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Short term TF trading


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Short term TF trading

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  #301 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Something I've been wondering about.... CTA Performance #'s (or lack thereof).

Started a thread on it in case anyone is interested in weighing in.


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  #302 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Decent trading today, I'll take it for sure.

+3
+12
-7
-9
+5
-3
+14
+5

=+20 average ticks per contract

Had two losers in a row where I on the first one I thought resistance would hold and thus fought a losing battle with the trend, and the second one shortly after where I thought there was a breakout failure - where I proceeded to lose to the trend again. At times I felt like I was the "weak hand" being shaken out, but I stayed fearless (kinda) and just re-entered once it looked safe again.l But the rest was good today.

You can see the two red arrows in the middle of the chart where I fought the trend. There was definite slowed momentum to support the idea though.




And here's the performance ratio I'm monitoring closely. It's amazing to see results from where you shift your focus.



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  #303 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I'm very happy with the reduction in drawdowns as of late. I know it's not entirely sustainable, and there will be strings of losses, BUT if I keep this laser focus... the large majority of the time I think I can keep my drawdown chart looking like this. (Which in case this seems really boring to you... makes your equity curve look like a very steep, straight line headed up... and that's a little more sexy).

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  #304 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Screenr - indextrader7: 6-5 Recap (sorry it got cut off at 5:00, but I was pretty much done)

One thing I wanted to add to that is on the few trades where I got stopped out trying to get long on the pullback (right before 9:00AM), now I see that I should just set my stop loss below the bull candle and let it do it's thing. If that's too far away for my risk appetite, I can simply trade less contracts. Not a novel concept I know, but still somewhere I see an area for improvement.

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  #305 (permalink)
 Traderwolf 
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IT7,

I have seen in your videos that you will at times buy a pullback and other times buy a breakout. I was wondering if your trading plan has detailed descriptions of setups or if it is more general in nature?

A detailed description of buying pullbacks might look something like(long example):

- Will on go long if above the 20 ema
- 20 ema must have a positive slope
- Must have at least 1 HL and 1 HH
- Pullback cannot exceed previous HL or close below 20ema
- Will buy stop limit bar bar break on 1st pivot pullback
- Stop below signal bar and cannot exceed 10 ticks
- Trade cannot go directly into same time period trendline
- Minimum target above previous high
- Stop to BE after 10 ticks or 1st target hit


A general description of buying pullbacks may look something like this:

I will buy all pullbacks in a trend until the trend loses momentum.

I have been back and forth on this(in my mind and in real trading) . I seem to do better in real trading when I have more specific rules and filters which give me less room to take discretionary trades on the fly. I take less trades with more specific rules and filters, but the success rate is much higher than when I trade with general rules.

Your consistency is very good and much better than mine, so would like to know how you go about this.

Thanks again for a great thread.

Wolf

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  #306 (permalink)
 indextrader7 
Birmingham, AL
 
 
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Traderwolf View Post
IT7,

I have seen in your videos that you will at times buy a pullback and other times buy a breakout. I was wondering if your trading plan has detailed descriptions of setups or if it is more general in nature?

A detailed description of buying pullbacks might look something like(long example):

- Will on go long if above the 20 ema
- 20 ema must have a positive slope
- Must have at least 1 HL and 1 HH
- Pullback cannot exceed previous HL or close below 20ema
- Will buy stop limit bar bar break on 1st pivot pullback
- Stop below signal bar and cannot exceed 10 ticks
- Trade cannot go directly into same time period trendline
- Minimum target above previous high
- Stop to BE after 10 ticks or 1st target hit


A general description of buying pullbacks may look something like this:

I will buy all pullbacks in a trend until the trend loses momentum.

I have been back and forth on this(in my mind and in real trading) . I seem to do better in real trading when I have more specific rules and filters which give me less room to take discretionary trades on the fly. I take less trades with more specific rules and filters, but the success rate is much higher than when I trade with general rules.

Your consistency is very good and much better than mine, so would like to know how you go about this.

Thanks again for a great thread.

Wolf

I think the trick (was for me at least) was to get beyond that rigidity/objectivity, and learn to trust my own subjective analysis and feel. You might as well be a mechanical system trader if you create such rigid rules. I believe the subconscious mind can process things that no computer will be able to.

Embrace the uncertainty. Manage whatever happens.

