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Maybe a little bit different journal

  #1 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89

Heya all. I wanna start writing this small journey of mine, because it might be helpful for me and hopefully for you, but more importantly, because it might be fun to write and to read.

So little bit of my background. Im kinda young (I guess). Im 30. From europe with a nice 9-5 job in IT sector. Im making mobile banking app for iOS. Im working there for almost 7 years. Started during collage.
Well, last year we were hit by pandemic disaster. I stayed working from home. Its nice I like it. I live with 2 flat mates so its not boring and I have a social contact. Not bad at all.
During Christmas there wasnt much of a work and I got bored. I was in a middle of buying my own flat. Nice position in city center. But expensive. So I started looking for some additional money making strategies. My rules were quick money and having fun

I had 3 ideas:
  • Win a lottery
  • Start trading
  • Make a multimillion worth mobile app

And all of you know what I tried. Obviously lottery well … no
I started my journey with new mobile app. I thought maybe I will learn sth new that I can use in my day job and maybe I will make also some money that I can spend on my new flat. I got tired quickly, because I didnt want to do what I was doing in my day job also later in evenings for another few hours.

So I looked for sth completely different. I looked into trading. And well … here I am Bare with me pls here for a sec and I will get to today point in a sec.

So I had literally zero knowledge about trading. I knew there are some stocks and bitcoin. That was it. So I looked into youtube and found out there is sth called forex and after few hours, my YT channel got filled with trading videos and nothing else. So obviously I found these 5 min a day to become millionaire” trading videos. And I was like yeeeeah! thats it!

Fortunately it took me around 15 mins to found out thats really not true
But then there was one video and that video changed everything. Unfortunately I cant remember name of it, but there was this person and he tried this experiment, where he will make 1000$ account and try trade futures. Obviously he lost it in 3 days. He wasnt a trader, he was a youtuber and he was making entertaining stuff. But he explained what futures are and that you have to choose platform and broker and like very basic stuff. Like the core that you have to have before even start to think about trading.

And it got me. It really got me. Because I saw how interesting it can be. So I started learning. Charts here, charts there, analysis, price action … everything.

I found other interesting stuff on YT. I got hooked by live traders. It looked so easy by them. Specially I liked one of them. He was trading (and still is) NQ. He was looking at delta and volume at price. Talking sth like ooooo sellers are in control and stuff like that. Back then I didnt really understand anything of that. But he was making money.
Now I know that his channel was more for entertainment then for education or real trading. But Im glad I found him, because that was the first time I got touch with real trading.

So I downloaded tradovate, because he was using it and they have free trial.
Oh that feeling when I first put my buy order and it went up and I made 100$ in sim trial account.
I just did buy order. Had no real indication for any direction bias. It was just 50/50 trade. I just wanted to try. And I wanted to try again … and again … and again … and then I wanted to know why market is doing what is doing. Can I somehow predict any movement?

And that started everything. I got hooked. Like really. I spent more hours a day learning trading then doing my 9-5 job. I was like a sponge for new informations. Oh damn there ale lots of informations. Eventually I had to learn which infos are worth and which are just scams. And that was an issue. There are indicators, RSIs, MACDs, MAs, volume, delta … there is everything!!! And I got lost. So much! Funny thing is, it got me hooked even more.

I wanted to crack it. Wanted to figure it out.

And here we are After almost 4 months I found out, I cant crack it. I dont even know if I ever will. Or … if its even doable. Maybe not. Maybe what is enough is to figure out just some parts. And stick to them. Well … this sounds very similar to what I was reading and listening everywhere past few months.
“Make your strategy and precise rules and stick to it no matter what!”
Well … I still cant find it. Im still looking, trying everything and looking which one will click for me. There is one thing … order flow and scalping … I know I know … but pls bare with me for another sec here

I certainly know I cant crack anything in just 4 months and specially on my own.
What I learned so far. Price is moving. There are patterns which can indicate you a more probable move. But why are there these patterns? I went deeper. It looks like it has to do sth with supply and demand. And its looks like volume plays quite important role. So price is moving from points where one site is not satisfied and will move market to a point where both sites are satisfied and we have some kind of range movement, until we go away from it and find another range. And it looks like this happens in all timeframes.

