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TS' Trading Journal (Since 2014/9/8)


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TS' Trading Journal (Since 2014/9/8)

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  #101 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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One trade in SPY

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  #102 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Only one real trade in TWTR. Should hold for a 20+ ticks profit, exited because of fear.

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  #103 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Real trade in SPY, the following SIM trade is a continuation of the real trade

--------------------------

SIM trade in TWTR

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  #104 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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No trade today.

Good trade and good weekend to everyone!!

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  #105 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Three real trades in TWTR. A struggling day for me, but exp accumulated!

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  #106 (permalink)
 tshunhu 
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One real trade in TWTR, time to sleep!

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  #107 (permalink)
 tshunhu 
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Real trade in FB


Real trade in TWTR

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  #108 (permalink)
 tshunhu 
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Correction, post of yesterday should be 20140415


One real trade in FB, no trade in Friday, Good weekend to everyone!

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  #109 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Real trade in FB


Real trade in TWTR

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  #110 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Real trades in FB


Real trades in TWTR

Not a very good day considering improving trading skill, even with little profit. Should not trade if too tired.

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  #111 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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No trade for the rest of this week, good weenkend!




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  #112 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Real trade in SPY

in FB

in TWTR

Really a bad day, gave up almost all early profit at the trading range area, bad day for my performance, should learn from it!

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  #113 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Another struggling day, not point to post a messed up chart with plenty entries and exits....

Maybe some trades in Wednesday, no matter how's the result, stop trading till next week, really need some time to clear my mind.

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  #114 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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One trade in FB. No more trade this week, good luck and good weekend to everyone!

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  #115 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Two trades in FB, very low volume today, quiet market~~

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  #116 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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5 Scalping in FB

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  #117 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Too many trades today~~ Should trade in my normal size, and build confidence and learn skill with more patience






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  #118 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #119 (permalink)
 tshunhu 
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Good weekend!!

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  #120 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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No trade on Monday~~

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  #121 (permalink)
 tshunhu 
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Only one trade today~

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  #122 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #123 (permalink)
 tshunhu 
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3 trades in FB~

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  #124 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #125 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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Two trades in FB~

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  #126 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #127 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #128 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #129 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #130 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #131 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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No time to descripe detail, coming later with analysis of today and maybe tomorrow~

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  #132 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #133 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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No trades on Friday, good weekend!

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  #134 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #135 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #136 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #137 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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  #138 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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No trades in Friday, good weekend!

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  #139 (permalink)
 lux.lu 
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tshunhu View Post

Mind telling me why you had the long bias or what made you have the long bias? and what kind price action would have made you change your mind in that particular stock on that day?

Thank you.

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  #140 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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lux.lu View Post
Mind telling me why you had the long bias or what made you have the long bias? and what kind price action would have made you change your mind in that particular stock on that day?

Thank you.

3 reasons:
Price up in the previous days
Good shape bull bars at beginning
Potential double bottome at 23:15 area

On the other side, the price hadn't broken the trading range of prrevious day range, bull bars from the pullback (from 21:55) were weak. If I remember well, in bigger time frame, the price was far from MA, so the chance of another strong bull day was low.

I had this long idea before openning, the idea get strengthened by the beginning bull bars. The first two trades are scalps, but the 3rd one (23:30) was planned for a double top of openning high. It failed, I should exited early, but got weak mind.

Something it is just difficult to accept a failed trade, at least for me~~

Hope this helps. Where do you come from? which part of china?

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  #141 (permalink)
 lux.lu 
Australia Sydney
 
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My town is just couple of hours drive from WuHan, it is a small town Songzi, Jingzhou. are you currently living in WuHan or in the states?

Thanks for explaining your thought process for me.

I am doing a combine in topsteptrader.com, I have a journal detailing my trades only, don't have time for detailed record keeping so far, because Sydney is such an inconvenient place for trading US markets manually.

My exposure to trading is sporadic, it is an on and off relationship due to lack of success, and lack of right education, I would consider my experience in trading is still the beginner level.

I enjoy visiting your journal.

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  #142 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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lux.lu View Post
My town is just couple of hours drive from WuHan, it is a small town Songzi, Jingzhou. are you currently living in WuHan or in the states?

Thanks for explaining your thought process for me.

I am doing a combine in topsteptrader.com, I have a journal detailing my trades only, don't have time for detailed record keeping so far, because Sydney is such an inconvenient place for trading US markets manually.