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  #307 (permalink)
 josh 
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indextrader7 View Post
I think the trick (was for me at least) was to get beyond that rigidity/objectivity, and learn to trust my own subjective analysis and feel. You might as well be a mechanical system trader if you create such rigid rules. I believe the subconscious mind can process things that no computer will be able to.

Embrace the uncertainty. Manage whatever happens.

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.

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  #308 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Boy, wish I could have traded today, some really nice movement, although that's always easy to say in hindsight! Changing some account structure stuff around today with Mirus, hopefully will be up and running tomorrow.

Hope you guys banked some ticks today.

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  #309 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Going well. Might be done for the day, as it's really nice outside! Tennis? Golf? Shooting? Time will tell.


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  #310 (permalink)
 Boomer34 
Kampala, Uganda
 
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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!

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  #311 (permalink)
 indextrader7 
Birmingham, AL
 
 
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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)
 indextrader7 
Birmingham, AL
 
 
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  #313 (permalink)
stok
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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)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


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)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Only traded for an hour this AM. Decent trading (could have let them run more). Two trades +25 ticks:





Continually surprised by the results of focusing on minimizing my drawdowns.

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  #316 (permalink)
 aligator 
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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)
 imPairsonator 
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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)
stok
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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)
 imPairsonator 
Thessaloniki, Greece
 
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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)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Took half off at +13, hoping for the 2nd half to run run run.


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  #321 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

closed out as we get some buying off the gap fill.

I'm probably done for the day... +13 ticks on the first half, and +50 ticks on the 2nd half.

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  #322 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Only one trade today. +30 ticks (average tick per contract).


I have been making a lot fewer trades as of late, and my stats are really improving. It's also part of the move I've made away from scalping. You can see what the daily ticks p/l looked like for the past month when I was scalping, and what it's done since I went back to price action.


Happy trading everyone.

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  #323 (permalink)
 mstier 
San Francisco
 
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IT7,

I just finished reading through this thread, wanted to thank you for the willingness to share your thoughts, charts, trades, shortcomings, etc. This thread has been invaluable to me.

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  #324 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Just got a new book in, and I'm looking forward to reading it. I'll give an update after I finish it.

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  #325 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Starting off the morning disappointed with myself for hesitating and not entering long when I should have, thus watching the market make a 40+ tick run up without me. Yes I know, more opportunities abound, but I'm just noting my emotions. We'll see how price reacts to 51.5

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  #326 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I"m getting destroyed.

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  #327 (permalink)
 HighRise1202 
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We're channeling, no?

indextrader7 View Post
I"m getting destroyed.


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  #328 (permalink)
 kbit 
Aurora, Il USA
 
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indextrader7 View Post
I"m getting destroyed.

just take a few minutes off...sounds like missing the early stuff has you chasing garbage now

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  #329 (permalink)
 kronie 
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indextrader7 View Post
I"m getting destroyed.


at this point, take time to breathe,

then take time to carefully document everything,

1) your charts,
2) your emotional disposition,
3) your approach,
4*) your expectations from the positions that made you loose
5) your timing of the entry of the opening of the position
5a) what time was it in relation to the end of trading day?
5b) what chart pattern and technical analysis did you use as your primary decision making factor?
5c) what other technical indicators were in your favor or against?
5d) did you use some stupid concept of "waiting until the bar closes to enter"?
5e) did you have a preponderance of evidence to convince you to risk your capital on that position?
(i.e. how many technical patterns or indicators were agreeing or shouting against your decision)
5f) define how your expectation was going to play out, under "those" market conditions
(i.e. you entered on a retrace bottom as it was upturning, and you moved your stoploss up to BE, etc...)

6) be honest
7) accept the fact that you are documenting a losing position and a losing trade
8) try to turn off the guilt factor and
9*) use this BDA (battle damage assessment) as a learning experience, an expensive learning experience



hope that helps

good trading to you!

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  #330 (permalink)
 kbit 
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I'm thinking we should get 748.3 and probably 747.3 or more but the 48.3 at least

Gonna chop all over the place but that should get printed

Edit: need more sleep had to change #s
Edit again : had it right the first time...going back to bed......

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  #331 (permalink)
 HighRise1202 
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Someone's protecting 748.4 like their life depended on it (or Obama is their boss).


kbit View Post
I'm thinking we should get 747.3 and probably 746.3 or more but the 47.3 at least

Gonna chop all over the place but that should get printed

Edit: need more sleep had to change #s


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  #332 (permalink)
 kbit 
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HighRise1202 View Post
Someone's protecting 748.4 like their life depended on it (or Obama is their boss).

