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bobs qwest to attain consistency

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  #181 (permalink)
 bluemele 
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I didn't expect the accent... I love New York..

Some comments on your trades. The one with the higher R:R you hesitated and didn't take and the one with much less R:R you hesitated on but took (story of my life). Can you post your rules again clearly for your entries and that makes watching it a bit easier to figure out what you are doing right/wrong etc....

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  #182 (permalink)
 bobarian 
whitestone, new york
 
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bluemele View Post
I didn't expect the accent... I love New York..

Some comments on your trades. The one with the higher R:R you hesitated and didn't take and the one with much less R:R you hesitated on but took (story of my life). Can you post your rules again clearly for your entries and that makes watching it a bit easier to figure out what you are doing right/wrong etc....

thanks bluemele, funny thing, i love Hawaii..was there like 20 years ago.The 1 min ch on left is identical to pandawarriors, and the 4 range on the right has a 3 ma and an 8 ma, on the bottom is a macd at 3,14 ,9.
i have had the 1 min for a few weeks, and basically, i am using the same guidelines(i think)that pandawarrior uses.The 4 range, which ive been using for over a year, can sometimes offer insight into price action.I am still working out the rules, kinda mosying my way through it.The mas on the 1 min are the areas that im looking for a trade,With the trend.
The videos are so helpful, hearing what im thinking at those times, obviously we would forget that on just a chart pic.Then, i analyze later, sometimes over and over.

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  #183 (permalink)
 PandaWarrior 
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bobarian View Post
12/15/2011
5 trqdes cl
-$35 net
an interesting day, im still getting through some timing issues, and correlating the 1min and 4 range, and positioning entries, that make sense on either or both charts.I finally put a clock up, which should help.I will try to upload the video of the days trades
ok , so the video worked well..Man , its much more useful, seeing and hearing in real time.The combination of the 2 charts, complicates it, but, i believe in time, once i dial in my rules, it will be easy.All in all, im content with the day
after watching the video 3 times, i see some things that are very positive.The 1 minute is the boss, but sometimes, its useful to use the 4 rng for the entry.
One issue, that i need to figure out, is taking the 1st signal off the 1 minute, when the 4 range isnt quite ready.Typically , there will be a poi(point of interset), that, i can atleast put a limit order at, because , if it blows thru it, price might not pb.Or, if there isnt a good poi, i just need to wait for the 4 rng.And with that, it would be an entry thats crossing the zero line on the macd, or one that just crossed, with a slight pb.Always be aware of divergences on the macd

A couple of thoughts.

1. You talked about putting the stop in the right place a couple of times. Yet you didn't do it. In fact, you said you could never do that. I submit for your consideration that you must do it. Poor stop placement will kill you. You need to put it in the correct place. Once price goes in your direction you can tighten but the initial stop must be done correctly. The first trade you took on this video you got stopped out, price reversed at your stop and went on to be a winner which you missed. Had you had your stop in the correct place, you would have made money on a well executed trade.

2. Ninja has a standard indicator called "Bar Timer". It will count down how many seconds are left in your bar. I use it extensively.

3. I think you are doing well on your price action reading. I would suggest you be somewhat more aggressive. I don't like the 4 range but can see your logic in using it so since it seems to be working for you, keep using it to time entries. I just noticed several times on the video you seemed to have the PA right but really hesitated to take action. On the 4 range, you can afford to be aggressive and at the same time, be stingy with the stops.....just be stingy AFTER price has gone in your favor.

Enjoyed the video though. well done. I learned some stuff today watching your video.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #184 (permalink)
 bobarian 
whitestone, new york
 
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PandaWarrior View Post
A couple of thoughts.

1. You talked about putting the stop in the right place a couple of times. Yet you didn't do it. In fact, you said you could never do that. I submit for your consideration that you must do it. Poor stop placement will kill you. You need to put it in the correct place. Once price goes in your direction you can tighten but the initial stop must be done correctly. The first trade you took on this video you got stopped out, price reversed at your stop and went on to be a winner which you missed. Had you had your stop in the correct place, you would have made money on a well executed trade.

2. Ninja has a standard indicator called "Bar Timer". It will count down how many seconds are left in your bar. I use it extensively.

3. I think you are doing well on your price action reading. I would suggest you be somewhat more aggressive. I don't like the 4 range but can see your logic in using it so since it seems to be working for you, keep using it to time entries. I just noticed several times on the video you seemed to have the PA right but really hesitated to take action. On the 4 range, you can afford to be aggressive and at the same time, be stingy with the stops.....just be stingy AFTER price has gone in your favor.

Enjoyed the video though. well done. I learned some stuff today watching your video.

thanks pandawarrior!

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  #185 (permalink)
 bobarian 
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12/16/2011
5 trades
-$130 net
ok, today was good(really?) yes..
First of all,after this week, i have decided next week, to focus more on the 1 min.That is a big step for me, because ive been using the 4 rng for a year and a half.Today was about formulating my method, agian, so that it fits me.We all i know i have a hangup with big stops..so these are the beginning of the rules, based on 1 min ch

1st.look for retracement entries off the 21 ma.(w/trennd)
-we still are evaluating, when pa overshoots the 21, if we should still consider the 21 retrace, or wait for a possible 89..this is important
2nd. this is big..due to my issue with big stops, when i do get an entry that has run away abit, i can simply place my limit order within 8-10 ticks of the correct stop.this is really big, because , it will take any hesitation away.And besides, im willing to bet, that more so than not, i will be filled.If we get a huge candle, well, i probably would pass anyway.
Having the 2 charts up, for the past 5 days, i think, has been distracting.Maybe , the 4 rng would be more useful after im in the trade, to follow with stops.Also, i will start evaluating wether shooting for 8 ticks, or 12 or 16.We all know, that 1 good runner can undo a few stops.
im workin on the video now
3rd-look for entries off of 89 ma.

