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Please Help.. Please
- Thread starter mrnate22
- Start date
Quote from NoDoji:
I'll endear myself further: Started out with two b/e trades followed by two losing trades. Finally, caught a couple winners to bring my day into the green. Took a break, and returned to find I'd missed a trade that would've hit a full target. This is the sort of price environment that easily frustrates those of us without 10 years of experience, and having a very strict plan with the ability to follow it is what saves us from the danger of this frustration, which is revenge trading.
I track the 1st 5 min mid/high/low and 1st 60 min high/low/close (as horizonal line plots) for the current day and also to see how they line up with yesterday's lines. When you start seeing today's lines overlapping with the prior day's session, it's better to take the money and run as back and fill tendencies will rise. Only when price moves outside of the outermost lines of the two days (which overlap or are tightly stacked) do I look for the bigger runs (i.e. > 1 pt). If there's no overlap, then you have a higher chance of price NOT going too sideways for the day.
I also key in on the distance between the 5 min midpoints between the two days to get a good heads-up on volatility. The closer they are, the more likely a majority of today's session is going sideways. Nothing to dwell on. Just takes a quick glance and over time you get a feel for it.
[Yeah, these are known as "Clayburg lines" but what I use them for has no relation to their originally defined usage. It's amazing how you can start with one person's initial concept like that and use it in ways the inventor had no idea of. Basically, if something can help me to have 5-7 tick stops on the CL with 2x-3x rewards on a 40% LT winning pct, it's got my attention.]
Quote from mrnate22:
My rules are made specifically for the strategies I use so I don't think any man-on-the street will be interested.
This is meant with respect, as regardless of my thoughts toward the methods and claims, I admire anyone who even attempts this game: with that said---
I think you clearly are exhibiting self destructive behavior. the market is the worst place for you until you understand why and get it under control although that's very unlikely.
My last post on the thread---take it as you will.
surf
Quote from marketsurfer:
This is meant with respect, as regardless of my thoughts toward the methods and claims, I admire anyone who even attempts this game: with that said---
I think you clearly are exhibiting self destructive behavior. the market is the worst place for you until you understand why and get it under control although that's very unlikely.
My last post on the thread---take it as you will.
surf
Thanks Surf..
Yes, I definitely have self destructive behaviors and so far, my strict rules have tamed it a bit.. I'll take it one day at a time..
Day 8 Experiment
Today was a short day for me cause I don't trade after the Fed announcement.
1. Missed 1 great setup - worked well.. I was pretty annoyed
2. Bought 2 mediocre setups - 1 failed and the other I made 10 cents.. I don't know why I still enter.. I can't help myself
3. Bought 1 great setup - worked well
Still breaking the rules but slightly improving..
Today was a short day for me cause I don't trade after the Fed announcement.
1. Missed 1 great setup - worked well.. I was pretty annoyed
2. Bought 2 mediocre setups - 1 failed and the other I made 10 cents.. I don't know why I still enter.. I can't help myself
3. Bought 1 great setup - worked well
Still breaking the rules but slightly improving..
http://ninetrans.blogspot.com/ 1st three rules
google id,ego and super ego, market doesnt have one, you need to shut yours off,winning doesnt make you a super star ,losing doesnt make you dog doodoo,just is what it isQuote from mrnate22:
I know I sound like a crazy guy it is what it is.. I'm still trying to figure out how to not break my rules..