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No recording today, I bounced back and forth between trading and not trading since it was FOMC.... I ended up trading. Best trade of the day was at
11:45 PST, going short .. got 112 ticks. The earlier trades were back and forth, I'm overtrading.
I'm going to "try" and stop worrying about daily P/L. My focus should be just how I trade, my trade management. Everything else will work itself out. The data will tell me if I suck or not. A lot of my trades today had me on edge, should I hold or should I get out. It was taxing... the only good today was that I did not let the previous trades bother me too much. I just have to stick to my stop loss.
I'm going reset and go back to 24 tick SL/ 24 tick TP. 1R;1R. I need to trust myself and the data will show what to do next. I just gotta believe in the heart of the cards ....
I found my trading improved when I unchecked the "Show realized PnL when flat" to not show my daily PnL on the trade panel. That helps me to focus on my trades and plan and not force things based on my PnL for the day.
@sevensa implemented your tip ... thanks for the suggestion.
I had no idea where I was in terms of P/L today. I just kept trading until A) I hit my daily stop loss - $200 or 10% of 2500 or B) finish my last traded at 9:30 AM PST. My daily goal got hit, so I stopped.
I didn't check RTP until I hit my max daily profit. Good thing I did, I had one account that still didn't exit out, it kept going.
Overall I think I traded alright. I did go over my regular size when I saw great opportunity.
Screenshot 2023-09-22 141909
Still a bit trigger happy on the oversizing this week.
I noticed that you use the Cumulative Delta with the MES data. I use the CD many years now and I have to say that the indicator used with MES data are 95% useless, because it moves like the price.
Peter from Jigsaw Trading made ones a video when the Micro Futures contracts came out and he sad that the Micro Futures is clearly a manipulated market and we shouldn't use that data for Volume, Volume Profile, Cumulative Delta, Market Depth and this stuff.
Instead we should use the ES or NQ data and put it on Micro Futures charts.
I'm not here to tell you what do to, but take a look at it, maybe it helps.
Michael
BTW: Cumulative Delta with ES data you can see (big candles) Iceberg orders, with MES data you will not see it.
For the chart
1. You put MES Data Series with your properties on a chart
2. You put ES Data Series, Chart Style = Line on Close, Color = Transparent, Panel = 1
Then you add Order Flow Cumulative Delta indicator with Data Series- Input Series = ES 12-23 on the chart.
that's good work .. since you are using 2-minute charts you will have plenty of time to draw your trend lines to plan your trades .. if memory serves me correctly it was a similar setup that caused me to develop the OBVM-CD indicator .. maybe the OBVM-CD is not as accurate but is quicker, less chart lag requires fewer resources and doesn't require a lifetime license .. but like I say .. think your method is more accurate ..
is that pic a sunset/sunrise over Merida? beautiful
stay focused .. Let's all have a green week ..
.. you don't have to be the first one at the party .. just be part of the party ..
Sorry for not responding your previous post, all family members got dengue fever 2 weeks ago and I`m feeling only better since yesterday. That was a pain in the ass, prefer COVID over dengue.
You ask about Merida, it’s actually one of the safest city in North America and it’s a beautiful old colonial city. But also, it has its issue, the climate lately isn’t funny anymore, it is very hot and with a high humidity and that causes the dengue, zika and chikungunya invasion here. The Government is working hard but it is nearly impossible.
BTW the pic is the Swiss Alps, remembering my Home Country and trying to cool down when looking at it, LOL.
Like I wrote we use kind the same system on the chart only I work with faster charts. I have a 200 tick MES chart, but nearly all indicators are with HTF data. Also, the TSI is I think a 1 minute on the 200 tick.
What I do is watching all the time the 200tick MES, 2000tick ES, 5 minute and 15 sec ES, NQ, RTY.
@michaelf damn, that sucks. Wishing you and your family good health, hope they feel better soon
I use Volume Delta by Gil now instead of NT's MES volume delta data feed. But from a quick look @michaelf is right, its much better to use ES data
@mewddsltd yeh, OBVM-CD reminded me TTM_Squeeze over on TOS platform. Unfortunately, I'm unable to fully leverage either one of them in my trade. User error probably ... no confidence in my ability to use trade OBVM-CD/RSI profitably and being consistent.
09.25.2023 : EVAL : DAY 8 : GREEN
First two premarket trades were a lost, go in too late... chasing lower low. The rest of the day was not bad, I did add to my position when I felt the trend was going my way. I didn't DCA, made sure I added when I was up or at least B/E.
Not showing my P/L after the trade is helping me out a lot. Its a piece that I need to get one step closer to accepting the red day. I have yet to hit my daily loss limit, but I suspect it will come soon.. probably first week of PA given my track record lol. Anyways, I have one last final piece that I must conquer, before I can say that I've become a better trader compared to a year ago. I just have to continue to be discipline in walking away when I hit my daily loss limit.
One thing I should start doing, is scaling out when price isn't moving my way. I need to use another ATM strategy to scale out. I can always add back when I feel confident.
