jasinhbca's quest for discipline, knowledge & profits

[Handle123]

Done for day. Too bored to continue. NQ in choppy range. Mid morning I looked at CL and saw I missed some good trades. that's fine I hadn't intended to trade it. But decided to keep an eye on CL since NQ was looking range bound.

+20 ticks in CL on 4 trades. no NQ trades today.

Acknowledged some uncomfortable feelings (it's not moving get out !) and stayed in and managed trades well.

No major mistakes this week !

As I mentioned before I was feeling burned out. Now feeling good. I want to get back into setting process goals and pushing myself on my weak areas. Will work on that this weekend.

Thanks again RN and nodoji for your comments Monday. It really helped me. And thank you Handle for all your advice and charts.

Have a good weekend traders !

Jas, Making it through this week and no major problems speaks huge for your work and RN's working with you to be advising you daily, you get into the charts and showing your back testing has paid off doing it for few years, but don't be jumping around like dog happy to see fresh bone, Next week is start of a new week like those that will come after, and after awhile it becomes a job like punching a time clock, it is not like to get sick of doing it, it just becomes more of work of just showing up wanting to do it less time. Congrats and enjoy your weekend.

@Handle123

Sorry if you perceive me as a pain is the ass/arse .......just super eager about your method

It is just a very small part of trading, and you showing not much of back testing and working on that. You need to take months/years to get to where Jas has, put on the work, anyone can entry, it is what you do before and after non-entry or entry that shows profits or losses. And yea, you getting under my skin. I don't have the patience like RN and why I never worked with newbies, don't have patience of saying the same thing hundred times, I have often thought when I did teach of sticking cattle prod up their a*** and if they asked same bloody question hitting a button and ZAPP.

When you start a journal, that be next time I will chat with you.

 

[zbestoch]

Have named them in previous posts, look it up.

I look back to my first reading of chapter 8, "Introduction to Mechanical Trading Systems," in Hill's Ultimate as a turning point for me. An understanding of his explanation of the distinction between a "mechanical trading system" and a "trading tool" would benefit more than a few would-be traders based upon what I have read here at ET over the last few months. Appreciate the experience and market wisdom that shines through your posts @Handle123

In addition to the books by Hill you recommended, I'd add Stanley Kroll's On Futures Trading Strategy. Among veterans out there, I am not alone in having benefited greatly from having been exposed to Kroll's work during the my struggling years.

 

[Iwilldoit]

Jas, Making it through this week and no major problems speaks huge for your work and RN's working with you to be advising you daily, you get into the charts and showing your back testing has paid off doing it for few years, but don't be jumping around like dog happy to see fresh bone, Next week is start of a new week like those that will come after, and after awhile it becomes a job like punching a time clock, it is not like to get sick of doing it, it just becomes more of work of just showing up wanting to do it less time. Congrats and enjoy your weekend.


It is just a very small part of trading, and you showing not much of back testing and working on that. You need to take months/years to get to where Jas has, put on the work, anyone can entry, it is what you do before and after non-entry or entry that shows profits or losses. And yea, you getting under my skin. I don't have the patience like RN and why I never worked with newbies, don't have patience of saying the same thing hundred times, I have often thought when I did teach of sticking cattle prod up their a*** and if they asked same bloody question hitting a button and ZAPP.

When you start a journal, that be next time I will chat with you.

Handle123

I sincerely apologize for any inconvienience, that was obviously not my intention.

I have backtested your method (slight variation of) where N=99, and will continue to b/t another two multiperiod samples each with N=90.

Will you ZAPP my anus if I ask a question I did not ask before?

Thank You and sorry.

IWDI

 

[Handle123]

I found Stanley Kroll more of a good read than much of learning anything to add to what I already know. I prefer to be entertained when I read than pages of stats that make little sense. When I studied under Toby Crabel, he ran tests all day when he wasn't advising Cattle trader on trendlines and fibs, but most of Crabel's work was done without regard of some type of trend, so a book of very randomness, I have six of his books. I doubt he ever thought his one book would have limited edition. It is one thing to trade a Mechanical system and another to make it your own, and just having entry rules is just a small part of having Trading Plan. It is far better to be smart than lucky, cause we all make errors and if you took the trade as per your rules but didn't check you buying into resistance, you should have a little time to snag a little profit whereas those who are lucky, that can run out. I think everything within trading is "trading tools" including price, you watch for patterns to predict next actions.

