A Cowboy's Trading Journal - futures io
futures io futures trading



A Cowboy's Trading Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one bmtrading9 with 726 posts (925 thanks)
    2. looks_two Inletcap with 28 posts (82 thanks)
    3. looks_3 Blash with 20 posts (44 thanks)
    4. looks_4 bobwest with 15 posts (36 thanks)
      Best Posters
    1. looks_one Inletcap with 2.9 thanks per post
    2. looks_two bobwest with 2.4 thanks per post
    3. looks_3 Blash with 2.2 thanks per post
    4. looks_4 bmtrading9 with 1.3 thanks per post
    1. trending_up 76,431 views
    2. thumb_up 1,324 thanks given
    3. group 29 followers
    1. forum 893 posts
    2. attach_file 273 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

A Cowboy's Trading Journal

(login for full post details)
  #301 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

No trades yet, something is wrong with because I am trying to get that perfect entry and not realizing trading is all about probabilities...Only good thing is I am able predict the direction and stay away from going against it but bad thing is not able to profit from my knowledge...this week I might not be able to reach my goal.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #302 (permalink)
Market Wizard
Memphis TN
 
Experience: None
Platform: ToS
Broker: TDA
Trading: None
 
Pariah Carey's Avatar
 
Posts: 899 since Jan 2014
Thanks: 154 given, 2,733 received


bmtrading9 View Post
No trades yet, something is wrong with because I am trying to get that perfect entry and not realizing trading is all about probabilities...Only good thing is I am able predict the direction and stay away from going against it but bad thing is not able to profit from my knowledge...this week I might not be able to reach my goal.

No such thing as a perfect entry. Just get in where you get in and if it's not where you wanted say f### it and drive on. Always be moving forward. Times like this, with all this volatility and movement, you have to exploit. This is where you fatten up for lean times.

Money make ya handsome
Reply With Quote
The following 3 users say Thank You to Pariah Carey for this post:
 
(login for full post details)
  #303 (permalink)
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
ratfink's Avatar
 
Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,402 received


Pariah Carey View Post
No such thing as a perfect entry. Just get in where you get in and if it's not where you wanted say f### it and drive on. Always be moving forward. Times like this, with all this volatility and movement, you have to exploit. This is where you fatten up for lean times.

Indeed, but I'd say it's just as important to survive days like these so that we can be around to profit from the steady days that occur a hundred times more often.

Travel Well
Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to ratfink for this post:
 
(login for full post details)
  #304 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


ratfink View Post
Indeed, but I'd say it's just as important to survive days like these so that we can be around to profit from the steady days that occur a hundred times more often.

Funny and worst part is I wanted these kind of volatility when it was not there and when it comes my brain freezes.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #305 (permalink)
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
ratfink's Avatar
 
Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,402 received


bmtrading9 View Post
Funny and worst part is I wanted these kind of volatility when it was not there and when it comes my brain freezes.

Sent from my SAMSUNG-SM-G900A using Tapatalk

You and me both.

Travel Well
Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to ratfink for this post:
 
(login for full post details)
  #306 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

https://www.emilialahti.com/2015/12/29/why-we-fear-hypponen

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #307 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

https://www.forbes.com/sites/brettsteenbarger/2016/01/11/living-fearlessly-by-facing-our-fears/

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #308 (permalink)
Luxembourg, Luxembourg
 
Experience: Advanced
Platform: TWS
Broker: Interactive Brokers
Trading: Stocks
 
Posts: 491 since May 2012
Thanks: 1,641 given, 1,149 received


bmtrading9 View Post
Funny and worst part is I wanted these kind of volatility when it was not there and when it comes my brain freezes.

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.

Reply With Quote
The following 5 users say Thank You to grausch for this post:
 
(login for full post details)
  #309 (permalink)
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
ratfink's Avatar
 
Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,402 received


bmtrading9 View Post
Why We Fear ? The Sisu Lab

Sent from my SAMSUNG-SM-G900A using Tapatalk

Thanks for this, just discovered Kindle Cloud reader, added it to Chrome and bought the book. In minutes. Fearlessly.


Cheers

Travel Well
Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to ratfink for this post:
 
(login for full post details)
  #310 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Wow! What a reversal wish I would have been infront of my computer but I am waiting on daily signal to get confirmed on this move, it seems if we close above 1905 on ES it will get confirmed let me see...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #311 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


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...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #312 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


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...

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #313 (permalink)
Luxembourg, Luxembourg
 
Experience: Advanced
Platform: TWS
Broker: Interactive Brokers
Trading: Stocks
 
Posts: 491 since May 2012
Thanks: 1,641 given, 1,149 received


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...

