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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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  #61 (permalink)
 Sandpaddict 
Langley
 
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Better example.



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  #62 (permalink)
 rahulgopi 
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Sandpaddict View Post
Better example.

Attachment 313392

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IF you did not enter short as did, would you have considered long on the next wave up ?. I don't want to comment on how you trade or read the market, but if that indeed was a long signal, that probably was an exit signal for the short. One way to stay objective and avoid cognitive biases, while in trade is to look for reversal trades or keep evaluating all the parameters surrounding market context.

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  #63 (permalink)
 Sandpaddict 
Langley
 
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MrMojoRisin View Post
I can't help myself, but I think you're sabotaging yourself for some reason you have to find out and resolve!
Look at the people that you surround yourself the most with and try to do that in an unbiased, objective way.
I've heard of people that divorced their wife or moved in other states to get away from their family, for trading. I've actually also cut contact nearly to zero to most of my family-members a few week ago and am really thinking about how to go on with that.
There are people that don't want you to succeed. They may not say it, but they act in a way towards you, that you just can't get into the right mindset for trading.

There's a good story about that:

Think of a cage full of monkeys that are screaming and running around like crazy all the time. Then one day, one monkey stops and looks up in the air and sees that the cage is actually open to the upside.
He goes to the railings of the cage and starts to climb up. The other monkeys, instead of asking him what he's doing, are grabbing his feet and pulling him back down again. Then they are continuing running around shrieking and screaming like they always did.

People that see you climbing up start the craziest manipulative tactics and they are very hard to identify at times. They tryin' to make you feel guilty, make you feel bad about yourself and blackmail you emotionally.
I think as long as one hasn't come clean with all that stuff, and got rid of those type of people, it's almost impossible to get consistently profitable.


There are those stories of people who became successful and "forgot their family and old friends". If they hadn't "forgotten" them, they could have never become successful in the first place.


MrMojoRisin View Post
I can't help myself, but I think you're sabotaging yourself for some reason you have to find out and resolve!
Look at the people that you surround yourself the most with and try to do that in an unbiased, objective way.
I've heard of people that divorced their wife or moved in other states to get away from their family, for trading. I've actually also cut contact nearly to zero to most of my family-members a few week ago and am really thinking about how to go on with that.
There are people that don't want you to succeed. They may not say it, but they act in a way towards you, that you just can't get into the right mindset for trading.

There's a good story about that:

Think of a cage full of monkeys that are screaming and running around like crazy all the time. Then one day, one monkey stops and looks up in the air and sees that the cage is actually open to the upside.
He goes to the railings of the cage and starts to climb up. The other monkeys, instead of asking him what he's doing, are grabbing his feet and pulling him back down again. Then they are continuing running around shrieking and screaming like they always did.

People that see you climbing up start the craziest manipulative tactics and they are very hard to identify at times. They tryin' to make you feel guilty, make you feel bad about yourself and blackmail you emotionally.
I think as long as one hasn't come clean with all that stuff, and got rid of those type of people, it's almost impossible to get consistently profitable.


There are those stories of people who became successful and "forgot their family and old friends". If they hadn't "forgotten" them, they could have never become successful in the first place.

Thank you for your response. It's appreciated.

Reminds me of the crab in the bucket. Put one in there it'll get out easily. Put two in there they never get out because one will always drag the other back down.

In my case I have no one at all that's negative or any pressures that might negatively affect me. Except some health worries around me.

I think I'm pushing it and not in the right headspace though for sure.

Thanks again.

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  #64 (permalink)
 Sandpaddict 
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rahulgopi View Post
IF you did not enter short as did, would you have considered long on the next wave up ?. I don't want to comment on how you trade or read the market, but if that indeed was a long signal, that probably was an exit signal for the short. One way to stay objective and avoid cognitive biases, while in trade is to look for reversal trades or keep evaluating all the parameters surrounding market context.

I don't really have an entry strategy.

Depends on how the market FEELS and is moving. Are there a ton of reversals before here? (support or resistance). Does momentum feel fast at resistance? Or is it bouncing and choppy?

But even at that I dont much credence to anything till I enter THEN I have drawn the line in the sand sort of speak and now my profit or loss comes from my exit in relation to my entry.

At least that's how I see it.

Also I dont know when the market will turn so I'm not sure about a long signal/short exit signal.

Again for me I'm underwater at that point and that's all I know for sure. I dont know if it'll keep going but i know if I stop out I'll guarantee that loss.

