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bobs qwest to attain consistency
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bobs qwest to attain consistency

  #401 (permalink)
Market Wizard
whitestone, new york
 
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4/5 2012
3 trades
full stop day
tried to trade with my 3 yr old twins home....I saw the massive absorption at the 102.70s area, and i just basically ignored the fact that we should go higher.
Ive been using the vol ladder, and , i am having problems trying to get a consistent edge with it.It just seems that the cl has a very short memory.One bar will have an overwhelming buy bias, and turn right around after 10 ticks.
I must be honest, sometimes, i think i should just go back to the method where i wait for pa to cross my 8 ema, and take the 1st pb entry to the correctly sloping ema.(not if it runs away too much.
So, the confusion continues....

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  #402 (permalink)
Market Wizard
whitestone, new york
 
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journal

ok, so, i have been very inconsistent with my journal for a while.I was honestly thinking of closing the journal or taking a break from it.Why?
1.i have made so many changes lately, that im embarassed to admit it with a chart.
2.My frustration has been going up, and i dont like to post negative thoughts.It gets old.
So, upon running this by Big Mike, i have decided to stay with it....What does this mean?
1.stop changing charts/indicators
2.Atleast put up a chart every day with entries /exits.
This week, i will be very busy with my sons, as they are home from school.I will try to get on to work, but its not likely.This might be a good thing.
Also, for some reason , my browser prevents me from doing any paragraphs or spacing...as soon as i submt the reply, it all gets bunched together...

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  #403 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NT
Broker/Data: TD Ameritrade, Dorman/Zenfire
Favorite Futures: CL,ES
 
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bobarian View Post

So, upon running this by Big Mike, i have decided to stay with it....What does this mean?
1.stop changing charts/indicators
2.Atleast put up a chart every day with entries /exits.

Also, for some reason , my browser prevents me from doing any paragraphs or spacing...as soon as i submt the reply, it all gets bunched together...

Glad to hear that you have decided to stick with it. You have put in far too much time and effort to do otherwise.

Look forward to seeing what you have been up to.

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  #404 (permalink)
Market Wizard
whitestone, new york
 
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VinceVirgil View Post
Glad to hear that you have decided to stick with it. You have put in far too much time and effort to do otherwise.

Look forward to seeing what you have been up to.

Thanks Vance

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  #405 (permalink)
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In the heat
 
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bobarian View Post
ok, so, i have been very inconsistent with my journal for a while.I was honestly thinking of closing the journal or taking a break from it.Why?
1.i have made so many changes lately, that im embarassed to admit it with a chart.
2.My frustration has been going up, and i dont like to post negative thoughts.It gets old.
So, upon running this by Big Mike, i have decided to stay with it....What does this mean?
1.stop changing charts/indicators
2.Atleast put up a chart every day with entries /exits.
This week, i will be very busy with my sons, as they are home from school.I will try to get on to work, but its not likely.This might be a good thing.
Also, for some reason , my browser prevents me from doing any paragraphs or spacing...as soon as i submt the reply, it all gets bunched together...

One thing I learned from reading my own journal was how many times I changed my chart even when I said I wasn't or at least thought I wasn't. Even now I battle with changing stuff on the chart. Some stuff might be ok, something to enhance your understanding of a trend perhaps but changing the fundamental chart or bar style constantly will lead you to the poorhouse.

Second thing I learned was that almost all of the methods I tried out worked to some degree. Its just a matter of sticking with it long enough for the law of large numbers to work in your favor.

Third thing I learned was the more charts I had up the more confused I got. I experience that even now. Everything looks good on some chart somewhere....Find the time frame/chart style that most speaks to you and become well acquainted with it. Marry it if you will...a lifetime commitment...

The next thing I am currently learning is this....the entries are almost a no brainer. There are hundreds of ways to determine entries, its the exits that make or break you...especially if you are trading one lot or scalping.

Once you settle on a chart style, you can enhance your trading performance by not staring at it all day long once trading is over. In other words, once you are done, write up your journal, do your spreadsheets if you have one, mark your levels if you do that and then walk away until tomorrow. If you know your set ups, quit trying to second guess everything you did that day. You won or lost. Thats it. Clock out and go home....figuratively speaking of course.