So why scalping? Maybe … better is why smaller timeframes? Honestly? I dont really know well … I would be really nervous to hold my position for hours. I know I cant swing trade …. I wont be able to sleep. I certainly am looking at higher timeframes for finding bigger picture of the market. Finding zones of interests. Maybe some support and resistance.
But I just like this idea of looking how many buyers and sellers are there at specific price. What are they doing. How big are bids and offers. Are there spoofing orders? Icebergs? Absorbing? Well you got the idea.

So before going through my setups and analysis process (which is funny, because it looks like there isnt any yet, but we will get to it) I will go through my platform and education.

I spent very long time finding my platform. After month I settled up with Sierra Chart. Its just awesome! It took some time to set everything up, but damn ... its so great. There is everything. Community is awesome and I dont think there isnt sth that is somewhere else.
As I mentioned already, I want to learn orderflow. DOM in sierra is superb. Jigsaw might be little bit better, but sierra is second no doubt. Also, sierra has awesome footprint charts. In the beginning I had various indicators. Now I have DOM, heatmap (like bookmap or action vista) footprint and 1 min with 15 min and daily charts. 15 and daily for bigger picture and other for execution. And basically heatmap, footprint and volume is what Im using.

From educational point of view … My first visible setup was fibonacci …. I know I know but it worked. Sometimes But from my IT background this mathematical theory just got me and I had to try it. I even subscribed to eminimind Lots of nice educational stuff and live trading every tuesday. But I wanted more. I mean I wanted to know why some of fibb levels work and some dont.
Well this is why I got interested in orderflow. My first idea was to confirm fibb levels with orderflow. I got deeper into orderflow and I found it very interesting.
Then I found Axia futures youtube channel. Its pure gold. They have very good free stuff there. Awesome footprint and price ladder courses.
Next I love Trade you plan channel. Sierra chart user in ES
My biggest finding was completely random and unfortunately he has no new videos, but because of him I got idea of DOM trading ES. Very nice channel: Christian Anthony
And obviously John Grady’s nobsdaytrading. I didnt buy his live webinar tho. But what I saw from him was just awesome. That is my biggest inspiration. I saw some live trades but it was from few years ago.

And thats one of my problems. Lots of stuff on internet, which are great and man can learn a lot from it, is old. I mean .... it looks like ES is now faster and treasuries are slower. Or maybe not … well maybe its just me and im just really bad.

Ok then …. we are are almost in the end of this first post Introduction.
Why am I doing this then?
To be completely honest. I started mainly because of journal competition and because Jigsaw. I have Sierra and I like it very much. I would still use it for orderflow and chart, but Jigsaw is just the most awesome DOM platform there is. But! There is more. They have … I assume … one of the best courser there is. I think for me. I would love to have this kind of education.

But I would not do this only because of competition. It just kicked me into starting this. I think this might actually help me. I still dont have any real working setup that I can wait for and then execute. Im still in learning phase and I started just looking at setups that can actually work. When I force myself to write them down I can look at them and maybe I will see sth there. Like this aha effect. Like what the heck I was thinking here … this patter never works. Or ahaaaa look at this. This happens all the time and when this happen after this patter there is quite nice chance that price will go this or this direction.

And … I know that here are many very good traders. And maybe I can make some of you smile and maybe you will have some flashbacks from time when you started. I will try to write my journal in slightly more on fun side.
But maybe the most important thing … I know there are also new traders. Somebody that is just starting and its struggling like me. Maybe this can help I guess I wont find any holy grail and I guess I wont find sth that will show new traders how they should trade and which setups they should take. But I know I can show you my mistakes. And I bet there will be many And mistakes are the most helpful.

And I already made some Im writing this after my very first week trading with real money.
So it happened then I started trading live in April. I spent 3 months in sim. I cant really tell if I was green or now, because I went for every trade I could see. Just to found it if it will go as I thought. I then tried to filter out those which were really bad
I was and still am watching mainly ES and treasuries.
So after 3 months I decided I wanted to try it live. I assumed it will be slightly different than in sim (I could be more wrong … its completely different … but on that later). I then made really really small account. And I mean small. Just 500$. I had this idea that it can be maybe enough for some time trading MES (on ES chart and volume).
So today is Sunday and I spent 4 days of live trading. Little bit of spoiler … I managed to loose 20% already. And I had my biggest lesson ever and Im so glad it happened already after just 3 days trading with the smallest account you can imagine.

In next post I will write what happened. I unfortunately cant remember all my trading decisions, But I will try to attach my trades and charts. What I can and will do is write about my lesson and why I lost 20% in one day.

