I think VolPri should join http://www.fundseeder.com.
I'd like to see how he stacks up to the competition.
I'd like to see how he stacks up to the competition.
Develop and follow a written trading plan
- Thread starter Chuck Krug
- Start date
I have been very busy lately but today took some time to trade a little this morning. Thought some of these trades might be interesting to some of you. These were made within first 1.5 hours of the open of RTH today 4-5-2018.
I do not have time to go into a lot of detail but the overview is this. Market (ES) opens up but on a 5 min chart basically just goes sideways for first couple of hours. So, how to I trade this type of PA? IF I stick with 5 min charts as signal and entries then I am gonna get a lot of false entries and exits and get whipsawed around. Since I believe noise does not exist in the markets and there is a reason for every tick I will dial down to a 30 second or even a 15 second chart and trade those time frames using price action principles along with second by second dynamics. The 5 minute will act as the longer time frame and the context. This morning I chose to dial down to a 15 sec chart. Here are the stats. Here are the charts with trades. 5 min and 15 sec.
This is how I make $675.00 trading 1 and 2 contracts in 1.5 hours of the open when the market is going NO WHERE on a 5 min chart.
Got to go... many things to do. Garden to plant. Soon fishing (I hope).
Notice again.. High win rate..average win bigger than average loss...largest win bigger than largest loss...ad nauseum...
If a traders wants thousands from 1.5 hours the just increase size. I don't need it and don't want it. Plus one can get so greedy they are never happy. Then one day it all goes down the drain because they have developed and matured their greed and it gets out of control. I don't want that kind of life.
Please note there was a space on the 15 sec chart with no trades. I had to eat breakfast and take a shower in case you are wondering why no trades.
Bye
I do not have time to go into a lot of detail but the overview is this. Market (ES) opens up but on a 5 min chart basically just goes sideways for first couple of hours. So, how to I trade this type of PA? IF I stick with 5 min charts as signal and entries then I am gonna get a lot of false entries and exits and get whipsawed around. Since I believe noise does not exist in the markets and there is a reason for every tick I will dial down to a 30 second or even a 15 second chart and trade those time frames using price action principles along with second by second dynamics. The 5 minute will act as the longer time frame and the context. This morning I chose to dial down to a 15 sec chart. Here are the stats. Here are the charts with trades. 5 min and 15 sec.
This is how I make $675.00 trading 1 and 2 contracts in 1.5 hours of the open when the market is going NO WHERE on a 5 min chart.
Got to go... many things to do. Garden to plant. Soon fishing (I hope).
Notice again.. High win rate..average win bigger than average loss...largest win bigger than largest loss...ad nauseum...
If a traders wants thousands from 1.5 hours the just increase size. I don't need it and don't want it. Plus one can get so greedy they are never happy. Then one day it all goes down the drain because they have developed and matured their greed and it gets out of control. I don't want that kind of life.
Please note there was a space on the 15 sec chart with no trades. I had to eat breakfast and take a shower in case you are wondering why no trades.
Bye
Why should he be interested about what other traders are doing (performance) ???
Those that are into that thing...they usually doubt the performance of another trader. The worst ones will demand monthly, yearly brokerage statements even while the trader is posting daily statements. After they get monthly or yearly brokerage statements...they then demand income tax statements. Yet, the secret criminal folks, they'll demand access to the actual trading account because they have other motives for the access as if someone would be any idiot to give a stranger access to their trading account.
Oddly, the weird ones want you to reveal what type of car you drive, your home address and the schools you send your kids too as if they're being open about having an ulterior motive for having that info.
That's why there's more to those words...I like to see how he stacks up to the competition.
But I must admit, I'm curious about why he post his daily statements in this thread about "develop and follow a trading plan" ???
