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18 year old attempts to reach Trading Nirvana


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18 year old attempts to reach Trading Nirvana

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  #1 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received

I'm finally making the trading journal! If there is one thing that I have learned from all of you so far on this site, is that I need to find my own way and trust myself. I found myself at one point trying to use tons of different indicators and multiple timeframes and I found that it just isn't my type of thing. It leads me to overthinking and becoming indecisive.

I am going to be trading intuitively. To me, intuitive trading does not mean "my gut says to put it all on red!" to me, it is a culmination of experience of simply staring at the same charts over and over again. I do not think someone who is one month into trading can try the intuitive approach, unless they were some sort of savant. I feel by staring at the charts( I also use the T&S Tape) you begin to subconsciously become aware of price movements, certain things that happen in the instrument that tell you "I should get short" or vice versa.

My only issue with intuitive trading is that you cannot backtest it. I would like to gather statistical evidence as to how well I trade using the intuitive approach. Therefore I have created a sim account with 2k in it and I will be tracking my next 20 trades with it to see how I perform. I chose $2,000 because it is barebones. I want to see if my approach will work by using only one contract. No luxuries (Scaling in, taking partial profits, etc). So far I have already made two of the twenty trades and they are both winners.

After the 20 sim trades, assuming all goes well, I will be moving over to intuitively trading my real account.

I am using this journal also to help me have some accountability with my routine and to take part in this great community. I need to be more accountable with my morning routine, I am a night owl and I really have a hard time getting up in the morning.

What I am using:

1-minute chart (TOS)
Daily Chart (TOS)
Execution: NinjaTrader
Instrument: NQ
I know that chart setup is weird, but I have so much time experience with the 1m charts that to me they produce much more than noise ;P

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  #3 (permalink)
 
 
Posts: 96 since Sep 2018
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spetscom View Post
I'm finally making the trading journal! If there is one thing that I have learned from all of you so far on this site, is that I need to find my own way and trust myself. I found myself at one point trying to use tons of different indicators and multiple timeframes and I found that it just isn't my type of thing. It leads me to overthinking and becoming indecisive.

I am going to be trading intuitively. To me, intuitive trading does not mean "my gut says to put it all on red!" to me, it is a culmination of experience of simply staring at the same charts over and over again. I do not think someone who is one month into trading can try the intuitive approach, unless they were some sort of savant. I feel by staring at the charts( I also use the T&S Tape) you begin to subconsciously become aware of price movements, certain things that happen in the instrument that tell you "I should get short" or vice versa.

My only issue with intuitive trading is that you cannot backtest it. I would like to gather statistical evidence as to how well I trade using the intuitive approach. Therefore I have created a sim account with 2k in it and I will be tracking my next 20 trades with it to see how I perform. I chose $2,000 because it is barebones. I want to see if my approach will work by using only one contract. No luxuries (Scaling in, taking partial profits, etc). So far I have already made two of the twenty trades and they are both winners.

After the 20 sim trades, assuming all goes well, I will be moving over to intuitively trading my real account.

I am using this journal also to help me have some accountability with my routine and to take part in this great community. I need to be more accountable with my morning routine, I am a night owl and I really have a hard time getting up in the morning.

What I am using:

1-minute chart (TOS)
Daily Chart (TOS)
Execution: NinjaTrader
Instrument: NQ
I know that chart setup is weird, but I have so much time experience with the 1m charts that to me they produce much more than noise ;P

So, if the SIM experience is realistic, meaning you have to wait in line and do not get immediate fills, you know the process. I followed the same basic path and it took me two years of SIM and live to get going profitably. I am a very bright math guy but no savant.

Most sniper's, scalper's and short term traders use 5 minute charts. I've tried many different time frames and I use 5 minute candles only. Made sense to me to be on the same page as the others.

My screenshot is a culmination of 3.75 years of very hard analytical study. My algo is successful for the last 21 months.
These results are not typical of me; $250/day is more like it.

Use the SIM like you state for 1 only contract. This will give you a perfect report to study and study it. Doubling up to save your statistics doesn't produce an accurate report. When you can beat the SIM consistently, then you are ready to put cash on the table.

Know the best times you profit and the worst times lose and follow those patterns. For me, I'm a momentum trader so the mornings are best but not until 1030 EST. Lunch is slow and the afternoon is slower than the morning.

Get over sleeping late and thinking it is cool. This is for grownups so take that step up.

I started at 54, wish i had your opportunity. Shouldn't blow it-

EX

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  #4 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received


TraderEX View Post
So, if the SIM experience is realistic, meaning you have to wait in line and do not get immediate fills, you know the process. I followed the same basic path and it took me two years of SIM and live to get going profitably. I am a very bright math guy but no savant.

Most sniper's, scalper's and short term traders use 5 minute charts. I've tried many different time frames and I use 5 minute candles only. Made sense to me to be on the same page as the others.

My screenshot is a culmination of 3.75 years of very hard analytical study. My algo is successful for the last 21 months.
These results are not typical of me; $250/day is more like it.

Use the SIM like you state for 1 only contract. This will give you a perfect report to study and study it. Doubling up to save your statistics doesn't produce an accurate report. When you can beat the SIM consistently, then you are ready to put cash on the table.

