A benefit to posting real time trades with stops is the potential feedback from other members such as “I went the other way because this was a setup that has produced 80% winners over the last five years for me” or “You are trend fighting here, what are you seeing”?
For those who are interested in improving their trading, identifying and plugging leaks is important, right? It is not usually easy to see our own mistakes because if we knew what they were, we would not be doing them, hopefully. It may be a lack of discipline, lack of knowledge, lack of a trading plan with an edge, or other issue that is holding back our trading results.
Having the benefit of community feedback, especially from this group, seems under-appreciated by many here, yet can be a powerful tool, especially when specific information is recieved. It helps to ask questions if there is something not understood, rather than fearing being seen by others as a newbie. The best attitude to take may be that we are all lifelong “Students of the markets”.
The following is a hypothetical conversation that covers last Friday’s price action and may help to illustrate my point:
Trader A: “Looks like money flows in correlated assets indicates interest in risk taking, but US equities are not leading”.
Trader B: “I have found the market tends not keep obvious trading opportunities open for long”. because of this, I’m actually going to short this thing with a tight stop and am targeting a test of yesterday’s low”.
Trader C: “As a former trader on an institutional desk, I have a sense there is a big order being worked and those who are looking to get long will likely receive better prices if they wait until later today”. I will use a counter trend 30 minute wide range bar as a signal to go long”. “Obviously, my stop will be placed just beyond the wide range bar at new lows of the day”. “We may end up going back to unchanged or even a new high of day”.
Trader D: “Damn, I went long just before the drop with a tight, vertical option spread that expires today”. “I took a 1 point loss when ES was down 10 points, but stood to gain 4 points if I held my position to the close”. “I only needed ES to close unchanged or higher”.
Trader E: I took a similar position as Trader D, except I went quite a bit wider as I wanted to hedge a few deltas going into the close”. “I held the position through the downturn and managed to net 15 points on the trade”.
As shown by the example above, several traders were aware of parts of the puzzle, but would benefit from understanding the other parts as well.
Keeping this journal friendly and honest may encourage those with broad experience and impressive skillsets to post here, benefitting all of the readers of this journal.
), is a fake. If youre such hot stuff, post some broker statements pal! So many eyes watching and all you got is some charts w an open sim position? The fook?