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Five A Day

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  #301 (permalink)
 ratfink 
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The plan is of course already morphing, thereby making me officially incorrigible. However, if my weakness is random change, my strength is ruthless change. From 12 charts I now have only 6 and I *love* them, no redundancy, maximum clarity and information, highly visible. Most of yesterday was medical appointments and trade system re-engineering.

It felt good ditching the US market feeds from my current active workspace, they will no longer come in at all on eSignal from the end of this month cycle date. I will miss drawing the forward gears fibs on the beloved ES, but it only ever served as a distraction that muddied my focus - my problem, not it's.

It was wrong to chuck the Sprints - the betting shop is fine if you have good odds and a solid understanding of the underlying ground - they are sharp tools if used properly, of course dangerous like C/C++ if used stupidly. SO, no 'baby out with the bathwater' just yet - I need to address the underlying causes of my trend following failures and not the symptoms, and stop looking for excuses outside of myself.

My win rate with them is already fine - BUT I WILL WAIT FOR PULLBACKS ON DIVERGENCE(S) AT KEY AREAS before entering.

In the main account I had a couple of fill problems caused by trying to enter in a high volatility spike, thereby breaking one of my own rules anyway - ENTER IN LOW VOLATILITY, EXIT IN HIGH. However, it reminded me that having two accounts is an advantage, not a problem - so let's not use that as an excuse either.

Yesterday's trading was only a couple of hours and mixed, main account I had a few nibbles and one good short after the typical Tuesday corrective clamber up to the previous day's high, finished off -16T in the end. Sprints I took just 5 for 4W, 1L for +44T.

Evolution. Always. I have turned to the dark side - added a profile and a simple VWAP. Nothing is sacred anymore.

Travel Well
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  #302 (permalink)
 ratfink 
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Kept a calm head and finished the morning session with 7 Sprints, 5W, 2L for +40T. Nice short too @GFIs1, it must be Wednesday!

edit: Just one more trade in the pm session for +16T, so a decent day.

Travel Well
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  #303 (permalink)
 ratfink 
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Got jolted out of a heavy dream sleep, spent the rest of the morning session with a headache - that should have been a clue to maybe just go for a walk instead of trading. I ended with 11 Sprint trades going down 4W, 7L for -76T, a slapdash ass-kicking that has to be the finger-burning that keeps me off the slot machines for the rest of the year.

It's not the magnitude of a single-day loss that matters, it's the manner, and I know that any attempt to scale up position sizes on these crack-fueled instruments is going to bury me one day. If any of you that read this journal ever see me mention the word 'Sprint' again please send me a private message and tell me not to be a complete prat in whatever language you fancy. I have deleted all the related Ninja and trade platform layouts and want the shackles to work, permanently.

(Shouldn't be trading OR-bound Dax on Thursday mornings either, yeah I know.)

I will keep trying to make it a proper job.

Travel Well
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  #304 (permalink)
 ratfink 
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Denial - that my trading behaviour has been anything other than gambling - it has, on too many occasions. Without consistency in the workshop the casino will burn down.

Rationalisations - post #301 contained several, I need to let things go and move ahead properly. The consequences were immediately felt the following day.

Oscillations - in a period of psychological turmoil and change this is natural, the new road is not going to be illuminated by a single blinding light, more a series of shadowy glimpses and intuitions that eventually lead to one or more right turns. Lots of hard graft and dead ends along the way.

Permission to trade - this is the single most important concept I have lost sight of in recent weeks. I ALWAYS have to know that it is sensible to trade and, if so, which way to be looking before I even consider a setup or look for an entry. Market conditions and trend definition first, setups and entries second - schoolboy errors otherwise.

Then do it - without hesitation, too many times I watch the best setups pass by and then take a lousy one instead, so let's stop doing that, continuing to focus on the psychology by means of sticking to a consistent methodology.


With those key points worked out I have also analysed my system and trading from last week and simplified it yet again. At no point did the profiles or VWAP provide any extra information that I couldn't already see, in fact to a large degree they just obscured things. The dark side has now been exorcised and I am a trader of market conditions, patterns and measured moves once more.

No excuses to London from here:





So, still just need to sort out the wet-fat link between eyes and fingers then.

Travel Well
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  #305 (permalink)
 Adamus 
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ratfink View Post
No excuses to London from here:





So, still just need to sort out the wet-fat link between eyes and fingers then.

