Started the Trades
- Thread starter sfbayarea
- Start date
Easy.. emotions get in the way. Today was the same thing. My emotions got in the way. I should just set an entry and stop and go back to bed. It eventually reached my price target but I just couldn't sit through the pullbacks and exited with a loss. My number one enemy so far is just that. Everything is really on letting emotions effect my trading. The -177 trade last week was just another example. I engaged in revenge trading just because I was down -29. I get into entries that are just not good and my emotions got in the way.
Sometimes by watching, one just wants to get in the market. But logically with my low experience, it's not the wisest thing to do. I have to fight those emotions.
Can you show us a chart with entries and exits?
I wish I could, I don't know how to do that. I did put up the times for the entries in EST, so you can see it when you pull up a chart for whatever stock I traded that day. That last trade off of CAT, was a Al Brooks setup in H2 I believe. The only problem is that I can't get in at the price that he mentions in his book. He always talks about one tick below or above the previous bar and getting in an entry on a stop. Lightspeed don't allow me to enter on stops. Often it jumps right past it and was the case here and I try to put in a limit order. My entry was upon a pullback that kept pulling back. Ultimately, I was given a chance to scalp out on it with a couple bucks but I didn't. I get tired of trying to scalp out all the time. It ended up being a loss and couldn't sit through the pullback. The market is not easy and will do everything it can to not give it to you easy.
+18
Sold Short 112.59 10:27
Bought Cover 112.49 10:27
That's it today. I controlled myself today and didn't get into anything just because I want to get in. Could've gotten more on the trade but went the safe route. This is a tough business trading, a lot of it is just mental discipline.
Sold Short 112.59 10:27
Bought Cover 112.49 10:27
That's it today. I controlled myself today and didn't get into anything just because I want to get in. Could've gotten more on the trade but went the safe route. This is a tough business trading, a lot of it is just mental discipline.
You are probably using windows (I am more familiar with linux), if I remember well, when you push the PrintScrn Sysrq button on your keyboard the system takes a screen snapshot. So push it, then go to utilities and start paint and then push ctrl V or paste from the menu . You should have your image in paint now: edit it to cut out uninteresting info , and only the chart can be seen, and then save it and attach it to your post.
I don't know lightspeed, but I checked out their order entry tutorial and it seems to me that stop orders are possible
http://www.lightspeed.com/Lightspeed-videos.php?vid=2
may be I am wrong. May be somebody knowing lightspeed and reading this can help...
But anyway, you can emulate stop order: just push market when the Al Brooks low tick or high tick is taken out. Or as you do it put in a limit order after the low tick/high tick is taken out. In many cases the market will come back anyway (you could backtest the percentages if it is a big impact entering on the pullback).
Ok. pls, try to post an image.
I would encourage any Lightspeed trader to log into our web site using their log in credentials. Go to the Trader Software and Documentation page and read the info posted there about stop order handling and origination on the LS Trader platform.
Our Trade Desk 1-888-577-3123 can also assist.
The documentation page (copy and pasted below) looks like this:
Trader Software and Documentation
Lightspeed Installation Guide
Lightspeed Trader Install (32-bit)
Lightspeed Trader Install (64-bit)
*If you are unsure if your Operating System supports 64-bit programs, install the 32-bit version of Lightspeed Trader.
**VPN Users upgrading to 64-bit version of Lightspeed Trader must also upgrade their VPN Software below
Latest Version Release Notes
Technology Requirements
In order to obtain maximum performance with the Lightspeed Trading Platform, we recommend the following minimum specifications:
Processor: 2 GHz or higher (dual core or better)
Memory: 2 GB of RAM
Operating System: Windows XP or later
Resolution: 1024 x 768
Hard Drive: 300MB free space
Cable Modem or DSL with atleast 5 Mbps download speed and at least 1 Mbps upload speed
Manuals, Documentation, and Tools
Download VPN Connection Software (Save to Desktop) (Supports 32 and 64-bit)
Lightspeed Manual
FAQ's
Quick Reference Guide
Available Indices
Newest Lightspeed Charts
On Open and On Close Orders Guide
Supersmart Orders
Pegged Orders Guide
Lightspeed Trader Stop Orders Guide
SSL Registry Change
Lightspeed VPN Installation Guide
Archived Release Notes
Lightspeed Trader Helpful Tips
Our Trade Desk 1-888-577-3123 can also assist.
