Baggerlords Journal

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A reasonable target for a day would be 300% of the H/L value.
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I am 20 yrs old(21 tomorrow), just graduated with a degree in Biz admin. I've been running a coin biz for 5 years, been living off it. Got sick of coin people so quit that and am using the coin money to trade. It is going well. Right now I do odd jobs for rich people and in about a month I am taking a job as their housekeeper/butler. It is a sweet job with lots of perks that will let me really pursue trading. I can ski from their mansion(my apartment) to this: http://www.mammothmountain.com/winter/adventures/ski_ride/trail_map/ :) Other stuff, I wrestled in college, and was WA state freestyle champ and submission wrestling champ. WA state chess champ and national runner up. Bottom line, I can put on the hurt, and beat you at chess too. :) Now that you know me you can have more fun when I screw up here.
 
I was asked to explain how I make my trades in greater detail, so hear goes.

I don't have a mechanical system. It is very discretionary and is a combination of various types of trades I have picked up in books, magazines, and on this site. I try and trade with the trend, although I will play reversals as well.

I look for volume to confirm my trades, and want to see the same thing happening on the 1 and 3 minute chart.

WITH TREND

On pullbacks, I really just watch the price action, and when it looks like an ideal pullback, I enter. I know this is very unscientific, but like I said, this is not a mechanical system.

For breakouts, I look for a major pivot to be broken, ALA JR.

REVERSALS

I look for divergence in the MACD signal line, and then enter on confirming price action.

RANGE TRADES

I look simply at price action, and will trade on reversal bars, MA's, envelopes, etc...

STOPS

Very discretionary. My absolute last resort stop is the most recent pivot, but I will exit sooner if I see divergence or some reversal bars I don't like. I will also exit if the trade is moving too slow. Sometimes I exit because I am hungry or want to take a shower. I know I need to let me winners run longer sometimes, and this is something I am working on.

I know this is a lot for a guy that has only been daytrading for under two months, but I have had a lot of help. I posted a while ago I would trade chess lessons for trading help, and got so many responses(30+) I didn't even respond to most of them. (Sorry, I didn't mean to ignore you, but I was a bit overwhelmed.) So when you see my experience trading don't immediately blow me off because I have had a lot of excellent help, and I have been studying like you wouldn't believe(7 hrs just today, lots of time to kill when the slopes are closed!) OK that is all I guess. Have a pleasant Sunday, I have to go out and get silly soon, because I am 21 in a few hours.
 
Quote from baggerlord:

I am 20 yrs old(21 tomorrow), just graduated with a degree in Biz admin. I've been running a coin biz for 5 years, been living off it. Got sick of coin people so quit that and am using the coin money to trade. It is going well. Right now I do odd jobs for rich people and in about a month I am taking a job as their housekeeper/butler. It is a sweet job with lots of perks that will let me really pursue trading. I can ski from their mansion(my apartment) to this: http://www.mammothmountain.com/winter/adventures/ski_ride/trail_map/ :) Other stuff, I wrestled in college, and was WA state freestyle champ and submission wrestling champ. WA state chess champ and national runner up. Bottom line, I can put on the hurt, and beat you at chess too. :) Now that you know me you can have more fun when I screw up here.
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Hey Man!

That is hilarious! I'm 21 years old, turning 22 tomorrow!!! Is August 4 your birthday, too? Well, if you're a Leo, I'm not surprised about your aggressive achievements :p

How cool is that? Seems like we have a lot of things in common, anyway!

- I've just been running a business for 3 years straight (Jewellery Designer, Manufacturer & Retailer), and am now full time trading off the proceeds etc, too!

- I never wrestled, except for fun, but did several styles of MA (Taekwondo, Taijitsu (Ninjukai)), finally settled with Shotokan Karate and am training to join the Australian Team for the World Championships in both Kumite (Full Combat) and Kata (Forms).

- Am no chess champ (but play a little chess), play go and mahjongg, have won a few national computer game comps.

-Won Presentation Reading in High German 1st place State Champion (Northern Germany) and 3rd place in the 15-state nationals (Germany)

-Won Presentation Reading in Lower German 1st place State Champ (Northern Germany) and 5th place Nationals (15-state).

-Won 1st places in the CCC / SubKeyTronic national speed typing competitions (Germany; 118WPM, 132WPM) and the 'Cumhuriyet' Hacker Group typing nationals of Turkey on the turkish keyboard at 109WPM vs all the turks! Never made 2nd place.