Peachy. So who's your provider and what sort of connection is that? Cable?

This is the bog standard cheapest business broadband:


You can discover what your enemy fears most by observing the means he uses to frighten you.
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  #306 (permalink)
 ratfink 
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Adamus View Post
Peachy. So who's your provider and what sort of connection is that? Cable?

Standard BT Infinity Fibre, now 15 squids a month plus telephone line rental, bargain. Cheaper 6 month intro period deals often available on offer too.

Prices and availability checker link:

https://www.bt.com/products/broadband/packages?Infinity=yes

Just checked it and our area has been upgraded again, says I can now get 76Mb download for £26/mo, great but overkill for what I currently do with it, I'm just happy that it's been rock solid for a year.

Travel Well
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  #307 (permalink)
 ratfink 
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Today's best decision - don't trade, as I had no sleep at all last night. Head full of ideas.

Today's worst decision - don't trade, as I slept through @GFIs1's gem of a trade. Bugger. Fib move hit massive target to tick as well. Just a day, thousands more, if I'm fortunate. I think fortune is different to luck, but that must be a long story somewhere.

Yesterday - took +52T out of chop. Happy boy. Saw some beautiful and ugly things, couldn't sleep as a result.

Progress - I have completed the removal of US markets from my system and my life, I have no more worries about late hours trading, no more faffing with mixed session holidays, and a better planned balance of trading hours and life. This is important for me. I am now only interested in Dax and Euro STOXX.

Good hunting.

Travel Well
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  #308 (permalink)
 GFIs1 
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ratfink View Post
Today's best decision - don't trade, as I had no sleep at all last night. Head full of ideas.

Today's worst decision - don't trade, as I slept through @GFIs1's gem of a trade. Bugger. Fib move hit massive target to tick as well. Just a day, thousands more, if I'm fortunate....

As you quote it:

Market is there tomorrow as well

Never look back!

GFIs1

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  #309 (permalink)
 ratfink 
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Done for the early session, getting used to the new setup, only two trades for +32T.

Dax and Fesx playing cat and mouse all morning, I'm thinking they need to get squeezed North away from these areas pretty soon, otherwise the remaining December gaps beckon. (Both have just started lifting as I post this.)

Travel Well
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 GFIs1 
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ratfink View Post
Done for the early session, getting used to the new setup, only two trades for +32T.

Dax and Fesx playing cat and mouse all morning, I'm thinking they need to get squeezed North away from these areas pretty soon, otherwise the remaining December gaps beckon. (Both have just started lifting as I post this.)

well done...
some down move is obvious
THOUGH
it depends on IF we take it

Good trades
GFIs1

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  #311 (permalink)
 ratfink 
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Market feels heavy this morning, looks to be at an important hold or fold area for the entire year ahead, and the decision could change a lot of structural things from here either way.

A rip back to the extension short at 9450 is not out of the question, but it would need above 9500 to look for large long pullbacks, otherwise shorts still in control with downside targets toward the remaining December gaps. Even then with a full short hwb close by there it's a tough turn around for now, but I'm sure it will try.

No trades for me today, have a good w/e one and all.

Travel Well
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  #312 (permalink)
 ratfink 
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Travel Well
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 GFIs1 
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ratfink View Post

my proposal today looked not so bad
expecting some more wash out today

GFIs1

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  #314 (permalink)
 ratfink 
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GFIs1 View Post
my proposal today looked not so bad
expecting some more wash out today

GFIs1

Yes, particularly impressive as end and start of months are usually bullish. Still looks ripe to die and right now methinks TPTB are trying everything possible to halt a w3...

Travel Well
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 GFIs1 
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ratfink View Post
Yes, particularly impressive as end and start of months are usually bullish. Still looks ripe to die and right now methinks TPTB are trying everything possible to halt a w3...

Very true!
Have shown on december the 14th (yes - last year) a bigger picuture of the Dax - the discussion will be in that
thread then - and a landing @ 8350... in extremis might be possible (as long we cross that daily Kumo now).

Have this in mind when start over next week.
GFIs1

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  #316 (permalink)
 ratfink 
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GFIs1 View Post
Very true!
Have shown on december the 14th (yes - last year) a bigger picuture of the Dax - the discussion will be in that
thread then - and a landing @ 8350... in extremis might be possible (as long we cross that daily Kumo now).

