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Jagui's journal to freedom


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Jagui's journal to freedom

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  #31 (permalink)
 jagui 
Italy - Roma
 
Experience: Intermediate
Platform: Ninja + proprietary
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Posts: 200 since Jul 2010
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No trades for today. I was busy with my job, I got a very good project from a bank, nice profit but they wanted me all day for the briefings and I couldn't say no. While this is good news, I had to be at disposition and kiss asses, and I hate to. I really want to become a full time trader also to avoid these situations.

Back to the markets, since I couldn't watch, the BUND developed one of the best MOF I ever saw .
You can see in the chart.

Have a nice weekend!

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  #32 (permalink)
 AR01 
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Jagui,

I have glanced at your thread and I will begin following you. Good luck.

Would you mind posting your template for the settings or provide screen shots? I like to see what others do. I was struggle with figuring out your colors and such. Thanks

Andrew

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  #33 (permalink)
 jagui 
Italy - Roma
 
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AR01 View Post
Jagui,

I have glanced at your thread and I will begin following you. Good luck.

Would you mind posting your template for the settings or provide screen shots? I like to see what others do. I was struggle with figuring out your colors and such. Thanks

Andrew


Hi Andrew, my template is showed in post #5. In other posts I explained also my setups. If you need further informations, feel free to ask specific questions.

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  #34 (permalink)
 AR01 
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Jagui,
Thanks, I'll work through that. One quick question: What's the white line at the bottom. You have many indicators in one panel and that's the one that is confusing me trying to match up.

Andrew

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  #35 (permalink)
 jagui 
Italy - Roma
 
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AR01 View Post
Jagui,
Thanks, I'll work through that. One quick question: What's the white line at the bottom. You have many indicators in one panel and that's the one that is confusing me trying to match up.

Andrew


In the bottom panel I have 3 Stochastics and 1 Williams%R.
The white bold line, which is dubbed as the B-Line, is a Stochastic(35,10,1).
In Ninja you have to enter the parameters in this order: 1, 35, 10 (Ninja has these parameters in a non-standard order).
See screenshot.

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  #36 (permalink)
 AR01 
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jagui View Post
In the bottom panel I have 3 Stochastics and 1 Williams%R.
The white bold line, which is dubbed as the B-Line, is a Stochastic(35,10,1).
In Ninja you have to enter the parameters in this order: 1, 35, 10 (Ninja has these parameters in a non-standard order).
See screenshot.

Got now. Thanks. I'll study it and see if it tells me something different than I already do. Awesome.

Andrew

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 AR01 
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jagui View Post
I tried to write a trading plan to start trading seriuosly, and soon I realized that this could easily be just another formal excercise. It serves you nothing to write the most perfect trading plan in the world if you don't unconsciously believe it.

So I relaxed and looked deeply into myself and found out that all I need is nothing more than a simple set of rules. I know well that discipline is the area I have to improve if I want a long term success. I'm not a beginner, I have setups, a deep understanding of probability and risk, capital, good money management skills and experience.

What I don't have now is enough time, because I run a small business. I've been tracking my trading errors for 9 months, and they are related to time. These are the errors I did the most, in order of frequency:

  • trades not related to one of my setups
  • delayed entries
  • missed trades
  • poor sleeping

I often did non-setup trades because I felt the urgency to trade to maximize the use of time. During the day I may have only 2 or 3 hours free to trade, so I did not want this time "wasted". Of course I know it is better no trades than losing trades.

I did delayed entries and missed trades because I was doing my other job while keeping the charts open on other monitors, and so I could not be focused enough on following the setups forming, leading to late entries and missed trades, and a poor work too.

At the evening I often work until late, because I have to finish my job, which I didn't do during the day because I was trying to work and trade at the same time => not enough sleep time.

It's amazing how powerful keeping a trading journal here can be. Just writing this post has made so clear that a better time management will improve my trading by removing the main source of errors.

Another weakness is failing to wait for the second target and closing half of the position too soon. I usually have two targets and can almost always spot a good second target but I often fail to wait and close the position too soon.

Other errors are very rare. I never do revenge trading, overtrading and news trading.

I have a day job and I try to trade before I go to work. Sometimes I believe I pull the trigger too quickly because I feel pressed for time also. This is one of my demons I continually have to fight. But I also wonder if I didn't have my job if I would still pull the trigger to soon. Right now that doesn't matter because regardless I need to stay patient.

thanks for your journal

Andrew

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  #38 (permalink)
 jagui 
Italy - Roma
 
Experience: Intermediate
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Posts: 200 since Jul 2010
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What a mess!

Today I should not have traded. I felt tired and unfocused. Even if I was net positive for the day, I did several mistakes.

1) A non-setup trade on FGBL, which was stopped out.
2) Three scalping trades on 6E made for revenge, all wrong.
3) A final news trade on 6E, which closed with a profit, turning the day into net positive.

Broken rules:
  • Take trades only according to my setups
  • Don't trade around news time
  • Perform a mental reset after each trade
  • Don't trade when not feeling calm and confident, or when can't be completely focused
Result: +175$

Don't know what to think. It was pure luck I didn't lose a ton.
Well... let's move on!

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  #39 (permalink)
 jagui 
Italy - Roma
 
Experience: Intermediate
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Trading: Index futures, Forex, Stocks
 
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Posts: 200 since Jul 2010
Thanks: 280 given, 287 received

Today was a good day, at least I broke no rules, so I'm satisfied.
I took four trades, all winners:

1) This was a slingshot long on the BUND. For some reasons I didn't like the trade flow on volume charts following my entry, so I closed both contracts for a few ticks profit.

2) A perfect first pullback entry on the 6E. To my big surprise I watched Ninja Trader closing the trade at 1 tick profit. I didn't hit any close button or moved any stop. After investigating, I discovered that last night I played with the ATM strategy parameters, and forgot to set them back to their original values. Of course this setup was a runner...

3) A couple of quick scalping trades from tape reading. Lots of buyers repeatedly didn't let the price go down more than 2-3 ticks, so a few ticks were offered.

Results: +$217.50

I'm happy because I felt calm and confident all day and I stopped trading when I become tired. And without the ATM error I could have made much more.

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  #40 (permalink)
 Big Mike 
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jagui View Post
Today was a good day, at least I broke no rules, so I'm satisfied.

I'm happy because I felt calm and confident all day and I stopped trading when I become tired. A

Excellent work, keep it up!

Mike

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Last Updated on October 8, 2010


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