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Breakout Journal - a journey to full time trading


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Breakout Journal - a journey to full time trading

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  #631 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Here is the daily... Looking for direction. Right now price is staying in the 5 day opening range. Looking for a swing trade out of the box.


nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #632 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Silver Dragon's Avatar
 
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Thinking out loud...

I have my trading path laid out. One decision left; SIM or Real money... There are arguments for both... for me its coming down this: when do I want to inject emotions into the equation. My initial thought is to get used to the trading system and then work it in slowly. My fear with this is that I will never work it in........

Setting a public deadline of this weekend to make a decision.

Robert

nosce te ipsum

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  #633 (permalink)
In the heat
 
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Silver Dragon View Post
Thinking out loud...

I have my trading path laid out. One decision left; SIM or Real money... There are arguments for both... for me its coming down this: when do I want to inject emotions into the equation. My initial thought is to get used to the trading system and then work it in slowly. My fear with this is that I will never work it in........

Setting a public deadline of this weekend to make a decision.

Robert


My two cents....real money, small size....small enough you simply can't care which way it goes...ramp it up from there....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #634 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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The plan right now is to make observations, note them and trade what I already know how to do. +17 ticks tonight

What I missed from my initial observation; price was in a downward trend from last night.

Edit: Trade was SIM


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  #635 (permalink)
Legendary Data Wizard!!!
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Didnt get to trade last night. Notes are on the chart on what I saw. My lower projected target of 8710 was hit. I was a little undecided about which direction it would go. However my bias was lower based on price action from the past week. This would have been a good overnight trade.


nosce te ipsum

You make your own opportunities in life.
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  #636 (permalink)
Legendary Data Wizard!!!
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Tonight's trade was positive. My original target was higher but didnt want to hold overnight. I will see tomorrow if the upper target is hit.





Robert

nosce te ipsum

You make your own opportunities in life.
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Legendary Data Wizard!!!
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Edit: for some reason the charts were not showing up. Fixed it


Silver Dragon View Post
Tonight's trade was positive. My original target was higher but didnt want to hold overnight. I will see tomorrow if the upper target is hit.






Robert


See notes on chart


nosce te ipsum

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Legendary Data Wizard!!!
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Silver Dragon View Post
Thinking out loud...

I have my trading path laid out. One decision left; SIM or Real money... There are arguments for both... for me its coming down this: when do I want to inject emotions into the equation. My initial thought is to get used to the trading system and then work it in slowly. My fear with this is that I will never work it in........

Setting a public deadline of this weekend to make a decision.

Robert

I decided I am going with real money. I will start the week of October 27th.

As to "why" I decided to go this route; Because I fear it... I am at a point in my in my trading career / life where if I do this I probably never will. Knowing this, I accept that I have fear and all the risks which go along with it.

Robert

nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #639 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
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Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
Thanks: 5,403 given, 4,498 received

I have put together core beliefs for my trading. I will build off this going forward

Core beliefs
  1. Profit is nothing more than the result of an action.
  2. Knowing what type of trader I am and accepting it, is one of the keys to success.
  3. Understanding I am unique in how I trade and that I cannot follow or emulate other traders, guru's or market experts will keep me focused and on the road to success.
  4. I am responsible for the outcome of my trades and ultimately my success or failure. I will not blame the markets, guru's, my broker or any other trader or entity for my successes or failures.
  5. Its not the chart, indicators or what I trade which will determine my success; its me.

What I have learned is that 99% of trading is in your head. Or at least mine anyways. I believe I have the skills to trade, but now I need to develop the physiological aspect to execute the my process consistently and effectively.

Robert

nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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In the heat
 
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Silver Dragon View Post
Edit: for some reason the charts were not showing up. Fixed it




See notes on chart


I don't know the exact formula for determining where to enter but two things jump out at me from this chart.

1. The entry seems to be random....its not at the OR and its not at the confirmation bar high....it in the middle....

2. It seems logical to wait until the trend line was broken, wait for the retest of the levels....and then go long....

Again, I have no idea what the entry rules are so my observations might be in direct conflict with the rules.....but those two things did leap off the chart at me....

Otherwise, I love the simplicity of the charts, the idea of only taking one trade.....love it....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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February 2, 2015


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