Have this in mind when start over next week.
GFIs1

January effect has been strong since 1950, so far we are on course for sideways, -10% or new bear for 2014, a trip down thereabouts and maybe ES1650's in the US might then allow the Gann cycles one more big lift into 2015, depends if we are seeing the next deleveraging wave start or not, but that's strictly wet finger in the air musings. The curtains were drawn, but the rest of the room was real...

edit: It's just closed the 9179 gap, depends if it wants the 9095 one as well today, still too heavy for me to want to play, platforms tend not to behave very well.

Travel Well
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  #317 (permalink)
 ratfink 
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January in the spreadbet accounts was at best a stalemate, I made no net progress and it was as big a mishmash as last November. So, I decided to get back to basics and try the Ninja simulator and chart trader for the first time ever (sad or what!) and in one of fate's frequent cruel ironies I had one of my best days in ages.

Posted here for my own reminder, just using a simple 20-40 tick stop and target, enter and exit at market (I know no commisions, but the spreadbet accounts don't either):





Shame it won't pay for the fish and chips. (Or for the follow-the-trend lessons, that still haven't worked.)

Travel Well
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CPRICE76
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Ratfink,

Are you still trading or have you finally given up due to your lack of disacpline, gamble.boredom trades?

Col.

 
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  #319 (permalink)
 ratfink 
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CPRICE76 View Post
Ratfink,

Are you still trading or have you finally given up due to your lack of disacpline, gamble.boredom trades?

Col.

Still trading and not given up, but it's a fair assessment, caught red-handed in fact. I had taken several steps back to review (yet again) my approach. I totally struggle with sticking to a plan once made, they can last minutes.

Today for example I couldn't resist taking two Sprint trades for the hell of it, one 2 minute trade and one 5 minute trade, both stupid losers. I had one conventional trade with a sub-optimal entry that covered one of the losers. The contrast between alternate days can be stark and uncomfortable indeed. I have now deleted the Sprint layout yet again.

Since you asked so kindly, tonight's plan, which is intended to last for the rest of this month at least, is to only take two types of trades, intra-day with fixed 15 point stop and 45 point target in one account, and multi-day swings with fixed 40 point guaranteed stop, 120 point target in the other, i.e. both 3:1 risk/reward. I am allowed to add to a profitable position in the account that uses stop-aware margins but not otherwise and strictly no meddling.

My struggle is rarely with the market, I can see it fairly well on most days. Sadly the fight with myself knows no bounds. If I thought I could keep a plan going for more than a week or two I might start posting useful pictures again, but until I can do so there's no point and not many points.

Travel Well
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CPRICE76
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ratfink View Post
Still trading and not given up, but it's a fair assessment, caught red-handed in fact. I had taken several steps back to review (yet again) my approach. I totally struggle with sticking to a plan once made, they can last minutes.

.



Well, if thats the case.Why dont u adopt GF1S trading rule and allow yourself just ONE TRADE per day ( just like one meal per night etc..)????I take it you have a day job or you rely on trading for your income??

Col.

 
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  #321 (permalink)
 ratfink 
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CPRICE76 View Post
Well, if thats the case.Why dont u adopt GF1S trading rule and allow yourself just ONE TRADE per day ( just like one meal per night etc..)????I take it you have a day job or you rely on trading for your income??

Col.

I think the flaw in your concept is the word 'rule'. My problem is that I still have limited understanding of that concept and, until I get it, no system of 'rules' will make a blind bit of difference. It remains a work in progress, 6 blokes with shovels still staring blankly into the hole. Cricket bat or 4x2 required.

@GFIs1 has been an inspiration and I totally admire his approach and I am indeed working to evolve in that direction.

If I could lose the character flaws it would make so many things easier, but that's just always been my life as opposed to anybody else's. It has provided much entertainment and much tragedy for all concerned. I have software in thousands of amazing machines doing great stuff all over the world, I guess I just never expected trading to be such a fiendish character test and nasty addiction at the same time.

I don't currently have another day job and my plan over the next year is to continue personal development and also export more of my system for automation, we'll see where that goes and whether it helps. For now I have a plan and time, in a few more years I might need a very different one.

How about you?

Travel Well
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CPRICE76
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I am a full fime FDAX trader.However, I only conduct 1 trade per day.That way I am either right or wrong about the market from the off.No chasing losses and lots of round trips etc..As they say ..Less is MORE!!!!!

Are you addicted??


Col.

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 ratfink 
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CPRICE76 View Post
Are you addicted??

