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Mergodon TopSteptrader Live Account Journaling
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Mergodon TopSteptrader Live Account Journaling

  #171 (permalink)
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Hi Matevisky, all in all it was a great day. When markets are in a huge chop box and you are not seeing what you like, backaway. You do so with a few $$ in the pocket actually I think for the first day it was near perfect. Gr8t JOB.


matevisky View Post
Eh. Not my best day. Call me a coward, but first day, I don't want to push it. The range is huge, and the market is acting strangely meaning, I don't know which outcome will come, thus no need to push.
Also I don't want to overtrade on first day. So I call it a day. I am not on profit rush, I am on income and consistency rush. I don't have to prove I can do extrema profit, I have to prove myself as a successful trader.
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  #172 (permalink)
Mate
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tradermark2009 View Post
Hi Matevisky, all in all it was a great day. When markets are in a huge chop box and you are not seeing what you like, backaway. You do so with a few $$ in the pocket actually I think for the first day it was near perfect. Gr8t JOB.

Correct. Only issue here is to I was not feeling the mood to w8. My timebased approach say. No clarity w8 the next step: It would be 9:05, 9:30 etc... But till sit on hand.
So yes, I got out with small profit, and no I was not patient enough. On the other side I was not trading more than 2 weeks. And I was not feeling comfortable with the new VPS platorm yet. I will get used to it, but my thinking was that to stop if you are not feeling okey. It is not combine anymore so I am not rush on profit anymore. Yes, I have 20 tick profit target, and yes I was in there, but no It was not the time to get out.

So thank you I believe I made a good decision, but I have to more prepaired mentally again to keep doing it and w8

Máté
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  #173 (permalink)
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Favorite Futures: Mini's and CL
 
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Once a trader has the system entry, money mgt., and exit figured out, the next which is 90% is knowing ourselves. It has taken me years to understand that and how to control it to use it for my market/trading style. When I go on vacation and come back the first day I do not trade only watch the use the text/arrows to draw my trades. When I do that I am preparing for the next day. For me execution is key, and then confidence is right behind that. So I totally hear what you are saying.


matevisky View Post
Correct. Only issue here is to I was not feeling the mood to w8. My timebased approach say. No clarity w8 the next step: It would be 9:05, 9:30 etc... But till sit on hand.
So yes, I got out with small profit, and no I was not patient enough. On the other side I was not trading more than 2 weeks. And I was not feeling comfortable with the new VPS platorm yet. I will get used to it, but my thinking was that to stop if you are not feeling okey. It is not combine anymore so I am not rush on profit anymore. Yes, I have 20 tick profit target, and yes I was in there, but no It was not the time to get out.

So thank you I believe I made a good decision, but I have to more prepaired mentally again to keep doing it and w8


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  #174 (permalink)
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matevisky View Post
Correct. Only issue here is to I was not feeling the mood to w8. My timebased approach say. No clarity w8 the next step: It would be 9:05, 9:30 etc... But till sit on hand.

When I'm not in the mood to wait, and feeling impatience, I know I have to sit on my hands, othervise I'll definitely overtrade. I always say to myself I don't have to trade, if I don't feel it, so I think you made a smart decision, overall, it was a good day, as others pointed out before me.

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  #175 (permalink)
Mate
Budapest, Hungary
 
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november 6. 2014 Never miss a big picture...

Today picture, and movement was not as nice as it used to be. When I observ the market, I am trying to go from the easy way to the hard way. Today I was trying to fade the market up, but speaking frankly It could have been happend to pop up, but lots of things was not ready to do so.

I was checking the TF - Russel. It was starting with a good 40 tick runup, and a nice drop after that. YM was ranging. than dropping.

So what are the tells, what I do use? I have some statistic first of all what is the market usualy do, and how to do it. The market is a slow animal, so based on my numbers, She likes to go 1 way, and very rare to doing big moves in the first 30 mins. It could happen, and it could ping pong, but when it is doing it, it is alway doing a very nice picture on a MACDBB.
Today was everything just not very nice. So here would have come my next play - it did not because I was stoped trading. So if the market is ranging in a zone, and not seems to be to pop up as usuall do, and we have a gap down, and all the bigger TF shows, we could go down, than we will go down. Check the picture:
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I know the after market analysis is always easy, but I would like to point that out, based on these picture there is no good entry to short, only if you are playing it without any indicator move based on the level, the time, and what the market is usally doing during this time.
The second problem with short, the easy target is the GAP close. I am not using too many level, so there is no reason to going further. Based on this, and based on the 30 tick profit range, the only good entry if you simply put a short around 9:45 when the market is up, saying that, if it will go up, I am screw anyway, but if go down, this is the only place, where I have good edge.

The second problem comes into place after (2). Easy to see, the market is trending down. Will it continue to go down, or will it turn back? You never know, but you have to levrage 2 thing: If it is continue down, it will be a big drop, so most probably you will get more pullbacks just like now. But there is much more place to go up. So you have to choose the side. You are not able to be in 2 same river. So if you are shorting, than the best time place to short is close to the IB range, but this short has to work quickly. This is the only tell what you can use this short. If it is continue down, it will be a big sellof. If not, than it will come back and will continue to trend up. Unforcuneatly based on the 440 tick chart it is very hard to tell, and most probably I would say that to short why not? The seldom play is to never play for the trend, if you are not sure. Specially if you are not a trend trader. In this case we can check the bigger timeframe, is the trend formation is nice or not

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Az you can see this is everything, just not a great trendformation. Without any overread the market, there is no lower low. So many thing has to happen, to make this a counter trend, so we are much safer place to play the original up trend, than to continue down and imagine that, it will create a lower low, and make it a trend. Once again. Could happen always, but the market has to more to do to continue down, than to up. And once again, if it is goes down, than there will be a lots of great entry, but if it is go up, most likely there will be not to many place to have a better entry.

