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Yes AZ, I'm working on it. I just have some cheap free image grabber that doesn't work well. doesn't recognize two screens and the images are terrible. Also I have 27 wides so when I print an image using the file menu in Ninja it may come out fuzzy, and I'm not a good artist for marking up etc... but I will try to get something up and indicate time and sales so you can see where I take my scalps. There is a constant flow of good scalps even in these narrow rangy markets. I'm focussing more and more on my DOM now and getting into the rhythm as well.
Can you help answer these questions from other members on NexusFi?
Brian, here is an image of my main YM Scalping chart. It has a VWAP and an 8 ADXVMA, that's it that's all. The flat consolidation areas are the key areas to pay attention to while trading. When you are on one you can watch your DOM for the pure price action which can be quite hypnotic at times when you are really in the zone. Have your other indicators up and in view and use them to make a split second decision as to whether you have a better chance of reaching the limit before the stop. Gomi CDHA and Volume Ladders for active/passive buying/ trapped traders are good. I have a 21 Range chart that I use to draw key larger time frame trendlines. I use the Vix extensively as confirmation on a five second chart from the CBOE. I also looks for positive or negative buying and selling on the NYSE indices, divergences in the futures basis, and additional volume activity on SPY and DIA. When I am really in the zone and able to do all this really fast I think I can trade from the center with a better than 60% chance of being in the right direction. Right now I feel I am better than a coin toss and that's all I need to become profitable with this system. Every trade if I follow my system I feel I have a better chance of reaching my Limit before my Stop which are each 13 ticks from the entry. Using an OCO order simplifies getting it done, it's one click, allowing me to focus entirely on achieving a 70% win loss ratio, my number one goal. Everything else is set in stone. If I achieve my goal I will be counting profits at the end of the month.
Ah, what a brutal day. Trading with real money is so much harder. 1 Trade. 1 Loss. Missed a few. Down 13 Ticks. The big gap down overnight causes some havoc with my indicators. It was a tough session. Missed a few. Well, I'm pretty bagged. Will reflect more thoughtfully when I can.
As tough as it is, you should try to do better journaling on your bad days so you can recognize patterns and ultimately improve your trading. That means identifying or capturing 'the moment' such as a) why did you enter, b) how did it look while in the trade, c) why did you exit.
You need to keep your journal up. Really. I work hard to keep mine up. Look at the figure below. Took a few minutes, but it is well worth it if you understand what it means.
You must document where you mess up and try to understand it.
How else can you make progress?
Most weekends I reread my posts to see where work is needed.
Had a break through this week: it is OK to drop back and SIM.
Some will say it is not the same, it is not, but not always for the reasons people put forth.
For me the idea of taking a loss is just part of the job. But I am in a different place, than you are.
I have no pressure to make a living, yet. I hope that changes.
I use SIM to assess where I am. Like a golfer or baseball player taking practice swings.
If you do SIM, don't think you are a genius if you get a few right, and then lose all focus. That defeats the entire purpose. SIM is about finding what works for you. If I had not been forcing my one trade today and been honest I would have started with SIM, but maybe not learned the lesson I did. That is another difference between the two. Hope that I would have learned the same thing. It is really hard to say.
But taking a loss today was no different than if I was in SIM, I calmly called my trade desk when I experienced a problem. (Still have no idea what happened, even after talking to NT support & will wait for my statement.
Could have used your and Zondor's help late in the YM session.
Trading is easy if you wait for the AhHa moment, at least for me, but it requires a ton of patience. Something I did not have today. I should have SIM'ed more yesterday, and started in SIM today. Then I would have been ready to short YM when it broke down and recognized the reversal signal/Resistance, LH, 1pip AB failure, etc.
R.I.P. Andy Zektzer (ZTR), 1960-2010.
Please visit this thread for more information.
How you doing? long time no see in the chat room buddy.
I don't know if you moved out, as you were planning, or if you're still in Ottawa.
I'm glad to see you trading regular hours, not having to wake up at 2:45AM est anymore, and trading with the power of both sessions...Europe and American.
From what I've read so far in your great Journal, you were still unstable and still changing indicators or system or broker or software and watching too many confirmations.
As Big mike suggested...don't change anything for 2 weeks....I would say for 6 months.
Not changing anything for at least 6 months is really making the difference and hope you are doing it. I did!
The system you chose according to your risk tolerance will become yours and you will find the edge from that system.
Don't stop trading SYX , they say it could take up to 5 years to be our best as a professional trader.
Time is irrelevant in a great long term career.....goal is!
Your Journal is useful to everyone at this level.
You got so many outstanding great advices posted here.
Tell us you're still trading and kicking