Permanently. But in a good way, really, I think.

I would not like to have to give up, but I will face that decision if needed and retire gracefully, albeit with pride hurt, would be telling porkies otherwise.

My approach and system have been through so many evolutions that sometimes it is hard to have a stable base to compare, but the latest one has been major. Ditching the US markets completely has been a big step forward and one that I am happy with in terms of its impact on work hours and life pattern. I used to think I needed the technicality of the ES to help with Dax levels but I'm now happy this is not so, Dax is just as good a mover.

Today I made no trade and I am happy, if disappointed. My system was a screaming buy all day but I had overslept big style so I sat on the sidelines. I had one good entry to get long for a +45 (would have been 80+ into the close) but wasn't quite where I wanted it. In old days I would have probably hit the sell button several times so we have made much progress since then. If I can stick to the reduced number of trades approach and stay off the slot machines then I still have a good chance to capitalise on what I know and what I see everyday.

Appreciate the input, thanks.

Travel Well
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CPRICE76
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Well just think on the good side, at least you didnt loose any cash! Good trades for tmmrw!

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 ratfink 
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After much recent thinking I have decided to focus on some serious self and system development for at least the next couple of months. I reckon I spend too much time reading all the posts on futures.io (formerly BMT) as it is, so a break won't hurt. Too often I just keep reading mounds of stuff instead of just getting on with the real work I need to do.

It will be interesting to see if I can make this stick - probably no hope at all for the trading if I can't. Will update if I achieve anything by the end of March/April or if I had to get a job as a stripper.

Best wishes and good trading to all.

p.s. Paint, of course.

Travel Well
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 ratfink 
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Haven't had to get a job as a stripper yet, am continuing to consolidate my graphical computing engine, have now accepted that less mid-week information from the interwebs and more sleep is better for me, and now deeply understand that taking out impulsive emotional trades is all about real, rather than assumed, confidence in the edge.

Took a relaxed 40 points out of the Dax last week from just 4 trades, saw fifteen but one or two would have done just fine as well. I guess it's better to get Dax points more easily than Lumo points but that's been fun too:



Clutter-cleared indicator code-space massively on Friday, always a good feeling. Will start moving into auto-strategy domains later this year, well out of my depth in there though.

Seem to be in a good place for now, will resume more active daily futures.io (formerly BMT) posting when I'm done building, but it has been fun catching up this weekend, still love this joint.

Best wishes and good trading to one and all.


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 ratfink 
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sixtyseven View Post
One of the students raised her hand and inquired what the beer represented. The professor smiled and said, ‘I’m glad you asked.’ The beer just shows you that no matter how full your life may seem, there’s always room for a couple of beers with a friend.

Today's job was exactly this.



So thanks for posting a great story and reminder of what is really important.

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 ratfink 
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Might become an interesting wedge if it can break out, it's closed the gap at 9122 and is trying to hold a very important daily extension. Still a work in progress with no confirmation as yet so it might not want to.



edit: Well, it doesn't want to yet and decided to breakdown with a strong reaction from the lower trendline instead, and the cash closed right on the daily extension I mentioned:



Note to self: trend and trade locations first, interesting possibilities second.

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 ratfink 
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Making 'What If' space - yesterday I saw a wedge that was nothing like a wedge, for several reasons (including blind stupids), but also because there is only a limited concept of 'What If' in chart space, so I have added an indicator to make just that space, and only when it's needed.

Makes longer term analysis charts look a lot more open-minded and, (in this case on FESX) makes it easier to spot still open gaps, in this case 2962.51 from 6th Feb (doesn't mean it wants it and doesn't mean it won't just blow straight through it, but always handy to know where they are/were.)



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Three hours of rank chop on Fdax, accepted it for what it was and scalped +36T out of it, covers lunch anyway. Looks like it's setting up for a larger leg but then it has all morning, the little charmer. Good lesson in altering expectations and just seeing what was there as opposed to what I often do and seeing what I want to see.

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CPRICE76 View Post
Im ok thanks.Have you now resorted to the very limited number of trades per day approach or still addicted and end up being trigger happy when your first daily trade becomes a loser and start to chase your losses and end up like a bear with a big sore head?I used to be like that

Col

(Moved out of the Lumosity thread into here.)

I have cut down the number of trades dramatically and am now asymptotically approaching an average that easily meets the target of this journal - it's been a good few weeks since I had one of the 15-25 type of red mist blunderbuss days, maybe even a couple of months.

