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TF day trading

  #151 (permalink)
 
bluemele's Avatar
 bluemele 
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iagainsti View Post
Interesting video, but I was about to fall asleep. Kind of like watching Al Brooks. Probably a brilliant man and great trader, but not great with the speaking or teaching skills.

This isn't a training video. This is just a student recording his trading. We all do it. Sorry for the confusion.

If you want training vid's then you have to sign up for the course etc..

I think Danielle's trading videos are more instructive as she is very VERBAL, but Roger, Judy and Horsts are pretty quiet as I think they do most of the talking in their head.

I know when I trade that I do better when I talk out loud as it forces me to THINK.

Also, they edit to keep their vid's to be shorter.

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  #152 (permalink)
 
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 bluemele 
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Ok, I thought I would share my first 2 weeks of trading with everyone.

My mentor will probably not be happy with this progress, but I am crawling out of unprofitability.

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  #153 (permalink)
 
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 ThatManFromTexas 
Houston,Tx
 
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bluemele View Post
Ok, I thought I would share my first 2 weeks of trading with everyone.

My mentor will probably not be happy with this progress, but I am crawling out of unprofitability.

Tell your mentor to ....



You've been in the black since since the 5th.
Your mentor should buy you a Fifth.
Obviously what you are doing is working, keep doing it!

Regards,
TMFT

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #154 (permalink)
 
bluemele's Avatar
 bluemele 
Honolulu, Hawaii
 
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ThatManFromTexas View Post
Tell your mentor to ....

Attachment 28545

You've been in the black since since the 5th.
Your mentor should buy you a Fifth.
Obviously what you are doing is working, keep doing it!

Regards,
TMFT

Hahha... Well, he has high standards for his students I guess.

Once I 'let go' and accept the market, I believe you will see marked improvement.

Thanks for your support!

Aloha!

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  #155 (permalink)
 
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 bluemele 
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+ 4 ticks per contract today after commissions (well, rounded up)

Today was a day to really learn, reflect and focus in on what I am doing wrong.

1. 2nd Trade was a disaster Trade. What has caused me to be unprofitable the entire time. No reason to enter besides pullback! Stupid, and it must stop.

2. I didn't hold my trades. I felt it was short, but I didn't want to risk making a gift. I have to be OK w/ that.

3. Scaling again way too soon!!!!!!

Nuf said.

Trades:

1. -5 ticks, I clicked 7 ticks higher for the short as this was the 61% retracement. I was surprised I got filled so low and I was considering exiting, and in hindsight I wasn't being technical and I was emotional when I saw that the bar had jumped and filled me so low. The volume was quite low and bars were moving big time with little effort.

2. -4 ticks, Filled 2, then a 3rd one, but there was absolutely no reason to take this trade. NONE.

3. +0 ticks, This was a drop from the 76%. I could have chosen to stay out as the volume was forcing the bars to jump around like a Richter scale. It was an area and I decided to stick with it.

4. +0 ticks, 89% retracement area, good looking to me, but I thought I was safe and within 1 bar, bam, out. I liked the entry as it kept me within 5 ticks and I considered several opp's to get in lower, but avoided it.

5. +4 ticks, I clicked much higher on this one but it didn't fill me so I chased it a couple ticks. Volume still low and had I held this I would have been able to stay in by the skin of my teeth. I was becoming emotional at this stage and decided to pull out early with a 5 tick profit on 2 contracts. It was bouncing off 200MA and it looked juicy for a long.

6. +12 ticks, This was good trading in my opinion. Even though it ended up coming down and taking me out which I forecast. The two prior green arrows looked good also and I would have been out at BE+1. I had a SLM waiting for this! It was good, but my early exit cost me 100.00.

Had I been patient, I most likely would have caught that nice run down for probably 3+ points (30+ ticks).

Next time.

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  #156 (permalink)
 
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 bluemele 
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Ok, well, what can I say. I didn't stick to my plan, but I did do a good job of hanging onto my trades, although today that was not to my benefit!

Today my focus was the fib area's and holding my stops. I believed I saw a pattern whereby the market open would lead up to the 50% or the 76% and then drop like a rock.

Well, I was half right. I was leaning more on the 76%, so I didn't take the short at the 50% and boy did that cost me. I believed there was too much support and the fact that the market has ranged lately after RTH open that I would be good to go on a retrace. NOPE.

A couple trades were not necessary, but overall, I believe my plan was good, but just not hitting it today. Not upset, frustrated or anything. Days like this will happen.

Trades:

1. -4 ticks, Moved my stop, expected it to go to 50% or 76% and it pivoted on the 50%, so I would have probably been knocked out at BE+1 anyways.