Don't listen to me I'm sleep deprived

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  #333 (permalink)
 HighRise1202 
houston
 
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Finally!

kbit View Post
Don't listen to me I'm sleep deprived


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  #334 (permalink)
 kbit 
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looking for 743.1 ultimately on this one.....let's see what happens

scratch that.....dumped it

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  #335 (permalink)
 indextrader7 
Birmingham, AL
 
 
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  #336 (permalink)
 indextrader7 
Birmingham, AL
 
 
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Just took profits.

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  #337 (permalink)
 kbit 
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I'm flat ....gotta take a break

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  #338 (permalink)
 HighRise1202 
houston
 
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Profits are good.

Could bounce around 744.2


indextrader7 View Post
Just took profits.


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  #339 (permalink)
 indextrader7 
Birmingham, AL
 
 
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I'm flat ....gotta take a break

I'm $200 behind you, and will be joining you on that break as well.

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  #340 (permalink)
 indextrader7 
Birmingham, AL
 
 
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Profits are good.

Could bounce around 744.2

We have had every level the same today... to the tick.

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  #341 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

short 6.9

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  #342 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

out

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  #343 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

BREAK TIME. wheeewwwwww

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  #344 (permalink)
 Boomer34 
Kampala, Uganda
 
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kbit View Post
looking for 743.1 ultimately on this one.....let's see what happens

scratch that.....dumped it

Nice call...

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  #345 (permalink)
 Victory Trader 
LA, California, USA
 
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Around the 55 - 56 area TF ( thought I would join in the fun if that is ok)

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  #346 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Come on in Victory Trader, I'm looking for a long pullback entry soon.

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  #347 (permalink)
 Victory Trader 
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indextrader7 View Post
Come on in Victory Trader, I'm looking for a long pullback entry soon.

Waiting for poss neg divergence based my 6 tick renko bars/my system - And yea looking for a decent pullback after a such a run. - Hope to see a short develop in the 55 to 56 area - We shall see!!!

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  #348 (permalink)
 Victory Trader 
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LONG 750 though - Going for 8 ticks

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  #349 (permalink)
 Victory Trader 
LA, California, USA
 
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Victory Trader View Post
LONG 750 though - Going for 8 ticks


I would consider this one an aggressive trade... 2012-06-12_0922 - QuickTimeTrader's library

I kind of messed up on this trade ...Didnt see that my ATM was in place so had to set stop manually!!! - I hate it when I do that!!!

LOL - Sorry about the vid in the video... Good grief!!!

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  #350 (permalink)
 indextrader7 
Birmingham, AL
 
 
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Victory Trader View Post
LONG 750 though - Going for 8 ticks

Well played.

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  #351 (permalink)
 Victory Trader 
LA, California, USA
 
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....set up around the 54 to 56 area... I really think this is the calm before the storm based on my daily chart.

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  #352 (permalink)
 Victory Trader 
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Victory Trader View Post
....set up around the 54 to 56 area... I really think this is the calm before the storm based on my daily chart.

didnt go exactly as planned but will see what happens.. Will go for 8 ticks again.

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  #353 (permalink)
 Victory Trader 
LA, California, USA
 
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Victory Trader View Post
didnt go exactly as planned but will see what happens.. Will go for 8 ticks again.

Had a 5 tick stop out on that last short trade....


I am still looking for the set up I wanted with neg divergence in the area marked on the chart (will post the vids after I have completed my trade)

Screen shot - 2012-06-12_1032 - QuickTimeTrader's library

Just watching to see if it pans out - if not...Well I guess I am going long if it sets up.

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 Boomer34 
Kampala, Uganda
 
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I'm surprised topping the highs has not triggered a run...

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 Victory Trader 
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Boomer34 View Post
I'm surprised topping the highs has not triggered a run...

becuz we are in a SUPPLY zone on many of the time frames... CONFLUENCE - I went short 54 - and only took 5 ticks - (got my 5 tick stop out back- lol)

Vid 1 stop out trade - 2012-06-12_1030 - QuickTimeTrader's library

Vid 2 getting it back - 2012-06-12_1047 - QuickTimeTrader's library

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 indextrader7 
Birmingham, AL
 
 
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I'm short from 54.3, target 50

out part2 @ 52.7

looking for re-entry

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 Victory Trader 
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indextrader7 View Post
I'm short from 54.3, target 50

out part2 @ 52.7

looking for re-entry

...good target area if it can weaken in here - I do see the postential of it blowing out the recent top - Shall see!!

