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Going Toe to Toe with the MNQ...


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Going Toe to Toe with the MNQ...

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  #21 (permalink)
 Sandpaddict 
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MrMojoRisin View Post
Hmm. But make sure that trading the MNQ isn't an act of subconscious self-sabotage or an ego-thing. If you know how to trade the ES why not stick with it and milk all the money out you can get and focus on increasing size?

I like the way you think. In my case I "think" if anything it's FOMO. Trading the ES can be so painfully slow. I end up hating trading. I can almost handle if it moves against me over back and forth and stalling for an hour then slowly move then jump and stall for two hours. I hate it.

I watch the NQ and the f'er moves. In the last few hours now I've been holding. It's still against me but if I look at the difference it's clear. Of course its ME. Have a look.

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  #22 (permalink)
MrMojoRisin
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Sandpaddict View Post
I like the way you think. In my case I "think" if anything it's FOMO. Trading the ES can be so painfully slow. I end up hating trading. I can almost handle if it moves against me over back and forth and stalling for an hour then slowly move then jump and stall for two hours. I hate it.

I watch the NQ and the f'er moves. In the last few hours now I've been holding. It's still against me but if I look at the difference it's clear. Of course its ME. Have a look.Attachment 313118Attachment 313119

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I understand that. One needs the correct amount of being busy, because what is a trader who doesn't trade?!

Concerning the hating trading: What if the actual process of (profitable) trading just can't be fun? Let's say trading is just a general pain in the ass and will be forever and also boring like hell. Who wants that?
One decides to become a trader, because he wants the thrill, the action, the glory and being the hero of the market and then he discovers that what it takes to make money is a neverending boring pain in the ass!

Just theoretically if this was true, then a trader who is at a certain level in his trading would have 2 choices:
1) Keep the thrill alive by trying different systems and methodologies, different markets, different styles of trading. Tweaking here and there and just never being satisfied and like a donkey chasing the carrot in front of his mouth year after year after year

2) Take trading as a boring, annoying, but very effective money making machine and search his thrill and excitement elsewere

It might be a daring statement, but I think if there's some truth to that, that could be a serious source of self-sabotage.

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  #23 (permalink)
 rahulgopi 
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Hard Right Edge

If you look at the same chart right now, in hindsight, you may notice clear areas you wanted to execute a trade, levels are becoming obvious BUT what happened when the candle on the right edge was forming?. It appears that all objectivity was lost and focus was elsewhere.

It is like traffic or a current, when you are in it, total chaos and not much sense of direction. But if you are looking at it from a hot air balloon 100 m above ground, it is much more enjoyable and one can clearly see where current or traffic is flowing. Distance gives a better perspective.

When you are trading, NEVER focus on a single candle, it is like hypnotizing, you are following every tick and the whole decision regarding trade is made based on the next tick. Instead, keep a bit of distance and scan across all the screens evaluating your checklist of items. Make sure you never close a trade while a candle is forming. if you are becoming impatient, either reduce or increase the time frame or trade a different instrument where risk and volatility are within your comfort zone.

If anxiety is present, or breathing is shallow, make it a habit to breathe deeper. I usually close my right nostril with my thumb and breathe thru the left one for 10 times, good practice to stay relaxed. Use a spirometer to measure lung capacity and for breathing exercise, if needed.

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  #24 (permalink)
 Blue Eagle 
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Sandpaddict View Post
Absolutely loosing it today. I know losses are part if the game but days and days of doing exactly the wrong thing has made me loose it.

I'm in the worst kind of headspace. I'm in the "I don't give a shit" trading mode.

Im taking loss after loss out of pure frustration like fuck this I deserve to take the loss. Take it. Then take another and another. If I would have just waited but whatever... I don't give a shit. Fuck this week. And it's Friday which had me stressed as it leaves only one day and I've lost over $3000 in a few days.

There is NO excuses or FIXES. This is just trading.

Attachment 313110

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I hate those days...and I've had my share. That mindset is actually my only current "shut it down" rule. I don't have a max loss to stop trading because I've had days when I've been down and been able to recover as long as I am still calm enough to focus on PA. But when I am fighting the market on every move...I gotta walk away.
My worst days of trading have usually been when I think I know what is gonna happen and I can't let go of that bias. I hate when I do that and then look back and see a chart that was clearly telling me another story...and I ask myself "why didn't I just do what the chart said"?

Anyway, sorry you had a rough week...but it's done. Maybe there is a nugget to learn somewhere? Or maybe it was just a bad week. There have been some good suggestions from others I think. I agree with MrMojo in that I would rather be bored and profitable than entertained and broke...if I want to play a video game there are lots of cheaper ones.