I think two or three will be even better than five, except on junky scalp days like today and then five is still plenty, three would have done for today except for taking one full stop out that needed making up for (so it's still a bit personal, I guess, lol.) If I was smarter I probably could have just walked away from the charts once they got that sort of junky day look.

Last Thursday was annoying where I lost sight of reality and the dominance of the trend and took two dumb stops but it didn't cause the reaction that it would have done in the past, I just worked out a solution - maybe you can teach old dogs new tricks!

Cheers.

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(Moved out of the Lumosity thread into here.)

I have cut down the number of trades dramatically and am now asymptotically approaching an average that easily meets the target of this journal - it's been a good few weeks since I had one of the 15-25 type of red mist blunderbuss days, maybe even a couple of months.

I think two or three will be even better than five, except on junky scalp days like today and then five is still plenty, three would have done for today except for taking one full stop out that needed making up for (so it's still a bit personal, I guess, lol.) If I was smarter I probably could have just walked away from the charts once they got that sort of junky day look.

Last Thursday was annoying where I lost sight of reality and the dominance of the trend and took two dumb stops but it didn't cause the reaction that it would have done in the past, I just worked out a solution - maybe you can teach old dogs new tricks!

Cheers.


Sounds a logical approach.

This may sound like a mad idea but a co friend of mine who was a professional trader who used to work in the city actually only trades once he had had a few beers ( any drink of your choice ).He found that this approach enabled him to think more logical and be more " relaxed" and not to get to emotional when a trade he has on goes off side or his stop is hit.Maybe its worth a try to try and subdue any negative emotions ?

Just a thought.

Col.

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CPRICE76 View Post
Just a thought.

It's a fun thought, if not a tad dangerous.....

Anyway, woke up this morning with:

And realised that yesterday I had accidentally (hmmm) created a futures.io (formerly BMT) Emergency Technical Code poem:

When all else fails
Put out
A shout
For Harry @Fat Tails

Penalty price of a weird wired brain, ho, hum.
Cheers.

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It's a fun thought, if not a tad dangerous.....

.

Ha true.

Ps where abouts are you in Birmingham?I used to live in Edgbaston, Im up there this weekend if you fancy a few beers on or around Broad street etc.?
Col.

 
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Ha true.

Ps where abouts are you in Birmingham?I used to live in Edgbaston, Im up there this weekend if you fancy a few beers on or around Broad street etc.?
Col.

A bit further north of posh cricket land, a beer sounds good but I'm with my son in soggy Brizzle this weekend, I'll pm/email you.

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A bit further north of posh cricket land, a beer sounds good but I'm with my son in soggy Brizzle this weekend, I'll pm/email you.

Ok No probs.No idea what email you can use.Best to send PM.

Ps on the beer front, whats your fav brew?

and on the trading front- who do you use as your Broker?

Cheers
Col.

 
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Best to send PM.

Sent.

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After much recent thinking I have decided to focus on some serious self and system development for at least the next couple of months ...... just getting on with the real work I need to do.

It has always been about the psychology for me and continues to be so. One aspect I have never thought about before was CARE - yes that's right, just being plain damn careful, boring isn't it?

I still struggle massively with the trigger pull hesitation issue (passing on at least 80% of decent setups) and I currently leave at least the same percentage of profits on the table and never manage to hold a 2-3X, let alone a runner, unbelievable. So many trades I pull just seconds before they fly that I have to laugh out loud now, at least it keeps me happier, and maybe healthier.

And yet, with no more than 5% self-confidence but with 95% execution care this is still possible:





Test account, over-leveraged 5%/trade stop, no more than five trades a day, usually just two or three, 10 point stop dropped to 5 on green, pulled for 10-15 profit (usually way too soon) and Y-axis in farthings

What is trading? I'm buggered if I know. Can I remain careful for a whole month or even a whole year? I'm trying damn hard. History says the probability is zero, but after the last month's self-sorting it feels like something is changing for the better - can care do that? Can care alone stop the Y-axis returning to zero?

Or is it just scared money? Probably. Is it just the leverage? Never feels like that, but I'm not sure. Do you really need the mega account sizes that some write of? I don't have one and I don't know, so that's a tough call for me.

Can I ever get the confidence to just take the setups that are given to us? I don't know, but other posters (e.g. Welly and co) have recently given me much food for thought. My fear is that I still have to get past the thinking and find the animal....


p.s. Itching to pull the trigger, but taking care to write something thoughtful instead of trading on a Fed day.

