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Short term TF trading
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Short term TF trading

  #471 (permalink)
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josh View Post
This is something I have considered adding to my stats but have just not done it yet. I do not do an NT export, as I typically have fewer than 5 or 6 trades on average per day, and I only care about the risk, drawdown, profit, time in the trade, max size during the trade, and time of day the trade is taken (and not even using those last two data points at this moment). NT sometimes does not calculate some of this the way I would like it to so it's easier for me to take the 1 minute per trade to enter it, and then I can have an intraday up-to-date picture instead of having to do an export.

I've been working on automating the stats I want via gomi's NT trade database framework, but haven't got the glitches worked out. But you're right, if you're not doing dozens of trades per day it's probably easier to just do it manually, except that scales would complicate things.

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  #472 (permalink)
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indextrader7 View Post
Analyzing scales? Could you be more specific with what you're trying to accomplish?

Sure. I tend to be very skittish on my scales, and would like to have hard data on efficiency for each exit (both in terms of giving back and leaving subsequent moves on the table), vs what my early exits may save me on other occasions.

Here are my two trades today, you can see I was out early both on the scales and on the whole.

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  #473 (permalink)
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futuretrader View Post
Sure. I tend to be very skittish on my scales, and would like to have hard data on efficiency for each exit (both in terms of giving back and leaving subsequent moves on the table), vs what my early exits may save me on other occasions.

You can run data data data on this, and won't find the answer. The markets change throughout the months/years. It really comes down to (for me) scaling out of a trade is a psychological win, and the better my psyche... you know the rest.

If you're trading half as good as you did today, you don't have much to worry about!

If you're wondering what I do for my stats with scaling... I use a excel VBA code to consolidate my scaled trades into one trade for stats, I no longer keep up with "what if", "should have", and "could have" with my trades (unless I see flawed analysis in hindsight, but that's a different story). The point is that I don't question scaling out and wonder how I could have done better, because one time it will be better, one time it will be worse, etc. OH ONE THING TO NOTE, IF THE MARKET IS IN A RANGE, THEN I DON'T SCALE OUT, I TAKE IT ALL OFF AT THE RANGE LIMITS. (Continue previous thought): I used to pour over that stuff. I had multiple partial exits based on ma crossover, MACD divergence, and a hard pip target. Constantly tweaking it. My years of going through all that over and over led me to the realization that there isn't much I can do other than look at levels that might provide fuel (orderflow) counter to my trade direction (support/resistance, trendlines, etc) so I usually take some profit there, and allow the rest to run until I don't want to be in the trade anymore for whatever reason.

The closer I get to automating things, the less and less successful I become. Just my experience. May not apply to you, as I don't know if I found a universal truth, or just a truth for my personality! Who knows.

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  #474 (permalink)
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indextrader7 View Post
I use a excel VBA code to consolidate my scaled trades into one trade for stats

Maybe I'm misunderstanding, but in NT under Account Performance -> Trades, you can select "Group trades by ATM strategy" and any scaling you did from flat to flat will be calculated into a single trade, and your entry price will be adjusted as will your exit price to give you one single "trade."


indextrader7 View Post
The closer I get to automating things, the less and less successful I become.

Ditto. Cheers and a good weekend to you.

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  #475 (permalink)
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keltner bands


indextrader7 View Post
I wouldn't say I follow that scalping strategy to the T. Some days I don't even scalp and trade larger swings, sometimes I do follow ytc scalper style(certainly have been as of late), sometimes I use a slightly different mean reversion style with keltner bands. Mainly what I do is trade price reactions to S/R levels, and pullbacks within a trend. Whatever the market is doing that day depends on what method I use to find entries.

How do you take and or identify a reversal with Keltner Bands ? is there any other indicator or tool that you use for a reversal with the keltners like a Stochastix ?
Regards.

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  #476 (permalink)
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josh View Post
Maybe I'm misunderstanding, but in NT under Account Performance -> Trades, you can select "Group trades by ATM strategy" and any scaling you did from flat to flat will be calculated into a single trade, and your entry price will be adjusted as will your exit price to give you one single "trade."



Ditto. Cheers and a good weekend to you.

With the NT group by ATM strategy, it doesn't work out well. I end up adjusting a position, or having to close out the ATM orders and enter seperate stops or take profits if they've gotten combined. Just too many ways for me to not be able to hit group by atm at the end of they day.

So it's a simple export from the executions tab, and I'm good to go.

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  #477 (permalink)
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rainbowchaser View Post
How do you take and or identify a reversal with Keltner Bands ? is there any other indicator or tool that you use for a reversal with the keltners like a Stochastix ?
Regards.

Well first it depends on the market environment. Are we in a strong trend with shallow pullbacks, a weak but steady trend with deeper pullbacks, are we so over extended that I'm expecting a complex multi-leg pullback, range bound, etc.

Then I just look for a candle pattern usually (or a candle close showing strength in my anticipated direction).

So really it's just getting a feel for how price is moving in relation to those keltner bands/moving averages/bollinger bands/etc and having an edge from that intimate knowledge of the movement/rhythm.


Last edited by indextrader7; July 16th, 2012 at 05:26 PM.
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  #478 (permalink)
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Trade Recap 7-16-12

Started out the session on the wrong side of the future price action, and even made a real bonehead trade when things weren't going my way, but took a minute and removed all bias so I could read what was happening, and scaled into a nice big winner to end the session.

Here's the video recap:
Screenr - indextrader7: 7-16 Recap

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  #479 (permalink)
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Looking back a bit

It's amazing to see the improvements I've made in my trading through the years...even since this thread was started in April. I went back through a lot of the older videos here and was really horrified at some of the trading. I know I'm negative a lot and mainly focus on what I did wrong most of the time. That's good... to a certain extent... so I just wanted to give myself a little pat on the back for continuing to sharpen and grow.

It's really neat to go back and look at my trading journals from years ago. I think I'm going to scan some entries and share with you guys. As always, the good and the bad, as well as the ugly. It helps to see it all... both me and you I hope.

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Hand written journals


Ok, I went through the first notebook of the six trading journals I've written. I scanned some of the pages that stood out to me as more significant learning points or interesting things. I'll share them with notes on the posts to follow.

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