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TF day trading
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Created: by bluemele Attachments:239

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TF day trading

  #211 (permalink)
Elite Member
mumbai maharashtra/india
 
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jinhar's Avatar
 
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Please do ignore this if it sounds stupid .. Just my observations .. You are concentrating on larger runs and you were bang on to what market was gonna do but you are firing trades to early ? and when finally u got it right you exited quickly ? Y not just concentrate on the current run for example when market opened your all the macd's were telling down move apart from 4181 tick chart ? after that long move you again started taking short and again your all charts were against you apart from 4181 ... the only point i wanna make is simplify go back to 1st 4 charts and get done .. again .. m sorry if i am wrong .. just something i wanted to share .. Happy trading

Best Regards
Jinhar

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  #212 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
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jinhar View Post
Please do ignore this if it sounds stupid .. Just my observations .. You are concentrating on larger runs and you were bang on to what market was gonna do but you are firing trades to early ? and when finally u got it right you exited quickly ? Y not just concentrate on the current run for example when market opened your all the macd's were telling down move apart from 4181 tick chart ? after that long move you again started taking short and again your all charts were against you apart from 4181 ... the only point i wanna make is simplify go back to 1st 4 charts and get done .. again .. m sorry if i am wrong .. just something i wanted to share .. Happy trading

Best Regards
Jinhar

Jinhar,

Good obervation and you are correct!

To answer Mike's post also. I am taking a week off from trading because I think I have figured out the real issue.

1. Moved back to Hawaii (stressful moving from mainland to an island)
2. My 2 children (3 and 8 months) have been sick w/ fevers so that means little sleep
3. Two of my Real Estate development projects just moved into overdrive mode and we are getting ready to break ground.
4. I have been sick also off/on w/ throat/fever etc..

Now, having said that a wise man would not trade in those circumstances and to be honest, I don't know what I am doing on the clicking as it is almost like my brain is not functioning. Too much stress and not enough rest.

Per Mike, yes, will do when I come back and get back to just a few trades. Horst and others have been a great support for me, but everything is blurry and confusing to me.



Thank you for reading.

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  #213 (permalink)
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Chicago Burbs
 
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Hi Bluemele,

Glad you're taking some time off. It's probably just what you need. Relax and take a few deep breaths. I've always had the notion that each traders PC should be hooked up to a heart monitor. As soon as your heart rate goes up by X amount, the PC shuts down in 30 seconds. Problem solved. If someone isn't in the proper frame of mind to trade, this would be a fail safe way to avoid financial self destruction. Like the alcoholic that needs to blow into the sensor, each time before the ignition will engage to start the vehicle.

In lieu of a heart rate monitor you would need to realize when you are, or are not, in a good trading frame of mind. Ever try meditating before you open your charts? Come back when you have a handle on your emotions again. The market will be here waiting when you get back.....promise.

On the technical front, you are trying to change your trading style, and get back to what we were taught. That's a big leap, trying to break old bad habits. Historicals is what I think would help immensely on the technical end. Picturing runs with only 2.5 points plus potential, need to be part of your structure again. Enough of this pivot to pivot trading you have habitually ingrained into your brain. If you don't see a 2.5 point plus potential.....wait for it. You have Keltners on your chart for a reason. One end to the other....remember? Revisit your macdbb bulges/separations, and ingrain each of the time frames point potential by their timeframe/separations worth. eg. bulge on the 377 is worth how many points? 610? 1597? You've spent 1.5 years mastering the precognitive abilities available to us, but you aren't implementing but a small portion of what you are capable of. You have all the pieces, and it's time now that you put them all together. Each one alone is weaker than all combined and working in harmony. Together as a team, they will give you that 80% success ratio you keep hearing about.

I know this is all old stuff to you, but my observation tells me that you know all this, you just aren't implementing it anymore. You have gotten off the track. All we need is one good run a day. Stop looking for that dozen or so. Like Mike said, limit attempts to 3 on an entry. If you only have so many bullets, you might use them more diligently. If it doesn't have that 2-3 point potential.....don't shoot at it. Sit on your hands and practice PATIENCE........................

Wishing you Success Bro....
Horst

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  #214 (permalink)
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er2wizard View Post
Hi Bluemele,

Glad you're taking some time off. It's probably just what you need. Relax and take a few deep breaths. I've always had the notion that each traders PC should be hooked up to a heart monitor. As soon as your heart rate goes up by X amount, the PC shuts down in 30 seconds. Problem solved. If someone isn't in the proper frame of mind to trade, this would be a fail safe way to avoid financial self destruction. Like the alcoholic that needs to blow into the sensor, each time before the ignition will engage to start the vehicle.

In lieu of a heart rate monitor you would need to realize when you are, or are not, in a good trading frame of mind. Ever try meditating before you open your charts? Come back when you have a handle on your emotions again. The market will be here waiting when you get back.....promise.

On the technical front, you are trying to change your trading style, and get back to what we were taught. That's a big leap, trying to break old bad habits. Historicals is what I think would help immensely on the technical end. Picturing runs with only 2.5 points plus potential, need to be part of your structure again. Enough of this pivot to pivot trading you have habitually ingrained into your brain. If you don't see a 2.5 point plus potential.....wait for it. You have Keltners on your chart for a reason. One end to the other....remember? Revisit your macdbb bulges/separations, and ingrain each of the time frames point potential by their timeframe/separations worth. eg. bulge on the 377 is worth how many points? 610? 1597? You've spent 1.5 years mastering the precognitive abilities available to us, but you aren't implementing but a small portion of what you are capable of. You have all the pieces, and it's time now that you put them all together. Each one alone is weaker than all combined and working in harmony. Together as a team, they will give you that 80% success ratio you keep hearing about.

