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The Way of the AttitudeTrader


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The Way of the AttitudeTrader

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  #201 (permalink)
Dallas, TX, USA
 
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A review of the week

On Monday I was still working on developing my approach so I took quite a few trades, but by Tuesday I had gotten a little clearer about how I wanted to handle things and I applied that for the rest of the week.

I find myself leaning more toward focusing on having profitable days by taking a few trades, as opposed to trading all day. In my mind there are arguments for both ways, but I'm doing what I feel most comfortable with right now.

More importantly, improving my attitude - what I think about and how I'm thinking about it - is continuing to be my main focus.

A look at the stats

I had a higher drawdown than usual due to my trading on Monday, but still finished the week with a good (sim) profit.




Interestingly (to me anyway) my expectancy is in an uptrend.


"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #202 (permalink)
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I created my own TST Combine stats grid awhile back when I was trying to trade M6E/6E. When I switched back to ES last month, I thought my current "style" of trading wouldn't come close to fitting into the TST required parameters so I didn't even look into it.

But lately I've been working diligently on my attitude and the way I'm approaching my trading business, and TST can be another valuable option for traders like me. So I decided to work on my trade log spreadsheet and see how my current trading is comparing to the TST requirements.

It has taken me most of the morning to get a stat grid built and clean up errors, but what I discovered surprised me.

I decided to use stats beginning with my return to ES (05/22/2013) and I've initially chosen the 30K/10Day combine parameters to work with.

At this point I appear to be meeting all of the requirements except the profit target. And with 10 trading days left, it would also appear that I could actually reach that target.

This is very good news, because it opens up another possible option for me moving forward.

I'll continue to track the results of my trading against these parameters, and if I can't meet the 30/10 profit target in time, I'll change to the 30/20 combine parameters and see if I can meet those.

If I don't discover any ridiculous errors in my calculations, and if I can actually meet the parameters of the combine(s), then I will seriously consider putting a plan together to do a real combine at some point.

I'll have to see how this goes.


"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #203 (permalink)
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Hi,
I am watching your journal quite closely, wanted to suggest the same last week. your trading results are consistent and most probably you should make it in next 10 days trading.

All the best , we have another trader in making ..

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  #204 (permalink)
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Hi AT,

Do you think you could share a version of that sheet ?

Would be interesting !

p

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  #205 (permalink)
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tinkug112 View Post
Hi,
I am watching your journal quite closely, wanted to suggest the same last week. your trading results are consistent and most probably you should make it in next 10 days trading.

All the best , we have another trader in making ..

Thanks @tinkug112 !


podski View Post
Hi AT,

Do you think you could share a version of that sheet ?

Would be interesting !

p

@podski , my spreadsheet is the culmination of years and years of adding/subtracting/modifying things and is nowhere near "user-friendly." I'm always tweaking and changing things, and some of the things I've done are not self explanatory and would probably be more confusing than helpful.

So I won't give copies of it, but I'm more than happy to answer any questions you may have about how I went about getting any of the stats I'm showing here. Just let me know.

Thanks guys,

-AT

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #206 (permalink)
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Good to see how well you're doing according to these (TST) criteria. Looks like you're almost there.

BTW, the TST commission plus exchange fees is 2.50 a side, 5.00/rt.

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  #207 (permalink)
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Mission Plan: Sierra.2013.06.Bravo
Theater of Operation: Echo Sierra Mike Three

Trade #298
08:44 Long. Buying into the downtrend. Also too early.
08:45 Stopped out. -5 ticks.

Trade #299
08:46 Long. Buying into the downtrend again. Timing is better.
08:47 Trailed stop up.
08:48 Stopped out to the tick before price moved back up to hit target. -3 ticks.

Trade #300
08:51 Short. Pullback in the downtrend.
08:54 Target reached. S5 filled me with +7 ticks, but I'm recording it as a regular profit. +6 ticks.

Trade #301
09:08 Long. Buying into the downtrend again.
09:12 Stopped out to the tick before price moved back up to target level. -5 ticks.