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 Adamus 
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You're lucky your methodology seems to allow you do alright despite lack of confidence. The method I'm using seems to fall apart completely when I start dithering. The other explanation is that the method doesn't work, which would justify my lack of confidence. That's why I'm going over historical charts to get to the point where I can prove it one way or the other.

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Adamus View Post
You're lucky your methodology seems to allow you do alright despite lack of confidence. The method I'm using seems to fall apart completely when I start dithering. The other explanation is that the method doesn't work, which would justify my lack of confidence. That's why I'm going over historical charts to get to the point where I can prove it one way or the other.

I can relate well to that, and although I know I have good edges I get easily distracted, lose focus and zone in on the latest piece of the puzzle while ignoring the bigger picture that I should never lose sight of. Posted a good run equity curve yesterday and then this morning I might as well have been throwing darts while blindfolded - so much for care, and so much hard work still needed to make sustainable progress rather than just upthrusts and fakeouts....

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 bobwest 
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Here's something on the subject of "Care."

I understand that you were referring to being careful, which I assume also means things like, being attentive and doing things right -- all very good ideas (!).

But in a different meaning, Al Brooks, the price action guy, writes of having the attitude of "I Don't Care". He means it in at least 2 ways:

1. Using a small enough position that you aren't worried about whether you lose or not: the possible loss amount isn't enough to kill you.

2. Taking a trade just because it is a good trade by your rules -- you've got the setup, it fits the current market context, you have a good stop and target, the risk/reward looks right, and here's the signal -- so at that point you don't care about the outcome; you've done your job, and you won't be perfect in every trade, and not every trade works out, but you don't care, this is a trade you should take now.

He also warns not to be careless and just say "What the heck" and take just anything. It's got to be a good trade by your lights. But if it is, you take it and don't worry about it. Get out if you have to and do it again. If the probabilities are right, your trading will work out in the long run.

The point is, that if you're worried about the trade, it's going to eat you up, and mess you up too.

This is just something I remembered when you wrote about care, and it has helped me be handle emotions and be more objective, and keep some perspective.

For whatever it may be worth....

Bob.

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For whatever it may be worth....

Bob.

A lot, thanks for good input Bob.

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 Adamus 
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From reading up on psychology and neuroscience what I learnt is that the conscious brain where you make decisions can only hold a small number of different thoughts, between 6 and 8. (No idea whether 6, 7 or 8 is fixed or fluctuates though).

So in the heat of trading, I would sometimes overload my puny prefrontal cortex and something new would push out something crucial from my conscious stream of thought and I'd mess up the trade.

I used to think it was carelessness too, but it's just normal for a human brain. Obviously I haven't discovered a great way to fix the issue, but one way is to assimilate more trading decision-making into your subconscious by continual practice so that you free up your conscious hotspots. I see it a bit like a kitchen gas hob, one of those big fancy ones from Smeg, with eight burners on it. If your hob is full while you're cooking (i.e. trading) and something comes along and demands your attention, you aren't going to fit it on the hob unless you take another pot off.

If your cooking skills are already gourmet then maybe that's not it, but it seems like a credible explanation to me. Care and carelessness as a concept generally involves a conscious decision one way or the other to give a monkey's about something, but I think at least as far as I am concerned it's simply my brain needing more training.

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Adamus View Post
... it's just normal for a human brain ... one way is to assimilate more trading decision-making into your subconscious by continual practice .... it's simply my brain needing more training.

Sums it up nicely I think. I've been system building for a good while now and really need to spend the next couple of months just being a user, not a developer. Actually rest of year/trading career I guess, duh.

Managed to put some care back on the stove with a decent trade to get back back half the morning's goofs, so I'm happier and do think you are right - I just need to practice my system inside out, instead of remembering tiles and beating up the damn penguin. @CPRICE76 has also suggested I put the stops in and walk, which of course I 'know' I must do so I can get past the hold'em barrier.

Thanks for the words, and if all else fails at least George has now said I can blow my pension on coke and hookers.

Cheers.

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 ratfink 
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Finished the full session off just -20T, so nobody died.

Bit of a learning and dumb revelation day, as by the evening I realised a huge part of the problem was the focus I put into ultra-short term setups over the last month had completely removed any macro timescale visibility from the immediate desktop, even as I was talking to others about it. Still layered in the background workspaces - but we don't look there when it's hot do we?

