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COMMON SENSE


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COMMON SENSE

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  #801 (permalink)
 alejo 
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mfbreakout View Post
Yesterday CL sold off from 82.64 area to 80.80 area with usual SONG and DANCE in between. Today, it went upto 83.29 area and after an hour down to 82.30 and counting- a good example of video game.

may i consider strong this move up at open?
i made a long 8218 , breaking 8273 imaging at 83ishes....daydreaming with 85 and i am seeing evaporating and and now waiting for a pullback

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #802 (permalink)
 mfbreakout 
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Traders coming up with pre conceived levels are STUNNED just as they were to the down side. Follow the Money. I tried short before NY open and got some points but once market is open- follow the money. GREEN= LONGS
RED= SHORTS, it's a pretty simple equation.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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alejo View Post
may i consider strong this move up at open?
i made a long 8218 , breaking 8273 imaging at 83ishes....daydreaming with 85 and i am seeing evaporating and and now waiting for a pullback

If 82.18 long was part of your plan then it's a good trade. I was short from 82.54 area from Globex session. Covered most 82.10 and after NY open once price got above 82.70 area, there were no longs for me. I waited for ORH formed and shorted 83.20 area.

I had no way of knowing if NY open will be strong, so i stayed with my short and got out at 82.71 and waited for moneky to bounce higher.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #804 (permalink)
 mfbreakout 
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Why on my short around 82.48 i cut down position size yesterday? becuase of probability of Monkey jumping higher as it did this morning. Well, yesterday i cut down size, today i added back size from the short size. Still holding some shorts, will look for longs around 81.70 to 82 area.


CL came to 81.80 area . Long made sense. Out flat 82.50 area.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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mfbreakout View Post
CL came to 81.80 area . Long made sense. Out flat 82.50 area.


Long again 81.78 into the close.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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mfbreakout View Post
Traders coming up with pre conceived levels are STUNNED just as they were to the down side. Follow the Money. I tried short before NY open and got some points but once market is open- follow the money. GREEN= LONGS
RED= SHORTS, it's a pretty simple equation.


NQ Long 3905 area .



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Once a trader gets used to Scalping and action- slow ride does not make sense to them.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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mfbreakout View Post
NG- not a good day. Should have paid attention to Gap down in NG .


NG rise from the ashes. Yesterday Zero, today Hero- such is a life of a day trader.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Damn- Amazing to say the least. I got out of NQ long around 3951 and it ran up another 22 points.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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CL in 80-85 range till new catalyst shows up. CL is forming a base for next up move. When and how that will happen we never know.

" Investors are buying into funds that track oil prices at the fastest rate in two years, betting that crude will rebound from a bear market. The four biggest oil exchange-traded products listed in the U.S. received a combined $334 million this month through Oct. 20, the most since October 2012, according to data compiled by Bloomberg."



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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I have been thinking about Forex futures trading for a while. I have not traded it yet but it's about time. These will be mostly swing trades. I will be starting with Euro and Aussie $. 2 step process as with everthing i trade.

1) identify the trend via weekly/daily chart.

2) execute via 30 minutes chart.

Attached chart shows Aussie $ i am looking at.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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forexxch View Post
Interesting, i will check this on my own...

Please do post your set ups if you trade forex. I am in the developmental phase of my forex set ups.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Euro weekly big picture.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Euro short. How to not get trapped within games being played by algos, hft, forex desk, brokers etc.. ? Try to step out of areas where everyone is.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Trading Wednesday's like any other day will give more surprises than one can handle. With Volatility of the day it's not worth trading for ticks. Still holding some shorts. As CL bounces 20-40 ticks into ones trade and it requires long hold time- eyes and heads start spinning. If that's the case, stay away.

2 trades, both shorts . One before DOE and one after DOE report.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Shorted NQ into electronic close yesterday. Added to shorts during Euro session and after 2 hours from NY open, i had to get the hell out of NQ.

reshorted again 3975 but this time small size so that i can stay put.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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mfbreakout View Post
Shorted NQ into electronic close yesterday. Added to shorts during Euro session and after 2 hours from NY open, i had to get the hell out of NQ.

reshorted again 3975 but this time small size so that i can stay put.

