The Beauty and Logic of the 6E - futures io
futures io futures trading



The Beauty and Logic of the 6E


Discussion in Trading Journals

Updated by Aragorn
      Top Posters
    1. looks_one Aragorn with 79 posts (146 thanks)
    2. looks_two cory with 4 posts (4 thanks)
    3. looks_3 josh with 3 posts (6 thanks)
    4. looks_4 Big Mike with 2 posts (0 thanks)
      Best Posters
    1. looks_one bobwest with 7.0 thanks per post
    2. looks_two Klausi with 2.5 thanks per post
    3. looks_3 josh with 2.0 thanks per post
    4. looks_4 Aragorn with 1.8 thanks per post
    1. trending_up 18,529 views
    2. thumb_up 190 thanks given
    3. group 34 followers
    1. forum 118 replies
    2. attach_file 57 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

The Beauty and Logic of the 6E

(login for full post details)
  #31 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
Aragorn's Avatar
 
Posts: 281 since Aug 2010
Thanks: 199 given, 323 received

@ Big Mike- is swearing permissible in this forum? Because right now I have a real hankerin' to let some sailor vocabulary fly (as it currently trades at 1.2292...).

Visit my futures io Trade Journal Reply With Quote

Can you help answer these questions
from other members on futures io?
Sending an ACH from BoA to GFF Brokers
Brokers
US OTCQB STOCK Brooker for UK BASED RESIDENT
Brokers
Seeking an MT4 Indicator/EA that scans all Currency Pairs to identify setup
Platforms and Indicators
Sierra Chart Alert Formula Question
Sierra Chart
Move indicator on Chart
NinjaTrader
 
 
(login for full post details)
  #32 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,093 since Jun 2009
Thanks: 31,718 given, 95,362 received


Aragorn View Post
@ Big Mike- is swearing permissible in this forum? Because right now I have a real hankerin' to let some sailor vocabulary fly (as it currently trades at 1.2292...).

There are no word filters, use your judgment.

Sent from my DROID RAZR using Tapatalk 2

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #33 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
Aragorn's Avatar
 
Posts: 281 since Aug 2010
Thanks: 199 given, 323 received



Big Mike View Post
There are no word filters, use your judgment.

Sent from my DROID RAZR using Tapatalk 2

Big Mike I was just kidding! I am just kicking myself...

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #34 (permalink)
Virginia, USA
 
Experience: Intermediate
 
Posts: 76 since Mar 2012
Thanks: 64 given, 63 received


Aragorn View Post
Big Mike I was just kidding! I am just kicking myself...

Don't fill yourself with regret. The past is the past, and there's not a damn thing you can do to change it. Just think of what you can do better next time.

"Within every conflict is a lesson" - either the Buddha or the Dalai Lama (I can't recall which one).

Good trading,
Melissa

Reply With Quote
The following user says Thank You to salisem for this post:
 
(login for full post details)
  #35 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
Aragorn's Avatar
 
Posts: 281 since Aug 2010
Thanks: 199 given, 323 received

I found a few months ago that I had a number of conflicting beliefs and attitudes. For example- I trade Support and Resistance levels that are based, I think, on volatility.

What they are actually based on I can't say all I know is that at the end of the day- they work. Same with my car. I can't say exactly how it works I just know that it does- so I use it.

In any event I had two conflicting beliefs. One belief was I wanted confirmation that a Support or Resistance level was going to hold. Then, when I got confirmation I said that it was too far away from my level and it could move against me so I wouldn't take the trade. Well, um... not to put too fine of a point on it, but how was I ever supposed to take a trade? Obviously it had to move off the Support or Resistance level for it to confirm. That's what I was wanting. But for some irrational reason, when the time came to pull the trigger, I came up with a conflicting belief that I wanted it closer. Well since it had already confirmed it wasn't going to get any closer to the level and I would pass the trade.

Another instance of conflicting beliefs I have in my Trading Journal that my daily goal is to make $500/day. But after I make, say $150, I wouldn't want to put it at risk. Well how am I going to make $500 if I am not willing to trade past making $150?

