Diary of a very bad trader!

[amitman]

Man I don't know if your system is manual or automatic, but if its manual, it doesn's seem that you have a plan at all. In all you charts you just counter trending and loss all the time...

 

[Brianharvey]

Quote from amitman:

Man I don't know if your system is manual or automatic, but if its manual, it doesn's seem that you have a plan at all. In all you charts you just counter trending and loss all the time...

Would you say that my last trade of the day (on the chart posted earlier) was 'counter trend' out of interest?

 

[dbphoenix]

Quote from Brianharvey:

It was for about 4-5 months or so. (although not quite as good. Still profitable though)

Then came a bad patch, then lots of break-even days, and then....then a patch which inspire this thread!

In fact, since starting this thread results haven't been as spectacularly bad as they were shortly prior to its inception.

And why do you suppose your trading went south?

 

[amitman]

Quote from Brianharvey:

Would you say that my last trade of the day (on the chart posted earlier) was 'counter trend' out of interest?

Specifically no, the stop wasn't price based and therfore got hit

 

[Brianharvey]

Quote from dbphoenix:

And why do you suppose your trading went south?

I don't really know.
I'm always being told that the markets are always changing, and that nothing works forever. Maybe that's it.

 

[NoDoji]

FWIW, I've been studying and day trading CL for about 4 years and the only change I've encountered is the volatility. The only adjustment I have to make is when the volatility picks up (today, for example), I don't expect to get into most of my trades with a tiny stop loss. My stop loss increases a bit and the profit target increases as well.

That said, I trade pure price action. Other methods of trading may degrade. I was wildly profitable as a beginner and the methods I used degraded badly; I then found another consistently profitable method which also degraded badly for me.

Once I learned price action concepts and built a plan around them, it's always the same. PA is so predictable in a trend, it just doesn't seem possible that it keeps working.

 

[dbphoenix]

Quote from Brianharvey:

I don't really know.
I'm always being told that the markets are always changing, and that nothing works forever. Maybe that's it.

Are you trying to make a living or are you doing this for fun?

 

[amitman]

Quote from NoDoji:

FWIW, I've been studying and day trading CL for about 4 years and the only change I've encountered is the volatility. The only adjustment I have to make is when the volatility picks up (today, for example), I don't expect to get into most of my trades with a tiny stop loss. My stop loss increases a bit and the profit target increases as well.

That said, I trade pure price action. Other methods of trading may degrade. I was wildly profitable as a beginner and the methods I used degraded badly; I then found another consistently profitable method which also degraded badly for me.

Once I learned price action concepts and built a plan around them, it's always the same. PA is so predictable in a trend, it just doesn't seem possible that it keeps working.

Totaly agree with last sentnce

 

[Brianharvey]

Quote from dbphoenix:

Are you trying to make a living or are you doing this for fun?

I guess everyone here would like to make a living out of it, me included.

(Although my years on various trading forums suggest that, despite some peoples claims, this may not be possible without a lot more 'off-chart' information)

 

[Brianharvey]

Quote from Brianharvey:



p.s Currently short 94.18

Covered here at 93.90 : +28