Cover some 3950.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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83.20 to 81 area- that's quite a move in front of everyone bullish stance. There are no longs till flush down. Out flat 81.18.

2 to 2.30 pm is tough time to hold. Praying for a flush down to try long otherwise done for the day.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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mfbreakout View Post
Cover some 3950.

Added to short 3963 area but financials are not giving up.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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mfbreakout View Post
83.20 to 81 area- that's quite a move in front of everyone bullish stance. There are no longs till flush down. Out flat 81.18.

2 to 2.30 pm is tough time to hold. Praying for a flush down to try long otherwise done for the day.


Why did i left 80 ticks on the table even though my analysis was correct and i have seen this 100's of times? I am a CERTIFIED MORON. Instead of just staying put i got dizzy with days gains and start imagining things like CL will bounce hard and take away my gains. What a MORON.

These dudes look smarter than me (lol)



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Cover Euro short. I hope it bounces rather than continue on her down path.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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Great Trade @ mfbreakout...it is difficult to do...holding a Trade with Great Profits like on this move....i jumped out before that at 81.50....i Entered just before Report on Technical set up, and held through retrace, so i do not usually hold that long, but i have seen how you have posted your hold time, and i give it my best to hang on to where i did.
I Kick myself all the time.
You did Great for one day of Trading

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 mfbreakout 
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sandptrader View Post
Great Trade @ mfbreakout...it is difficult to do...holding a Trade with Great Profits like on this move....i jumped out before that at 81.50....i Entered just before Report on Technical set up, and held through retrace, so i do not usually hold that long, but i have seen how you have posted your hold time, and i give it my best to hang on to where i did.
I Kick myself all the time.
You did Great for one day of Trading

What are these sexy looking things on your chart?



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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mfbreakout View Post
What are these sexy looking things on your chart?

That is from the Indicator i use.....Triangles just show how far the Market Pushed in that Direction , and shows how
many Ticks from that move.
I am sending you pm soon.

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 mfbreakout 
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That's why i cash at the end of every day or within couple of days. It's all FUGAZI.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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set personal record for Gold today in terms of Hold time. It does not make sense to hold any instruement for full ATR unless there is a catalyst. For GC it was US $ and GC reaction to it over last week. GC should have been flying and taking out some resistance levels but it just got stuck after 80 points move over last 10 days or so. GC has been in a bearish trend and there is nothing better than to short into bounce.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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We get enough headings to keep us amused.

" Crude Rises After Chinese Growth Exceeds Expectations" Yesterday.

" WTI Oil Climbs as U.S. Motor-Fuel Supplies Seen Lower" Yesterday.

" WTI Falls as U.S. Inventories Increase More Than Expected" today.

Lol, inventories have increased every week for last 3 months. There is plenty of supply.

Technical and fundamental side of crude has more layers than most traders realize. No wonder our heads SPIN on most days.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Coffee is getting ready for a long set up - soon.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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set personal record for Gold today in terms of Hold time. It does not make sense to hold any instruement for full ATR unless there is a catalyst. For GC it was US $ and GC reaction to it over last week. GC should have been flying and taking out some resistance levels but it just got stuck after 80 points move over last 10 days or so. GC has been in a bearish trend and there is nothing better than to short into bounce.


Catalyst for Gold short as reported by Bloomberg.

" Gold futures fell the most in two weeks as the dollar’s rally and muted U.S. inflation cut demand for the precious metal as a store of value.

Global assets in exchange-traded products backed by gold are close the lowest in five years, and money managers cut their bullish futures and options holdings in eight of the past nine weeks. The cost of living in the U.S. barely rose in September, the government said today, while the dollar rose for the second straight day against a basket of 10 currencies.