Reply With Quote
The following 2 users say Thank You to grausch for this post:
 
(login for full post details)
  #314 (permalink)
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
ratfink's Avatar
 
Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,402 received


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
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to ratfink for this post:
 
(login for full post details)
  #315 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

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

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #316 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Glad I didn't enter long yesterday, today I put a limit order to buy YM at 15780 with trailing limit of 100 points.

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #317 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


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

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #318 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


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...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #319 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

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.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #320 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

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


Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #321 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

One thing I noticed is I am loosing my focus and attention during trading day because of my urge to finish tweaking the method etc. so this week my focus would be just concentrating on entries. Anyway I was able to put alerts on server side in TOS this weekend I have to see now if I get proper alerts to my email/text.

Also, I noticed all my intra-day calls are spot on but couldn't act on them because of fear because previously that's what got me in trouble i.e acting on my intra-day calls and couldn't reverse quick enough and ending up the holding a much bigger loosing position.

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #322 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 6,259 since Jan 2013
Thanks: 47,734 given, 21,007 received


bmtrading9 View Post
Also, I noticed all my intra-day calls are spot on but couldn't act on them because of fear because previously that's what got me in trouble i.e acting on my intra-day calls and couldn't reverse quick enough and ending up the holding a much bigger loosing position.

I definitely understand that issue.

But as I understand it, you've got a fairly formal, rule-based trend-following system. That may or may not work out (I hope it does), but it does oblige you to set your feelings aside and pull the trigger.

What would happen if you put in place a fixed loss-control rule-set (maybe, "I stop for the day if I am down "x" amount" or "if I have "y" number of losing trades" or something else that is very mechanical), and then let your method rip?

Basically, trend-following works all the time, except when it doesn't. So one of the things to do is find a way to handle the whipsaws, the non-trending times. Perhaps in the method itself, perhaps with external loss-control rules, perhaps both.

Just a suggestion. I am not at all making light of the emotional issues that can arise in taking the risks of trading, but the more we can minimize the consequences of possible losses, the better -- and the more control we can have, emotionally.

I'm following your journal with interest, hope it works out well for you.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to bobwest for this post:
 
(login for full post details)
  #323 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bobwest View Post
I definitely understand that issue.

But as I understand it, you've got a fairly formal, rule-based trend-following system. That may or may not work out (I hope it does), but it does oblige you to set your feelings aside and pull the trigger.

What would happen if you put in place a fixed loss-control rule-set (maybe, "I stop for the day if I am down "x" amount" or "if I have "y" number of losing trades" or something else that is very mechanical), and then let your method rip?

Basically, trend-following works all the time, except when it doesn't. So one of the things to do is find a way to handle the whipsaws, the non-trending times. Perhaps in the method itself, perhaps with external loss-control rules, perhaps both.

Just a suggestion. I am not at all making light of the emotional issues that can arise in taking the risks of trading, but the more we can minimize the consequences of possible losses, the better -- and the more control we can have, emotionally.

I'm following your journal with interest, hope it works out well for you.

Bob.

@bobwest Thanks for your suggestion, yes you are right trend following system is the next best to imaginary holygrail indicator/system but it doesn't work when it doesn't and emotions will go thru roof for worse if you are using leverage. In volatile times like this one has to adjust the method, time frame and stops. Emotions, I cannot avoid but what I can do as suggested in mindfulness just notice and let them go and concentrate on method and what's going right now instead of thinking too much about what will be happening next.

Follow me on Twitter Started this thread Reply With Quote
The following 4 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #324 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Not a good start to the week

Trade - 1

Sold YM at 16116

Initial Trailing stop of 100

Clearly didn't wait for signal, but previously when I waited I never got entry

Trade - 2

Sold YM at 16145

Again pulled the trigger early

Now average is 16130 so full 100 point stop on two contracts would be at 16180

Stop hit took full 100 point loss on 2 contracts

Loss = 100 points

Trade - 3

Sold YM 16179

Covered at 16144

Profit = 35

Follow me on Twitter Started this thread Reply With Quote
The following 3 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #325 (permalink)
Vancouver Canada
 
Experience: Beginner
Platform: Investor RT & Ninja
Broker: IB & IQ DTN
Trading: ES
 
Posts: 1,106 since Dec 2014
Thanks: 2,132 given, 1,653 received


bmtrading9 View Post

Trade - 1
Sold YM ...... Clearly didn't wait for signal, but previously when I waited I never got entry

Trade - 2
Sold YM ...... Again pulled the trigger early

Loss = 100 points

Trade - 3
Sold YM

Profit = 35


Thanks for sharing your P&L.