So, I will be working much harder for the rest of the season to trade in interesting places and not just get caught taking setups in noise. Find a problem, fix it, sorted. Next.

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I'm no fan of typical Friday plus witch action and had a couple of data and platform issues so an hour will do for me today, two trades only, 1 each way, +18, +10 for a net +28T, covers yesterday's tosh to make it a decent week.

It could well fly out of this area but they can keep the herky jerky stuff. I'll get on with rolling charts over, cheers.

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Woke up with bleary man-flu, did the sensible thing and passed on the trading for the morning session. Finished off some development, did some testing and left it for lunch and a nap.

Came back feeling a lot better (i.e. complacent,) told myself a bunch of things and promptly ignored all of them, went down 5-3 in a bleary pink mist for a net -36T. Dumbest day for a long time.

Spent the last hour removing all the tosh that I built this morning and then some, for the simple reason that it's not needed and it really is time I stopped looking at anybody else's methods and just got on with the job of head-sorting and making simple, sensible trades when I'm in the right condition to.

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ratfink View Post
Came back feeling a lot better (i.e. complacent,) told myself a bunch of things and promptly ignored all of them, went down 5-3 in a bleary pink mist for a net -36T.

I think one thing everyone constantly forgets, a bit like the ancient Greek sailors listening to the Sirens, is that a real time chart of the market is not in fact a warm, cuddly object of familiarity, it is actually a control panel for genital mutilation.

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I think one thing everyone constantly forgets, a bit like the ancient Greek sailors listening to the Sirens, is that a real time chart of the market is not in fact a warm, cuddly object of familiarity, it is actually a control panel for genital mutilation.

Yup, one of 'them' daft days. Tomorrow beckons.

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 ratfink 
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Having man-flu was the excuse, but marrying a single idea was the reason that killed the day. Understood now.

That said, daily action is compromised by some important weekly and monthly levels at the moment, hence big scrapolas.

Dax doing it's typical Tuesday thing so far, taken one pullback trade for +19T. Sense and Sensibility, Strewth.

Crashed out with full sinuses and a stonking headache, reflecting on the importance of position sizing, as in 'sinuses and headaches are helped enormously by a lot of whisky and a little aspirin.'

Also smiled when I remembered an old personal motto, 'ad lib ab init, op cit per se, ceteris paribus, fuck it'. We used to think we'd manufactured 'From the beginning to the extent desired, in the text by the very nature of it, all other things being equal, fuck it.' Which greatly amused both myself and my only friend at the first crap uni I went to. Of course, thanks to WikiKnowItAllia it turns out some of the first bit is poetic licence at best.

However, it has made me realise that is exactly what a trend is - 'From the beginning, to the extent desired', where the extent desired is always further than participants believe and, as PQ knew so well, going too far is precisely what sows the seeds for the next trend in the opposite direction.

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 ratfink 
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I no longer take a CME feed, but do occasionally glance at these for relative purpose....



Taken a look over the ledge?



Dow is relatively trendless over the same period while, strangely in Europe, Fesx is stronger than Dax. All in all a bit of a puzzle for both sides, unless we accept Naz and Dax as the usual leaders in which case hairier changes might be coming after all.

While Ndx remains in that channel I'm still not sure, but at least the cold's gone.

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Choppy Dax had me for -20T for an unwelcome start to the morning, but fought for a +54T to put it straight in the middle of the session, a decent day after the recent cold spell.

Sad that I still can't sit on them, happier that I am seeing my edges clearer again.

Happiest of all that I can now use my Acer hardware BIOS power management to wake up my deaf Compaq over the lan, so they can both rest when Eurex does. Geek fun.

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Chucked yesterday's gains away on silly Friday Dax hops and jumps to make for a tosh week.

Really, really, really should know better at my age by now. I need to develop a much more professional approach to determining when to even consider an entry, let alone squeezing the trigger. I have so many clear and present setups and yet find it astonishing how easily I do the opposite to what I am thinking, what is that all about?, I mean, seriously - still?

I have spent the afternoon pondering and I fear the circle will just continue it's fruitless path unless I make some major changes. I will work through a more formal set of methods next month and see how it goes, I'll only start a new journal if I think it will mean anything.

It's end-of-the-month, week and day and Five-A-Day has had it's day, it is not yet fit for purpose and I humbly request @Big Mike to close this thread.

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