Gold slumped 8.4 percent in the third quarter as U.S. equities surged to a record, eroding demand for the commodity as a haven. On Oct. 6, the metal fell to the cheapest this year. The price climbed as much as 6.1 from the low after the Federal Reserve cited slowing foreign economies as a risk to the U.S. That prompted some investors to push back estimates for an increase in interest rates.

“Lack of inflation and strength in the dollar has put a damper on gold purchases in the near term,” Adam Klopfenstein, a senior market strategist at Archer Financial Services in Chicago, said in a telephone interview."

" Lack of inflation and strength in the dollar" is all i look for. Everything else is a side show when it comes to Gold.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Trading 80 to 85 refrence point. Long 80.29 and out 81.68. Where is first resistance? Where ever we get the strongest and tallest GREEN bar.
Short 81.67. Out some 81.08.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Trading 80 to 85 refrence point. Long 80.29 and out 81.68. Where is first resistance? Where ever we get the strongest and tallest GREEN bar.
Short 81.67. Out some 81.08.


Out 80.80 and looking for longs. Part time lover is no good ( tune is excellent though) and part time trading is not good for day trading CL. It requires focus and confidence which only comes with screen time.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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What happens after kind of PRICE ACTION we had over last 1 hour? Things typically setlles/ slow down and we trade in a pretty defined range. In my previous trading life, i will start trading NY open without having any REAL idea as to what happened yesterday and what happened during Globex session and why it happened. In terms of Why- it's just an educated guess but one need to have some premise to go by otherwise one ends up just looking at jumping prices.

Out flat 81.28.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Everything up and up. Is there something one can trade from the short side also to balance it out? Out 1227. Please bounce.

" " Lack of inflation and strength in the dollar" is all i look for. Everything else is a side show when it comes to Gold."



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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TF from the long side.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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It's all FUGAZI.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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I am not sure why it has taken me 4 years to grasp what Mark Douglas talks about in this video. How can one implement something which he does not grasp? One of the key reasons it took me 4 years to grasp what Mr. Douglas is talkng about is that when i firrst read his book i was also reading lot of other books about trading. After trading all day ( better description will be after getting hosed all day) i had limited energy left.

To make it worse, i did not use my limited time and energy left carefully. During learning process we are like sponge and in search of finidng something which HIT US RIGHT BETWEEN THE EYES we go through all kind of sources/material. Looking back most of it was not good. If i was smart enough to just watch Mr. Douglas video and ignore 90% of other stuff, i would have been better off.

Bottom line 1) Be very selective with what you read/watch during learning process.
2) Learning never ends.
3) If you have to watch and learn from ONLY one source- following video is the ONE. Watch it when you are fresh, without distractions and watch it again and again over a course of months. I try to watch it every couple of months and every time i look at same concepts little bit better, little bit differently.

"THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" is one concept from Mark presentation i have been working on.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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"THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

One can not be so care free that what's happening in front of a trader he totally ignore it. 2 trades in CL during 3 hours time period since 9 am.

1) Long . Small loss.

2) Short. Still holding as of 11.11 am. Added to short as CL bounced from 80.40 area. Lunch hour coming up , so may go flat soon.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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" Lunch hour coming up , so may go flat soon."

Out flat 80.94. Looking for longs. No flush down came, so i did not take any longs from 80.40 area. CL ran up to ORH again and looks like may try to breakout of the range.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 CACFUTURE 
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" Lunch hour coming up , so may go flat soon."

Out flat 80.94. Looking for longs. No flush down came, so i did not take any longs from 80.40 area. CL ran up to ORH again and looks like may try to breakout of the range.


Hello MFB,
I presume you will definitely love this one :

TraderFeed: When Stop Losses Stop You From Winning

cheers

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 mfbreakout 
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CACFUTURE View Post
Hello MFB,
I presume you will definitely love this one :

TraderFeed: When Stop Losses Stop You From Winning

cheers

" I presume you will definitely love this one " It's an understatement to say the least. " If you have not practised your stop loss in front of a mirror with tears coming down, you have not traded enough".

