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

  #311 (permalink)
Market Wizard
Dallas, TX, USA
 
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ratfink View Post
Thanks for this, just discovered Kindle Cloud reader, added it to Chrome and bought the book. In minutes. Fearlessly.


Cheers

Does it have text-to-speech option for android or kindle fire? I don't have kindle so thought would buy after I finish my existing books, so far I read very few, I should have started reading long before

Trade mindfully and trading in the zone, I really like both...I have yet to finish Trade mindfully though...

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  #312 (permalink)
Market Wizard
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grausch View Post
Pure speculation on my part, but I suspect Ed Seykota would override his systems whenever volatility got too high. Now, he trades long term trends, but the effects of heightened volatility are the same.
  1. Volatility presents a lot of opportunity if you are on the right side of the trend, but you better cut your losses fast if you are on the wrong side of it.
  2. A very volatile market makes it more likely that you will be stopped out even if you get direction right.
  3. To compensate for the additional risk of being stopped out, you could move your stops out further.
  4. Of course once your stops are further away, you need to scale back your size to get your risk back to its prior levels.
  5. With the smaller size, markets need to move further in order for you to make a decent gain with respect to your risk.

Based on the above, you can either trade same size with the same stop, but need to remember the pitfalls, or you can reduce scale back size and use wider stops. To me it just seems that trading in a high volatility environment just not justify the downsides. Of course, high volatility could precede a major crash and that represents the best opportunity to make a lot of money in a short amount of time, but unless you time it exactly right, you run an elevated risk of being stopped out or dying from death by a thousand cuts before the actual crash happens.

Excellent points, I was working last 3 to 4 months on developing a TREND following system based on 2 hr. charts and when I thought I am ready to trade overnight action became wild so I changed my time frame to DAILY for major swing holding and 25 mins for intraday, with my day job and other mundane activities I might not be able to watch the market all day so I started the idea of 2 hr system but I got to adjust once market context changed (I was expecting this increase in volatility after the rate hike but market fooled me last year by ignoring comfortably). Now, it looks like even 25 mins is not enough but I haven't' achieved that edge to completely throw out my bias and trade what is in front of me and change my opinion so quickly...maybe one day I will reach it till then struggle continues...

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  #313 (permalink)
Elite Member
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bmtrading9 View Post
Excellent points, I was working last 3 to 4 months on developing a TREND following system based on 2 hr. charts and when I thought I am ready to trade overnight action became wild so I changed my time frame to DAILY for major swing holding and 25 mins for intraday, with my day job and other mundane activities I might not be able to watch the market all day so I started the idea of 2 hr system but I got to adjust once market context changed (I was expecting this increase in volatility after the rate hike but market fooled me last year by ignoring comfortably). Now, it looks like even 25 mins is not enough but I haven't' achieved that edge to completely throw out my bias and trade what is in front of me and change my opinion so quickly...maybe one day I will reach it till then struggle continues...

I could never quite get my trend-following systems to work on anything other than daily charts. Somehow those were the only ones that kept me in the trade long enough for the winners to really work.

Understand exactly what you mean by the struggle - Greed got the better of me this morning and I added to my shorts right at the bottom...always nice to see monthly gains evaporate that fast...

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  #314 (permalink)
Market Wizard
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bmtrading9 View Post
Does it have text-to-speech option for android or kindle fire?

Sorry but I don't use either of those devices.

Travel Well
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  #315 (permalink)
Market Wizard
Dallas, TX, USA
 
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Futures Edge on FIO
Again no trades for me today, it's frustrating to see this and I miss them constantly...I do have a daily buy signal indicating trend might have changed to the upward...I am not able conentrate properly because of work and one final piece in my program is not working...Maybe I will get my act together very soon

Sent from my SAMSUNG-SM-G900A using Tapatalk

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  #316 (permalink)
Market Wizard
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Glad I didn't enter long yesterday, today I put a limit order to buy YM at 15780 with trailing limit of 100 points.

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  #317 (permalink)
Market Wizard
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bmtrading9 View Post
Glad I didn't enter long yesterday, today I put a limit order to buy YM at 15780 with trailing limit of 100 points.

Still order is there not confident but leave it there...INTERNALS are as bad, VOLSPD and CTICK hugging lows

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  #318 (permalink)
Market Wizard
Dallas, TX, USA
 
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bmtrading9 View Post
Still order is there not confident but leave it there...INTERNALS are as bad, VOLSPD and CTICK hugging lows

Cancelled my order looks like panic flush is coming before long weekend...

Edit: Hindsight I should have kept my order...ugghhh when will I get my edge back...


Last edited by bmtrading9; January 15th, 2016 at 12:57 PM.
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  #319 (permalink)
Market Wizard
Dallas, TX, USA
 
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Posts: 1,677 since Mar 2013
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Finally got courage to act...I sold mini DOW at 15845 and covered at 15814 not a great trade but I need something to close week positive...Next week plan it, put limit order, put trailing stop and forget it.

I still think dump is coming at today's end, this market is fooling everyone with this controlled selling and we are witnessing something big is about to unravel, have a nice weekend....thanks all for the support.

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  #320 (permalink)
Market Wizard
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Futures Experience: Advanced
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Posts: 1,677 since Mar 2013
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Week2


Not great but I am glad and thankful it's not red.

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