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Tap In's Corner
Started:November 23rd, 2014 (09:08 PM) by Tap In Views / Replies:34,194 / 839
Last Reply:October 13th, 2016 (09:57 AM) Attachments:1,597

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Tap In's Corner

Old December 4th, 2014, 10:26 AM   #31 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
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Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary

Missed a doozy right out of the gate trying to work the order instead of hitting market

Trade 1: caught tail end. +14t

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Old December 4th, 2014, 11:05 AM   #32 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
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Trades 2, 3, 4 one in gold two more in CL

+9t
0t
-10t

Missed two best trades of day. Figures

+13t on day so far. Proud of myself for hitting the button

Attached Thumbnails
Tap In's Corner-2014-12-04_gc_trd_1.png   Tap In's Corner-2014-12-04_cl_trd_2.png   Tap In's Corner-2014-12-04_cl_trd_3.png  
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Old December 4th, 2014, 11:09 AM   #33 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary


If I was a set-it-and-forget it trader I'd be -60t right now instead of +13t. Until I see more of my trades get to target I'm going to be a serial trade manager.

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Old December 4th, 2014, 11:54 AM   #34 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary

Trades 5 and 6 in NG after inventory

Not one of my trades has followed through this morning. I seem to be on the wrong side of the market today and avoiding the best trades. Bright side is, I am taking trades. I have to remind myself that on some days those 6 trades would be +180t

6 trades, back to 0t on the day.

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Tap In's Corner-2014-12-04_ng_trds_1_and_2.png  

Last edited by Tap In; December 4th, 2014 at 12:05 PM.
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Old December 4th, 2014, 12:35 PM   #35 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary

Futures Edge on FIO
8:30 Efficiency ratio update. I am actually going to start calling it the Courage Ratio:

Trades taken: 6, 0t
Should have taken: 3, potential +50t
Courage Ratio: 6/9 = 67%

Better!

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Old December 4th, 2014, 05:32 PM   #36 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary

Trades Taken: 6, 0t
Should have taken: 4, potential +85t
Courage Ratio: 6/10= 60%

Today was good news bad news. Good news is that I really improved on my Courage Ratio (formerly efficiency) by taking 6 out of a possible 10 trades that I identified as reasonable risks. This was one of my major areas of focus, so in that sense today was a winner. They were all taken before 8:30

The bad news is that the trades I took went nowhere while the trades I passed on had potential +85 ticks. I need to evaluate whether this was just a coincidence and bad luck, or if there is something fundamentally different about the trades I skip vs the trades I take.

Of the 6 trades I took, the average movement in my favor was 10.5 ticks, with the largest being +28 ticks.

Conversely, the average movement against me was -34 ticks, with the largest being -75t.

It is a miracle I only lost commissions. It's going to be hard to make money if these are the type of entries I choose to take.

In any case, I am happy for the improved Courage Ratio.

Tomorrow continue to focus on:

-Taking early trades
-A good courage Ratio
-Mindfulness of thoughts and feelings during the moment of truth
-Be ready to trade a runner

Attached Thumbnails
Tap In's Corner-2014-12-04_cl_summary.png   Tap In's Corner-2014-12-04_gc_summary.png   Tap In's Corner-2014-12-04_ng_summary.png   Tap In's Corner-2014-12-04_nq_summary.png  
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Old December 4th, 2014, 09:43 PM   #37 (permalink)
Elite Member
asheville north carolina USA
 
Futures Experience: Beginner
Platform: ATC trader (OEC white label)
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Tap In View Post
8:30 Efficiency ratio update. I am actually going to start calling it the Courage Ratio:

Trades taken: 6, 0t
Should have taken: 3, potential +50t
Courage Ratio: 6/9 = 67%

Better!

I like the "courgage ratio"! I am going to start keeping track of mine.

I have hesitation issues due to past experience.

The courage ratio will be a good way to quantify and gauge my problem/progress.

Tear down the wall.

Thanks for posting!

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
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Old December 4th, 2014, 10:26 PM   #38 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary


bourgeois pig View Post
I like the "courgage ratio"! I am going to start keeping track of mine.

I have hesitation issues due to past experience.

The courage ratio will be a good way to quantify and gauge my problem/progress.

Tear down the wall.

Thanks for posting!

You will be amazed at how the act of tracking your Courage Ratio will almost compel you to take the next good trade you see/feel.

Good luck!

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Old December 5th, 2014, 10:15 AM   #39 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary

Three trades, three losers right off the bat. -38t . My Courage Ratio is going to be tested today.

Method not working today. If this were real money I would probably have to call it quits. Since it is sim I will keep testing.

Note: 2nd chart should read "retrace"

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Tap In's Corner-2014-12-05_gc_trds_1_and_2.png   Tap In's Corner-2014-12-05_ng_trd_1.png  
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Old December 5th, 2014, 12:42 PM   #40 (permalink)
Market Wizard
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,060 given, 1,846 received
Forum Reputation: Legendary


Not a good day for the kid

Trades 4, 5, 6, 7. One trade made it to target. The others failed spectacularly. Early exits have saved me in 100% of cases from greater losses.

Passed on a couple CL trades that worked beautifully. Didn't even mark them as "should have" because risk would have been too much

one "should have" trade not taken.

Courage Ratio:
actual trades 7
Should have trades: 1
7/8 = 87%

-45t on the day so far.

Attached Thumbnails
Tap In's Corner-2014-12-05_nq_trd_1.png   Tap In's Corner-2014-12-05_ng_trd_2.png   Tap In's Corner-2014-12-05_cl_trd_1.png   Tap In's Corner-2014-12-05_cl_trd_2.png  
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