The Last Dance - my last attempt trading journal

[Thor]

Yeah, it does. Because Tony Robbins is not that smart. He's a sheister, sucking money away from people who are desperate to stay out of the poorhouse with his feel-good BS seminars. You know he actually did one on trading? Where he basically said the power of your mind will make you a better trader and a victor in the markets?

Hooked-on Phonics worked for them?

There you go again. You even edited my post in the quote to say something I didn't.

It's not "sheister", it's shyster, or is that not taught in home school? When you don't know how to spell, use a spell checker.

So you got suckered into attending a seminar and learned nothing. I did that many times.
In the end, it's all about connecting with the right person.

As a teenager, I connected with a very senior player. He made me what I am today.
I was lucky enough to meet the right person and got my dream job, and later met the right woman.

In trading, it took many tries, but eventually I did. It's your luck in the draw at most things in life.

 

[Overnight]

There you go again. You even edited my post in the quote to say something I didn't.

It's not "sheister", it's shyster, or is that not taught in home school? When you don't know how to spell, use a spell checker.

So you got suckered into attending a seminar and learned nothing. I did that many times.
In the end, it's all about connecting with the right person.

As a teenager, I connected with a very senior player. He made me what I am today.
I was lucky enough to meet the right person and got my dream job, and later met the right woman.

In trading, it took many tries, but eventually I did. It's your luck in the draw at most things in life.

No, I did not edit your post to say something you did not say. I simply redacted the irrelevant bits for the point I was trying to make. I did not type something in your stead that you did not type. I do not, and never have, done anything hideous like that. Get it straight.

Tony Robbins is a feel-good BS artist, and uses the slick psychology of trying to make people think they can get ahead in life by making them feel high-in-spirit at that moment.

When he tried to apply it to trading, I saw RIGHT THROUGH IT.

And thanks for the spell-check. Now we know we have a true Yid on the forum, one who can correct me when I get my Jew on but get it wrong.

 

[danielc1]

FALSE AF

What is False AF?

 

[Pivotas]

What is False AF?

This:

EliteTrader.com is a group of 100,000+ financial traders that have meaningful conversations

 

[themickey]

This:

EliteTrader.com is a group of 100,000+ financial traders that have meaningful conversations

 

[geth03]

so my pc did a large update without asking me, which took 3 hours.
no trades yesterday so far. and as i trade from europe, because of the change over from winter to summer time, i am at my desk around 2 hours after market open, which makes it little bit difficult to trade the open.

the fomc didn't change the fed funds rate yesterday, which was a bullish indication for the market as all equity indices reallied.

 

[geth03]

as a few of you guys already replied to this thread somehow, some related to my trading, others related to random stuff, i would like to also comment to few things.

@padutrader
i admire your persistance with the markets. i think you really enjoy the challenge of trading. i too, once read all the books from Al Brooks, and also have his course on price action trading. i think his style of trading is way way complicated than anybody can grasp his ideas. i saw that recently he disovered the DOM. so he started courses on how DOM information is leading the bar chart. to be honest, i think this guy is a scammer at best.

@danielc1
if you are really a good trader, that makes money trading and puts the money where his mouth is and shows a track record, i don't see anything wrong with wanting money for trading education. i know that there is time involved when you try to teach something to somebody and with that time you could do something better for yourself.

@Thor
i am not really into that motivational speekers. i don't like Tony Robbins at all.

@smallfil
i don't have the unreasonable expectation that i won't be losing money. of course i will, thats part of trading. i am taking 3 trades a day at most.

@Bad_Badness
there are sure advantages to paper trading, but you will never ever be emotionally attached to the trade in the same way you will to real money. i think i have some issues with executing trades. i don't want to miss out trades, so i enter where i should not, and skew my risk:reward negatively. then if i get stopped out and later on analyze my trading day, in hindsight everything looks crystal clear. i am currently working on that aspect of my trading.

@tayte
when i started trading my first futures account, i mainly traded from the orderbook. back then there was no micro contracts, i was undercapitalized and the leverage was extremely high. so i needed the perfect entry to set tighter stops, and got stopped out accordingly.

@Pivotas
i know that those guys are not called designated market makers by the exchange, but those guys act like market makers, so i was referring to them. i know how and why markets move.

