Need somewhere to think out loud,
- Thread starter Turveyd
- Start date
Trading STUPID STUPID STUPID STUPID STUPID!!!!!!!
Back to DEMO for a long long while, well rest of day / Monday!!
Method, need to settle, need tight good SL management.
Put the Auto SL back in with moving SL at Env 8 0.07% so I can't do stupid trades.
Method is ............
8sma
Envelope 8sma 0.03 and 0.06.
Logic, simplistic as fuck, I just on the 8's direction, preferably shortly after a direction change, I stress if 8 is going up, I'm looking for longs and vice versa.
SL will auto track and follow and desired point.
Not going to attempt anything more intelligent than this at all.
Nearly at the quiting stage today I can assure you.
Back to DEMO for a long long while, well rest of day / Monday!!
Method, need to settle, need tight good SL management.
Put the Auto SL back in with moving SL at Env 8 0.07% so I can't do stupid trades.
Method is ............
8sma
Envelope 8sma 0.03 and 0.06.
Logic, simplistic as fuck, I just on the 8's direction, preferably shortly after a direction change, I stress if 8 is going up, I'm looking for longs and vice versa.
SL will auto track and follow and desired point.
Not going to attempt anything more intelligent than this at all.
Nearly at the quiting stage today I can assure you.
Make it 10 and 0.04 and 0.07 based.
SL Min 6 Max 8 lets keep it tight and lets do some back testing while I watch live to.
No discipline what so ever, need to learn discipline or I'm stuck repeating my mistakes over and over again.
Back test then town and gym and swim and punish myself, never trade on a friday cause on a friday I'm always half assing it, cause I just don't care at all!!
SL Min 6 Max 8 lets keep it tight and lets do some back testing while I watch live to.
No discipline what so ever, need to learn discipline or I'm stuck repeating my mistakes over and over again.
Back test then town and gym and swim and punish myself, never trade on a friday cause on a friday I'm always half assing it, cause I just don't care at all!!
2nd oct dax 10am gmt start
S 12138, turning exit 41 -3
L 12139, exit +10
missed massive sell off no safe entry
S 12116, +7
That and next day it appears to work, win rate 60% but allows micro management of losses and gets some good runs.
It's about adapting, what's the 10's direction, it's changed okay I'm on the wrong side, time to bail and flip or SL will likely get hit.
Live -65pts today Ouch!!!
Demo new method already +40 typical!!
Right lets train myself on demo to trade this, only this and trade this so damn well, I never have a bad live day again
Switch to 10Ema based, same 0.04 and 0.07
If I'd of held my 4 positions of NQ long I'd be +40 * 4 = +$160 LOL
S 12138, turning exit 41 -3
L 12139, exit +10
missed massive sell off no safe entry
S 12116, +7
That and next day it appears to work, win rate 60% but allows micro management of losses and gets some good runs.
It's about adapting, what's the 10's direction, it's changed okay I'm on the wrong side, time to bail and flip or SL will likely get hit.
Live -65pts today Ouch!!!
Demo new method already +40 typical!!
Right lets train myself on demo to trade this, only this and trade this so damn well, I never have a bad live day again
Switch to 10Ema based, same 0.04 and 0.07
If I'd of held my 4 positions of NQ long I'd be +40 * 4 = +$160 LOL
Discipline without trading strategy is as useful as a car without engine
Ahhh wrong, my car has no engine and hole in the floor
Think when I first joined I was trading this ran account up from low to 10K then lost discipline and 4years later LOL doing pretty much this, micro managing and trading short term direction.
Got gambly and bored and tried playing before markets cooled off main error.
Fridays, never trade them !!
Wrong? Hmm...
About 15-20 years ago some guy (do not remember his name, probably the autor of 'Market Wizards', but it's not 100% and not important) interviewed about 100 successful big traders about their trading principles. These traders represent very different styles - different timeframes from scalpers to long term positions, different markets and so on, but 2 principles was in intersection of all 100 traders:
1. have well tested trading plan, written on paper, and stick to it without exeption
2. control and limit your risk
I believe that these 2 principles are rock solid and should be respected by every trader.
About 15-20 years ago some guy (do not remember his name, probably the autor of 'Market Wizards', but it's not 100% and not important) interviewed about 100 successful big traders about their trading principles. These traders represent very different styles - different timeframes from scalpers to long term positions, different markets and so on, but 2 principles was in intersection of all 100 traders:
1. have well tested trading plan, written on paper, and stick to it without exeption
2. control and limit your risk
I believe that these 2 principles are rock solid and should be respected by every trader.
Ignore the written on paper, don't own a pen and can't read my own hand writing anyway.
Got the plan, only quick tested it on back data but it'll work with a bit of when not to trade it experience.
Plan is :-
1. Take position on a small pull back and/or pause with the 10sma's direction, near the Mid point or in the 0.04% area, lower if long and vise versa. ( best educated guess )
2. if 10ema changes direction after entry, at a enter rule point, exit and flip position. ( in profit or at a loss )
3. SL at the 10sma 0.07% range ( Min 6pts at open, Max 8 ) ( provided by EA and Trails to reduce risks, in place already )
4. Hold until, varying on market conditions.
Weak. Take profit near 0.07%
Strong, Hold until 10sma changes direction ie rule #2 to flipping sides.
5. Max 2 positions open at once, so Averaging down is allowed, 1 Mid, 2 0.04 area.
6. Direction determination, using a 15sma as a 10sma cross to determine direction, filters direction change a bit and objective.
7. Repeat till rich or dead.
That is the plan, best I can put it into words, I will price and stick to the case on my computer if that makes you happy LOL
Discipline, well when it's real $$$'s and the market is going wild and I've had a few losses and start switching of EA butt protection and getting gambly well, that's the issue here.
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