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My journal to trade by understanding market's processes and behaviors


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My journal to trade by understanding market's processes and behaviors

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  #101 (permalink)
Madrid Spain
 
Experience: Intermediate
Platform: Ninjatrader, TOS
Trading: ES
 
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Posts: 247 since Oct 2014
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erobertsonag View Post

Is my assumption around my 8 ticks risk vs the 13 ticks pivot comment on my chart any good ?



er

He usually says to put a stop 1 tick above the signal bar, and if the stop is too large to enter on a limit order at a better price. Anyway, the larger your stop, the better your winning % must be, since every looser will wipe out 2 or 3 winners.

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  #102 (permalink)
Gatineau Quebec Canada
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Stocks
 
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Posts: 107 since Aug 2014
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Hi all,

On Tuesday of this week I did play April 1st in replay. It took me up to today to get back and review my trades. I have so much difficulties being rejected by bad trading days ... I am always accusing myself of trying to bercome a professionnal trader, I am hard on myself, I have to find a way to forgive me ... But I am glad, I am still with the same methodology, I like it, it does challenge my brain each time I trade, I have to figure out the channels or the support/resistance areas. It if my 4th practice session in a row and zero change in my trading plan. Thanks Malthus for your answer for my question around the stop. I got 4 full size loss and 1 half size gain ... Here they are:





Trade 1 comments: I knew from the beginning that this trade would not work because it did a nice 2 legged down move and usually it moves in pair so expecting a 3rd leg was not really in my favor. I knew it but I took it any way.

Trade 2 comments: From trade 1 I learn and I did adjust pretty quickly and change my side for the long side. I had a nice range coming from the bottom (I was expecting the range to brake higher) and decided to take a kind of breakout pullback long. My not properly apply stop rule got me out on that on too. With the proper stop management (as mention by Malthus) I would have got a winner here.

Trade 3 comments: First of all, I am pretty sure that my channel is totally not good for trade 3 and 4. I beleive now that the spike around 14:55 was actually the break of the previous small downward channel. Anyways, I will review that with the video. I tough it was another breakout pullback short and for some reason I believe that on breakout pullback pattern you have to be quick and get into the 1st entry which I did. Stopped out.

Trade 4 comments: I kept my courage and got into the 2nd entry thinking I was just too quick on entry one. And again, like with trade 1 I was seeing a megaphone type of pattern and usually those pattern leads to reversal (please correct me here if anybody disagree), not continuation but I took the trade on the short side anyway ... :-(

After that I was discourage. It took me some time to review and re-open my computer. Also, I did notice that I was totally inside the overnight high and low which is the signal of a range day. My plan is to review the video and replay that same day and see if at least with knowing the answer I can trade properly ...

Many thanks all,

er

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  #103 (permalink)
Gatineau Quebec Canada
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Stocks
 
erobertsonag's Avatar
 
Posts: 107 since Aug 2014
Thanks: 69 given, 78 received


Hi all,

Before watching Mack's video I decided to perform an auto evaluation. This will help me correct myself and help me to correct my own correction ... Here is how I see the afternoon of April 1st after the fact:



The comments are directly on the chart and right here as well :

The gray trend lines were the lines that I was seeing while trading

The first red channel is the channel I did draw at trade time but changed it to the gray channel after during trading. I do now believe that the red channel was the good one

I did see the green range at trading time and I still believe it is valid

I was not seeing the second red channel at trading time. It is obvious but I had lost a lot thinking power after the 2 first trade that went against me. I also believe that the grey channel
is wrong because of the poor pivots on the low limit

I was seeing the green megaphone at trade time but I was seeing at the same time the bad gray channel. Instead of being careful since I was seeing contradiction patterns I went
with the channel only. This was a poor decision that ended my trading practice

The orange support and resistance line is totally after the fact lines. I was not seeing these lines at all during trading.

I know I am repeating myself here but I want to thanks Malthus again. I read your comment at a moment that I was hurt big time after a not so good trading practice and your answer to my question did made a huge difference in my emotional state, it gave me back the strength that we need to pursue our goal. The answer was very helpful but it is the presence of your post in my journal that made the biggest impact on me. Tx again

My next step is to watch Mack's video so I do now have a 3 step process while reviewing a trading session:

1- Showing the trade at trading time
2- Auto correction of the said trading session
3- Correction of the previous 2 steps after reviewing the video

I will post for each of these steps.

Good Saturday all,

er

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  #104 (permalink)
Gatineau Quebec Canada
 
Experience: Intermediate
Platform: Sierra Chart
Trading: Stocks
 
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Posts: 107 since Aug 2014
Thanks: 69 given, 78 received

Hi all,

I did not post for a long time and this is because I did put my trading on the side since my last post. I do not feel like missing anything of it, and actually, I do feel a lot less stressed and less anxious. I decide to study web development (HTML, CSS, javascript, Bootstrap, xml, php and MariaDB/MySql) as a new challenge. I was a VB programmer in the past and an Oracle admin. I want to get knowledge in open source related languages and databases and get into web dev. I do still work as a Land Surveyor but I want to be ready to get back into programming for the month of November which is the date that the person I do replace will come back (after maternity leave).

I would like to thanks Malthus and Big Mike for their support, it was a really appreciated for me, each time I did received a note or even a thanks, it was very helpful and encouraging.

I am not closing the door completely but an activity should not add stress on your shoulder, which was the case for me.

Tx again all,

er

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  #105 (permalink)
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Manta, Ecuador
 
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erobertsonag View Post
Hi all,

I did not post for a long time and this is because I did put my trading on the side since my last post. I do not feel like missing anything of it, and actually, I do feel a lot less stressed and less anxious. I decide to study web development (HTML, CSS, javascript, Bootstrap, xml, php and MariaDB/MySql) as a new challenge. I was a VB programmer in the past and an Oracle admin. I want to get knowledge in open source related languages and databases and get into web dev. I do still work as a Land Surveyor but I want to be ready to get back into programming for the month of November which is the date that the person I do replace will come back (after maternity leave).

I would like to thanks Malthus and Big Mike for their support, it was a really appreciated for me, each time I did received a note or even a thanks, it was very helpful and encouraging.

I am not closing the door completely but an activity should not add stress on your shoulder, which was the case for me.

Tx again all,

er

I applaud you for the decision. A lot of people can't make such a smart decision.

Trading is not for everyone. In fact, trading is for virtually no one (unless you enjoy pain and misery). It's one of the most emotionally demanding and financially stressful jobs in the world.

Enjoy your new endeavors!

Mike

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