You've come a long way in a short time. Consolidate your gains, internalize your knowledge and set ups and move on.

Hope this helps a bit....every time I write something like this, I realize I am preaching to myself more than anyone else....I feel like a hypocrite every time I offer advice because I understand how fragile my understanding and application of every thing I just wrote really is...

Good luck tomorrow.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #406 (permalink)
Market Wizard
whitestone, new york
 
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PandaWarrior View Post
One thing I learned from reading my own journal was how many times I changed my chart even when I said I wasn't or at least thought I wasn't. Even now I battle with changing stuff on the chart. Some stuff might be ok, something to enhance your understanding of a trend perhaps but changing the fundamental chart or bar style constantly will lead you to the poorhouse.

Second thing I learned was that almost all of the methods I tried out worked to some degree. Its just a matter of sticking with it long enough for the law of large numbers to work in your favor.

Third thing I learned was the more charts I had up the more confused I got. I experience that even now. Everything looks good on some chart somewhere....Find the time frame/chart style that most speaks to you and become well acquainted with it. Marry it if you will...a lifetime commitment...

The next thing I am currently learning is this....the entries are almost a no brainer. There are hundreds of ways to determine entries, its the exits that make or break you...especially if you are trading one lot or scalping.

Once you settle on a chart style, you can enhance your trading performance by not staring at it all day long once trading is over. In other words, once you are done, write up your journal, do your spreadsheets if you have one, mark your levels if you do that and then walk away until tomorrow. If you know your set ups, quit trying to second guess everything you did that day. You won or lost. Thats it. Clock out and go home....figuratively speaking of course.

You've come a long way in a short time. Consolidate your gains, internalize your knowledge and set ups and move on.

Hope this helps a bit....every time I write something like this, I realize I am preaching to myself more than anyone else....I feel like a hypocrite every time I offer advice because I understand how fragile my understanding and application of every thing I just wrote really is...

Good luck tomorrow.

Thanks PW, i see your work every day, so i know what you are talking about.Its like , one day, pullbacks to the ma are perfect. The next, they all fail.Its tempting to always look at what others are doing, while they succeed, and i struggle....and seemingly miss good trades.One day breakouts are great, the next, they fail...You know the storyIts all very tricky.Bringing in more tools, can have the opposite effect also.Simple is best..thats what the winners say...good luck tomorrow

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  #407 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NT
Broker/Data: TD Ameritrade, Dorman/Zenfire
Favorite Futures: CL,ES
 
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Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,180 received


PandaWarrior View Post
One thing I learned from reading my own journal was how many times I changed my chart even when I said I wasn't or at least thought I wasn't. Even now I battle with changing stuff on the chart. Some stuff might be ok, something to enhance your understanding of a trend perhaps but changing the fundamental chart or bar style constantly will lead you to the poorhouse.

Second thing I learned was that almost all of the methods I tried out worked to some degree. Its just a matter of sticking with it long enough for the law of large numbers to work in your favor.

Third thing I learned was the more charts I had up the more confused I got. I experience that even now. Everything looks good on some chart somewhere....Find the time frame/chart style that most speaks to you and become well acquainted with it. Marry it if you will...a lifetime commitment...

The next thing I am currently learning is this....the entries are almost a no brainer. There are hundreds of ways to determine entries, its the exits that make or break you...especially if you are trading one lot or scalping.

Once you settle on a chart style, you can enhance your trading performance by not staring at it all day long once trading is over. In other words, once you are done, write up your journal, do your spreadsheets if you have one, mark your levels if you do that and then walk away until tomorrow. If you know your set ups, quit trying to second guess everything you did that day. You won or lost. Thats it. Clock out and go home....figuratively speaking of course.

You've come a long way in a short time. Consolidate your gains, internalize your knowledge and set ups and move on.

Hope this helps a bit....every time I write something like this, I realize I am preaching to myself more than anyone else....I feel like a hypocrite every time I offer advice because I understand how fragile my understanding and application of every thing I just wrote really is...

