TonySanDiego TRIES to trade

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Hi Tony....I have to say I agree with DonKell (except about "Don's style" :-) )...you really need to step back and get an objective view as to whay you're doing. My only "push" is to do the openings in such a way that it should help pay for your learning curve. My "brand new" recruits are doing fine with the openings, and are (of course) giving some back while they learn more during the day.

Perhaps, rather than "charting" ...try keeping a journal of your trades....mark such things as: 1. Up/Down market? 2. Up/Down sector? 3. Spoo's in bottom/top 1/3 of the chart. 4. Spoo premium/discount.

If you can't get the "feel" for good entry and exits, you may need to be more mechanical in your decisison making.

All the best...

Don
 
Hi Tony,
On all of my above posts I forgot to add "all the best to you", as did Don Bright.
I have your Journal marked to remind me to come look at how you did that day.
So believe me when I say, all my verbiage is meant to help, not hurtfully criticize in any way.
We all have to find our own way at this, in a very tough environment of daytrading.
I identify with you for several reasons, some of which are I believe were near the same age, I have had back fusion within the last several years, I have been stuck at times wondering what the hell is going on.
So good luck to you. It takes guts to post your trades daily as you do, so everyone knows. I think most of the posts on your journal are from folks who want you to succeed, even though at times it must be tough to read the remarks.

Good luck to you. Keep a positive attitude. We are all learning or should be, every day to become better traders. You are not alone. Thanks for your posts.
Don
 
Thanks guys,

Good remarks all.

Actually, I am doing well in opening orders most of the time.

Got stuck just a bit today, but everyday isn't going to be a winner.

Will post todays trades in a bit.

Thanks again for taking a look.
 
Like you, I'm a struggling trader, just been at it slightly longer than you. I've just now come across your journal and have caught up.

I've noticed you've been cycling through different entries, exits, position sizing, and vehicles. You also mention several times about leaving a lot on the table, needing to hold good trades longer, etc.

Have you tried changing your time frame?

After watching 1 and 2 minute charts for months I came to realize I was not cut out to be a "fast-twitch" trader. Anything below 5 minutes caused me all kinds of consternation, self-doubt, second guessing, and overtrading. I've done better looking across the 5,15,45, and daily. I prefer to scout ahead for possible entries, look at the risk/reward ratio, and then buy/sell.

Then I duct tape my arms to my chair until my stop (or target) is hit.

Good luck in your trading.
 
Ambushhillbilly,

I am still cycling through several things.

I will try to post a chart later showing another futile day. Am changing my trading vehicle again. Just can't trade the SPY blind, even though I keep coming back to them like a moth to flame.
 
Another awful day. Not so much the market, but my trading.

Actually the market was awful too until mid afternoon, by which time I had been clubbed enough to be too gunshy to benefit.

I chased when I shouldn't, and didn't when I should have.

I am trading the ETF's as a prelude to the e-minis, but I can't seem to be profitable in them.

I thought I was "getting it" there for a while, but I am backsliding badly right now.

I will have to forget about the shitty fills in the ETF's, and just hit below the bid, and above the offer on ISLD, and not hesitate trying to "work" a decent fill. #@!%#@!! SEC.

If I can be even modestly profitable in the ETF's, then I can figure I will do better in the e-mini's because of the decent possibility of fills.

Here are the charts.

QQQ here, SPY next post.
 

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Tony,

Please take this in the spirit intended - one new trader trying to help an even newer trader.

The SPY's gave probably the easiest trade I've ever had today (10/24). They opened up and looked strong for the first little bit, but then several things caught my attention:

1) We were (again) oversold on 60 min. But we were also oversold on the daily and 15 min (using stoch on the intraday and RSI on the daily).

2) The MACD was showing a strong divergence compared to the high of 2-3 days ago.

3) On the 5m and 15m the price was forming an almost perfect triangle pattern throughout the morning.

I attached a chart (first attempt so pls cut some slack).

SPY could have broken either way coming out of that triangle, but most evidence led to going short. I sold about 90.20, trailed aways behind it, and exited late in the day around $2 down.

I fully expected it to retest 90.50 or so, but it didn't. My initial stop was just above that.

I make just as many bad trades as good ones (typically lose about 10-40 cents). I'm barely profitable even with a decent win rate because I typically bail early on winners. Full Disclosure: I did mistime an earlier SPY short this week and was lucky to scratch.

However, the last few months I've done much better since I backed out my time-frame (also look across 2-3 time-frames). I'm not there yet, may never be, but I am so much more comfortable in my trading now.

Your situation reminds me of mine just a short time ago. Please consider taking a step back if you feel it would better fit your temperament.
 

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You know what's bad about posting a journal? You pour your heart out, and well meaning people try to help. They give you advice - advice that sounds good. And it is good - for them. You have to find something that works for you, and then you have to stick to it like glue.

Now this is coming from a guy who changes his methods more often then his underwear - but it's true. If you don't believe - really believe - in what you are doing, you won't be able to do it.

Tony, you need to slow down. Maybe even take some time away from all of this. You are slowly, but surely imploding.

You are a sharp guy, you can do this, but you've got to come up with something - anything - that works.
 
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