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Journal : Trading and training the mind - Giddy Up!!!


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Journal : Trading and training the mind - Giddy Up!!!

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  #1 (permalink)
Toronto Ontario/Canada
 
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I just joined futures.io (formerly BMT) tonight after getting into Day Trading on August 24th of this year. I wish I had joined a week ago, as this was a tough week.

The main offender was spending to much of each day in front of the screen and getting caught each afternoon making emotional trades.

Tonight, I have read some great posts about realizing how important it is to scale back and work a plan with goals for profit and for time in front of the monitor. Day trading is not the casino and not the place to work on your Ego. I have been struggling with the Ego part more than anything. Yet a good post I saw mentioned the importance of looking at trading as a business with income/expenses rather than winners and losers.

On the expense side, today was a repeat of a common mistake I have made - not using Stops.
The afternoon saw ES take 17 points when the drop began at 2:11pm est. To make matters worse I reversed my trade for another expense of 11 points.

Hard work is the plan going forward.

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  #3 (permalink)
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welcome to the site...& wishing you only the best

been there ..done that.

hope you not trading size....and are well capitalized..else markets are in the hunt mode for their lunch n beer money

game here is real simple...win a lil more than you loose...but if loosing big points...it will become tough at some point

i know there are schools of thought who do not advocate SIM...but if u trade same way real and SIM....SIM can be a great way to say you on the right side or not. Futures can be great if trading right...else the risk of giving back is far higher due to leverage and volatility

anyways thought would speak out when saw some big pt losses....which is never a welcome sight.

cheers
s

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  #4 (permalink)
Toronto Ontario/Canada
 
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Thanks Paps!
I agree with you. Truthfully, I knew I should have taken a break all of last week to work on so study as I started in late August when Vol was really high. Thought I was a champ. I have much to learn.

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  #5 (permalink)
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Much time today spent reviewing material on the webinars of futures.io (formerly BMT) - focused on psychology and risk management.

I reviewed my dismal trade from 9/25 to see that the charts indicated the exit was clearly defined by some indicators point to the door. In my emotional trance I failed to review them. The crazy thing is the repeated lesson here is to have a plan and trade it. That trade had a plan that kept changing during the trade. At one point I was patting myself on the back before all support was broken...then I froze.

Back to today, I wanted to Sim trade a bit today and found it required more work to set up the platform etc and get real non - delayed data...blah blah. The picture is clear, work harder. Get prepared and look in the mirror to see the captain of this ship.

I was very anxious to get a trade in today, after watching the ES for most of the time from noon-3pm. I finally put in a trade with support in the 1870 area being tested a couple of times. Once I went long, I realized that I needed to make a bunch of other decisions. When do I get out, is this going to be a home run? Crap, where is my plan.

I saw a 3 point gain turn into a 1/2 point gain as I stumbled all over my keyboard.

Time to review some Trading Plans information.

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  #6 (permalink)
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Well today started out with income on the first ES trade of the day.
Followed by a series of small winners totaling 4.75 points.
The negative were 2 big expenses as Stops where hit - with an expense of 9.5 points.
To put salt in the wound, I had another 2 expensive trades entered on the wrong side of the market - expense total there was 3.5 points. These 2 trades really threw me into a tailspin. So, with emotion, I jumped into another trade with an expense attached for a total daily net result for the day of an expense of 11.25 points.

I was getting into trades too early today, without confirmation of trends, the emotions where running high as I really felt the bruised ego from early on in the day.

I am heading to Sim for 2 weeks to sort out my trading plan, goals and discipline. See you tomorrow.

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  #7 (permalink)
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Goal today was to not trade with Cash.
Accomplished.
Simulated trading with real time will be a good thing for me as the benefit of not continuing the expensive lessons of recent past. Level of stress was much lower and level of testing much higher. Less anxiousness to earn income and more listening to the market.

futures.io (formerly BMT) resources in the download area have helped. Yesterday, the video by Larry Pesavento has opened my eyes to some patterns that seem to resonate with me. As a presenter, Larry is great, he has decades of market experience as a technical trader.

Going forward, I will follow the suggestions in a futures.io (formerly BMT) webinar on Where Do I Start by, basically to trade products with smaller daily moves per contract than the ES. The euro:usd pair seems to fit the bill.

Two trades made in search of ABCD patterns on the ES were unsuccessful but trade management was improving as stops and profit targets where used.

One trade in the EURUSD was made testing the ABCD pattern. Trade management value was high. More sim is needed here to learn the leverage etc, work on pattern recognition.

In the evening I was reviewing a Pesavento book and continued to dig into his teachings. Will work again on the ABCD patter as it seems to be a bit clearer 24 hours later.

I will trade a few markets in sim today, simply looking for ABCD patterns.

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  #8 (permalink)
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Managed to continue to educate via Larry Pesavento's work on Gartley patterns. Basically, this is studying as I read one of his books. Then I am fishing a bit as I check through the charts on the computer looking for some of the patterns.

Finding these patterns is turning out to be valuable as I am learning about Fib numbers in terms of how they relate to retracements in many of the Gartley patterns. The curve is pretty steep. This experience is humbling and I am glad it is because if it was easy, everyone would be doing this.

The sim trades today where basically testing some of the ideas from the current studying. The execution is improving and risk management via stop loses. This will take some time to fine tune the entry exit points.

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  #9 (permalink)
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Was glad many experienced traders suggest trading the euro. The great thing I noticed today was the risk management available here vs the ES. Trading cash, you can choose your size and a pip can represent a small amount, much smaller than ES with the 12.50/ tick.
For education, the Euro is a good starting point.

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  #10 (permalink)
Murrells Inlet SC
 
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Please stop reading anything about patterns. I know them all from A-Z, spent 100s of hours programming and trading them and it's all bullshit! Very convincing bs but you will not make money doing that. You will blow out your account. For that matter, disregard everything you have read about trading! I know this sounds crazy but you have a chance to learn this properly and if you don't cloud your head with fibbonacci numbers, harmonic price patterns, renko charts, cycle analytics, entry signals and all that crap you will be so far ahead of the game. 90% fail because they all do the same thing.

Truth be told, you need to first learn to define support and resistance and understand that price moves between these levels. S/R comes in two fashions- price points ( highs, lows, closes, swing high/low, etc) and volume at price. Learn this before anything. Once you have "framed" where price may travel you can work on building context by looking at price action relative to S/R.

That is a start for you that will save you more than you believe- One day you will appreciate this post- ask any experienced trader on here and they will tell you the same.


