Gee, I wish I could trade in real-time

[Redneck]

Quote from Trader.Fighter:

Consolidation, which means using a stop based on where the noise is occurring could be counter-productive as you would get stopped without any meaningful action movement.

How many times would it take being stopped out before you say - ah haaa

price ain't doin this

What price isn't doing - is as important as what price is doing


==============
btw;

How do you differentiate (and define) chop - from - consolidation - from - trade-able range or your trading TF


RN

 

[jamespond]

Quote from vinc:

actually, what stops you ??

excellent journal except one thing:

http://en.wikipedia.org/wiki/Hindsight_bias

once it's there you can't call it objective and if it's not objective - it sucks..
BIG TIME !

I have to disagree strongly here (about it sucking big time ) And this for the following reasons:


a) I think you missed the subtle sense of humour the OP put in the title of his journal.

b) Although this thread is only a couple of posts long, you obviously didn't read them all (see what the OP did on 08/02)

c) Perhaps the most important reason. I don't get why, Oh why..., when something is not posted in realtime - the next second of course after an entry occured - that it should not be worth reading or discussing. There's this whole "post real-time or you're a fake" crew here that keeps on demanding this from people.
Those people should ask themselves the question whether they like someone to throw them a fish from time to time (which might be rotten) or whether they would actually learn how to fish themselves.
Not to mention the fact that the first sentence of this journal is -> "Here you will occasionally find price action trading notes and ideas, in hindsight of course."


After reading ET for a while, you make an assesment of who are the real traders, the value adders, the bullshitters, the trolls, the haters, the people looking for a fight, even the people giving dangerous advice etc...
But that is something that each person has to do for himself, just as you have to do your own DD and trading research. And posting real-time calls or not is not a good criteria for this assesment.

All in my humble opinion of course

JP

 

[Redneck]

Quote from tiddlywinks:

I followed my plan. That by itself makes it a good trade. Risk was defined, I picked my entry, managed risk as necessary, picked my exit, and made profit. I shake my head with a lopsided grin thinking about it though. But am I going to change my eod procedure? No. Am I going to rethink my setups? No. Will the same thing happen again? Probably, since Im not going to change a thing because of a pinch of "bad luck". Do I "know" that what I do and the way I do it works? Yuup.

This pretty much says it all

RN

 

[NoDoji]

Quote from Trader.Fighter:

All very true and vocational but how does your plan avoid "Death by a thousand stops" while not missing moves by limiting the number of re-entries ?

My plan avoids "death by a thousand stops" because it's based on careful study and was proven in advance through backtesting and simulated forward testing to provide me with an acceptable profit over each acceptable series of trades.

With the OP's approval, it would be interesting to see a post of a chart where someone got stopped out several times trying to catch a significant move. Otherwise, we can start a new thread to address this oft-lamented problem.

 

[NoDoji]

Quote from Trader.Fighter:

Consolidation, which means using a stop based on where the noise is occurring could be counter-productive as you would get stopped without any meaningful action movement.

I don't position during consolidation unless price sets up a tease or a squeeze play on the 1-min chart. I wait for a break out of consolidation, which can be a narrow range or narrow channel (flag), or a triangle, and then I look to enter in the direction of the breakout if, and only if certain conditions are met.

Positioning during consolidation of any kind is a high risk environment for getting stopped out more than once, which is so disheartening that the trader usually gives up and doesn't even put on the trade that finally runs.

 

[NoDoji]

Quote from jamespond:

There's this whole "post real-time or you're a fake" crew here that keeps on demanding this from people.

Ain't that the truth. The charts I posted here were exactly what I was looking at in real time, but because they were posted later, it's hindsight, lol!

 

[Trader.Fighter]

Quote from NoDoji:


Positioning during consolidation of any kind is a high risk environment for getting stopped out more than once, which is so disheartening that the trader usually gives up and doesn't even put on the trade that finally runs.

Does that mean you only trade trending states or breakouts out of consolidations?

 

[NoDoji]

Quote from Trader.Fighter:

Does that mean you only trade trending states or breakouts out of consolidations?

I trade one tactic during a well defined trend, and I trade the tactic described in this thread following a break out of consolidation. I have advanced tactics for scalping in wide range bar chop and in a directionless (wide range) market, but that's beyond the scope of what I would discuss on a trading forum.

 

[tiddlywinks]

I go out for the day and come back to a lively journal! Wow!
Before I really read the posts, I gotta square a few things right away...

Quote from vinc:

actually, what stops you ??

excellent journal except one thing:

http://en.wikipedia.org/wiki/Hindsight_bias

once it's there you can't call it objective and if it's not objective - it sucks..
BIG TIME !

I am a trader. Futures. Nearing 10 years. The Journal title is sarcasm directed at the real-time only, do a combine, PA/TA bashing Elitists amongst us.

Welcome vinc!

Quote from jamespond:

I have to disagree strongly here (about it sucking big time ) And this for the following reasons:


a) I think you missed the subtle sense of humour the OP put in the title of his journal.

b) Although this thread is only a couple of posts long, you obviously didn't read them all (see what the OP did on 08/02)

c) Perhaps the most important reason. I don't get why, Oh why..., when something is not posted in realtime - the next second of course after an entry occured - that it should not be worth reading or discussing. There's this whole "post real-time or you're a fake" crew here that keeps on demanding this from people.
Those people should ask themselves the question whether they like someone to throw them a fish from time to time (which might be rotten) or whether they would actually learn how to fish themselves.
Not to mention the fact that the first sentence of this journal is -> "Here you will occasionally find price action trading notes and ideas, in hindsight of course."


After reading ET for a while, you make an assesment of who are the real traders, the value adders, the bullshitters, the trolls, the haters, the people looking for a fight, even the people giving dangerous advice etc...
But that is something that each person has to do for himself, just as you have to do your own DD and trading research. And posting real-time calls or not is not a good criteria for this assesment.

All in my humble opinion of course

JP

jamespond gets it!!

Quote from NoDoji:

Ain't that the truth. The charts I posted here were exactly what I was looking at in real time, but because they were posted later, it's hindsight, lol!

And the long-legged NoDoji just knows!

Quote from NoDoji:

...
With the OP's approval, it would be interesting to see a post of a chart where someone got stopped out several times trying to catch a significant move. Otherwise, we can start a new thread to address this oft-lamented problem.

NO PROBLEM! But here's "the thing" ...
And this is not directed at anyone or any particular topic that anyone wants to open and discuss.

I am the OP. If in MY opinion things get out of hand or way off of at least a tertiary relationship to trading I will make a post. If nonsense continues, **I** as OP will officially call the thread closed, whether or not the ET henchman mark it as closed or not. Now everyone knows exactly what needs to be done to get rid of me. :eek:

 

[satchel]

It's all very alluring when one is not in the shat-your-pants moment and putting dollars/risk on the line isn't it.

don't have to do a combine, but could post a live call?
otherwise it is all monday-morning-quarterback-armchair-mental-you-know-what-five-ways-to-sunday.

the price action purists get another excuse to have their hindsight charts finery displayed.

meh, if it goes that way.