Develop and follow a written trading plan

Discussion in 'Trading' started by Chuck Krug, Feb 20, 2018.

  1. volpri

    volpri

    Could be. Probally is LOL
     
    #141     Mar 1, 2018
  2. jinxu

    jinxu

    Either way that sounds bad. Alarm bells would be going off in my head.
     
    #142     Mar 1, 2018
  3. volpri

    volpri

    I travel alot. Have a motorhome. So I am on the road alot. However, even when home I trade on a laptop. It is all I need to trade.
     
    #143     Mar 1, 2018
  4. volpri

    volpri

    Why alarm bells? I travel and trade. Why is that bad?
     
    #144     Mar 1, 2018
  5. jinxu

    jinxu

    Personal experience. Addiction is an emotion. It sounds like you are getting addicted to the high win rates and taking on risks

    Traveling and trading on a laptop I have no idea about. When I did an analysis of this with my own trading system, I've determined that there is no way you can go mobile and trade effectively. If you were a swing trader it would be possible. Buy from what you've been posting you are more like a scalper. Again have absolutely no idea how you can trade on just a laptop but kudos!
     
    #145     Mar 1, 2018
  6. bone

    bone

    Getting caught up in arguing about descriptive semantics is a distraction IMO.

    Generalizations are usually lacking when it comes to descriptors about successful trading. But anything a trader can do to refine and focus his or her approach to the market is a very good thing indeed - and a written plan is for many traders an excellent idea. I'll put it this way: there's no downside to it as far as I can tell.
     
    #146     Mar 1, 2018
  7. volpri

    volpri

    Funny thing. I see it just the opposite. I see high win rates as less risky than low win rates. At least one is winning. I am an intraday scalper that trys to get at least 1 to 2 points in the ES as a min scalp or 5 to 10 points min scalp on the NQ. But will sometimes go for 4 or 8 points in the ES and more in the NQ depending on the context.

    I don’t have any problems of any consequence trading on a laptop. An occasional dropped signal but when my trades are placed they are usually bracketed with a PT and a SL so if signal is dropped I am safe as my oders are resting on the server.

    I don’t know about your analysis on your system but the way I trade I have no problem trading mobile apart from the occasional dropped signal. Take today. The below is a 5 minute chart. I traded 12 NQ contracts traded in a 45 minute period while traveling down the highway at 65 to 72 MPH most of the way (of course my wife driving LOL). Profit $1245.00 See the circled highlighted area. All those trades took place in that circled area. Where is the high risk you speak of in these trades?

    Mobile works for me. I simply don't need four big desktop computer screens filled with indicators to trade. I use two MA's and price action. That's it. Once in a great while I may take a peek at volume but it is rare. No peek today!

    Good luck trading. It does seem like if I can scalp while mobile you could swing mobile. I don't quite understand why not?????

    There is a difference between an emotive addiction and being passionate about something. I am the latter. I really ..really..really LIKE trading and the challenge.

    NQ  3-1-2018 seven.PNG
     
    Last edited: Mar 1, 2018
    #147     Mar 1, 2018
    slugar likes this.
  8. jinxu

    jinxu

    Are you trying to tell me you had and took 12 trading signals in a 45 minute time period using that chart alone???
     
    #148     Mar 2, 2018
  9. From the chart, I computed the elapsed time as 150 minutes and roughly 32 bars...so he does appear to be using 5 minute bars.
    What's strange is that his average-time-in-trade (ATIT) is much lower than that....I think.
    45 / 12 = 4.5 ATIT
     
    #149     Mar 2, 2018

  10. This guy uses 1 minute bars....3 tick profit target, 6 tick stop loss.
    Interesting.
     
    #150     Mar 2, 2018