Im gonna trade everyday. I dont think I will manage to post here everyday, but from tomorrow I will try to mark everything and sum it up later here. I still have a day job so its little bit time consuming.

Hah maybe I will write in 3 days that I lost everything and it will by the shortest trading journal ever. Maybe I will just do sim for next few days and write about that. But still, Im really glad that I even started this. Its very interesting to write about my trading experience. The whole trading is so fascinating. Maybe this journal wont be that much about trading setups, but more about me and what trading means for me and how it has changed my life in past 3 months and how it will change in next months (and I hope in next long long years). So more of a journey than journal.

So thanks for this chance and thanks for this forum. Without this forum I wouldnt even try to trade

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  #2 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89

So here we go. In this post (or posts) I will try to sum up what has happened in last week.
As I said, I started with live account and well ... it was disaster. Or maybe not?

Before I start I want to tell you my rules. Very simple rules. Only 1 lot trading and if I got 25$ plus or minus, Im out for that day. As I told you, I wanted to start really small.


Lesson 1: Real money
If anybody is new here and is just starting I cant courage you more to start with real money. It is sooooo different. I cant tell you how much it is different.
Start as soon as possible. But be aware, that you will loose all of it So start small. But it is completely different game!
I got scared. I cant tell you how much I was scared. And I was playing with dollars. Not hundreds or thousands.
Unfortunately I cant show you my first ever live trade, because it is all messed up when I go back in charts and try to display trades I made. But it went well. I was long and price moved 1 point in my direction. Then it started chopping for a sec and I got out. It was a small chop down one or two ticks. But damn I got scared! I was risking 1 point and my target was I think 2. Of course it went up another 2 points. In sim, I would wait. Nothing was telling me that this will go against me. Even if, I could just scratch it. Well ... this was my first ever trade.
I bet when somebody is in sim for months and is profitable .... going live is sooo sooo different. Just try it. In worst case you can still go back to sim.


Lesson 2: Commissions
Well I completely forgot there are some commissions As I was scared I did really really small quick trades. So I was up 25$. I was really happy. Then I turn on commissions, because you have to set them up and bum, I was up only 16$. Commissions ate 36% of my profit.
Imagine I would do just 1 lot but more, lets say 10. I would be up 250$ and commissions would be 90$. Thats lot!



As you can see, I did 11 really small trades.


Lesson 3: New market
I did really strange thing. I went live on market I didnt know and actually never tried in sim. MNQ. I read here and saw some nice executions with kiss orderflow. Its a orderflow footprint plugin for NT. Well, its easy to reproduce it in Sierra, so I tried and got really similar setup (without buy/sell alerts)
I was like ooooo thats cool! I will try it. Aaaaaand it didnt go as planned.



I ended up loosing 16$ in the end. As you can see ... again many small trades. Almost every trade from MNQ was a lost. Usually I got chopped out. MES was good that day.

So second day I lost what I got first day. So far not great not terrible.
In day 3 everything just went wrong. And I mean really bad!!!

Lesson 4: Gambling


So Yeah ... real bad.
First! Where were my rules? What has happened with my -25$? Well ... I got angry.
First trade that day went so bad I was down almost 20$. Second trade ... down 27$. I should have ended, but I just started and didnt want to call it a day so early. And hah ... which market do you think I was trading? MNQ of course!
I went to MES. And it went almost to green numbers. But then ... then I got another loosing trades and I was down 30$. I told myself I will do last trade hoping I will be at -25$ (you know ... rules )
Well ... I was -40 and instead of calling it a day I started to gamble. I wasnt thinking I was just hoping. All other trades were 50/50%. All went badly.
And the worst thing I did ... I started doing more lots. I even did 3 lots trade. I thought if I want to go back to at least 0 I have to risk a little bit more. I did this trade where I put my stop loss 6 ticks and my target 3 ticks with 3 lots. Like it just have to go in my direction 3 ticks. MES is just noising in 1 point range. It has to succeed. Well ... it didnt. I was short in a start of bigger long move. Ended up -90$ in total.
I turned off my whole computer. I got sooo angry at myself and I got really sad.

I wasnt angry because I lost 90$. I went into live trading witch such a small account because I knew there is high possibility I will loose it all. I was angry, because I completely broke all of my rules! All of them! I was so despaired I just had to gave my looses back.
But I was sad. I was more sad than angry. I was sad, because I found out even after almost 4 months of many hours every day learning I still dont know how market works. I still couldnt crack it. Figure it out. My good trades were just luck. I really got broken.