My exposure to trading is sporadic, it is an on and off relationship due to lack of success, and lack of right education, I would consider my experience in trading is still the beginner level.

I enjoy visiting your journal.


Thank you~

I'm currently in Wuhan.

Me too, learning by myself, accumulating experience by placing good and bad trades.

Still long way to go~~ Let's keep in touch, and don't forget to tell me if you started a daytrading journal~~

Good luck!

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  #143 (permalink)
 tshunhu 
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It has been 18 months since my first trade in the market. Generally speaking, I'm satisfied with the result, making small profit in stock trading, some loss in future trading, making progress in both mental and skill aspect.

Despite the financial impact from trading, my personality has been reshaped by day trading and my view of the world has been influenced by trading too. I'll go to these abstract idea later when I re-do my trading plan.

After all these good and bad trades, all exciting and frustrating moment, and all the learning from futures.io (formerly BMT) + self study, I feel the need to reconstruct my trading plan, shape my own edge based on my own personality and experience.

The new trading plan contains a plan for both mental and skill aspect.

In the mental aspect, I'll try to recall my mental activities during my most impressioned trades. Based on these, I'll reconstruct the mental process and try to find out the way to avoid placing emotional trades. The whole idea is to help myself maintain a sober mind during trading hours.

The skill part will cover some basic rules that I tested in my experience, some indicators, patterns that I encountered. The idea is to provide an excutable plan with some detailed description to guide trading. I'll also write some key factors that I learned from exp and other aspects, so the combination of these factors would help me identify possible tradable opportunities.

I've already finished a hand writing draft, I'll reconstruct and put more description into it. The whole plan will be done on Friday at the latest.

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  #144 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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page 1/4


page 2/4


page 3/4


page 4/4

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  #145 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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1. Key words list

calmness - anxiety
decisive - hesitating
peaceful - stressful
exciting - frustrating
braveness - cowardly
fear - greed
flexible - stubborn
acception - rejection
prudent - revengeful

(to be added)

2. Negative mental activities(examples):
  • greedy, eagerness to make money from the market
  • hesitating before taking a trade, fear of loss
  • stressful when holding a losing position, only focus on praying rather than analysing the situation
  • frustrating after several consecutive losing trades
  • revengeful after taking a losing trade which later being proving right, but lose due to early exit
  • after a losing trade turns into a winning one, cowardly exit at break even or stubborn to hold till losing zone again.
  • rejection of a losing day
  • stubborn to take a with trend trade
  • anxiety before opening
  • anxiety and stress when paper profit shrinks before reaching profit target

3. Positive mental activities(examples):
  • confidence to correctly read the market
  • decisive to take a trade when setup formed
  • brave to accept a losing trade
  • prudent to take a trade when feel uncertainty
  • flexible to close a trade or reverse based on analysis
  • peaceful to hold a position, no matter win or lose, as the original analysis still being valid

4. Mental process in trading
  • Before a trade:
1)General Emotion: how was the day? anything outside trading bother? what's the expectation for today? does the performance from previous days have a influence? etc...
2)Bias: any incomplete analysis before openning? any news set your mind to long or short?
  • During a trade
1)losing position:
speed of loss: quick loss due to spike or slow paper cut with hope being destoryed bar by bar?
size of position: does the position size make the loss emotionally painful?
2)winning position
speed of win: spike win or slow trend win? any chance of adding position or take partial profit?
pullback: can I hold through the pullback? does the with trend traders show strong conviction?
distance to target: does the price pullback before reaching target? does it stall just few ticks from the target? Does my order get filled when price touched?
  • After a trade:
1)losing trade:
can I accept the loss, financially and mentally?
am I eager to cover the loss without any pause time from a losing trade?
can I wait a fixed time or the strong setup to occur before taking another trade?
2)winnning position:
the efficiency of winning is good? how many ticks I have covered in a trend of X points?
am I satisfied with the profit?
-------------------------mental process during a trade----------------------


It is just like driving, anticipate the possible track and movement of other cars on the road, see farther and wider than just the vehicules around you. Do not overspeed so able to handle any emergency without taking a catastrophic outcome.

