Price Action Swing Trading Futures on Sim Journal

zghorner said:
what you quoted is misleading. It reads like i was grinding in front of the screen day in and day out for 2 years straight and that's not true...more like:

work to put something together and test it -> trade it -> lose money -> stop trading for a bit -> research new ideas -> put something together -> etc...

I never really got a system locked down. one week I could enter on momentum and get enough follow through to make something...the next i found myself getting stopped out nonstop. went through several methods but it all just ended in frustration.

HERE is an example of some of the stuff i was doing during this time. I remember that week well...i remember the week that followed even better where I made some of the most common, basic mistakes possible in trading and gave most of that money back. I am good about keeping a trade journal, notebooks full of ideas and tracking results, ex: View attachment 348252

this is what supreme frustration looks like lol:
View attachment 348253


Also, backtesting for setups is deceptive most of the time IMO...lots of pitfalls i became aware of when doing it by hand. live price movement makes it difficult to see setups that are plain as day in hindsight viewing static bars...or what looks like a setup live is a trap as you enter on a beautiful trending bar that turns into the ugliest doji of all time. I think this is especially true for intraday.
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Nice recording.
I used to have a similar recording too.
I recorded tons of emotional stuff too.



After some time, you will realize trading is more of an art rather than a science,
and 6th is needed.
I learned this from my futures trading coach who only taught 1 class;
when his confidence was high, he'd trade in a huge quantity.
 
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zghorner said:
dont give away the whole store buddy. start a trading course and charge people $1,000 for that post. all you need is 1,000 pupils and boom...a million bucks. easy for you.

"sign up today for the great PaduTrader's course. 20 years experience. Expert in the art and science of scalping".
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brooks confused me so much that i forgot the trader's bread and butter: break outs and even better failed breakouts.. the latter traps traders
 
never take first counter trend entries: those will fail; fade them!

if you follow this simple rule you will avoid half your losses

and keep an eye on momentum.... only think of reversals after there has been a range since that means the counter trend traders have been able to hold the market for some time.

in explosive moves sometimes even a single a doji may mean that counter trend traders have got a foothold
 
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In addition to what @padutrader said above this post, I would add that you should avoid all counter trends, not just the first one. In fact, don't try to pick tops and bottoms, period. The most money is to be made in the middle anyway. So go for the genitalia, not the head or the feet.

Where you wanna go in are the pullbacks. That's the obvious that most people overlook. They know it "intuitively" but hardly ever follow it to the T. Depending on the strength of the trend, there will be a few pullbacks, usually up to 3 (sometime 4). First one, however, is often a TRAP. I personally prefer the second pullback, which is the most reliable one to trade. I'm sure you've heard of "second entry". With that said, after three pullbacks, you wanna be cautious going forward. At this stage, there's a high chance for a full reversal.

But then again, this is highly dependent on how strong the underlying trend is. It's worth noting that if the trend is very powerful to begin with, you won't see that many pullbacks, if at all. It'll be a consecutive green candles just plowing right through ALL RESISTANCE. Anything that gets in its way will get crushed.
 
Strange I always discover my best as soon as I basically give up
Also as soon as I tell anybody I do well in trading it all magically starts going south :-D
Buddy that showed me daytrading once pointed his finger to my head saying "all the problem is here only"
 
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tomas262 said:
Strange I always discover my best as soon as I basically give up
Also as soon as I tell anybody I do well in trading it all magically starts going south :-D
Buddy that showed me daytrading once pointed his finger to my head saying "all the problem is here only"
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everytime I walk away I come back better.
 
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