The biggest problem when people buy Trading systems is they don't normally have the skills to adjust it each month(s) or stop trading it altogether, they fall into thinking it will work forever but volatility changes or markets get flat for months.

Good hearing what has helped you.

 

[Alpha Trader]

Handle123

Will you ZAPP my anus if I ask a question?

Post of the Month on ET! :eek:

 

[Redneck]

Jas, Making it through this week and no major problems speaks huge for your work

Agree last week was a test - a big test - and you passed it J


Aside;

Right before our eyes..., we're witnessing the rarest of the rare - a person emerging as a real trader

(Shit that does my heart good)


Okay J - now..., it what you do tomorrow (and the tomorrows that follow) - that count

We are paid on how we perform - not how we performed

but don't be jumping around like dog happy to see fresh bone,

Next week is start of a new week like those that will come after, and after awhile it becomes a job like punching a time clock, it is not like to get sick of doing it, it just becomes more of work of just showing up wanting to do it less time.

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

Tomorrow / next week

Till the environment changes - assume nothing has changed - so let's just plan on tomorrow/ next week being tough ass trading


Tomorrow (specifically) will be a "positioning" day..., as Tuesday institutional money comes in

Let's see if we get an indication EOD Monday - whether they plan utilizing Tuesday as liquidity (sell into it)..., or wind in the sail (buy into it)

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

Setting above aside; we know Monday's are a bitch in and of their self

Take the necessary time today..., to mentally prepare - and the necessary time tonight..., to properly rest

Ya done good..., but that is behind you

You must do good / keep doing good (which is no where close to doing / being perfect - screw that)

Else I may take H123's suggestion and gets me one of dem cattle prods (and trust me..., I do know how to use one )

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

More tests ahead my man - take each as it comes - work through it - move on

And most importantly; Have fun!!!!


You started with a dream..., evolved that dream into goals..., worked to achieve each goal - and now..., that dream is emerging as reality

Don't get no better imo


Always - head down..., moving forward..., taking each (day/ trade / test/ whatever) one at a time


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

btw..., there's a Vet supply right down the road - it wouldn't take much

http://www.ebay.com/sch/i.html?_nkw=electric+cattle+prod


RN

 

[Iwilldoit]

Have named them in previous posts, look it up.
Oh no, am not Don in the least not even close to bullshit he could put up, I reach points of me talking to people and then I put them on Ignore when I think they are becoming a pain in arse. Don maintained a business, perhaps why he answered as he did, I don't know. Start doing back testing and put in a year's worth of back testing and learn bar by bar. You learn by studying only, trading can't be taught, way too much in risk and money management to memorize. Do a journal and work at it for years till you get real good instead of losing much money. Duration of winning trades is key for me, where is safe number of times to lock in 1-2 ticks after how many minutes. Winning trades-check how many ticks trade went against position to form idea of protective stops, find how much in ticks you can nail at least 25% of the time of a full winner, 25-55% of time you will make a tick on most day trading methods. Learn patterns, volatility amounts, steepness(dropping/rising quickly swing amount) that when backtested shows when you should not take signals.

yep, swing length, very good grasshopper. And today's swing length I used what was last ten days before the volatility started as a way to reduce risk and trades. I simple will not day trade when volatility is high, can't do size without have excessive extended risk and even though it looks like much volume being done, stops have sizeable slippage, I only day trade when markets are more controlled.

I am done, time for Starbucks.

OK so ACTION STEPS:

1. Continue manually backtesting H123's model
2. Learn to identify the major price patterns (H&S, Triple Tops/Bottoms)
3. Start a journal (Once I have performed another 200 trades of backtesting with two multiperiod samples)
4. Sim trade, sim trade, sim trade
5. Read The book by John Hill
6. Take the Al Brooks PA course
7. Do the bar-by-bar exercise that H123 recommended
8. Perhaps learn the basics of Elliot Wave

Any other items to add to the list?

