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How I Trade For a Living
Started:August 30th, 2016 (10:48 AM) by rocksolid68 Views / Replies:49,186 / 662
Last Reply:November 7th, 2016 (02:55 PM) Attachments:94

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How I Trade For a Living

Old September 14th, 2016, 10:04 PM   #81 (permalink)
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rocksolid68 View Post
Here it is.

I am not going to annotate on this chart just because it won't make much sense....

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We see your entries and exits, and while we do not understand your logic for the reasons of your entries, we can at least see it. :-)

That is one of the problems with NT's chart display...Information on the chart gets cluttered.

     
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Old September 14th, 2016, 11:19 PM   #82 (permalink)
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HoopyTrading View Post
We see your entries and exits, and while we do not understand your logic for the reasons of your entries, we can at least see it. :-)

That is one of the problems with NT's chart display...Information on the chart gets cluttered.

Hey @HoopyTrading

I use Sierra Charts actually

I used to use NT, but realized that it was counter-productive and paled in comparison of SC. Just my personal experience.

As far as why I take my trades, that is something I want to go more in-depth on but is not easy to do while I am trading. I am figuring out a way to make the daily recap more beneficial to you all.

I think that I may have it figured out, but am still pondering.

(PS., when you quote a post with an image, make sure you remove the image from your post. This lessens the clutter and keeps the thread neat. This is not just me, this is the forum's etiquette. Thank you )

     
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Old September 15th, 2016, 01:44 AM   #83 (permalink)
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rocksolid68 View Post
Regarding @bobwest's post about why I "fade" certain areas.


Let's make this simpler.

You want to buy Girl Scout Cookies in season, and sell them when they are out of season. (Girl Scout's is a program for girls that kids join and they sell cookies in America).

So, I want to buy low, sell high, right?

I buy 10 boxes of cookies in-season for $5 each. I now own 10 boxes of cookies and am $50 down so far in this investment.

The season of Cookie selling for Girl Scouts continues... Then in the last week before the are done selling cookies, they go on sale!!!

THEY ARE NOW SELLING A BOX OF COOKIE'S FOR $2!!! Wow! That is cheap!

So, you are confident you can sell these boxes of cookies for $8 a box when they are out of season. Currently you will make $3 profit per box since you bought them for $5 originally.

Don't you want to buy more to make more money? You are confident that you can sell for a profit, so why not buy more when they are cheaper? More profit-per-box!

So you buy 20 more boxes. You now own 30 boxes of cookies and are $90 in the hole on your investment. All is well, because you are confident you can flip these cookies for a profit.

So next thing you know, the Girl Scouts stop selling their cookies.

You start to sell these cookies at $8 a box. 30 boxes for $8 a pop. Boom! $240 revenue, $150 in profit.

Worth buying those cookies for cheaper? Hell yeah.

Better to buy them at a discount that buying all 30 at $5 a box.



(Sorry for the long winded explanation. I hope this sort of made sense )

It would never work for me. I'd eat the cookies first, especially the Thin Mints and the Samoas.


"You don't need a weatherman to know which way the wind blows..."
     
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Old September 15th, 2016, 10:32 AM   #84 (permalink)
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Morning Analysis:

Daily:
EDIT: Weird glitch won't let me post more than one attachment per post. Will post daily photo in next post.

-Volume decreasing. Less participation. (Mainly retail traders)
-ADR decreasing past few days.


30 Minute:
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-Trend line break will signal that retail is giving way to the bull side
-Only retail players in the market yesterday.
-Range-bound day yesterday
-Expect test of recent lows (red box)


Market Thesis:
-We test lows around the red box.
-If it is only retail that pushes it down there, I will expect OTF to buy us up to the 50's
-If we go higher at the open, expect range day

Trade Thesis:
-Wait for move lower and buy it up. (2105-2100)
-If we move higher, wait for exhaustion, then sell around M-VWAP


Last edited by rocksolid68; September 15th, 2016 at 10:58 AM.
     
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Old September 15th, 2016, 10:35 AM   #85 (permalink)
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Futures Edge on FIO
Here it is;

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Old September 15th, 2016, 10:53 AM   #86 (permalink)
Market Wizard
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rocksolid68 View Post
Morning Analysis:

Daily:
EDIT: Weird glitch won't let me post more than one attachment per post. Will post daily photo in next post.

...
30 Minute:
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...

Not sure about the glitch you mention (we'll soon know if it is forum-wide ), but the image in this post is not showing up.

This is an old, known FIO bug, where the poster sees his image very well, but no one else does.

Here's what I see:

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The cause of this is usually that the poster took too much time between importing the image and saving the post (I don't know how much time is "too much.") So many of us now only do the image imports after being sure the text is finalized, then save as soon as the image is in.

The fix is simply to re-import your image into the post. It will be fine then.

This bug will get fixed in the next version of FIO, because a different bulletin-board software will be used. Until then, we just work around it.

Bob.

     
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Old September 15th, 2016, 10:58 AM   #87 (permalink)
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Can anyone confirm whether or not they can see the picture I embedded in my posts?

@bobwest?

     

Old September 15th, 2016, 11:05 AM   #88 (permalink)
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rocksolid68 View Post
Can anyone confirm whether or not they can see the picture I embedded in my posts?

@bobwest?

I see a chart on #85

     
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Old September 15th, 2016, 11:09 AM   #89 (permalink)
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michaelleemoore View Post
I see a chart on #85

#84?

     

Old September 15th, 2016, 11:10 AM   #90 (permalink)
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rocksolid68 View Post
Can anyone confirm whether or not they can see the picture I embedded in my posts?

@bobwest?

Yep, it's in #84 now.

85 was always there.

Bob.

     
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