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bobs qwest to attain consistency


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bobs qwest to attain consistency

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  #391 (permalink)
 bobarian 
whitestone, new york
 
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3/28/2012
wed
2 trades
-1 tick net...oy vay.I changed gears today, and was looking at entries differently.In a nutshell, ive taken in quite a bit of info in the past 6 weeks, and am processing it all.I seem to keep coming back to the 5 min, and i believe thats good.Regardless of what quicker chart i use, the 5 min seems to really be the key.I dont know why, but it doesnt matter.

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  #392 (permalink)
 Big Mike 
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Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

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  #393 (permalink)
 bobarian 
whitestone, new york
 
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Big Mike View Post
Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

thanks Mike.The journal is very important , in that it helps with accountability.If we take the time to reviw our journal(i dont enough)we realize that the tiny steps of progress are slow in coming.So slow, that sometimes i wonder if im progressing.It enables us to see that continuosly changing things is counterproductive.However, as we realize who we are , and what type of trader we want to be, change ARE necessary..................Isee other new journals, and it brings to light the various stages we all go through, on the path.Lately , i havent kept up on my journal as much, and there has been alot of change.I often make important decisions when im away from the screens.Ultimately, we all have decide how we want to do this.I find, that, i go in spurts.I find success with a certain setup, only to realize its limitations a week later(or sooner).Its not about the indicators or the chart type.At this point, i wish i never got into indicators.Just look at my journal in the beginning...so many indicators.I realize that plenty of traders get comfortable with a certain chart/indicator.That is why this is an individual sport.What i see usually is different from what others see.............................I very much recommend others start a journal.Many highs and lows for sure, but all part of the journey................ok, so , the reason i have been doing less on the journal, is because i have made so many changes lately, its all over the place.The warning bells are goin off, and i know enough to know, that changing all the time is ng...............However, the addition of the vol ladder, about a month ago, is the key here.I look at a 5min, 1min,4 range, 8 range..with various indicators and i see the same thing....confusion and bad entries.Ultimately, for the type of trader i want to be, all i need is the vol ladder.(and the prev days vol pivots of course)Why? because this tells me where business is being done.Not a pb to the ma, or a ma breakout.Now, those can be useful, but vol is necessary for them to work, and for that matter, any entry.The 5min and other charts are for reference.The entries off the vol ladder carry much less risk...and that is what i want.The kind of entries where i say"if im wrong ,so be it" A big reason why it makes sense to me, is, it is much easier to see action on the vol ladder, as opposed to how the 5 min bar paints.My focus just isnt tuned into the 5 min like that.With vol, its right there to see and not difficult to follow.............Is this the magic ive been lookin for?probably not.Trading isnt magic..its hard work(atleast for me)Also, i read a fellow jornalist, and in his opinion , a reason he was not successful for a while, is, he was lookin at too much.This i can identify as one of my problems.So, its one or the other.I pick the vol ladder as my entry tool, and the other charts are for reference.I find that, when i direct my(limited)focus on this, there is clarity.....................I dont like to write negatively in my journal, because its not productive for me or anyone else.Thats another reason i have been quiet

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  #394 (permalink)
 Hapster 
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@bobarian:

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  #395 (permalink)
 VinceVirgil 
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This isnt helpful, and it isnt funny.

Perhaps you should leave the trading to ones that are making an honest effort to educate themselves and help others by sharing their personal experiences.

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  #396 (permalink)
 bobarian 
whitestone, new york
 
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4/2/2012
started trading the qm as my instrument, while watching the cl for the signal.Fills can be questionable, but no problems yet.Cl can have nasty slippage.
I will be trading 2 contracts, 1 off at 4,2nd off at 8.This give $150 for the full goal.The idea, is to grow the acct(sim)and then go to 3 contracts.This is a conservative strategy.It would be nice to have a runner.
Ended up today +$85 net, on like 5 trades.I tick on the qm is 2.5 on the cl.Vol is very low, so i will watch that.Have a great day !