Love it, Love it. Jsut like love one has to EXPERIENCE heart breaks of stop loss to get it. Don't argue with this one you just can not win as Chris Rock says about her woman. One can have 100 strategies for stop loss but if they are within NOISE, you are done. Don't be the one with a good set up/trade and then say afterward i blew it.

NOTE; Chris believes in Shock humor , so viewer discretion is advised.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Why i did not take long around 80.40 but took a long around 81 this afternoon? " It's all about probabilities" Mark Douglas.


CORRECTION: Note on the chart should read l holding long for test of 82 to 82.50 area. Not 83. 83 and beyond will be nice but based of probabilities i am not counting on it for today.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 alejo 
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Euro short. How to not get trapped within games being played by algos, hft, forex desk, brokers etc.. ? Try to step out of areas where everyone is.

hi what is ib time here in 6e are you using?

thanks

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 mfbreakout 
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hi what is ib time here in 6e are you using?

thanks

By IB i guess you mean Opening Range (OR). I use 30 minutes starting 2.30 am USA eastern time. However, i am not trading Forex for day trading. Mostly as swing trading. Even for day trading, it takes 3-8 hours of hold time to get paid unless there is some pending news.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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2 shorts in TF with painfully long hold time.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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A special kind of day- my term for such a day is " GOTTCHA " trading day. This kind of day used to be very frustrating day for me with lot's of Mikey Mouse trades with more paid in commission than profits for the day. One can spend days and weeks trying to come up why this happens and that happens on such days.

I got some sense as to how to trade such days after i understood the concept of RANDOMNESS within ATR. Per my way of looking at such days there are no 1:1 risk reward set ups on days like today ( i do not believe in them for any other day also).
My 2nd rule for a day like today is to pick one side and then hold till position get paid.

I took long aaround 80.82 and held it for 40 minutes to get paid. I would have added to long position if CL had pulled back to 80.30 to 80 area into close. There are no precise levels, just probabilities.

Out flat 81.18. I have not taken any trades in TF except 2 shorts. First one around 1116 and 2nd one around 1114. There is no need to trade when an index is trading within 5 points range. As usual traers are doing more analysis of this tight range day than the day calls for.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Why i stopped looking at smaller time frame charts? If you ever feel like you are trying to catch a jumping rabbit while trading it's a clear sign you are trying to trade against computers/algos/HFT etc.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Which of the traders within you will have contol of your trading on Monday, Tuesday etc.

Why Traders Keep Losing Money- Brett Steenbarger.

"Imagine a mutual fund run by several money managers. Some of these managers are relatively astute and quite attentive to market data and patterns. Others tend to take their eye off the market ball and consistently lose money. The overall performance of the fund, averaging the returns of these managers, is mediocre, as the losses of the poorly performing managers cancel out the gains of the astute ones.

What would you do if you were the chief executive officer (CEO) of this fund?

Easy, you say. You would identify the successful managers and place all the money in their hands. You would either fire the unsuccessful ones or ensure that they couldn't make final decisions about the investment of funds.

Now imagine that, within yourself, there are actually several different traders, each of whom takes control of your account for a period of time each day. One or two of these traders are relatively astute; others are downright destructive. Your overall performance suffers as a result. As Chief Executive Observer of your own account, what should you do?

...If you harbor multiple traders within you--some careful, some impulsive, some successful, some losing--your first task is to avoid labeling these traders and instead take an Observing stance. You need to figure out why these lousy traders within you are trading! They evidently are not trading simply for the monetary reward; if that were the case, they would never overrule the successful traders within you. The chances are good that they are trading to achieve something other than a good return on equity: a sense of excitement, a feeling of self-esteem, or an imposed self-image.

You do not fail at trading because you are masochistic or because you love failure or feel you deserve defeat. Rather, you sabotage your trading because you have different facets to your personality, each with its own needs, each clamoring for access to the trading account. Your trading suffers because you are not always trading with the equity stake firmly in mind. In a strange way, a losing trade can be a success to that part of you that is, for example, looking for excitement--not profits--from the markets."



