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"It Always Comes Back"
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"It Always Comes Back"

  #31 (permalink)
Elite Member
Wauseon, Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker/Data: thinkorswim / PFGBest
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Posts: 63 since Jan 2011
Thanks: 19 given, 41 received

March 15, 2011

This 1st trade was a sim trade experiment. It was a slight violation of the rules by not moving the stop to just above entry after the 1st target was triggered.
My automatic settings placed the stop just below the Slower EMA so I left it there after the the 1st target (+3 pips) triggered.

After a while the price moved up above my entry so I adjusted the 2nd target and the stop up a little.

I was tempted to move the price up again with the stop but was feeling a funny greedy sensation so I decided to leave everything as it was.

The 2nd target triggered at +17.1 pips

Total Trade: +20.1 pips

I feel that I should have stayed a little longer - until the short counter trend arrow.

I used to be content with any profits at the end of the day regardless of the amount but now I find I'm discontent with anything but an exit at maximum profits.

I'm finding this to be a little disturbing.

I'm only making this one trade today because I have a webinar I want to attend and I also have to go to work.


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  #32 (permalink)
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sorge2000 View Post
This 1st trade was a sim trade experiment. It was a slight violation of the rules by not moving the stop to just above entry after the 1st target was triggered.
My automatic settings placed the stop just below the Slower EMA so I left it there after the the 1st target (+3 pips) triggered.

After a while the price moved up above my entry so I adjusted the 2nd target and the stop up a little.

I was tempted to move the price up again with the stop but was feeling a funny greedy sensation so I decided to leave everything as it was.

The 2nd target triggered at +17.1 pips

Total Trade: +20.1 pips

I feel that I should have stayed a little longer - until the short counter trend arrow.

I used to be content with any profits at the end of the day regardless of the amount but now I find I'm discontent with anything but an exit at maximum profits.

I'm finding this to be a little disturbing.

I'm only making this one trade today because I have a webinar I want to attend and I also have to go to work.


Attachment 33872

almost sound like you're making up rules as you go...been there and that isn't fun at all.

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  #33 (permalink)
Elite Member
Wauseon, Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader, Thinkorswim
Broker/Data: thinkorswim / PFGBest
Favorite Futures: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received



MWinfrey View Post
almost sound like you're making up rules as you go...been there and that isn't fun at all.

Not so much making them up but adjusting them. I'm trying to counter the emotions if that makes any sense.

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  #34 (permalink)
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sorge2000 View Post
Not so much making them up but adjusting them. I'm trying to counter the emotions if that makes any sense.

I've never been successful adjusting during the trade. Just never seems to work out over the long run for me.

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  #35 (permalink)
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MWinfrey View Post
I've never been successful adjusting during the trade. Just never seems to work out over the long run for me.

You mean adjusting targets and stops?

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  #36 (permalink)
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sorge2000 View Post
You mean adjusting targets and stops?

yes...i set them and leave them alone. i also will move to be when my target is touched but not filled. i'm just not smart enough to do it any other way.

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  #37 (permalink)
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MWinfrey View Post
yes...i set them and leave them alone. i also will move to be when my target is touched but not filled. i'm just not smart enough to do it any other way.

You set them after you enter the trade. Adjusted to what the charts are telling you... support/resistance etc?

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  #38 (permalink)
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sorge2000 View Post
You set them after you enter the trade. Adjusted to what the charts are telling you... support/resistance etc?

Nope...my atm sets them and I leave them alone. They are the same for every trade, every day.

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  #39 (permalink)
Elite Member
Wauseon, Ohio
 
Futures Experience: Intermediate
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Favorite Futures: ETFs
 
Posts: 63 since Jan 2011
Thanks: 19 given, 41 received


MWinfrey View Post
Nope...my atm sets them and I leave them alone. They are the same for every trade, every day.

I typically do the same.
I don't make any adjustments until the 1st target is hit then I move the stop to a little above the entry.
More than not, I'm stopped but I still have a profit. Some times, the price continues up and I make adjustments to the stop and targets until I get the exit indicator.

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  #40 (permalink)
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sorge2000 View Post
I typically do the same.
I don't make any adjustments until the 1st target is hit then I move the stop to a little above the entry.
More than not, I'm stopped but I still have a profit. Some times, the price continues up and I make adjustments to the stop and targets until I get the exit indicator.

I have one target and use all in all out, no runners.

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