Trade #302
09:16 Long. Buying after retest of Friday's close and after being stopped out to the tick on the previous trade.
09:21 Target reached. +6 ticks. Only down 1 tick now after 5 trades so I'm calling it a day.

AAR
  • Objective: Follow my mission plan and do the best I can with what I've learned so far.
    -
  • Outcome: 5 trades, 2 winners, small loss for the day.
    -
  • Observations: I fought the short term trend on all but one of my trades today.



"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #208 (permalink)
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bobwest View Post
Good to see how well you're doing according to these (TST) criteria. Looks like you're almost there.

BTW, the TST commission plus exchange fees is 2.50 a side, 5.00/rt.

Thanks. And dammit!

I wasn't completely clear based on the explanation on the site, so I thought I was being smart by looking at some of the TST stats posts around here, e.g.:


I was dividing the Fees & Comm by the Total Contracts. My mistake was assuming that "Total Contracts" meant round turns.

That puts me back a bit.

Thanks for pointing that out to me @bobwest !

I'll fix that stat page and post it later.

-AT

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #209 (permalink)
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@bobwest pointed out an error I was making with regard to the TST commissions, so I've corrected my simulated TST combine stats grid.

Comparing the numbers of this one with the one I posted over the weekend (using $2.50/rt) shows the significant difference commissions can make.


"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #210 (permalink)
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Mission Plan: Sierra.2013.06.Bravo
Theater of Operation: Echo Sierra Mike Three

Sitrep
I'm really busy with my other work again, so I'm a little late with this post. I'm also only going to be able to trade a couple of hours of tomorrow's session.

Trade #303
08:31 Long. Buying into the downtrend.
08:31 Stopped out with slippage. -6 ticks.

Trade #304
08:32 Long. Buying into the downtrend.
08:34 Stopped out. -5 ticks.

Trade #305
08:39 Long. Buying into the downtrend.
08:41 Target reached. +6 ticks.

Trade #306
08:42 Short. Selling into the uptrend.
08:42 Stopped out. -5 ticks.

Trade #307
08:45 Long. Bought on the pullback in the uptrend.
08:46 Target reached. +6 ticks.

AAR
  • Objective: Follow my mission plan and do the best I can with what I've learned so far.
    -
  • Outcome: 5 trades, 2 wins, 3 losses.
    -
  • Observations: I'm fading too much and what I'm doing is showing me that I don't have a solid "method" yet. The only thing that is really saving me through all of this is a fanatic adherence to my risk management plan. I have some ideas about how I'm going to proceed though.



"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #211 (permalink)
wa/ usa
 
Experience: Intermediate
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AttitudeTrader View Post
.......................




If you plan on doing the TST combine at sometime it's been said time and again in almost every TST Journal, make sure you trade their T4 platform if you havent traded on CTS T4 before. Trade it for at least 7-10 days. I cant stress this enough. I thought I had the ins and outs of it but I got a rude awakening. Trading on OEC you get spoiled with simplicity.

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  #212 (permalink)
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garyboy275 View Post
If you plan on doing the TST combine at sometime it's been said time and again in almost every TST Journal, make sure you trade their T4 platform if you havent traded on CTS T4 before. Trade it for at least 7-10 days. I cant stress this enough. I thought I had the ins and outs of it but I got a rude awakening. Trading on OEC you get spoiled with simplicity.

Thanks @garyboy275 . In my studies of your thread and others, I've seen that mentioned a lot. I'll definitely do that.

-AT

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #213 (permalink)
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Mission Plan: Sierra.2013.06.Charlie
Theater of Operation: Echo Sierra Mike Three

Sitrep
Still really busy with my other work, so this post will be brief with no play by play or review. I worked with the new ideas I mentioned yesterday and got clearer about a few things.

Trades #308 - 318


"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #214 (permalink)
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A review of the week

I've been very busy with my other job (which, as always, is a good thing), so I only got in three days of trading.

I also had a bit of a light go on for me yesterday, so I'll be pursuing that in the coming days.

