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Zen & the Art of The Small Account


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Zen & the Art of The Small Account

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  #671 (permalink)
Tundi
Fullerton, CA
 
 
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OP, are you currently in Patak's Combine?


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  #672 (permalink)
 lemons 
Tallinn, Estonia
 
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yes he is and was TopDog today

 
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  #673 (permalink)
 Mickey Caine 
Kent, England
 
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Hi AZ, great post today.
I took on board your suggestion in my journal with regard to only taking the trade when there is a HL or LH instead of what I was doing, which was just taking straight reversals. Although with my 12 range entry chart I am tending to lose focus due to lack of signals. I may well speed things up a little by droping down to the 6. Your charts and notes today made your set-ups very clear so thanks. They are pretty much the same as I use on my larger timescale. However I have one quick question. On your last trade, was there not an entry just before you took the B-O, at 85.74. Did you pass on that one due to there being several bars that had stalled at 79.

Well done today.

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  #674 (permalink)
 PandaWarrior 
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Mickey Caine View Post
Hi AZ, great post today.
I took on board your suggestion in my journal with regard to only taking the trade when there is a HL or LH instead of what I was doing, which was just taking straight reversals. Although with my 12 range entry chart I am tending to lose focus due to lack of signals. I may well speed things up a little by droping down to the 6. Your charts and notes today made your set-ups very clear so thanks. They are pretty much the same as I use on my larger timescale. However I have one quick question. On your last trade, was there not an entry just before you took the B-O, at 85.74. Did you pass on that one due to there being several bars that had stalled at 79.

Well done today.

Yes there was an entry but you are right there had been several stalled out attempts at that price....so I bought it at 80 on the BO but only because all other signals were in favor. Otherwise I would not have taken it.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #675 (permalink)
 tderrick 
Nashville, Tennessee
 
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aztrader9 View Post
My data entry log is just a place for me to jot down if the trades meet criteria or not....I'll show you mine for what its worth....

Keep in mind the daily goals at the bottom right are just for my use. I am testing some theories on time based charts and IF I get my goal done inside the allotted trading time, I will look for those entries on the time based charts. Otherwise done and gone.

Is this what you are looking for? Or were you looking for my money management stuff?


Sorry, brother I'll have to catch up later... In the middle of a long session...

I hear you had a good day trading!! Now let's keep it up!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #676 (permalink)
 PandaWarrior 
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It was the oddest day today. When I got to the computer, prices were already making new highs on the Globex session. I hate that. I don't where to really get in.

So I waited, and eventually I got a good signal and took it. But again, prices were just hanging around and not showing any real strength. So I passed on the signals that came afterward. I never really got a signal that I really liked.

I spent the balance of the morning looking for re-entries on trends that I waited to develop that never really followed through the way I like to see it.

My perception of price today was that it was really choppy, undecided and difficult to trade.

I took the entries I was supposed to. For that I get an A. But I moved my stop up much to fast as I just did not trust price to follow through. So I had several small stops and one full stop. Ironic thing is this, almost all of those entries did follow through eventually and make my original profit targets.

So I get an F today for execution. The entry is easy, the exit is much harder. So even though I had for the most part, really good entries, I score an F on the day for exit execution.

Another good thing I did was NOT force trades. I really did wait for what I wanted to see. When I got it though, thats when it broke down.

Tomorrow, my task is to hold the entries if they are valid to stop or target.

In hindsight, today's chart is beautiful, in real time I struggled with the pace of the movement. I think that is what did me in, it just seemed to take so long to do anything.

I stopped at yesterday's profit, so on the week I am flat.

I have a bunch of things I gotta do this morning so charts will be posted later on....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #677 (permalink)
 tderrick 
Nashville, Tennessee
 
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The same old battle we both deal with....

When to hit that close button or let it battle and hit the stop... Jeez, I hate that...

Lately, I have been trying to pick entries so precise that it is almost always moving in my direction. This
may be easier to do in TF than the CL... I am bailing pretty dang quick if it stalls, also. I would rather have
commissions than a $200 stop.... I can't stand full stops....

I will be wrestling with that aspect for a while, I'm sure!!



Anyhoo.... BE is Not bad is it... Plenty of opportunities await...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #678 (permalink)
 itrade2win 
New York
 
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Hey AZ,

I'm confused, are you referring to the CL market? Because on my charts the market had a bearish drive pattern right out the gate and had several short trade setups the whole day. Sorry to hear about your daily results, better luck tomorrow.

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  #679 (permalink)
 tderrick 
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itrade2win View Post
Hey AZ,

I'm confused, are you referring to the CL market? Because on my charts the market had a bearish drive pattern right out the gate and had several short trade setups the whole day. Sorry to hear about your daily results, better luck tomorrow.

Oh... he's an oil man, alright. A regular T. Boone Pickens...

Well , that would explain his outcome, wouldn't it.... I'm sure he'll set us straight, just as soon as he returns....


AJ
Nashville, Tennessee


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  #680 (permalink)
 PandaWarrior 
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itrade2win View Post
Hey AZ,

I'm confused, are you referring to the CL market? Because on my charts the market had a bearish drive pattern right out the gate and had several short trade setups the whole day. Sorry to hear about your daily results, better luck tomorrow.

Well I start 30-45 minutes before the open....that was pretty bullish....I missed most of that but there were a couple of opportunities at the very top of the range......I was a little nervous in there to be sure but since I am looking for 10 ticks a trade, I don't need the earth to move for me to make money. But still I waffled in there...

As for the shorts, they sure enough set up right out of the gate....I took lots of trades but the pace was pretty slow for me and it was just grinding down without any real commitment to decent lows. Instead I got a new 1-3 tick lower low and then a retrace all the way back up to the entry point again......almost nothing went all the way to target without a serious pull back......and I just got tired of it and became way to aggressive in moving my stop to BE. I ended up giving back yesterday's gains a couple of ticks at a time all the while it was grinding down.....Igot terrible fills today as well....a lot of my BE stops were slipped a tick or two.....and there were several of those.

I'll not make this mistake again. I had great entries....nearly all the trades I took today were excellent entries and yesterday they would have hit my profit objectives in a minute or so if not seconds.....not today.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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