hello Stephan31. Interesting thread so far about your trading and life. How's the work and life this week? any updates?
And he's back!!! Rennick that is. That 'ol bastard still provided one of the best goddamned articles I ever read! Beating down a dirty Korean mocking his fellow traders on the day of the '87 crash! http://www.elitetrader.com/vb/attachment.php?s=&postid=1003102 And he took down those dirty N. Koreans back in the early 50's. As my father did. Respect. Have a shot and a beer for me (I am 'dry' this week; gotta get leaner--18 and 19 year-old tight wet bitches like 'em skinny and ripped these days; go figure)! Young girls just want to 'know' things; it is I that shows them the way~it is what I have to give. peace hedvig
Hola J12! Welcome. Um; I am 'dry' this week and no 'drinking of my drink' after work {but I do 'take a hot tub}. Thus~proper lubrication for typing {I am not the fastest typist} is not available. Patience; I promise an illuminating introspective & elucidating post on Friday after I have taken a double dose of 'green dragon.' http://en.wikipedia.org/wiki/Green_Dragon_(drink) http://greendragonsoda.com/ Peace & Blessings! The Eponymous Archbishop Hedvig Von Dikkeman V p.s. Can I now drink some protein and go over my swingtrade charts without people updating my fucking thread??!! Just kidding. I welcome all inquiries from both young and old to the most holy of holy threads on ET.
I am enjoying your thread, very nice mix of psychology and method. How do you trade momentum breakouts, what TF etc.?
PTT, Glad to hear that; all readers will be taken deeper into my mind over next several hundred posts~of that I am sure. Because you enjoy going 'deep' in the mix; I'll address your question on Friday. This week has been very good to The Archbishop Hedvig; surely, the supernatural cosmic dust is raining down on me, for what reason--I have not a fucking clue! It is a privilege getting older and I don't question it anymore. Swingtrades in forex and commodities/futures are in 'outlier' profitable mode and I'm having a 'glorious' week of intraday trading where I hit 6% roi both on Monday and Thursday and only worked 2.5 hours each of those days! Bring on those 'butt-boy' Greek elections next week; I am going to power 'TOP' the next swing-cycle high for a trade-able move to the downside in indices WHILE I keep adding to my Euro swingtrade longs and am looking for a pullback re-confirmation sell in Crude Oil and looking to add to my 'yellow metal' position; among other trades. High school just let out for the summer yesterday and today; I am scouting the local hangouts where the youngsters congregate--my missionary work is never done. Peace & Blessings! Archbishop Hedvig Von Dikkeman V
Hola all! Another all nighter (for swingtrades and I have to watch Europe all <del>fucking</del> night for one of my sissy trading partners because he wanted to take tonight off). I am NOT trading intraday trading on Friday {I have enough on my plate with swingtrades in S&P, GC, 6E, CL, ZS & ZB}. Important indications going into Monday 6/11. Enough of that. Someone wanted my weekly intraday results. Here they are {after the extended rant}. Finally, I'll respond (yet again--because I posted it a few posts back, but not in ultra-custom detail) how I trade 'confirmed' breakouts that a retarded monkey could make money with if he doesn't overthink it and f*ck it all up by using the 'lizard part' of his/her brain OR thinking about the money. As I wrote a post or two back; cosmic stardust of 'peace & love' rained down on my anointed head of luxurously fine, limp & 'Norwood 2' hair throughout the week. The market let me go 'deep' 2X's this week with 2 days of 6%+ days (an unusual development). Though I am all about 'dust and nothingness'; even I am grateful for this 'manna'--I will feast on the bounty this weekend with drunken young girls getting their 'base' tan on Friday/Saturday & Sunday. We just (well, I did) celebrated my 2nd favorite holiday of the year here on the lake; the last day of high school--now we kick it up a notch! This is what we get up in the morning for; that and to earn a few shekels buying & selling money. 16 trades 13 wins 3 losses Win Rate 81.25% Profit: +13.996% roi on the week {I under report the actual roi% because I choose to do so} Avg. Risk per trade was $1059.97 {0.933% per trade--just under 1% on avg.} Expectancy per trade was +$1,142.92 I'll post after I am done working early Friday a.m. and I have some Green Dragon pulsing through my veins. Time for another espresso as I power through an all nighter {only do them now about 4X's per month}. I ain't 25 anymore, nor 35 nor even 40 anymore, but I know how to work through the night to cover for a valued 'partner' who needed a night off. peace hedvig
hey Stephan. Enjoy your weekend! Go find some chick to celebrate this successful trading week Look for more of your stories about trading and life come next week.