5. Physical reaction under mental pressure
Breath - deeper and more frequently
Body position - twisted on chair
Body movement - stiff
Language - impatience
Brain activity - repeating worse case to make myself freak out

--> Possible solutions
1) define the worse case scenario before taking the trade(not the result but the worse mental situation)
2) define max pain (stop)
3) relaxing body exercise
4) put OCO orders and AFK for a while

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  #146 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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 tshunhu 
Wuhan, Hubei, China
 
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 tshunhu 
Wuhan, Hubei, China
 
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No trades today~

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 tshunhu 
Wuhan, Hubei, China
 
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  #150 (permalink)
 tshunhu 
Wuhan, Hubei, China
 
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1. key words list
buy, sell, target, proft, loss, scalp, swing, stop, performance, trend, trading range, choppy, continuation, breakout, pullback, confidence, pattern, strength, balance, indicator, probability, bounce, inside pattern, overlapping, trap, moving average, divergence, tick, market profile, triangle, point of pivot, resistance, support, bar shape, bar range, number of bars...
2. Time frame

The time frame makes great different in the way of trading, and it is a different between investor and trader.
Intraday time frames could be hourly, 30min, 15min, 10min, 5min, 3min, 1min. Once choose one time frame as trading platform, should not be attracted or influenced by the movement on the smaller time frame.

When searching trading opportunities, the smaller time frame contains more noise(relatively high percentage), also more opportunities, but it is super difficult to identify them in a small fraction of time. So focus on the opportunities on one timeframe, may use larger ones to identify market status and possible trend direction.

Also, trends in small timeframe could be trading ranges on larger timeframe, vice versa. So a spike + pullback or trading range pattern on one time frame could be profitable swing patterns in samll timeframe.

1)Market environment
For day trading, daily chart could be used to forcast possible intraday movement, like the trend direction, possible H/L, R/S levels, etc.

2)Trigger

Before openning ---> Key points ---> Possible outcome ---> Patterns on intraday timeframe

before openning, daily chart could release some possible key level or directional information like: R/S, trendline, daily chart pattern, MA, bull day or bear day... According to these information, a possible plan could be designed, once the market shows certain behavior at key level, the possible outcome could be formed during the day. The decision of which outcome to be true was based on the price action on key points. Also open to all possible market condition, as the market could be out of your imagination.


3)On trade
Once the price entered one possible situation, the objection of intraday trading is to decide wether the movement will continue to profit target, reverse or develop into other patterns.

4)Exit trade
>>Cool down (rest for several minutes before reenter)
>>Analysis
>>Search for recognisable opportunities rather than certain amount of profit (greed/unsatisfaction of profit)
3.Executable Plan

1)General Movement
-->Search for trading opportunites, analyse from larger to smaller timeframe.
-->Identify key points provided by bigger time frame --> possible range / position size / max loss / idea target
-->Prejudge: swing or trading range (possibilities of each)

2)Intraday Opportunity Search(swing)
-->Key point pattern / reaction
-->With trend entry (fade / jump into)
Few opportunites to catch a beginning of swing

3)Intraday Opportinity Search(scalp)
-->Momentum spike (not confident, need more exp)
-->Extreme of trading range
Many opportunites of scalp trade once market reminds in the range
4. Examples of tradable market pattern(intraday)
-->Swing pattern
1)Start point <---> Reversal pattern
Key level: R/S, Prior H/L, trendlines, round numbers
Pressure building: tails at top/bottom of several consecutive overlapping bars/micro double top/micro double bottom etc..

2)Continuation pattern
Pullback to: MA / Round number / Vwap bands / Start of spike or channel / trendline etc...

The pullback could be:
Quick <-- reach the point quickly and rebounce quickly, multi touch of key points but all fail
Slow <-- bad looking pulling back bars / overlapping / few or no breakout close / small bar size / large tails at one or both end.

Trading range: small range, pulling close the MA(on bigger timeframe)

Breakout pattern on larger timeframe: flag, converging triangle, wedge

3)Reversal pattern
= Start point +
Exhaustion of previous trend (overshoot, climax)
Not H1, H2, L1, L2, in strong trend (exception: double top/bottom)
2/3 bar reversal (strong reversal)

4)Stagnation / Pause pattern (temporary choppy movement before continuation)
-->often in reversal trends (existence of opposite trend before)
-->price reaches key level + false pullback/reversal (breakout pullback of trendline / stand above / below MA)
-->should not last very long
-->Scalp pattern
  • -->fixed extreme
  • -->bar close at extreme followed by opposite bar
  • -->bar close at middle
  • -->quick bounce at extreme
5. Summary & Reminder
--> General
Not many swing opportunities during one day (both start and continuation) --> Not over trade

-->Factors to watch over
Balance
  • Bar number
  • Bar size
  • Bar shape
  • Price movement
  • Boundries
  • Daily range
  • Synchronization with index
  • Always-in
  • Local time
--> Trade the tradablem leave the rest
--> Keep eyes in big time frame to find right direction of trend, keep mind sharp before entering a trade, once entered, keep original plan, especially for winning trade.

