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TheTradeSlinger's Journey
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TheTradeSlinger's Journey

  #111 (permalink)
Elite Member
Huntington WV
 
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Not really trading today (or probably the rest of this week to be honest, getting up late is just so good), just wanted to get something on and see where the markets were at.

Got to the charts a few minutes before this trade, looked for the resistance to be broken and possibly test 31/32 area, took the trade and immediately thought I was being too cute with this trade (and even trading at all today) so I closed it out for a one tick profit.

Ignore the goal stats at the bottom, not really going after the goal today.

Can't wait to get started on TraderVue in the new year!

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  #112 (permalink)
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No trades today or tomorrow, won't be trading until Monday.

Can't wait for the holiday period to be over with and to get back to a regular trading schedule (that sounds horrible, but I mean it in a strictly trading sense lol).

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  #113 (permalink)
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TheTradeSlinger View Post
No trades today or tomorrow, won't be trading until Monday.

Can't wait for the holiday period to be over with and to get back to a regular trading schedule (that sounds horrible, but I mean it in a strictly trading sense lol).

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Maybe you should remove that cumulative goal line? I don't know if that line is motivating or demotivating you, but I can only assume it will add anxiety if it gets too far away.

I found charting this way to be less painful:

Average daily profit of the last 30 days vs your flat daily goal (200).

That way you can chart how well you are doing in the last 30 days in terms of hitting goals and your past performance doesn't kick you every day you look at it.

Alternatively you can set a goal that is more realistic based on the data, for example, a 90 day average of your daily return and your goal is to beat yourself in the past 3 months. Very satisfying when you manage to do it.

Hope that helps!

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  #114 (permalink)
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PeakGrowth View Post
I found charting this way to be less painful:

Average daily profit of the last 30 days vs your flat daily goal (200).

That way you can chart how well you are doing in the last 30 days in terms of hitting goals and your past performance doesn't kick you every day you look at it.

Alternatively you can set a goal that is more realistic based on the data, for example, a 90 day average of your daily return and your goal is to beat yourself in the past 3 months. Very satisfying when you manage to do it.

@PeakGrowth, thank you for sharing these ideas with me!

I will work on creating an excel sheet for both of those ideas. Maybe a weekly vs flat along with monthly vs flat?

I'm down for looking at my trading data every which way to try and learn from what I am doing, if you have any more ideas please share.

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  #115 (permalink)
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TheTradeSlinger View Post
@PeakGrowth, thank you for sharing these ideas with me!

I will work on creating an excel sheet for both of those ideas. Maybe a weekly vs flat along with monthly vs flat?

I'm down for looking at my trading data every which way to try and learn from what I am doing, if you have any more ideas please share.

I also used an execution spreadsheet, which graded myself on how well i followed my rules in and out.

so if i followed 7/7 i would get 100%, or 80% for 4/5

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Then you can filter out your trades based on execution score, for example if you find a higher execution score is correlated with a better expectancy, then you know your rules are working and your goal is to improve your execution score and profits will follow. This should shift your focus to having good execution day after day, rather than trying to hit goals (which just can't be hit sometimes due to markets being the way they are). This is a good way to quantify your execution performance.

The sheet also helps you keep track of how many trades you've done a day so you don't overtrade. You can get it to go red if you've done more then x amount of trades a day and you have a flag telling you to stop.

Hope that helps.

Cheers

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  #116 (permalink)
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PeakGrowth View Post
I also used an execution spreadsheet, which graded myself on how well i followed my rules in and out.

so if i followed 7/7 i would get 100%, or 80% for 4/5

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Then you can filter out your trades based on execution score, for example if you find a higher execution score is correlated with a better expectancy, then you know your rules are working and your goal is to improve your execution score and profits will follow. This should shift your focus to having good execution day after day, rather than trying to hit goals (which just can't be hit sometimes due to markets being the way they are). This is a good way to quantify your execution performance.

The sheet also helps you keep track of how many trades you've done a day so you don't overtrade. You can get it to go red if you've done more then x amount of trades a day and you have a flag telling you to stop.

Hope that helps.

Cheers

Lots to think about and work on.

Thanks again @PeakGrowth, I should have something by Sunday night.

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  #117 (permalink)
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Couldn't resist.

Quick little order flow pop targeting one tick just to have something on today.

Looking forward to some real trading next week and into the new year.

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  #118 (permalink)
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I'm getting more and more consistent with the PnL, and a touch better with the entries and exits.

The context for today was gap fill either 49 or 36 and I was receptive to both.

The first and second trade were both order flow trades looking for the gaps to be potentially filled, but I realized on both that I was selling/buying at support and resistance AGAIN lol so I closed those out.

The third trade is the one I am most proud of, not for holding the trade obviously, but for not taking it short at support again. I was looking for the lows to be taken out and I put on the short a few points above looking for that target. Closed it out way too early, but I am gaining confidence in what I am doing and my reads and will keep on inching up the hold times.

Fourth trade was the "looking for the gap fill" order flow short, but wow did I short at support again! 41ish was the proper short location (previous support turned resistance).

Thinking over the weekend about my trading, it seems that I have been "trained" to cut winners early due to taking the majority of my trades at poor locations (shorting support and buying resistance) as these trades most of the time pop or drop only a few ticks and then reverse on me. I need to start executing at better locations to allow my trades to run.

Going to keep working on better entries and exits this week.

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  #119 (permalink)
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No trading today, got to the charts late and didn't want to push anything too late in the day on a tight range day.

Almost bought the breakout at 72ish, but decided against it (not buying R again), the real entry long was at the first test of support (pink line).

Traders at their charts earlier in the day may have played the ascending triangle, probably the best set up of RTH today.

Let's see what tomorrow brings.

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  #120 (permalink)
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No trades so far today, surprised we didn't test lower on the 2nd touch at 61s.

COME ON NEW YEAR!!!!! Let's get back to trading.

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