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bobs qwest to attain consistency
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bobs qwest to attain consistency

  #231 (permalink)
Market Wizard
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1/10/2012
tuesday
3 trades
+$5 net
ranges were smaller today, i dont feel i missed much, but my trade mgmt definately got me today.The 1st and 2nd trades both would have went past 16 ticks, without taking me out.In december, i made a decision, to just let the trade play out.I used a simple strategy:r:r of 1:2.So, an 8 tick sl for a 16 tick target.If price goes to ten, i go to +2, then as we get towards 16, i follow it close.Well, i got so many trades that went +9 or 10, only to give a +2.December is always a lower vol month, so, that shouldnt be a surprise.
Anyway, I will go back to that strategy starting tomorrow, and stick with it for a while

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1 10 2012.mp4 (19.58 MB, 10 views)

Last edited by bobarian; January 10th, 2012 at 01:49 PM.
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  #232 (permalink)
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bobarian View Post
Attachment 592811/10/2012
tuesday
3 trades
+$5 net
ranges were smaller today, i dont feel i missed much, but my trade mgmt definately got me today.The 1st and 2nd trades both would have went past 16 ticks, without taking me out.In december, i made a decision, to just let the trade play out.I used a simple strategy:r:r of 1:2.So, an 8 tick sl for a 16 tick target.If price goes to ten, i go to +2, then as we get towards 16, i follow it close.Well, i got so many trades that went +9 or 10, only to give a +2.December is always a lower vol month, so, that shouldnt be a surprise.
Anyway, I will go back to that strategy starting tomorrow, and stick with it for a while

I like your thinking on the stop and target. In fact, I follow a similar SL and Target, with a little difference. I use the 5 minute exclusively, and I have found, for me, the action of the lower time frame is filtered out...kinda like if I dont see it, it dosnt exist.

That way, I have time to move my stop above the BE+2 and capture 10 - 12 ticks when the trade moves as anticipated.

What are all the indicators on the 4 range? Is it similar to Perry"s Method?

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  #233 (permalink)
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VinceVirgil View Post
I like your thinking on the stop and target. In fact, I follow a similar SL and Target, with a little difference. I use the 5 minute exclusively, and I have found, for me, the action of the lower time frame is filtered out...kinda like if I dont see it, it dosnt exist.

That way, I have time to move my stop above the BE+2 and capture 10 - 12 ticks when the trade moves as anticipated.

What are all the indicators on the 4 range? Is it similar to Perry"s Method?

thanks Vance, that stop/target strategy, was actually recommended by Pandawarrior.I noticed your risk/reward was 1:2, and you use 8 tick stop losses.I think, if you are able to adhere to that strategy on a 5 min time frame, and it works, that is fantastic.In Dec, with the lower vol/volatility, i took alot of +2 and be, after watching a 9 or 10 tick move.At this point, im like, whatever.Im just gonna go back to the 16 tick goal....and youre right, alot of the candles on the 4 range can be noisy.The areas where im lookking for a trade are typically correct, so, it is a disservice to myself.Today, a perfect example:the first 2 trades would have went to 16 ticks, if i didnt cut them off.Now , i did have a legitamate reason for the 1st bailout(even though the market totally dumped when it got through the 89 on the 1 min.
In the end, i cant predict what the market will ultimately do....I can only try to get the best entry possible...As far as the trade mgmt?Well, ive proven that i should just leave it the way it was.

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  #234 (permalink)
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Sorry Vance, that 4 range is pretty much identical to perrys, on the august webinar, except instead of a 5 ma, its an 8 ma

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  #235 (permalink)
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bobarian View Post
thanks Vance, that stop/target strategy, was actually recommended by Pandawarrior.I noticed your risk/reward was 1:2, and you use 8 tick stop losses.I think, if you are able to adhere to that strategy on a 5 min time frame, and it works, that is fantastic.In Dec, with the lower vol/volatility, i took alot of +2 and be, after watching a 9 or 10 tick move.At this point, im like, whatever.Im just gonna go back to the 16 tick goal....and youre right, alot of the candles on the 4 range can be noisy.The areas where im lookking for a trade are typically correct, so, it is a disservice to myself.Today, a perfect example:the first 2 trades would have went to 16 ticks, if i didnt cut them off.Now , i did have a legitamate reason for the 1st bailout(even though the market totally dumped when it got through the 89 on the 1 min.
In the end, i cant predict what the market will ultimately do....I can only try to get the best entry possible...As far as the trade mgmt?Well, ive proven that i should just leave it the way it was.