Get focused on the good stuff in life and enjoy the weekend... and get back at it next week.
Craig

We all have two lives...the second one starts when we realize...we only have one.
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  #25 (permalink)
 loantelligence 
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maybe its your buy/sell signals.....you neen to know the direction before you buy and sell....and with the MNQ or NQ.....you cant be in the position to long....it will go against you.....I use cumulative delta to tell me when to buy or sell.... works will with MNQ and NQ.....doesnt work will with RTY...here is an example using range to show only....I dont use range to determine....but it will show the idea...all winners.......

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  #26 (permalink)
 loantelligence 
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this may be a better example using 233 tick.....shows the cumulative delta ....also....

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  #27 (permalink)
 Sandpaddict 
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loantelligence View Post
this may be a better example using 233 tick.....shows the cumulative delta ....also....

Ummm...WHAT THE HELL YA! Lol.

Well that's the way I'm TRYING to trade!

If I'm lucky my charts end up looking sort of like that on a good day. But that is some serious skill.

The way I look at trading is like a golfer.

Most people that golf are your average golfer. Statistically that has to be. So if your a Tiger Woods your worst day is better than MOSTS people BEST day.

I'm no better than your average trader. That chart above is a Tiger Woods chart!

Thank you for sharing! I will look at your suggestions.

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  #28 (permalink)
 Sandpaddict 
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Blue Eagle View Post
I hate those days...and I've had my share. That mindset is actually my only current "shut it down" rule. I don't have a max loss to stop trading because I've had days when I've been down and been able to recover as long as I am still calm enough to focus on PA. But when I am fighting the market on every move...I gotta walk away.

Now there's a rule I can get behind for real. Especially since I know what's happening when I'm doing it. I HAVE to REMEMBER that one. Emotional emergency brake! (To be honest this week I should NOT have been trading due to intense outside stress. I realize now I think it manifested in me as a short fuse)
Blue Eagle View Post
My worst days of trading have usually been when I think I know what is gonna happen and I can't let go of that bias. I hate when I do that and then look back and see a chart that was clearly telling me another story...and I ask myself "why didn't I just do what the chart said"?

The way "I" look at this is, did I stop out, out of fear? Or as a logical reason to manage out of position.

For me it's easy to see and tell. For me I know I'm doing it wrong if I just stop out because I'm frustrated, because I can't stand it going against me anymore or like today, I just say fuck it and keep stopping out hoping to get "on the right side" out if frustration. Death by a thousand cuts.

Blue Eagle View Post
Anyway, sorry you had a rough week...but it's done. Maybe there is a nugget to learn somewhere? Or maybe it was just a bad week. There have been some good suggestions from others I think. I agree with MrMojo in that I would rather be bored and profitable than entertained and broke...if I want to play a video game there are lots of cheaper ones.

Love it.
-...but it's done... yeup

-...a nugget if learning... Retrospect. Thought. Reading others opinions

-...just a bad week... absolutely a possibly just as a great week can be lucky.

-...There have BEEN GREAT SUGGESTIONS from people! Thank you all.

-MrMojos the man!

-...bored and profitable... yeup again... reminds me of the "I'd rather be on the ground wishing I was in the air, then being in the air wishing I was on the ground".

Blue Eagle View Post
Get focused on the good stuff in life and enjoy the weekend... and get back at it next week.
Craig

Best advice yet. Trading is only one part of life!

Have a great weekend @Blue Eagle and thank you!

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  #29 (permalink)
 Sandpaddict 
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I almost missed this. Glad I didn't.
rahulgopi View Post
It is like traffic or a current, when you are in it, total chaos and not much sense of direction. But if you are looking at it from a hot air balloon 100 m above ground, it is much more enjoyable and one can clearly see where current or traffic is flowing. Distance gives a better perspective.

I like this analogy because it's easy to remember when your in that state that your goal is to step back and seriously consider the bigger picture.

rahulgopi View Post
If anxiety is present, or breathing is shallow, make it a habit to breathe deeper. I usually close my right nostril with my thumb and breathe thru the left one for 10 times, good practice to stay relaxed.

I never heard of this but I could see how that would work before making a decision in a panic situation for sure! I give it a try.

Thank you @rahulgopi!

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  #30 (permalink)
 Sandpaddict 
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Just absolutely embarrassing trading!

There's lessons here for sure but no excuses. You let your emotions get to you and you paid for it. Simple as that.

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