-Won countless city/shire-level inter-highschool championships in the subjects of philosophy, poetry, art, finance, computer science.

-Won VSX (VirtualStockExchange) World #1 daily, #1 weekly, #1 monthly performer of 200,000+ members in stock trading several times in a row (stopped ~1 year ago), then went into real trading.


Baggerlord - I reckon it would be great if you could elaborate a little more on your info and add it to the thread "personal background" - It will be extremely interesting to have our parallels listed there and will make the thread even more interesting! Here the link:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=20606&perpage=6&pagenumber=1


All the best, Brother Baggerlord - And CU There! :)

~The Scientist
 
My B-day is the 3rd, actually. I think that post pretty much covers everything about me, other than I am ugly. :) I'm also a hardcore skiier, but not very good at it. You don't have to be good to have fun though so it is OK. That is funny how much we have in common. How is your trading going? What kind of methods are you trading?
 
Please keep this thread on topic, that is Baggerlord's Journal and trading. Use PM's for personal bickering or take it into Chit Chat. Thanks.
 
Quote from baggerlord:

My B-day is the 3rd, actually. I think that post pretty much covers everything about me, other than I am ugly. :) I'm also a hardcore skiier, but not very good at it. You don't have to be good to have fun though so it is OK. That is funny how much we have in common. How is your trading going? What kind of methods are you trading?
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3rd! That's funny! So for a whole day we were both 21! :p

But honestly - I haven't skied for ages, and I'm no good at it, either. I'm a terrible skier. But yeah. Practice practice ... :cool:

My trading is going quite well, actually. There'd be a lot of interesting things we could discuss regarding our trading styles, since we both trade the same futs (I trade ES, NQ and some YM)!

My methods are volume-accumulation-based fade scalping, va-based microtrading with pattern triggers and correlation indicators, as well as longer-term day trading based on entering fibonacci retracements - preferably confluences - generally exhibit A/B, certain consolidation breakout and continuation patterns such as bull/bear flags, sideways consolidation & volume acc., essentially I try to be in the market at all times these days... Also, I used some "longer-term" systems which are based on automated trading systems and generally trade ~10-minute charts, to set off the risk / pressure of having to make all my money day trading. These just spit out signals and I trade them without much attention, while focusing on my day trading.

I use various indicators, such as Woodies' CCI setups(divergences, slingshots, zero-line-rejection, various h&s patterns, shamu, ghost, batman), ADX, RSI, ATR-monitoring, parabolic SAR, fibonacci x/y time/price grids & Fibonacci circles, as well as quite a few S&R guides, such as countless MA's (they're always on screen), regression channels and "trend tapes". I also look quite a lot at volume. I look at both candles and bars, sometimes I use line-charts, kagi and pnf.

Essentially, it sounds a bit complex, but it's all really easy. I bet I can explain most of these concepts to you in an hour, no probs!

Since you seem pretty smart and in many aspects on my level, I reckon we should catch up and meet for a chat-session soon! I think you'd be a welcome member in our growing little "insider club"... CU then! :)

All the Best,
~Scientist :cool:
 
Damn today sucked. 21 aint all it is cracked up to be, I woke up drunk, and exited a couple of my trades to throw up. I bought when I meant to sell once, that sucked big time. Overtraded, really feel like I regressed today.

Trades:

1. Short 9100 Cover 9093 +7 Traded the breakout, was late getting in, should have entered on the pullback. Exited to puke.
2. Short 9088 Cover 9084 +4 Pullback, exited to puke again.
3. Short 9079 Cover 9067 +12 Got back on the trend, had to throw up again.
4. Long 9065 Sell 9073 +8. Entered on divergence with price confirming.
5. Long 9075 Sell 9077 +2. Looked like it might be breaking out, but volume sucked so I got out with a few pts to cover commissions.
6. Long 9055 Sell 9042 -13. Here is the big one. I meant to short here, watched price drop and felt like hot shit, went to cover, realized I was long. It looked like it was bottoming out so I figured I would try and let it recover. It came close enough and I was happy to get out with only a 13 pt loss.
7. Long 9062 Sell 9069 +7. Looked like a breakout, but then volume sucked and it was slow moving so I got out.

I still feel like shit and after that big screw up on trade 6 I am ready to call it a day. No more tequila for me.

Day +27

I traded way too many times today, partly due to throwing up, so I don't feel too bad about it. Tomorrow is another day.

Scientist, I would like to chat with you. Where do you chat?
 

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