Getting my act together

Quote from EdgeHunter:

Hi Gutsy'

appreciate your thread...

One question and One Small Sharing...

<b>I. A Question... </b>

In one of your posts you said...

"I check 7 charts every 6 seconds to answer two questions… "

I would assume i would know 4...

1. Up Down Vol
2. Tick
3. Prem
4. Futures Price

do i have these right and what would be the other 3 or all 7... thanks...
More...


Here are the 7 charts (all updates on 1-6 are cutoff every 6 sec.)

1). NYSE Declining issues volume
2). NYSE Advancing issues volume
3). $tick
4). ES price in bar format
5). $prem
6). VIX
7). 30 min. ES bar w/bollinger bands at +/- 1 std. dev.


I'm not really into your diet. Looks like a So. Ca. flavor. For me I grill some skinless breast of chicken, chop it up, and mix in some nonfat mayo. Add a green salad with nonfat dressing and some fruit and I'm good to go.
 
Quote from gutsytrader:

Here are the 7 charts (all updates on 1-6 are cutoff every 6 sec.)

1). NYSE Declining issues volume
2). NYSE Advancing issues volume
3). $tick
4). ES price in bar format
5). $prem
6). VIX
7). 30 min. ES bar w/bollinger bands at +/- 1 std. dev.
More...

I combine the Up Down volume in a spread: UpVol - DownVol = VolDiff for SP500 stocks using Excel and Sierra Charts... This way It updates every 2 seconds about 3 times as fast as the NYSE Vol stuff which is updating about every six seconds i think...

<b>For the VIX</b>... does that move quick enuff to factor into your Six Second Decision Sweeps... it seems a little laggy for that... ?

cj...

:confused:

_________________
HAVE STOP <img src=http://www.enflow.com/p.gif> WILL TRADE
 
Results 10/30

Took two trades today. Both were one lots for different reasons.
First trade was a long. I took a one lot with it because the entry was below Friday's low. Trade hung around and eventually got in gear. Exited correctly with a 4.25 point profit. Second trade was a afternoon short. The market was hitting new highs but I kept seeing institutions selling after each high. I decided to give it a short shot figuring eventually the institutions would overwhelm the large specs holding the market up. I put on one lot because new highs were being hit pretty regularly. It seemed like a above average risk trade.I waited and watched the market bounce multiple times at 1384.75. After waiting over an hour I decided to give up and exited .25 below my short. Eventually the market did move lower and I missed out on a extra $100 for the day.

Net +212.92
 

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Gutsy

You are doing well. If I was you I would quit my job tonight and concentrate on trading. You have a proven system that you have confidence in.

Some people get a mentor but you should get a coach from a motivational and psychological point of view. You dont need trading knowledge but somebody to sound off and keep you on the path. Give Anthony Robbins a call :)

Wives although supportive are too sympathetic, where you need someone make you lift you game at those points.

Think how much your performance would improve if you were well rested, focused before the trading day and able to relax afterwards.

Find someone and look to take the plunge soon. It will be the best move you do.

Keep it up.
 
No trades today. Couldn't get a read on any of the movement. Now I'm exhausted and get to try and sleep while rugrats ring my doorbell. Should be another exhausting night of work.
 
Quote from gutsytrader:

No trades today. Couldn't get a read on any of the movement.
More...
That's good though. You had the mental strength to NOT force a trade if there is one. Keep it up.

I remember a couple of journal entries where you took trades just out of sheer frustration from waiting. This time I am sure you did the right thing in staying away from entering without a clear signal.

Good luck, keep up the good work.
 
October statement page 3 of 3

Summary:

21 Round turns 19 profitable for a win % of 90%
Total winning trades +1.475.00 (ave. win +77.63)
Total losing trades -62.50 (ave. loss -31.25)
Profit factor 23

Net profit including commissions +1,285.66
Ave. net profit per-contract +61.22
% of goal achieved for the month 14.3%

Obviously I'm going to need to improve pretty drastically before I can trade fulltime. It's going to take a combination of increased frequency and increased size to get close to my goal of $2,250/week or $9,000 per-month.
If the ave. trade stays at $50, I'll need to do 180 r/t's per-month or 9 r/t's per-day.
If the ave. trade moves up to say $90, then I'll need to do 100 r/t's per-month or 5 r/t's per-day.
Either way I'll need to keep pushing myself to increase size and frequency to get closer to the goal.
 

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