Now thats funny.
running money - 35% a year
- Thread starter coolweb
- Start date
1) Warmup Pattern Recognitions trades
I think I might do a 15 minute trade every single day, once a day , to keep my trading muscle strong.
Probably take a CL on a 15minute/1 minute chart, trade it.
I often do this type of trading to keep me confident so when I do need to take a big trade, I remember my previous warmups, my conviction is strong, my entry will be large ,my reward will be huge.
2) During this lull period, I'm setting up some capital allocation, hopefully we can work with more capital soon.
I have a bunch of fixed incomes coming out this year, Will move a few to the trading account.
We should be at least 500k strong soon, margin up to 800k.
All in on entry_
1% risk on an 800k trade = 8k risk
10% profit on an 800k trade = $80k , pretty simple.
Scale 50/50 in on entry_
1% risk on a 400k trade = $4k risk
ADD risk on another 400k trade after 2% move = 0 risk.
10% total move on an 400k 8% on 400k add = $40k + $32k = $72k
*relatively low risk.
3) I think scale strategy is more efficient
4) vacations and trading free days ...
hopefully my mind is relaxed enough, sharp enough, when the time comes to compete for a nice large entry,
my relaxed mind > your tired mind.
my pattern experience > your market experience
my conviction capital > your scared capital
my large profits >> your stopouts.
5) I don't think of this trading game as income or anything like that, Its just a bunch of low risk setup, medium risk setups, high risk setups,
low risk high reward setups.
All these setups, as time goes on, you can put 20 million on it, $50 million on it,
$2 million on it. its all the same, its all about the right setups with small risk and high rewards.
The money is scaled to the hilts.
The quantity of $$Money$$ is of low disregard at this stage.
Quality of setup is important.
Should be simple
I think I might do a 15 minute trade every single day, once a day , to keep my trading muscle strong.
Probably take a CL on a 15minute/1 minute chart, trade it.
I often do this type of trading to keep me confident so when I do need to take a big trade, I remember my previous warmups, my conviction is strong, my entry will be large ,my reward will be huge.
2) During this lull period, I'm setting up some capital allocation, hopefully we can work with more capital soon.
I have a bunch of fixed incomes coming out this year, Will move a few to the trading account.
We should be at least 500k strong soon, margin up to 800k.
All in on entry_
1% risk on an 800k trade = 8k risk
10% profit on an 800k trade = $80k , pretty simple.
Scale 50/50 in on entry_
1% risk on a 400k trade = $4k risk
ADD risk on another 400k trade after 2% move = 0 risk.
10% total move on an 400k 8% on 400k add = $40k + $32k = $72k
*relatively low risk.
3) I think scale strategy is more efficient
4) vacations and trading free days ...
hopefully my mind is relaxed enough, sharp enough, when the time comes to compete for a nice large entry,
my relaxed mind > your tired mind.
my pattern experience > your market experience
my conviction capital > your scared capital
my large profits >> your stopouts.
5) I don't think of this trading game as income or anything like that, Its just a bunch of low risk setup, medium risk setups, high risk setups,
low risk high reward setups.
All these setups, as time goes on, you can put 20 million on it, $50 million on it,
$2 million on it. its all the same, its all about the right setups with small risk and high rewards.
The money is scaled to the hilts.
The quantity of $$Money$$ is of low disregard at this stage.
Quality of setup is important.
Should be simple
trading exercise #1
Was going to short GC, gold, @ 1125.60
then @ 1123.00
no dice today, couldn't get one trade out.
was tinkering with the god damn timezone on my software,
whole trying to trade it, learned a little more about price action as well.
Gold looks bearish,
---------
everytime you trade price, you learn just a little more, the intricacies of general price action such as a breakdown and where is the best area to short, these things help you become a supremely accurate trader.
Was going to short GC, gold, @ 1125.60
then @ 1123.00
no dice today, couldn't get one trade out.
was tinkering with the god damn timezone on my software,
whole trying to trade it, learned a little more about price action as well.
Gold looks bearish,
---------
everytime you trade price, you learn just a little more, the intricacies of general price action such as a breakdown and where is the best area to short, these things help you become a supremely accurate trader.
Next week off as well.
--------
I enjoy my vacations , trading is stressful, well for the first day I put in my entry it is, I'm watching the market the whole day.
But during my non-trading weeks,
I eat rib eye steak lunches, plates of watermelon, bang women, relatively enjoy life. Trading shouldn't be a rigorous strenous activity every single day, that takes the freedom out of trading.
Trade the good setups, enjoy life, fk more women, That is the good life. Theres nothing to really trade this week, markets been walking in place, I'm sure lots of people have been trading anything that moves, but thats not a 100% situation.
The people piking for 5 ticks , Thats the wrong way to trade, just insanely wrong. I mean the whole concept of fighting for 5 pennies is wrong. Its just WRONG, plain and simple. Unless you are market making, which is a completely differnt function, but if we are betting on direction, I am not going to sit here and bet on direction for the next 5 ticks, unless I'm doing some practice trades.
1) You miss the forest for the trees
2) 5 ticks ain't going to buy you shit.
3) Do you pickup cans on the streets even though its worth 5 cents? Found money right? Why would you trade for 5 cents?
completely newbie mindset or business plan.
---------------
4) Do you bang obese girls as well? As a person matures , you start to differentiate between prefered women (skinny and beautiful ) and unprefered women (obese), When you were younger, even obese women were unacceptable.
skinny and beautiful = good 10%++ setups
obese women = 5 tick setups.