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 bobwest 
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Which of the traders within you will have contol of your trading on Monday, Tuesday etc.

Why Traders Keep Losing Money- Brett Steenbarger.
...
"Now imagine that, within yourself, there are actually several different traders, each of whom takes control of your account for a period of time each day. One or two of these traders are relatively astute; others are downright destructive. Your overall performance suffers as a result. As Chief Executive Observer of your own account, what should you do?

...If you harbor multiple traders within you--some careful, some impulsive, some successful, some losing--your first task is to avoid labeling these traders and instead take an Observing stance. You need to figure out why these lousy traders within you are trading! "

I seem to have a few traders in me who are lunatics....

Thanks for quoting this -- it's so very damn true.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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 mfbreakout 
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bobwest View Post
I seem to have a few traders in me who are lunatics....

Thanks for quoting this -- it's so very damn true.

Bob.


I also had multiple traders within me. I took care of them by getting out of Mickey Mouse, shorter time frame trades. I used to hold trades for 1 minute, 5 minutes, then 15 minutes, now avearge hold time is an hour or so. As i started getting away from smaller time frame trades lunatics kept disappering.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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KC is getting ready for a long set up.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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CL showing weakness right at the start of this week. What to do? No set up for me either for long or short yet.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Looking forward to trading Brazlian ETF today. Elections outcome on Sunday is not what market was looking for and everything in Brazial got hammered and will continue to get hammered till something changes. No longs just will be looking for shorts today and for rest of the week etc. unless something significant for bulls comes along.

" Ibovespa Falls 6.1 % in First Trading Day After Rousseff Win"



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 sandptrader 
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I stayed up late almost to London Open ...baby sitting a Trade on CL, could not keep my eyes open or chat any longer
so i placed a Stop far enough above, or was trying to be technical with it, and Target,,,and went to bed for 3 hours.
just wanted to post the Trade...it was only 29 Ticks...as i placed the Target just before yesterdays Low...wanted to make sure it hit.
and as i am typing i have missed another Short..

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 mfbreakout 
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Ignored RULE # 1 in NG and got reminded RULES OF THE GAME. Luckily, i knew i was ignoring RULE #1 so was cautious and thus no damage . This is how i test set ups and get confidence either by being proven wrong again and again or proven right again and again. This again and again excerise becomes uniquely yours and becomes a traders edge.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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" German Ifo Business Confidence Drops for Sixth Month" plus run up of US indicies of last week- is there a high probability of some pullback? One has to try to find out.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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mfbreakout View Post
" German Ifo Business Confidence Drops for Sixth Month" plus run up of US indicies of last week- is there a high probability of some pullback? One has to try to find out.

i can see you are finding out...or proving the possibility is real...

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 mfbreakout 
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" Which of the traders within you will have contol of your trading on Monday, Tuesday etc. "

I want this trader to be in CONTROL everyday for me.

1) Trade way below trading limit. Truly understand the impact of leverage for every set up.
2) Hold a trade till the context, evidence changes.
3) Do not imagine things- support here etc without evidence.
4) Do not be scared if trading within the trend that as an example Crude will reverse and take away all the gains. When CL, TF , NQ does reverse- it will be pretty obvious. It will not be hidden.
and many, many more wishes but these 4 ones are important.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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reshort TF. No longs.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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No longs in CL. Covered short around 79.85. Looking for shorts or longs around 80 to ORL area on pullbacks.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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qwertz2021
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What to trade today is SHORT exactly!

Until it comes back UP tomorrow... Have an idea of the general tendency someone: all are short for the next weeks here?

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 mfbreakout 
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No longs in CL. Covered short around 79.85. Looking for shorts or longs around 80 to ORL area on pullbacks.