Would you be willing to describe some aspects of entry and exit signal so that we can learn the logic and improve our execution?

Reply With Quote
The following 2 users say Thank You to Narcissus for this post:
 
(login for full post details)
  #326 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


Narcissus View Post
Thanks for sharing your P&L.

Would you be willing to describe some aspects of entry and exit signal so that we can learn the logic and improve our execution?

Sure, I realized that volatility increased and we are in a clear controlled selling mode so I kept my 2 hr trend system aside for now not that it doesn't work but too much of volatility so we have to adjust so current method/trend I was observing was

Sell at ADR high's and buy at ADR low's

What I noticed is first entry always works but If I miss some how then wait for divergence (take any momentum divergence, I am using SMI) and put entry and exit (stop or profit) at 100 points on YM (i.e $500)

Let's say we breach ADR high's and low's then based on conditions I have to exit for small loss and evaluate....

If we are in deep oversold/over bought then I will try to enter at 1.5 or 1.618 or 1.786 ADR_H/ADR_L but we need to get divergence

this is only temporary method I am looking at but trend following is the best methods....I am also looking at round number method which is called "The Program" in this forum...that seems to be working very well.

Bottom line is we have to adjust....

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #327 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Not a good start to the week

Trade - 1

Sold YM at 16116

Initial Trailing stop of 100

Clearly didn't wait for signal, but previously when I waited I never got entry

Trade - 2

Sold YM at 16145

Again pulled the trigger early

Now average is 16130 so full 100 point stop on two contracts would be at 16180

Stop hit took full 100 point loss on 2 contracts

Loss = 100 points

Trade - 3

Sold YM 16179

Covered at 16144

Profit = 35

This got to be kidding me, I pulled trigger on my first trade thinking that I already missed the move instead of waiting a little and put limit order I pulled trigger and sold at market...Hindsight original trailing stop of 100 points would have worked or better entry would be at 16160 - 16170...

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #328 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

After initial setback looks like my mind is not in control so taking a break here. VOLSPD are at high so no shorting unless we reach extreme levels, I am leaning towards buying weakness but it looks like for me just stay out and be calm might help.

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #329 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

CTICK hugging lows but VOLSPD's are not at lows price is churning inside OR and looks Y-HVN is acting as a support for now. One thing I learned hardway is don't go against VOLSPD's.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #330 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Not a good start to the week

Trade - 1

Sold YM at 16116

Initial Trailing stop of 100

Clearly didn't wait for signal, but previously when I waited I never got entry

Trade - 2

Sold YM at 16145

Again pulled the trigger early

Now average is 16130 so full 100 point stop on two contracts would be at 16180

Stop hit took full 100 point loss on 2 contracts

Loss = 100 points

Trade - 3

Sold YM 16179

Covered at 16144

Profit = 35

Good plan crappy execution

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #331 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

I did miss the bounce because I went to DMV and my phone battery died on me too but looks like I missed another 50 point bounce


Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #332 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received




Short term breadth still bad to consider any improvement in big picture...

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #333 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

After trying multiple times, I got back some 65 YM points. Got long oil QM based purely on speculation that bottom is in but realized contract change is today so might have to stomach volatality but try to hold it for a swing.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #334 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
After trying multiple times, I got back some 65 YM points. Got long oil QM based purely on speculation that bottom is in but realized contract change is today so might have to stomach volatality but try to hold it for a swing.

And gave it back all...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #335 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Too bad that I tossed my discipline out of the window this week, went for bottom hunting.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #336 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Too bad that I tossed my discipline out of the window this week, went for bottom hunting.

Somehow I pulled a 200 YM points miracle with YM and TNA...too bad I lost my discipline this week, need to review these trades.

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #337 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Damn, maybe we will go green...this might be the reversal everyone is looking for...just oil needs to bounce and it will be the squeeze of the century.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #338 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Damn, maybe we will go green...this might be the reversal everyone is looking for...just oil needs to bounce and it will be the squeeze of the century.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Finally a good day, still have TNA (Got daily buy signal) and Oil.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #339 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Still holding on to TNA and Oil because I see a huge improvement in breadth in matter off few hours yesterday (amazing!!!). Now if I am right we need a low than yesterdays close to create divergences all over the place and bottom might be in..


Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #340 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Didn't do anything...It looks subconsciously fear started creeping in again not to give up profits and started thinking about trend change and too much uncertainty going on right now. This is when Auto-Trading will come handy once you define your method but even that auto method must change as per conditions of the market else I will be taken to woodshed AUTOMATICALLY...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #341 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Didn't do anything...It looks subconsciously fear started creeping in again not to give up profits and started thinking about trend change and too much uncertainty going on right now. This is when Auto-Trading will come handy once you define your method but even that auto method must change as per conditions of the market else I will be taken to woodshed AUTOMATICALLY...

Sold oil QM at 29.65 from 28.70, will look for re-entry again...sold TNA also for good some 5%. I will try to look to reenter again on both of these.

Edit: Best week so far for this year :-).

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #342 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Wow! this is what I don't like when I sold my positions and that seems to be good idea in short term but some Central banker intervenes and market gaps 200 points, seems same story is repeating...what do you guys do in these situations? How do you say this is a real sustainable trend change? Will you be buying dips like before?

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #343 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Wow! this is what I don't like when I sold my positions and that seems to be good idea in short term but some Central banker intervenes and market gaps 200 points, seems same story is repeating...what do you guys do in these situations? How do you say this is a real sustainable trend change? Will you be buying dips like before?

Now the big UNCERTAINTY is can I switch back to bigger time-frame? maybe not, because day range is still more than 300 points on YM, maybe this whole year will be like this until some very CONCRETE push from central bankers like QE and (or) confirmation that no rate hikes etc.

I think this weeks close is very important. Breadth started to increase so ideally for me to consider change in bigger picture would be create a divergence by making new low, will they let it happen that's a big question...

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #344 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

"Very important principle: Peak performance is about maximizing strengths & positives, not just reducing negatives. "-- Dr. Brett Steenbarger

I guess this what @tigertrader goes by, when you know you right then try to maximize it by using leverage or being in the trade for long etc. etc..

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #345 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Have a nice and safe weekend...cannot complain had good week left out bulk of oil move because of my over thinking, maybe right because that's how market has been lately.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #346 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received



Previous week analysis, I will divide my trades into three sections for easier analysis

Part-1

Method - Sell at ADR_H, if I missed it wait for confirmation using divergence on SMI on 25 min char
Execution -

ADR_H was at 16160 area...price touched exactly 16160 and moved down but I missed the trade since we are
in a down trend I thought it is fine to jump in the trade at 16110 or so without waiting of confirmation.
Price started to move immediatly against me so I waited and added another contract at 16140 now I have two contract
with average of 16130 and I put a stop of 100 point stop and guess what my stop hit and price immediatly reversed.

I realized price immediatly reversed after stopping me out so I entered short again at 16179 with trailing stop of 100 points
but covered it at 16144 because that fear of earlier loss is lingering in my mind I want to minimize the earlier loss

Guess what all the hell break loose after I covered, would have been nice 500 point gain on that short.

Part-2 and Part-3

Method - Buy ADR_L

Execution- Again same mistakes as above, didn't wait for confirmation then tried chasing and
finally decided to hold at 15400 saying to myself...market already dropped 500 points and I will have my stop at another ADR i.e 400 points and asked myself how many times DOW dropped 900 points in a day just maybe two days and
somehow it worked. Again at the end saw oil breaking out and bought YM and sold for another 100 points

Biggest mistake was to sold oil even though I bought it for long term swing trade...

So in summary good week for could have been all-time record week.

This week I have to see what kind of method I can use. I have to admit I am afraid of shorting because of my previous experiences but I am also aware this time is different.

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #347 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Market is confused, I am confused and feared of giving up of profits...I should have been up by a nice sum from my short instead ended up with a loss of 20 YM points. Still debating to buy crude or wait? May be I will try to buy crude at 29.40 because this is catching a falling knife.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #348 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Market is confused, I am confused and feared of giving up of profits...I should have been up by a nice sum from my short instead ended up with a loss of 20 YM points. Still debating to buy crude or wait? May be I will try to buy crude at 29.40 because this is catching a falling knife.

Reshorted at 15951 and covered 15920 and it got dumped

Sent from my SAMSUNG-SM-G900A using Tapatalk

Edit: Tried a long and got burned.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #349 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

My long got stopped out last night and dumped but don't know why market did a Vcovery, one thing is clear I need to get my head straight and stop over trading unless a clear opportunity presents it self...this kind of Vcovery makes me to automate my process (working on that).

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #350 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
My long got stopped out last night and dumped but don't know why market did a Vcovery, one thing is clear I need to get my head straight and stop over trading unless a clear opportunity presents it self...this kind of Vcovery makes me to automate my process (working on that).