--------------------------------------
Some thoughts about life style and attitude will come later during the weekend~

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dragontrader
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tshunhu View Post
1. key words list
buy, sell, target, proft, loss, scalp, swing, stop, performance, trend, trading range, choppy, continuation, breakout, pullback, confidence, pattern, strength, balance, indicator, probability, bounce, inside pattern, overlapping, trap, moving average, divergence, tick, market profile, triangle, point of pivot, resistance, support, bar shape, bar range, number of bars...
2. Time frame

The time frame makes great different in the way of trading, and it is a different between investor and trader.
Intraday time frames could be hourly, 30min, 15min, 10min, 5min, 3min, 1min. Once choose one time frame as trading platform, should not be attracted or influenced by the movement on the smaller time frame.

When searching trading opportunities, the smaller time frame contains more noise(relatively high percentage), also more opportunities, but it is super difficult to identify them in a small fraction of time. So focus on the opportunities on one timeframe, may use larger ones to identify market status and possible trend direction.

Also, trends in small timeframe could be trading ranges on larger timeframe, vice versa. So a spike + pullback or trading range pattern on one time frame could be profitable swing patterns in samll timeframe.

1)Market environment
For day trading, daily chart could be used to forcast possible intraday movement, like the trend direction, possible H/L, R/S levels, etc.

2)Trigger

Before openning ---> Key points ---> Possible outcome ---> Patterns on intraday timeframe

before openning, daily chart could release some possible key level or directional information like: R/S, trendline, daily chart pattern, MA, bull day or bear day... According to these information, a possible plan could be designed, once the market shows certain behavior at key level, the possible outcome could be formed during the day. The decision of which outcome to be true was based on the price action on key points. Also open to all possible market condition, as the market could be out of your imagination.


3)On trade
Once the price entered one possible situation, the objection of intraday trading is to decide wether the movement will continue to profit target, reverse or develop into other patterns.

4)Exit trade
>>Cool down (rest for several minutes before reenter)
>>Analysis
>>Search for recognisable opportunities rather than certain amount of profit (greed/unsatisfaction of profit)
3.Executable Plan

1)General Movement
-->Search for trading opportunites, analyse from larger to smaller timeframe.
-->Identify key points provided by bigger time frame --> possible range / position size / max loss / idea target
-->Prejudge: swing or trading range (possibilities of each)

2)Intraday Opportunity Search(swing)
-->Key point pattern / reaction
-->With trend entry (fade / jump into)
Few opportunites to catch a beginning of swing

3)Intraday Opportinity Search(scalp)
-->Momentum spike (not confident, need more exp)
-->Extreme of trading range
Many opportunites of scalp trade once market reminds in the range
4. Examples of tradable market pattern(intraday)
-->Swing pattern
1)Start point <---> Reversal pattern
Key level: R/S, Prior H/L, trendlines, round numbers
Pressure building: tails at top/bottom of several consecutive overlapping bars/micro double top/micro double bottom etc..

2)Continuation pattern
Pullback to: MA / Round number / Vwap bands / Start of spike or channel / trendline etc...

The pullback could be:
Quick <-- reach the point quickly and rebounce quickly, multi touch of key points but all fail
Slow <-- bad looking pulling back bars / overlapping / few or no breakout close / small bar size / large tails at one or both end.

