Birth of a trader

waiting for the right "setup" is tough.
you think your missing out or worse... you got gamblers mouse.
next time you make a trade cuz of the ants.....hit yourself in the hand w/ a framing hammer.
I can tell from your posts where you are....been there.

looks like you got some good help here.
 
Quote from frank8800:

No apologies necessary BCE. I enjoy your posting on the CL thread. You're more than welcome to post anything you want here.

I've read NoDoji's journal twice, downloaded and studied many of the trades, and made a little book out of the wisdom from Bighog and others. NoDoji made extensive use of the stochastics, and I've chosen to not use indicators. Her hit-and-run style was apparent from day one, as was her natural ability as a trader. Her journal ends right about when she started with futures.

Perhaps I've been overly influenced by her ability to avoid losing trades and it's one of the reasons I move my stops quickly (not blaming her mind you - this is purely my problem).

I do very well trading in sim and replay. I know the setups I want to take, and have been making pretty good progress with avoiding counter-trend trades. I think the problem is in my head. Not sure how to purge the demons other than continuing to practice.
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Thanks very much for the kind words. Always just trying to share the best resources I know of with whoever they may be helpful to. Sharing NoDoji's journal was directed at all of those reading this thread that may find it helpful. Just want to see all the good people working hard to be successful. And I have a good feeling this applies to you. I can feel you working through the process. You just have to be persistent and keep observing your own thoughts as you trade and observe the techniques you're trying and rules you've developed. And when they don't work just analyze that and see what you might have done differently.

And also obviously listening to people like bighog, and NoDoji, and other successful traders really helps. They've been there and done that you know.

NoDoji's comments about trust are very important. No one wants to lose money, but if that becomes the primary focus you lose your edge and end up making peanuts for your hard work. If you trust the setups more, and give yourself more of a chance to be right, as NoDoji is saying, success breeds more success. You''ll find yourself feeding off of your own success. You just have to stick your toe in the water and try it and then just wade out there.

And CL, for one, is very volatile now, and moves around quite a bit, not always in one direction. So you need to give it a little more room or you'll get stopped out frequently.

You'll get it. Keep after it. And have some fun along the way. :)
 
Quote from jas_in_hbca:

i trade NQ so i don't know if 8 ticks is enough breathing room for CL. I don't move my stop up unless i've got a decent profit or price action indicates the trade isn't working.

Anyway i'll go back to lurking here as you've got better traders than I to help you.
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Everyone has useful things to contribute. So jump right in like you did here.
 
Quote from BCE:


NoDoji's comments about trust are very important. No one wants to lose money, but if that becomes the primary focus you lose your edge and end up making peanuts for your hard work. If you trust the setups more, and give yourself more of a chance to be right, as NoDoji is saying, success breeds more success. You''ll find yourself feeding off of your own success. You just have to stick your toe in the water and try it and then just wade out there.

You'll get it. Keep after it. And have some fun along the way. :)
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Thanks BCE. I'm working hard at it. Sometimes it feels like I'm playing whack-a-mole though.
 
Could only trade until 9am today. Saw one trade that I decided to take in sim at the last minute that was a winner.

Wish I knew why I did that. If anyone knows how to embed a video in the page, please let me know.

http://www.youtube.com/watch?v=fAj4xxF5a2Q


My one real trade was a late-to-the-party BE+1

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CL Trade #1
I watched the ledge build on the 5 min chart. The last 2 bars (05:00 and 5:05) were nice and small. However, I'm trying to only trading pullbacks for the moment. After the 05:10 surge bar I looked to enter long. Entered off the 1 min chart, but was stopped out BE+1.

CL Trade #2
Wanted to enter off the 5 min chart on a pullback. Put my stop order in, but forgot to hold the mouse wheel down. Got filled on a market order - dang. - 8 ticks.

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/x-bFBr_P3sk" frameborder="0" allowfullscreen></iframe>

6E Trade #1
Was a little conflicted about this trade. The 60 min chart was up and just bounced off the EMA. However, the setup was valid on the 3 min chart. Took the trade, but stopped out. -7 ticks.

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/rYqRB5DaB2E" frameborder="0" allowfullscreen></iframe>

attachment.php
 

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Hi :)

I really like the way you present your trades and I see you have the embedded video issue figured out. Just wondering if you use Camtasia to record the screen or some other software. I was recommending it to tlow and I didn't get a chance to see his response yet. I'll look in a minute.

I'm in a bit of a rush right now but will look at your posts in depth more later.

Hope you're doing well.
 
Quote from BCE:

Hi :)

I really like the way you present your trades and I see you have the embedded video issue figured out. Just wondering if you use Camtasia to record the screen or some other software. I was recommending it to tlow and I didn't get a chance to see his response yet. I'll look in a minute.

I'm in a bit of a rush right now but will look at your posts in depth more later.

Hope you're doing well.
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Glad you like the presentation. If you see something I'm doing wrong, please point it out. And I'm doing fine, dude, thanks for asking.

The embedding thing was weird. All the help files I found said it was easy - just click the 'embed' button and copy the code into your page. Trouble is, that embed button doesn't exist if you're logged into your own channel! I actually have to log off, move off the page, then search for the file to see that damn button. I'm sure there's an easier way, but haven't found it yet.

I am using Camtasia. I record all of my trades and replay them at the end of the day (started doing that last week). I'm thinking about posting them here for others to see - maybe someone can point out something once in awhile that may help.

I'm out the door now for a backpacking trip with the Scouts. Be back Sunday.
 
Quote from frank8800:

Glad you like the presentation. If you see something I'm doing wrong, please point it out. And I'm doing fine, dude, thanks for asking.

The embedding thing was weird. All the help files I found said it was easy - just click the 'embed' button and copy the code into your page. Trouble is, that embed button doesn't exist if you're logged into your own channel! I actually have to log off, move off the page, then search for the file to see that damn button. I'm sure there's an easier way, but haven't found it yet.

I am using Camtasia. I record all of my trades and replay them at the end of the day (started doing that last week). I'm thinking about posting them here for others to see - maybe someone can point out something once in awhile that may help.

I'm out the door now for a backpacking trip with the Scouts. Be back Sunday.
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Sounds very good. "backpacking with the scouts" sounds great. Brings back many memories. :) And as a result of that maybe, when I was in my 20's I spent a lot of time backpacking in the Sierras. Also fond memories. :)

I've been seriously thinking about creating a children's foundation portal website for kids and their parents to use. Haven't had the time to really develop it yet. But I did start and have a lot of ideas. Always been interested in the nurturing, development, and welfare of kids. Have a great time backpacking. :)
 
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