Need somewhere to think out loud,

[Laissez Faire]

Returning from holiday slowly, loads of nice asses very few nice boobs mind

Where is that? I'm an ass man, so I wouldn't mind.

Method decided hopefully stick to this

9sma
Env 9sma 0.04

Env 18sma 0.07

Got to tweak trades and times i trade less end of trend times.

More patience.

You seem to be changing your 'method¨' quite often. You also mentioned being bored on the weekends? Don't you have a market to study...?

Have you considered instead of learning trading by trading to actually take a time-off and develop a trading methodology by back-testing/back-checking a ton of historical data/charts?

Learning trading by one day at a time is very inefficient time use if you're not yet consistently profitable, IMO.

If you're already getting results you're happy with, perhaps I'm mistaken. In that event - please feel free to ignore this post.

 

[Turveyd]

Where is that? I'm an ass man, so I wouldn't mind.



You seem to be changing your 'method¨' quite often. You also mentioned being bored on the weekends? Don't you have a market to study...?

Have you considered instead of learning trading by trading to actually take a time-off and develop a trading methodology by back-testing/back-checking a ton of historical data/charts?

Learning trading by one day at a time is very inefficient time use if you're not yet consistently profitable, IMO.

If you're already getting results you're happy with, perhaps I'm mistaken. In that event - please feel free to ignore this post.

Cyprus, got to get all the video's of asses of my phone shortly.

Studying isn't the issue, it's Live market time, making decisions live, when to take or not take that's the issue.

I'm profitable 50% of the time and Sucky the other 50% of the time, so the methods work although still trying to pin down what's best.

Trying to solve why the Sucky, which I think I know understand but doing it, is ofcourse tricky.

Basically, trading casually see a nice trade come up, all fine, but when it's must make $$$'s mode, I see trades that aren't there, fear of not making money ends up with me taking losing trades and losing money instead, just need to slow it down wait for setups to come to me.

So fews days/weeks/years and it'll be sorted

 

[kaizer]

Turveyd,

I have the idea how to correct 50% suck time to.... may be 30%. Good deal?
You ride momentum, so chop should be your enemy

try this if you want -
=========================

1 min is chart you are trade off (correct me if I'm wrong)
open 5 min chart - this will be your master/anchor chart - and keep all indicators on this chart off but 20EMA
you have to try 5-10 minutes as master chart and find what works better (and keep it, do not change every week

study this thread
https://www.elitetrader.com/et/threads/help-ive-been-chopped.277421/

post #12 is collection of anti-chop filters

use all filters to filter the potential chop. Mark chop zones on the master chart and you will see that 80%+ of price action is marked as potential chop. Focus of the remaining 20% or so price action, go down to your 1 min and use your method ONLY for these periods.

probably you will see how 50% sucking transforms into 20-30 which is ok for profitable trader

good luck!

 

[Turveyd]

Turveyd,

I have the idea how to correct 50% suck time to.... may be 30%. Good deal?
You ride momentum, so chop should be your enemy

try this if you want -
=========================

1 min is chart you are trade off (correct me if I'm wrong)
open 5 min chart - this will be your master/anchor chart - and keep all indicators on this chart off but 20EMA
you have to try 5-10 minutes as master chart and find what works better (and keep it, do not change every week

study this thread
https://www.elitetrader.com/et/threads/help-ive-been-chopped.277421/

post #12 is collection of anti-chop filters

use all filters to filter the potential chop. Mark chop zones on the master chart and you will see that 80%+ of price action is marked as potential chop. Focus of the remaining 20% or so price action, go down to your 1 min and use your method ONLY for these periods.

probably you will see how 50% sucking transforms into 20-30 which is ok for profitable trader

good luck!

Obviously I'm never going to get to 0% suck, but when I'm good it's damn near 100% good, then when bad damn near 100% bad.

Trying to make Chop and direction my friend.

Too literal on method is another issue, market nears 0.07% low go long for bounce, but it's going down so obvs straight to SL, got to worry less about missing a trade and wait for a few mins of pause around that price to improve odds it'll bounce, ie not catch a falling knife.

Back on it this week, kinda told the gf, I've got this and closed company down a few months back, had zero time to trade since so starts in anger this week. Got 2 - 3 months with cash in reverse to crack this or give up and get a job

 

[Turveyd]

Tomorrow is full time pretty much, time to start taking this seriously and not trying other setups and learning some patience both entry and letting it run exit wise.

I can bat a 80%+ win rate when I'm in the zone and not rushing trades, 90% lose rate when out of the zone and rushing.

Wait for Strength in my direction and then enter.

Stick to single position, multiple just creates to much of a throw in an order here rather than risk losing a trade, then another, then ohhh crap that hurt.

Many lessons have been learned, time to start applying them!!

 

[Laissez Faire]

Studying isn't the issue, it's Live market time, making decisions live, when to take or not take that's the issue.

I'm profitable 50% of the time and Sucky the other 50% of the time, so the methods work although still trying to pin down what's best.

IMO, you should not be making too many decisions live. There should be a minimum of 'interpretation'.

Your thinking and planning should be done pre-market and/or in back-testing/development.

Live trading should ideally be just execution of your trades/signals. No thinking.

If condition X is satisfied; Go long/Short.

In my humble opinion of course.

Since you seem to be using a system with MAs - is that not something which could be completely automated?

 

[Turveyd]

IMO, you should not be making too many decisions live. There should be a minimum of 'interpretation'.

Your thinking and planning should be done pre-market and/or in back-testing/development.

Live trading should ideally be just execution of your trades/signals. No thinking.

If condition X is satisfied; Go long/Short.

In my humble opinion of course.

Since you seem to be using a system with MAs - is that not something which could be completely automated?

Agreed, complicated got removed a long time ago.

Automated the SL which moves, maybe entry, but no way to automate TP, some times holding for 30pts others its dead at +3.

 

[kaizer]

Obviously I'm never going to get to 0% suck, but when I'm good it's damn near 100% good, then when bad damn near 100% bad.

Trying to make Chop and direction my friend.

momentum and chop requires separated plans
it is not possible to trade one plan in any context
one plan for any market conditions = 'holy grail' which does not exist

 

[Turveyd]

momentum and chop requires separated plans
it is not possible to trade one plan in any context
one plan for any market conditions = 'holy grail' which does not exist

Got to Disagree, Momentum has chop just with a directional bias, sideways chop merely has a range increase.

Plan is, I trade the Chop Range with Direction if there is 1, both sides if none, if it chops I profit, if it trends my way I profit hopefully more, if the direction changes then ofcourse I lose.

Tricky part is, waiting for a good setup and the setup to confirm before entering and missing loads of good setups that don't quite confirm and then not getting gambly and entering to early.

 

[Turveyd]

Here is a chart of how I trade and the numbers explaination at those points.

1. Pull back in an uptrend, join long using 9's 0.05% range.
2. Same as 1 using the 9's 0.05% range, direction changed so loss.
3. 9's outter range also the 16's range and direction down, so short and profit.
4. Cluster, reversal likely play long with a tight SL incase fake.
5. Joining the 16's uptrend with the 9's range.

Using Range to get a better price with direction, more upside potential, tighter SL's.

GRAIL, if I can get the last few mental issues mainly worked out.