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bobs qwest to attain consistency

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  #361 (permalink)
 bobarian 
whitestone, new york
 
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2/27/2012
monday
3 trades
-19 ticks net.
I went into today, with one main goal...execute.Without hesitation.If we are ever going to get to live trading, we have to start having the correct mindset.The 3 weeks with the 5min have given me enough info to go with the 2 trades i have for now.I want to forget about the individual trades, and the individual days/weeks...and focus on the month end.Just execute, and let it go.Have the courage to work this method and ultimately decide if is good enough for me.We wont win everyday, and thats ok..just execute

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  #362 (permalink)
 bobarian 
whitestone, new york
 
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just watched the video...The 2 failed trades i dont have a problem with.In review , the 2 trades at the 21 on the cash chart were takable, i had to leave for the 2nd.We also had a stepup, A entry around 11:10.Too bad i had to leave.I think the market was giving that ascending trendline on the loc.I tried, but the candles werent good enough for them

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  #363 (permalink)
 bobarian 
whitestone, new york
 
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2/28/2012
tuesday
6 trades
-8 ticks net
A rough day fer sure, felt lucky with a small loss.The 21 entries were getting mowed through today.I marked out all my trades on the 24 hour and cash chart, as the conflict between the emas on the 2 charts were apparent.I expected this, so, we proceed.The A entries off the cash ch that are takable (on either ch)were good, if i got filled.i I just did the replay, out of the 3 A entries, none of them retraced to my order...oh well..Also, for the A entries, i think the 16 tick target ids ok

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  #364 (permalink)
 bobarian 
whitestone, new york
 
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iput up a cash hours chart, and there is a nice desc Tl on the 5 min, it got tagged a few times today...ultimately, the last time led to the selloff , that overshot the bottom desc TL, 200 ticks below.Tomorrow, i will have the cash chart 5min, and show the prev days data, fors/r.Wouldnt be surprised to see a consolidation day,after todays selloff.My longer range 5 min goes back 100 days(cash market only), and i will consult this for TLs,and s/r.4 times that top TL was hit todayalmost to the tick each time...oy..I talk about where buyers/sellers are likely to come in...open your eyes..Now this doesnt mean the only trades are at these TLS, because they dont hit extremes every day.I think about all the different charts ive been through, and all the hours it takes to decide what is usable, and what isnt.Is the 5 min the correct chart? i think so.Ultimately, even if we have the correct chart, we also need to use it correctly.This month hasnt been horrendous.A small drawdown.Some decent trades , a few mistakes,and more work ahead.

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 bobarian 
whitestone, new york
 
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2/29/2012
wed
2 trades
-$5 net
This was the first day with the cash only chart up on the cl.I thought it was a decent day.There were some good a and b trades.I took 2 trades, mismanaged the first one, hence the be for the day.Short day..bernanke at 10..oil report 10:30.

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  #366 (permalink)
 acbrasil 
somewhere, brazil
 
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bobarian View Post
REASONS TO TAKE A BREAK.....................I remember last month, i was stressed out, and we headed out on a 4 day weekend.A lousy week, and alot of pondering, and i was just spent.I remember thinking that night, that it had been a long time since i had felt this way, about trading.Iwas just starting to listen to the al brooks stuff i think, and applying his ideas, out of context.So, i was getting beat on a bit.So, im on the couch, thinking, wtf??I hate being in that mental place.I remember it well, from the past.That empty feeling, like, is this a waste of time?Just a silly obsession that will never amount to anything?I dont talk to family or friends about it, because they dont get it(at all).To them, to imagine simming for over a year would probably seem like a tremendous waste of time.The 2nd day into the weekend, i started to forget about it a bit.By the 4th day, it was past me, and i was ready to get back to work Monday..............I spend alot of energy, trying to be positive, and it is always a work in progress.My 3 year old twin boys require my full attention when they get home, and that is what they get.I decided a while ago, that i wont let trading interfere with my home life, especially with my kids.We spend so much time making rules regarding certain aspects of trading, and i made a rule, to not let it affect my time with the kids.I remember, i used to bring charts to the playground, to glance at...oy.I realized, that, to remain positive, we need breaks.Devoting our focus to things other than trading.Going to the gym really helps for me also.It is my choice to be frustrated, or not..............Learning how to trade CORRECTLY, imo, requires a leap of awareness that most people are not cut out for.We have to dig down deep, and really work on our weaknesses, and develop the discipline necessary to control ourselves.......IMO, learning how to trade correctly requires alot of hard work, alot of experience....And there are no skipping steps.And, there are plenty of people that are willing to do the work...that still fail.It has been a journey no doubt.I still have doubts, but the only thing to do is show up Monday, and try to understand what the market is giving, and do well.These days, its more about price action, and really trying to focus on what the market is saying...The cl can be tricky, and its my job, to figure out the puzzle.Every day, 4-6 hours , trying to put together the recaps and replays, so i can do this in real time....a slow grind for sure, each day, seems to be getting better...but slow.Ive got 3 weeks with the 5 minute, and 21 ema.I like them, and have no desire to change.....To sum it up, with a simple thought...Learning how to trade is difficult, and a huge amount of work...getting stressed out, and frustrated is not productive..take breaks......................is it possible that the answers are right in front of me, but my eyes just dont see them yet?

