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I am NOT a Trader
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Created: by eudamonia Attachments:0

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I am NOT a Trader

  #51 (permalink)
10 out of 10
Sacramento, CA
 
Futures Experience: None
Platform: None
Broker/Data: OX and DeCarley
Favorite Futures: Futures options
 
eudamonia's Avatar
 
Posts: 310 since Jul 2010
Thanks: 299 given, 424 received

Yesterday and ON levels

1300.75 responsive sellers
1292 acceptance
1287 initiative buyers
1280.75 acceptance
1273 rejection at prior acceptance

Main premise of the day was to be a buyer if we held above 1291/93. As soon as we started breaking above the 97-99 resistance area I had a target of 1303-04.

Wasn't around for the rest of the day so just 1 and done.

6:30a - Es open at 1293.75. OS low 1293.25. OS high 1296.5
6:43a - ES long at 1297.25 +2.5
6:51a - ES long at 1298.5 +4

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  #52 (permalink)
10 out of 10
Sacramento, CA
 
Futures Experience: None
Platform: None
Broker/Data: OX and DeCarley
Favorite Futures: Futures options
 
eudamonia's Avatar
 
Posts: 310 since Jul 2010
Thanks: 299 given, 424 received

Yesterday and ON levels

1322.75 responsive sellers
1314 acceptance
1302 acceptance
1298.75 responsive buyers

Main premise was that if we trade above 97-99 then we'll go to 18-19 area. Took one stab a little early on in the day at initial support but just wasn't convinced of price action. After it popped up I looked for the pullback at the 1308/09 area. Took a lot of conviction to hold this trade for about an hour of being absorbed against the 10.5/11 level.

6:30a - ES open 1304.50. OS high 1305.5. OS low 1301.75. Rejection Rev
6:36a - ES long 1302 -0.5
8:10a – ES long 1309.00. +1.75/+4.25

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  #53 (permalink)
10 out of 10
Sacramento, CA
 
Futures Experience: None
Platform: None
Broker/Data: OX and DeCarley
Favorite Futures: Futures options
 
eudamonia's Avatar
 
Posts: 310 since Jul 2010
Thanks: 299 given, 424 received


1342 responsive sellers
1336 acceptance
1325 initiative buyers/responsive buyers
1317.5 acceptance
1301.25 rejection at previous acceptance

My main premise was to short a break at the open to target 23-25 and 2nd target 17-19.

So why did I not follow my premise for the morning? The first mistake was missing the break, and the second was compounding this error thinking that responsive buyers would step in. The tape confirmed the break but did not confirm responsive buying.

I think I just had trouble believing what was in front of me.

6:30a - ES open at 1329.75. OS high 1330. OS low 1329. OAOR
6:42a - ES long 1323.75 -2/-2
7:08a - ES long 1318.5 +1.5/-2/-2
8:02a – ES long 1315.0 -1.5/+2.25
12:09a – ES long 1309.00 -1.5/+0

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  #54 (permalink)
10 out of 10
Sacramento, CA
 
Futures Experience: None
Platform: None
Broker/Data: OX and DeCarley
Favorite Futures: Futures options
 
eudamonia's Avatar
 
Posts: 310 since Jul 2010
Thanks: 299 given, 424 received

Yesterday and ON levels

1329 responsive sellers
1314.75 acceptance
1305.5 acceptance
1297 responsive buyers

Main premise was to short resistance zones at 08-10 and 15-17.

Once we held above the 08-10 level resistance became support and that was the premise for my second trade sequence for the day.

6:30a - ES open 1305.25. OS high 1307.25. OS low 1304. OAIR
8:05a – ES short 1307.25 -2/-2.25/-2.5
9:15a – ES long 1308.75 +1.75/-.25
11:02a – ES long 1309.5 +4.5

Main take away for the day was that risk control needed to be better on the 1st trade. 2nd and 3rd trade were managed well.

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  #55 (permalink)
Big John
Kennesaw, GA/USA
 
Futures Experience: Intermediate
Platform: NT,TS
Broker/Data: AMP, CQG
Favorite Futures: 6E, CL, ES
 
scrooge33's Avatar
 
Posts: 19 since Sep 2013
Thanks: 129 given, 14 received


eudamonia View Post
Ok let's assume this is true. Then if I am not making money as a trader I have no value and there is no reason to be trading other than $.

So today I had a losing trade. Am I not a trader?

Well you might say, "one trade is irrelevant".

So this month was a losing month. Am I not a trader?

Well you might say, "one month is not enough time".

So this year was a losing year. Am I not a trader?

How long will this perpetuate before the ego, the "I" in tradIng is destroyed? Will we not start to feel threatened, that our very being is under attack at the slightest drawdown? And will we not respond vigorously, doing everything in our power (like pulling our stop losses) to ensure that we never have a major losing streak? Where does this end? Probably when we've embraced our ego to the fullest and we "forced" the market to see things our way. And another account is destroyed, ego and confidence shattered (but still lurking in the background), and are we any closer to learning about ourselves? Is our sole focus on making money (the opposite of losing money) moving us any closer to success or pushing us further away?


Wow! Very well put.... Great choice of words! I sincerely felt your effort and meaning here. Point surely taken.

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