Velocity Trader DAX Journal

phoenix_rising · Dec 15, 2003

Thanks Mark.

Baruch · Dec 15, 2003

How much do you watch EUR/UDS, when you trade?

PS. Thank you for this very good thread.

Baruch · Dec 15, 2003

I mean EUR/USD

GoodTrades · Dec 15, 2003

Quote from Baruch:

I mean EUR/USD

It is something I keep my eye on and do think it is important. I should've been paying closer attention to it today. It was a good tell(after the fact).

SethArb · Dec 15, 2003

thanks mark for your answer

it must have been wild trading overnight

it sure was in ES + NQ and FX

0008 · Dec 15, 2003

Mark:

Did you take any psychological training before you start to scalping?

How did you learn to withstand the losses?

GoodTrades · Dec 15, 2003

Quote from 0008:

Mark:

Did you take any psychological training before you start to scalping? How did you learn to withstand the losses?

No, I haven't taken any psychological training, but I have read numerous books on cognitive science which i guess is a field of psychology. I am big into the psychology behind trading, though most of what I have have learned has been through talking to other traders watching other traders, and though monitoring my thoughts when I'm trading.

I learned to accept losses, because its part of the game they are inevitable. Early on I had some big losses that made me sick. I never wanted to put myself in that position again or feel that way again. I learned from them. Don't add to losers, always know where you're going to get out if you are wrong, the market can always go further then you think, don't use too much leverage.

It's Darwinism. You have to adapt and learn from your mistakes or you will become extinct(well your capital at least)

Baruch · Dec 15, 2003

Mark,

What do you do with the open? Do you trade when the trading begins? Or wait to se the opens trading range?

traderob · Dec 16, 2003

HI Mark,
Would it be possible for you to send a screen shot of your level II for dax.
What I get with IB market depth is four lines either side of bid and ask telling the size of the bid but nothing more. I am wondering what you see.
Robert

GoodTrades · Dec 16, 2003

Quote from roberk:

HI Mark,
Would it be possible for you to send a screen shot of your level II for dax.
What I get with IB market depth is four lines either side of bid and ask telling the size of the bid but nothing more. I am wondering what you see.
Robert

here is what I see

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