Relax. Why not trade with mini-lots or micro lots in forex? That way, it's REAL not sim, but the dollar value is so low that if you lose, you will lose pennies and not mega bucks. There are soooo many profitable strategies out there that are freely available on the internet.

Bob, I noticed that you were using a system in the beginning that works pretty well for me. Why did you change? I would also recommend Rob Bookers rules on trading. If you are stressed for whatever reason, don't trade.

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  #367 (permalink)
 bobarian 
whitestone, new york
 
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acbrasil View Post
Relax. Why not trade with mini-lots or micro lots in forex? That way, it's REAL not sim, but the dollar value is so low that if you lose, you will lose pennies and not mega bucks. There are soooo many profitable strategies out there that are freely available on the internet.

Bob, I noticed that you were using a system in the beginning that works pretty well for me. Why did you change? I would also recommend Rob Bookers rules on trading. If you are stressed for whatever reason, don't trade.

Thanks acbrasil, im not aware of micro lots for the cl.I switched over to the 5 min 4 weeks ago, and i believe it is the chart to use.My results have been hovering just under breakeven.These days, i have been putting in more hours, doing recaps and replay, and am literally in the process of changing my perception on what a correct trade is.Also, i am looking to hold longer, thus, letting the winners go.Its easy to see the trades in recap....
Price action has ultimately been the main focus, and i believe this is correct.If you look at my journal in the beginning, its a cluster frick of differnt charts,indicators,etc.It took a while to ultimately abandon the quest for the holy grail.It also took a while to leave the 4 range.
i try to stay on point in my journal these days...i get tired of my own rants.My frustations are probably similar to most.But , they are really irrelevant. The market loves that...
Lately, my main focus has been to just keep at it.Every day i do a recap, a replay,over and over.A pilot simulates for thousands of hours to ultimately be prepared for all scenarios, and have it be second nature.What i have noticed, lately, is i am seeing the pa more clearly.Even when i miss a trade, i relize it quickly.This, in itself is an improvement.A few short months ago, i was lagging far behind in this area.Now, i feel as though im much closer.Ultimately, we need to see this in real time, and that is why i do the recaps and replays much more.
thanks again

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  #368 (permalink)
 bluemele 
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They don't move like CL, but some FOREX do follow oil VERY CLOSELY.

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 acbrasil 
somewhere, brazil
 
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It depends. If you don't live in the US, you can have brokerage accounts where you can trade almost everything under the sun: Gold, Oil, forex, all in the same account. I'm just not sure if you can do fractional on gold and oil though. For me at least, I like it a lot because I don't feel too much pressure when I hold the position overnight. I just closed out a fractional trade 3 mini lots with a gain of 94 pips (short EURUSD). Right now the EURUSD is sitting right above the GAP left from about a month ago. I'm sure it will get filled, but I wanted to take my gain and run.

@Bob - Don't beat yourself up about taking profit. At least what I did was look at the instrument -> time frame -> average "range" of a move. If I get the "average", then I'm happy. The best trades I've had with a short timeframe were 18-20 pips. (I speak FOREX. I think for futures, it's a "tick"). Typically, I, and thousands of people on the internet who have commented, average around 10 pips on a decent move on a 1 minute timeframe on the main currency pairs. And I don't get mad if I get 10 pips and then I get scared out and the move continues for another 20-30 pips. There're tons of opportunities every week.

Last but not least, the only time I will LOSE money is when I read other peoples' HOW TO books or websites. It confuses me. If you stare at the charts for long enough without trading, just watching, you will notice patterns and create your own names for them. So if someone posted here "Here's my system that made me 3 million in one month!", I would deliberately STAY AWAY from the post and never read it because it would just end up confusing me.

Good luck Bob!

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  #370 (permalink)
 bobarian 
whitestone, new york
 
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3/5/2012
monday
1 trade
+17
An inside day relative to Friday, closing with a wedge in the pm .Upon 10 am news, price popped , overshooting the vwap, got in short.Initial target was the 21 ma, which i took.I really thought we had alot more in this short, maybe the 2nd vwap extension.It almost reached the 3rd.Price bottomed at 1:30, near the 2nd vwap extension.Watching the vol ladder, i didnt take an entry

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