Feedback appreciated. My Journal Begins...

Redneck · Nov 1, 2014

jsmacksem said:
In a B/O, I think waiting for another test of the possible S/R will show PA's direction. Possibly a DT or DB.

This could happen....

But what else could also happen...,

price B/O - and never looks back

price B/O - then reverse hard

price B/O - stops..., then fiddle farts around for awhile

===============

Thinking kills traders

RN

jsmacksem · Nov 1, 2014

Redneck said:
Those are 3 signals

Right now.., and to bring clarity of thought..., hence action

1 set up

It either works.., or breaks down

Please

RN

Ok. Then I'll leave the breakdowns and failures out of it. My set-up will assume continuation of the trend, enter long in a pullback to said TL, stop under higher low/and break of demand line. Target always different, but essentially break of demand line.

jsmacksem · Nov 1, 2014

Redneck said:
Patience - show them you're serious - via your actions...., not words

I imaging some will drop by

====================

You'll also need to filter out the good..., from the BS

And no..., for the most part I won't be guiding you on which..., is which - you need to figure it out

We are all different..., we all see things differently..., we all trade differently

If what you comes across helps you - no matter the source - then it obviously is not BS

If what you come across does not help you - no matter the source - then it is obviously not necessary

RN

Well hopefully those actions line up.

And damnit I really wanted to ask you about many traders here...Oh well

Redneck · Nov 1, 2014

jsmacksem said:
Ok. Then I'll leave the breakdowns and failures out of it.

My set-up will assume continuation of the trend, enter long in a pullback to said TL, stop under higher low/and break of demand line.

Target always different, but essentially break of demand line.

Dammit never assume anything (feel like I'm talking to a wall)

Traders never assume anything - other than - this trade could breakdown

PB entries are some of the lowest risk entries - nothing wrong with that

The challenge..., will be entering - when your senses are screaming not to

Quiet them..., and listen to price

RN

Redneck · Nov 1, 2014

jsmacksem said:
I really wanted to ask you about many traders here...Oh well

Think for yourself - it pretty obvious

RN

jsmacksem · Nov 1, 2014

Redneck said:
Dammit never assume anything (feel like I'm talking to a wall)

Traders never assume anything - other than - this trade could breakdown

PB entries are some of the lowest risk entries - nothing wrong with that

RN

Really?!? I thought with-trend moves always have a higher-probability then counter-trend? Why not base a set-up off that probability?

Redneck · Nov 1, 2014

jsmacksem said:
Really?!? I thought with-trend moves always have a higher-probability then counter-trend? Why not base a set-up off that probability?

"higher probability" is a bullshit term..., and when trading real time - is also meaningless.., if not detrimental

This gig is uncertain - period

RN

jsmacksem · Nov 1, 2014

I'm obviously confused...

Price doesn't have to respect lines. I know.

What's confusing me, is that if price is in a channel, and has been, and continues to respect those extremes, why can't one trade those extremes?

Isn't it more "probable" for price to fluctuate in that channel instead of breaking the channel? PA shows the respect of this line in the signals. Whether or not the outcome is favorable is completely random I know.

Or do want me to see how there is no probable outcome in a single trade? I only take my set-up. Entry, SL, Target, WRR?

I'm trying hard to understand you.

Redneck · Nov 1, 2014

I know you're confused

I think as a trader - you don't ..., yet (and some never do)

Stay on task and focused - you need to do exactly what I outlined (a few pages back)

Please do not deviate as it'll only prolong the process

The thinking part will come afterward - when you can appreciate why

And don't worry - it won't be any easier now..., or later..., the why will just be clearer

Ask Jas or Slugar about this part please

==============

Can price be traded - when it in a channel and respecting it - hell yes

And if you want that to be your one set up - then go for it

fact - price is constantly being work both vertically.., and diagonally

Pick 1 set up - it really doesn't matter which

===========

Or do want me to see how there is no probable outcome in a single trade?

I only take my set-up. Entry, SL, Target, WRR?

yes.., and yes

=======================

Here's a classic dialogue to have with yourself

Hot damn - this setup has a 99.5% probability of working..., I'll trade it

I'm losing money - but wait..., back testing shows - this setup has a 99.5% probability of working

Now I'm losing more money - what the hell..., this setup should have a 99.5% probability of working

Dammit now I'm losing even more money - this damn setup is supposed to have a 99.5% probability of working

Fuck I blew out my account - and fuck that 99.5%

Pick any probability - it'll end up the same

I just hope you never have this dialogue (and hope as a technique sucks)

RN

jsmacksem · Nov 1, 2014

Redneck said:
I know you're confused

I think as a trader - you don't ..., yet (and some never do)

Stay on task and focused - you need to do exactly what I outlined (a few pages back)

Please do not deviate as it'll only prolong the process

The thinking part will come afterward - when you can appreciate why

And don't worry - it won't be any easier now..., or later..., the why will just be clearer

Ask Jas or Slugar about this part please

==============

Can price be traded - when it in a channel and respecting it - hell yes

And if you want that to be your one set up - then go for it

fact - price is constantly being work both vertically.., and diagonally

Pick 1 set up - it really doesn't matter which

===========

Or do want me to see how there is no probable outcome in a single trade?

I only take my set-up. Entry, SL, Target, WRR?

yes.., and yes

=======================

Here's a classic dialogue to have with yourself

Hot damn - this setup has a 99.5% probability of working..., I'll trade it

I'm losing money - but wait..., back testing shows - this setup has a 99.5% probability of working

Now I'm losing more money - what the hell..., this setup should have a 99.5% probability of working

Dammit now I'm losing even more money - this damn setup is supposed to have a 99.5% probability of working

Fuck I blew out my account - and fuck that 99.5%

Pick any probability - it'll end up the same

I just hope you never have this dialogue (and hope as a technique sucks)

RN

I'm doing what you outlined.

"1.) Journal what you've been going through - separate out each issue - work to identify the root cause - then fix it

2.) Create a simple.., concise methodology / approach (1 set up only)

3.) Get back on sim (no since pissing money away)

4.) Trade that 1 set up - consistently - come hell or high water

5.) For each trade - create a trading plan (around that 1 set up..., for the current PA...., and for each trade) - then follow that plan to the letter till that trade is exited

WRR"

SIM comes back Monday, and I'll have my set-up chosen by Sunday night. I continue to journal and am in the douglas book.

I'm following Slugar thread. Just found Jas. I'll ask them about the choosing a set-up/journaling part of the journey.

That's a great dialogue and too don't wish that.

I'm trying hard to stay on track. I apologize if I seem all over the place.

1.) Journal
2.) One simple consistent set-up -- not it's failures etc..
3.) SIM it (I'll create individual trade plans here)
4-5) After consistency in SIM.