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A Cowboy's Trading Journal
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A Cowboy's Trading Journal

  #221 (permalink)
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bmtrading9 View Post
..we have to wait and see which one will give up...I am trying to position myself for sharp up and immediate sell off.

Sounds like a wild roller coaster. Don't forget your seatbelt!

Be careful and good luck.

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  #222 (permalink)
Market Wizard
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As expected I got a sharp up, let's see if we get a sharp down, doesn't look like that but let's see...

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  #223 (permalink)
Market Wizard
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bmtrading9 View Post
As expected I got a sharp up, let's see if we get a sharp down, doesn't look like that but let's see...

Ok...got sharp up and down, what now? price is recovering nicely which is not what I want...I will go flat if price closes above 2075 (last weeks high).

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  #224 (permalink)
Market Wizard
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bmtrading9 View Post
Ok...got sharp up and down, what now? price is recovering nicely which is not what I want...I will go flat if price closes above 2075 (last weeks high).

Still freaking short, not liking it at all...probably give another day...I had nice opportunity to go flat at lows but the news event I got to move the market was there, initial reaction was in favor of short term pull back but didn't happen, I kind of surprised at everything now...don't know...just hit buy and close my eyes looks like that's the only way now...let me see tomorrows action and see...

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  #225 (permalink)
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bmtrading9 View Post
Still freaking short, not liking it at all...probably give another day...I had nice opportunity to go flat at lows but the news event I got to move the market was there, initial reaction was in favor of short term pull back but didn't happen, I kind of surprised at everything now...don't know...just hit buy and close my eyes looks like that's the only way now...let me see tomorrows action and see...

I have to say, you really need some tough love @bmtrading9.

I hate to do this to you, but I think it's for your own good. If I don't do it, you are going to blow your account!

Unleash the @tigertrader

@tigertrader, some people despise you for being brutally honest, but I know your intentions are good. Sometimes being brutally honest is exactly what people need, a wake-up call. @bmtrading9 needs serious help and I tried before, and failed, to get through to him.

Can you help?

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  #226 (permalink)
Market Wizard
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Big Mike View Post
I have to say, you really need some tough love @bmtrading9.

I hate to do this to you, but I think it's for your own good. If I don't do it, you are going to blow your account!

Unleash the @tigertrader

@tigertrader, some people despise you for being brutally honest, but I know your intentions are good. Sometimes being brutally honest is exactly what people need, a wake-up call. @bmtrading9 needs serious help and I tried before, and failed, to get through to him.

Can you help?

Mike

Yes, please bring it on. Maybe I need hundred whiplashes or more than that...My thinking was right regarding Russel, I entered the trade and exited afterhours thinking can enter later...regarding ES short I thought news event will kick it towards downside, it happened but immediately reversed...by looking at the chart I ask same question again and again how can one be long here and everytime market proves me why not..what if I enter long and market reverses? What if my original plan is right? These questions keeps haunting me...I am sure lot of people went thru this...anyway please help.

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  #227 (permalink)
Market Wizard
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Here is little personal background about me

I am a successful software architect earning some six figure salary, with equally successful spouse earning around six figure salary so financially I am stable with two kids (they take up my morning time so can't be around for open)...

I am of Indian origin, studied Bachelor of Science myself i.e self studied and cleared examinations myself, suffered alot during that period because I got very little help/guidance...I am one of the very few to pass that examination. Then I moved to US got a scholarship to study my master and finished my masters, got job etc.

The reason I am telling all this is maybe something is wrong physiologically...

I was buy low and sell high guy, I had not that much success initially around 2007 so left investing etc. then came 2008 crash and I bought all bank stocks and held on to every single one of them until that flash crash, that changed everything for me deep deep inside I am terrified that might happen to me again, then got introduced to shorting/options then to futures...again because of my mentality of buy low I got burnt with oil and left it. So this year I promised myself never ever short so what I did bought ES around 2060 when it dropped from ATH's then after holding because BTFD working all these years and suddenly it stopped working on Aug 24th by that time I was in loss on my long and couldn't get out quickly and reverse the position...again memories of flash crash in front of my eyes....

These are my BIGGEST PROBLEM's what I think are

1. I do my analysis and all then somehow miss the entry and price moves away from me too far (or I let it go too far) then I will start thinking about reversal so what do I do? take opposite position and keep holding. For example yesterday I did my analysis on Russell and entered a long position at proper entry and get out for few points and never entered again because price moved away from me too much and of course FED day.

2. I guess I am good in finding bottom rather than top so I just need to stop looking for top/reverse.

Anyway thanks for taking time and trying to educate and help me...I am prepared to do ANYTHING to fix my trading...

I don't like to watch tick by tick it is making me to make bad decisions one after another.

Swing trading - I enter a position if I am underwater my thought process would be I have time so give my position some time and start looking for confirmation bias, like charts, twitter etc...and keep holding it. If I am good with position then I close is early to see price moves in my direction and cannot buy it back because price is too high and I look for reversals...


Last edited by bmtrading9; October 28th, 2015 at 07:28 PM.
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  #228 (permalink)
Market Wizard
Dallas, TX, USA
 
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I started reading book THE DISCIPLINED TRADER by Mark Douglas. I exited my short at 2076 and entered long bcoz price is unable to close below below previous weeks high but looks like I am going to get stopped out, but that should be fine...anyway looks like I can't find context, l can't trade long or short because I am always fearful, can't reverse quickly and always my stops get hit bcoz of small stops, if I go for wider timeframe market pulls away so much then my timeframe keeps increasing in a hope that price will get back...that's my issue in a nutshell.

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Last edited by bmtrading9; October 29th, 2015 at 08:16 AM.
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  #229 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
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Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

But I am going to do whatever it takes to get this thing right because I am capable of doing it If not I wouldn't be in this position in my life.

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  #230 (permalink)
Elite Member
Vancouver Canada
 
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bmtrading9 View Post
... l can't trade long or short because I am always fearful, always stops get hit bcoz of small stops, if I go for wider timeframe market pulls away so much then my timeframe keeps increasing in a hope that price will get back...that's my issue in a nutshell.

I don't have enough experience to suggest what you should do to improve your trading.

However, I will say this. (which I said few weeks ago)

You are very emotional. That often means your position size is too big and out of your comfort zone.

Cut down to a size where you feel 'almost' don't care about the outcome. For me it's 100 SPY. Find out your number. Good luck.

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