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Aragorn for this post:
 
(login for full post details)
  #36 (permalink)
detroit, mi
 
Experience: Beginner
Platform: TradeStation
Trading: SPY
 
Posts: 66 since Nov 2011
Thanks: 1,430 given, 71 received


Aragorn View Post
In any event I had two conflicting beliefs. One belief was I wanted confirmation that a Support or Resistance level was going to hold. Then, when I got confirmation I said that it was too far away from my level and it could move against me so I wouldn't take the trade. Well, um... not to put too fine of a point on it, but how was I ever supposed to take a trade? Obviously it had to move off the Support or Resistance level for it to confirm. That's what I was wanting. But for some irrational reason, when the time came to pull the trigger, I came up with a conflicting belief that I wanted it closer. Well since it had already confirmed it wasn't going to get any closer to the level and I would pass the trade.

Another instance of conflicting beliefs I have in my Trading Journal that my daily goal is to make $500/day. But after I make, say $150, I wouldn't want to put it at risk. Well how am I going to make $500 if I am not willing to trade past making $150?

How did you resolve S/R and confirmation the conflict? I have the same conflict basically. Still working on it. I am think I'm heading down the route of anticipating the bounce, having a smaller stop.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #37 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
Aragorn's Avatar
 
Posts: 281 since Aug 2010
Thanks: 199 given, 323 received


tihfa View Post
How did you resolve S/R and confirmation the conflict? I have the same conflict basically. Still working on it. I am think I'm heading down the route of anticipating the bounce, having a smaller stop.

Trade the confirmation signal. You must trust the signal and take the trade. Know where you are wrong. Personally, I wouldn't anticipate. Anticipating a bounce is the same as guessing. Guessing is gambling and we are not gamblers. We take signals and let the probabilities of our signals make us money. Just my advice.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Aragorn for this post:
 
(login for full post details)
  #38 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
Aragorn's Avatar
 
Posts: 281 since Aug 2010
Thanks: 199 given, 323 received

I thought I would take a second to explain my avatar. It's similar to yin and yang. There are always two forces working on us. We act on whichever force is the strongest within us. If the negative forces are strongest, fear, doubt, loved ones's peeing in our ears, prejudice or whatever, that is the force that we will act on. These negative forces are stronger than our positive forces of goals, dreams, hopes, aspirations, drives etc. These negative forces are seen on the left. When our goals, our commitments our drives, whatever it is that is motivating us, when those forces are stronger, then we overcome our fears and all the doubts and all the negatives that are holding us back from achieving what we set out to accomplish. When nothing, and I mean nothing is going to stand in our way between our drive and our goals, then we are on the right of the avatar.

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to Aragorn for this post:
 
(login for full post details)
  #39 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
Aragorn's Avatar
 
Posts: 281 since Aug 2010
Thanks: 199 given, 323 received

As a new trader I was always fascinated with complexity for some reason. I had to make it harder than it was. It seemed that the more complex something was the more I thought of myself as a trader. Unfortunately, that complexity also showed on my trading account. It's not just coincidence that the complexity of a method and the struggles of an account go hand in hand.

Note, for example, the power of a simple straight line- a trend-line. Look what it does! My trend-line tells me two things- First, potential entries and second, when the trend is over and either consolidating or reversing. Just a simple straight line.

A word of caution on the 6E- there is usually one break of the trend-line in which the market breaks the trend-line by a little and then resumes the trend. That stray peak or valley then becomes the more important trend-line to gauge the trend from.

Look how low the risk is on a simple little tool like a straight line. I mean, how hard is this? As hard as you want it to be! I've tried it hard (complex) and I've tried it simple and I like simple a whole lot more.

Attached Thumbnails
Click image for larger version

Name:	7_24_2012.jpg
Views:	149
Size:	139.0 KB
ID:	82511  
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Aragorn for this post:
 
(login for full post details)
  #40 (permalink)
Salt Lake City, UT
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES, 6E
 
Aragorn's Avatar
 
Posts: 281 since Aug 2010
Thanks: 199 given, 323 received



Aragorn View Post
One day, with Big Mike's permission, I'd like to post my Trading Plan on this thread. If you don't have one- GET ONE. I will admit, it's probably a bit more elaborate than most, but I'm proud of it.

Here it is.

Attached Files
Register to download File Type: doc Trading Plan 3.1 2.doc (56.0 KB, 142 views)
Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to Aragorn for this post:


futures io Trading Community Trading Journals > The Beauty and Logic of the 6E


July 26, 2019


Upcoming Webinars and Events
 

Order Flow Tools w/MotiveWave & Zytrade Brokerage

Oct 22
 

Technical Analysis Workshop w/NinjaTrader

Oct 27
 

Bookmap

Oct TBD
 

SharkIndicators

Oct TBD
 

Carley Garner

Oct TBD
 

GruttePier

Oct TBD
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@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