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the easy edge for beginner traders
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Created: by creekboy Attachments:934

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the easy edge for beginner traders

  #1211 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

2nd trade a loser ,

In all the markets i like to trade ,they are marked on buttons ,each market has 2 buttons ,they are all put in a cup and i pick 1 out and thats the market that i trade at that time ,

2nd pick was the yen ,it was already in a downward move as marked by the red candles ,
the areas are marked where decisions need to be made

1- was and entry do to price action on the TST chart (grey )
above -it was not 1 of my system entries ,my stop was down @ 85

2- the market moved to within 2 ticks of breakeven and should have exited the trade

3- was the break of the second uptrend high at which time i exited for a loss -

ended down today $300.

and do to not waiting for a system signal ,i am done for the day,i sat in this loser for 1 hour and 30 min ,and if i would have waited till 10:35 i would have been out of the trade in 3 bars and moved on to the next market ,now to make 5k this week i have to increase my target amout to 1250 per day using 3 contracts ,pressure ,time will tell.

i am sure i could trade out of the 300 loss ,but being a rule was broken ,it kicks in another rule ,that if you break a rule ,i am done for the day

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Attached Thumbnails
the easy edge for beginner traders-yen429.png  

Last edited by creekboy; April 29th, 2013 at 01:18 PM.
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  #1212 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

i going to hang a calender up ,and use a sharpe ,like green when i feel great and red when i feel sluggish and see how it tracks out,and when i break a rule i will put a big black x on that day

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #1213 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received


please note in the TST max daily loss ,if i would have been playing the 15 allowable contracts ,i believe i would have hit the max loss for the day

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #1214 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

today i pulled the CL ,i also have another cup i pull out how i am going to play today ,and that pull was all day for the CL,i cant even remember when the last time i pulled the all day button.

now if you look at the chart on the lower right ,that is a profit and loss chart for the chart being traded -on that chart every day i look to see where my stop should be ,or how many ticks ,you will see there was a max loss of 440 dollars ,or 44 ticks,

now the 2 ladders are the same with the same trade ,i LEARNED today i had to stretch the ladder through both screens(as i have 1 stacked above the other ) to be able to locate all unused stops and targets quickly ,as with the smaller ladder you see you cant see the stop ,i even reduced my stop to 25 ticks as 44 would not fit on the stretched ladder ,it made my trading today after a rough morning as you can tell be the contracts easier to handle once i adjusted the length of the TST trading ladder ,

i am sure i broke some rules today while trying to solve this sight problem,but you will find if you have a stack screen ,it will help you greatly with the removal of excess trades on TST so you dont get gonged

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Attached Thumbnails
the easy edge for beginner traders-cl-chart.png  
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  #1215 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

if you see in the above post ,that all those contracts trying to figure out how to keep my trading ladder clean ,made on average 2.4 ticks per trade

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Attached Thumbnails
the easy edge for beginner traders-last.png  
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  #1216 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

as i get closer to the combin decision , i have found that stretching the ladder is the best idea for ME yet.
hear are todays results trying never to use more than 3 contracts ,which i broke 1 time today after the eu ambush @11:39 est ,my target of 1250 per days was not met today ,but thats ok

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Attached Thumbnails
the easy edge for beginner traders-may1.png  
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  #1217 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

stretching out the trading ladder is proving to be the best idea yet ,no constant scrolling looking for unknowns you see on the TST chart ,here are todays results ,complete now at 9:15 am ,sometimes all the stars just line up on the lucky side

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Attached Thumbnails
the easy edge for beginner traders-stars.png  
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  #1218 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

At the start of this week i set as goal of 5k or 1000 per day -as of 7:31 est i was within 250 dollars of that goal using a very specific plan, you will note the time/buy/sell data in the above left ,trade #4(yen)i used the WAG system of trading ,i have showed this before in this blog,

the chart and the T/B/S data sheet confirm the moves taken ,i tried to use different color lines to show entries and why its important to allow your stops to be taken when your on the wrong side of the move ,@TST most all charts i open have a 19 tick stop perset in or 237.50 in loss ,its not hard to see when trading a 15 lot on your most perfect guess entry that you will be killed the first time you step up to the plate ,

chart 1 shows all the setup ,with the blue hopium line i need to get to to recoup all my stupid money plus 100 dollars so in my mind i can feel like a winner ,but realistically it was a terrible trade concept that i see people on the forum use time and time again ,only the chart knows where it going ,not you ,play the chart and what you see


with that play nearly complete i will consider my week a success ,just for the items i have learned about the TST system ,

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Attached Thumbnails
the easy edge for beginner traders-friday5-3.png   the easy edge for beginner traders-spike-may-3.png  
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  #1219 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received

here is my TST performance chart for the last 17 days ,1st 10 day period i did not care what the wins or losses added up 2, my concern was to learn the platform and open my mind up to get comfortable with it -i believe i had drawn this account down to 128k area while just fast trading ,and trying to keep focused on where all outling stops and targets were sitting,so thanks to indextrader7 who showed me how to full time enable the flatten button and the TST education area ,that showed me 1 click functions -i have found my happy spot with the trading ladder and while finding it ,increased my account around 34K from the 128k low ,note I had some real aggressive trades on @ times ,but they did line up with my system ,

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Attached Thumbnails
the easy edge for beginner traders-charts.png  

Last edited by creekboy; May 3rd, 2013 at 11:44 AM.
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  #1220 (permalink)
Elite Member
phl pa. usa
 
Futures Experience: Advanced
Platform: tos
Favorite Futures: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received


i signed up for a 150k combine today for 20/60 days with a 16k profit line,i start monday

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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The following 4 users say Thank You to creekboy for this post:

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