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AJ's Journal
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AJ's Journal

  #511 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Rethinking Trading ETH ?

OK.... I may have to rethink my trading hours.


RTH

Only With Trend entries.
Cutting losses very short and letting winners run.

Granted this was a perfect trend. The 20ema was locked with the VWAP at a 45 degree angle across my
screen. I new that thing would be a brick wall when Price touched it.

I think I cast my trend demon out!!! I just have come back to this chart and refresh myself on what
a great trend looks like and how I traded it today.

I was even able to scale in on one trade because PA tested the 20 ema again while
I was in the original trade with locked in profit. I just couldn't let it go, right? I knew the TF
was on a journey to major hourly support and it almost always gets there.


hmmmmm

I get it now.

The RTH is not nearly as daunting as I thought it would be. My entry method makes it quite stress free.
Sometimes I don't get filled. A couple times I was stopped out. The RR is over the top nuts.

This was with one car. The potential is mind boggling.

I am still starting out small as described in my prior posts, but I may move my goals ahead a bit quicker.

small steps, small steps...

Let's just see if I can make $300 a day for a while, then we'll see. It's so easy to think with no pressure.

Just a little more practice in the RTH.

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AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; July 10th, 2012 at 11:42 PM. Reason: idiot
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  #512 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Live SIM

I'm going to Live SIM trade tomorrow with the TF boys to test my internet connections and my mind.

(Channel 2)

I have been doing a lot of FF work in my replay studies just to cover more setups. Let's see if I can not go
nuts when it's real time.

This will be good for me. Can't wait!!

Damn, I'm pumped!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #513 (permalink)
Attitude is everything.
Dallas, TX, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, T4
Broker/Data: IQFeed
Favorite Futures: 6E
 
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Posts: 358 since Oct 2009
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Good Luck!


Good luck man!

I'm so grateful for live sim (and that my broker has let me do it for so long!).

I know there are a lot of people who argue against sim'ing, and most are well-meaning, but no one knows better than you do when you are ready or not (and it's not their money you're trading with).

I'm very fortunate that my sim platform is identical to my live platform and, having done plenty of live trading on it, find that the fills are extremely realistic - many times my limit order will be hit multiple times (but not exceeded) and I'll never get a fill.

Here's a good post by Lord Tedders about sim trading.

Anyway have great first "live" trading day!

"Is it hard? Not if you have the right attitude. It's having the right attitude that's hard." - Robert Pirsig
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  #514 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
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First Live Sim Day

Well, good news and bad news.

Good News

I made money


Bad news

I made every mistake a trader can make

It started out calmly enough. I was up a hundred or so, then the clock started ticking....slowly....slowing.....
I sort of went nuts!! The leak started at the the first boredom trade that netted + 4. Then all types
of trades I know to avoid started. I even reversed - Twice!! It's like I was possessed !! lol

Looking back, after the dust settled, I realized I was in my favorite environment. A channel

Did I trade my plan - no

Did I act on larger time frame price action that I knew had a 90% chance of doing what
I thought it would do? no

Did I honor my daily stop loss? no

Now, there is a bright side. Once I just let my mind go and just started trading, I worked out
of the hole quickly.

But, all of this has no basis in reality. Would I have made all those crazy trades to get in the hole
in the first place? no

Would I have traded like a millionaire to get out of the hole? no

***** this is the curse of SIM+++++++++++++

You know nothing is on the line, so you just do....... whatever - .....good or bad.



So, somewhere in the middle lies the truth. I know how to trade. But, my emotions are holding me back.

I did myself an injustice, albeit mostly out of necessity, In Not running the Market replay closer to real time
consistently. The trick of this game is the waiting and the waiting and the waiting.......

I need to take it easy on the chat room, Other peoples trades started working into my mind and leaving
me in the middle. It also didn't help that I was practicing on the perfect trend formation the day before.
I'm too new.... I'm easily influenced.

So, I will work on my fading technique while keeping an eye on the larger Time Frames to see when to let one
run.

Hey!! It was a perfect first sim day!!!

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AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #515 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
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Posts: 3,155 since Mar 2010
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tderrick View Post
***** this is the curse of SIM+++++++++++++

You know nothing is on the line, so you just do....... whatever - .....good or bad.

