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Zen & the Art of The Small Account
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Zen & the Art of The Small Account

  #601 (permalink)
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Very sick today....going back to bed.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #602 (permalink)
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aztrader9 View Post
Very sick today....going back to bed.....

Sorry to hear you are sick, but a good choice.

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  #603 (permalink)
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aztrader9 View Post
Very sick today....going back to bed.....


Get well soon, my friend...

Hey, it's the perfect time catch up on those Trading books !!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #604 (permalink)
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Still sick...but did market replay today

So I downloaded today's market replay data....and traded with a new perspective on things using a fractal approach to filtering the trades.....I succeeded in making four trades of 12 ticks each.....no losers.....and was done in about 30 minutes.

All trades were taken real time and without having seen the days price action ahead of time.

This is the first time I've ever been able to see the fractal nature of the charts with such clarity. I knew this concept worked but for 2 years it has escaped me. Call me slow, stupid or whatever, I don't care....I'm glad I finally grasped the concept.

If you have an suggestions on how best to use this, chime in.

Hopefully I'll be up to working tomorrow. I had a 102 degree temp this morning along with all the related symptoms.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #606 (permalink)
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aztrader9 View Post
So I downloaded today's market replay data....and traded with a new perspective on things using a fractal approach to filtering the trades.....I succeeded in making four trades of 12 ticks each.....no losers.....and was done in about 30 minutes.

All trades were taken real time and without having seen the days price action ahead of time.

This is the first time I've ever been able to see the fractal nature of the charts with such clarity. I knew this concept worked but for 2 years it has escaped me. Call me slow, stupid or whatever, I don't care....I'm glad I finally grasped the concept.

If you have an suggestions on how best to use this, chime in.

Hopefully I'll be up to working tomorrow. I had a 102 degree temp this morning along with all the related symptoms.



What do you mean by fractal??


AJ
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  #607 (permalink)
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tderrick View Post
What do you mean by fractal??

Fractal is the idea that the patterns on small time frame repeat on a larger time frame. In other words, multiple time frames. Using a 30min chart to filter a 15min to filter a 5min to filter a 1min. Etc. Only I did it with range bars. I used an 18R to filter the 6R. A 3:1 ratio between the charts and using the same exact MA's on both. Combine that with a fib level and I think I am in business.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #608 (permalink)
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aztrader9 View Post
Fractal is the idea that the patterns on small time frame repeat on a larger time frame. In other words, multiple time frames. Using a 30min chart to filter a 15min to filter a 5min to filter a 1min. Etc. Only I did it with range bars. I used an 18R to filter the 6R. A 3:1 ratio between the charts and using the same exact MA's on both. Combine that with a fib level and I think I am in business.


That's crazy ... I'm doing the same thing!! 15 min to 5 min.... 3:1 with no prior knowledge of this effect.
They just seem to work with each other...
... spooky...



I may sneak back to range bars someday, but candles tell me so
much about the feel of a trend... Maybe 6 range candles, hmmmmm.....



Hope you feeling better and trade well, my friend....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #609 (permalink)
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What a mess

Did you see that CL chart today? Crazy tight.

Got stopped out early on one trade and since I believe my trend system gives good trending signals, I quit trading. Boy am I glad I did. I simmed the rest of the day and took it in the shorts for a while. After about an hour, I started shorting only the very tops of the ranges. I did really well with that but since that is not my normal trading style, I opted not to do any of it live.

Looking back on it, shorting near the top of the range is what my system is really designed to do but on a much larger range and I normally look to have profits off the table before any pull backs occur. Today every winner had pullbacks even if they were small ones.

What I did wrong today:
No to much actually. At least with the live account. I listened to my gut when I stopped trading and that paid off.