 

[vinc]

DIdnt read the whole thing.

You dont need to be a math wiz to be successful at trading - its almost irrelevant.

Overtrading is real.

Volume/ trading size is relative. The people that lose due to volume have a mental block and are probably trading bigger than their account size can handle. 2% of 20k and 2% of a Mil are vastly different but still 2% - therefore it should not matter.

Most day traders lose because, quite simply, they think they are smarter than what they are or they overcomplicate shit.

Some oversaturate their knowledge and then end up getting confused instead of following one type of system and trying to learn it perfectly. This goes back to most traders thinking they have learned it perfectly and it must be the system when in fact they are arrogant morons.

Stop trying to beat the market and ride the market instead. NO one is beating the market any time soon.


What works for a 1billion trading account will not work for a 2k trading account and Vise Versa.

If you arent trading for income whats the point? This is a way to sike yourself out so you dont make bad decisions. Focus on making good decisions and thats it. You wont magically get somewhere because you "dont trade for income" .


Thats enough for now. Good luck.

oh,man..big fan of your posts! but..there is always a but
before I give you a like / the OP forgot /, define so that a a computer would understand,
no ambiguity:

overtrading

overcomplicate

oversaturate

how do you 'ride the market'

how to make 'good decisions'

from what I see you get lots of likes just using those phrases..so we might be positive that they are good for getting likes here..but are they good for trading? do they describe trading reality?
for example, if one has a trading model with no predictive value then one transaction is already overtrading

now what I 've discovered lately is that this kind of language DOEN'T DESCRIBE TRADING REALITY.. no wonder almost noone / me included/ understands what Dest is talking about

 

[IamTheCasino]

define so that a a computer would understand,
no ambiguity: - Trading is ambiguous by nature. nothing is certain which is why it is difficult to give answers people seek when it comes to trading and why it seems like no answer is ever good enough. That isnt how trading works. Getting into a trade you have a good confidence of it working still makes you feel uncertain. Start being comfortable with uncertainty.

overtrading - you get into a trade, you make some money - get out, and then you get back in right away - i understand this can happen with scalping but most traders shouldnt be scalping, they can barely understand what the market is trying to tell them. You get in a long trade, get stopped out. Get back in long because "stopping out happens but its still going up" get stopped out again. Then you try again instead of just waiting to see what the market is doing. You can chalk up overtrading to being impatient.

overcomplicate - too many indicators. Relying too much on backtesting and spending all your time on backtesting tweaking every little detail. I personally find backtesting a waste of time. Thinking that "if a bar goes 2% but pull backs 1% its going down further, but if its a bull bar then there is a chance it doesnt. Bull trends arent going to go down with a 1% PB unless the bear bar is 15 pts tall" - shit like that

oversaturate - Some read too many books because if their "system" creates losses then they go find something to make it better. Instead of perfecting their system. So they read and read about this and that trying to mish mash it all together until their knowledge is so jumbled that they have confused themselves to the point they will not be profitable no matter how much they try.

how do you 'ride the market' - staying in a trade that is going your way until there is a reason to get out due to PA and the context regarding the bars to the left. Depending on when you enter will determine how long the ride lasts.

how to make 'good decisions' - If the market is going up strongly dont sell. If the market is in a TR dont buy a BO since 80% of BOs fail in a TR, better to sell. Dont get in if you are confused. Dont get stopped out and then get right back in. A lot of this comes down, to again, patience.

See bold

 

[geth03]

so i had two trades in total today, both of them losers.

i will share my previous trades also, with entry and exit points.

i entered a short at ON resistance, price shot through me, stopped me out and went south.

i entered long, on the 50% retracement of that move and got stopped out again, after stopping me out
market turned.

down 42 € for today.

i think in the trades i make, i get the overall picture but my timing is not good.
in the trades i took so far, i would be better off putting my entry where my stop loss would be and then place my stop loss after that. thats a common pattern i see when i analyze my previous trades.

in the second screenshot you can see that the launching point of yesterdays directional move acted as support on retest. thats something i noticed in the ES and also in other markets.
i could go long on a retest, unfortunately i was not at my desk at that time.