Maybe its funny. 3th day of live trading and Im broken already? I think I got so much hope. I believed myself so much.
I had to sleep it off. Next day I wasnt sad anymore.
Actually I was glad. This was the best thing that could happen to me. I lost 20% of my live account in one day. But my live account is 500$. I just wanted to try it live. Im still in learning sim phase. I broke all of my rules. In just 3th day. Wasnt this great? Wasnt this the best thing that could happened?
It was! I learned so much!!! I didnt learn how to trade. I learned how not to trade! And now more then ever I want to learn it. I spent learning just 3-4 months. By myself. Ppl are learning how to trade for years! I cant figure it out in such a small amount of time. But I cant stop now. And I wont.


Friday. I went back to sim. I did just one trade live. I was more scared then first day That one live trade was long and I ended up 6 ticks in plus. Could have been 15, but I got scared by small chop and got out.
In sim I was actually plus 70$. I didnt even do any trade in MES. I tried ZN/ZF. I spent past month watching these markets. I kinda like them. They are really slow but in some cases I can tell if they got up or down 2-3 ticks. So I tried and all of those trades went well. I could not do them real. I would be so scared because those trades took 20+ mins. I was out in MES after 5 mins usually.

And I have changed my rules. Or rather I add more rules
I will do max 2 live trades a day. Just to gain courage of trading with real money. Otherwise I will spend all day in sim.

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  #3 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89


So today is Monday 12th of April.

Im really proud of 2 trades I made. Unfortunately they have been in sim. Dunno if I will have guts do any live trade today, but we will see.
Im in Europe, so my timezone is +6 from CT. Those trade were in ZF. I would love to trade ZN, but I got small account so Im trying ZF first.

I made more trades already, but I will sum them later.

First trade:


We got nice momentum upwards. Then we started chopping around 25.50 for half an hour. You can see that just 662 contracts traded at 25.75. Suddenly offers at 25.75 got stacked up and bid at 25.50 pulled off. I got in short. Stop and 26 evens and target 24 evens. It was also VPOC, so I thought that can be a nice target. As soon as we traded few contracts at 25.25 bids got pulled of and I knew Im right. It took just few mins to go down to 24.75. There momentum started to loosen up. I moved my target to 24.50. Got filled and we started chopping around that price. We eventually went down to 24 evens, but I think I did a good job. 30$ in sim pocket

Second trade:


Nice momentum down to 20.50. Little bit of pullback to 21 evens. Back to 20.50. We traded to 20.25. Tick above low of the day. At 20.50 offers got stacked up. Im in short. My idea was a breakout through low of the day. Didnt have any target. Just stop at 20.75. Ther was a high volume node and I knew if we go there, momentum is lost and we wont break lows. We went down 1 tick below low of the day but immediately went back to 20.00. There was also small absorption at 20.00 so I got out. I made 1 tick and I did good. Price went up to 20.75. Then price went down to 20.00 but started to chopping around for almost an hour.
My idea wasnt fulfilled, but I managed to scratch a wrong trade with 1 tick profit.
Funny part after that chopping we broke low into 18.75. But I think holding it would be just a luck and not a good trade.

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  #4 (permalink)
 
Anagami's Avatar
 Anagami 
Cancun, Mexico
Legendary Market Hustler
 
Experience: Advanced
Trading: MES
Posts: 978 since Dec 2010
Thanks Given: 707
Thanks Received: 2,300

Welcome to FIO... and to being hopelessly addicted to price action! I suspect that like most of us, you will not be able to shake that addiction.

I can see you're a smart guy from your posts... but really, there is nothing to 'crack'. The market is merely a shifting kaleidoscope of probabilities. There is no secret 'key', other than the ability to determine what is more or less likely to happen, and the psychological ability to act on that information, come hell or high water.

PS are you Slovak?
PPS Just saw your location. Vitaj!

You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
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  #5 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89


Anagami View Post
Welcome to FIO... and to being hopelessly addicted to price action! I suspect that like most of us, you will not be able to shake that addiction.

I can see you're a smart guy from your posts... but really, there is nothing to 'crack'. The market is merely a shifting kaleidoscope of probabilities. There is no secret 'key', other than the ability to determine what is more or less likely to happen, and the psychological ability to act on that information, come hell or high water.