I know this is all old stuff to you, but my observation tells me that you know all this, you just aren't implementing it anymore. You have gotten off the track. All we need is one good run a day. Stop looking for that dozen or so. Like Mike said, limit attempts to 3 on an entry. If you only have so many bullets, you might use them more diligently. If it doesn't have that 2-3 point potential.....don't shoot at it. Sit on your hands and practice PATIENCE........................

Wishing you Success Bro....
Horst

Good point.

I agree and I think it comes down to you know that high you get when you are adrenalized from 'stress'. Good stress or bad stress. You think you are 100%, kind of like the drunk driver who says he isn't drunk.

I will be back on track soon, but I think the week off will be nice. Your vids are helping a lot!

Thanks for helping me!

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  #215 (permalink)
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Wow, just market replayed Friday. Another day of no retracing! Wow....

I would have gotten killed that day as well had I not limited my trades to 3 again.

I am realizing the weaknesses of counter-trend trading when the market is bull bull bull.

Trend traders must be VERY happy this week.

The long's were a little more evident on Friday and the key is to grow as a trader and to take w/ the trend.

What a bullish 2 weeks for the TF.

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  #216 (permalink)
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-5.4 points per contract

-5.4 points per contract today.

Well, same trap, different day. No excuses for the poor trading. I chose to do it. I reviewed briefly my trading and boy, am I not following the rules.

What will I change?

Good question.

I realize the 3 trades would have been all and it would have made me 'savor' them more. Honestly, I couldn't do it. It was like a gambling addict needing to gamble.

Same thing that happened to me last summer. Different day, same bad pattern behavior except it was on a live account losing 1K per day. I couldn't walk away. It is a festering feeling of anger, frustration, desperation...

I haven't seen any TF vids from the trading group I am a part of. I hope some post some vids so I can see how to read this baby a lot better. Wife is trading market replay now. She is heading short also, interesting to see someone commit the same mistakes when you know what is going to happen. Of course she has taken one trade and by that time I had taken 6 or so!

Enjoy.

Review vid


Full vid

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Last edited by bluemele; February 14th, 2011 at 02:21 PM.
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  #217 (permalink)
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I sit here thinking about my trading.

My wife hit be+1 on her one trade and stopped trading for the day.

I really really want to blame the indicators. I want to blame the week off. I want to justify all those things that are not internal and cast blame on them.

I knew most of those trades were shite, but because I am not trusting myself I do not pay attention to the normal voice of 'don't do that'

Interesting.

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  #218 (permalink)
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Ok, just got some input from some others. Thanks for that non-public coaching.

I guess one could be a bit embarrassed by the poor trading. Part of me (the part with any ego left) is, but I think it does not matter as it is just a period of learning taking place. I will remain positive and progress towards my goal of pulling $ out of the market daily.

Others in my group did well today, so it is definitely me and the way I am interpreting the market and the way I am behaving emotionally.

I will begin taking on historicals for the sweet move of the day and that should help.



Hasta Manana!

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  #219 (permalink)
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Hi Bluemele,

Been following your thread for a while, got to say that I have been a member of the same group as you and Horst for the past two months. Honestly, it is very hard to read your posts and I tried to watch one of your videos but the negativity, second guessing, the uncertainty, the doubt, etc. was too much for me. I think you need to focus on the First Bar and not for a day or two. Talking like you need to make changes (tapping, etc) and than going right back to trading live, I don't know how anyone could be consistently successful. I keep hoping you will do what you really need to do to get all the negative subconscious sabotaging out of you. There is a reason 90+% of all traders fail, and it isn't the trading system or methodology.

I'm doing First bar work mainly after 2-months and I am still not trading live yet. I need to have total confidence in myself, in my reactions and in my thoughts and emotions and I cannot have anything that would take away from myself having total belief that I am a great trader, I am a great Chart Technician and I know I am doing exactly what I need to be doing at this moment to have the success that less than 5% of the people who come into this market have. You need to do more than take time off, you need to get back on track if not start over in some ways or you will continue to get the same results that you are getting right now. Read Science of Growing Rich, over and over until you fully understand what it takes to have the kind of success that most people dream about, but that only a few who really apply the principles of what Wattles talks about achieve. It is more than positive thinking, that is dreaming or hoping. It for me has been the toughest thing I've done (reprogramming my subconscious), but I can already see the rewards happening in my life. I am very grateful for what I have learned so far, which has given me back more than I paid to become a member.

Good luck, I'm pulling for you, but only you can do what is necessary (not your coach, not your indicators) to succeed in this business. I believe you are in the right place (I know I am), you just got to use the tools and information that have been given to you in a certain way to have the success that you want !
Steve L

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  #220 (permalink)
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Steve,

Thanks, that is a good post. I agree. I haven't read the book, but many like it and will have to take a look. Right now, time is short, I stayed on the regime for a good many months, and have fell off, on, off, on etc..

Can you point the 'negativity' out specifically from what you see as I see some of it, but would like to see it from your perspective. Of course after a poor day of poor habits it comes out, but specifics would be nice.

Thanks again and wishing you the best on your journey.

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