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 Victory Trader 
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Just a fast one... I still think we see more decline, but watching closely!!!


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 Victory Trader 
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Just a fast one... I still think we see more decline, but watching closely!!!

GOOD GRIEF talk about getting chopped up ... Only going for a quick 6 tick scalp on this one...

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 Boomer34 
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GOOD GRIEF talk about getting chopped up ... Only going for a quick 6 tick scalp on this one...

Yeah...really choppy right now

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 Victory Trader 
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I can t beleive I got it - 2012-06-12_1121 - QuickTimeTrader's library

It seems like it is trying to base in here.... Quite the battle to say the least!!!! I am going to step aside for abit till we get some sort of direction!!!!

Still think we could re-test highs and then some - Shall see!!!

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 indextrader7 
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Victory Trader View Post
I can t beleive I got it - 2012-06-12_1121 - QuickTimeTrader's library

It seems like it is trying to base in here.... Quite the battle to say the least!!!! I am going to step aside for abit till we get some sort of direction!!!!

I'm short at 52.9, flirting with getting stopped out if it breaks up any more.

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 Victory Trader 
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indextrader7 View Post
I'm short at 52.9, flirting with getting stopped out if it breaks up any more.

On holding on - Hoping it pays off for you!!!

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 josh 
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Victory Trader View Post
GOOD GRIEF talk about getting chopped up ... Only going for a quick 6 tick scalp on this one...

You'e inside the noise. Probably better to either wait, or pick a direction, rather than trying to play the noise. At least then you either win or lose once, rather than reversing it to death in the middle.

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 Victory Trader 
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josh View Post
You'e inside the noise. Probably better to either wait, or pick a direction, rather than trying to play the noise. At least then you either win or lose once, rather than reversing it to death in the middle.

...in a trade... You must of missed my post when I said i would sit on the side lines for a bit to see the direction of this thing... Crazy action here!!!!

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 indextrader7 
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My goodness....

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 Boomer34 
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Tell me about it...this is pretty frustrating to sit and watch.

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 Victory Trader 
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32 lin reg line - on a 5 min, 15 min, 30, min and a 60 min chart for kind of keep me on the right side of this thing... In watching the 30 lin reg - It was risky IMO to look for shorts or at least just take quick scalpers which I do at times.

I also use SUPPLY and DEMAND areas - Still think over the next couple of days we could see a pretty good decline yet...Just something I am keeping my eye on...

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 josh 
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...in a trade... You must of missed my post when I said i would sit on the side lines for a bit to see the direction of this thing... Crazy action here!!!!

I see that now--but I saw one where you are going for 6 ticks scalps.

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 Victory Trader 
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josh View Post
I see that now--but I saw one where you are going for 6 ticks scalps.

...that is what I usually go for is 6 ticks... unless I see things that tell me I can go for more... In reviewing one of my trades I see that I broke one of my rules according to my system... Glad it worked out. I have been working very hard at being disciplined with my trading ( been trading since the mid 90's and still working on it - LOL)

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 Victory Trader 
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...We shall see if it get there by the close.... Cant be that hard LOL - Its the TF we are talking about!!!

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 Victory Trader 
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... Shall see what happens.... Going for 6 ticks!!!

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  #373 (permalink)
 Victory Trader 
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Victory Trader View Post
... Shall see what happens.... Going for 6 ticks!!!

...TRADES THIS LONG...Esp scalpers - Not liking this one... But will hold out!!! - I dont see to much more upside here... But anything can happen in this crazy market!!!
===========
Took 8 tick stop on that one....

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 Victory Trader 
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May go for 10 ticks plus - Shall see!!!

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 josh 
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Victory Trader View Post
...We shall see if it get there by the close.... Cant be that hard LOL - Its the TF we are talking about!!!

What is special about 57? I don't trade TF, but it looks like perhaps 760 might be appropriate.

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  #376 (permalink)
 Victory Trader 
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josh View Post
What is special about 57? I don't trade TF, but it looks like perhaps 760 might be appropriate.

...SUPPLY there at 57 which could hold the price action down there.