@Handle123

 

[jas_in_hbca]

Btw congrats on your excellent development as a trader...you seem to be a great trader in your own right

Thank you but far from great. Just doing what we're all doing here; studying, learning , trying to improve.

OK so ACTION STEPS:

1. Continue manually backtesting H123's model
2. Learn to identify the major price patterns (H&S, Triple Tops/Bottoms)
3. Start a journal (Once I have performed another 200 trades of backtesting with two multiperiod samples)
4. Sim trade, sim trade, sim trade
5. Read The book by John Hill
6. Take the Al Brooks PA course
7. Do the bar-by-bar exercise that H123 recommended
8. Perhaps learn the basics of Elliot Wave

Any other items to add to the list?

The Hill book has the basics of Elliot Wave theory (EWT). I've made profitable trades strictly using EWT but I wouldn't recommend it and it's not part of my plan now at all. Too subjective and better methods out there.

Al Brooks is very difficult. Read Bob Volman instead, IMO.

You're not ready to sim trade until you come up with a Trading plan. Lots of ET posts about trading plans. Go back a year or two in my journal and read everything by Redneck. Also Nodoji, handle and KDASFTG.

If you keep testing the Handle method you may find you don't even need the other books.

GL.

I'll look forward to seeing your journal.

jas

 

[jas_in_hbca]

Agree last week was a test - a big test - and you passed it J


Aside;

Right before our eyes..., we're witnessing the rarest of the rare - a person emerging as a real trader

(Shit that does my heart good)


Okay J - now..., it what you do tomorrow (and the tomorrows that follow) - that count

We are paid on how we perform - not how we performed




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

Tomorrow / next week

Till the environment changes - assume nothing has changed - so let's just plan on tomorrow/ next week being tough ass trading


Tomorrow (specifically) will be a "positioning" day..., as Tuesday institutional money comes in

Let's see if we get an indication EOD Monday - whether they plan utilizing Tuesday as liquidity (sell into it)..., or wind in the sail (buy into it)

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

Setting above aside; we know Monday's are a bitch in and of their self

Take the necessary time today..., to mentally prepare - and the necessary time tonight..., to properly rest

Ya done good..., but that is behind you

You must do good / keep doing good (which is no where close to doing / being perfect - screw that)

Else I may take H123's suggestion and gets me one of dem cattle prods (and trust me..., I do know how to use one )

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

More tests ahead my man - take each as it comes - work through it - move on

And most importantly; Have fun!!!!


You started with a dream..., evolved that dream into goals..., worked to achieve each goal - and now..., that dream is emerging as reality

Don't get no better imo


Always - head down..., moving forward..., taking each (day/ trade / test/ whatever) one at a time


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

btw..., there's a Vet supply right down the road - it wouldn't take much

http://www.ebay.com/sch/i.html?_nkw=electric+cattle+prod


RN

LOL

Having fun while trading is still a new idea/ experience for me. There's that 'stayed focused/pressure to follow plan' mindset that overrides the relax and have fun approach. But certainly I can do both and will try.

Agreed. Last week is history. A new week of patience and focus.

Last week I focused on sitting through the uncomfortable feeings in the trade. This week focused on the uncomfortable feeling on taking trades. A lot of my entries are easy to take mentally but there are still valid trades I miss. Sometimes they come too quick after another trade so I hesitate not wanting to over trade I suppose. Not sure cause there have been times where I easily go from one valid trade to the next. Anyway, that's what i'll be aware of; to take more valid trades and ignore emotions. Along with all the other parts of the trade.

Yes, feeling more and more like a trader. Still have some milestones and goals I want to achieve before I feel I've completely earned the title though.

Thanks RN

and Handle.

jas

 

[Handle123]

Sometimes trading can be fun when everything you have worked at in back testing and study pans out. My favorite trades often are failures, price, Bollinger bands(prior posts) and volume. And I like No Doji's "Traps", which are often failures of some type. It is where the market sticks it to the uneducated. Yea baby.