Longer you can hold a position = more % you make.
pretty simple.
--------
I enjoy my vacations , trading is stressful, well for the first day I put in my entry it is, I'm watching the market the whole day.
But during my non-trading weeks,
I eat rib eye steak lunches, plates of watermelon, bang women, relatively enjoy life. Trading shouldn't be a rigorous strenous activity every single day, that takes the freedom out of trading.
Trade the good setups, enjoy life, fk more women, That is the good life. Theres nothing to really trade this week, markets been walking in place, I'm sure lots of people have been trading anything that moves, but thats not a 100% situation.
The people piking for 5 ticks , Thats the wrong way to trade, just insanely wrong. I mean the whole concept of fighting for 5 pennies is wrong. Its just WRONG, plain and simple. Unless you are market making, which is a completely differnt function, but if we are betting on direction, I am not going to sit here and bet on direction for the next 5 ticks, unless I'm doing some practice trades.
1) You miss the forest for the trees
2) 5 ticks ain't going to buy you shit.
3) Do you pickup cans on the streets even though its worth 5 cents? Found money right? Why would you trade for 5 cents?
completely newbie mindset or business plan.
---------------
4) Do you bang obese girls as well? As a person matures , you start to differentiate between prefered women (skinny and beautiful ) and unprefered women (obese), When you were younger, even obese women were unacceptable.
skinny and beautiful = good 10%++ setups
obese women = 5 tick setups.
Longer you can hold a position = more % you make.
pretty simple.
1) No trades this week.
Insanely boring , But thats how trading works.
women this week
2) I'm thinking my next trades might come up around april 12,
20 days of waiting.
Insanely boring.
3)
bulls - i be careful if i was you, long here is low reward, high risk, bad value.
shorts - dangerous to short as well, because it can creep up higher!
***creeping doesn't make bulls money either!
4)Thats why professionals don't short tops... Tops are not for shorting. They are for stalling, stalling people till nobody can take it anymore, then they fall.
5) Last week ES moved
1143 -> 1156
+13 points
aka 1% move in 5 days, .20% per day
why bother trading?
<b>
Waste of time, thats what it is.
</b>
Insanely boring , But thats how trading works.
women this week
2) I'm thinking my next trades might come up around april 12,
20 days of waiting.
Insanely boring.
3)
bulls - i be careful if i was you, long here is low reward, high risk, bad value.
shorts - dangerous to short as well, because it can creep up higher!
***creeping doesn't make bulls money either!
4)Thats why professionals don't short tops... Tops are not for shorting. They are for stalling, stalling people till nobody can take it anymore, then they fall.
5) Last week ES moved
1143 -> 1156
+13 points
aka 1% move in 5 days, .20% per day
why bother trading?
<b>
Waste of time, thats what it is.
</b>
gold 1095
I felt something was wrong a few weeks ago, Price action was wrong,
What is price action?
Basically price action is the way it acts , as someone said.
It was acting wrong , not a bullish pattern
What is a bullish pattern?
Well if you watch price as long as I have, you know when something looks bullish and when something looks bearish.
If its bullish, its not suppose to be running around the open price and below it.
Not very bullish.
People talk about price action this price action that, First you need a set price pattern like something to compare to
Pattern #1 (bullish patterns)
then compare all current price with Pattern #1,
if nothing matches, this price is not bullish.
-------
this would be how you use price action.
Price action can let you know in advance, this shit isn't bullish anymore, and then you get out,
if you read my posts, you would know I am very bullish on gold.
but price action doesn't match bullish price patterns I know.
So I *Sell*
I sold all my gold 2 weeks ago.
If I sold now, I would be out of the money.
Am I a fortunre teller? No
I watch price action and compare it to my memorized bullish price patterns, pretty simple.
some explaining of what is price action, since I saw that question popped up, Most people explained it wrong.
I felt something was wrong a few weeks ago, Price action was wrong,
What is price action?
Basically price action is the way it acts , as someone said.
It was acting wrong , not a bullish pattern
What is a bullish pattern?
Well if you watch price as long as I have, you know when something looks bullish and when something looks bearish.
If its bullish, its not suppose to be running around the open price and below it.
Not very bullish.
People talk about price action this price action that, First you need a set price pattern like something to compare to
Pattern #1 (bullish patterns)
then compare all current price with Pattern #1,
if nothing matches, this price is not bullish.
-------
this would be how you use price action.
Price action can let you know in advance, this shit isn't bullish anymore, and then you get out,
if you read my posts, you would know I am very bullish on gold.
but price action doesn't match bullish price patterns I know.
So I *Sell*
I sold all my gold 2 weeks ago.
If I sold now, I would be out of the money.
Am I a fortunre teller? No
I watch price action and compare it to my memorized bullish price patterns, pretty simple.
some explaining of what is price action, since I saw that question popped up, Most people explained it wrong.
I'd be short here
ES 1160 , stop 1160.50
DIA 107.87
my stop would be the high of today.
Very safe short.
small size,<b> cause shorting indexes don't make jackshit</b>, but its obvious to me.
ES will close below 1156 today.
Feel the conviction in my trades? Better feel it cause thats what you need to trade with .
Conviction + a tight stop
ES 1160 , stop 1160.50
DIA 107.87
my stop would be the high of today.
Very safe short.
small size,<b> cause shorting indexes don't make jackshit</b>, but its obvious to me.
ES will close below 1156 today.
Feel the conviction in my trades? Better feel it cause thats what you need to trade with .
Conviction + a tight stop