I should add that i tried the 1 minute at one time, as I have a friend who was doing the Shadowtraders thing, and they exclusively use 1 minute for entires, and higher time frames for confirmation. They are big into 4 to 6 tick scalps and increasing volume. they use fractals and some propriatary software (that you sign up ) He has a problem with entries...he cannot pull the trigger on a trade because he cannot accept that he will be wrong, sometimes.

On the one minute, trying to tighten my stop with my mouse was giving me carpal tunnel syndrome, moving the mouse up and down up and down, trying to capture the majority of the move, as the one minute was giving me false signals using my strategy.

But thats the beauty of trading, one mans passion is another mans poison, and the strategy, and the instrument has to fit the trader's temperment.

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  #236 (permalink)
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VinceVirgil View Post
I should add that i tried the 1 minute at one time, as I have a friend who was doing the Shadowtraders thing, and they exclusively use 1 minute for entires, and higher time frames for confirmation. They are big into 4 to 6 tick scalps and increasing volume. they use fractals and some propriatary software (that you sign up ) He has a problem with entries...he cannot pull the trigger on a trade because he cannot accept that he will be wrong, sometimes.

On the one minute, trying to tighten my stop with my mouse was giving me carpal tunnel syndrome,

use track ball it can save your hand.

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  #237 (permalink)
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VinceVirgil View Post
I should add that i tried the 1 minute at one time, as I have a friend who was doing the Shadowtraders thing, and they exclusively use 1 minute for entires, and higher time frames for confirmation. They are big into 4 to 6 tick scalps and increasing volume. they use fractals and some propriatary software (that you sign up ) He has a problem with entries...he cannot pull the trigger on a trade because he cannot accept that he will be wrong, sometimes.

On the one minute, trying to tighten my stop with my mouse was giving me carpal tunnel syndrome, moving the mouse up and down up and down, trying to capture the majority of the move, as the one minute was giving me false signals using my strategy.

But thats the beauty of trading, one mans passion is another mans poison, and the strategy, and the instrument has to fit the trader's temperment.

Vance, i would be very careful adding things, especially since you have been doing well with your simple platform.I have used the 4 range for so long, and to be honest, for entries, it can be very useful...but...for manage ment, it can be very noisy.(you said it yourself).Just be greatful youre doing so well so fast!dont question it...just keep doing what you are doing, and dont get sidetracked

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  #238 (permalink)
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1 10 2012.mp41/11 2011
wed
5 trades
-$145 net
i was home this am, and didnt trade the signals that actually followed through.After 9 am, the cl just got fugly.I noted the trades on the video, and on the 1 min.The 1 min , is so choppy in that area, but, i was looking for trades.I want to be trading the cl in the 1st hour, when the liquidity is supposed to be there.Also, the march contract is pulling 25% of the vol away, and thats not helping.Im just trying to adhere to the strategy of looking for the swings on the 1 min, and being ready for an entry.One thing i learned today...If there is a trade that looks very good, we want to be aggressive.An ex of this is at 8:50.We didnt get a pb entry(on 4 rng), but price gave a nice pb into the allready setup desc mas(4 rng) the entry was just below that top candle.The 1 min was setup.This type of entry, is one that ive been lookin at since last week.The big thing with it tho, is keep it in context...dont trade all of em( just like anything else.#6 went +11 , and stopped me at +1..typical of today right?well , thats one way of lookin at it.The way i look at it, is, its just another trade....was it in line? yes.was it correct?yes.It all goes back to what i said this week.Until i get fully dialed in, and stop missing entries(like pre market today) and(the momentum short off the dow open)i will continue to struggle.FOCUS.SATORI!! DO OR DIE!I might believe im close, but im still red.Also, i will review the 1 min chart later, to see if i need to make an adjustment there(to avoid the chop)#7 was a good trade.If i get those entries im missing, im green ... so , i need to name the pb entry into the sloping mas....hmmm..well it is a pb, but a differnt kind...yankback? yb..thats bad...hmmm oops, i put up yest 1 min ch, ill fix later, gotta go...also, the video is at the top of this page
*******I just did my replay of today, just cherry picking the areas to work on.#6 was a yb entry, the red candle crossed back below the 21 ma.For the yb entry, my order would have been before the candle close, and 2 to 4 ticks better.Its a timing thing, because they jammed it and the end of the candle.The entry was there for a good yb, atleast if i was wrong, the sl was less.
**************** #7 is the 1st pb in the resuming downtrend.Atleast try for 16, maybe lod.I was lookin for shorts all day, and we finally got some.

