I like a hard copy in my hand.i take a printout of trades which have something to teach me.x marking entry and dot marking exit with a few notes scribbled on.
I like a hard copy in my hand.i take a printout of trades which have something to teach me.x marking entry and dot marking exit with a few notes scribbled on.
an aspect that needs more consideration and can have me chasing my own tail.
TIME FRAMES
do you use one time frame or multiple ones.
appears to me multiple time frames add to the confusion.5min might say short,10min long,15min long,1hr short........daily long(you can have any combination here and each with different risk and generally bigger the TF bigger the risk and longer to have to wait for setups and then play out)
so this week i think i'll just religiously stick to the 5min,enter and exit according to signals on just it.
TIME FRAMES
do you use one time frame or multiple ones.
appears to me multiple time frames add to the confusion.5min might say short,10min long,15min long,1hr short........daily long(you can have any combination here and each with different risk and generally bigger the TF bigger the risk and longer to have to wait for setups and then play out)
so this week i think i'll just religiously stick to the 5min,enter and exit according to signals on just it.
darktone
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The idea of looking at the trades over time is we can have some idea of how you trade, when n where youre getting in and out and what prices were available during that time. From the tone of some of your posts it seems theres a lot of psych going on. If i see that reflected in the trades ive something you might like to try.
You can use any tool on your charts that can communicate the info and just take a screenie rather than messing around in MSpaint.
Info:
is the trade long or short
when and price you got in
when and price you got out
darktone
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Time frames dont really matter, prices really do. imho
yes a lot of psych going on and then some stupidity to add too.
prices matter but then so has to a time frame too.
your particular time frame that you have chosen to execute on.i dont think you can take an entry on a 5min and then decide to exit on some other.on the odd occasion it may work but in the long run i think it would serve to enter and exit on signals on one time frame.
todays debacle
i started out with a calm and rational mind.Took a set up within the strategy,added still within the strategy risking a total of 15 points........and then did not accept it and once again tried to trade myself out of it.
the trades were long ftse(on 5minTF) at 13.01 7037.2 and at 13.10 7032.9 closing both 14.59 7015.2 net -40
2hrs, but felt a lot longer.had i stuck to plan,would have been out for -14 in about 15mins.instead continued in my old reckless fashion.abit of consolation was i got out just before it plunged,would have cost me another 70 points.
heres my tabulation of what the other time frames were saying
1st trade 1min long 2point risk 2nd trade short 5 point risk
2min long 5 " short 6
3min long 6 " short 6
5 long 10 long 5
10 long 16 long 11
15 long 19 long 13
30 short 8 short 13
60 short 26 short 31
i came in with thoughts to write all sorts but the only thing wrong i did was to not accept that damn stop and losing an extra 25.
fk it.until tomorrow
i started out with a calm and rational mind.Took a set up within the strategy,added still within the strategy risking a total of 15 points........and then did not accept it and once again tried to trade myself out of it.
the trades were long ftse(on 5minTF) at 13.01 7037.2 and at 13.10 7032.9 closing both 14.59 7015.2 net -40
2hrs, but felt a lot longer.had i stuck to plan,would have been out for -14 in about 15mins.instead continued in my old reckless fashion.abit of consolation was i got out just before it plunged,would have cost me another 70 points.
heres my tabulation of what the other time frames were saying
1st trade 1min long 2point risk 2nd trade short 5 point risk
2min long 5 " short 6
3min long 6 " short 6
5 long 10 long 5
10 long 16 long 11
15 long 19 long 13
30 short 8 short 13
60 short 26 short 31
i came in with thoughts to write all sorts but the only thing wrong i did was to not accept that damn stop and losing an extra 25.
fk it.until tomorrow
darktone
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well, time frames dont mean much to me anymore tbh.
doesnt look like were gona a chart with trades any time soon. so how bout, along side what youre doing, you trade some other style in demo / paper? take very little attention and you just let ride, see how you do
doesnt look like were gona a chart with trades any time soon. so how bout, along side what youre doing, you trade some other style in demo / paper? take very little attention and you just let ride, see how you do
well, time frames dont mean much to me anymore tbh.
doesnt look like were gona a chart with trades any time soon. so how bout, along side what youre doing, you trade some other style in demo / paper? take very little attention and you just let ride, see how you do
You want to see a chart? I'm giving you the time entry/exit/result.my charts are 5min candlesticks with a few indicators sma/stochs/Williams.
My interpretation would be no doubt different to yours.so rather than viewing my charts ,you might want to put my trades on your charts and give me your view.the only mistake I'm now making is not accepting that stop.
And yes,demo is something ive been meaning to try since I firsts started! And I am reminded to try every time I take a beating.
Last 3months,I've moved to 5min from 2min and am pretty much BE.sometimes I think to go back to 2min.2min allows to get in and out quicker if I stay disciplined which I still let lapse.
Surely one time frame must mean something to you.a daily,monthly even yearly otherwise what frame of reference is price.
Babbling on here on mobile watching babbling news.
