tampa's "short skirt" trades...

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Originally posted by Hendrix
Tampa. I read your journal, and it is like looking in the mirror, but a few years delayed.
May I make a suggestion which may or may not help?

Make it as boring as possible. Setup, trade, setup, trade, setup, trade, no questions, no second guessing, no hesitation, and most importantly, no kicking yourself afterwards, which does nothing but make you weaker IMHO.

H
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The advice is sound, and I would do well to implement it - and in a hurry.

But here's the strange part. in the past. I have lost big bucks, as I have already admitted. I no longer do. In fact, I now hate to lose so much, that I cut and run at the first sign of possible trouble.

Cutting losses quickly is a good thing. Cutting them too quickly ain't. It's finding the mid-ground that puzzles me now.
 
Originally posted by Aaron


I agree. Successful trading is like bricklaying. You just keep doing the same thing over and over and over.
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But bricklaying is like real work. I mean you sweat, and get your hands dirty, and yuck!

And that's what I have to do? Is that what you're telling me?

I mean the whole reason that I got into this is because I wanted to avoid "real work" - and what about the union? Do I HAVE to join?

(Of course I see what you mean - and it ain't a bad analogy)
 
Tampa

It appears to me that you are just using 1 minute flags rather than "short skirts". There is a difference. The only thing I see on the ES chart from yesterday that I would call a short skirt would be the pullback from the 10:35 bar to 816 at 10:43. Using 3 pt stops on 1 min flags is not the best r/r in my opinion.
 
Originally posted by easyrider
Tampa

It appears to me that you are just using 1 minute flags rather than "short skirts". There is a difference. The only thing I see on the ES chart from yesterday that I would call a short skirt would be the pullback from the 10:35 bar to 816 at 10:43. Using 3 pt stops on 1 min flags is not the best r/r in my opinion.
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...hmmm - we really disagree on this one. I did not consider that to be a "skirt" at all. Why not? A "short skirt" requires an impulse move - a good pole as Linda would say.

At 10:35 the market was in congestion, there had been no impulse move.

But what the hey...disagreements about what we see is what markets are all about - right?
 
Originally posted by Hendrix
Are you agreeing nitro, or are you being facetious? After I wrote this, I read your comments on Quah's thread, and I am not a trader under your definition.

I know myself, and I know that I can never be a discretionary trader (I can do fine for a while, but then 1 mistake and I give it all back - standard story).
Knowing myself as I do, I need to automate as much as possible, which, by your earlier definition would make me "not a trader".

I'm struggling to reconcile your response to this post (which is aiming to remove discretion), assuming your response is genuine, with your earlier posts. I did only really skim them, but I think I got the gist.
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Hendrix,

I am/was in total agreement.

As far as automating your stuff - I understand...

Ivan
 
So like I'm sitting here waiting for "poles", and "impulse moves". I am waiting for various moving averages to line up - well, at least it keeps me occupied. You gotta have everything just right for a good "skirt".

So anyway, while doing all of this I also have been keeping an eye on Quah's system - oh Jesus!

My day hasn't begun - his is almost over.

...hmmmm...
 
Right now I am one confused little boy. I see something beginning to happen – again.

Maybe some quick background here.

I frequently put 5, or 6, maybe even more winning a row. And then 2, or 3 losers – rarely more. During the winning streak, I am walking on water, baby. During the losing streak, all is lost, it’s doom and gloom.

Are you with me so far?

I begin to question everything – myself, my method, my abilities – ever happen to you?

I will spend a lot of time and effort convincing myself, forcing myself to believe in a method. And you know what? I am never wrong. Everything I look at, and decide to use, works. It really, really works.

Just not the way I had envisioned. Because I envision near perfection.

Well guess what. It’s almost 11 o’clock on day number three of this little adventure/experiment, and my mind is playing games with me. You know what I’m talking about. It’s saying things like: Sure the “skirt” thing works, but maybe there’s something better. Maybe you should look at something else. Maybe you should look at something better suited to your needs, and personality.

Ya, that’s the ticket.

That Subliminal guy trades by “the seat of his pants” – and he almost always makes a buck. And that Quah – holy shit, he’s cleaning up. And neither is sitting at a computer screen all day long. (I like that idea), and they ain't exactly driving themselves nuts analyzing this, and analyzing that. (it’s sounding better all the time)

So here I sit in a state of confusion – again. Full of doubt. Questioning everything. Waiting for a picture perfect “impulse move”, and an even more picture perfect “pull-back”. Thinking. Pondering. Questioning. Wondering

Oh, by-the-way – Quah’s system just hit AGAIN! God Damn-it.
 
My background. I believe the crowd is always dumbed down. I believe the crowd belief about psychology is pathetic. Freud was and idiot so were most of his followers. (actually he may have been just trying to get laid so blame his disciples) So what you get is crap. Try looking at it from the opposite perspective. That your inner self is rebelling because it senses that your method is not set up properly and well designed to make money.

Hey if you are having trouble trading the concept-- rather than berating yourself about not following your system. You should believe that your "inner" mind is really correct and that it senses that there is something wrong with your approach. I have trained traders in my office. They always try to blame themselves for things. I always tell them that they are having trouble trading because their mind is saying "hey you do not know what the hell your are doing" and your are risking money. What is wrong with that mind. It is actually correct.

Now you may be sensing that your approach does not have enough winners to make up for you risk reward choices. Do not fight yourself, do not assume you are self sabotaging. Believe your inner self and do not trade until you are sure it works. When you are sure you will be surprised at how much easier it is to trade. Now you may be sure it works after looking at past charts. But you need to reassure yourself going forward in real time. So trade smaller or paper trade or trade 50 shares of spys until you have the track record. Only then will get the success Brandon spoke about because then you will know your goal.
 
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