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TF day trading
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TF day trading

  #1061 (permalink)
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houston
 
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Penguin

Is this the shape for penguin you sometimes refer to? And do I assume correctly it usually indicates a drop in price looming?

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  #1062 (permalink)
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Thanks for sharing.

I disagree that the only reason to have small stops is capitalization as it is all relative to how you trade.

Per moving the stops, that is probably right... at least for me!

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  #1063 (permalink)
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HighRise1202 View Post
Is this the shape for penguin you sometimes refer to? And do I assume correctly it usually indicates a drop in price looming?

Yes and No.

Yes that is a Penguin, No that means it is heading up!

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  #1064 (permalink)
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hey blue
i just watched the first 15 minutes...
no offense but it seemed like you were not even paying attention to your macd...
the first 4 trades or so (you tried long at the 23) had no confirmation of macd at all....
610 was really hard on the rail...
--
at ca. 9 min you say that you picked the wrong direction which is wrong... right at the beginning you called it right => long but you have not been focusing on your own structure (rules). thats basically all.
--
but i know this... sometimes your head is just somewhere else... typically on mondays and fridays...

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  #1065 (permalink)
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Good food for thought


vovan348 View Post
Here is the video about stops.

Nothing new for you just an opinion from another trader:
10 Days to Better Emini Trading – Day 4

Thanks, Vovan. Where to place stops seems to be what I ponder most. Would like to have members comments on this.

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  #1066 (permalink)
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HighRise1202 View Post
Thanks, Vovan. Where to place stops seems to be what I ponder most. Would like to have members comments on this.

To me, having the smallest stop possible increases your r:r, but highers the amount of losing trades. To me there is nothing wrong with getting stopped and getting right back in if you feel the same way. The only time it becomes a huge problem is if you have long bars and spottiness which is what we had today but I chose to continue...

Per moving your stops, I am starting a new rule where it is illegal to move my stop until my PT. I was measuring for a while and I end up more profitable by never changing my stop.

In my opinion if you can't figure out market direction in a few ticks, you should not be trading.... Or, you deserve to lose money. The rest is just hoping... Of course unless you are trading off of higher timeframe's which some believe is the only way to trade...

I see SOOOOO many traders who will have wide stops (1.5+ TF) and make a few gifts and voila... bad day and it will happen a bit and they will never make money or even worse, they move their stops....

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  #1067 (permalink)
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ollivermilton View Post
hey blue
i just watched the first 15 minutes...
no offense but it seemed like you were not even paying attention to your macd...
the first 4 trades or so (you tried long at the 23) had no confirmation of macd at all....
610 was really hard on the rail...
--
at ca. 9 min you say that you picked the wrong direction which is wrong... right at the beginning you called it right => long but you have not been focusing on your own structure (rules). thats basically all.
--
but i know this... sometimes your head is just somewhere else... typically on mondays and fridays...

I think you are confused on the 610 and 377. I believe the 377 was on the rail, but not the 610 but I was thinking it was going to bounce on support of lower band of 610. I know it had a foot and all... I was also looking at bull flag on 987 and 1597 sitting on support of rail but had already broken through so....

The 377, 440 were not saying to enter, so I did break my rules... haha...

You are right in that my screen just popped up again since my data loaded and I didn't give it time to reassess, but that was the area I was looking to do business. 23 or 38 for a move up....

I just took too many trades in that shite area.. haha...

when I am confused like this I could choose to sit out, normally I do... or I should say about 50% of the time! haha...

Interesting day for me. I will not let this get me down.. haha...

I will survive...

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  #1068 (permalink)
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-2.9 points today

Today, please no comments on the system or stops. Today it was all me. As it is 99% of the time. It is easy to tell someone that they 'should' be trading a different system and how gloriously profitable you are etc..

a) I don't believe you (unless I see something that tells me otherwise)

b) it does me no good....

My stops killed me again today. Well, I should say my judgement of moving my stops. But, the small stops were a challenge also and I am considering 'upgrading' them, but very slow to move.

Trades:

1) -5 ticks, This I thought was a sure winner. I normally would not have held my stop but I did!!!! Yay!

2) -5 ticks, This was really not an area to enter with such a small stop, but I was 'certain' it was going to drop. It just barely knocked me out and.... But, I held my stop! wooohoooo

3) -3 ticks, Ok, this is HYSTERICAL! Not a great area to take a trade (had a hard time getting in because if you see the bars down are all 1 pt+!!!). I decide it is hitting too much support and that I am convinced that it is not a good area and I will do a repeat of yesterday (5 gifts in a range). Well, that would have been at least a 3.7 point run.... 2.6 points for the day and DONE. I give myself a big fat F for not following my rule.

4) +0 ticks, Ok, again, guess what... I exited... On my own... Moved my stop. I wanted to get long, but it jumped right when I was moving to enter... I was late...I chased it... I was 'nervous' about my high entry...

5) & 6) -5 ticks each, I couldn't get filled at the higher area off the trendline bounce, so I entered twice in the exact same bar and price and got knocked out both times.

7) -5 ticks, I held my stop!!! Wooohooo... Give myself an A for that... But... Wrong direction! haha

Ok, I see weakness in the longer term and that is why I was thinking the shorts would be a bit better than the longs. The 4181 looks like a penguin, etc.. I do not see it breaking new highs for now and believe downside will have the biggest payday over the next couple days. It is ranging nicely and then a breakout will occur but who knows when. I don't have any good retracements on the longer term, but I see short people...

I give myself a C+. Good score for overall understanding of what I am seeing, but about 50/50 on holding stops (all in the wrong trades..haha)

I have completely changed the way I am trying to trade. Since this summer when I was most profitable I was taking smaller TP's and focusing on capital preservation. Since then I have been trying to hold my trades longer and 'grow' as a longer term trader. I am finding it challenging as it does not fit with my natural disposition towards what I view as 'right' but I realize it is a growth stage that must happen if I will choose to trade for more points which is required to make bigger $'s....

Another day at work as a trader on the journey. Again, this is not a get rich quick in x days scenario for me..

Video uploader is having issues, so will post vid later.
[yt][/yt]

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  #1069 (permalink)
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Tomorrow another day!

Do not worry about -2.9. That's just a drop in the ocean.

You'll be fine.

I traded TF today also and guess what? I'm trying another method I created last night! Haha...
I thought it's gonna make you lough and you feel better about today's trading.

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  #1070 (permalink)
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vovan348 View Post
Tomorrow another day!

Do not worry about -2.9. That's just a drop in the ocean.

You'll be fine.

I traded TF today also and guess what? I'm trying another method I created last night! Haha...
I thought it's gonna make you lough and you feel better about today's trading.

Well, at least you know your problem... haha.. Yes, this is all part of the path. Funny how we create it isn't it...

Something wrong with youtube.com today for some reason? I can't get my video's processed... Says, technical issues..

If you saw my 3rd trade it will make you cry...haha... Or scream at the monitor (meant for me)!

Yes, had some tough 'love/luck' the last couple days... Oh well...

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