Trading range: small range, pulling close the MA(on bigger timeframe)

Breakout pattern on larger timeframe: flag, converging triangle, wedge

3)Reversal pattern
= Start point +
Exhaustion of previous trend (overshoot, climax)
Not H1, H2, L1, L2, in strong trend (exception: double top/bottom)
2/3 bar reversal (strong reversal)

4)Stagnation / Pause pattern (temporary choppy movement before continuation)
-->often in reversal trends (existence of opposite trend before)
-->price reaches key level + false pullback/reversal (breakout pullback of trendline / stand above / below MA)
-->should not last very long
-->Scalp pattern
  • -->fixed extreme
  • -->bar close at extreme followed by opposite bar
  • -->bar close at middle
  • -->quick bounce at extreme
5. Summary & Reminder
--> General
Not many swing opportunities during one day (both start and continuation) --> Not over trade

-->Factors to watch over
Balance
  • Bar number
  • Bar size
  • Bar shape
  • Price movement
  • Boundries
  • Daily range
  • Synchronization with index
  • Always-in
  • Local time
--> Trade the tradablem leave the rest
--> Keep eyes in big time frame to find right direction of trend, keep mind sharp before entering a trade, once entered, keep original plan, especially for winning trade.

--------------------------------------
Some thoughts about life style and attitude will come later during the weekend~


Great stuff! I really see myself in your post about being able to see the things that you need to change and improve on and which habits are negatively impacting your trading but feeling like there is a glass wall that your are looking through and keeping you from accessing that change. Emotionally it really hits me hard. I feel like I am so weak of an individual when I continue to make the same mistakes over and over again but am unable to break free from these negitive traits. Reading some of your posts actually got me a little teary eyed, I know it sounds silly but it is true. Again, I THANK YOU!

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 tshunhu 
Wuhan, Hubei, China
 
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 tshunhu 
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Here I want to put some thoughts about trading and lifestyle.

Even though I haven't developped a success career in trading, but I'm always comtemplating how to achieve. It is not about consistent profitable, but a peaceful mind in trading and a colorful life. The objective of trading includes making money out of the market. But I should always remaind myself that any financial success is the by-product of successful mind and life control.

For me, choosing trading as my favorable job is not only because of potential profit, but also about the mind training on the way to succeed in trading. I would not give up trading even I'm offered plainty of money for exchange, because the lifestyle includes more than being rich, but being disciplined, being honest to myself. This is so difficult to do. So many times I spoiled my own plan, violated my own commitement. The problem always comes out at unexpected moment. When I wanted to begin writing this thread, I opened Firefox to check twitter and FB. When I senced the market was about to change, I cann't close my losing position, can't help to reenter the trade which I missed big profit by exiting too early.

Everytime I make the same mistake I'm angry about myself, but refused unconsciously to change. The reason is that deep down inside my mind, I actually accept all these outcome, they all in my comfort zone. Even throught the result is not my intention, but the process of making them makes me feel good, unconsciously.

To some extent, I kwow what to do, what to change, but it takes a lot of mental energy to do. I'm going to review my ideal lifestyle by breaking it down to some factors and principals, hope this can help me become more and more disciplinary.

----------------------------------------------------------
Lifestyle: I think lifestyle is a main structure to organize daily activities towards a better self.
factors: time, energy, object, routine, distraction.

Some principals:
  • Energy is naturally distributed through out a day, but the distribution can be adjusted by oneself.
  • Everyday should contain an object, so energy and time can be allocated accordingly.
  • Routines include both bad and good habits, they form the main structure and outlay of my daily activities
  • Distractioin decorates daily life, can be bad or good. It demands stability to prevent a good lifestyle being influenced by distraction.
-----------------------------------------------------------
Should maintain a healthy lifestyle and be honest to myself, be disciplinary.
-->Set daily objective before the day (small, clear, measureable, timeline, margin)
-->Tract daily objective accomplishment (take note, review and adjustment)

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dragontrader
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I really enjoy reading your posts. They hit the nail on the head about how I also am feeling about my trading at times. I really enjoy reading your post about your struggles with discipline and I can relate. You have managed to put into words what I couldn't and that is pretty amazing. I have not read all your posts and I have only analysed a few of your trades so forgive me if I am wrong in assuming that you are attempting to scalp for most if not all of your trades. My question to you is why not try an other style of trading. Maybe scalping is not for you, or maybe the market you are trading is not for you and you should give another trading instrument a go. I might be worth considering. I lost 75% of a E-mini account I was trading about 10 years ago. I loose a lot less now that I just day trade stocks. Still working on breaking even but darn close so there is a light at the end of the tunnel. I think many of the people that read your post are routing for you, I know I am!

Good luck and good trading!

