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iqGod's Own Country

  #341 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097




The trade was a one-tick winner with-trend and the entry was on a pullback to the EMA.

The trade deserves three separate emotional logs:

1. When the trade was taken it was with proper technique with good execution at a sweet spot. I waited and waited and then entered at a 'ripe' moment. However I realised that the pullback had not properly tested the earlier breakout so dangerously had to give the stop more wiggle room, out of my comfort level. This is observation one. Keep out of trades that do not allow proper stop placement, no matter how juicy they look.

2. The trade came dangerously close to the stop and must have taken out other's stops which were smaller and in their comfort zones, but eventually started going with-trend. The traders who wouldn't have waited earlier would've been the ones whose stops got taken out. There was temptation to bail out, bail out, bail out at various points with the reasoning 'take your small loss and go home'. However I sensed that it was simply a mask and such risk aversion is anti-good-trading. This is the second observation. Do what is hardest and most difficult.

3. The trade was very close to the target but based on earlier observations rarely does a trade that has given so much MAE result in a good trade later - too many bruised parties want to escape from the loony bin unscathed! This is observation three - Trust your intuition and experience and hence this was accepted as a one tick winner and with no regrets for moving the target.


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  #342 (permalink)
 
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 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
Posts: 1,802 since Feb 2012
Thanks Given: 3,658
Thanks Received: 3,097



Trading is never about luck.

I felt I was lucky that the second trade came 2 ticks short of my stop and then went on its perfectly two-legged journey to reach my target. Mainly because I had entered and then had to take the younger one to the doctor when she vomitted, and then came back to find target achieved.

I think it isn't luck ever. Luck is an 'excuse word' for people who do not take small losses, such as me in the old days (not so old).


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  #343 (permalink)
 
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 iqgod 
Mumbai, India
Legendary Market Wizard
 
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  #344 (permalink)
 
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 cejstrup 
Denmark
 
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Well done on the combine

Keeping risk down. Keep doing it like this and you'll be set Are you going with a continuous combine next ?

To succeed in trading you need to think like the minority ,so you won't end up like the majority
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  #345 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
Legendary Market Wizard
 
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Posts: 1,802 since Feb 2012
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cejstrup View Post
Well done on the combine

Keeping risk down. Keep doing it like this and you'll be set Are you going with a continuous combine next ?

I know what you mean. However the continuous combine does not appeal to me.

Also, looking at my past history, I know I will go on and one of these two things from here (its easy to think I'm in control but historically 'the winter' has been difficult for me):

1. Become risk averse to stay at this peak and take tiny profits.
2. Try to force my will upon the market and get close to DLL.

Hence with only three days left I've decided to change course and simply open and close one position for a random three days - mainly because I am going on a vacation and do not want to involve trading in that. ( I tried it once where I was trading from Thailand and screwed up).

There are traders who get 10 days and reach this same goal. Kudos to them. I am very slowly getting there (from a deep trough) and do not want to derail myself even if people pop up and say 'You are not meant to be a trader.... look you are almost there and you are not allowing the ride to complete."

I will continue the ride and choose to roll over.

This has been a fruitful year.

Here's wishing everyone happy holidays and a Happy New Year!


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  #346 (permalink)
 
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 iqgod 
Mumbai, India
Legendary Market Wizard
 
Experience: Advanced
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Posts: 1,802 since Feb 2012
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Thanks Received: 3,097

My combine ends on 9th Jan and I'll be gone till 6th Jan starting today. No trading is allowed today. Hence I'll use the last three days to take quick trades to roll the combine, unless the 'all charged up back from holiday' attitude allows some miracles.

I am up +$900 and need to make $600 more to achieve target which is a 3:2 ratio whereas the days done vs days left ratio is 6:1 hence this seems tough to do.

Hence the decision to wrap up the combine.

Cya!


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  #347 (permalink)
 
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 iqgod 
Mumbai, India
Legendary Market Wizard
 
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Today is Day 20 and with tears in my eyes and gratitude in my heart (Special thanks, @Big Mike and @PandaWarrior, @josh and MANY MANY MORE) I announce that my account stands at $31,554.90.

Final trade of this combine netted $975.



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  #348 (permalink)
 
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 bobwest 
Western Florida
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iqgod View Post
Today is Day 20 and with tears in my eyes and gratitude in my heart (Special thanks, @Big Mike and @PandaWarrior, @josh and MANY MANY MORE) I announce that my account stands at $31,554.90.

Final trade of this combine netted $975.

Congratulations!

Bob.

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  #349 (permalink)
 
iqgod's Avatar
 iqgod 
Mumbai, India
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Experience: Advanced
Platform: ChartNexus
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Posts: 1,802 since Feb 2012
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bobwest View Post
Congratulations!

Bob.

I can't believe I forgot to thank YOU, my patient follower despite the fact that I was sounding like a broken record forever.

You read and thanked every single post in this thread, you kept my spirits high - thank you Bob!


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  #350 (permalink)
 
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 iqgod 
Mumbai, India
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Experience: Advanced
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