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New Beginnings: The Journal of a Trader's Journey to Equanimity


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New Beginnings: The Journal of a Trader's Journey to Equanimity

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  #71 (permalink)
 plethora 
Los Angeles, CA
 
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MetalTrade View Post
Pics or it didn't happen !!!! :-)

ROFLMAO.

And how could I have forgotten to thank you for never failing to make me laugh.

Actually, we did look at pics. shodson's wife, I hope he doesn't mind me saying, is an AMAZING professional photographer. Quite stunning photography.

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  #72 (permalink)
 plethora 
Los Angeles, CA
 
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sysot1t View Post
@plethora,

I would like to recommend something to you, which might be much simpler than Perry's system. I believe it will help you build discipline and a trading plan, which I think you lack at present time. ..

Yes, I lack discipline, sysot, but I find Perry's system to be simple. Certainly much simpler than learning NT. Maybe I am kidding myself, but it's what I think.

In any event, on top of all my issues, I do not want to add another issue of running from one indicator to another in search of the holy grail. I found Perry's system to be compelling on many more levels than I have mentioned. If I'm ever to develop discipline as a trader it will be by sticking to a plan and trading it. I do not want to jump around like a dilettante trader. I've already waisted enough time.

I know your intention was generous and I appreciate it. Thank you.

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  #73 (permalink)
 plethora 
Los Angeles, CA
 
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Can't believe I have to come back to this journal today and check in. I want to and I don't want to. What do I mean by "I don't want to"? i think people are judging me when really they are as engaged with their own life as I am with mine. What do I mean by "I want to"? In the words of shodson: "Transparency!" That is a great, compelling reason shobson gave for keeping a journal.

trans·par·en·cy   
[trans-pair-uhn-see, -par-] Show IPA
–noun, plural -cies.
1.Also, trans·par·ence. the quality or state of being transparent.
2.something transparent, esp. a picture, design, or the like on glass or some translucent substance, made visible by light shining through from behind.
3.Photography .
a.the proportion of the light that is passed through the emulsion on an area of a photographic image.
b.a photographic print on a clear base for viewing by transmitted light.
-having the property of transmitting rays of light through its substance so that bodies situated beyond or behind can be distinctly seen.

trans·par·ent   
[trans-pair-uhnt, -par-] Show IPA
–adjective
1.having the property of transmitting rays of light through its substance so that bodies situated beyond or behind can be distinctly seen.
2.admitting the passage of light through interstices.
3.so sheer as to permit light to pass through; diaphanous.
4.easily seen through, recognized, or detected: transparent excuses.
5.manifest; obvious: a story with a transparent plot.
6.open; frank; candid: the man's transparent earnestness.
7.Computers . (of a process or software) operating in such a way as to not be perceived by users.
8.Obsolete . shining through, as light

--------------------------------------

So what did I do today?

I admired my new chart for 6 1/2 hours during trading hours. Despite some flaws I was too lazy to correct, I couldn't take my eyes off it. The chart advices when the market is choppy and says "CHOP". LOL. Those must have been the times when I was in the market throwing my money away. Today I had no compulsion to do anything other than defer to the signals on the chart. Other times the chart says, "Trade". In awe, I was totally enamored with my chart. I took five trades today all in my head because I don't have an ATM strategy set up. The trades in my head had to be easy so I could keep track. My target with two ES contracts was four ticks, or 1 point, with a four tick stop. I made one point on each of the trades and was not stopped out on any trade. I couldn't believe the trading opportunities kept coming but they did. Frankly I was scared to take each trade today and wished I had been nearly as frightened to take all the losing trades I took with real money. It was odd. Here I was paper trading and I felt I had more at stake than when I used real money. The difference now and before was that today, each time I took a trade I honestly couldn't be certain if it would be profitable. The best I could do was follow the rules. I had a mental check list and reviewed each rule, then said "check" like I was preparing to fly a plane with the utmost safety and care. Still I just couldn't be certain. But that's what stops are for, isn't it, I thought. You're wrong and you're out. No big deal. It's like a life preserver to keep you afloat. Ironically in the past when I traded recklessly, I always thought I would make money. It never occurred to me I could be wrong even though I always was. Often I thought if I took the exact opposite trade than I did I would have been profitable. But that's not entirely true. My biggest issue was that my winners always turned to losers. So I decided that more important than profits are winning trades, because down the road I could easily increase the contract size. All in all my sense of fear today felt good, and the expectancy of tiny profits accompanied by the acceptance of potential loss felt healthy. My former experience of being unable to control myself was not present. Sure I wasn't trading with real money. But, hey, everyone has to start somewhere, and I am starting at the beginning again.