A look at the stats


I'm still passing most of the parameters in my simulated combine:


"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #215 (permalink)
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Mission Plan: Sierra.2013.06.Delta
Theater of Operation: Echo Sierra Mike Three

Trades #319-321

AAR
  • Objective: Follow my mission plan and do the best I can with what I've learned so far.
    -
  • Outcome: 3 trades, 2 winners (one with 1 tick of negative slippage), +6 ticks for the day.
    -
  • Observations: Lately, in an attempt to modify my trading into a format resembling the way I think, from a "logical" perspective, I should be trading, I've struggled and flip-flopped from one "idea" to another with frustrating results.
    -
    So yesterday afternoon I made the decision to, again, go back to my basic method in order to 1) have a structure to build from, and 2) see if it/I can/will still perform profitably. I'm putting my logical ideas of how I should be approaching my trading to the side for the time being and I'll see how things go.
    -
    I'm a little rusty with my basic method so my first trade wasn't good, but I followed my basic setup plan and finished (before my FOMC day cut-off time of 10:30CT) with a profit.
    -
    Following my plan today was so much less stressful, and better, than what I was attempting to do before.



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Mission Plan: Sierra.2013.06.Delta

Theater of Operation: Echo Sierra Uniform Three

Trade #322

AAR
  • Objective: Follow my mission plan and do the best I can with what I've learned so far.
    -
  • Outcome: 1 trade, 1 winner, +6 ticks for the day.
    -
  • Observations: Followed plan. One and done is good enough for now. Have other work to do.



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  #217 (permalink)
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Mission Plan: Sierra.2013.06.Delta
Theater of Operation: Echo Sierra Uniform Three

Trade #323

AAR
  • Objective: Follow my mission plan and do the best I can with what I've learned so far.
    -
  • Outcome: 1 trade, 1 winner, +5 ticks (1 tick negative slippage on exit) for the day.
    -
  • Observations: Followed plan again. Another one and done is good enough for now. Again, I have a lot of other work to do.


"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #218 (permalink)
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I'm very busy with work this weekend so this will be brief.

Although my weekly stats make it look like I'm doing (relatively) fine, there is an underlying problem that the numbers don't reflect.

The problem is that I still haven't developed a solid framework for my trading.

There's a reason I've been taking only a trade or two each day and calling it done.

The reason is that, by continuing to "practice" after I've called it done for the day, I've found that I seem to work myself into an unrecoverable hole every time.

This puts me in a position of not being confident about what I'm doing.

I still have some more ideas I'm working on though.




"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #219 (permalink)
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The past several months have been mostly a theme of struggle for me with my trading. I've kept at it, but my efforts have felt mostly like grasping at straws.

At the beginning of this year I was looking at price action in a certain way, and while I wasn't clear about what I was doing, the basics of it were the way I knew I wanted to be trading.

But I was continually frustrated by the lack of an appropriate way to approach it. I don't mind working hard, and I love to learn, but I wasn't sure what to work at, and I wasn't sure what to work on learning.

As you probably already know, I'm a firm believer that attitude is really the determining factor in success or the lack of it. I've been studying positive thinking and its myriad variations since I was in my late teens, so I understand a lot about it. But my lack of success in applying it in my life was an area of extreme frustration for me. Although I did a lot of studying and I always did the exercises - meditations, writing, visualization, etc. - I still couldn't seem to achieve any noticeable changes in my life. With everything I knew about it, I should have been wildly successful with it.

Over (a lot of) time I have come to realize that my "problem" wasn't in understanding the concepts or doing the "work." What I came to realize is that the "problem" was that I wasn't living it. In other words, even though I was doing the exercises, meditations, etc., they made up a very small part of my day. And then I would spend the rest of my waking hours worrying, being frustrated, being aggravated, being unhappy with my circumstances, etc.

It became clearer and clearer to me that the thoughts I spent the most time thinking were very similar to the circumstances that I was actually experiencing.