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 tshunhu 
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 tshunhu 
Wuhan, Hubei, China
 
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dragontrader View Post
My question to you is why not try an other style of trading. Maybe scalping is not for you, or maybe the market you are trading is not for you and you should give another trading instrument a go. I might be worth considering. I lost 75% of a E-mini account I was trading about 10 years ago. I loose a lot less now that I just day trade stocks. Still working on breaking even but darn close so there is a light at the end of the tunnel. I think many of the people that read your post are routing for you, I know I am!

Good luck and good trading!

Thank you Dragontrader, really appreciate your comments.

Yes, from the chart, I was doing mostly scalp, but believe me, that's not my real intention. Since you mentioned this point, I think it worth writing down some of my thoughts.

Sorry it's going to cover more than just response to your comments, me too, want to re-organize my thoughts.

One basic rule I've read from many trading books is: Profit = probability win * winning amount- probability loss * losing amount - commission/fee. Two facts here, possibility and amount.

Let me speak about my mistaking behavior pattern:

when I was in good mood, or mentally strong, I can make good judgement about the market movement. When I entered, once I hold a winning position, my desire of winning always forced me to exit as soos as some pullback occurs. So even during a strong trend, I cannot hold long enough, a swing trade turns into a scalp. Of course I'm not satisfied, but the market continues up, the eagerness to catch trend forces me to jump into the market. If the trend is strong or my second entry was not too bad, I'm again holding a winning position, so again may exited early. Even I intend to hold longer, we can imagine the further market moves in one direction, the pullback becomes stronger. Consequently, exited early again.

More often I exited early, stronger the desire of catch a real swing. When the market somehow really entered a trading range zone, I must holding a position consistantly changing from losing to winning and vice versa. I would not accept a scalp profit any more, I want a swing. Of course I cannot succeed, because the trend is dying. Then a possible winning scalp turns into a losing one, mood becomes angry at myself. If the market keeps chopping, it's ok, I may exited near B/E, if there is a deep pullback, I get frustrated. A scalp profit would be neutralized by a deep pull back. A day working for broker.

Ok, it takes thousands words but just one chart -->



For me, the possibility is much influence by my mental stability, so as the amount of winning and losing. So my main object is to force myself to get out of my comfort zone, break this vicious circle. Taking some losing trades or taking less profit definately is good price for that.

Of course, technical skill and experience matter a lot, but without mental stability, they cannot hold alone.

------------------------
About other instruments, I think the main problem is not there. Of course other instruments have different market behavior pattern. The key is in myself. I'm not able to fully control my mind yet, so I cannot and do not want to choose scalp or swing as my main trading style.

I think, of course, ideally, a completely self control trader with appropriate experience can trade most of instruments and under most market condition to achieve a good result. Then he/she may diversify trading style, choose one that fit more his/her personality or time schedule, choose others as complementary source of profit and experience.

Again, thank you for your comments!

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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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@dragontrader, like you said, trapped in a glass room, can see the bright future but no ability to reach yet~

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 tshunhu 
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No trades today

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 tshunhu 
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 tshunhu 
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Real trades in FB


---------------------------------

Sim trades in FB

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 tshunhu 
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 tshunhu 
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Nice job yesterday. You even rode through that little wiggle on your last trade. There you go!

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 tshunhu 
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No trades today, I caught a cold so badly. I think I just stay too long in a air conditioned room...

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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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No trades On Thursday and Friday~

Good trade to everyone + nice weekend !

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 tshunhu 
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 tshunhu 
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No trades today, price action in FB was not providing many chances I can take.

Keep watching, seems a pullback towards MA on daily chart is quite possible.

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 tshunhu 
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No trades in this week, have other things to deal with~

good trades and good luck and good weekend!

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 tshunhu 
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Probably no trades in this week due to other business~

Good luck to everyone!

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 tshunhu 
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Still have no time or energy to trade, at least for this week, probably the whole month of August (not sure)

I'll use this period of time to read some books about trading skills and mental skills~

Good luck!

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  #180 (permalink)
 tshunhu 
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Back to trading


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  #181 (permalink)
 tshunhu 
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  #182 (permalink)
 tshunhu 
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No trades today, got home late~

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  #183 (permalink)
 tshunhu 
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No comments today, still struggling in choppy day


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 tshunhu 
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------------------Before the content------------------
I want to add a new part in my trading journal, the new part is to analyse some intraday charts, try to describe what has happened, and try to identify the opportunities and traps in this particular day. Like what @bigmike has done on the thread of <The elusive price action>. The frequence of this analysis will be at least one by week during my trading days.