As I said I would, I typed my notes from being with shodson into a separate folder earmarked for NT studies. I need to read Perry's thread again and when I get my charts the best that I possibly can I'm going to take a snapshot with of each of the parameters and ask him to check it for me. The last thing I want when I begin to trade with the Simulator are incorrect charts. I actually played around with the drawing features on NT and can now identify entry and profit points. Each day I'll post my daily chart on the thread and ask for feedback in terms of better entry's I might have taken.

On Tuesday, my three week anniversary here, I'll begin trading with the Simulator.

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  #74 (permalink)
 shodson 
OC, California, USA
 
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Plethora,

Got an update? How's it going?

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  #75 (permalink)
 plethora 
Los Angeles, CA
 
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shodson View Post
Plethora,

Got an update? How's it going?

Busted!


I was thinking of registering again at futures.io (formerly BMT) with a different name so I could have an identify change. No one would know me.

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  #76 (permalink)
 Big Mike 
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  #77 (permalink)
 cory 
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sometimes not burden by the past is a good thing.

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  #78 (permalink)
 Linds 
Victoria, Australia
 
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ok have you gone incognito?
Ive just started simming Perrys method and am interested in how you are going with it so can you share your new identity pls.

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  #79 (permalink)
 plethora 
Los Angeles, CA
 
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Linds View Post
ok have you gone incognito?
Ive just started simming Perrys method and am interested in how you are going with it so can you share your new identity pls.

I just sent you my email address. Feel free to write.

I'll actually be returning to a journal next week, as Big Mike's brilliant call to journaling has reinspired me. Frankly, I was going to start a new journal but I guess there's really no good place to hide here.

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  #80 (permalink)
 plethora 
Los Angeles, CA
 
Experience: Intermediate
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Big Mike’s March Journal Contest inspired me to return to my journal.

I am able to trade only on a laptop in a reclining position due to a back injury that is healing slowly. I had to abandon Perry’s system and my new three-monitor computer using NT because my doctor doesn’t want me to sit up in a chair. So on my MacBook Pro, without a mouse, I will be using TOS and a simple strategy that I have been watching MWinfrey trade with much success. Thank you, Mike. I have made some modifications to that strategy and written up my rules below, which include two Methods. The first two weeks of March I will trade on the Sim and the last two, live.

Time Frame: 5 Minutes

Indicators:
1- Heiken Ashi Candlesticks
2- SMA (50)
3- SMA (21)
4- SMA (8)
5- Slow Stochastics

Cars: 3

PT: 20 Ticks

Stop: 15 Ticks

Instruments: CL and 6E

Daily Trades: Six to 10

Time: 24/7

Rules:

Trade with the trend only. Take long trades above the SMA (50) and short trades below it. No exceptions.


Method 1

Long:
SMA (8) crosses up above SMA (21) and SMA (8) is above SMA (50) but SMA (21) doesn’t have to be above SMA (50). Just as long as 8 is above 21 and crosses 50.

Minimum one Green 5-minute candlestick required for confirmation with a bigger body than the preceding red candle. Doji’s don’t count.

Entry candle must be Green.

Stochs are pointing up.

Entry: Limit Long on SMA (8)

Exit: First red candle if PT does not hit first.

Variation: Despite size or color of preceding candle, if a MONSTER sized green candle crosses and closes above cross of SMA (8) above (21) and (50), enter at the next candle at opening price.


Short:
SMA (8) crosses below SMA (21) and SMA (50). Minimum of one Red 5-minute candle required for confirmation with a bigger body than the preceding green candle

Entry candle must be Red.

Stochs are pointing down.

Exit: First green candle if trigger not hit first.

Variation: Despite size or color of preceding candle, a MONSTER size red candle crosses and closes below cross of SMA (8) above (21) and (50), the next candle at open.

Method 2 Retracement

Long:
SMA (8) above SMA (21) above SMA (50) and red candlestick tail retraces to and touches SMA (50) ore even nearly touches 50, wait for the next green candle to close and place limit order on SMA (21).

Long Variation:
Instead of the candle tail retracing and touching or nearly touching the SMA (50), the BODY of the candle touches or even overshoots the 50, after waiting for same single green candle as confirmation, the entry may be on the SMA (50) instead of the SMA (21).

Short:
SMA (8) below SMA (21) below SMA (50) and green candlestick tail retraces to and touches SMA (50) ore even nearly touches 50, wait for the next red candle to close and place limit order on SMA (21).

Short Variation:
Instead of the candle tail retracing and touching or nearly touching the SMA (50), the BODY of the candle touches or even overshoots the 50, after waiting for same single green candle as confirmation, the entry may be on the SMA (50) instead of the SMA (21).

Observation: the entry points are either the SMA (8), (21) or (50) depending on the setup. Of everything in this methodology the challenge for me will be executing the entry precisely where I want it to go. Same with Perry's system, I mentally knew where the entry should be but -- was too slow making things happen. ENTRIES will be my focus this week.


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