If it gets through there the 62 area would come into play!!!

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  #377 (permalink)
 mstier 
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I don't want to be a bum, but it seems like someone's thread might be getting hijacked

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 Victory Trader 
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mstier View Post
I don't want to be a bum, but it seems like someone's thread might be getting hijacked

Just to clarify... Is this thread for trading the TF? For people/traders to post stuff in regards to the TF?

If I am wrong ...Please forgive me!!!
======================

Got stopped on that last trade - Now short 54.58
======================
Done for the day - Took a 2 tick stop out on that... - Hope you guys have great night!!!

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 Victory Trader 
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josh View Post
What is special about 57? I don't trade TF, but it looks like perhaps 760 might be appropriate.

What do you trade mainly?

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 Boomer34 
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josh View Post
What is special about 57? I don't trade TF, but it looks like perhaps 760 might be appropriate.

56.9 is Pivot

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  #381 (permalink)
 Boomer34 
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There 57 is...

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 Victory Trader 
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Boomer34 View Post
There 57 is...

Gotta love it when a plan comes together... (cuz it is not that often... lol)

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 kbit 
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Just to clarify... Is this thread for trading the TF? For people/traders to post stuff in regards to the TF?

If I am wrong ...Please forgive me!!!
======================

Got stopped on that last trade - Now short 54.58
======================
Done for the day - Took a 2 tick stop out on that... - Hope you guys have great night!!!

I don't think indextrader views you or I as a trespasser ....there's nothing wrong with posting a trade idea once in a while. I don't come to this thread that often but I suspect you won't be blacklisted

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 Victory Trader 
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kbit View Post
I don't think indextrader views you or I as a trespasser ....there's nothing wrong with posting a trade idea once in a while. I don't come to this thread that often but I suspect you won't be blacklisted

...funny that here Index is looking for other traders... as I am sure most here at BM are...

Hijacked...Good grief!!!

Anyways, I like your trading style Index... Been watching your vids etc... Good stuff!!!

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  #385 (permalink)
 Boomer34 
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WOW!

That was some crazy quick action right there at the highs!

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 Victory Trader 
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Boomer34 View Post
WOW!

That was some crazy quick action right there at the highs!

If we dont see the 65 area over night... We shall see!!!!!

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  #387 (permalink)
 Beljevina 
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Boomer34 View Post
WOW!

That was some crazy quick action right there at the highs!

Same thing happened in ES. In fact, within 10 seconds after the precise 4pm EST cash close, there were huge 'buys' placed on ES, meaning, very likely the next level of shorts getting stopped out. (I monitor the GOM ladder for ES). And, the total number of 16K+ buyers on the 4:05 close bar is the single biggest of the day on a 5-min ES 09-12 chart (second biggest buy/stop out run was 7.7K buyers) IMO, a suckers rally and stop sweep for the day - I'd not seen 'genuine' or real buying, only those forced.

Word is that stops are up to at least 1321 (which is the 50% of yesterday's decline)


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 trendisyourfriend 
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kbit View Post
I don't think indextrader views you or I as a trespasser ....there's nothing wrong with posting a trade idea once in a while. I don't come to this thread that often but I suspect you won't be blacklisted

From the first post in this thread:

Quoting 
I hope having this journal will help me continue to grow and keep improving. I look forward to sharing what I know, helping, and learning from you.

The key words are: "...will help me continue to grow..."

In what posting trade ideas or entry/exit can help him to grow? Maybe you are ready to start your own journal.

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 kbit 
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trendisyourfriend View Post
From the first post in this thread:


The key words are: "...will help me continue to grow..."

In what posting trade ideas or entry/exit can help him to grow? Maybe you are ready to start your own journal.

You know where I post my ramblings


Aside from that...... substitute "badges" for "journals"

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 josh 
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josh View Post
What is special about 57? I don't trade TF, but it looks like perhaps 760 might be appropriate.


Victory Trader View Post
...SUPPLY there at 57 which could hold the price action down there.

If it gets through there the 62 area would come into play!!!


