The Day Trading Thread

[SimpleMeLike]

exit for $70, 7 ticks. I exit because 1 minute showed a green bar and signs of turning.

Look like some bears are entering on that 20 ema

 

[SimpleMeLike]

Here is the proof of trade. To see it. You see guys was that so hard. All this arguing and monkeying around. Just trade and give feedback.

 

[SimpleMeLike]

long orange arrow

stop loss at red arrow

enter long because of reversal.

Lets see what happens.

 

[SimpleMeLike]

Well well well,

So as i am sitting here waiting for the trade to take place and wondering "why price not going up after my entry"

I look to the left. And what do i see, a damn resistance line. Now what do I do???? I am losing money, I enter on resistance line price is rejecting. hmmmmmmmm????

Do I stick to my stop loss and let the trade play out?? I will kick myself in the ass if I exit early, the trade goes in my favor.

What shall I do??

I decide to play it safe and take a small loss. I exit for -$90, or 9 tick loss.

Was odd is I had this line drawn early this morning but removed for some reason. damit.

 

[MarkBrown]

simple - i love you man

someone said you have coded - so you will understand this when i say this.

once i had a very complicated piece of code i could not finish so i asked a good friend to finish it and he said > man i need to start from scratch because it will take forever to figure out your code and logic so i am just going to start from the beginning and re-write the entire thing.

so you asking for me to help with your method, i am like gimmie your login and i will just trade for you it would be simpler. i have spent a lifetime building and using the tools i have. i can't run indy with a converted dirt track car, i would rather just build a new indy car from scratch.

i can not even wrap my head around what your doing cause i have no belief in the first place it will work. every trader has to do what makes sense to them.

 

[SimpleMeLike]

SimpleMeLike,

Looks like you are selling where others are taking profits on their shorts or initiating longs in hope of a larger breakdown (see image below). As Mark said, a Turtle trade. You are trying to read in the moment and not make a defined ruleset you can backtest. Are you reading the day's narrative that most all indexes, commodities, metals, currencies are not showing signs of large range expansion today and thus the chance of a breakdown trade in oil are diminished?

This is basically the topic that Mark is making with this thread, losing focus of the background while focusing on the foreground.

View attachment 203694

Hello They,

Thanks comment.

Questions:

1. What does "losing focus of the background " mean?
2. What does "focusing on the foreground." mean?
3. What does "larger breakdown" mean?
4. What does "Turtle trade" mean?
5. What does "day's narrative" mean?
6. What does "large range expansion" mean?

Yes, you correct, I trade in the moment, buy just staring at the chart I have.

It appears price is trading in a range now, with price heading downwards (my eyes are seeing this, I am not making it up)

Price is currently rejecting some resistance level, I can go short now betting on prices to fall, OR I can wait for price movement downward OR I can go long once price goes above the line by the blue arrow.

Why do I need to look all those terms above, when the chart is right here in front of me?

Why not just do what price is doing, and just be carefully while doing it? Atleast I am doing whatever price is doing? How do I know this will work overtime? Well, we shall see. Sorry They, but the whole backtesting stuff, hmmmmm, I don't know. I want to trade in real time. yes, i backtest in market replay, but I am not sure a step 1, step 2, step 3 ruleset works. I don't know.

 

[SimpleMeLike]

simple - i love you man

someone said you have coded - so you will understand this when i say this.

once i had a very complicated piece of code i could not finish so i asked a good friend to finish it and he said > man i need to start from scratch because it will take forever to figure out your code and logic so i am just going to start from the beginning and re-write the entire thing.

so you asking for me to help with your method, i am like gimmie your login and i will just trade for you it would be simpler. i have spent a lifetime building and using the tools i have. i can't run indy with a converted dirt track car, i would rather just build a new indy car from scratch.

i can not even wrap my head around what your doing cause i have no belief in the first place it will work. every trader has to do what makes sense to them.

MarkBrown,

I love you too man. LOL.

I will PM you my login shortly.

Yes, I do have programming logical automation experience and have coded before in Ninjatrader.

I stop automation because I ran out of ideas to test. The hours spent coding subtracted from the hours starring at the chart.

In order to code something and backtest, you need trading ideas. Where will someone with no trading experience obtain trading ideas from?

Another thing was, when I click back test for +5 years, always show overall PnL losing.

I had to leave that world and just stare at the chart. Maybe people are making money with automated trading. I sure was not one of them. LOL

 

[MarkBrown]

In order to code something and backtest, you need trading ideas. Where will someone with no trading experience obtain trading ideas from?

when i first started out i stole trading ideas from everyone, anything i could get my hands on i tried it. then i started getting ideas, got good at programming and went to work for a big trader. my theft rampage continued for decades as i spent corporate money jetting to my next victims. you're on a island right now with a whole bunch of people who don't have a life raft either and the ones who do have one are not so inclined to share theirs.

but just like survivor you need to create some alliances with a group of like minded traders, hopefully some successful ones. i worked out of chicago for a long time flying from texas back and forth, cause i wanted to know what i was missing. i made the most money of my life while working in chicago. want to make it trading go where the traders are and hone your skills. trade programming and order execution for small wages and a house account to trade.

my cousin said get a bunch of meth heads lock them up in a room and don't give them any drugs until they figure out how to make a million dollars. so how bad you want it!

 

[SimpleMeLike]

simple - i love you man

someone said you have coded - so you will understand this when i say this.

once i had a very complicated piece of code i could not finish so i asked a good friend to finish it and he said > man i need to start from scratch because it will take forever to figure out your code and logic so i am just going to start from the beginning and re-write the entire thing.

so you asking for me to help with your method, i am like gimmie your login and i will just trade for you it would be simpler. i have spent a lifetime building and using the tools i have. i can't run indy with a converted dirt track car, i would rather just build a new indy car from scratch.

i can not even wrap my head around what your doing cause i have no belief in the first place it will work. every trader has to do what makes sense to them.

Entry light blue arrow.

Now I sit and hope the next resistance level breaks on a one minute chart at the green arrow.

I like to let one minute bar full close before deciding to exit.

This trade got me +30 ticks

Everyday I draw lines all over the chart and trade them if the breakout or reverse.

I am not sure what other way to trade that is simple

 

[MarkBrown]

3 Minute day session chart of QM.

Using a multiday VWAP with Standard Deviation bands and Tillson's Moving average filtered to only plot in direction of VWAP. This is the forest you are lost in the trees to the far lower right of the screen.