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  #397 (permalink)
 bobarian 
whitestone, new york
 
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Big Mike View Post
Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

ive decided to redo this, as my first attempt was just too half arsed, as i was tired(and probably frustrated).Also, i owe it to myself, and this forum...to do a better job of it.
1)I wouldnt say 5, but, i guess when i look back, i realize all the changes(so many).I see the mistakes i used to make all the time.I must say, i dont make those too often now.
another big benefit, i think, is i have finally let go of the quest for the holy grail using indicators.Thats probably the most important benefit actually.If i look back, ive used some crazy stuff!
2)Again, probably not 5, but here it goes.I simply get tired of hearing myself talk....Ive done pics, videos, you name it.Its about execution,which includes entries AND exits.
Some of the other traders who have transitioned over, talk about their journeys.They all admit, its very hard journey.Alot of self analyzation.I have to say, i am constantly working on my atitude.Trying to stay positive requires alot of work for me....And that is a big reason why my posting has slackened so much(for a while).
I have twin 3 year old boys, and they require my full attention when im with them and my family.So,i have time constraints also.
So, in a nutshell, sometimes i dont take the time to post like i used to...maybe just a phase im in
3)i wasnt reluctant
4)my journaling experience has been very helpful.I realize that by looking at the progress from the beginning.I will say, that it has been very slow progress.Changing old habits are difficult for me.Im conservative by nature.
Also, i was a countertrend trader for a long time.I finally got away from that.
5)i absolutely recommend for others to journal.Be accountable for your trading, to yourself.
With all that said, i would say the progress i have made, is really from the research and work ive done through this forum.Its kinda like panning for gold.There is a huge amount of info here.Its up to us to discover what works for us as an individual...and just keep working at it...

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  #398 (permalink)
 bobarian 
whitestone, new york
 
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4/3/2012 1 trade
-$110
today startedgap down 42 ticks.After yest, no surprise that today was slower.Also, Fomc today.We started by forming a support at the 104.80 area , which was yest hval area.Pa shot up to 105 area, and got absorbed.I was thinking we would fill the gap, but the vol action on the pbs to the 104.80 area wasnt great.Maybe this was the clue, as we did get decent absorption at 105 area.In retrospect,that was the short...but, with that 104.80 bounce area, i was not decisive about it.It finally broke down, and i was scratching my head...Why 105 area for resistance?not sure..whole number? Doesnt matter.
I did take a long in 104.60 area, as there was decent churn there, there was a decent amount of vol there from yest.The entry was too early..anxious..and failed.
Ultimately, i thought, we would continue down to the 104 area , vpoc from yest.We hit 104.13, but the vol action again wasnt decisive enough for me, and i thought we would fall again, maybe overshooting 104.This didnt happen either.
Had i taken the short in 105 area, i would have let the 2nd contract run.The entry i did take, the 2nd contract would be the standard 8 tick goal(about 20 ticks on cl)
wow , pa just shot up to 105.18, and the absorption was definately there.I need to go, so wasnt really on it.I have to renew my drivers license....joy

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  #399 (permalink)
 bobarian 
whitestone, new york
 
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here are the two pics of churn at important levels.One is at the hval of yest, and the other is at the vpoc from yest.I try to wait for the cot to be highly red for a short, atleast over 100.Also, the bottom is the sum of the vol in the stack...i would like for that to similar to the cot...so red and red or green and green.Sometimes , this doesnt happen.Look at the long entry opportunity just above the 104.13 area.Massive volume, but overall red.Ultimately, the trade worked great.This is just me, fumbling my way through how to correctly use the vol ladder.These are the type of entries, where the 2nd contract is left to run.Even on an inside day like today, these were oppportunities.

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  #400 (permalink)
 bobarian 
whitestone, new york
 
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Posts: 1,995 since Oct 2010
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4/4/2012
2 trades
+$205 net
finally had a decent runner.I did cut this off early tho, so i need to check myself.Pa finally broke below 102.It would be nice, to have that 3rd contract...need to earn that...and not get ahead of myself here.
the 1st trade, i held my ground, got stoppped on 2nd contract
2nd trade finally broke below 102, which could get ugly(or not)
there it is , almost 7 points had i had a 3rd contract

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