Then last October I decided to read a book that I already knew about but had decided months earlier was one I didn't need to read. As soon as I finished the first "lesson," I knew it was the key that would help me begin to live what I had already learned.

Within 3 weeks of starting it, I was having surprising things happening to me. I did it for a few more months and continued to have improvements in my life, but apparently they weren't dramatic enough for me to keep it up, so I slacked off from it quite a bit.

Things stagnated for me, my business slowed down to almost nothing, and I was in a very worrisome place. This was a little after the beginning of the year and I was really trying hard to get a handle on my trading. I was having some success with my "training," but other than teaching myself to be consistent, I wasn't really making any other headway.

Fast forward to the beginning of May. I made a post about my commitment to change my habits of thinking for the whole month and I did it. In another post, at the beginning of June, I talked about how my business had increased exponentially during May, without any extra effort on my part.

I also said that I intended to do basically the same thing for the month of June, and again, I have. This month my business has continued the pace it started in May, which is a nice financial relief.

Not only has my business situation improved over the course of both months, but my life in general has improved.

But something far more profound has just happened within this last week of June. I inadvertently (which is the way things seem to happen to me when I'm maintaining this attitude) discovered some information about a way of looking at price that brought almost immediate clarity to what I had been trying to do with my trading. It was like a light on a dimmer switch - as soon as I began to learn about it, the light came on but it was dim. Then as I read and studied, the light became brighter and brighter, and very quickly I had a clarity about how to proceed with my trading that I haven't had before.

It will take time, study and work, but now I know what to spend my time on. I know what to study. I know what to work on.

And I firmly believe that this is a result of my deliberate work in changing my habits of thought - in changing my attitude.

I don't want to start a discussion about all of the books, methods and concepts out there, because different things work for different people. But for anyone interested, the book I'm referring to that has been "the one" for me is The Magic by Rhonda Byrne.




I've recommended it to family members and others who have all reported significant positive results in their lives. I also spend a lot of time listening to the audiobook The Power (by Rhonda Byrne), and skimming through my collection of books by Abraham-Hicks, but this book is the first thing I've tried that has made a nearly immediate, and definitely noticeable, difference in my life when I use it.

I'm beginning to think that trading is really not all that different from any other endeavor. I believe that success in anything (work, finances, relationships, health) boils down to your habitual attitudes about it...and about life in general.

And this attitude of gratitude that I've been cultivating lately is shaping up to be a game-changer for me.

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #220 (permalink)
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AttitudeTrader View Post
I'm beginning to think that trading is really not all that different from any other endeavor. I believe that success in anything (work, finances, relationships, health) boils down to your habitual attitudes about it...and about life in general.

And this attitude of gratitude that I've been cultivating lately is shaping up to be a game-changer for me.

Bingo brother. An attitude of gratitude, a humbleness of spirit and putting other people in your life (both close and casual) first. It's not about you, is it? In trading or anything else.

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AttitudeTrader View Post
The past several months have been mostly a theme of struggle for me with my trading. I've kept at it, but my efforts have felt mostly like grasping at straws.

At the beginning of this year I was looking at price action in a certain way, and while I wasn't clear about what I was doing, the basics of it were the way I knew I wanted to be trading.

But I was continually frustrated by the lack of an appropriate way to approach it. I don't mind working hard, and I love to learn, but I wasn't sure what to work at, and I wasn't sure what to work on learning.

As you probably already know, I'm a firm believer that attitude is really the determining factor in success or the lack of it. I've been studying positive thinking and its myriad variations since I was in my late teens, so I understand a lot about it. But my lack of success in applying it in my life was an area of extreme frustration for me. Although I did a lot of studying and I always did the exercises - meditations, writing, visualization, etc. - I still couldn't seem to achieve any noticeable changes in my life. With everything I knew about it, I should have been wildly successful with it.

Over (a lot of) time I have come to realize that my "problem" wasn't in understanding the concepts or doing the "work." What I came to realize is that the "problem" was that I wasn't living it. In other words, even though I was doing the exercises, meditations, etc., they made up a very small part of my day. And then I would spend the rest of my waking hours worrying, being frustrated, being aggravated, being unhappy with my circumstances, etc.