PS are you Slovak?
PPS Just saw your location. Vitaj!

Thank you very much
Hah yeah well I guess I am. And I got this feeling more and more that there is nothing to be cracked. Really just find a setup with high probability. Im still looking at orderflow to have some kind of edge. Something that will confirm my bias or maybe that will create a bias that will be confirmed later.

Still learning. Still will be. Still in love and I guess still will be

PS:
Haha dakujem

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  #6 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89

Still Monday 12th of April.

But I got:

Topic of a day
Cumulative delta.

Lets talk about this:


Wot is that? This looked suspicious. I started to watch it and I even did one trade (bad one with fortunate execution) in sim.
So my understanding of cum delta is simple. It shows buyers and sellers. What I have learned is, that sometimes there is divergence between delta and price and it can lead to nice setups. I found a really nice blog. Its called tradingriot. There is an article about indicators that actually work and one of them is cumulative delta.
So divergence can lead to either absorption, where delta is making new highs or lows but price isnt, or to exhaustion, where price is making new highs and lows, but delta isnt.

Was this a case of that? I actually dont know. In that blog he also mentioned trend. It depends on trend. This looked like a huge range and not a trend. But lets see another picture.


Those white horizontal lines are were previous image ended. I went for a trade in a really stupid price. Why? I guess I had this image in my mind, that price started moving up and delta wasnt ... it has to go down, right? Well ... it didnt.
I marked up white circle where I figured out im wrong and if it would be a real account and not sim, I would go out with a lucky small profit. In sim I waited to see what will happen.
Price went up to 4111.75. That would have been correct price for a short trade. And this is why I think why (pls correct me here if my thinking is wrong)
We made a new swing high with price, but delta was still going down. Firstly we traded to 08.50. Price went back to 11.75 so I added second lot (rules!!!! but I was in sim and I just wanted to see what will happen and I was almost sure this will go down) So another new high. Basically the same high as before but with lower delta. And we went down again to 08.50.

Well nice! Delta did actually show us a setup. But ... Shouldnt price went even lower? Delta was still in downtrend ... lets see another picture:
  1. Range of previous image
  2. New high in bigger picture, delta still going down. After this I expected real price drop ... never happened.
  3. This is wrong circle, it should be 20 mins later. That is where I stared first trade
  4. Here I added second lot.

Afterwards we broke range, but in uptrend. Does this mean that delta is useless? Or it is not that reliable in bigger picture? Or context was just different and context is always stronger?
In tradingriot blog he also mentioned, that there are days, where price is in uptrend and delta in downtrend. I believe that eventually it will have some consequences. But maybe in a really big picter and bigger timeframe.

Lets see last picture:

This actually happened 2 hours after the range from first picture. It is that new high made in last picture. As you can see I did the same mistake. I didnt waited until new swing high is made and went for a short trade. Got stopped out because of tight stop.
  1. Went in in a price that was actually high of first range
  2. As you can see I got stopped out. But from this point we made a new swing high in delta but not in price -> Absorption

So again .. now it worked. It usually works for me in lower timeframes. But also just for a small profit. Which is not bad, maybe I can make some high probable setups from it.

Lesson:
If I want to try trade setup with cum delta, wait for new high or low to be made

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  #7 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89

So new day. Tuesday 13th of April.

Overnight session was really slow. After my day job we will have band rehearsal, so not much trading will happen today.
But I got sth from yesterday, that I didnt have time to post it yet.

Its a range breakout. At least I think it is Or at least it is sth that I see quite often. In RTH (not in ETH ... we will get to it later)



  1. We established nice range here
  2. High volume nodes in high of range ... I started watching
  3. High volume node slightly lower then low of the range. Now it stared to be interesting

So what happened after? We test lower, but we bounce back to high volume node. We didnt exceeded high of that node and we bounce and push lower. This happened in 16:35. In next bar, 16:40, we tested that node again, but from that point we just run down.
In heatmap you can see where high volume was made

I didnt take this trade yesterday, because I always take it wrongly. For example, I would take that high of a range beleaving we will push higher and break high of the day. Thats why I waited and tried to observe.

Well that was yesterday. As I said, today overnight was really slow. But I saw sth really similar started to happening.