Edit- check ou this link for an idea of what I'm talking about- every morning I discuss S/R levels premarket in a very simple way.

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  #11 (permalink)
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...It does start to feel like a Vortex of Patterns pulling me in. And you are correct, very compelling stories for each method.

I have read some articles/books/watched webinars over the past few weeks and noticed that those numbers on the open/high/low are key.

I was really getting pulled in by the Fibs and abcd patterns. The initial high of seeing something that looks so easy was appealing. As I dig deeper and veer to the side - I notice that there is a tonne of information on the next thing that you need to know. At that point, it does become overwhelming and the idea of there being 100 different languages with 100 different dialects each starts to set in.

The goal is to get trading. Much like a baby, we need to try and roll around, crawl and then take those first steps.

Thank you for the reply Intelcap

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The power of the forum got me going today. I am greatful for the reply from one of the members this morning. Essentially, they could see that I was starting to go down the road of over analysis and pattern studying.

There post gave me the confidence to trade again with some recently acquired basic skills. The key to following the price action and key levels are the basic skills - to be refined - but not horrible at this point.

I was able to put on a couple of Sim trades that amounted to 9.75 points in the ES over 2 trades. Much attributed to a nice pus by the market from 1230-1255pm.

Then I did another long position to ad another 1.75 points.

This lead me to make 7 trades in my live account - after being in the penalty box for almost 3 days. From the 7 trades I ended up breaking even.

Going forward I will work at not trading in the noon-2pm period. I missed the morning today. As I spent most of it studying the patterns.

All sim and live trades today had an improved approach to usage of Stops versus a week ago.
This usage of stops and setting exit strategies is my biggest expense.

Until next week.

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  #13 (permalink)
Murrells Inlet SC
 
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@Oiler. Wow- you seem to be one of the very few who accept advice and heed the warnings- that's great! It really is possible to travel down the wrong paths initially and then always have remnants of thing you read bog down your trading in the future. Obviously, you have to read what I'm writing but im not selling a book or indicator, just offering a little experience.

One other trait newbies get attached to is scalping. If you made 7 trades ( assuming round turns) then you might be getting out a bit too early. This is likely due to your initial experience loosing consistantly so you want to lock in profits when you can. I was a looser for several years and still struggle with exiting my positions too soon because of it, I always want to bank em because I had so much negative reinforcement. Believe that you can be right and the market will move further than you think it will. You gave up some 10+ points being wrong so try to focus on catching some bigger moves when you are right. It's very mentally challenging but when it takes off in your direction the rewards far out way scalping.

Also, stops will kill your account! I'm not saying don't get out when you are wrong but you've gotta give your ideas a little room to work- never assume the point you identified to take a trade is where the market will turn. If your close enough, you can make money on your exit.

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I feel like that is what is needed this week. Out with the old and in with the new longer term strategy.

Scalping is addictive. Each trade is a high and a pat on the back when correct. When they turn into an expense, the question of it being worth the effort pops up.

Now the idea mentioned in the reply from @Inletcap about Believing is big!!! This is the challenge as I look at the charts and my numbers from those daily charts seeing the RTH ranges as very attractive for trading and getting income of 10 points rather than .5 points.

I think sustainability in this business is from listening to experience. Scalping full time and gambling feel very similar.

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Today was a slow day in terms of trading. I did find that not trading SIM makes me very selective. Today was a day where I just wasn't feeling it. The trend was up and I was looking for a big move down. Good learning in that I need to follow the market and realize that in general people want to buy.

At one point I did sell 1975 only to hold it as it hit 1980 and come back to 1977 where I exited, by error, with a limit sell in place, I thought I had canceled it. Selling at 1975 was wishful thinking. Again was very anxious to get in to what I imagined would be a big move down.

I would like to get in a little late and exit a bit early to stay in this business for a long time.

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Nice day on Tuesday. Actually took pointers form George Slezaks trading rules and tried to get in late and out early. Also, focused on the support and res levels while trying to keep the trigger finger in check. Used some fib numbers to get feeling/confirmation on some res levels.

Worked for my first income generating day in over a week. Total 3 round trips for 4.75 points. I did get in early on all of them and also out early on all of them. The patience is still needed.

Was happy with identifying the trend and range from opening hour - helped bring more objectivity and less emotion.

I closed up when I realized that I was up and was at the point where in total I had been sitting infront of the the screen for 5 hours. My goal is to be at 3 hours max in the morning and 1 hour in the afternoon.

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A bit more respect for the market and working at letting go of ego has improved trading this week. Much less trading as the scalp idea is being replaced by learning s/r levels.

Past 3 days have had two income generating days.
Es Trading

Tuesday 4.75 ... 2 round turns
Wednesday -.75 pts 2 round turns
Thursday 2.5 pts 2 round turns

net 6.5 on 6 round turns
a few weeks ago I was making 13-20 round turns a day and losing the majority of days. At that time winning trades averages .8 pts but losers averaged more than I would like to admit. Enough to realize something was very wrong.

Targeting improving trade entry, have been in early on majority of trades this week. Seeing a reversal in a 15 min chart and entering at the beginning of the next bar. Only to see true entry could have waited 30-60 minutes.

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Murrells Inlet SC
 
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Oiler View Post
A bit more respect for the market and working at letting go of ego has improved trading this week. Much less trading as the scalp idea is being replaced by learning s/r levels.

Past 3 days have had two income generating days.
Es Trading

Tuesday 4.75 ... 2 round turns
Wednesday -.75 pts 2 round turns
Thursday 2.5 pts 2 round turns

net 6.5 on 6 round turns
a few weeks ago I was making 13-20 round turns a day and losing the majority of days. At that time winning trades averages .8 pts but losers averaged more than I would like to admit. Enough to realize something was very wrong.

Targeting improving trade entry, have been in early on majority of trades this week. Seeing a reversal in a 15 min chart and entering at the beginning of the next bar. Only to see true entry could have waited 30-60 minutes.

If you wait for a bar to close you will always be late and more often then not have to have a wider stop. Just fade your S/R levels - Place your trades where you find value and wait to see if they work out. You are NOT reducing risk by waiting until some arbitrary point in time to enter. this is called information confirmation and will kill you as a day trader. So many books teach what you are doing- think about what I said previously about those books- 90% fail because they all read the same shit! By the way- saw your prior post and something about fibs- dangerous road to travel.

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Oiler please do yourself a favor. Re-read Inletcap’s post’s. Sound advice - you were given priceless gem’s!

Ask yourself – Is the market selling rallies OR buying breaks? Then look for a low risk entry at your S/R levels. The learning curve kills most in this biz.

