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bobs qwest to attain consistency

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  #161 (permalink)
 bobarian 
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bluemele View Post
I found this works for not only trading but real work!

I agree Bluemele.I thimk my max, is really 2 hours.The Cl , because of the monthly rollover, can get iffy during the 2nd and 3rd weeks, because the vol gets split.At any rate, fo me, the best time to trade , for the cl, is 8:30 to 10:30 eastern.I dont get too many premarket trades, as i return from dropping off my kids at school, by about 8:40.The important thing, is to be 100% focussed, and this has been a work in progress for a long time.The good thing , is ive gotten alot better in this area, but, there are times, when i do miss trades still.
Thanks for the comments!

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  #162 (permalink)
 bobarian 
whitestone, new york
 
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11/27/2011

I read most of the book, and it has been very good.A reinforcement for alot of my beliefs.Discipline and patience.Also, i saw Al Brooks video in the forum on price action.Very good.For a while, it really has been a nagging feeling that i really needed to get back to price action, on the longer time frames.The quest i went on to find a scalp trade , and focussing on only 1 (4 range chart), was an interesting journey, but i obviously still have questions.Another interesting weekend of thinking(pondering).....No setup is ever perfect...hmmm.Alot of the progress is not so much about the perfect trade, but, instead, learning what to stay away from....

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  #163 (permalink)
 bobarian 
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11/28/2011
4 trades
+230 net
the only mistake, was exiting too early on one of them
4 /4 winners.Its been a while , since i had a decent day, so, ill take it.What did i do differently today?After some hard thought, which has been for a while, i am looking at the trend on a longer range chart(3 min), and using my 4 range entry ch in coordination with the trendlines from the 3 min.After watching Al Brooks webinar on price action, and also whats been nagging me for a while, its really about less is more.If i base my entries on the 4 range , in accordance with the 3min trend, i think that makes more sense.In the past, ive really only been watching the 4 range.The reason, is i just want to stay simple.Too many charts, ends up keeping me out of trades.However, after doing this for a few months, its aparrent that this is not enough.As far as using the 3 min?.I prefer it over the 5 min, for a trend
I will say, that for a while , i have been reluctant, to watch webinars about other traders and their methods.I feel that, progress is slowly being made, and switching methods is counterproductive, and very time consuming.Also, with the work in progress regarding patience and discipline, well, that is aleays going to be a work in progress.So many areas to be disciplined in, and we must stay focussed on the big picture.

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  #164 (permalink)
 bobarian 
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11/29/2100
tuesday
2 trades
1/2
net be
2 counter trend trades, which is not what i am lookin for.The am session ran away from me, alot trickier than yesterday.i just missed a few entries, market was moving quickly.When i really have to look for the entries, its pretty obvious, what is happeningI was away, picking up my kids from school, when the nice trend came in.The 3 min pic shows the type of trade that i want to focus on

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  #165 (permalink)
 bobarian 
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12/1/2011
thursday
4 trades
net+$110
i mades 2 mistakes today,1 one was a bad trade , and another went to my goal of +10, and i let it come to be.The other 2 were +10s.
I decided to put up a 1 min chart, basically the same chart Panda warrior is using.I wanted to do a comparison , with the 4 range, to see if something jumped out at me.I think , the 4 range by itself, isnt enough, and for a while, was using a 5min, then a 3 min.Oy!!! yes, no kidding, alot of changes.i know.2 things that were mentioned in another journal, that got me thinking(again).First, that cl traders rely on minute charts,more so, than range charts.Also, buy into the buyers, and sell into the sellers.I have , for so long, been so obsessed with getting the early entry.Sometimes early is too early, sometimes not.
It is interesting to see the correlation between the 1 min and the 4 range.I used the 1 min for a long time, so i am comfortable with it.After 2 days , i will just stay patient, and not draw any conclusions.I know the pifalls of using different strategies, and trying to integrate them.Also, just like anything else, 1 day they might work great, the next , not.Thats why this takes so much time.Every time a change is made, it needs to be tested realistically.Funny, using the 1 min as my long range chart.Today would have worked well, using the 2 charts in tandem, however, we will see if this is the case after a while.Also, when price pulls back to the 89, price will obviously be on the other side of the 21.So far, it seems to me, that if indeed price will use the 89 as a pivot, pullbacks seem typical.This, if i decide after a while(not just 1 day) is the case, will determine my entry strategy.I might let the 4 range correct itself, then enter.Or , enter as normal, and be aware of a potential add.Since i am ony trading 1 contract, the potential add will be noted.
I go on vacation saturday, so wont be trading next week.A break that i really need.lol!!bringing two 3 year olds on vacation! imight not make it!lol just kidding.
One more thing...I felt a bit hesitant about posting the new chart, being that , in total, it is PandaWarriors chart.I saw his chart in his journal, and i really liked the method.I also studied Perrys method, and since i have begun to lean toward price action as my indicator, i wanted to give it a try.One of the many great things about Big Mikes, is people can come to learn, or help others.I for one, dont take any of the people for granted, and am very thankful for the comments and suggestions from other traders.

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  #166 (permalink)
 Big Mike 
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bobarian View Post
One more thing...I felt a bit hesitant about posting the new chart, being that , in total, it is PandaWarriors chart.I saw his chart in his journal, and i really liked the method.I also studied Perrys method, and since i have begun to lean toward price action as my indicator, i wanted to give it a try.One of the many great things about Big Mikes, is people can come to learn, or help others.I for one, dont take any of the people for granted, and am very thankful for the comments and suggestions from other traders.

There is nothing to worry about on duplicating someones chart, if you like their chart.

I think that only if you find yourself regularly jumping around should you be concerned. This is mainly because jumping around from one chart to another, one method to another, is usually a result of searching for the holy grail --- trying to find some external set of 'something' that is going to turn your trading around. And the focus should be within, instead.

So use whatever chart you want, have no fear... just try to keep changes minimal and gradual, I say no more than 2 changes in 2 weeks --- including instrument, indicators, colors, chart type, etc. That way you have a chance to actually see if the changes are helping or hurting.

Enjoy your vacation



Mike

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  #167 (permalink)
 bobarian 
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i agree Mike, and i have been trying not to change anything, typically for atleast 2 weeks, even longer.I dont want to try to fit the charts to the current market, its more important to wait for the scenario i like, which usually happens every day.Im in the process of forming rules here, and these pics are just the start.They might be altered , changed, whatever.I just want to get them down, so i dont forget

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  #168 (permalink)
 bobarian 
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Another thought on the news..typically, when price jumps , from news, the mas get way out of wack.It seems to me, that the ma retracements just arent reliable.This could sideline me for a while, until a reasonable trend deveolps.I will try to stay out until atleast the 2nd retrace.But, im not sure that is good enough.When emotion comes in, the trend gets pushed all over the place, and the important fact: risk is much higher

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  #169 (permalink)
 PandaWarrior 
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Just my random thoughts on your chart. Pay no attention if they are not helpful.


Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #170 (permalink)
 bobarian 
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Thank you Panda warrior, ive been goin over this all day.Ilooked at some of your older posts,to get more clarity on what your entries were all about.Entries are such a grey area, stops too.I just want to have my rules, and then execute.The exhausting part, is making the rules imo, because it takes many days, with different markets, to get a common denominator to stick with.I was surprised to see the 8 range up there.It seems that, just in the last month , everything came together for you.Kinda like , everything finally sped up, and you were off to the races.
I felt close a bunch of times, to going live, only to continue working.I know its right there in front of my eyes, i just need to realize it.Continue with the great trading, and thanks again

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