Koyaanisqatsi Hototo--wldman out of balance (Page 63) - Trading Journals | futures.io
futures.io futures trading
 

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Trading Journals


Koyaanisqatsi Hototo--wldman out of balance
Started:May 14th, 2012 (07:40 PM) by wldman Views / Replies:49,886 / 695
Last Reply:November 1st, 2016 (03:53 PM) Attachments:53

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike
     

Reply
 53  
 
Thread Tools Search this Thread

Koyaanisqatsi Hototo--wldman out of balance

Old November 19th, 2014, 12:21 PM   #621 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

Okay...

from the top a discussion of my view on risk.

Risk and stops are not the same. Risk is your view of the current condition and half of the mental equation that determines if this is a good place to open or close a trade. Risk must considered against something other than maximum amount of money you will lose on a trade or in a day....stops. So risk is the context within which you are checking down a decision metric. In my opinion setting risk as a dollar anount or a number of ticks is putting all the focus on losses and invariably that on which you continually focus will invite itself to be your reality. Expect to win on every trade or do not take the trade. Focus on what the best possible outcome might be in the given context. If that is grim you are outside of the appropriate risk level.

Risk is not a P/L issue, risk is the context of what conditions are evident and the evaluation of likely conditions that MAY soon come to pass.

In 20 years I have NEVER used a formula (meaning equation) for determining the place where I will realize losses. Is that process not completely opposed to the reason we are engaged in this endevor? IMO, again, that is a metric for portfolio management, not market speculation. This money that I trade is RISK capital. That means if it all goes away I am tangibly unchanged financially. Risk capital is not investment, and it is certainly not savings or even worse operating cash flow. If your trading account is not risk capital, meaning money that can be vaporized without any real or lasting impact on lifestyle...STOP trading or reduce your exposure accordingly. That said if you are trading a three lot micro in the M6E, realize that even if you are among the most legendary traders in the world, you will not make more than a "normal" 9-5 income for a very very long time.

Also, never ever get comfortable with the idea that you are going to deposit $100,000 and draw a living from trading profits. Can 100,000 become 10,000,000...sure but not while buying cars, paying mortgages and tuition. This activity as a career is more difficult than pushing a boulder up a waterfall.

Okay, with respect to risk, the big difference that none of the pop psychology or financial authors tell you. Professionals, the ones most books are written about, have a very different financial metric. Firm capital, professional risk, and the ability to utilize a near perfect hedge are items that the retail guy will NEVER have. If anyone wants more on those items, type it and I'll explain.

Reply With Quote
     
The following 4 users say Thank You to wldman for this post:
     

Old November 19th, 2014, 12:41 PM   #622 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

So if you believe...

that you have an edge that can be exploited for gain focus on taking good trades and being out of bad trades.

The demonstorable context (for me), in other words "risk". What could jack with me today.

1) What is going on in the world?
2) Who is speaking today or what economic news is expected?
3) What are the fundamentals...i.e., what is the known options expiration for the 10 am NY cut. who or are there known or rumored points of trading interest? What are the widely followed price points. Trend, momentum, volatility, volume. What are flows (order and money) in other markets?

Know these items, study these items and know how nuances might impact the tape.

For example:

I'd say 6E is in an uptrend:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


What are my expectations on longs and how are they different from expectations on a short? Well known that options expiry is huge (at least a yard) and that stops have been building at 1.2550. Here is the shorter term chart at that same time around 5:30 am cst.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
     
The following 4 users say Thank You to wldman for this post:
     

Old November 19th, 2014, 12:59 PM   #623 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

So with a brief context...


and a strongly confirming chart view, here is "risk" assessment.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


so wheel it forward a bar or two om the short term chart:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
     
The following 5 users say Thank You to wldman for this post:
     

Old November 19th, 2014, 01:04 PM   #624 (permalink)
Market Wizard
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,468 since Sep 2013
Thanks: 9,568 given, 10,545 received
Forum Reputation: Legendary

@wldman your a gentleman and a scholar.

Reply With Quote
     
The following user says Thank You to tturner86 for this post:
     

Old November 19th, 2014, 01:05 PM   #625 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

So...

Futures Edge on FIO

Are you a NinjaTrader user?

 
I do not know if we have that bear trapped in the right cave, but that is an initial demonstration fo how I view risk. Original inquirer is that a direction you care about? Does anyone want the "target assesment or the next trade or its risk diagramed?

