Following your rules and being patient journal

Quote from fearless9:

I am not comparing TF's, I am talking about vol bars.
Basically the market marches to price levels and volume. Whether this process occurs at this time or that time is of no consequence.
for instance, do you check your watch when executing an order?
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No, I do not check my watch but my trading platform timestamps all orders when I place them on the DOM.

I see now what you are saying... I changed my chart setup to volume based bars and it is a little different.... something to think about...
 
Quote from brownsfan019:

No, I do not check my watch but my trading platform timestamps all orders when I place them on the DOM.

I am not following where this is headed... :confused:
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It is heading to volume/price, not time.

Accumulated trades on the ask will either drag the price up or it will not, in which case you will get a good move south.

accumulated hits on the bid will drag the price down or it will not, in which case the longs will enjoy a good move.

Volume/ price is a clearer basis for trading rather than price/ time.

But each to their own. There are many ways to trade profitably.
I was only offering a different chain of thought, in response to your thread.

The level that you find yourself on is typical of progress. One way or another I am sure you will break through it.
 
Quote from fearless9:

It is heading to volume/price, not time.

Accumulated trades on the ask will either drag the price up or it will not, in which case you will get a good move south.

accumulated hits on the bid will drag the price down or it will not, in which case the longs will enjoy a good move.

Volume/ price is a clearer basis for trading rather than price/ time.

But each to their own. There are many ways to trade profitably.
I was only offering a different chain of thought, in response to your thread.

The level that you find yourself on is typical of progress. One way or another I am sure you will break through it.
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fearless - thank you for this info...

Question - do you have any website links that breaks this down more that I can look at?

For example, I like to trade on a 3 minute chart. How many contracts would I set my template to so that it moves similar to this timeframe? Not sure I said that right, but I just like the smaller timeframes, but can see the added value of a volume bar.

Thanks for any help!!
 
Quote from brownsfan019:

fearless - thank you for this info...

Question - do you have any website links that breaks this down more that I can look at?

For example, I like to trade on a 3 minute chart. How many contracts would I set my template to so that it moves similar to this timeframe? Not sure I said that right, but I just like the smaller timeframes, but can see the added value of a volume bar.

Thanks for any help!!
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Sorry BF I have to dash for a few days.
There is plenty of info on vol bars on ET and the net.
Chase up ProLogic, his argument opened my thinking.
I think we all struggle with this one.
" Stay focused with an open mind"

Dont worry, it has me buggered at times as well.
 
Quote from brownsfan019:

Example: I could get a setup on the ER2 and let's say my profit target is 2.4 points on this trade. My max loss is .8 pts. After the trade moves 1.2 points in my favor, I may watch the P&L and see around $1000 on this trade. Then, the ER2 comes down a bit and I watch my $1000 gain turn into $200 rather quickly. The immediate reaction I had was to flatten for fear of it going down even further and turning this into a losing trade. Now, what will happen A LOT is that I will flatten, this quick little retracement takes me out, and then continues into the direction of the profit target and hits the profit target. All of a sudden I have turned a profitable 2.4 ER2 trade into plus 2 ticks before commissions. Obviously this is frustrating on so many levels.
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This is me. Absolutely me. And it drives me nuts. I did it again today. Entered an ER2 short at 795.7 at 1:00:25pm CST. It went a bit against me but then came back for a bit of profit. It then bounced back up reducing my paper profit and I exited at 795.5 at 1:08:26pm CST for a whopping 2 tic profit.

It then flopped around a bit (but never coming close to my initial stop) then fell to a low tic of 794.1 or 16 tics.

And I took only two tics out of it.

Cause I watched the DOM too.

Time to let the preentered orders in NinjaTrader do its job!
 
Quote from steve0617:

This is me. Absolutely me. And it drives me nuts. I did it again today. Entered an ER2 short at 795.7 at 1:00:25pm CST. It went a bit against me but then came back for a bit of profit. It then bounced back up reducing my paper profit and I exited at 795.5 at 1:08:26pm CST for a whopping 2 tic profit.

It then flopped around a bit (but never coming close to my initial stop) then fell to a low tic of 794.1 or 16 tics.

And I took only two tics out of it.

Cause I watched the DOM too.

Time to let the preentered orders in NinjaTrader do its job!
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Welcome to the group Steve. Everyone, say 'Hi Steve'. I am the founder of this T.H.A. - Trigger Happy Anonymous. Don't worry, you can feel comfortable here and nothing will leave this room.

:D

So far, it has really helped that I don't see any P&L's while trading. You may want to try this as well OR like you said, let NT do what you are paying it to do...
 
Quote from brownsfan019:


So far, it has really helped that I don't see any P&L's while trading. You may want to try this as well OR like you said, let NT do what you are paying it to do...
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I took off the $ P&L and just have the tic P&L. What I've got to do is adjust the target and stop, then just stand up and let it work. I either win or I lose, but not short change it.

Easy said than done. Ever see 'Boiler Room'? When he was learning, Giovanni Ribisi asked his closing question on the phone and his coworkers smashed their hands across his mouth so he wouldn't talk until the prospect responded...

That's the concept I need to develop.
 
Quote from steve0617:

I took off the $ P&L and just have the tic P&L. What I've got to do is adjust the target and stop, then just stand up and let it work. I either win or I lose, but not short change it.

Easy said than done. Ever see 'Boiler Room'? When he was learning, Giovanni Ribisi asked his closing question on the phone and his coworkers smashed their hands across his mouth so he wouldn't talk until the prospect responded...

That's the concept I need to develop.
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I agree, we are both in the same boat here. Just need to set your stop and profit and let it go. Either you win or lose, but all your winners actually reach their potential. 2 ticks is not going to cut it!!
 
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