So market stops me out of my long and went up straight 15640 to 16090. I am short from 16040 with stop, if I get stopped out that's it done for week. Don't want give back too much in one week

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #351 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
So market stops me out of my long and went up straight 15640 to 16090. I am short from 16040 with stop, if I get stopped out that's it done for week. Don't want give back too much in one week

Sent from my SAMSUNG-SM-G900A using Tapatalk

This freaking short taking toll, I was able to add to my short at 16090 and covered at 16049. Oil is down but $VOLSPD is jot giving up, if we close above yesterday's high I will give up on the remaining short.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Edit: Stopped out at 16065...today is a total useless grind mainly because of me going against the trend thinking market will do it's thing i.e selling at the end. It did but came back up.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #352 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

I am glad I stayed out today, this is as confusing as it can get...$VOLSPD's all over the place, crude is higher and CTICK is not at lows...

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #353 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
I am glad I stayed out today, this is as confusing as it can get...$VOLSPD's all over the place, crude is higher and CTICK is not at lows...

Again it's the same story today too...no trades as I got busy with some other stuff. I might not trade tomorrow also, I am too afraid of loosing and converting a good month into a loosing. Also, I am not finding anything to trade it's too volatile, my stop of 100 points on YM won't be enough unless I get a very good price. I am utilizing this timeframe to automate the stratergy but first I need to find a platform so I am leaning towards Multi Charts but I don't have proper data feed (Currently, I use TOS for data and IB for execution). Any suggestions for good data feed for MC?

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #354 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Initialized two shorts one in oil using QM just as a hedge to my oil long etf's and bought TZA with manual stop if TF closes above 1020.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #355 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Initialized two shorts one in oil using QM just as a hedge to my oil long etf's and bought TZA with manual stop if TF closes above 1020.

Looked great initially on oil but didn't cover it. TZA I am going to give it some wiggle room.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #356 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

As planned I should have kept quite or took profits when presented, instead I did go against the trend at the first weekness and got burned...still a good month.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #357 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Looked great initially on oil but didn't cover it. TZA I am going to give it some wiggle room.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Covered oil but still have TZA.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #358 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Damn damn...contrary to everyone on this forum I screwed it up on the last day...Still neutral/slightly bearish but with hedges and now I have to work my ass off to properly dispose longs and shorts...

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #359 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

I screwed it up in the last day of the week...


Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #360 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Still not a bad start but last day of the month screw up, still might work out but I hate when I get into this managing situations, I thought I am over that bad habit...what happened? I was short YM and somehow when I tried to close it market was already closed so couldn't close it so in order to protect from the gap up over the weekend I had to get in to TF long as a hedge. Now the idea is to close both longs and shorts properly or for small loss.



I might have to go back bigger time frame again and stop worrying about small small movements...anyway wish me luck please.

Edit: I am just posting PnL to get away from bad habits and not to boast about it. I feel like I am more accountable to myself.

Follow me on Twitter Started this thread Reply With Quote
The following 3 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #361 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

https://www.forbes.com/sites/brettsteenbarger/2016/01/31/how-to-stop-making-idiot-trading-decisions/

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #362 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Yesterday night I was able to close all my positions except TZA, I was able minimize the loss but could have made a lot more if wouldaaa stick to the plan...that's the thing! what I am seeing is unnecessarily I am getting into panic mode even with slightest movement against my position so I would like to follow @Inletcap suggestion of try to loose 20 points on ES that makes 200 points on YM. Of course, I have to get my original entry right. Almost 95% of trades I got it right but get out quickly and miss the bigger move.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #363 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

I expected a trend down day because of oil but looks like a range or reversal day. Oil (near ADR) and Russell (exactly at ADR) bounced exactly at ADR lows, $VOLSPD's at lows (or reversing from lows), CTICK reversed from lows and Europe close is coming so kind of confused about my context here.

Edit: I am sorry Russell not bounced of ADR Lows only oil.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #364 (permalink)
Market Wizard
Memphis TN
 
Experience: None
Platform: ToS
Broker: TDA
Trading: None
 
Pariah Carey's Avatar
 
Posts: 899 since Jan 2014
Thanks: 154 given, 2,733 received

What's your percent of equity risked per trade? Getting into panic mode at even the slightest movement against your position is not good. We all get frustrated, we all don't like losing money, but you have to become detached. You have to just not care, I think.

Money make ya handsome
Reply With Quote
The following 2 users say Thank You to Pariah Carey for this post:
 
(login for full post details)
  #365 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


Pariah Carey View Post
What's your percent of equity risked per trade? Getting into panic mode at even the slightest movement against your position is not good. We all get frustrated, we all don't like losing money, but you have to become detached. You have to just not care, I think.