Tried short 80.90 area but no go. Not sure what's underway but price action of CL is quite weak. I got too excited this morning and rest of the day as CL continued to find no buyers all day. I started day dreaming of 79 area getting taken out. Once CL just got stuck in a 40 ticks range , i started reducing position size from the short side for scratches, break even etc till i got to a position size i felt comfortable holding.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Weakness in Crude, mixed internals at best- short TF 1112 , add 1114 and 1116 area but no go. Was looking for 1108 area
as target.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Starting the day with CL.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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FEAR of unkown freezes a trader especially when mind starts playing games with the unknown. We start remembering as to what happened in similar situation. CL did not pullback from 130 ticks up move but from 200 ticks up move last time i tried to short. I had to endure 40 ticks of pain but today SOB only went up 130 ticks. That's why my premise always has been that within 200 ticks - anything can happen. Still holding some shorts. Not interested in longs til some proof of buyers show up. Price jumping 30- 40 ticks does not count as a sign of buying for me. I look at it as a FLY buzzing around ready to be smacked again. There is lot of randomness as far as a FLY pattern is concerned except sooner or later she will get smacked if she keep buzzing around instead of flying away.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Bounce into macro bearish trend plus exhausation bar combo. Short ZS.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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GREEN VS RED.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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" I look at it as a FLY buzzing around ready to be smacked again. There is lot of randomness as far as a FLY pattern is concerned except sooner or later she will get smacked if she keep buzzing around instead of flying away."



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Not sure as to why TF is up 2% so far on the day and ES, NQ, YM up around .60% so far.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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NG up 3%.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Everything up nicely and what majority of traders are doing? trading for ticks. They see high volume node here, low volume node there, a fib level here, a channel, a triangle and so on.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 ness1g 
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FEAR of unkown freezes a trader especially when mind starts playing games with the unknown. We start remembering as to what happened in similar situation. CL did not pullback from 130 ticks up move but from 200 ticks up move last time i tried to short. I had to endure 40 ticks of pain but today SOB only went up 130 ticks. That's why my premise always has been that within 200 ticks - anything can happen. Still holding some shorts. Not interested in longs til some proof of buyers show up. Price jumping 30- 40 ticks does not count as a sign of buying for me. I look at it as a FLY buzzing around ready to be smacked again. There is lot of randomness as far as a FLY pattern is concerned except sooner or later she will get smacked if she keep buzzing around instead of flying away.

Hi mfbreakout,
I could never endure 40 tics of pain.
There must be a different trading plan.
I'm sure you are working on one
How to identify a better entry point?
How to identify a valid pullback to enter at a smaller stop?
Would a smaller stop and reentry works?
I know you accepted a 40 tic retrace because that worked for you.
I'm still struggling on holding to a winning trade and still exiting too early.
Unless i learn how to hold on longer, I could never end up profitable on the long run.
I like to get better at that first.
Any recommendations?

Thanks,

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 mfbreakout 
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ness1g View Post
Hi mfbreakout,
I could never endure 40 tics of pain.
There must be a different trading plan.
I'm sure you are working on one
How to identify a better entry point?
How to identify a valid pullback to enter at a smaller stop?
Would a smaller stop and reentry works?
I know you accepted a 40 tic retrace because that worked for you.
I'm still struggling on holding to a winning trade and still exiting too early.
Unless i learn how to hold on longer, I could never end up profitable on the long run.
I like to get better at that first.
Any recommendations?

Thanks,

As we talked in the past, best thing any trader can do is not to take a trade unless CL has moved 130 to 200 ticks in one direction. Anything in between is noise and does not give a discretionary trader any edge. If you look at my posts you will see my best trades are after CL had moved 130-200 ticks. For example, short this morning around 81.40 area was after CL had moved from Globex low of 80.30 area. I have tried every thing under the sun for stop loss and for me it's 150 ticks after CL had moved 130-200 ticks. Traders worry about wide stop loss but i have not been stopeed out in a year since i starte dusing wide stop loss. Idea of a stop loss is to deal with an unusual event etc. In case an unusaul event comes, i just hit market order and get out. I don't sit around and see if stop loss gets hit.

