Little Help Please

TheDr. · May 5, 2006

I've been missing a lot of entries over the past few weeks even though, I anticipate the Trend correctly...For example, today's employment figures came out and It was a obvious buy!!...However, my entry was 1pt short of the actual price low of the open and consequently the market traded higher without me..

This happens to me quite often..So, what is the problem and what can I do about this?....

I don't want to enter just anywhere because then it disrupts my risk parameters. Unfortunately, I end up doing nothing and missing good trades.. :mad:

sulong · May 5, 2006

Quote from TheDr.:

This happens to me quite often..So, what is the problem and what can I do about this?....

Learn what a trend is and how to recognize it.

Steve Tvardek · May 5, 2006

and dont be afraid to pull the trigger. understand you will lose sometimes but the more you convince yourself that its part of the game the easier it will be to pull that trigger when you see a good setup.

Quote from sulong:

Learn what a trend is and how to recognize it.

ElectricSavant · May 5, 2006

Doc,

Follow your system. Just sit. This is trading. Your entries will come to you. Never push for the wrong reasons.

If you change your system you will need to adjust your risk parameters. Maybe you need a fast entry and then you can scale in with slow entry...

I know this is not a revolutionary thought, but I just thought I would post it. I apologize in advance, if I am wasting your time. I do not know anything about your system, but I have looked at a few and made them better with any optimizing or curve fitting.

Michael B.

JMowery1987 · May 5, 2006

Take all the trades.

No excuse if you don't.

Read Trading in the Zone by Mark Douglas. I'm a discretionary trader and it helped me gain confidence in my trading and therefore helped me execute my trades.

Bitstream · May 5, 2006

reduce size at a level that makes u comfy takin' every single trade u feel is a winner, wathever da price'n'da spread...once u feel allright increase...slooowly.

scalper21 · May 5, 2006

Quote from TheDr.:

I've been missing a lot of entries over the past few weeks even though, I anticipate the Trend correctly...For example, today's employment figures came out and It was a obvious buy!!...However, my entry was 1pt short of the actual price low of the open and consequently the market traded higher without me..

This happens to me quite often..So, what is the problem and what can I do about this?....

I don't want to enter just anywhere because then it disrupts my risk parameters. Unfortunately, I end up doing nothing and missing good trades..

I would like to dissect your comments. First you say you are good at anticipating the trend. When I read this I get the sense that this is a "gut" or "intuitive" feel you have about the market. I get the feeling you have confidence in your ability to read the general move of the day. Do you get this feel from reading the tape(order book)? Or is this purely from a chart formation?

Then you say you missed the trade because the market didn't hit your entry point. I get the sense that you found this great entry point on a chart. Is this correct?

Why don't you share your risk parameters, and then maybe someone would be able to help you tweak your entry style.

Also how often do you trade?
Are you trying to ride the BIG Wave or take many small chunks?
What instrument do you trade?
How many contracts?

You know what would be helpful. Walk me thru this trade you missed. From the point you had a feeling that today would be an up day to you picking your entry point. The more detail you provide the easier it will be to help.

Cheese · May 6, 2006

Quote from TheDr.:
I've been missing a lot of entries over the past few weeks even though, I anticipate the Trend correctly...For example, today's employment figures came out and It was a obvious buy!!...However, my entry was 1pt short of the actual price low of the open and consequently the market traded higher without me..

This happens to me quite often..So, what is the problem and what can I do about this?....

I don't want to enter just anywhere because then it disrupts my risk parameters. Unfortunately, I end up doing nothing and missing good trades..

Futile as you stance may be, the catatonic no-hoper position is better than pulling the trigger when you are stuck at the stage of little or no understanding of what the living horsesh*t the market is doing.

independenceair · May 6, 2006

The ability to supress emotions .....welll just plain patience is a huge part of trading ...if that doesn't work scream loudly ..accuse of foul play and complain to your dog if you have one.

JMowery1987 · May 6, 2006

Quote from TheDr.:

I've been missing a lot of entries over the past few weeks even though, I anticipate the Trend correctly...For example, today's employment figures came out and It was a obvious buy!!...However, my entry was 1pt short of the actual price low of the open and consequently the market traded higher without me..

This happens to me quite often..So, what is the problem and what can I do about this?....

I don't want to enter just anywhere because then it disrupts my risk parameters. Unfortunately, I end up doing nothing and missing good trades..

Are you undercapitalized?

Do you fear losing?

I was both of those, and it had a dramatic impact on my trading.
Had to solve both.

First one was easy.... instead of losing money, start making money

Second one was not so easy, and I had to force myself to just do it. Like the Nike commercial...... JUST DO IT.