Not to say it's right or wrong but everything is in relation to where my entry is for me.


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  #65 (permalink)
 Sandpaddict 
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Trading in sim is stupid easy? Killing it like everytime.

It absolutely amazes me that I can pick any point(random date and time) in the sim and trade like the best trader in the world.

No wonder I fall flat in my face live!

If that doesn't tell me it's ME and MY emotions, discipline, and patience I dont know what will!!!

I know HOW I'm supposed to trade... but I don't know how to GET myself to trade like that!

It's a slap in the face... Both sides of the hand lol.

It's crazy to me to see I KNOW HOW to trade and go live and COMPETELY loose sight and ability to trade at all!

I am not ready because I don't know how to trade with detached emotions yet? That's all I can think of for the disparity.

Simming brought extreme clarity as well in the sense that MY STRATEGY was crystal clear and TIME is the variable I loose sight of live.

Trades take TIME. When my trade is at it's MAE in sim it is either going to hit my stop or it's going to turn around and take MORE time to come back in my favor. Fine.

When in profits I don't panic in a retrace in sim but I SURE AS F do LIVE as this is absolutely EXCRUCIATING live!

In sim an hour is nothing. Live... every tick is life and death at times.

Back to the drawing board. Do I know what to do here? Do I have the ability?

I have met the enemy, and the enemy is ME.

P.S. The strategy NEEDS to be the same in sim and live and that's WIDE stops (PUT THEM IN) looking to ride profitable trades till we are clearly not going in that direction anymore. (No point in picking tops and bottoms. You'll give all your money back.) Then take your stops until it finally turns and ride it for what it's worth.

Aren't you going to get whipsawed? No. No you won't! Why? Because your going to take a wide stop or change direction at an extreme or high level of profit so your going to be in A SHIT TON OF UNCOMFORTABLNESS most of the time. (There is NO pain)

If you are getting whipsawed you are doing it wrong.

Sounds simple but you know what it means and what to do.

Just like a shark will die if it stops swimming... I feel like a shark in the trading waters.
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  #66 (permalink)
 Sandpaddict 
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I stole this from snax.

It HIT me so hard... it's so pioneint!

Here is snax post...
snax View Post
SATURDAY - MAY 29, 2021

I've been finding that by adding structure and consistency to my daily approach, I'm staying out of trouble. This is something that I've slowly discovered over time and has been forming a clearer
picture in my mind with more experience. I don't know anything for sure, but it seems like as we progress as traders, there are many different layers and many variables to tune. I have felt like this was a big swirling ball of chaos for a long time but now with experience I'm finding I can isolate certain areas of "chaos" and add a little structure to them. This kind of feels like the main underlying current of our progress, this ever-constant refinement, tweaking, discovery, fixing, and iterating. Keeping risk small fits neatly into this structure because it allows us to be patient and learn the nuances that are too subtle to discover at first. I used to wonder what a "trading plan" meant, but over time, you figure it out. I still don't know what my "edge" is, but at least I'm finding some more ways to add structure to my trading plan. The longer I do this, the more areas of my approach I now see are rough and maybe a little misunderstood, or went unnoticed.

A quick peruse through my journal will tell you this is EXACTLY where I'm at! No changes needed.

snax View Post
I never really had much of a plan for how to know when and how much to scale up. There is no right answer, and essentially all I really want right
now is something to use as a reference-point to compare against in the future. I don't want it to be based on money, but rather on consistency. I'm starting with a really
simple, naive approach:

1 contract - 1 profitable week -> scale to 2 contracts the following week.
2 contracts - 2 profitable weeks in a row -> scale to 3 contracts next.
3 contracts - 3 profitable weeks in a row -> scale up to 4...

and on up to 5 contracts or so. This is flexible and easy to change. I may find that I want to increase the number of weeks at each level over time for example,
in order to ease the incremental risk. If I fail to be profitable say on the third week at 3 contracts, I'll drop one level lower and try for 2 profitable weeks in a row
with 2 contracts. This is not intended to be a perfect plan, just a beginning that adds structure and a point of reference for modification later.

I would even use the same vernacular here. "No right answer", "reference point", "not based on money but CONSISTENCY..." ect...
snax View Post
I also see that if I eliminate disaster days I can always be in the hunt for profitability. Eliminating these is one end of the spectrum, stretching winners and hitting further targets is the other. I am working on becoming "hands-off" once in a trade, but it is one of the hardest challenges for me, as I seem to love micro-managing trades
I think it stems from being on the wrong side of the market so many times in the past, but I've added statistics to my daily routine that track how often my target would have been hit and the number of targets I've actually hit. As that number rises I hope to see better overall results.