Smaller stops, reentry etc comes into play when a trader is trading in the middle. Do not trade in the middle. If a trader had done ONLY one thing over last 5 weeks he would be smiling all the way to the bank. He should have shorted everytime CL bounced 130-200 ticks. Go back and look at chart over last 5 weeks. It should be pretty clear as to what was happening after CL bounced.



I will request Zakk to share his experience since he seems to be doing well.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Trade with the trend. I have not taken many longs over last 5 weeks. Smile, get happy as CL is bouncing and short the hell out of it because you will be trading with macro bearish trend.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 ness1g 
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For ness1g,

It looks so easy, now I need to find the guts to do it.
What are your thoughts when in a trade and 20 to 30 gain?
How don't you cash out like the rest of us

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 mfbreakout 
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ness1g View Post
It looks so easy, now I need to find the guts to do it.
What are your thoughts when in a trade and 20 to 30 gain?
How don't you cash out like the rest of us

If a trader wait for hours for his set up , why should he be in a rush to book profits? I do book 30-40 ticks when i can not wait and just get in the middle of a trade. Going in the middle i know i am mucking things up and get happy with whatever i can get.

But if i am shorting CL after it has run up 200 ticks, i want 100 ticks. Look at your charts and you will see it over and over again. As far easy part, it never is. It does becomes easier if a trader look at a trade as just ONE trade. It's not the end of the world. It used to be end of the world for me till it was not.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Everything in this video makes sense to me except tight stop loss. This is what i trade for everything. Stay out of the middle. What do all the indicators do? They get a trader to take a trade right in the middle most of the time.


NOTE: I am not a market profile trader. Market profile is not an indicator. The video shows the coceptual frame work for trading. You do not have to be a magician. Traders waste too much time looking at market/volume profile charts.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 alejo 
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Everything up nicely and what majority of traders are doing? trading for ticks. They see high volume node here, low volume node there, a fib level here, a channel, a triangle and so on.

some are trying to following you going for severals points

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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 ness1g 
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alejo View Post
some are trying to following you going for severals points

oops you caught me.
You very good you

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 mfbreakout 
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Who wants to trade with the trend? Trend based on 5 minutes, 15 minutes or 30 minutes. Anything smaller than 5 minutes is just noise and anything above 30 minutes requires giving up significant potential gains.
Trend is always determined by weekly/daily price action.

NOTE: One can use any MA or something similar. One type of MA does not have advanatge over the other except the ones which a trader has experience with.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Holding short in ZS from yesterday. What's the price of holding for potential big gains?



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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Good Morning mfbreakout....this looks really Good for following with intraday swings...i Appreciate the insight of
what you have posted.
CC and ZS charts.

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 mfbreakout 
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How about that thing called Crude? A certain type of price action happens on DOE report days between 9 -10.30 am eastern time. Basically a rotation glore, so will be flat before the news.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 ness1g 
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my take on TF

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 mfbreakout 
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How about that thing called Crude? A certain type of price action happens on DOE report days between 9 -10.30 am eastern time. Basically a rotation glore, so will be flat before the news.

Out 82.65 and looking for shorts.

Anything could happen per Ellie Goulding but in trading probabilities are pretty much defined within our time frame.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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Report soon at 10:30 EST- Crude Oil Inventories- forecast of 3.3 mil barrels

Actual was 2.1 mil barrels... it could head either way.....watching
went up, then back down to VWAP....Not sure what it wants to do.

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 mfbreakout 
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If after all said and done and after DOE news ORL is around 82 and price just does not want to go below it, what's the trade? On the flip side if price just keeps failing at ORH what will be the trade? CL is trying to take out some old resistance on the way up. It will go back and forth as she attempts to take out resistance on the way up especially on FOMC minutes pending news day.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Lot of tech names under pressure . FB got hammered down 7% after earning release last night. Market internals mixed at best. TF up 3% yesterday and straight up on weekly basis. We have FOMC minutes due today.