I even did a trade. Buuuuut lets see what has happened here
  1. Established range
  2. Test higher and back to range
  3. Testing range
  4. We bounce up a little so I take the trade
  5. I got kicked out. We are testing under the range
  6. Testing higher of the range???

Well ... as I said ... it was slow. After this has finished I realised the range I tried to trade was just a begging of much bigger range that took 2 hours to break.
What went wrong and what went good. There was some good thinking and even tho I did poor choice I knew I was wrong.

Point 1 (from picture) took 10 mins.
Point 2 took 4 mins.
Point 3 almost 30 mins.
Point 4 -> pop up and I was in. I was expecting another small pop. Or at least buyers trying to push higher. There was nothing. Not even absorption. I knew I was wrong. I tried to scratch the trade, but didnt get filled. My hard stop eventually stopped me.
Im glad ... I knew I was wrong and didnt try to wait and hope. I tried to escape. It didnt go as planned but at least I tried and that is much better that just wait, hope and gamble!
I think that is a small improvement over last week.

Funny thing is we eventually break this range and even to my direction But if I would hold it, that would have been just pure luck and nothing else.

Lesson:
Observe ranges! If you want to trade ... do it in sim. Observe ranges and look for high volumes and test of them. Wait and be patient.
Dont be ashamed that you are wrong. If you think you are wrong, better to leave earlier and maybe jump back if you were right

(im writing this to myself for future read ... so if I write 'you' that is like my past self talking to current self reading it in future)

Today I did few ZF trades. All bad, but I want to sum them up. Hopefully today, because of that rehearsal and not much time to write.
So far this journal helped me enormously! And I just started. Hopefully you have fun reading it

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  #8 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
Platform: Ninjatrader, MT4
Broker: IB, Global Prime
Trading: Futures CFDs
Posts: 684 since Mar 2020
Thanks Given: 975
Thanks Received: 637

Malykubo... Great Post!

I've read your journal and I'm shocked your only 4 months into this! I have a feeling if you keep up the dedication you show so far you'll eventually do just fine.

This ONE post, if you read what you said to yourself, should take you %90 there.

See the thing is all the charts, indicators, divergences ect do is give us is perspective. You can only trade YOU.

YOU put the trade on... YOU take the trade off. YOU feel great when it works... YOU feel bad when it doesn't.

The problem is letting the *feeling* make the decisions. And this is going to ALWAYS be the struggle... NOT THE MARKETS!

You are ALWAYS going to be the problem AND the solution.

One suggestion I would make is look at your REAL TRADES (SIM doesn't count) and go OK your entry was your entry. Look forward and see how many times you panicked out before it would eventually go back to at least break even. And where you could have made a profit even. What you'll see is (as far as I'm concerned anyway) you don't have control till you enter then its up to you to manage the trade well. Panicing out is not trading well.

Did you know where you were going to get out when you got in? Stop and target? Otherwise you'll most likely get out at a panic point. Usually the worst place to get out.

Also do the numbers support a profitable strategy after costs? Cause its not about this trade or the next. Its about the whole.

Keep it up though. Keep writing to yourself. Follow it the best you can and remember its NOT THE MARKETS ITS JUST YOU!

Thank you.

Malykubo View Post
So here we go. In this post (or posts) I will try to sum up what has happened in last week.
As I said, I started with live account and well ... it was disaster. Or maybe not?

Before I start I want to tell you my rules. Very simple rules. Only 1 lot trading and if I got 25$ plus or minus, Im out for that day. As I told you, I wanted to start really small.


Lesson 1: Real money
If anybody is new here and is just starting I cant courage you more to start with real money. It is sooooo different. I cant tell you how much it is different.
Start as soon as possible. But be aware, that you will loose all of it So start small. But it is completely different game!
I got scared. I cant tell you how much I was scared. And I was playing with dollars. Not hundreds or thousands.
Unfortunately I cant show you my first ever live trade, because it is all messed up when I go back in charts and try to display trades I made. But it went well. I was long and price moved 1 point in my direction. Then it started chopping for a sec and I got out. It was a small chop down one or two ticks. But damn I got scared! I was risking 1 point and my target was I think 2. Of course it went up another 2 points. In sim, I would wait. Nothing was telling me that this will go against me. Even if, I could just scratch it. Well ... this was my first ever trade.
I bet when somebody is in sim for months and is profitable .... going live is sooo sooo different. Just try it. In worst case you can still go back to sim.