Boomer34 View Post
56.9 is Pivot

The attached chart shows yesterday's area of consolidation in the afternoon, with the selling pressure really starting around 61. While 57 may be the pivot Boomer, and while some traders may pay attention to it, it's just another number, and 57 was mostly in "no man's land." Put another way, given the attached chart, if you were selling, where would you do so? Anything can happen, but where are serious sellers more likely to actually step in (whether they are closing longs, or initiating new shorts)? It could have gone higher (though not likely given time of day), or it could have reversed from 56, but we're talking about likely targets. As I said, I do not trade the Russell any more and I'm much better friends with the ES, but markets are markets, and often looking to the left yields the simplest and most appropriate answer.


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 Boomer34 
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What size tick charts are you guys using on the TF (if you are a tick guy)?

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toucan94506
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Boomer34 View Post
What size tick charts are you guys using on the TF (if you are a tick guy)?

I just switched from 400 to 300 ticks for trading TF


cheers

toucan

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  #393 (permalink)
 indextrader7 
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Yesterday was by far the worst trading day I've had since I began full time in February. -$2660 down for the day. I had battled back from being down and was up a few hundred, despite my many mistakes and horrendous trades throughout the day, then I let a 4 contract position go way way way way against me for a massive loss. I'm quite shell-shocked to be honest. I'll be posting a review and trying to get to the bottom of this. I really thought I was past being capable of doing something like this. Disturbing.

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 josh 
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indextrader7 View Post
Yesterday was by far the worst trading day I've had since I began full time in February. -$2660 down for the day. I had battled back from being down and was up a few hundred, despite my many mistakes and horrendous trades throughout the day, then I let a 4 contract position go way way way way against me for a massive loss. I'm quite shell-shocked to be honest. I'll be posting a review and trying to get to the bottom of this. I really thought I was past being capable of doing something like this. Disturbing.

It takes guts and character to post about a large loss like that. I respect you very much for that reason. We have all had huge losers at some point most likely, I know I sure have. That does not make you a poor trader, it just reminds you of your humanity. Get back in the saddle, and don't try to make it all back in one trade. Have a max loss per trade rule, and as hard as it might be, once that's done the lesson's learned, and try to forget it ever happened.

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 indextrader7 
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As I said earlier. I did some really really bad things yesterday, and I'm pretty sick over it. Here is part one of recapping the trades made.

Screenr - indextrader7: 6-12 Trade Recap (Part One)

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 indextrader7 
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Screenr - indextrader7: Trade Recap 6-12-12 (Part Two)

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 indextrader7 
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Screenr - indextrader7: 6-12-12 Trade Recap (Part Three)

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 mstier 
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Well sir, that's definitely a rough one. My thought was that sometimes our strengths can become weaknesses at times.


PS sorry if I bothered anyone with my comment yesterday.

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michalmalec
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Hello Indextrader7

Thanks for your thread, it's very good. I am new to this forum.

Thanks for yesterday report. you are very honest. We all can learn from it. Especially part 3 video.

I am not somebody who can give you any advice about trading, because i am not so good as you are, but
stay positive and learn from it, in the end it's only 2 600 $, that's not bad for such a lesson.
Think about it as an education. Maybe you can print that last trade and put it above your computer to
remind you to stick with your rules and plan. I have experienced similar thing in my very short trading history


I do have a technical question, if you don't mind to answer?

I did read whole thread and i quite like it, i started to experiment with tick charts this week, just watching them,
not trading from them yet, but i do have a following problem.
I use CQG data, but when i open a tick chart (200 tick) at the start of the session and when i reload that same chart in the end of the session, bars look a little bit different, It is usually good for first two trading hours and then it starts to change a bit, it seems that i am loosing ticks somewhere or i don't know.
I use CQG data and ninjatrader. It looks, that charts in realtime look different from a backfill for the same session, this happens especially when the market is volatile. Can you help me with this, what am i doing wrong?
bad data provider? lag in internet connection? or? What data provider do you use?
Thanks for answer. Hope you don't mind.

Thanks againg for everything and sorry for my english, i am not a native speaker so it's very simple.

Good luck and stay disciplined

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 indextrader7 
Birmingham, AL
 
 
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mstier View Post
Well sir, that's definitely a rough one. My thought was that sometimes our strengths can become weaknesses at times.


PS sorry if I bothered anyone with my comment yesterday.

You certainly didn't bother me. This is, afterall, a journal thread. I enjoy having people on and posting trade ideas and such, if it's for the benefit of others learning. I would prefer for people to put reasoning behind things if they're going to do so, so we can all learn from each other's thought process.

Tell me what you mean when you say your thought was our strengths can become weaknesses at times?

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