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TF day trading
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Created: by bluemele Attachments:239

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TF day trading

  #451 (permalink)
Elite Member
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+1.2 points today per contract

I scaled a bit early on the 1st contract, as it slowed down and it was the 38% retracement and the movements were so small for this morning that I felt it best to lock in some points.

I must wait and trade appropriately.

I did only take one trade! It was nice!


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  #452 (permalink)
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+.3 points today per contract

Ok, again, scaled a wee bit early on the first 2 contracts. I knew I did it, but there was this fear inside of me that I must control!

The 1st entry was acceptable, the 2nd entry was not at all and a joke of an entry. I had no reason to go into it.

All n all, I could have easily been up 1.3 points today, but the market was not showing me UP UP UP UP UP like it did, so I was a bit confused.

Video

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  #453 (permalink)
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Question


.3 point means 3 ticks? Thanks

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  #454 (permalink)
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supermht View Post
.3 point means 3 ticks? Thanks

Depends on the instrument. TF = 10 ticks = 1 point.

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  #455 (permalink)
Trading Apprentice
Israel
 
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loss management and target

Hi Blue ,

Can you explain you money management plain :

0. how many lots you trade ?
1. how much is your risk per trade is that fixed ticks like 10 ticks ?

2. what is your exit plan how many ticks ? or it's based on Fib target or your high time frame MACDBB if turning against you ?

thanks

Ron

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  #456 (permalink)
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Trade of the day for 4/26/11

Hi Blue ,

nice strong day yesterday i watched your video ,


What is your Rule for taking entry setup for long or short

can you explain a bit ?

you said the trade of the day entry was at ( 9:41 area NT) i can see that also

my question is , do you have clear Entry rule like

MACD breaking the upper Bolinger Band on the 144 , the same time if you have confirmation from higher timeframe , then you would take this entry .

same for short , if MACD crossing the lower BB band, look to go short if you have confirmation from higher TF MACDBB .

thats only my tought , and i want to share with you , what do you think ?

Ron

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  #457 (permalink)
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ronbary View Post
Hi Blue ,

nice strong day yesterday i watched your video ,


What is your Rule for taking entry setup for long or short

can you explain a bit ?

you said the trade of the day entry was at ( 9:41 area NT) i can see that also

my question is , do you have clear Entry rule like

MACD breaking the upper Bolinger Band on the 144 , the same time if you have confirmation from higher timeframe , then you would take this entry .

same for short , if MACD crossing the lower BB band, look to go short if you have confirmation from higher TF MACDBB .

thats only my tought , and i want to share with you , what do you think ?

Ron

Go back a page or so and I explain the entries. It is highly descretionary with entry/exits. The key is the 5 tick stop and the guidelines are to focus on sticking to the rules with human guidance.

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  #458 (permalink)
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ronbary View Post
Hi Blue ,

Can you explain you money management plain :

0. how many lots you trade ?
1. how much is your risk per trade is that fixed ticks like 10 ticks ?

2. what is your exit plan how many ticks ? or it's based on Fib target or your high time frame MACDBB if turning against you ?

thanks

Ron

0. I am replay right now due to life schedule and living in Hawaii. 3 is what I currently practice with. I have been between 1 and 10 live.

1. 5 ticks stop.

2. fibs/trendlines and macdd's on exits...

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  #459 (permalink)
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-.4 points per contract today

Well, got chopped up a bit for my 3 trades, but I couldn't pass up the 4th. However, I didn't get filled but 1 contract which kind of hurt the trade a bit but it wasn't a big move anyways.

There was a nice short which I called but it would have been my 5th or 6th trade. I am thinking maybe instead of 3 trades that I have an and/or no greater than x loss and I can decide to trade more etc... But, the 3 trades is intended to keep me from over-trading, but ... It hasn't seemed to help me. If only I had my wife's patience!

Video (YOUTUBE Has problem???)
[yt][/yt]

This is now over 6 months of journaling every single day minus a couple, but at least I am consistent on the journal. I do believe that in my current state of working and being in Hawaii that the likelyhood of me going live and profiting is not very likely.

Everyone has a different path, some different then others and some VERY different then others. I continue to make 3 trades and not getting my 3 points a day. Until I get at least 2 points per day for 2 months, I will not go live. This could take me years, it could be never, it could be in 2 months.

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  #460 (permalink)
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bluemele View Post
This is now over 6 months of journaling every single day minus a couple, but at least I am consistent on the journal.




Quoting 
I do believe that in my current state of working and being in Hawaii that the likelyhood of me going live and profiting is not very likely.



Hey, you can't think this way. Not if you want to succeed. If you are finding success is not coming, then redefine success so that you can be successful with something less than 'net profit'. Ask yourself what your strengths and weaknesses are after reviewing your six months of journal entries. Formulate a plan to play to strengths and minimize weaknesses. Actively work it, use feedback like post it notes or alarms, be accountable - set up rewards as well as penalties for failing to accomplish tasks --- like if you are over trading maybe no TV for you If you followed your plan well then reward is whatever you enjoy, etc.

It's the small things that will get you there.

Mike

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