Trade well!

You can see the brilliance of snax's words.

I am in the same boat on ALL those points!

How many times have I said go back and look at all your loosers for a period and see how many times IF YOU HELD would they have come back to AT LEAST breakeven?

Ok I'm up for the challenge!... If I'm profitable after a week I can ADD a contract if not I stay at ONE.

If I have added and have an unprofitable week I REMOVE one contract.

This will give me the flexibility to adjust and yet give me a framework for scaling back.

Thank you @snax!!! Absolutely brilliant!

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  #67 (permalink)
 snax 
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@Sandpaddict, Well I'm struggling too, ha! But thank you for the kind words

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  #68 (permalink)
 Cutloss 
Midway florida
 
 
Posts: 244 since May 2021

what people seldom realize is that with short term day trading DEMO is not ever going to be what the market would actually do if you sent a live trade. take the trade i just did.

I was long a 2 lot. live. .. im trying to fill at 08 even. they wont fill it some dumb algo out there is selling hundreds in front of me. just holding the mkt.. so i put in another sell order so now i want to sell 2. it is the only way to stop the algo control and make it think oh shit.. there is risk now. so i buy 1 mkt and it si trading 07.75 the mkt order fills a tick higher of course at 08 even where i also have 2 sells. so now the algo wakes up and immeditley im filled on 2. sure i took a commission loss on 1 lot but i also made some gains in my long.

every time you go mkt the machines will react because they are takign the other side of your trade! unlike demo.. so it is all bullshit that short term demo is just your emotions and psychology.. no.. the mkt acutually moves differently every time when its real.

do you really think that many people cant control their emotions even with a 1 lot micro.. very doubtful. it is set up for you to lose.

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  #69 (permalink)
 Sandpaddict 
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Todays been boring. Lol. Perfect. It should be. Just held position. That's it. Theres nothing more to do.

To do anymore is admitting I know what the markets going to do and of course I never do and it ends badly.

I can say I'm super happy with the way I'm trading.

No hoping... no guessing... no forcing. A couple of moments of trepidation as it came back against me but I knew I was going to let it do it's thing anyway.

Went quickly through my journal today (going to DEEP DIVE it after this as it's a roller coaster!) and its not good!

I'm so inconsistent!

I read an email today that said if your hanging out in chat rooms or forums with others it guarantees your going to lose money as are they. Hmmn. Wonder how much truth there is to that?

Wonder if it's a correlation thing... the more profitable you become the less you feel you NEED help? Hence less chatting or more with "higher level" traders?

Maybe it's a peer thing? Unfortunately, reinforcing bad habits probably.

Maybe the less you know... the louder you are?

And maybe he was right?... "loosers surround themselves with other loosers so they dont feel so bad about themselves."

I DON'T subscribe to that line of thinking but I do think theres a grain of truth in there?

Anyway the point is once again simming showed you EMOTIONLESS trading is easily profitable.

Why? Because you just LET IT DO what it's going to do!

When it hits your stop or chops around for hours... it is what it is!

When it heads nicely in your direction only to turn around and stop out... it is what it is.

When your in profits but the market is retracing you just wait it out. It's not UP TO YOU to decide if it's NOT going to go to your target eventually.

TIME... TIME... TIME... time... time!

In sim there's this time traveling button called fast-forward.

What does this magic button do? Takes the pain away. How? By SKIPPING the bad feelings. (even though they are already almost NONEXISTENT in sim). Just speed it up and see what happens.

But there lies the KEY!

What WOULD you do in sim?... and how can you distract if you can't discipline yourself to enter and HOLD for the whole move?

Anyway good start really...

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  #70 (permalink)
 Sandpaddict 
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I wrote that first picture (post) when I had finally realized what all the professionals were saying about stops.

Take small stops. They will always be easier to overcome than big ones. And TAKE profits along the way!

Taking profits is one of my problems. I constantly watch it go to 100 points in my favor and think OK heres the one that's going to pay for the rest and watch it come ALL the way back!

I think @Cutloss would be proud. I'm cutting cutting cutting but trying to profit take as well!Red and reread. It is soooo true. Especially the part about leveraging.Todays very profitable trading using TIGHT stops.

Mike Reed is constantly going through my head latley... "I've seen alot of people come and go over the years but I'm still here trading the way I always have... phantom of the pits style..."

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