Attached Thumbnails
bobs qwest to attain consistency-cl-02-12-1-min-1_10_20121.jpg  

Last edited by bobarian; January 11th, 2012 at 10:28 PM.
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  #239 (permalink)
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bobarian View Post
Vance, i would be very careful adding things, especially since you have been doing well with your simple platform.I have used the 4 range for so long, and to be honest, for entries, it can be very useful...but...for manage ment, it can be very noisy.(you said it yourself).Just be greatful youre doing so well so fast!dont question it...just keep doing what you are doing, and dont get sidetracked

Nope...not adding a thing at the moment. I am attempting to refine what I am doing now. In fact, trying to develop a method to better protect my capital, and reviewing my statistics with the aid of my journal to see if I have a bias long or short, and to determine if it influences my desicion making to too high a degree.

Its an evolutionary process rather than revolutionary.

I am just trying to go with the flow. The Shadowtraders program looked interesting, but it didnt make sense to me. Too much black box, for my liking. but, there are many successful shadow traders, as their website discusses.

I think the mental side of trading is like putting is to a golf score...contributes way more to success than anything else. It should be the best part of everyones game , so why does the average golfer spebnd so little time putting. Pros spend way over half their time on the short game, cause thats the fastest way to better scores.

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  #240 (permalink)
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VinceVirgil View Post
Nope...not adding a thing at the moment. I am attempting to refine what I am doing now. In fact, trying to develop a method to better protect my capital, and reviewing my statistics with the aid of my journal to see if I have a bias long or short, and to determine if it influences my desicion making to too high a degree.

Its an evolutionary process rather than revolutionary.

I am just trying to go with the flow. The Shadowtraders program looked interesting, but it didnt make sense to me. Too much black box, for my liking. but, there are many successful shadow traders, as their website discusses.

I think the mental side of trading is like putting is to a golf score...contributes way more to success than anything else. It should be the best part of everyones game , so why does the average golfer spebnd so little time putting. Pros spend way over half their time on the short game, cause thats the fastest way to better scores.

very good points.Now that you have a good feel for where the entries should be, it sounds like youre trying to dial it in.Ive been trying to dial it in for a long time, but the main difference now, is im confident about when to take my entries.The problem that alot of Perrys followers are having(imo), is they take alot of signals out of context with the trend.Plain and simple.It works for Perry, but lets face it, over 90% of traders fail(is what im told)and just because people want to try to follow a method that works for someone else, doesnt change that.I know you listened to Al Brooks webinar.I liked it also.Sometimes, ill watch and learn something from a webinar, and then 2 weeks later, after trying to use some of the lessons ive learned, ill watch it again.I tend to learn better that way, because i now have some training under my belt with what the individual was saying.When i watch the webinar again(and again), therer are usually revolations (and realizations)that i wouldnt have had if i didnt take the time to watch again, but most importantly, take the time on my platform in real time by myself.I did this with Pandas method, and a few things really started to make sense.

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Last edited by bobarian; January 11th, 2012 at 02:21 PM.
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