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Koyaanisqatsi Hototo--wldman out of balance
Started:May 14th, 2012 (07:40 PM) by wldman Views / Replies:49,866 / 695
Last Reply:November 1st, 2016 (03:53 PM) Attachments:53

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Koyaanisqatsi Hototo--wldman out of balance

Old June 12th, 2012, 09:53 AM   #151 (permalink)
Market Wizard
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Yeah Wldman...

bot 80. Not a stellar trade by any means because it was a one lot and born with a tiny target. But it's better than missing the show as I did with the first chance.

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nothing on nothing working

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Old June 12th, 2012, 10:08 AM   #152 (permalink)
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Back to missing the show.

However, if a method has no way of evaluating and capturing a spike move like that, then so be it. Is that comment driven or related to the 300,000 contract bid in gold? That was rumored earlier but looking at the uptick looks like it happened.

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Old June 12th, 2012, 11:23 AM   #153 (permalink)
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Thank goodness for the arcade...


to keep me off the chart.

Sell comes in at 1.2490 and primary target is taken out next bar at 79. Second target at 58 (the gray outer band) and then out at 62 off a profit lock stop...one that looks a lot early now. Good thing trading is not a game of perfect.

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Old June 12th, 2012, 11:33 AM   #154 (permalink)
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84 ticks, but...

feeling like a putz anyway. I need the break this vacation will provide. I'm just not thinking clearly all the time. That is NOT to complain, or say that the performance is bad...just to note that I could get a little more out of what is being given.

When I started the thread I thought I'd draw more comments or questions. I wonder about that a bit as the secondary purpose was/is to help other people find their own method in the madness.

Consistent with the primary purpose, responding helps me define my process. I also though that guys would chime in with the obvious ways that I could improve my "view". Not being adept with coding, that would also help me clear things up.

At any rate, I'm done for the day. Trade well everyone. DB

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Old June 12th, 2012, 11:55 AM   #155 (permalink)
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Sell setting up...

Futures Edge on FIO

Are you a NinjaTrader user?

 
if I was hanging around today I would sell this on a bar close below the blue bands.

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Old June 13th, 2012, 11:18 AM   #156 (permalink)
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Hello Wldman

Really nice to read your journal.

Interesting to see that even the most experienced traders can have their "off days". I guess the real trick is to kill them small like you said before.

I'm just a beginner and I was trying to understand your approach a bit better.

As I understand it, you usually enter on a cross of the zero line on the acci (continuation of a st trend) or on a rejection of the zero line (pullback entry). You try to avoid trades that are close to the 200MA (low R/R) and you usually take your profits at the outer BB.

Two questions:
-What are the 2 bands in the middle of your charts? I hope that's not a stupid question....
-How do you usually pre-define your profit targets if the BBs are always changing value?

Thank you for the input and I hope to learn more in the future posts!!!

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Old June 14th, 2012, 10:02 AM   #157 (permalink)
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Thank you...

@traderf1

I am happy to hear that you enjoy and may benefit from the posts here.

Absolutely critical in this business that you recognize when conditions are against your position AND kill the loser little. Almost everyone knows right away when the tape is against them. Most tend to hold their view and remain certain that they are correct and that the market will come around to their view. That is insane. Even worse is the notion that suspends reality and convinces someone to "double up" on a loser to average their price. That is for LOSERS! Never ever average a loser. If you learn to add to winners and lock profits as you go, you will bank a tall stack real quick.

Exactly right on the "off days". In the trailing 12 months I have had 14 losing days. Granted there are many days (50-60) on which I did not trade, but here is the deal. I suggest that you journal every trade. Go back and study the how and the why and spend twice as much time looking at the losers. The losers hold the lessons. Make it your mission to eliminate or improve the worst 20% of your trades. In time you will be looking at exits on winners. It sounds strange, but your cognitive rubric will become focused on avoiding or extending little winners. You will become aware of risk/reward set ups in a a different way. I can explain that in detail later if you'd like.

As for this template and what is displayed. The actual "trigger" is a bar close above or below the modified bollinger bands. The acci zero line cross very often is the final set up indicator and I do like those to be co-incident. So yes the inner blue channel is a 21 period bb at .25 standard deviations. Those outer bands are a very interesting story. They are simply two incidents of keltner channel, 36 period, 3x the period atr...the outer band 4.32x atr.

My intent in the thread was two fold. I did not plan to lay out indicators or settings or application of trade logic until someone asked. So I am happy that you did that. Tomorrow I depart for a few weeks and I will not be posting. However, when I return I will pick that up and go through each of the elements here and give the why and the how of it.

3 or 4 nice trades in there today before 8am

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Old June 14th, 2012, 10:30 AM   #158 (permalink)
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Thank you for the post, WLDMAN

I'm looking forward to your explanation on the risk/reward setups when you are back.
I will study some of your indicators on my charts to see if they make sense to "me". Thanks for sharing the template!

I hope you enjoy your break!!!

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Old June 15th, 2012, 09:58 AM   #159 (permalink)
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Thanks for the journal

Hi Wldman,

Just a note to say thanks for your journal. I check in every day as I trade currencies on 15 minute timeseries. Love your honesty and battle cries!

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Old June 15th, 2012, 11:32 AM   #160 (permalink)
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wldman is...


on vacation for a while. I will have very limited access and can only check futures.io (formerly BMT) when my wife is not looking. Please post and input or questions. I am looking forward to a cleaned up view and a big summer when I return.

One last chart...crunched together and with the Gom MP showing. Also drew in a few divergences for fun. Trade well everyone. DB

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