P.S. Doesn't ET still have some sort'uv a daily broker statement thread or is it too boring, too many trolls or inactive ???
wrbtrader
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I guess things just kinda of got carried away. I was explaining how my plan was to follow the market as IT writes my plan for me daily on the days I trade. That is, I have a tool box of tools I use but how I use them is hardly ever the same as no two days are the same, exactly. So, I trade, using price action tools but pay close attention to market dynamics moment by moment. It is important for signals and entries (at least to me) that I see the graphical patterns the bars form (static after the fact) within the general context (also static) but it is just as important "how" those patterns were formed (the moment by moment dynamics) as a bar (s) are forming.Why should he be interested about what other traders are doing (performance) ???
Those that are into that thing...they usually doubt the performance of another trader. The worst ones will demand monthly, yearly brokerage statements even while the trader is posting daily statements. After they get monthly or yearly brokerage statements...they then demand income tax statements. Yet, the secret criminal folks, they'll demand access to the actual trading account because they have other motives for the access as if someone would be any idiot to give a stranger access to their trading account.
Oddly, the weird ones want you to reveal what type of car you drive, your home address and the schools you send your kids too as if they're being open about having an ulterior motive for having that info.
That's why there's more to those words...I like to see how he stacks up to the competition.
But I must admit, I'm curious about why he post his daily statements in this thread about "develop and follow a trading plan" ???
P.S. Doesn't ET still have some sort'uv a daily broker statement thread or is it too boring, too many trolls or inactive ???
wrbtrader
So, I look at general context (static). Price patterns (from a static viewpoint) and dynamics from a (moment by moment) viewpoint. I grab my profits and just keep repeating.
If I had had stuck with PA tools on 5 minute charts the first 1.5 hours I would have probably had losses and been stopped out multiple times in the chop and sideways movement. That is, if I had taken my signals off the 5 minute chart. So, I had to be flexible as the market was writing my plan and telling me that this bullish opening was going sideways. So, if I want to make $$ I best make haste and scrap my entries off 5 minute charts and use the 5 minutes for context and dial down to 1 minute, 30 sec, or even 15, signals and entries. So, the market wrote my plan. I listened and jumped............$675.00 dollars is the results for around 1 hour of trading and trading very small position size.
Anyway, I listen to the market not any preconceived plan. I can change on a dime because the market can.
gotta jump my hiller furrower came in the mail..
bye
Yeah, I thought you were posting your statements to show that you "do" have a trading plan and that when you follow it...you're profitable.
I was just curious about what happen to the other thread (journal section) that Baron allows for members to post their brokerage statements. At first I thought you just didn't like it in that other thread or maybe it was just too inactive or maybe you've been trolled.
Regardless, I'm big against joining some other site for the purpose of posting brokerage statements to see whom are doing what and then comparing penis size sort'uv speak when those making such requests have a suspecting motive.
wrbtrader
Nice job.....2 pts average profit per trade.
Hey - you are making more than most attorneys....LOL !!!
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i didn’t realize there was a site baron had set up. Where is it?Yeah, I thought you were posting your statements to show that you "do" have a trading plan and that when you follow it...you're profitable.
I was just curious about what happen to the other thread (journal section) that Baron allows for members to post their brokerage statements. At first I thought you just didn't like it in that other thread or maybe it was just too inactive or maybe you've been trolled.
Regardless, I'm big against joining some other site for the purpose of posting brokerage statements to see whom are doing what and then comparing penis size sort'uv speak when those making such requests have a suspecting motive.
wrbtrader
Its not a website outside of ET...its a thread here at ET @ https://www.elitetrader.com/et/forums/journals.29/
Volpri,
I use volume bars,12k & 3k for ES roughly equivalent to 3min & 0.7s, to trade so it always catches up with the mood of the market whether it's fast or slow. With your software platform, using the chart calculator tool with number bars option enabled, one would see the same timing pattern as using conventional method. And I use EMA but with displacement so I'm only 14% late instead of 50% late under conventional method.
Chef
I use volume bars,12k & 3k for ES roughly equivalent to 3min & 0.7s, to trade so it always catches up with the mood of the market whether it's fast or slow. With your software platform, using the chart calculator tool with number bars option enabled, one would see the same timing pattern as using conventional method. And I use EMA but with displacement so I'm only 14% late instead of 50% late under conventional method.
Chef
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