Today Gave Me A Headache

Interesting post. I used to feel this way, but I realized I was placing stops in predictable places, such as near high or low of the day (often tested, surged through, then sharply reversed, unless continuing a trend), or near minor or major S/R levels.

The best advice posted here is trade smaller with wider stops to allow room for shakeouts, since you believe your indicators for trade entry are solid.

You might try smaller size, wider stop during volatile periods, or for anything less than your highest probability setup. Then save larger size for the highest probability setups, and use a tighter stop, because a high probability setup should go your way quickly.
 
It's because a lot of daytraders are jumping back into the market, so the price action is trading accordingly. You have to trade like a predator, not a daytrader. Know where the stops will be run, see the short term squeezes. Unless you're holding for a longer term ride, you have to be a predator, not trade like prey.
 
Quote from pspr:

I have a system that uses some home made indicators combined with support and and resistance levels. It provides a few great entry points every day and very few signals should turn into losses.

My problem is that the market is looking over my shoulder. It knows when I take a trade and knows where my stop is placed. I'd swear the emini trades thousands of contracts just to go right to my stops then snaps right back and continues to make the move I expected without me. If I put in a tighter entry limit price to enter then the market teases me by trading at my price without a fill before it takes off without me.

If I chase the market at all, it invariably just sucks me in just to turn and go hunting for my stop.

If I widen my stop out the market will break any and all support levels to reach my stop. Regardless of where I put my stop, tight, loose or in between, the market can almost always find it. It wouldn't be so bad if after hitting my stop the market the market would keep on going, but NO. It likes to hit my stop by a tick or two then scream back in my direction.

So, why don't I just put my entry order where I would place my stop, you ask? Tried that. The market knows its an entry order and not a stop and never trades there.

Once in a while the market does what I expect for a while. Then it wants to make sure I didn't move my stop to break-even and will run back to my entry price just to get me out. If it fails to trick me with that maneuver, it will screw around after moving just a little making what appears to be topping action forcing me to grab a quick small profit. Within moments of getting me out, the market continues its move without me. If I fail to grab the small profit offered to me the market will turn against me and turn that small profit into a loss or break even if I'm lucky.

Am I the only one here that the market is gunning for? Do others find the market knows when you have a position and knows where your stops are? Or are you the one who is looking over my shoulder and using me for your personal ATM?
More...

Persist, you are probably very close to a breakthrough. If your system has probability in its favour, you will prevail.

If you are as close as you say you are, and it sounds like you are, you pretty much have it solved.
 
Some good advice.

The answer may be to quit sneaking my stop up too soon.

I'm glad I'm not the only one who has been stopped out at the HOD or LOD tick. I try not to take those trades any more. Even if I can see it comimg they always seemed to have one more thrust before I was right.
 
Quote from pspr:

I'm glad I'm not the only one who has been stopped out at the HOD or LOD tick. I try not to take those trades any more. Even if I can see it comimg they always seemed to have one more thrust before I was right.
More...

Whatever you do, the market will from time to time take out your stop on the exact high or low. The real problem for you is if you start thinking that the market is after you. Nevertheless, it is really frustrating to watch that happen.
 
Quote from pspr:
My problem is that the market is looking over my shoulder. ..

It knows...

the market teases me ...

it invariably just sucks me in ...

the market will break any and all support levels to reach my stop. ...

the market can almost always find it. ...

It likes to hit my stop ...

The market knows ...

will run back to my entry price just to get me out. ..

If it fails to trick me with that maneuver...

it forces me to grab a quick small profit...

the market will turn against me and turn that small profit into a loss or break even if I'm lucky.

Am I the only one here that the market is gunning for?
More...
You may already know this, but you need to stop saying these things as soon as possible. If you say something to yourself over and over again, it can seriously affect your judgment.

I'm not saying stops aren't run and that games aren't played in individual stocks. I'm saying that all of the above is making excuses for your bad trading. You are looking for reason outside of yourself to explain what's going on. In your case, you believe it's 'the market' that is causing your losses. It isn't.

It's clear that the majority of people look outside of themselves to explain their outcomes. This is why they mostly fail, not only in trading but in other ventures.

Hope you understand where I'm coming from.
 
TraderNik,

Yeah, it was more a "ghost in the machine" rant. Some days I just need to wrap it into a conspiracy theory and spit it out.
;:)

Wiz,

I like Jesse's quotes. Too bad he died broke.
 
Quote from pspr:

I have a system that uses some home made indicators combined with support and and resistance levels. It provides a few great entry points every day and very few signals should turn into losses.

My problem is that the market is looking over my shoulder. It knows when I take a trade and knows where my stop is placed. I'd swear the emini trades thousands of contracts just to go right to my stops then snaps right back and continues to make the move I expected without me. If I put in a tighter entry limit price to enter then the market teases me by trading at my price without a fill before it takes off without me.

If I chase the market at all, it invariably just sucks me in just to turn and go hunting for my stop.

If I widen my stop out the market will break any and all support levels to reach my stop. Regardless of where I put my stop, tight, loose or in between, the market can almost always find it. It wouldn't be so bad if after hitting my stop the market the market would keep on going, but NO. It likes to hit my stop by a tick or two then scream back in my direction.

So, why don't I just put my entry order where I would place my stop, you ask? Tried that. The market knows its an entry order and not a stop and never trades there.

Once in a while the market does what I expect for a while. Then it wants to make sure I didn't move my stop to break-even and will run back to my entry price just to get me out. If it fails to trick me with that maneuver, it will screw around after moving just a little making what appears to be topping action forcing me to grab a quick small profit. Within moments of getting me out, the market continues its move without me. If I fail to grab the small profit offered to me the market will turn against me and turn that small profit into a loss or break even if I'm lucky.

Am I the only one here that the market is gunning for? Do others find the market knows when you have a position and knows where your stops are? Or are you the one who is looking over my shoulder and using me for your personal ATM?
More...


This is refered to as the highly technical condition more commonly known as SNAFU.
 
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