Lesson 2: Commissions
Well I completely forgot there are some commissions As I was scared I did really really small quick trades. So I was up 25$. I was really happy. Then I turn on commissions, because you have to set them up and bum, I was up only 16$. Commissions ate 36% of my profit.
Imagine I would do just 1 lot but more, lets say 10. I would be up 250$ and commissions would be 90$. Thats lot!



As you can see, I did 11 really small trades.


Lesson 3: New market
I did really strange thing. I went live on market I didnt know and actually never tried in sim. MNQ. I read here and saw some nice executions with kiss orderflow. Its a orderflow footprint plugin for NT. Well, its easy to reproduce it in Sierra, so I tried and got really similar setup (without buy/sell alerts)
I was like ooooo thats cool! I will try it. Aaaaaand it didnt go as planned.



I ended up loosing 16$ in the end. As you can see ... again many small trades. Almost every trade from MNQ was a lost. Usually I got chopped out. MES was good that day.

So second day I lost what I got first day. So far not great not terrible.
In day 3 everything just went wrong. And I mean really bad!!!

Lesson 4: Gambling


So Yeah ... real bad.
First! Where were my rules? What has happened with my -25$? Well ... I got angry.
First trade that day went so bad I was down almost 20$. Second trade ... down 27$. I should have ended, but I just started and didnt want to call it a day so early. And hah ... which market do you think I was trading? MNQ of course!
I went to MES. And it went almost to green numbers. But then ... then I got another loosing trades and I was down 30$. I told myself I will do last trade hoping I will be at -25$ (you know ... rules )
Well ... I was -40 and instead of calling it a day I started to gamble. I wasnt thinking I was just hoping. All other trades were 50/50%. All went badly.
And the worst thing I did ... I started doing more lots. I even did 3 lots trade. I thought if I want to go back to at least 0 I have to risk a little bit more. I did this trade where I put my stop loss 6 ticks and my target 3 ticks with 3 lots. Like it just have to go in my direction 3 ticks. MES is just noising in 1 point range. It has to succeed. Well ... it didnt. I was short in a start of bigger long move. Ended up -90$ in total.
I turned off my whole computer. I got sooo angry at myself and I got really sad.

I wasnt angry because I lost 90$. I went into live trading witch such a small account because I knew there is high possibility I will loose it all. I was angry, because I completely broke all of my rules! All of them! I was so despaired I just had to gave my looses back.
But I was sad. I was more sad than angry. I was sad, because I found out even after almost 4 months of many hours every day learning I still dont know how market works. I still couldnt crack it. Figure it out. My good trades were just luck. I really got broken.

Maybe its funny. 3th day of live trading and Im broken already? I think I got so much hope. I believed myself so much.
I had to sleep it off. Next day I wasnt sad anymore.
Actually I was glad. This was the best thing that could happen to me. I lost 20% of my live account in one day. But my live account is 500$. I just wanted to try it live. Im still in learning sim phase. I broke all of my rules. In just 3th day. Wasnt this great? Wasnt this the best thing that could happened?
It was! I learned so much!!! I didnt learn how to trade. I learned how not to trade! And now more then ever I want to learn it. I spent learning just 3-4 months. By myself. Ppl are learning how to trade for years! I cant figure it out in such a small amount of time. But I cant stop now. And I wont.


Friday. I went back to sim. I did just one trade live. I was more scared then first day That one live trade was long and I ended up 6 ticks in plus. Could have been 15, but I got scared by small chop and got out.
In sim I was actually plus 70$. I didnt even do any trade in MES. I tried ZN/ZF. I spent past month watching these markets. I kinda like them. They are really slow but in some cases I can tell if they got up or down 2-3 ticks. So I tried and all of those trades went well. I could not do them real. I would be so scared because those trades took 20+ mins. I was out in MES after 5 mins usually.

And I have changed my rules. Or rather I add more rules
I will do max 2 live trades a day. Just to gain courage of trading with real money. Otherwise I will spend all day in sim.

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  #9 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89


Sandpaddict View Post
Malykubo... Great Post!

I've read your journal and I'm shocked your only 4 months into this! I have a feeling if you keep up the dedication you show so far you'll eventually do just fine.

This ONE post, if you read what you said to yourself, should take you %90 there.

See the thing is all the charts, indicators, divergences ect do is give us is perspective. You can only trade YOU.

YOU put the trade on... YOU take the trade off. YOU feel great when it works... YOU feel bad when it doesn't.

