely do I get up from my chair to go to the bathroom or eat, etc. I have a great girlfriend, and a lot of times she cooks some breakfast and comes and eats with me at my desk. I multitask a bit the past few months to stay active on futures.io (formerly BMT), but I find it only makes my focus stronger since it's absolutely necessary to do that.

I think I'm rambling now, but for a concise, and possibly disappointing answer, no I don't have any set plan for times that I trade. Just fire up and go when I'm ready!

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  #312 (permalink)
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Probably exited too early here...

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  #313 (permalink)
Trading Apprentice
Dallas
 
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Great log. IT7, it looks like you mainly trade the first 1-3 hours in the morning? That correct?

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  #314 (permalink)
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stok View Post
Great log. IT7, it looks like you mainly trade the first 1-3 hours in the morning? That correct?

That is correct. When I go back and look at charts, I sometimes think the movement looks nice and smooth later in the day, so I certainly wouldn't mind trading then. I guess I prefer to have laser focus for a few hours, and be done with it. If I'm not profitable in the first few hours, some days I stick around and keep grinding.

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  #315 (permalink)
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Recap for 6-8-12

Only traded for an hour this AM. Decent trading (could have let them run more). Two trades +25 ticks:
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Continually surprised by the results of focusing on minimizing my drawdowns.
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  #316 (permalink)
Market Wizard
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josh View Post
I like you more and more IT7; I did not realize we have so much in common. What you say here is heresy to many in the masses, but sweet music to my ears. Many are threatened by the "F" word (feel) and the "S" word (subjectivity), because they would prefer to turn their brains and humanity off, and let a computer or a static list of rules tell them what to do.

@josh, @indextrader7,

Totally agree. My father was a successful grain trader and all he carried was a small ledger in his pocket and an abacus on his desk, it was only "F" and "S'.

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  #317 (permalink)
Elite Member
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Quoting 
Continually surprised by the results of focusing on minimizing my drawdowns.

Would you mind elaborating on this point a bit? What have you changed? Better stops, only taking higher higher probability setups, or something completely different?

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  #318 (permalink)
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imPairsonator View Post
Would you mind elaborating on this point a bit? What have you changed? Better stops, only taking higher higher probability setups, or something completely different?

I think he quit averaging down in losing positions.

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  #319 (permalink)
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stok View Post
I think he quit averaging down in losing positions.

Wow, didn't think there would be such a gigantic difference only from no more averaging down. Very impressive.

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  #320 (permalink)
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Took half off at +13, hoping for the 2nd half to run run run.

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