The documentation page (copy and pasted below) looks like this:
Trader Software and Documentation
Lightspeed Installation Guide
Lightspeed Trader Install (32-bit)
Lightspeed Trader Install (64-bit)
*If you are unsure if your Operating System supports 64-bit programs, install the 32-bit version of Lightspeed Trader.
**VPN Users upgrading to 64-bit version of Lightspeed Trader must also upgrade their VPN Software below
Latest Version Release Notes
Technology Requirements
In order to obtain maximum performance with the Lightspeed Trading Platform, we recommend the following minimum specifications:
Processor: 2 GHz or higher (dual core or better)
Memory: 2 GB of RAM
Operating System: Windows XP or later
Resolution: 1024 x 768
Hard Drive: 300MB free space
Cable Modem or DSL with atleast 5 Mbps download speed and at least 1 Mbps upload speed
Manuals, Documentation, and Tools
Download VPN Connection Software (Save to Desktop) (Supports 32 and 64-bit)
Lightspeed Manual
FAQ's
Quick Reference Guide
Available Indices
Newest Lightspeed Charts
On Open and On Close Orders Guide
Supersmart Orders
Pegged Orders Guide
Lightspeed Trader Stop Orders Guide
SSL Registry Change
Lightspeed VPN Installation Guide
Archived Release Notes
Lightspeed Trader Helpful Tips
O'Leary,
I spoke to a couple guys in the customer service side and they said that it's not possible to enter a trade using a stop order. I did try it but everytime it automatically acts as a market order immediately and before the stop price is met. Those guys just tell me to do limit orders only and don't mess with entering on stops. I think one of the guys was Erik from what I remember but at least two guys in the RMS side said that.
However, it is strange when I spoke to Michael at the trade desk and he says it's definitely possible and he does it all the time. He gave me a memo on stop orders. I did try it but again, it just acts as a immediate market order. Yes, I know the difference between SDOT & STOP on the order entry menu but it didn't make a difference when I tried it.
There must be some type of incoordination going on between the rms (customer service side) and the trade desk. I'm still trying to really figure it out. So far, I'm really just stuck with limit orders and try to place them when the price prints. However, I'm no match for the computers. I've seen it before when as my limit order was hit before it even printed on the time & sales window.
That's also part of the reason I tend to do counter trend trades more often because it is easy to get in because the price is running into your limit order head on instead of trying to get in when it is passing you up. Off course, counter trend trades are more dangerous.
I spoke to a couple guys in the customer service side and they said that it's not possible to enter a trade using a stop order. I did try it but everytime it automatically acts as a market order immediately and before the stop price is met. Those guys just tell me to do limit orders only and don't mess with entering on stops. I think one of the guys was Erik from what I remember but at least two guys in the RMS side said that.
However, it is strange when I spoke to Michael at the trade desk and he says it's definitely possible and he does it all the time. He gave me a memo on stop orders. I did try it but again, it just acts as a immediate market order. Yes, I know the difference between SDOT & STOP on the order entry menu but it didn't make a difference when I tried it.
There must be some type of incoordination going on between the rms (customer service side) and the trade desk. I'm still trying to really figure it out. So far, I'm really just stuck with limit orders and try to place them when the price prints. However, I'm no match for the computers. I've seen it before when as my limit order was hit before it even printed on the time & sales window.
That's also part of the reason I tend to do counter trend trades more often because it is easy to get in because the price is running into your limit order head on instead of trying to get in when it is passing you up. Off course, counter trend trades are more dangerous.
@clm,
If I do a screen shot, how can I edit it to put in where my entry and exits are? I don't know how to mark them. I'm not a computer guy so it is difficult for me.
I could do a hard copy print, then write on it with pencil with entry and exit points. Then take a picture of it and post it. That's the only way I know how but it's a lot of work. If I have a really bad trade, I'll do it so it will be up for critique.
If I do a screen shot, how can I edit it to put in where my entry and exits are? I don't know how to mark them. I'm not a computer guy so it is difficult for me.
I could do a hard copy print, then write on it with pencil with entry and exit points. Then take a picture of it and post it. That's the only way I know how but it's a lot of work. If I have a really bad trade, I'll do it so it will be up for critique.