2. -6 ticks, Thought I was at support and 50% retrace.....

3. -5 ticks, Same...

4. -6 ticks, a little slippage on exit, but reasonable. I thought the 88% retrace was it!

5. -5 ticks, looked like it was building up support, due to ranging market lately I figured this could be a turn.

6. +14 ticks, Good entry, relaxed and saw more down, but I had a big area coming up just below this entry, so I scaled out a bit too soon. Market dropped another 4 points.

7. -4 ticks, good Round Number and 76% retrace area on larger pivot.

I don't know why the market turned where it did. But since it was ranging then I decided to stop for the day. I was thinking it was going up to close the GAP but the 50% retrace proved too strong.

I was ignoring my MACD's today a bit which is never a good idea. Due to the ranging market I was having a hard time seeing the shorter term timeframes etc...

Holding my trades was good. No emotions which was good. I placed double arrows where I would have taken more aggressive trades. Funny how they were the only god trades.

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  #157 (permalink)
 
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 Big Mike 
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Small suggestion.

If you are having trouble following your plan then scale the plan back until you are able to follow the scaled-back version 100% for several days, then slowly add to it from there.

One approach would be to only allow yourself 2 or 3 trades a day, period, no more, no matter what. That might be enough to get you to focus 100% on your plan.

Another approach would be to eliminate some of the rules from your plan temporarily, and make sure you can follow the reduced rule set for several days.

Remember, measuring your execution is independent from profit, so don't get caught up on whether or not the trade or day ended with profit or loss. Not right now, at least. Once you have a couple weeks under your belt of 100% following your plan you can turn your attention to whether or not that plan is profitable.

Mike

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  #158 (permalink)
 
bluemele's Avatar
 bluemele 
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Big Mike View Post
Small suggestion.

If you are having trouble following your plan then scale the plan back until you are able to follow the scaled-back version 100% for several days, then slowly add to it from there.

One approach would be to only allow yourself 2 or 3 trades a day, period, no more, no matter what. That might be enough to get you to focus 100% on your plan.

Another approach would be to eliminate some of the rules from your plan temporarily, and make sure you can follow the reduced rule set for several days.

Remember, measuring your execution is independent from profit, so don't get caught up on whether or not the trade or day ended with profit or loss. Not right now, at least. Once you have a couple weeks under your belt of 100% following your plan you can turn your attention to whether or not that plan is profitable.

Mike

Mike,

Thanks. I think the plan is profitable, but it is very discretionary so every day and move is different. It is more price action than indicator really.

If I have another day like today, this week, then I will just start watching the charts again for a couple days and focus on what I am not seeing. I guess I was probably interpreting too much into the market to 'range' as I have been waiting for a breakout for some time and got it today vice other days. I guess I had expected more strength like other days.

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  #159 (permalink)
 
bluemele's Avatar
 bluemele 
Honolulu, Hawaii
 
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+1 ticks per contract today.

Well, I was up to +15 ticks per day and considered closing down for the day. It would have been a wise decision.

The market movement or dynamic has DEFINITELY changed. I believe this comes w/ experience on how to identify this market and adjust to the way it is moving.

Basically I am 'over-steering' from focus on one method to another. I am doing a good job of not over-doing it and waiting for Area's, but I am trying to be too precise and saying well it didn't move off right on the tick so I won't go in again etc..

You can see I am close to the pivots (mainly) but I wasn't good on nabbing them today. I am happy with the way I traded. Very few pullbacks to allow entry or identify where we are on the fib's. I guess that would be a good clue to stop for the day.

Trades:

1. +15 ticks, good trade, late getting in, but saw weakness. Scaled a bit early on this, but again, no idea it would be so down down down. I expected due to the separation on 4181 to be hading up to a resistance area and then drop.

2. -1 ticks, I saw it wasn't an area, so I exited but it didn't fill my stop limit on 1 contract.

3. +0 ticks, It was a 50% retrace and looked weak w/ divergence. I exited as it looked like it was going to push more.

4. -7 ticks, blew through my stop! Had an area of 76% and MACD's looked good.

5. -6 ticks, Nice area, looked weak. I could have stayed with it, but I as a bit frustrated or emotional at this point. Realizing that I am being too conservative to hit a nice pivot. Trying to figure out how it is moving.

I considered a long at the pivot up, but decided against it as I promised myself only shorts because of the MACD's on longer timeframes. I expect more down coming.

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  #160 (permalink)
 
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 ThatManFromTexas 
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Some days are diamonds some days are stones ... John Denver

Sometimes chicken ... sometimes feathers ... TMFT

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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