I think if you trade sim like there's nothing on the line, then it will be hard to make it past the sim stage. Sim must be traded as though it were real. Otherwise there is no progress and nothing to base confidence on. Just my two cents.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #516 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
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Posts: 2,027 since Jul 2011
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wow, the "crazy" part in the screenshot looks like you were scalping YTC scalper style like indextrader7. Some ideas that may help. Maybe join a live trading room for a while either temporarily , or on a trial where a host waits and calls for trades. There's a bunch of scam trading rooms out there where you can trial for a week or two, then wave bye bye, then move on to the next one. The goal is to learn to treat the sim like real. Maybe you'll need to do some live trading at a small amount. Then once you get the feel, then replicate that in sim in live time.


Last edited by Cloudy; July 11th, 2012 at 05:27 PM. Reason: rambling
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  #517 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received

Trade the smallest size and product you can, cash, until you can follow your own trading rules.

Do not collect 200 dollars, do not pass go, until you can do this repeatedly and consistently.

Small size! Small risk!

Sent from my DROID RAZR using Tapatalk 2

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #518 (permalink)
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Futures Experience: Intermediate
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tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Changes

Well, my career as a trader started this morning.

I woke up in the middle of the night with a whole new plan.

It's simply time to do this thing.

From now on, I will only be posting live cash charts.

I will be using the market replay in double time mode to study PA.


Trade 1

This trade may have changed my career.

Even though the market was screaming sell, I placed a little fade entry long simply because Price
APPEARED to be at the bottom of the run.

so.... my first trade live was a poor trade that, as the odds would dictate, lost.

Here come the old emotions - anger, dismay, self-doubt.
I was ready to just shut down the computer and steam.
Then, a strange feeling overcame me - resolve.

I am not going to stop trying to be a good trader, so..... Let's be a good trader.

I was so tempted to go right back in long... but this time I caught myself and I made myself learn from
the mistake. I'm telling you guys, nothing burns in brain RAM more than losing money. I will Never
forget that trade. The first trade to the rest of my trading career - a game changer.
I cut it short quickly, so I only lost 4 ticks but in signified much more.

I let price run. ...and run .... and run and I let myself learn instead of just fuming that I was wrong.
The correct entry was short at the little edge that formed up at the 20 ema. Cool, noted.

While I was watching, I was learning - A first for me after a losing trade.
The bars to fade are the huge 5 min bars that almost always pull back at least 10 ticks.
Those were two quick fade opportunities missed. Cool, noted.

I patiently waited for the deep PB that I have learned to look for.
I placed the order at the perfect spot and gathered a quick 1 : 2 RR trade.

The next time I stalk a trade like this on a big trending day, it will be to let it run to my daily target goal -
30 ticks.

But, not today. Today, I was victorious over the markets and, more importantly, myself.

I have put the trading demons behind me. I'm sure they will show back up and breath on the back
of my neck, but they are behind me.


My new rules.

Same cash management, once I get my live legs. ( I may stop trading a few more times as soon as I"m
in the green) I just need to get used to the heat a bit.

I will only fade huge over sold / bought bars.

I will now trade with the trend. I will stalk trends. I will lust after trends. I will become a student of the
trend. This is were the big money is.

I will look to scale in an additional car as soon as I have profit locked in on car one
and the PB is perfect to the ema / vwap for car two.

I will try to stick to the 3 trade rule. Certainly no more than 5.

Three losses in a row will put me right at my daily stop.
Three trends entered should, surely, gather me 30 ticks.

Hey cats!!!! Aj's LIVE and in the hood

Two days, Two green numbers.

I'm on my way.

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AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #519 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,221 received

Congrats AJ.

Now just resist the urge to change everything daily or after a bad trade. Your charts are the very last item on a long list of items that would affect your profitability on any given day.

The 3 trade rule is a good idea for the next couple weeks for sure.

Keep risk as small as you possibly can, and know it will take months of cash trades for you to start to really get in the groove of things and sort things out.

Enjoy, and learn from every trade.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
  #520 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

RTH


Another little update.

I will be trading the RTH. Or, at least deeper into the ETH london session.

I forgot to mention that I almost pulled the trigger on that one fade of the strong 5 minute bar,
but I reflex glanced at the DOM (which you learn to do in low volume markets) and the spread was
WAY skewed.

So, since I need my entries to be virtually to the tick, I will need the liquidity.

I need the speed also.. I have been training in FF for so long in Market Replay that even RTH movement
is tough to bear

yes..... moving forward


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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