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Diary of a simple price action trader


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Diary of a simple price action trader

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  #131 (permalink)
Syracuse, NY
 
Experience: Intermediate
Platform: Ninja Trader
Broker: Mirus Futures/Zen-Fire
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Posts: 93 since Jan 2011
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i use the lbr310...but just to look at the MA to determine how long and trend will continue....and when to look for a reversal....probably using it wrong but the MA gets to the top or bottom of the histogram....a reversal is about to occur....it looks different on a unirenko....much easier to read...for me anyway.....

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  #132 (permalink)
Netherlands
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: IB, NinjaTrader Brokerage
Trading: Futures
 
Mich62's Avatar
 
Posts: 296 since May 2012
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200828 Week in review

Another good week, again the best since the start of my journal.

Last week's results were more than twice as much as the week before which was the best performing week up till then. Last Friday was the best performing day closely followed by last Thursday. The increase in profit made last week is mostly due to scaling up.

After three months of journaling I see no need to go on any longer. I think it's time to wrap it up. Journaling is no longer useful at this moment as all objectives for starting the journal have been met and I want distractions kept to a minimum going forward. It was an interesting 3 months period wherein I shared my method, my trades, my mistakes, my reviews and, all together, shared my journey to become profitable. I really have nothing new to add anymore than already mentioned. This 3 months period of journaling has helped me to resolve some loose ends and I want to thank everyone who has contributed in any way whatsoever. I hope my diary has been (and will be) of some use for aspiring traders. Now it's time to fully concentrate on trading and further scale up in contracts.

To sum it up: start wise (sim), continue small (live/micro), develop a consistent approach / methodology - by thoroughly reviewing what works well and especially by analyzing your mistakes - and then grow your account by scaling up (micro/mini).

I might post once in a while, we'll see. Trade well.

ďThe best moments usually occur if a personís body or mind is stretched to its limits in a voluntary effort to accomplish something difficult and worthwhile .... Flow occurs when your skill level and the challenge at hand are equal" -Csikszentmihalyi

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  #133 (permalink)
Oslo+Oslo
 
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Very nice journal and very educational!

It is incredible what kind of small "hints" the market gives us if we don`t clutter our charts with tons of fancy indicators. Price is simply "agreement" or "new price discovery"

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  #134 (permalink)
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Mich62 View Post
After three months of journaling I see no need to go on any longer. I think it's time to wrap it up. Journaling is no longer useful at this moment as all objectives for starting the journal have been met and I want distractions kept to a minimum going forward.

It's been good to read your journal. I understand reaching the point when journaling no longer seems like the thing to do, but it was good while it lasted, and I have enjoyed it and learned from it.

Do post whenever the spirit moves you, and enjoy your trading.

Thanks for sharing the trip.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #135 (permalink)
Netherlands
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: IB, NinjaTrader Brokerage
Trading: Futures
 
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bobwest View Post
It's been good to read your journal. I understand reaching the point when journaling no longer seems like the thing to do, but it was good while it lasted, and I have enjoyed it and learned from it.

Do post whenever the spirit moves you, and enjoy your trading.

Thanks for sharing the trip.

Bob.

Thanks Bob, I will. Take care.

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  #136 (permalink)
Gaborone, Botswana
 
 
Posts: 13 since Jul 2020
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Hi @Mich62, thanks for sharing your progression in this journal. I am wondering if you follow any particular system in your trading? Reading through the thread, I see you mention Wyckoff, Brooks, Volan, Beggs, etc...

Do you follow any one of their teachings? Or is it some combination of everything, along with your own methods?

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  #137 (permalink)
Netherlands
 
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sheldonxp View Post
Hi @Mich62, thanks for sharing your progression in this journal. I am wondering if you follow any particular system in your trading? Reading through the thread, I see you mention Wyckoff, Brooks, Volan, Beggs, etc...

Do you follow any one of their teachings? Or is it some combination of everything, along with your own methods?

Hey sheldonxp, I don't follow any of them strict to the letter (or follow any particular system) but picked up some things of all mentioned (and many more) and, after much practice, molted it into a kind of personal method (based on structure, price levels (S/R), momentum and volume). I would say I learned, and use the most, from Wyckoff (David Weis) and Linda Raschke. Brooks, Volman and Beggs are helpful in understanding price action. Hope this answers your question.

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