2%, I am not strictly a rule based bcoz I keep adjusting based on market context that's what is causing this trouble or sometimes helping me.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #366 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
2%, I am not strictly a rule based bcoz I keep adjusting based on market context that's what is causing this trouble or sometimes helping me.

Sent from my SAMSUNG-SM-G900A using Tapatalk

One more issue for me is size, I am still one contract guy that makes me tough to hold if I see profits but If I go to 2 contracts I still can't handle the stress.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #367 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Overall a good day, been juggling multiple things (totally against mindfulness practice ).

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #368 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

I didn't do anything today...

After considering lot of options, I trying to move to MULTICHARTS with data provided from CQG. I have to pay for the platform but I guess I am ready to do that...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #369 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Nothing today too, I guess my brain is fully damaged and immersed in fear, just can't pull the trigger....but how many days you will see price moving from ADR_L to ADR_H in matter of hours??

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #370 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Kind of forgettable week for me, haven't done much just trying to come out of the little end of the month mess I did. In my defense, I was very busy for three days of the week and not able to concentrate much but was able to predict the direction correctly just couldn't capitalize on it.

Current market conditions is like a double edge sword, we have to be razor sharp in focus and execution then we can meet months if not year goal but even the slightest distraction, small hesitation, miscalculation and stubbornness can wipe out gains if any or can put us in a deep hole.

One must be adjusting/flipping positions at subconscious levels for this kind of adjustment it might take some time and comes with a lot of cost in the form of loosing. So how one can operate in this environment fearlessly one can ask? Answer comes with ones own previous experience for me my biggest losses came out of this kind of markets how? My nature of mean reversion combined with loss aversion had me made go against the trend (which came after this kind of volatile environment) before without giving much thought to context or why the BTFD happening, who is behind all the BTFD buying, ultimately I was right but cost was huge in the form of opportunity, in the form of loss and in the form of mental agony.

So my brain automatically trying to get re-wired and obviously working with FEAR. Only way one can operate without fear is if ones old profits are way bigger than the current day's range. This week I will try to define my entries and exit before and place limit orders.


Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #371 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Finally got a courage to act, took one long at 50% of ADR_L by seeing oil about to turn and exited at about 50%ADR_H because it's still a counter trend trade.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #372 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Finally got a courage to act, took one long at 50% of ADR_L by seeing oil about to turn and exited at about 50%ADR_H because it's still a counter trend trade.

Should have walked away lost 20 points trying for breakout.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #373 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Should have walked away lost 20 points trying for breakout.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Damn breakout it is then...

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #374 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Did few dumb mistakes like putting an overnight order (good thing was put a stop) but still managed pull out some 135 YM points out of market, not great when compared to other but good enough for me to close the week green.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #375 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

https://www.andrewmenaker.com/context-is-king-for-the-discretionary-trader/

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #376 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

https://www.trading-naked.com/context_is_everything.htm

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #377 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Oh boy this is exactly what I am going thru

https://www.andrewmenaker.com/the-tick-by-tick-assault-on-your-judgement/

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #378 (permalink)
milpitas, ca, usa
 
Experience: Intermediate
Platform: Tradestation
Broker: Tradestation, Ameritrade
Trading: ES, Gold, 10 Yr
 
rahulgopi's Avatar
 
Posts: 1,640 since Feb 2014
Thanks: 1,255 given, 3,780 received


bmtrading9 View Post
Kind of forgettable week for me, haven't done much just trying to come out of the little end of the month mess I did. In my defense, I was very busy for three days of the week and not able to concentrate much but was able to predict the direction correctly just couldn't capitalize on it.

Current market conditions is like a double edge sword, we have to be razor sharp in focus and execution then we can meet months if not year goal but even the slightest distraction, small hesitation, miscalculation and stubbornness can wipe out gains if any or can put us in a deep hole.

One must be adjusting/flipping positions at subconscious levels for this kind of adjustment it might take some time and comes with a lot of cost in the form of loosing. So how one can operate in this environment fearlessly one can ask? Answer comes with ones own previous experience for me my biggest losses came out of this kind of markets how? My nature of mean reversion combined with loss aversion had me made go against the trend (which came after this kind of volatile environment) before without giving much thought to context or why the BTFD happening, who is behind all the BTFD buying, ultimately I was right but cost was huge in the form of opportunity, in the form of loss and in the form of mental agony.

So my brain automatically trying to get re-wired and obviously working with FEAR. Only way one can operate without fear is if ones old profits are way bigger than the current day's range. This week I will try to define my entries and exit before and place limit orders.