Trading is nothing more than managing “RISK”.

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Murrells Inlet SC
 
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trader14 View Post
Oiler please do yourself a favor. Re-read Inletcap’s post’s. Sound advice - you were given priceless gem’s!

Ask yourself – Is the market selling rallies OR buying breaks? Then look for a low risk entry at your S/R levels. The learning curve kills most in this biz.

Trading is nothing more than managing “RISK”.

Good stuff. I'll add some- the phrase low risk killed me because I saw risk as quantifiable when trading "after the turn". By this I mean that I knew where I was going to get stopped and I knew how many points I was going to take so I could say something like this trade has a 2:1 reward to risk ratio so I will take it. Worst thing ever! Gods honest truth- when I enter my initial order I want and expect the market to continue against me all the way up to the point where my trade idea is invalidated ( puking point). I get a bigger position on this way and can scale out once it moves my way to get my cost improved and then determine where I will bail if it goes wrong. When I nail an entry on my initial entry I get really sceptical and have to average up from that point and then scale out what I was just adding- gets quirky sometimes really quick. For risk- I have a general idea of the cost if the market trades decisively against where I thought my idea was invalidated ( beware of climactic moves- action needs to be backed by more action to be real). As for reward- have a general idea of how far I think it will go but as the day progresses that gets altered so no reason to spend too much time scientifically quantifying it.

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Toronto Ontario/Canada
 
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Well we chowed down last night and then watched the Jays win in the do or die situation.

As for last Friday, I noticed volume was low as well as daily range. Really wanted to put on a trade and manage a 1/2 point mid day. Really spent most of day out of the office.

As for the mind, realizing that the s/r is the way to trade. Really, I have been looking for something to identify with and fortunately @Inletcap has steered my out of some dead-ends before I arrived. I appreciate that and look forward to keeping trading fun which means making money and learned more about the markets behavior.

I read some rules by experienced floor trader George Slezak... I like his points about trading. The one that is on my my mind is in terms of getting out safely when the market has retraced 50%. It reminds me of Fib #s and 61.8%. (this is the side of me that wants to make trading a bit of a math thing) Do these numbers cross many of the traders minds? The more I think of s/r and daily highs and lows, the simpler I think this can become.

Today I did my morning ritual for setting up for 1030am est trading. I set a goal to trade until 11 am and to earn 2 pts. I achieved it and was satisfied as I got in before the 1030am 30 min red bar was complete and decided to go long. By 1028 my day was done. Spent time enjoying holiday.

Now what the heck am I doing back in front of the the screen.

See you tomorrow.

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Where are all the bells and whistles?
I think the media and movies has made me expect faster moves all the time. Glad that it is not like that as the past few days have been decent. The recognition of some of the markets personality on these slow moving days has been well received by me. I am searching key s/r levels.

Once I find them, and see them being tested it is really quit a different game than sitting back in the armchair. Once the trade is on, I am in need of increasing confidence and the ability to hold the position until targets are met.

The faith of my understanding of s/r levels will be the focus of my next weeks of trading.

I find I am exiting positions before my target levels are in play.

Today I had 7 round turns. 6 times going short with income of 1/2 pnt to 1 pt for a total of 4.25pts. On the long side, I had one scratch trade.


The morning written goal of 4 pts was achieved and beaten. However, I was not happy with a couple of my entry points and also a couple levels where I did not put on the trade.

Trading with firm targets is the goal. I found when the market coiled in a range that the movements where becoming easier to predict. Just need to get the feeling for when it will break. I would like to trade market breaks more.

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Murrells Inlet SC
 
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Where are all the bells and whistles?
I think the media and movies has made me expect faster moves all the time. Glad that it is not like that as the past few days have been decent. The recognition of some of the markets personality on these slow moving days has been well received by me. I am searching key s/r levels.

Once I find them, and see them being tested it is really quit a different game than sitting back in the armchair. Once the trade is on, I am in need of increasing confidence and the ability to hold the position until targets are met.

The faith of my understanding of s/r levels will be the focus of my next weeks of trading.

I find I am exiting positions before my target levels are in play.

Today I had 7 round turns. 6 times going short with income of 1/2 pnt to 1 pt for a total of 4.25pts. On the long side, I had one scratch trade.

The morning written goal of 4 pts was achieved and beaten. However, I was not happy with a couple of my entry points and also a couple levels where I did not put on the trade.

Trading with firm targets is the goal. I found when the market coiled in a range that the movements where becoming easier to predict. Just need to get the feeling for when it will break. I would like to trade market breaks more.

Hang in there for the move- set your goal to take a percentage of the average daily range or easier to begin with say something like a 2SD move from vwap ( obviously later in the day when the bands have opened up). The market will move and you WILL make more money then grabbing a point or two here and there- it's less risky too believe it or not.
Totally not being a dick but if you get used to taking ½ pt moves and feel you met a goal you are limiting your potential and reinforcing bad habits. That said, congrats on hitting your daily goal.

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  #24 (permalink)
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Today's trading was like the Blue Jays win today. Very emotional, up and down. I think what I learn from the Jays is that you stick to your plan and have confidence in your ability and the baseball or trading gods!

I was positive 4.25 points today. The goal was six.

It was a battle as I have only had income from short trades over the past 2-3 sessions. Getting stuck with a long at the wrong time cost some time today. I had the chance for a quick .75 point but wanted to get 1995 - the opening level. Eventually there was income on the trade but I sold out to flatten my income after 2 full turns (1st was income generating on a short...2 quick points).

To get to the point, need to develop thicker skin to ride the ups and downs before my target level is reached. Early in trading I had the level of 1989 written for a short, the eth low, and we pushed through that level. I chose to sell 1998 and close at 1996. I like patting myself on the back, but it is time to change.

Later I wrote down 1980 - later in the day we tested levels at or within a point - this was support from 3-5 days ago.

I am beginning to connect the dots but need the confidence to hold...I hate when a position gets hot. The heat makes me sweat.

In all seriousness the forum has been my saviour. Thank you

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  #25 (permalink)
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A flat day is better than an expense day.

Was out of the office for other business mid day.
This caused a rushed trade in the morning. Resulting in an expense. It was a short at 1997 that needed to be closed at 1108 am- 1998.5.... of course the market did touch 1995 and lower in the next 20-40 min.

Do not trade if you can not sit with the trade....

Today had a funny feeling as my first trade was long and income generating, but the short felt incorrect.