Reply With Quote
     

Old January 18th, 2015, 10:48 PM   #627 (permalink)
Banned: trolling
Russia,Khabarovsk
 
Futures Experience: Beginner
Platform: NT
Favorite Futures: Gold
 
Cachevary's Avatar
 
Posts: 407 since Feb 2014
Thanks: 138 given, 77 received


Silvester17 View Post
the attached version of pas pro has the anaKVO indicator included.

in the indicator window, look for the following:

01.Features:

- 11.divergence indicator = custom (custom = anaKVO)
- 13.divergence parameter1 = fast ema period (default = 34)
- 14.divergence parameter2 = signal period (default = 13)
- 15.divergence parameter3 = slow ema period (default = 55)

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


also just in case. you can select to show only hidden, regular or both divergences.

05.divergence visualization:



- 01.show regular divergence
- 02.show hidden divergence

and as an added bonus:

regular Divergence:

- price is making higher highs while the indicator is not

- price is making lower lows while the indicator is not


hidden Divergence:

- indicator is making higher highs while price is not

- indicator is making lower lows while the price is not


@Silvester17,

how would i get another indicator into PAS,assuming it has 2-3-5,or even just 1 parameters?VWAP,for e.g.?

Thank you.

Reply With Quote
     

Old May 6th, 2015, 04:17 PM   #628 (permalink)
Elite Member
Fort McMurray, AB Canada
 
Futures Experience: Beginner
Platform: NT, MT4
Favorite Futures: CL, DAX, ZB
 
spideysteve's Avatar
 
Posts: 92 since Mar 2015
Thanks: 146 given, 90 received

Holy smokes

Lots of stuff in here, from trading psychology to indicators, entries, exits, stories about life, balancing

I just read all of this thread (started it last night) and the content in here is fantastic

Thanks @wldman for all the stuff here

Looks like you've gone pretty quiet lately ... any plans to continue your journal here?

Reply With Quote
     

Old May 7th, 2015, 10:08 AM   #629 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,055 since Aug 2011
Thanks: 966 given, 2,566 received
Forum Reputation: Legendary

Hey Man...

@spideysteve

Yes, I have been quiet. I felt that I wasn't thinking right about a few business related issues and decided to go introspective for solutions. Still enjoying that process. I'm logging in to analytics maybe once a week but "trading" has taken a backseat to a much longer time frame.

I'm around though and I'm happy that you enjoyed the thread. I'd chat about stuff or hear what is on your mind, but I think I'll be absent from "wizard" status for a while.

Be Well.

Reply With Quote
     
The following 4 users say Thank You to wldman for this post:
     

Old May 7th, 2015, 10:51 AM   #630 (permalink)
Elite Member
Dover, Fl
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: CL, NQ, YM, ES, GC
 
dnkhoward2's Avatar
 
Posts: 151 since Mar 2013
Thanks: 836 given, 156 received


Nice to hear from you again sir. I hope you are doing great

Reply With Quote
     

Reply



futures.io > Futures Trading, News, Charts and Platforms > Trading Journals > Koyaanisqatsi Hototo--wldman out of balance

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Trading Technologies: ADL hands-on

Dec 13

Normal webinar schedule resumes after the holidays

January

Ernie Chan: Risk Management

Elite only

Dedicated Trading Servers: Advantages/Disadvantages w/sam028

Elite only

An Afternoon with FIO member Massive I

Elite only

Leo Murphy: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Balance of Power Indicator !!!!! Sadboybh NinjaTrader Programming 12 May 17th, 2012 11:25 AM
Minimum account balance to keep it active? jonc Brokers and Data Feeds 5 January 21st, 2011 10:33 PM
strategy runnning balance binthere EasyLanguage Programming 1 September 5th, 2010 08:09 PM
50% Balance Point Rule perryg NinjaTrader Programming 74 May 13th, 2010 05:19 PM
Hedging to balance losing trade emini_Holy_Grail Traders Hideout 1 February 5th, 2010 11:28 AM


All times are GMT -4. The time now is 12:59 AM.

Copyright © 2016 by futures.io. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
 
no new posts
Page generated 2016-12-09 in 0.17 seconds with 20 queries on phoenix via your IP 54.197.90.95