Good luck tomorrow.

Very well said, PW. Particularily about clocking out, taking a break when the day is done. Its very good to want to gain knowledge, but for me, I find that my biggest gains in understanding happen when I am away from the monitor.

I would also add that it is the risk and money management part of the successful trading equation is equally important. Taking an overall view of the endeavour, and not focusing on each individual trade as an all or nothing proposition. That wider view helped me to relieve a significant amount of anxiety, as it allowed me to focus on the big picture (overall success) as oppossed to a shortsighted one. (individual trade or single day success)

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  #408 (permalink)
Market Wizard
whitestone, new york
 
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Platform: ninja trader
 
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VinceVirgil View Post
Very well said, PW. Particularily about clocking out, taking a break when the day is done. Its very good to want to gain knowledge, but for me, I find that my biggest gains in understanding happen when I am away from the monitor.

I would also add that it is the risk and money management part of the successful trading equation is equally important. Taking an overall view of the endeavour, and not focusing on each individual trade as an all or nothing proposition. That wider view helped me to relieve a significant amount of anxiety, as it allowed me to focus on the big picture (overall success) as oppossed to a shortsighted one. (individual trade or single day success)

thanks guys, i agree.Its all part of my slow as molasses growing pains...i go in spurts....alot of hours for a stretch, start to burn, and then take it slower for a bit.The goal, is ,with each time, i get a little closer.

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  #409 (permalink)
Elite Member
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bobarian View Post
ok, so, i have been very inconsistent with my journal for a while.I was honestly thinking of closing the journal or taking a break from it.Why?
1.i have made so many changes lately, that im embarassed to admit it with a chart.
2.My frustration has been going up, and i dont like to post negative thoughts.It gets old.
So, upon running this by Big Mike, i have decided to stay with it....What does this mean?
1.stop changing charts/indicators
2.Atleast put up a chart every day with entries /exits.
This week, i will be very busy with my sons, as they are home from school.I will try to get on to work, but its not likely.This might be a good thing.
Also, for some reason , my browser prevents me from doing any paragraphs or spacing...as soon as i submt the reply, it all gets bunched together...

Don't sweat it Bob. Sometimes, change is good. Change can bring change in your results provided what you're changing to makes more sense. An example would be adjusting your primary trading screen to a larger interval to view the bigger picture and boil down the small noise smaller chart intervals often display. Another good example would be changing from a tick chart to a 5 minute or a range/renko chart that also boils down the noise often seen in tick charts. Bad change would be adding a bunch of silly indicators under your charts, etc. but I'm sure you're well aware of that.

Change can mean growing as well. As you progress as a trader, your knowledge grows. Your self-worth as a trader grows as you become more affluent in what you're doing. If at all possible, always try to remain positive. On days where you get beat up, treat is as an excellent learning experience. Pain can strike fear into us or it can help us learn what not to do going forward if handled positively.

Best of luck!

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  #410 (permalink)
Market Wizard
whitestone, new york
 
Futures Experience: Intermediate
Platform: ninja trader
 
bobarian's Avatar
 
Posts: 1,526 since Oct 2010
Thanks: 3,383 given, 2,057 received
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Private Banker View Post
Don't sweat it Bob. Sometimes, change is good. Change can bring change in your results provided what you're changing to makes more sense. An example would be adjusting your primary trading screen to a larger interval to view the bigger picture and boil down the small noise smaller chart intervals often display. Another good example would be changing from a tick chart to a 5 minute or a range/renko chart that also boils down the noise often seen in tick charts. Bad change would be adding a bunch of silly indicators under your charts, etc. but I'm sure you're well aware of that.

Change can mean growing as well. As you progress as a trader, your knowledge grows. Your self-worth as a trader grows as you become more affluent in what you're doing. If at all possible, always try to remain positive. On days where you get beat up, treat is as an excellent learning experience. Pain can strike fear into us or it can help us learn what not to do going forward if handled positively.

Best of luck!

Thanks Ben, im sure in good company!I appreciate all the comments , and the the quest shall continue.

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