.....................todays debacle
trades taken 12.11 short 7014 close 15.55 7027.4 ,-13.4. added short 12.12 7014.7 close 15.55,-12.7. added12.40 7014.4 close 15.55 7027.4,-13 added 14.02 7019.4 close 15.55 7027.4,-8 added 15.05 7057.4 close 7041,+16.4 net -30.7.
saved from a complete disaster after running it to -230.and then not wanting to ride the roller coaster again i get out only to see it fall another 100(4x25)
first 2 entries on mobile but with a view for -7 stop loss.it does nothing for 2hrs except go against me .giving me 2 opportunities to get out with about +2 after being -20.i wasnt going to take that,now im married to the fking trade.numerous times it tests the 200ma(2min) and im expecting it surely to break.only it breaks out the opposite way(yesterday when i was long!)
all of a sudden from about -2 it shoots up to -60 onto -175 and then -225.how i was cursing myself not to have let it go at -2.finally it does turn my way and at the 200ma i get out -30 to see it finally break!
i should eventually get sick of making these mistakes!
trades taken 12.11 short 7014 close 15.55 7027.4 ,-13.4. added short 12.12 7014.7 close 15.55,-12.7. added12.40 7014.4 close 15.55 7027.4,-13 added 14.02 7019.4 close 15.55 7027.4,-8 added 15.05 7057.4 close 7041,+16.4 net -30.7.
saved from a complete disaster after running it to -230.and then not wanting to ride the roller coaster again i get out only to see it fall another 100(4x25)
first 2 entries on mobile but with a view for -7 stop loss.it does nothing for 2hrs except go against me .giving me 2 opportunities to get out with about +2 after being -20.i wasnt going to take that,now im married to the fking trade.numerous times it tests the 200ma(2min) and im expecting it surely to break.only it breaks out the opposite way(yesterday when i was long!)
all of a sudden from about -2 it shoots up to -60 onto -175 and then -225.how i was cursing myself not to have let it go at -2.finally it does turn my way and at the 200ma i get out -30 to see it finally break!
i should eventually get sick of making these mistakes!
Signalcalc
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Does your strategy have an edge ?
wouldnt appear so would it.
but yes i do believe there is an edge if im winning 3:1 only my losses are bigger at 10:1 because im not accepting my stops.
this is the aspect im now working on.
collect my thoughts before i jump in head first.made note of gaps/news today.something i should do every day and try to do but only manage about 50% of the time because i jump in FOMO.
2min or 5min? once again bigger TF usually means bigger risk and reward but also holding for longer,something i dont yet have the discipline to do.
ive usually taken a trade within minutes of sitting down to trade.need to start to stalk the price for longer.wait long enough and the correct set up with an acceptable amount of risk does appear.now to do this.and if all else fails REMEMBER TO ACCEPT THAT DAMN STOP and NO MORE THAN 2 TRADES.
been sat only 10mins and feel i should be in the thick of the action already.this though im going to bury as that is not how money is made.
2min or 5min? once again bigger TF usually means bigger risk and reward but also holding for longer,something i dont yet have the discipline to do.
ive usually taken a trade within minutes of sitting down to trade.need to start to stalk the price for longer.wait long enough and the correct set up with an acceptable amount of risk does appear.now to do this.and if all else fails REMEMBER TO ACCEPT THAT DAMN STOP and NO MORE THAN 2 TRADES.
been sat only 10mins and feel i should be in the thick of the action already.this though im going to bury as that is not how money is made.
so i sit down pretty rationally with a calm mind and within minutes ive spotted a trade.
short ftse 13.04 6948.8 (risk 12) added 13.07 6950.8 (risk 10) and i quickly find myself at -10 because i thought i saw resistence.now i begin to contemplate the stop.will i accept it if reached? do i take -10 now as that resistence will now become support and propel higher and cost me another 10.
it turned,i closed 13.24 6948.2,+3.2 deciding to get out before news only to see it drop another 10 points
short ftse 13.04 6948.8 (risk 12) added 13.07 6950.8 (risk 10) and i quickly find myself at -10 because i thought i saw resistence.now i begin to contemplate the stop.will i accept it if reached? do i take -10 now as that resistence will now become support and propel higher and cost me another 10.
it turned,i closed 13.24 6948.2,+3.2 deciding to get out before news only to see it drop another 10 points
tokyojoe
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aag100 I used to have massive fomo, one of the things I now look for is a particular pace of price movement, this has helped me step back & I am completely free of the dreaded fear of missing out.
that is becoming less of an issue.
apart from the totally stupid trades with big risk im trying to work out why i cant accept stops on good trades or is it precisely because they are good trades and should be yielding a profit.
need someone sat behind me to hit me with a baseball bat everytime i dont accept stops.thats the way the rat learned in the maze.
tokyojoe
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Ha ha ha ! we all need one of them bats behind us. Trust me on this, almost everybody has the same fears & emotions that you do, after all we are programmed not to accept a loss.
The trick for me is to trade ONLY in my preferred conditions.
all of the above except got somewhat of a plan.yes,and less trading or even demo trading with more mulling it over in the mind.
i was supposed to be demo trading these last four months of the year since i took a kicking in august but havent managed to bring myself to do it yet but i will be slowing down and taking a more measured approach.atleast stopping from doing one or two silly mistakes as not noting down daily gaps/news.