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  #186 (permalink)
 bluemele 
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bobarian View Post
The videos are so helpful, hearing what im thinking at those times, obviously we would forget that on just a chart pic.Then, i analyze later, sometimes over and over.

Indeed! I listen to my vid's 1.5 years ago and I am cursing, yelling, upset, frustrated... Cracks me up...

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  #187 (permalink)
 bobarian 
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bluemele View Post
Indeed! I listen to my vid's 1.5 years ago and I am cursing, yelling, upset, frustrated... Cracks me up...

i cant wait to get to that point.Ive been simming since january, and i really would like to get to the next level.The videos , are funny, and sometimes a little painful.I think they will speed things up a bit.I know december can be a little funky, but, i intend to grind my way through it, and dial in these rules.They are coming slowly, but , thats fine.The one thing i need to iron out, is , when do i consider a 21 ma retracement no good, and choose to wait for a possible 89 retrace.Or, how close to the ma does the retrace need to go.These are grey areas.
I think, that i will use the same technique for the 89.If the candle closes on the wrong side of the ma, wait for the possible 89 retrace.We will see, though

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  #188 (permalink)
 PandaWarrior 
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bobarian View Post
i cant wait to get to that point.Ive been simming since january, and i really would like to get to the next level.The videos , are funny, and sometimes a little painful.I think they will speed things up a bit.I know december can be a little funky, but, i intend to grind my way through it, and dial in these rules.They are coming slowly, but , thats fine.The one thing i need to iron out, is , when do i consider a 21 ma retracement no good, and choose to wait for a possible 89 retrace.Or, how close to the ma does the retrace need to go.These are grey areas.
I think, that i will use the same technique for the 89.If the candle closes on the wrong side of the ma, wait for the possible 89 retrace.We will see, though

Some points based on the last couple of posts. I haven't watched the latest video but can tell from the last one I watched along with the chart you posted that I think I can speak to it.

1. Open your targets out to 16 ticks. On the one min, this seems to be the place where MOST of the one min legs pause. Of course they can and do run further but for this method, I think its appropriate to take off the trade here. Once price goes 10 ticks in your favor, go BE+1 and once price is +14, then go BE+10. Dont give back 80% of the trade if you don't get the last 1%. In other words, dont be a dick for a tick. The idea is to make money, not be right about exact targets. Ten ticks if it pops back is still $100 per contract. $1000 if you are trading 10 lots. Not to bad in my book.

2. Put your stops at the swings and then let the trade play out. Keeping in mind the stop rule I listed above.

3. If price closes above the 21, dont short again until it closes below with a LL/LH combination. Same with the 89. If price goes above, just wait for either longs to set up or for a new LL/LH BELOW the 89 to occur. In fact, I if there is a close above the 89, I wait for a close below the 21 to reshort. Its the most confirmation I will wait for.

4. Dont trade unless an MA has been touched. For me, I only short below a red candle and if I get a green candle AFTER a red one, I wait for a new red candle to short under. Opposite for longs. This is my "confirmation" signal. Just means I am selling weakness and buying strength.

5. Which pull backs to the 21 are valid? Is a question I think you asked. This is a perfect one to answer. For me, I think the first two should be taken. After that, I think its a crap shoot. Normally the 3rd or 4th ones can be FAR away from the 89 and any pull back can likely violate a swing. If the swing is violated, then just wait for new LL/LH to show up AFTER an MA touch......even then, you can watch a 5M chart and see that it is pulled far away from its 21MA and you KNOW it will pull back to it. When it does, that will most likely match the 89MA pull back on the one min chart. Take a look and see.......Its not perfect but its the best way I've seen so far to avoid what looks like a good trade that is in fact, a loser.

Keep up the videos. I don't have time to watch them all but I will watch them and I think I will learn from watching you trade.

Simplicity is the ultimate sophistication, Leonardo da Vinci


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  #189 (permalink)
 bobarian 
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Thanks Pandawarrior, this is really good stuff.Ilike the atm strategy also, sensible.Also, the specific points about the entries.The videos sre very useful, because they zoom in on the moment, which i cant possibly remember days later, or even hours later.In the past, when i would be in the process of creating my rules, it seemed like it never ended.Markets vary each day, and its a process that can take some time.With your help, and some others, the rules are coming together quickly.
Besides that, some of the things im working on, to correct weakness.Hesitation , is just a killer.However, im getting more dialed into the 1 min ch, and when it closes.It seems like on a good entry, sometimes the push on the closeof the candle.I noticed this on the 5 min , when i was trading equities.Is this my imagination?i dont believe it is.Nevertheless, i am really focussed just as that 1 min is about to close, if an entry is imminent.
just some thoughts!

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  #190 (permalink)
 bobarian 
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Was just reading zen and the art of poker again.The concepts, are so useful for trading.I have read other books for years, that talk about zen, enlightment, realization, etc.The lessons learned can be applied to trading, but they spill over into other aspects of life also.I find, that , the work i have put in in this area, has actually helped me with my family.How many of us, after having a crappy day trading, pick up our kids in a foul mood?Or, go into a 3 week funk , acting nasty to them because we are staring into the abyss, with no hope , and only anger being realized?Zen is a powerful concept, and a work in progress, that never ends.I try very hard to leave trading out of my mind, when im with my family.Its my choice to be stressed about it, and my choice to be frustrated, and such a waste of time because we need to hit the reset button for tomorrow.Basically, we devote absolute attention, while we trade, and review.After that, we focus in the moment , on our family , and our life.I try to remind myself each day, how lucky i am, to have a happy and healthy family.When those things are in jeopardy, how important is an early entry?or an unfortunate stop loss?

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