It makes sense not to trade when I do not have a handle on the direction. Often saying to myself the Market is up when it is up is very objective....Today was a gap open up and after the first hour of rth we went up.

Bigger challenge is to watch longer than 5min time frame charts....The 15 min and 30min seem like they are relaxing beaches versus the 5 min.

Lots of talk about the entire world of small guys being short. Love the forum talk highlighting that 2020 and 2050 are big resistance. Imagine it will not be long, a day or so before we make it there.

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  #26 (permalink)
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Correct me if I’m wrong it sounds like your watching a low time frame, something less than a 15 min. Please understand lower time frames suffer from noise. Do yourself a big favor, move away from the noise. Try watching a 60 or 15 min time frame. Less noise, stress and tendency to develop bad habits. It also sounds like you either enter late (increase your risk) or suffer from a lack of discipline (Oh it’s moving against me I must cover). This behavior is destructive in the long run and will be your demise.

Please learn to trust yourself more & allow the trade time to develop. Seven trades with only 4.25 pts. is imprinting bad habits.

I wish you prosperous trades

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  #27 (permalink)
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I am so pulled to the 5 minute. Appreciate your comment as it is exactly what I needed to hear.

Will reduce/eliminate the 5er from the screen today. So far, it feels like the Heart Rate is already 10bpm lower.

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Today was just wrong - first scalp was great for 1.25 points. 1 minutes trade...no pain. Love it.

Next trade was short 2016.25 at the 59th minute of trading...for some reason I was expecting a break out down....not a chance, rebound all the way back to the first hours high 2023.75 . I held and took the lesson and sold to give up 1.25pts.

Then I realized the trade I should have put on 2 hours ago was a long. L2018 and it felt bad but sold at 2018.5.

I need a break.

Next week will start of with some scalps to get into a groove, unless there is another way to stretch it out in the morning.

Possibly put a better plan in place for each day. Currently trying to get a read from the first 60 minutes.

Need to get in late and out early.

ps did not look at a 5 minute chart today. I do not think I missed much. The 30 & 60 minute are a pleasure to watch, not sure if this is the choice to follow for day trades....I found the 15 minute influenced my buy and sell decisions today.

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  #29 (permalink)
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Loss aversion.
Ended up being stubborn on my short yesterday at 2pm'ish at 2022.75. After holding for 15 minutes I could sense it was gone. The thought of covering was not good.

I am more comfortable holding these bad trades as my understanding of basic sup/res levels is improving. Truly felt that 2028 would provide resistance. It did and we covered o/n

Why am I entering at 2022.75 if I know that 2028 is a better area. One that still needed to be tested. My philosophy in theory is late in and early out. I have been practicing the early in and late out.

Time to become less reactive/excited to trade.

I really want to have winning days, but it is coming at the expense of making money to call meaningful.

During the day, I had another trade that made 1/2 point and this one may 1 point. 1.5 points up.

Something is wrong and I am working on it.

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This morning I jumped into the market with a short prior to doing any of my morning routine from my checklist - reminders and charting/updating levels from the close/open & o/n.

So, quickly the trade is on and I am reminded that the charts 15 min are trending up. The level at 2031 has yet to be tested, and when it is the stay there is not long. I was able to get out with a 1 point gain, but that was after targeting 2021 as my sell point... at noon the trade was closed due to the energy spent on it had emptied my tank.

Like the results from the election yesterday in Canada. It is time for a change in my trading methods.

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The past 4 trading days - 14-19th summed up Results:

17 round trips on ES
6 Long - average income 0.08 points - 67% win
11 Short - average income 0.4 points - 81 win

3 trades cost more than a point - average hold period was 75 minutes

2 trades income of 2 points - average hold was 10.5 minutes

The expense trades had oppourtunities to get out at an income level, but I was continuing to swing for fence.
To stay in the game, I need to practice good money management and time management. Know my style. At this point, I am at the last week of my first 2 months in this game and want to be around next year.

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Wednesdays trade was interesting in that the volumes were up versus previous days. Was not sure how this would affect market but saw that range was bigger at 11EST.

My goal Wednesday was to get on a trend late. Some support levels that I was following continued to be taken out. I wanted to go long as I thought 2030ish could be tested again.

After some heavy patience I did go L2016.25 and then saw an exit 3 pts higher as I simply wanted a percentage of the days range. I ended up closing the trade a point higher. Need to work on Loss Aversion. At the same time, spending 3+hours watching the screen just to enter a trade had wore me out. I will work on another approach to monitoring market. Will take some time.

Did not trade on Thursday - Non-trading priorities needed attention.

At end of Thursday I did check the market and just realized how biased I was to the downside....also a reminder to remain flexible and follow the trend...easier said than done.

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This is not a sprint.

I am calling it an afternoon. Started looking at the screens today from noon to 115pm then from 230-320pm.
At noon hour I was attempting to catch a bottom by going L 2063.25. Patience would have helped me hit the target of the opening level of 2065. After an hour I flattened.

Left to attend to other matters.

Upon my return was happy to see my theory made some sense.

I decided to scalp 3 trades as I saw that on the 5min the resistance at the 2072 level was creating some red bars.
These trades added 3 points to the .25 from noon hour.

My goal was 2 points and this sits well with me. The s/r levels are making more sense each week - the risk aversion is to be worked on. Holding the trades that I am making while watching the 15/30 minute charts must increase. Have have in some targets that I am expecting. Also, dig deeper into analysis to get into a trade where the upside is more than 2 points.

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This day felt slightly familiar to Sept 17/15 when we last had the fed.

Was going to trade this day better as the last one was full of too many trades and lots of emotion. Resulting in too much stress.

Trading went well and the idea was basically to be long into and through the minutes being release. I had a target of 3 pts for the day. I managed to get the 3 points prior to 2pm on 2 trades. I traded of the 15 minute chart and was able to hold much longer than on Sept 17 while using the 5 minute chart.

I did use 2 units at one point as my initial unit long was in a bigger range. So I went long for a little bit. Knowing some of the support and res points helped me do this without the gambling feeling of last month.

Exiting all positions prior to the announcement was based on a lack of conviction of my long. After the announcement I did scalp 3 more trades to total 7.5 pts for the day.

This was my best daily income in over one month. I did not like that I had to scalp for some of it as I am really working toward getting some 4+pt income trades. Working past this resistance of fear of loss.

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Today I went long 4 times.
With 3 income trades of 6.5 pts and 1 expense trade at 2.75 netting 3.75 pts. My goal was 3 points today.

Something is missing. I would like to be able to tell when a push is a good push up or down in price. It seems that I am concerned about break-outs to the down side when I am long and that I am worried about reversals also when long.

I am not using any tick data and I watch volume on the 15 minute chart. Will investigate further.

I would like to get out of the longs when the hit resistance and do not break through. Is this thinking small. Not if it is a range type day. Today was a tight range of 11 pnts.

At the end of the day I almost packed it in but on the forum there was some views that we would go higher, I went long from 330pm - 349pm for 1.5pts. That was great as it helped me reach my goal. The strong push faded at 86.5 and as it dropped I decided to take this little gift before it vanished. Sold at 84.25.

The greed comes into play whenever my income (non-realized) is on the screen and at level above my goal...it fades too often. But beginning to read that you will never make it if you do not have some big winners.

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  #36 (permalink)
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Friday was had some interesting results prior to noon a 4 short trades that where small scalps. The trade holds ranged from a minute to an hour and the income range was 0.25 to 0.75 pts. Hardly stellar.

It is clear I need more work and discipline on S/R.

In the noon hour I went long twice, and it should have only been once. First trade was +2.25pts. Sold at 2085.75. Then noticed some bouncing hire and bought it at the same level again. This was great had I sold it when it jumped for about 10-20 minutes, then I could not see the light as it dropped.

Was looking for something to flash on the screen saying this is why this is happening. I had half a dozen alarms go off telling me to sell as resistance was being hit and breaking down. But I kept holding onto the thought of where the market was at 115pm something like 2087.

Now we have the trade on over the weekend that was never the plan.

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Time to go rake leaves.

I closed 2 trades from Friday at total pnt expense of 5pts.
Made one trade today on the short with a tight stop for an expense of 2.5pts.

Three strikes and I am out today.

It appears the volume is very light today. My performance on these days is weaker than when the volume on the NYSE is higher in the first 30 min than today. Today it was the lowest of the past 5 days.

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Was able to get back into the trade from 3pm to scalp 2 trades for 1.75 pts. in the 2097.75-2099.5 range.

My objective was to get a couple of winners for the momentum for the rest of the week.

Increasing size from 1 to 2 contracts during a few of my last trades has added a different risk/reward. It has opened my eyes to the scaling out of positions that can take place. This is where I feel the real learning will take place and learning about r/s will increase. Additionally, the need to allow for profit growth.

I will ease into this.

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Back when I first started day trading futures, I would jump out of trades at the first sign of profit or loss. I believe this was due to the fact I had so many losers as I was using tight stops that i shit my pants when I was right and felt I had to take profits " just in case". I see you traveling that dangerous path so I'll say this- the market will move and pay you when you are right but you must be in the trade to reap the rewards. You are not reducing risk by jumping out at the first sign of trouble, you are increasing it and hurting your bottom line- I think most of us go through this. I feel you are at the point where establishing some reasonable targets may be beneficial- once you start seeing larger trades work you will be more inclined to "stick it out". Consider using the average daily range as it puts targets into a reasonable perspective- look to take 25% and 50% for income targets and leave your third contract to run to seemingly rediculous levels until you believe the market will move and then you can expand on that. BTW- I am assuming you are trading a reasonably capitalized account since you are trading multiple contracts and holding overnight.

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  #40 (permalink)
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Inletcap View Post
Back when I first started day trading futures, I would jump out of trades at the first sign of profit or loss. I believe this was due to the fact I had so many losers as I was using tight stops that i shit my pants when I was right and felt I had to take profits " just in case". I see you traveling that dangerous path so I'll say this- the market will move and pay you when you are right but you must be in the trade to reap the rewards. You are not reducing risk by jumping out at the first sign of trouble, you are increasing it and hurting your bottom line- I think most of us go through this. I feel you are at the point where establishing some reasonable targets may be beneficial- once you start seeing larger trades work you will be more inclined to "stick it out". Consider using the average daily range as it puts targets into a reasonable perspective- look to take 25% and 50% for income targets and leave your third contract to run to seemingly rediculous levels until you believe the market will move and then you can expand on that. BTW- I am assuming you are trading a reasonably capitalized account since you are trading multiple contracts and holding overnight.

@Inletcap, Good advice and it is not the first time you have provided it to me.

I would say that the point of being sick of taking small trades has been reached. On Tuesday your posts on ADR was like a pan on the head. I managed to use the targets and had a decent day with a 5 pt gain on one of the trades. As I was shooting for 2009 but find that I do back out of trades when hearing others are taking profits.

I do feel that trading more contracts will make sell decisions easier. Trading one lots seems like there is no wiggle room for entry or exit. It creates a bit of stress in the mind as greed kicks in.

thanks again

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  #41 (permalink)
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Focusing on the average daily range.

Also traded with 2 contracts at times.

Ended the day down 3.5 pts. The swing of my on screen p/l was big from +9pts to -14pts.

I did find myself dropping out of trades as a result of comments on the forum as well as entering them with the same reasoning. These actions are taking away the discipline needed to be successful.

The game here is the mind. I am finding my trading volumes where too high over the past few days. It has been income generating overall but not consistent execution.

Time to get the trading plan clearer. Starting with how many units, sell strategies and profit maximizing methods.

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Focusing on the average daily range.

Also traded with 2 contracts at times.

Ended the day down 3.5 pts. The swing of my on screen p/l was big from +9pts to -14pts.

I did find myself dropping out of trades as a result of comments on the forum as well as entering them with the same reasoning. These actions are taking away the discipline needed to be successful.

The game here is the mind. I am finding my trading volumes where too high over the past few days. It has been income generating overall but not consistent execution.

Time to get the trading plan clearer. Starting with how many units, sell strategies and profit maximizing methods.

Take everything you read on the forum with a grain of salt. Also assume anything posted in out of date. By the time the person sees it, analyze it, and then posted it. The market could change.

Even though I post and do stuff I tend not to read comments while I am making trade decisions. My biggest issue is tripping over trying to post something and missing something in the market.

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Focusing on the average daily range.

Also traded with 2 contracts at times.

Ended the day down 3.5 pts. The swing of my on screen p/l was big from +9pts to -14pts.

I did find myself dropping out of trades as a result of comments on the forum as well as entering them with the same reasoning. These actions are taking away the discipline needed to be successful.

The game here is the mind. I am finding my trading volumes where too high over the past few days. It has been income generating overall but not consistent execution.

Time to get the trading plan clearer. Starting with how many units, sell strategies and profit maximizing methods.

Ditto what @tturner86 said. Never follow others! It is OK to use the forum to gain information(context) you might not be aware of but you must make your own analysis. Often times, people are selling/buying for different reasons. For example, I start dropping off contracts at target levels- they mean nothing to anyone and are likely horrible places to exit but they mean something to my own personal money management. Can't tell you how many times people on the forum have opposite positions and both make money due to their exits.. Keep it up- the fact you can handle the volatility says you can do this mentally. Money management should be on the top of your priority list if you are already adapting larger targets.

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Ditto what @tturner86 said. Never follow others!....

This is not directed to you only but why do you guys post so many comments about your trades all day long knowing it won't help anyone and that you could miss an opportunity doing it? Is it just an ego trip? After all who cares about your trades except you?

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@trendisyourfriend - I wonder how did you come up with a conclusion below? I'm not an expert here, I just starting to learn. And quite frankly journals likes this giving fare a bit hint to me personally. And I appreciate ppl who provides their trades with explanations.


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This is not directed to you only but why do you guys post so many comments about your trades all day long knowing it won't help anyone and that you could miss an opportunity doing it? Is it just an ego trip? After all who cares about your trades except you?


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trendisyourfriend View Post
This is not directed to you only but why do you guys post so many comments about your trades all day long knowing it won't help anyone and that you could miss an opportunity doing it? Is it just an ego trip? After all who cares about your trades except you?

I like to believe it does help others and I also feel seeing how others execute successfully helps me. I've picked up numerous ideas from others posts- things I had not seen that I should have, things I was not using that I've incorporated.

I've stated before- posting trades comes last- don't get paid for it. Never miss a thing due to posting- multiple monitors helps BTW. You will see a lot of pictures are time stamped several minutes before the post occurs- this is because trading comes first.

As far as being an ego trip- It is far more humbling than ego stroking to religiously post your trades and I am really sorry you feel so negatively about the open sharing of ideas. You should commit to post every trade you make for a week as a means of participation for the greater good and see what it does to your ego- FIO is all about helping each other.

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trendisyourfriend View Post
This is not directed to you only but why do you guys post so many comments about your trades all day long knowing it won't help anyone and that you could miss an opportunity doing it? Is it just an ego trip? After all who cares about your trades except you?


Inletcap View Post
I like to believe it does help others and I also feel seeing how others execute successfully helps me. I've picked up numerous ideas from others posts- things I had not seen that I should have, things I was not using that I've incorporated.

I've stated before- posting trades comes last- don't get paid for it. Never miss a thing due to posting- multiple monitors helps BTW. You will see a lot of pictures are time stamped several minutes before the post occurs- this is because trading comes first.

As far as being an ego trip- It is far more humbling than ego stroking to religiously post your trades and I am really sorry you feel so negatively about the open sharing of ideas. You should commit to post every trade you make for a week as a means of participation for the greater good and see what it does to your ego- FIO is all about helping each other.

I post to document what I do so I can review later. There are plenty of other things that I can do for my ego... Trading is not one.

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I post to document what I do so I can review later. There are plenty of other things that I can do for my ego... Trading is not one.

Something tells me that guy was on the wrong side of the market today.

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Something tells me that guy was on the wrong side of the market today.

I was on the wrong side of myself today.

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Inletcap View Post
...I also feel seeing how others execute successfully helps me. ...

if you have a system and you execute it as per your plan how seeing another person execute his OWN plan can help you? And @tturner86 you can keep a record of your trades on your computer that will do the same.

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trendisyourfriend View Post
This is not directed to you only but why do you guys post so many comments about your trades all day long knowing it won't help anyone and that you could miss an opportunity doing it? Is it just an ego trip? After all who cares about your trades except you?


Inletcap View Post
I like to believe it does help others and I also feel seeing how others execute successfully helps me. I've picked up numerous ideas from others posts- things I had not seen that I should have, things I was not using that I've incorporated.

I've stated before- posting trades comes last- don't get paid for it. Never miss a thing due to posting- multiple monitors helps BTW. You will see a lot of pictures are time stamped several minutes before the post occurs- this is because trading comes first.

As far as being an ego trip- It is far more humbling than ego stroking to religiously post your trades and I am really sorry you feel so negatively about the open sharing of ideas. You should commit to post every trade you make for a week as a means of participation for the greater good and see what it does to your ego- FIO is all about helping each other.

Putting up your trades can be devastating to your ego, and these guys can never be sure how they will work out in advance, which has to be worse.

Everyone has his/her own priorities and we can assume that they get something out of it, too. How could that be bad?

I'm perfectly fine with the obvious explanation that (1) they want to contribute to the forum, and (2) actively participating, back and forth, benefits them too: everyone has something they can learn.

Some people learn by watching, some people learn by also sharing. Both are fine.

All of the active posters on the spoos thread have given me many, many things to think about. Sometimes I agree, sometimes not. But I have to say that the end result has been very good, for me and, it seems, many others. (And by the way, if someone's ego likes his posting on the forum, why would that be a reason not to read them? And if you post a lot -- ahem, as many of us do, myself included -- can you say that ego never has any role in it? And should anyone else care?)

And nobody forces anyone to read their stuff....

Take what you can from it, forget the rest, and add something when you can. Or stop reading. No problem.

--------------

On the original point: it is obviously a terrible mistake to try to imitate or follow anyone; you can never know exactly why they did what they did, and perhaps you would actually disagree if you knew all of it. Even if they explain everything in their decisions, you can never give them the authority to make your decisions.

However, I think it's very clear that @Oiler is aware of that. What he actually said was that paying too much attention to other's comments was hurting him. This is important, and he understood it.

So I salute his self-awareness. This is a good thread, here.

More, please.

Bob.

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  #52 (permalink)
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if you have a system and you execute it as per your plan how seeing another person execute his OWN plan can help you? And @tturner86 you can keep a record of your trades on your computer that will do the same.

So if you are against public journals? Why are you here?

I post publicly because it is harder to lie to myself if it is posted live and publicly. I can write whatever I want privately and change and deceive myself. If I post publicly once it is out there it is out there. I can't easily change it and lie to myself.

I came to FIO because I wanted to learn and interact with others.

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I apologize @Oiler I didn't realize posting in your thread would cause such an issue.

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  #55 (permalink)
Toronto Ontario/Canada
 
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Thanks for the feedback @bobwest and company.

The past 3 weeks I have been sidelined due to my day job.

Look forward to easing back into trading. The break was good as it reminded me of the goal here is to learn and work toward more control of my financial future.

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Was nice to get trading after a break of a month.

The time off helped me realize that it is important to do treat the market with some expectation that it will behave similarly at times.

Going after a piece of the daily range is my goal. At the same time I wish to stay in the game. At this point I will trade when feeling good decisions and not hesitate about adding to a trade. Now I am comfortable trading 2 units. This helps me when the range feels tighter.

Getting out with 3 pnts/unit today was not my target but it was a good test of my expectation that the daily range would be tested. The forum did provide me with guidance to check support levels at the 88 level. Knowing that helped with my conviction about going up a bit more. Also, the tick data is becoming more of a guide for me when I am getting out of a trade or even just to explain some of the movements during the day.

Always looking for helpful tools to use as I am planning to continue to learn.

Also, just feeling a wiped from watching the screen and tending to some domestic/family issues. So did not hang in till the close.

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  #57 (permalink)
Toronto Ontario/Canada
 
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Have been trading at odd times as of late. Non trading commitments have increased.

The lesson learned is to avoid trading if the proper routine is not possible. Having said that, it boils down to getting a better trading plan. Do not enter a trade without knowing your exit strategy.

Recently, I have been hanging onto trades if I am convinced that after some volatility my profit target will be hit. The danger is the loss aversion tendency. Today I had one trade, that was a good test of can you take a small loss and admit you are wrong. Essentially, the ego gets in the way when you know your are wrong - the ego still needs a good talking to. The ego is in the way when I do not have an exit strategy.

Smarten up, and sit on the sidelines at times, as this equivalent to being in the penalty box.

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  #58 (permalink)
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Two days in and I am learning.

Having heard the noise yesterday while driving in the car, I was lured into a trade that was wrong. I am hanging onto the trade and it is forcing me to get systemized.

Today I set up the daily routine for trading days that start in the morning and still need to prepare something for trade days that start later in the day due to work commitments.

Listening to Anne Marie Baiynd (trading coach) on youtube and liked what I have heard also started looking at her blog in the morning to get view on the ES. She is objective, systematic and analytical, some traits that I need to focus on when I feel like doing a Gut feel trade.

I held a short ES position last night and will continue again today. Too often, I find I treat these positions like they are options that will expire tomorrow.

When I start to lever up - this approach will not make sense, but at the moment I do not feel the need to panic.

Deep down, this is a loss aversion coping strategy....it is bad!!!

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Turbulant month to date.

Has been a litmus test as the strengths and weaknesses of my trading have been highlighted.

Strengths, patience - am managing to hold trades to targets.
Identifying S and R is improving.

Weakness, impatience - am continuing jump in to early. Have target entry in my mind, failing to see the trend and get blown up without a hard stop. This has caused me to hold positions overnight - which I do not mind - but doing it when it was not the plan.

Two frustrating trades from this month - both involved adding to a losing trade and at a point in day where I am showing fatigue in my decision making.

Chalk that up, Plan, always have a plan. Jumping in just because market is moving- Playing catch up - has always proved me wrong.

This morning I tallied up the trading results for past 5 months.
Business Revenue months - August/October total $2777USD
Business Expense months - Dec/Sept/Nov/YTD -$6028USD
Net Loss $3251

Five or less trades accounted the loss. Lesson, small losses need to be taken. Trade with less emtion. Trade less.

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  #60 (permalink)
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Yesterday was the eye opener to seek help.

I displayed major mistakes in trying to buy a break through resistance too early. Then managed to get out when it finally tried and failed to break out.

To make matters worse, I displayed the same behaviour again only to miss my limit order and get nailed down hard for a loss that was dangerous. The Loss Aversion and failure to get on the trend after it starts - bad habits.

Searching for a quick coach, I did not go too far, signed up with trainer that runs a trading room. She speaks clearly and repeats herself - repetition is the mother of skill - and it is what I need. Mentor qualities.

Today I traded NQ for the first time in ages and had some luck. I am sure that if my risk/reward was measured it would show that I would fail but managed to pick up 22 points on 2 contracts early in the day. Once that was complete I left the desk for the day, only to come back and see that it was a beauty today. Honestly, the market will be there tomorrow and I plan on continuing to learn with the help of others and with self study.

Initially I did not want to spend any money on learning, but after some big losses - the need for some reflection made it clear that I was not going to make it on my own. To stay in the game I will seek advice and move fast to get what is needed to be successful.

Finally set up the NT 8 with my IB feed. I now have the Vwap - all of the sudden I feel like tv is now in colour. Also, have an appreciation for what is being said in the forum in terms of SD1 etc. Next, must install MP indicators for NT 8.

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For some reason the more retail nature of the NQ has helped me over the past week. Confidence it up. To date my results have improved. Having 2 of my best days in the past 5 months. Volatility is helping, but the facts are that the ES is a tougher product to trade.

Additional support to my trading has been watching the support and resistance much closer. With the help of a trading room online. Calm coach talking in the back ground has helped. I have still made a bad trade where I refused to sell....loss aversion.

That is the challenge, mentor type figure is in place, loss aversion needs to be worked on.

The ability to sell at a loss needs to be mechanical, go into the trade and now the retest level that you want out at.

Also, avoid trying to buy the low or sell the high - these are the lower prob trades for me.
My favorite trap is buying/selling at an arbitrary level and getting steam rolled because the level had no significance and I took action counter to the current trend.

Riding a move that is in motion seems to work for me at this point.

The use of the Vwap has helped as extreme levels seem a bit clearer especially in this current down trend.

Month to Date I am -$795. My goal is to wipe out my negative $2843 (cumulative total since Aug 2015) this month.

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The past 7 trading days +$4447 have helped me turn my month into a positive revenue of $1388. Since starting in August my expense is at $659.

My turns have been quicker and I am finding myself not getting stuck to a position any longer. Using a coach is helping me. A mentor is key. This has helped me realize that some of the levels I want to get to are not happening anytime soon, so I am adjusting my targets accordingly. Rather than swinging for the fences on each at bat, I am just looking for a double, but happy to adjust to a single if the follow through is taking too long.

This is working for me now, and I will continue this style.

Longer term, I would like to use more contracts, currently one is where I am at and NQ is the market. I do believe, could trade the ES better than I have in the past, but will need to evaluate if it is the right match for me at this point in time.

The plan is to continue to have targets in mind for each trade. And be quick to identify when it is time to take profits or loses.

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  #63 (permalink)
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Last 3 days have been lacking discipline.
h
Have been drawn into a few trades way too early - basically getting excited that a level has been breached. Then taking a position without the market confirming that the reversal has taken place.

On a positive, I am recognizing this failure, but need a line of defense.
My first suggestion is to map out the trades I would like to do in the morning. Currently, I am making decisions on the fly.
My second suggestion is to have a set of rules to follow before each trade is entered. A trade ticket.


Mon/Tues Expense -$672 (held it o/n Monday and it was much worse).
Wed Income +$115. (included an ES exp of 12pnts and an ES inc of 13 pnts)

Managing the entry and exit needs work.

Holding onto expenses is damaging financially and in the confidence department.

The benefit from exiting a bad trade, is you start fresh.

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  #64 (permalink)
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This afternoon 2pm, I started trading after missing the morning.

Normally, I blow up in these PM sessions due to jumping into a trade. Today, I slowed down a bit and made 3 round trips.
the first was a short in ES for 1.25 points income. Was not feeling the trade and got out.
the second was short ES where I missed my profit level by a tick and then it was a 2pt expense.
the final was in NQ where I went short and income was 6.25 points.

This trading was choppy and challenging. I really wanted to line something up on the charts of a few time frames - but I am just experimenting with some new ideas for higher probability trades with the MACD's of the 5/15/30 lining up. Yesterday it was a good trade, in hindsight.

Alternatively - the use of the vwap is helping with control of stupid trades.

At the foundation of this venture is to make money, I understand that longer time frames must be held to make money. Today my holds ranged from 4 min to 27min. Best trade was 16 min.

In the past my worst trades are held too long.

Today I did stop one of my trades, that was not easy to admit I was wrong.
Sticking to a plan for each trade is my goal.
Discipline.

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Must get into following the ADR a bit closer and avoid knee jerk reactions to close trades.

This is easier said than done.

I am working with a trading room that sticks to simple moving averages, S/R and Macd as guidance. It has been a good learning experience. Trading results has been dictated by my view and inexperience.

for example.
The initial balance high today at 1030am on the NQ was tested and pushed higher, that was a good moment for me as I finally picked up on the significance of this IB.

Another learning point today, is again to be patient. This times into the ADR, as the day progressed, we slowly pushed up, taking out key res levels.

The positive thing is that I can see the next level coming and am constantly trying to start a trade at the level from 10 seconds ago. Ultimately missing 2-5 points in the NQ or 2-3 in the ES.

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Today, I noticed how the longer time frames, like 4hour, can clear out the noise in trying to spot direction and more important key support and res levels.

These levels of s/r are helping me see the stopping points in charts.

Trading today yesterday, first of the month, involved a handful of trades, most income generating, but one causing some pain. End result, I generated income of $50.

Today, I had a good start in the am and at noon was up about $200 on 4 trades. In the late afternoon I made a few trades but at 253pm went long and had to wait for things to come back, long at 4293.75 ....went down 20 points...in that time I studied the s/r levels (should have done that earlier) and had confidence and expect to see 4209. The challenge is holding overnight. I can do it, but do not like this habit. I added to the position at 4286 and sold the add at 4296.

The position was in the green and I did not have a plan. At the moment I am planning on holding 2/3rds overnight.

Watching the slope of the macd histogram is adding a new perspective. I will continue to work on this, the longer time frames and the ADR.

Today my current mtm is $150 for the day.

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Today was a bit of a heads up.

Need to be responsible for knowing what data is out each day. The ISM data today may have been what triggered a big sell off at 10am. This not knowing the data, caused me to scramble a bit. Was relying too much on the trading room for guidance during this time.

Regardless, I exhibited some of the loss aversion today. As I got long during the drop and actually tried to pick the bottom, only to be wrong. I also traded aggressive on this dumb trade, so it was double my normal size in a market that was moving fast.

At the end of day, I limited that trade to a NQ expense of 10 points. Exited the trade at 1130am due to needing a break.
Overall, revenue of $400 during past two days trading Tues/Wed.

The largest issue is the decisions I am making on trades to get in. Not having a exit strategy makes it painful.

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Control the impulse to buy the grand slam trade on the turn.

Small pieces of cheese with control is the plan. Know where to get in and where to get out.

good futures.io webnar on trader psych by


The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist Hardcover – Mar 23 2009
by Brett N. Steenbarger (Author)

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  #69 (permalink)
Toronto Ontario/Canada
 
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This morning, I managed to have a few good trades in small pockets of S/R.

Noticed my expense trades, where those that were entered at s/r points that had been tested a few times already. Caution needed here in the future.

I have heard of some traders using stop buy and stop sell orders just beyond the test point. So I could sell the rejection off resistance or the buy the bounce off support.

Should practice this in Sim. Finding the day was mentally draining today and somehow did not pull myself away from computer at lunch....resulting in a decent morning income turning into a $2 slap in the face.

In all honesty, I have a bunch to learn and am pleased that today's lesson was cheap.

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Chasing some pennies in the first few minutes of RTH on Friday, Feb 5th has caused some pain.

Trading the short time frames, and going after pennies has put me in the position to once again say look at the big picture.

Have given back all gains from the year due to one day.

Biggest learning is that I hate being wrong and could not sell when this trade was going against me.

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  #71 (permalink)
Toronto Ontario/Canada
 
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Morning trading felt better than expected.
Getting the poor trade closed up, helped redirect energies into flow of todays action. Loss aversion puts me in the state of inAction.

Taking action and being strategic is the key to getting back on track.

Ask "How can I make my trade more strategic"?

Once the new action is clear and made, the new direction opens new focus and learning.

Going forward I am going to trade level to level. Swinging for the fences is not in my rule book.
Striking out does not mean there are pitches after 3 misses----walk away and have a seat.
Trend and S/R - keep it simple.

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Oiler View Post
Morning trading felt better than expected.
Getting the poor trade closed up, helped redirect energies into flow of todays action. Loss aversion puts me in the state of inAction.

Taking action and being strategic is the key to getting back on track.

Ask "How can I make my trade more strategic"?

Once the new action is clear and made, the new direction opens new focus and learning.

Going forward I am going to trade level to level. Swinging for the fences is not in my rule book.
Striking out does not mean there are pitches after 3 misses----walk away and have a seat.
Trend and S/R - keep it simple.

Lol. Reread my post on the very first page of your journal. I told you you would think I was crazy but all you need is what you just discovered above... Keep at it and things will start to work for you.

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Toronto Ontario/Canada
 
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Inletcap View Post
Lol. Reread my post on the very first page of your journal. I told you you would think I was crazy but all you need is what you just discovered above... Keep at it and things will start to work for you.

I suggest any newbies save themselves time and print out the sage advice from @Inletcap



Thanks again for the feedback, it can be lonely out there.

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