It became clearer and clearer to me that the thoughts I spent the most time thinking were very similar to the circumstances that I was actually experiencing.

Then last October I decided to read a book that I already knew about but had decided months earlier was one I didn't need to read. As soon as I finished the first "lesson," I knew it was the key that would help me begin to live what I had already learned.

Within 3 weeks of starting it, I was having surprising things happening to me. I did it for a few more months and continued to have improvements in my life, but apparently they weren't dramatic enough for me to keep it up, so I slacked off from it quite a bit.

Things stagnated for me, my business slowed down to almost nothing, and I was in a very worrisome place. This was a little after the beginning of the year and I was really trying hard to get a handle on my trading. I was having some success with my "training," but other than teaching myself to be consistent, I wasn't really making any other headway.

Fast forward to the beginning of May. I made a post about my commitment to change my habits of thinking for the whole month and I did it. In another post, at the beginning of June, I talked about how my business had increased exponentially during May, without any extra effort on my part.

I also said that I intended to do basically the same thing for the month of June, and again, I have. This month my business has continued the pace it started in May, which is a nice financial relief.

Not only has my business situation improved over the course of both months, but my life in general has improved.

But something far more profound has just happened within this last week of June. I inadvertently (which is the way things seem to happen to me when I'm maintaining this attitude) discovered some information about a way of looking at price that brought almost immediate clarity to what I had been trying to do with my trading. It was like a light on a dimmer switch - as soon as I began to learn about it, the light came on but it was dim. Then as I read and studied, the light became brighter and brighter, and very quickly I had a clarity about how to proceed with my trading that I haven't had before.

It will take time, study and work, but now I know what to spend my time on. I know what to study. I know what to work on.

And I firmly believe that this is a result of my deliberate work in changing my habits of thought - in changing my attitude.

I don't want to start a discussion about all of the books, methods and concepts out there, because different things work for different people. But for anyone interested, the book I'm referring to that has been "the one" for me is The Magic by Rhonda Byrne.




I've recommended it to family members and others who have all reported significant positive results in their lives. I also spend a lot of time listening to the audiobook The Power (by Rhonda Byrne), and skimming through my collection of books by Abraham-Hicks, but this book is the first thing I've tried that has made a nearly immediate, and definitely noticeable, difference in my life when I use it.

I'm beginning to think that trading is really not all that different from any other endeavor. I believe that success in anything (work, finances, relationships, health) boils down to your habitual attitudes about it...and about life in general.

And this attitude of gratitude that I've been cultivating lately is shaping up to be a game-changer for me.


I like your attitude, I too was at a point of plateauing and did not know how to get over the hump so I decided to enrol in TSTU's CTD. My knowledge at that time got me to a positive average over 4, 10 day trading cycle but not enough to get funded, roll overs, sure, not a problem. I really did not want to spend the next X months, to years trying to figure out how to get over the hump. (on my own)

Best money I've ever spent on my trading education cause I thought I understood price action, oh how I was wrong. The course touches on Price Action of week 2 of 20. When you understand the concepts and apply them to real time trading, it really snow balls as each weeks lectures do build onto the next, so not understanding one concept will hinder your understanding for more advanced stuff.

Until I learned how to draw a consistent trend line based on some simple rules, my previous trend lines and support and resistance levels were all "best fit" lines. My results from those best fit lines were inconsistent so I could not build enough confidence in my own ability of drawing trend lines. CTD talks about trend lines for week 6 as this is when it starts to get interesting, but week 1-5 are the foundations to a consistent trader as is stated in their intro video. I've gone back and re-watched any lecture I did not truly understand when I encountered that concept in real time trading and did not know how to apply it or what to look for to apply it.

It really is something to look into and if you say what is true, about the hard work, Bob and Mike will take note of that.

And I'm just a regular TST recruit, I'm not benefiting financially by promoting CTD.

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Last Updated on June 30, 2013


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