Comcast/X-Finity; my love/hate relationship with them 'on the lake.' ----------------- My inter'webs' went down today w/Comcast @7:12am est in the middle of a MONSTER 6E trade {just kidding, only a regular intraday trade}. So here I am, skinny, somewhat slightly ever so slightly-balding [but fighting it with modern technology] old & pathetic; looking like some kind of demented douchebag cursin' a mean streak as I attempt to connect the 'prehistoric' DSL 'connect' properly 'round 7am--oh hell no! I was amped on my personal 'trading speedball' {Green Dragon 'THC concentrated tincture' and Double Espresso}--no 'lines' for this older trader anymore; so, I was back up and running within 10 minutes. Here on the lake (right on the beach in/@/around Grand Haven, MI where the hot young tall skinny 'white girls' are HUNGRY for knowledge) the living is easy and I have access to hot 'big-lip Nubian' women to the north ('hood of a town called Muskegon Heights) & a bit east (whorish white college christian skanks in Grand Rapids who can be as dirty or as clean as I want them to be; daddy's girls who are needy and are hungry for daddy--and they all end up calling me daddy because their wants are insatiable at this age and stage of development) & to the south (more moolie meat in Benton Harbor); well you get the picture. Wooh! That paragraph took alot out of me; nah. Oh yea; I 'taste' the rainbow of colors/creeds/sexual orientation & stuff--so I write out the 1st adjective that comes to mind when it comes to the 'meat' that I pursue. Good day today; +2% on LARGE size. I'll get to a few private messages and queries in the last week shortly; for now I am doing my speedball (drinking my drink and my THC 'tincture') & need to go soak these bones and 'take a hot tub.' Then it is rollin' w/'cunt on wheels' {my 1/2 sister; so I can call her that} in the jeep (she has the day off) and wants to perv on biker dudes while I proposition the younger little white girl tourists in town camping on the beach w/family or friends and whatnot. Peace & Blessings! The Eponymous Archbishop Hedvig Von Dikkeman V
***Note*** The methods I use are simple and effective when intraday trading. NOTHING new; same thing everyday. I do have a positive expectancy because I am able to hold through a bit of 'backing and filling' alot better than 95% of daytraders. I consider my real edge to be my trading discipline and trade management and proper position sizing and my absolute indifference to any and all trades I execute throughout the day. I suggest those with a potentially profitable one or two trading setups to use volume charts intraday and sim trade that setup(s) 800 times; then you'll KNOW if you have an edge. Don't ever piss away money because of FEAR of missing out; nope. That was my 1st post in this thread. As everyone knows by now--my urges to overtrade are satiated by a) Teeter Inversion Table therapy (when I am itching to take a trade that isn't 100% in accordance with my trading plan) b) Having fun with young women on a near daily basis Good points {1 & 2}: Not from me but from an ex-floor trader. 1) Don't confuse bias with emotions. You can't eliminate your emotions, nor should you. You just have to keep them from becoming destabilizing. If you don't feel the pain of a loss then you will become desensitized to losing, and your financial survival will be tenuous. And, in many ways large profits are even more insidious, than large losses, because they cause overconfidence, and a false sense of ability. The last thing you want to think about when you are learning how to trade is how much money you are making. What you do want to think about is how to maximize the chance of making money. Once again, its about the process, and not the outcome. The Trader's Attitude Focused (on the trade only) Confident (in your methodology& risk management) Objective (Unbiased) Patient ( to maximize profit) Disciplined ( in your trade management) Emotionally Stable ( treat winning and losing the same) Flexible (admit when you're wrong) 2) Patience Patience is a subject whose importance is not to be underestimated, nor taken for granted. The primary reason for my success as a floor trader was execution edge, reduced commissions, and access to customer order flow. The major factor that slowly eats away small retail accounts, is not that the retail trader is inevitably wrong the market, but that they can't stay ahead of their own transaction costs. This takes into account commissions and execution slippage. As a pit trader I was on the other side of the execution slippage, and commissions were a non-factor. A theme that consistently runs throughout a lot of novice threads is the overriding concern to make current positions more likely to succeed, always to the detriment of long-term performance. Once again, its the the natural tendency to maximize the number of winning trades, rather than the desire to maximize the chance of gain. These instinctive preferences run counter to perhaps the most fundamental principle of successful trading: Cut your losses and let your profits run. Asymmetrical responses are common in trading and are often counter-intuitive. If the price moves close to a stop point, the trader will automatically think about moving his stop out to give the trade a little more room, but will not allow such flexibility with a winning trade, and will prematurely book the profit, before it turns into a loss. Decision theorists have demonstrated that people consistently prefer to lock in a sure win rather than accept a gamble with a higher expected payoff. Unfortunately, what works in the short term is nearly the opposite of what works in the long term. The market likes to lull you into a false sense of security of high success rate techniques, which in the short term might work, but which often lose disastrously in the long run. The trader often compounds and exacerbates the problem, because their natural instincts will also mislead them in trading. These tendencies will make it increasingly more difficult to overcome transaction costs, especially when trying to scale your trading. Therefore, the first step in succeeding as a trader is reprogramming behavior to do exactly the opposite of what feels good and comfortable, and to do what is correct and right. Patience is certainly an integral component in the formula for achieving this result, if not the most important. Its acquisition was the most important factor contributing to my successful transition from the floor to screen based trading. -------------------------------- PTT, One of the specific approaches I use to trade 'momentum' breakouts is with a) Keltner Bands Offset multiplier 0.8 Period 10 I use 4 time frames (volume) and take the Momentum Breakouts on the middle timeframes (intraday trading). For example the 3x stochastic uses data points that go back 3x as far as those of the normal ("1x") stochastic. The idea is to trade in the direction of the longer time frame indicator but trigger off of the cyclic highs, lows and reversals of the shorter time frame indicator. I need confirmation on the 'bar' that 'floats' above the keltner channel completely w/ a timeframe 3X's higher w/confirmation of either stochs or macd. One can either then buy @market for a 1:2+ risk/reward OR wait for a 45% pullback on the 'breakout 'float' bar OR one can wait for a pullback of the 9/30 ema's and require a CLOSE below/or above the 9 period ema (w/30 ema agreement); either buying or selling. Check out http://www.trading-naked.com/Setups.htm & www.efuturevision.com Ask Rick Monteith about the 'OKC' (outside Keltner channel) trade setups. I could show anyone interested all of this but believe me the 2 websites I referenced are MUCH easier to get more background on. Besides, every trader takes 'approaches' and makes them their own w/ a solid 'framework' built around any positive-expectancy trading method or pattern. 'Trade what you see' and MASTER one setup at a time; before you know it you'll be walking out your door w/some shekels in your pockets nearly every day. peace hedvig