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The Adventures of an Intuitive Daytrader
Updated October 17, 2018
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The Adventures of an Intuitive Daytrader
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#101 (permalink
Amsterdam Netherlands
Posts: 9 since Jul 2018
Thanks: 3 given,
7
received
brunobt
It's been almost 2 months since I started trading crude oil and things are going pretty well.
I think that the content of this thread is not useful the way it is (I don't want to post my
PnL without a specific reason). Besides, my methodology is too subjective (but really very simple) and I can't describe the logic behind it (even to someone in the same room). "Confluence" is a relatively easy concept to grasp, but it's hard to apply it successfully in real-time...
Of course it's still a trading journal, so I'll write here only stuff I consider relevant, like the MANY mistakes (mostly cognitive
biases ) I do on a daily
basis .
------------------------------------------------------------------------
Yesterday I had my first loss (-7k net). I was 8k positive and decided it was not ok: in my "analysis", the market had to fall 50 cents up to a dollar (!), 'cause I needed to prove myself I could do better than I've been doing so far. So I shorted 21
contracts @71.01 before lunch and got distracted doing stuff for hours... waiting for the market to obey me
. And I was willing to hold my position till the end... and so I did. I exited before the interruption with 7k in losses for the day.
I wasn't even mad with myself. It was a cheap lesson, considering my stupidity. Today is another day and everything is still wonderful.
cheers
The following 2 users say Thank You to prof for this post:
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#102 (permalink
Niles, Michigan
Posts: 73 since Sep 2018
Thanks: 83 given,
111
received
brunobt
It's been almost 2 months since I started trading crude oil and things are going pretty well.
I think that the content of this thread is not useful the way it is (I don't want to post my
PnL without a specific reason). Besides, my methodology is too subjective (but really very simple) and I can't describe the logic behind it (even to someone in the same room). "Confluence" is a relatively easy concept to grasp, but it's hard to apply it successfully in real-time...
Of course it's still a trading journal, so I'll write here only stuff I consider relevant, like the MANY mistakes (mostly cognitive
biases ) I do on a daily
basis .
------------------------------------------------------------------------
Yesterday I had my first loss (-7k net). I was 8k positive and decided it was not ok: in my "analysis", the market had to fall 50 cents up to a dollar (!), 'cause I needed to prove myself I could do better than I've been doing so far. So I shorted 21
contracts @71.01 before lunch and got distracted doing stuff for hours... waiting for the market to obey me
. And I was willing to hold my position till the end... and so I did. I exited before the interruption with 7k in losses for the day.
I wasn't even mad with myself. It was a cheap lesson, considering my stupidity. Today is another day and everything is still wonderful.
cheers
The following user says Thank You to spetscom for this post:
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#103 (permalink
Distrito Federal/Brazil
Experience: Intermediate
Posts: 83 since Apr 2014
Thanks: 77 given,
119
received
Today I started to trade up to 45 contracts .bid or 1 tick below/above, not market orders), even out of the main session hours (the market just absorb it like it was nothing);TOS is freezing constantly during and after price spikes, it’s frozen right now and I just had to exit a position using the iPad.futures.io mobile app
The following user says Thank You to brunobt for this post:
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#104 (permalink
the coin hunter
virginia
Experience: Intermediate
Platform: ninja
Trading: NQ
Posts: 6,029 since Jun 2009
Thanks: 845 given,
7,893
received
brunobt
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#105 (permalink
Distrito Federal/Brazil
Experience: Intermediate
Posts: 83 since Apr 2014
Thanks: 77 given,
119
received
Today I was scalping (5 and 1-minute chart) when prices went down strongly against my position. I decided to go with the flow and inverted to take advantage of the possible second leg down. I was particularly happy because I added more contracts and nothing was different (no fear and no greed from a psychological POV).breakout and added 20 contracts 20 minutes later, when prices went strong against me (you should expect that before a spike in your direction).
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#106 (permalink
Niles, Michigan
Posts: 73 since Sep 2018
Thanks: 83 given,
111
received
brunobt
Today I was
scalping (5 and 1-minute chart) when prices went down strongly against my position. I decided to go with the flow and inverted to take advantage of the possible second leg down. I was particularly happy because I added more
contracts and nothing was different (no fear and no greed from a psychological POV).
After a 2-hour pause, I noticed that prices were about to test the "long term" trendline. I shorted -10@71.57 in the microtrendline
breakout and added 20 contracts 20 minutes later, when prices went strong against me (you should expect that before a
spike in your direction).
Attachment 257451
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