The problem is letting the *feeling* make the decisions. And this is going to ALWAYS be the struggle... NOT THE MARKETS!

You are ALWAYS going to be the problem AND the solution.

One suggestion I would make is look at your REAL TRADES (SIM doesn't count) and go OK your entry was your entry. Look forward and see how many times you panicked out before it would eventually go back to at least break even. And where you could have made a profit even. What you'll see is (as far as I'm concerned anyway) you don't have control till you enter then its up to you to manage the trade well. Panicing out is not trading well.

Did you know where you were going to get out when you got in? Stop and target? Otherwise you'll most likely get out at a panic point. Usually the worst place to get out.

Also do the numbers support a profitable strategy after costs? Cause its not about this trade or the next. Its about the whole.

Keep it up though. Keep writing to yourself. Follow it the best you can and remember its NOT THE MARKETS ITS JUST YOU!

Thank you.


Sent using the NexusFi mobile app


Oh Im really grateful for your reply. Really thank you very much.
Im still really struggling, but you gave me a push to still try

You got nice point about feelings. I did just few live trades and panicking was big deal I panicked in every trade. Yesterday and today I didnt find strength to make any live trade. I was in only in ETH and start of RTH and in ETH it was really slow. Except one point and I will try to sum up in next post

Few days live trading actually opened my eyes. I will try to live trade more even tho Im still afraid. But I have to, because its really different. But now Im not doing stupid things in sim just to "try". Im more focusing on observation. Then writing it down and doing screenshots and trying to explain what was I thinking and what actually happened and what I thought happened is really helping me a lot.

Now Im finally getting why everybody is talking about finding your own setups. What works for you. And now more then ever I see that most important thing is experience. I guess I just have to keep trying

Thank you

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Thanked by:
  #10 (permalink)
 Malykubo 
Bratislava Slovakia
 
Experience: None
Platform: Sierra Chart
Broker: AMP, cqg with denali
Trading: MES, ZN, ZF
Posts: 57 since Feb 2021
Thanks Given: 23
Thanks Received: 89


So I got one observation here again

As I mentioned range trades, what was happening today with ES?

I ended up my day job. I was watching ES before going to rehearsal. This was happening:



We were in a range again! yay It is happening so often now. I would love to trade those. I really want to learn them.
So my thinking. I waited patiently, but that high volume node slightly outside of range (it actually is not out ... but well Im still learning) got me. That threw me off. I would trade it. I thought we will break higher.

Here how it went. We established this small volume node. We traded lover and back to test node. I really thought we would go higher. But not
Ill show you heat map and you can see it better there:



Circle 1 is HVN that got tested and then we bounce back to range.

But look at this! I didnt notice that in real time, just after I made screenshot.
In point 2 we had delta divergence! Nice 2 point scalp/trade opportunity.

But these are tricky from my very short experience
This is what I would do:

In this point we are at the same price as previous swing high. Good! thats first rule for delta divergence. Now we can either drop down (because of delta) or we can go higher most probably to high of previous swing of that swing (you know what I mean that HVN)
So how would I trade it? There was this small resistant zone (number 3). If we would go below I would trade it and put my stop above that swing high Im trading. Or I could trade it somewhere there in that small range and would put stop above previous higher swing high (HVN).
Because in this cases we can go higher with delayed delta. So we think we have divergence, but its just delayed and we would move to new highs and delta will come to us later, but will come and there will be no divergence.

I have to mark this down somehow:

Lesson:
Wait for confirmation or put a tight stop where you know you are wrong for that small trade. It doesnt mean you cant have another opportunity few sec later (like divergence with other swing high/low that established earlier)
For ranges ... JUST WAIT FOR THAT DAMN CONFORMATION! Its better to not trade then loose .... OBSERVE!

EDIT:
I forgot to post how this range actually finished
Im back from rehearsal and well ...


We were ranging for another 2.5 hours.
  1. Range I posted earlier
  2. Break of a range
  3. ??? I would definitely got stoped out here somehow

Lets have a look on that break

  1. Biulding HVN before break and at the edge of range
  2. HVN above range
  3. We bounced back to range but then we tested HVN with another HVN ... I guess, this was that confirmation

I hope we will have more ranges next days so I can observe and compare my findings. Its much easier to have a look after its done. But maybe with many looks I would see it also live and would have some high probable setup

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Last Updated on May 21, 2021


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