prox e-mini NQ journal

[prox]

Originally posted by Tech Analysis
You're getting whipsawed in this choppy period. Best to sit on the sidelines until a trend develops

Yeah, but how do you know when it's trending or not until after the fact ?

 

[Tech Analysis]

Originally posted by prox


Yeah, but how do you know when it's trending or not until after the fact ?

The million dollar question! For one thing I avoid the mid-day range.

 

[prox]

Originally posted by Tech Analysis


The million dollar question! For one thing I avoid the mid-day range.

lol, what times do you consider to be mid day?

 

[Tech Analysis]

I try to avoid the 11-11:15 ET through about 1:30 range, give or take.

The volume dries up and the breakouts tend to be false. Sometimes you can get a short going in and it will fade lower, but usually it's more risk than reward during the NY lunch period.

 

[dbphoenix]

Originally posted by prox


Yeah, but how do you know when it's trending or not until after the fact ?

Are you making higher highs and higher lows, or lower highs and lower lows? If not, you're not trending.

--Db

 

[TriPack]

Originally posted by dbphoenix


That's pretty much the point of this thread category. Otherwise, why not use ChitChat?

--Db

The purpose of this category is:

The place for keeping a daily journal of wins, losses, and anything else related to your quest of becoming a better trader.

It doesn't say anywhere in there that you have to share your method in order to write a journal in this category.

Prox, while we're on the subject of methods, a thread you might want to check out that contains several methods specificially aimed at the EMini markets is found at:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=9722

Prox, I would strongly suggest you follow a defined method or system so that you will be able to measure your performance against an objective ideal (even if it is a VERY simple method).

 

[dbphoenix]

Originally posted by TriPack
It doesn't say anywhere in there that you have to share your method in order to write a journal in this category.

However, without doing so, one would be better off just keeping it in Word.

--Db

 

[prox]

Originally posted by TriPack


The purpose of this category is:



It doesn't say anywhere in there that you have to share your method in order to write a journal in this category.

Prox, while we're on the subject of methods, a thread you might want to check out that contains several methods specificially aimed at the EMini markets is found at:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=9722

Prox, I would strongly suggest you follow a defined method or system so that you will be able to measure your performance against an objective ideal.

Thanks for the link..

I do see Phoenix's point and the futility in this thread .. and will therefore cease posting. For what it's worth, if anyone finds this useful or might want to get the thought process of another trading during trading hours, PM me and I'll give you my AIM name.

 

[TriPack]

Originally posted by prox



Thanks for the link..

I do see Phoenix's point and the futility in this thread .. and will therefore cease posting. For what it's worth, if anyone finds this useful or might want to get the thought process of another trading during trading hours, PM me and I'll give you my AIM name.

For what it's worth, it is possible to describe a method without giving it away, and there are really no secrets in this business. When starting out it is important to get feedback so you can know if you are heading down the right path or not. However, the ultimate feedback comes from the markets.

 

[TriPack]

Originally posted by dbphoenix


However, without doing so, one would be better off just keeping it in Word.

--Db

It depends on the motivation. If the motivation is to get feedback on the method, the yes I'd agree that he would be better off describing his method. If the idea is to get feedback on his trading pattern, thoughts, feelings in general then he can accomplish that in this forum without talking about his method too much. I'll admit it won't be as interesting, however. I think there may be other value in posting - helping enforce discipline is one benefit that comes to mind. Validation is another, though validation is overrated.

Of all the journals in this section, I can only think of a couple that explicitly disclose the entire trading method employed. Usually a general description is enough to elicit the desired feedback.

But it sounds like to me there isn't a definite method and it sounds like he is going to stop posting so I think the point is moot.