What I did right today:
1. I quit after the first loss.
2. I actually traded the narrow range today to just see if it could be done. And in fact it can be done but you must be VERY careful and only trade the ranges in the direction of the dominate trend which was short today. Prices would rally to resistance which was very evident on the chart, stall out and then sell down again. After I figured it out, I had a number of 12 tick winners doing this. Will I do it live, maybe but I still think its a dangerous bet. But thats the only way I can see to do it.
3. I fought through the sickness yesterday. I am still pretty sick but at least I can sit upright and think clearly. Yesterday was brutal.

Attached is my chart of my one and only trade. In hindsight, it did not match my trend following rules perfectly but it was really close. I had lower highs on both the 18 range and 6 range charts and a close below the 50MA. Normally, thats close enough but today, no dice.

Here's hoping tomorrow is easier to trade.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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Zen & the Art of The Small Account-2011-01-25_1222.png  
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  #610 (permalink)
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I had a different kind of day


Today I felt pretty bad after another sleepless night. My fever finally broke last night and you all know what that means. Tossing and turning and shivering sweats all night. Fun times. I'm also experiencing an interesting phenomenon with my balance. My right ear is still packed tight with fluid so it rings constantly and I have some instances where I lose balance and stumble. Odd sensation. It will pass as the infection wears off.....Soon I hope.

On to trading. I had decided early on to maybe not trade due to being tired, etc. But I decided to give it a go and see if I was reading price action properly using my MTFA (aka Multiple Time Frame Analysis) method.

To my utter surprise, I was focused and seeing where price might go and I was also deciding in advance what I would do if it got there and why.

So I marked a couple of trades with an arrow. No actual trading. Still not decided to trade yet. After a couple of being right, I decided to go for it.

I had time to load up ninja so you could see the trades but also get them in T4 at the same time.

Funny thing, both my actual trades were counter trend trades but I was seeing PA so well I went with it.

After those two trades, I just kept marking trades in real time along with my on the fly MTFA. No more trades at this point although today would have been a great day to trade but at this point I was coughing so much I thought there is no way I can really concentrate enough to do this right. Turns out I was wrong but I still think I made the right choice of no more trading on a day I still pretty sick.

What I did wrong:
Today, I was almost perfect once I settled in and focused on MTFA.

What I did right:
1. Patience baby. Today I was able to just sit and wait for the set up without getting anxious to be in the market. I have identified that as a possible source of weakness and the MTFA forces me to just wait. Are there other trades to be had while waiting? Of course, are they HPOs per MTFA? No. So don't take them and I did not today.
2. I traded very lightly due to being ill. Only two trades
3. I was totally in the zone today. Was able to see possible zones of S/R and what would have to happen for me to take a trade off of those areas or into those areas.
4. For the first time in I cannot remember, I did not care about the "missed trades". They are not missed trades after all. They are in fact, trades that do not meet my criteria. So in fact, they are not trades at all. Just noise trying to take me out of my zone. They are something that must be endured to get where I want which is a HPO.

The attachments are numbered 1-3 and are 6 range charts. The 4th one is the 18 range chart. The large yellow boxes were put on after the fact and not in real time but the captions reflect my thinking at the time of the action. The resistance lines were placed on the chart just after prices topped out there and were for future reference if price ever got to that point.

I would appreciate any helpful insights into what I could have done better.

By the way, all trades were 12 tick targets with 10 stops. No trailing stops. Especially on narrow days like it was shaping up to be in the beginning. I recognize that many trades could have been much larger. That is ok. Using a 6 range entry chart, a 12 tick target is double the range bar and while it is arbitrary, I think it is appropriate for this stage of my career.

One last thing, the arrows are trades I saw in real time and marked but did not take. The two trades I did take are marked with the ninja text and marker function.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Attached Thumbnails
Zen & the Art of The Small Account-2011-01-26_1134.png   Zen & the Art of The Small Account-2011-01-26_1136.png   Zen & the Art of The Small Account-2011-01-26_1137.png   Zen & the Art of The Small Account-2011-01-26_1138.png  
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