Your sub-conscious is nothing but the neural pathways that has been established in the brain as a result of your past beliefs and conditioning. These pathways are like any other muscle in your body, they grow stronger if you work them out. When you work with the fear, try to resist them or inject positive thinking to avoid the fear, you are unconsciously working them out, giving them focus and attention. The only way to release the fear is to allow it, consciously allow it so that it will eventually loose its momentum. Having a bigger profit is not eliminating the fear, it is just masking it using mental tricks like playing on house money etc. Instead try allowing the fear, understand your reason behind it and consciously release it so that it will loose its momentum on you.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to rahulgopi for this post:
 
(login for full post details)
  #379 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


rahulgopi View Post
Your sub-conscious is nothing but the neural pathways that has been established in the brain as a result of your past beliefs and conditioning.

Very true not just in trading but in everyday life too...thanks to you I have been observing my everyday activities, thought process etc. etc. for example if I am fearful/angry I am trying to find the root cause and started analyzing and trying to calm down with deep breath and slow exhalation technique as suggested in this book

https://www.amazon.com/gp/product/B0198XE8SE?psc=1&redirect=true&ref_=oh_aui_d_detailpage_o00_

The trend I am noticing all these psychology books, articles etc. etc some of them related to trading and some or not related to trading the main technique to start with is this breathing technique. Still long way to go for me but atleast I think I am on right path and in right company like you and many helping experts in this forum. Thanks once again.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #380 (permalink)
Atlanta GA USA
 
 
Posts: 278 since Aug 2013
Thanks: 69 given, 268 received


bmtrading9 View Post
Trader Philosophy - Context is Everything

Sent from my SAMSUNG-SM-G900A using Tapatalk

I used to trade with this guy in a room back in about 2001 or so.

Reply With Quote
The following user says Thank You to emini2000 for this post:
 
(login for full post details)
  #381 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

My trades are like roller coaster rides representing emotional state of my mind may be that's how the markets are and that's how discretionary trading is...I remember one special quote from @tigertrader it's ok to flip so many times when markets are at point of inflection...

I think I am getting better, hope to keep the consistency...still have that FEAR lingering back in my mind about that one dreaded mistake which can wipe out majority of gains my main aim is not let it happen this year.



Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #382 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
still have that FEAR lingering back in my mind about that one dreaded mistake which can wipe out majority of gains my main aim is not let it happen this year.

Well guess what I did that same mistake which I was very much worried to do, but in my defense signal was there on 2 hr chart but still didn't wait for proper confirmation and keep shorting slow grind up over night.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #383 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

After a horrible start to the week I recouped some losses yesterday and I held a short overnight and I was in good shape but that oil news rallied whole market in matter of minutes so I took another loss. I am trying to get short ES 1924 or YM 16414 level let's see...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #384 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

After good six weeks, looks like I relapsed my counter trend rehabilitation :-( I keep on adding and removing contracts left and right...bad habit back to the board.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #385 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
After good six weeks, looks like I relapsed my counter trend rehabilitation :-( I keep on adding and removing contracts left and right...bad habit back to the board.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Success masks mistakes and failure magnifies them. Whatever seems to be working before is not working anymore. Just trying to get back that edge back.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #386 (permalink)
Murrells Inlet SC
 
Experience: Advanced
Platform: Tradestation
Trading: ES, CL, ETFs
 
Inletcap's Avatar
 
Posts: 9,158 since Dec 2012
Thanks: 9,765 given, 25,973 received

Found you- I'll follow along. Post your emotions at the exact moment you feel them (yes-before changing your position!!) Then read what you wrote twice. If you are being honest with yourself- act on the position. If not, keep reading what you wrote and then write why you were feeling that way before going back to your trading screen.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Inletcap for this post:
 
(login for full post details)
  #387 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


Inletcap View Post
Found you- I'll follow along. Post your emotions at the exact moment you feel them (yes-before changing your position!!) Then read what you wrote twice. If you are being honest with yourself- act on the position. If not, keep reading what you wrote and then write why you were feeling that way before going back to your trading screen.

Thanks, I am honored.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #388 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

This week is a loss and waster of resources for me starting from Sunday night...then it became minimizing the losses but managing and minimizing losses instead of cutting them I was never good at it. Still grinding out a short on YM from 16340 with trailing stop. I will leave that for a swing trading.

The MAIN reasons for this weeks losses is

1. Trying to get that overbought short based on my 2 hr charts

2. Not honoring stops

3. Not holding on the shorts or adding to them instead panicked and mixed my long term trading with short term gyrations etc etc.

anyway have good weekend folks...

