i think if we get above 85.50,we might see some move into Fridays range...Very tight today...Tl trades are there,but its like trench warfare..take little bits..not for me
10:45 Getting whopped -16 cents for the day. Gonna chill and wait for some signals.
10:56 Gotta know when to stand down..... This is one of those moments, at least for me
11:05 This is a pattern that was active last week on 2 separate days, both times, these longs ran for over $1 I have tried to short and now feel that I have missed the long from $84.76. I missed that signal, but I remember these kind of moves as being pretty strong up-trends. All Im saying is that I am done shorting for probably another 50 cents to $1 up.
Tally -21 for the day, pretty close to calling it a day. Rough to say the least! Had an 8 pt mishap on my DOM, I imagine guys have had worse though 21 is easy to clean, just gotta wait for a normal setup instead of pure chop.
@dave5578 it might help followers of your thread if you posted a little about your setup, etc (or at least what you're looking for from the market). That way it would be easier to identify with your posts...
Before you attempt to beat the odds, make sure you can survive the odds beating you.
I thought about it, I decided I need a place to ramble about my moves, and I will let the users decide after a week or so if we want to talk about my system.
The biggest waste of time on trading websites are dudes who are not profitable posting charts in hindsight and that shit. Basically I need to earn the respect of the users before I can even consider explaining why or how I did it.
I appreciate your thoughts, and I enjoy your posts as well
I see your point and agree. However, what I've always looked at is the explanation and understanding of the trades, more than the actual trade call itself. To me, almost anyone can call a trade and have a 50/50 chance of being right. But I've always given far more consideration to the explanation of the trade call and understanding of the market because one can usually detect whether someone has a grasp or is simply getting "lucky." I even wouldn't mind someone being wrong 7 out of 10 times if it seemed like there was good understanding (and maybe it was just a small losing streak). Plus, it's helpful to read others' take on market information...
But hey, it's your thread and I'm just an interested viewer...
Before you attempt to beat the odds, make sure you can survive the odds beating you.
If that is the criteria for assessing good analysis, then forums are all full of very profitable traders like a dime a dozen all killing it.. Although you can learn some things from hind sight analysis, that's not how the money is made..
You really don't know how good a trader you're following really is unless you either see their PNL, DOM or see some live real time calls over a span of time and everything comes out.. There's a good reason vendors typically don't provide real time analysis and there's also a good reason most traders on forums don't provide it.. but money is not made by hind sight analysis.. though many good concepts can be learned from it...
Ideally, you get both, which is what MF is providing in his thread.. and that's why I think its one of, if not the best threat on any public forum and receiving the kind of traffic that it does.. is there any other threads on BM that is receiving more traffic? If not, why not? Why is it that you're sitting in MF's thread and not another thread? Aside from the analytics, its real time...
You learn "concepts" thru hind sight analysis, but you learn "trading" only thru real time.. Its definitely not the same thing and not even close..
I was totally shitting all over MF's thread, it was pretty stupid of me.
So you guys know what you will get here, just read my response to gold. Hopefully, once proven worthy, this blog can be win/win for myself and alot of other readers as well.
That's exactly what I'm trying to say. It's best to see both real time. I'm just implying that it's better to see a trade call WITH an explanation rather than a call with something (implyed or otherwise) like "my gut told me to go long."
Hope that I'm making sense...
Before you attempt to beat the odds, make sure you can survive the odds beating you.
I will also add, I cannot stand journals where dudes are all frontin' by saying.......
1. I need to follow my rules blah blah
2. I did these 10 things wrong today. Dude pick 2 and fix them
3. "my kids, my job". Shit man, your gonna lose soooo much money if you use that one again.
You won't get that here. That makes a BORING AS FUCK NEVER ENDING MENTAL WEAKNESS FOR PROFITS blog.
No hate intentionally directed to those journal guys.
It's just, trading to me is a slap you in the face your fucking up kinda convo, not a, "oh joe, you will do better if you just follow your rules, its ok!" No..... Joe will lose his fucking house as his P/L and trading resembles a journey into gambling
There is no other time in my life where I have had to be this hard on myself, my emotions and physically resisting an urge, than in trading.
Rant Complete.
The following 2 users say Thank You to dave5578 for this post:
Exactly. That's why I'm pointing it out. I'd love to see more of it as I think it's truly the most helpful, not only to the "followers," but also to the poster as it should serve to help improve across the board.
Sorry Dave. Don't mean to sidetrack thread. Keep it up. Will be following...
Before you attempt to beat the odds, make sure you can survive the odds beating you.
I trade a 30 second chart, and only a 30 second chart, and that wont change.
I use Bollingers and Keltners, nothing else, and that wont change.
I don't make gay and unfixable excuses.
My only challenge is finding low risk entries with my system showing a strong change in sentiment or continuation of trend. Profit targets are secondary to me. And it ain't that hard when you don't change your tools or charts to find some goodies.
The following 2 users say Thank You to dave5578 for this post:
This journal will not be like MF's. I want a whole bunch of ideas and topics in this journal. Say whatever the fuck you want and that you feel can in anyway benefit another trader.
Im just saying this cause Gold apologized for his lil' 2 step he just had with jedi.
Eventually, and hopefully soon, I will give detailed charts and calls realtime. Then it will be like MF's, but with a more lenient policy towards inter-trader battles and discussions.
I am doing this because it is what I want and what MF wants for his journal. Easy enough right?
No need to apologize at all for a difference in perspective.. its all good and its also your journal and what matters is you benefit from it and do it any way you feel suits you, so its likely us that needs to apologize to you for spamming your journal..
My main point is this: Although you can learn a lot of good and important concepts from hind sight analysis, that's all its good for.. Trading real time is a whole different ball game and that's where the money is made AND LOST so that's where the majority of the learning needs to come from..
11:05 This is a pattern that was active last week on 2 separate days, both times, these longs ran for over $1 I have tried to short and now feel that I have missed the long from $84.76. I missed that signal, but I remember these kind of moves as being pretty strong up-trends. All Im saying is that I am done shorting for probably another 50 cents to $1 up.
Obviously missed the pullback. Look at it rip..... All good.
Oh and sorry for this hindsight trolling, as this post is borderline.
The following user says Thank You to dave5578 for this post:
I see dudes like GT and longboat on MF's just telling him he's the shit all day. At least Gold and Jedi drop charts and shit. Point is this....... Pre-market numbers and sentiment doesn't mean shit to my trading style......... But more importantly, please, for the love of god, stop telling traders they are "real good" or "I want to be like you". That is some bromance type shit man, not trading work. I truly believe MF would want guys to stop talking about how awesome HE is and just do whatever it takes to post the green P/L on a regular basis.
So, in summary, if anyone says "great trade dave!" Your banned. If you say "what a dumb fucking trade dave" you get promoted.
I see it slightly differently.. I don't know if there's any way to tell from that but the majority of traders on forums are not profitable period thanks or no thanks.. that's just the stats..
I can't believe you guys are supporting such ass licking from GT........... Minus 1 point for all of you. If I could hack into your brokerage account and take 1 cent from your cl trades, I would........
lol... pretty funny stuff.. I was thanking MF for a post that made sense.. I'm not keeping track of the thanks ratios..
He put a lot of work into that journal and its filled with gems.. Its only right to show some appreciation.. but I get your point and its a funny one.. I want to hit the thanks button multiple times already...ha
Good luck with the thread, I'll try to participate where I can..