So this is my view. And this is not easy to read, and I dont think so I would have been read like this. But I am doing this excersise over and over again to learn more and more, to remember to always check both side, and make a bet, where you do feel have your edge...

Máté
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  #176 (permalink)
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matevisky View Post
And all the process is done. I have a live funded account. Thank you for Erika great contribution from @TopstepTrader we are there... See you tomorrow, with live trades!

Now trade even less then you did.

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  #177 (permalink)
Mate
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Cachevary View Post
Now trade even less then you did.

Agree, and the good news I dont feel the rush anymore. But you know you have to keep balance, when you run away, because you are a coward, and you are runing away, because you do not feel it. You have to keep chalanging yourself, and you have to dont get burned. Hey, but that is life is not it?

Máté
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  #178 (permalink)
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matevisky View Post
I dont feel the rush anymore.

That`s a great start!

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  #179 (permalink)
Mate
Budapest, Hungary
 
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November 7, 2014 - TST live trading

Not my day. Feeling dizzy, market not moves with my best taste. He is trying to do it I am not saying he is not, but not good enough, which makes me scare. Also to many speaks today, so no good trade location at 9:00 because of the speak. With a quick pop up, or a big drop would be nice, but all the thinking and chopping killing the pictures what I do looking for. Thus no need to push it. Little red after the commissions, but I call it a day

You can ask why not short from the beginning (1). Easy. All trend lovers now, there is a pullback somewhere. It was not there where I thought Anyhow my best guess is it will pop up from where I got out , but we will see tonight when I will do the overview.

(2) was a better comfirmation to short. And I thought it will shoot down till TP1 (almost did missed by 5 tick, which is good enough for me), but hey, I thought we can do more. So I did w8. Pullback was coming, I moved out my SL back to the Initial Balance. It was a normal call. If it is a trend, and you got stopped out, You will never have a great entry to go back. When it is dropping it is dropping like a rock. So it did. I thought we will have it. I have been checked the time, we were after :40, all the picture was showing consolidation. So I've put my profit target to the bottom of the consolidation line, and I agreed with myself I will call a day here. It is my break even point, and I don't want to overlook it. I would like to be a consistent winner, when I am familiar with the things, and I don't want to have hard feelings to overcall it when it is not clear

So have a nice weekend all of you. I will post some thought, and report about the first week in school stay tuned
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Máté
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  #180 (permalink)
Mate
Budapest, Hungary
 
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Understanding the simplicity in chaos


One thing to know what should/would happen, and another thing is to trade. I believe I am a good level of confident, to do not do stupid thing, and good level of confident, to call trades, which should/could work out well. But the topic is not this.

There are a lots of way to understand levels, zones, market rotation points, bigger and smaller moves. Really. Lots of lots of way. But, you are never going to be certen, we all well know this. So in my methadology and in my world, I never would like to be sure about something, or certen. There is no need for that, and I would like to train brain for this simple rules, which is happening over and over again on the market. Not always, but good amount of time, to keep me out from stupidness, and keep me in the game to stay positive. And once again, I am not there, to show you to trade these points, but I am getting closer and closer to fullfill my desteny

So What was said by me in the last post worked out very well, not like yesterday when it went up, after he went down:P. Today my feeling was that, it will turn at TP1 point. Everything was pointing to do that. The timestamp, what I love to check for, the pictures and everything. BUT I have to point that out I am not perfect, and a market neither. He love to do stupid thing to full you so if you are in the game, and you have to be in the game. Check the picture:
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(well. my bad. I was checking the news calendar again, and there was no news at 10:00, it would have been tradeable. Meaning I was tired, to missread that, so good to not trade)

So I dont know any good way to spot this trend down. but it is not really important. I do know where it has to go. And you know what. I am happy to see the market reach the TP1 level at 9:45. I do know that, hey Mate I am there, it is a safe point for you to get a turn. Yes I can fool you, but most of the cases I will not. This is kind a trade, where you are NOT waiting for comfirmation. Why not? Because the TIME, and the PLACE, and the MARKET CHARACTERISTIC has to be enough for you to believe that, it will turn. If you are w8 to comfirm, than you are loosing the good R:R entry. Because speaking frankly to get quick 30 tick is more than enough for me. The trend picture will be shown at (4) than it is a safe target to say the opening gap could close.

But coming back to my point. The market DID not turn at 9:45 There was a quick retest at (2). It could happen. 20-30% of the time it will happen, and not to many cases it will fake you with a lower low. Not always. As I said the market is not perfect, but that's why it is much batter to have a level and time based entry some time, than to w8 the comfirmation to going back.

And once again. I do not said that, I am praticing this kind of entry. But I do know that it is exist, and I am teaching my brain to take it. Maybe not now, but later. When everything is fits.

Going foward with the day (3) is fed speak no trade, and (4) easy trade. Nice picture very easy to take, tought in every book, the safest entry to hope in any trend. Really!

So I would have been made a lots of money today, but the goal here is to be ready, and force myself to trading only if I do feel that I could be disciplined, I am in red. Neither of the things was not there today, but the market was kind, and showen me, hey Mate I am here, I am doing what I have to do, If you are ready we can dance longer!

Máté
Full time traderLive journal here
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