This weekend I will try to do more work on trying to fine tune my automation part but not matter how much automation I can think exit's I can see only using little bit of common sense in swing trade.

Follow me on Twitter Started this thread Reply With Quote
The following 2 users say Thank You to bmtrading9 for this post:
 
(login for full post details)
  #389 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

As mentioned in ES thread I am short Russell using TZA and short YM from 16572 with a trailing stop of 100 points and initial plan was to add at ADR_H (16630) but as I always do I missed that add....

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #390 (permalink)
Murrells Inlet SC
 
Experience: Advanced
Platform: Tradestation
Trading: ES, CL, ETFs
 
Inletcap's Avatar
 
Posts: 9,158 since Dec 2012
Thanks: 9,765 given, 25,973 received


bmtrading9 View Post
As mentioned in ES thread I am short Russell using TZA and short YM from 16572 with a trailing stop of 100 points and initial plan was to add at ADR_H (16630) but as I always do I missed that add....

Just curious- whats your short thesis?

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Inletcap for this post:
 
(login for full post details)
  #391 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
As mentioned in ES thread I am short Russell using TZA and short YM from 16572 with a trailing stop of 100 points and initial plan was to add at ADR_H (16630) but as I always do I missed that add....

Covered YM short at 16506 and trying to re-short at VWAP

Edit: Damn, should have waited for Asia open...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #392 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


Inletcap View Post
Just curious- whats your short thesis?

Combination of weakness in oil, 2 hr chart over bought, daily chart resistance and UP volume is not that great to sustain a rally but that can change very quickly. $VOLSPD was holding up but underneath TICK was weak combined with less fresh new highs and lows on weekly and monthly basis so was expecting a reversal.

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #393 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Wow! I should have looked at ZN and USDJPY tonight.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #394 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Since OIL is in-charge here and my expectation for today is it's going to be volatile because of CERAWeek energy conference. Still have TZA.

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #395 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


bmtrading9 View Post
Since OIL is in-charge here and my expectation for today is it's going to be volatile because of CERAWeek energy conference. Still have TZA.

I expected a range day but oil thought otherwise, still have time left to be a range day...My main idea is how many day's we immediately reversed from a trend up day to trend down day without range days in between? I agree more number of such days this year but still not many...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #396 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Thanks to @GruttePier I will go thru this discussion


Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #397 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

I am flipping back and forth today because of uncertainty in oil for a min it looked like it's going to rip and then immediately down, I am leaning towards end of day sell...I am always wrong or early so it might eod rip...

Follow me on Twitter Started this thread Reply With Quote
 
(login for full post details)
  #398 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received

Whenever I go for holding longer term mentality it's going to blow on my face and when I close my position for small profits it's going to go a lot more...for example yesterday's short from 16570 not it's at 16428 I closed my short thinking adding back again but never did added back because thought about parameters/context changed.

Now I am short again at 16400 with 100 point stop, want to hold it but with every rip/dip I start questioning my thesis... but if somehow I take my whatever loss or profit it goes in my direction making me wonder why didn't I stick to my plan....

I used to be a very good swing trader holding for bigger profits (and much bigger losses ) like 50 handles on ES but now it seems I lost that mojo...

Follow me on Twitter Started this thread Reply With Quote
The following user says Thank You to bmtrading9 for this post:
 
(login for full post details)
  #399 (permalink)
Vancouver Canada
 
Experience: Beginner
Platform: Investor RT & Ninja
Broker: IB & IQ DTN
Trading: ES
 
Posts: 1,106 since Dec 2014
Thanks: 2,132 given, 1,653 received


bmtrading9 View Post
Whenever I go for holding longer term mentality it's going to blow on my face and when I close my position for small profits it's going to go a lot more.

I suffer from that too.

I call this 'Rattled retail syndrome'

The classical symptom is 'acting like day-trader in taking profits and swing trader in taking losses'

Reply With Quote
The following 4 users say Thank You to Narcissus for this post:
 
(login for full post details)
  #400 (permalink)
Market Wizard
Atlanta, GA, USA
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
 
Posts: 1,833 since Mar 2013
Thanks: 2,987 given, 2,151 received


Narcissus View Post
'acting like day-trader in taking profits and swing trader in taking losses'

Well said sir...common issue with retail and mainly one contract guys

Follow me on Twitter Started this thread Reply With Quote


futures io Trading Community Trading Journals > A Cowboy's Trading Journal


Last Updated on January 6, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Finding Trading Opportunities Using Profile Charts w/Tradovate

Jan 28
 

Journal Challenge w/$1500 prizes from Topstep!

February
 

Battlestations!

March
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts