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GruttePier's trading journal to getting profitable
Started:October 11th, 2015 (12:20 PM) by GruttePier Views / Replies:38,638 / 733
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GruttePier's trading journal to getting profitable

Old October 12th, 2016, 07:55 PM   #631 (permalink)
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YES!

This is something I have been meaning to ask you all! When I was talking to some of you, I was awfully afraid that I would persuade someone to do something they didn't believe in!

I was wondering how I might affect other traders.

Hmm.. I wish there was a way to not affect other's trading biases and such...

I do not know how to do such a thing except to NOT give my bias on the market. If I do that, a lot of people will lose out on somethings they want.

I am unsure how to find the perfect medium.

What do you all think?

Thank you for the thoughts and input! You all mean a lot to me, so I hope that we can find some sort of solution!
@bobwest @Inletcap @GruttePier

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Old October 12th, 2016, 08:20 PM   #632 (permalink)
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rocksolid68 View Post
YES!

This is something I have been meaning to ask you all! When I was talking to some of you, I was awfully afraid that I would persuade someone to do something they didn't believe in!

I was wondering how I might affect other traders.

Hmm.. I wish there was a way to not affect other's trading biases and such...

I do not know how to do such a thing except to NOT give my bias on the market. If I do that, a lot of people will lose out on somethings they want.

I am unsure how to find the perfect medium.

What do you all think?

Thank you for the thoughts and input! You all mean a lot to me, so I hope that we can find some sort of solution!
@bobwest @Inletcap @GruttePier

You'll certainly need to give your bias in the market. Otherwise, what would you be doing the webinar for?

Probably the first thing is just to discuss the issue. If someone is going to imitate you, you can't stop them. But you can talk about how you think they should take your remarks and observations.

Just make sure it's out in the open and is clear. Best thing I can think of.

Bob.

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Old October 13th, 2016, 03:58 AM   #633 (permalink)
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rocksolid68 View Post
YES!

This is something I have been meaning to ask you all! When I was talking to some of you, I was awfully afraid that I would persuade someone to do something they didn't believe in!

I was wondering how I might affect other traders.

Hmm.. I wish there was a way to not affect other's trading biases and such...

I do not know how to do such a thing except to NOT give my bias on the market. If I do that, a lot of people will lose out on somethings they want.

I am unsure how to find the perfect medium.

What do you all think?

Thank you for the thoughts and input! You all mean a lot to me, so I hope that we can find some sort of solution!
@bobwest @Inletcap @GruttePier

I really liked to hang out in the room yesterday. It's entertaining at some moments, less lonely and I think you are doing a great job in showing others how you trade so they can learn from you.
Since you want to teach others, I do think that you need to discuss your bias, aswell how you execute on it. That's what you're doing currently and your doing well. Look at all the positive feedback you're getting, keep it going!

When it comes to me, I'm at a stage where I want to further increase the profitability of my trading.
I'm not looking for an edge, method, psychology, whatever anymore. I want to exploit my own trading. So, while being in the room is entertaining and helpful, I notice that some discussions interfere with my own thoughts and I get influenced. A room (any room) is not for me at this moment.

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Old October 13th, 2016, 11:23 AM   #634 (permalink)
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Oct 13th prep

Market overview (10.15 am / 16.15 CET)
- Asia, down 0.3 Ė 1.6%
- Europe, down 1.3-1.5%
- Oil, down 0.4%
- Gold, up 0.2%
- Bonds, up 11/32

Overall sentiment is negative.
Several news releases today.

Important price levels
- 2135-35. SR level, weekly S1
- 2107. Important SR level on the daily

Overnight made new lows. Price is trending down since the open, found support at the 2107 level and is currently pulling back towards VWAP.
Large opening gap of 21 points.
RVOL is high at 125%, $tick looking very weak sofar.

Iím not sure on what to expect today. It looks like a trend down day today, but Iím expecting strong resistance on the 2107 level since this is a long term pivot. Breaking it will confirm a further move down, but price is also likely to bounce off and turn the day into a range day.
If price retraces towards the VWAP / S3, Iíll be looking for a short, see how price reacts on the 2107 level and take it from there.

When Iím not clear on my bias, Iím usually not doing well. Weíll see how the day unfolds.

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Old October 13th, 2016, 03:17 PM   #635 (permalink)
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rocksolid68 View Post
YES!

This is something I have been meaning to ask you all! When I was talking to some of you, I was awfully afraid that I would persuade someone to do something they didn't believe in!

I was wondering how I might affect other traders.

Hmm.. I wish there was a way to not affect other's trading biases and such...

I do not know how to do such a thing except to NOT give my bias on the market. If I do that, a lot of people will lose out on somethings they want.

I am unsure how to find the perfect medium.

What do you all think?

Thank you for the thoughts and input! You all mean a lot to me, so I hope that we can find some sort of solution!
@bobwest @Inletcap @GruttePier

I've had this same internal struggle and determined (with others advice) it was best to share and let others control their own destiny as they see fit. Unfortunately, you will know that others are shadow trading you no matter what they say-you just know it, and when you are really wrong you are going to feel really bad for potentially leading some down a dark path but you have to accept that you will be wrong and others should expect and appreciate that fact (besides knowing that they shouldn't have been trading your thesis to begin with)..

From what I am pretty sure of, I think people hear or read the idea and then wait to see it playing out and say- oh, he's right I'm going in- just about that time you'll be scaling out, there will be some volatility as the first speed bump comes up- they will bail for a 2 point loss or 2 tick gain and the cycle repeats- unfortunate but most likely fact!

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Old October 13th, 2016, 04:13 PM   #636 (permalink)
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Oct 13th

Severe overtrading today.

I was almost constantly in the market, chasing price action and catching swings.
Instead, I should have just executed on my bias: Switching to long when the 2107 level held, taking profits at price levels like VWAP, OR low, S1, etc while adding on the pullbacks.

The good things are:
- Iím not afraid to enter positions
- Iím not afraid to risk money
- My bias is almost right
- Almost all days end with a profit

The bad thing is that Iím not exploiting my bias to the fullest. Thatís why I keep making small profits. My bias today was spot on. Instead of catching a large portion of the 20+ point daily range, I only made 1.75 points.

I know what I should do, but somehow I was not able to do it during the action today.
Stuff to think about.

BTW, I do feel good about today. Despite my bad trading, I did make a small profit, I see very clearly what I should have done and what the potenial is when i fix this. And yes, I'm an optimist by nature

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Old October 13th, 2016, 04:26 PM   #637 (permalink)
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GruttePier View Post
Severe overtrading today.

I was almost constantly in the market, chasing price action and catching swings.
Instead, I should have just executed on my bias: Switching to long when the 2107 level held, taking profits at price levels like VWAP, OR low, S1, etc while adding on the pullbacks.

The good things are:
- I’m not afraid to enter positions
- I’m not afraid to risk money
- My bias is almost right
- Almost all days end with a profit

The bad thing is that I’m not exploiting my bias to the fullest. That’s why I keep making small profits. My bias today was spot on. Instead of catching a large portion of the 20+ point daily range, I only made 1.75 points.

I know what I should do, but somehow I was not able to do it during the action today.
Stuff to think about.

BTW, I do feel good about today. Despite my bad trading, I did make a small profit, I see very clearly what I should have done and what the potenial is when i fix this. And yes, I'm an optimist by nature

Essentially took the same trades today but you grabbed some profits where I did not and I held on after the flip and have just been scaling (I also had an opening trade short but only got a small scale out of it- my VWAP and OR_Bot shorts were reloads exited on the long flip- Interesting we flipped in the exact same location mine was exactly 16.75)


Inletcap View Post
Fun morning:

So I got stopped out of my long last night- got short off the open- took minor profits- reloaded on VWAP and Or_bottom- missed a small income target by a couple ticks- then flipped the whole enchilada long as we crossed +1SD and the OR_Bottom around 17. I've essentially made $142 on my big morning short (sigh) and am holding my long (for now) with3 pts profit. Not the best of days and really don't like the long but it is what it is.

On a positive note- I knocked out 24 hours of continuing education in 3 hours this morning meeting my entire annual requirement with 1 day to spare

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Old October 13th, 2016, 04:35 PM   #638 (permalink)
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Essentially took the same trades today but you grabbed some profits where I did not and I held on after the flip and have just been scaling (I also had an opening trade short but only got a small scale out of it- my VWAP and OR_Bot shorts were reloads exited on the long flip- Interesting we flipped in the exact same location mine was exactly 16.75)

Funny to see that we indeed took trades at nearly the same locations. Good for my confidence!

I notice that you switched from short to long once, while I did it various times.
Exactly my problem today, I know what to work on next


Last edited by GruttePier; October 13th, 2016 at 04:43 PM.
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Old October 13th, 2016, 05:59 PM   #639 (permalink)
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GruttePier View Post
Funny to see that we indeed took trades at nearly the same locations. Good for my confidence!

I notice that you switched from short to long once, while I did it various times.
Exactly my problem today, I know what to work on next

Here is a clean chart for reference if you think it will help. I thought the morning would take out the lows as I couldn't "explain" why we stopped where we did:

**I'm including trade size as it shows how I start off smaller on the uncertain time of day (rth open)and increase as the day unfolds or press it when I am closer to my edge of flipping thesis as risk reward is good there- normally I would not flip my entire size at once but with 2 higher lows/highs and the strength seen on the 2 minute chart with internals I took a risk flipping earlier than normal thinking I would soon scalp a part of it off- new information kept me in the trade entirely until larger targets were near...

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Notice the reloads (VWAP & OR_Top were limit orders and didn't get filled on first touch- may be getting a bit too greedy


Last edited by Inletcap; October 13th, 2016 at 06:08 PM.
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Old October 13th, 2016, 07:02 PM   #640 (permalink)
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GruttePier's trading journal to getting profitable



Inletcap View Post
Here is a clean chart for reference if you think it will help. I thought the morning would take out the lows as I couldn't "explain" why we stopped where we did:

**I'm including trade size as it shows how I start off smaller on the uncertain time of day (rth open)and increase as the day unfolds or press it when I am closer to my edge of flipping thesis as risk reward is good there- normally I would not flip my entire size at once but with 2 higher lows/highs and the strength seen on the 2 minute chart with internals I took a risk flipping earlier than normal thinking I would soon scalp a part of it off- new information kept me in the trade entirely until larger targets were near...

Notice the reloads (VWAP & OR_Top were limit orders and didn't get filled on first touch- may be getting a bit too greedy

It is. I was about to ask you to send your chart over PM :-)

Now that we still have today fresh in our minds, I have a few questions if you donīt mind

At some point (probably when price made the first higher low after LOD) you mentioned in the spoos that today might be a range day. I understand your decision to flip your full position, because price made a powerful move up at that time. However, if you were expecting a range day at the time of your flip, why did you only take 1/4th off at S1? I would expect taking more off at S1.

At what point did you assume it might be a trend day? I assume when price broke through S1?

Suppose it would have turned out to be a range day and price made a HOD at S1.
At what moment would you have closed your remaining long position? I assume when price would make a lower high or lower low? Or when price moves below VWAP?

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