ORH is at 1153. What's the trade if a trader assumes rotational day till FOMC minutes?



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Shorts.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Number and millionaires-by-country-2000-and-2014





Happy trading.

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 mfbreakout 
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Holding short in ZS from yesterday. What's the price of holding for potential big gains?


Stopped out of ZS short. Now long. When these instruements move they move like there is no tomorrow.



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 mfbreakout 
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Plan for FOMC news.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Plan for FOMC news.

For Zakk and Alejo,



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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You banked Nicely on that one...
You had a another Awesome Day....

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 mfbreakout 
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My lady Crude " On the flip side if price just keeps failing at ORH what will be the trade? " . OR is not formed by accident.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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You banked Nicely on that one...
You had a another Awesome Day....

Traders who trade indicies like E-mini, NQ etc and like to thread a needle with all kinds of levels find it very difficult to trade commodities especially if they watch prices buzz all over their screen/dom etc. I have quite a patience but even i get tired trying to hold trades in GC, CC, KC , ZS etc. They dance to a totally different tune even though my set ups for everything more or less are the same.

I am surprised at muted sell off in GC. FOMC days are for 3-5% moves not this 1.4% move. Hopefully waterfall will continue during Globex session.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 sandptrader 
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My lady Crude " On the flip side if price just keeps failing at ORH what will be the trade? " . OR is not formed by accident.

What do you see on CL as far as Price Structure ....we are below VWAP with Divergence with one Leg Down= Impulse.

If we should Break Through Trend line...we are going Down based on what i see...but i could be wrong.
I need Conformation, and the Trend line would be convincing.

Although if 82 keeps holding i want get to find out....

Decided to do a Mickey Mouse Stop out before going to bed...my Larger Chart showing we are at a Crossroads so to speak with 2 Trend lines Intercepting where current Price is...so i tightened my stop based on smaller chart, and let it take me out.
I do not sleep well holding positions over night...maybe i can get use to doing that again one day.
Anyway +24 Ticks on that.....and will try again tomorrow.
CL did move another Leg down after Breaking through Trend Line, but i am not comfortable holding over night.Last Chart shows outcome.

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 mfbreakout 
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What do you see on CL as far as Price Structure ....we are below VWAP with Divergence with one Leg Down= Impulse.

If we should Break Through Trend line...we are going Down based on what i see...but i could be wrong.
I need Conformation, and the Trend line would be convincing.

Although if 82 keeps holding i want get to find out....


There are only 2 refrence points for me 83.20 area and 81.40 area. Price staying below 83.20 area i expect CL to rotate down. This means every time CL is in 82.70 to 83.20 area, I am shorting. Basically, I have 180 ticks range to focus on.I have not used VWAP. It will be nice if someone can share as to how they use VWAP.

High and low of DOE report days are the most important refrence points for the week. 83.20 is last week DOE high. CL can do only couple of things

1) Take out 83.20 and test higher levels.
2) Rotate down to 81.40 area. Once 81.40 or 83.20 area breaks, i look for next 150 to 200 ticks rotation area.

These are just ball park levels. 83.20 does not mean absolute level. I am short CL from 82.65 area. Covered some around 82 and holding the rest. Question always on my mind- if CL is rotating towards 81.40 area, how long it will take? What kind of bounces i should expect in between.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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" There are only 2 refrence points for me 83.20 area and 81.40 area. Price staying below 83.20 area i expect CL to rotate down."

Out flat 81.35 and looking for longs.



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 mfbreakout 
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" I am surprised at muted sell off in GC. FOMC days are for 3-5% moves not this 1.4% move. Hopefully waterfall will continue during Globex session."

GC is doing her thing.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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 mfbreakout 
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Missed short in PL. I will not recommend these trades for most traders as most traders can not hold and endure big intra day spikes till target is hit. Volatility of Crude in front of PL, PA looks like kiddy stuff and most traders can not handle Crude volatility to begin with.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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