Know the best times you profit and the worst times lose and follow those patterns. For me, I'm a momentum trader so the mornings are best but not until 1030 EST. Lunch is slow and the afternoon is slower than the morning.

Get over sleeping late and thinking it is cool. This is for grownups so take that step up.

I started at 54, wish i had your opportunity. Shouldn't blow it-

EX

Thank you. I have already been keeping track of times and I feel like before 9:30 Am and after 10:15 AM is when I tend to do best. The open is just too insane for me.

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  #5 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received

Woke up on time: Barely.
Went for a walk: No
Meditation: Later today

I knew when I woke up and checked the NQ on my phone that I probably wasn't going to be placing a trade today I am still sitting in front of my monitors as I write this, but I think that a 2K account has no place in a day like this where I am seeing 50 pt swings in the early morning. It is one thing if we are trending like we were a few days ago, but now the chart is just becoming sporadic. Will still watch until about 11am to see if anything happens.

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  #6 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received

Well, I'm gonna call it for today. This price action is too crazy for an account of my size. TOS actually froze completely for a couple minutes at the open. NT was fine however. I hope Ogre and the rest of you end today green, but I'm just gonna relax today .

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  #7 (permalink)
Evans GA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
 
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Posts: 550 since Jul 2018
Thanks: 902 given, 1,645 received


spetscom View Post
Well, I'm gonna call it for today. This price action is too crazy for an account of my size. TOS actually froze completely for a couple minutes at the open. NT was fine however. I hope Ogre and the rest of you end today green, but I'm just gonna relax today .

I stopped too. Small 20 tick profit. My initial stops are set at 40 ticks and they looked way too close for the price movement we are having. Not worth the risk in my opinion.

Will try again Friday or perhaps later today if it calms down some.

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  #8 (permalink)
Distrito Federal/Brazil
 
Experience: Intermediate
 
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Posts: 83 since Apr 2014
Thanks: 77 given, 119 received


spetscom View Post
Well, I'm gonna call it for today. This price action is too crazy for an account of my size. TOS actually froze completely for a couple minutes at the open. NT was fine however. I hope Ogre and the rest of you end today green, but I'm just gonna relax today .

ToS (charts) froze here too for half an hour. It seems it was not prepared for that volatility and volume.

The price ladder was ok

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  #9 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received

I did not trade today nor plan to. With the craziness of the markets this week and today being a Friday I decided I was gonna spend some time with family and friends.

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  #10 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received


Helping set up the cafe this week. We got all of our big equipment in and Iíve got to test tons of shots of espresso. Iím still checking in on the markets when I can. Hope you all have a good week


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  #11 (permalink)
Evans GA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
 
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Posts: 550 since Jul 2018
Thanks: 902 given, 1,645 received


spetscom View Post
Helping set up the cafe this week. We got all of our big equipment in and Iíve got to test tons of shots of espresso. Iím still checking in on the markets when I can. Hope you all have a good week


Sent using the futures.io mobile app

After 15th "test" espresso:


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  #12 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received


TradingOgre View Post
After 15th "test" espresso:






yeah basically.


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  #13 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received

I took a trade today on my live account. My intuition just gave me such a powerful feeling that I couldn't justify just placing it on SIM. I managed to take about 14 ticks of profit. I planned on taking more but the NQ shot upwards so quickly that I got filled before I could even move it but hey, I'll take $70 in 3 minutes any day

I am a short-biased trader. I came from shorting NASDAQ small caps that were garbage companies, and so I tend to always look for a short trade, not necessarily a good thing. But I know when I get the feeling to go long, I should probably take it, since I much prefer being short.

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  #14 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received

Don't think I will be participating in this morning session I admire those that can trade this crazy action. I actually tried to get short this morning at 7274 right before the open but didn't get a fill I'm gonna check back in around 11:00 to see if the action is still at this pace.

I notice when the market is this volatile, the pre-market session (is that what you guys call it in futures? That's what we always called it in stocks) is actually pretty clean and has decent volume. I notice that most of my trades are occurring before the market even opens.

So far today was a pretty good day. I had trouble getting to sleep last night, I was testing espresso till 10PM. I still got up on time though, which is honestly a big feat for me.

Do you guys trade this action? If so, what kind of methods do you use?


-Cade

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  #15 (permalink)
Niles, Michigan
 
 
Posts: 73 since Sep 2018
Thanks: 83 given, 111 received

It is 8:55 AM as I write this. I have already traded for the day. I managed to take 21 ticks short on the NQ. That is a big step up for me honestly. I opened my futures account back in August and I lost money consistently for awhile even while employing proper risk management and minimizing bad practices.

This past week I finally feel like I started getting the hang of things. I have won two days in a row, but that's no big deal. But these past two winning days I have been a totally different trader. I have been patient, waiting for a proper play to reveal itself, and then when I see it, I am aggressive and do not hesitate to put on my position.

I have noticed some issues I have to work on, and that is letting my profits run. I managed to take the entirety of this pullback, but still. I want the winners to be big enough to pay for the losers. I feel like if I could put 2 contracts or more on it would help with that because of taking partial profits.

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