3 reasons for me to do this analysis:
One is to keep a peaceful mind in trading. Seeing the price move, account shrink and grow, bars turn red or green really gives me a strong sense of urgence. Not exaggerated, just a breath taking feeling. After a trading day is over, all these movement, up and down seems quiet and easy to interpret. A detailed analysis could provides another point to see the market, provides some feeling of control and most importantly an ease to interpret the market instead be led by the price.

The second is to accumulate a kind of experience and feeling. These feeling may turn into a specific trading system or they can help build a kind of intuition in trading.

The third is to help me overcome my weakness in trading, especially in mental strength. The problem of not letting profit run and cuting loss too late is common but difficult to deal with. For myself, sometimes I knew deeply that the trend would continue, consciously, but just feeling an urge to exit with profit. It's not only about trading techniques, but mostly mental issue. Same problem in trading range, just everytime naively believe this spike will make the price breakout the range, even though hundreds of times I've been proven wrong. But just cannot resist the eagerness to trade, do not want to abandon the hope of a final breakout.
------------------FB 20150903 5min chart------------------

  • Gap up open <-- maybe sign or bull strength
  • Got a high at the 3rd bar of today, but 1st and 3rd bar are bear ones, 2nd bar is a bull bar and outside bar, but no continuation <-- sign of two side trading <-- uncertainty
  • First 30min was choppy, but price has been brought downside, and the chopping is on the lower half of openning range <-- bears were in control
  • Down side breakout near 10:30, the range has been broken but there was no immediate continuation in this direction, instead, every Downsdie movement followed by bull bar, and the bull signs were week, just buying at the bottom but no continuation in slightly higer price. <-- bears were still in control but bulls were adding up with caution
  • Convergin downside wedge ended at 10:30, a 3 bar reversal pattern formed a spike broke out upside of the wedge <-- strongest sign of bull today
  • Weak channel up, a lot of indecisive sign, a one bar spike pushed the price to a LH. The leg up was made by 2 good shape bull bars and 4 overlapping bars <-- bulls were not strong
  • A leg down formed a HL, the leg was weak. The leg down was broken by a upside movement, the HL was a micro double bottom <-- HL, weak leg down, DB reversal --> sigh of bull strenght
  • Continuous bull bars (4 bars, good shape), 3 pushes to a HH, then came the bear leg down, the bear leg was not bad, continuous bear bars in good shape <-- the strengh of bull trend was waning, bear strength was building
  • Another upside movement at MA, then formed a double top. Sign of indicisive at the top, 2 doji bars, inside parttern. <-- point of decision, up or down, inside pattern provides good trading opportunites
  • Leg down, strong, moved to the 15min MA and VWAP area, the reversal to up leg was in good shape <-- bears were in control, but resistance found in 15min MA area
  • Leg up formed a LH, then a leg down formed a double bottom near 15:30, bulls took control till the eod.

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 tshunhu 
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I've been away for more than a year, I kept trading, so many things happened in trading and in my life. Now, I'm back to continue my trading journal in BMT. I'm going to trading a sim account in chinese commodity future market, and occasionally I'll trade US stock, FB my favorie, and others. As US market is open during the night time in China, I'll not be able to day trade everyday. It's really unhealthy to stay up late. I'll make up a trading plan for longer time frame by the end of the year. So day trading in China market and swing / investment in US market.

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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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 tshunhu 
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Soya-Been Oil


White Sugar

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  #198 (permalink)
 tshunhu 
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No revengeful Trading
Max daily lost
----------
After 3 years in trading, I finally have a deep enough understanding about risk control. It is an essential part to sucessful trading career.

the next important thing is about loss. I have known that loss is a part of this game, but I never truely know that loss is profit. Trying to avoid any loss will certainly cause the trader to miss profit. Taking every trade that indicated by the a winning system is necessary, any "smart" move will demage the performance of the system.

I'm not happy about the idea of a mechanical trading system, I know that most of successful traders have some own systems, and many of them begin with simple mechanical system. I also realize that it is not the only way to be successful, some good traders seem to rely on their improvisational judgement, which I think come from their experience.

I'm still working on this issue, try to figure out my own way of understanding these 2 different approaches.

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 tshunhu 
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SPY


FB

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  #200 (permalink)
 tshunhu 
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Sugar

Egg

Bean Pulp

Corn

Soya-Bean Oil

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