ES Journal - 2017/2018

Discussion in 'Journals' started by Buy1Sell2, Dec 23, 2016.

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  1. speedo

    speedo

    Correct, it is not our job as individual traders to "move" markets although collectively we "make" markets. Our job is to recognize the likely direction of markets (the institutions leave no shortage of clues as to their intentions). Our rules manage those expectations....whether our assessments of direction prove right or wrong, trade by trade.
     
    #341     Jan 22, 2017
    Crashed and Buy1Sell2 like this.
  2. algofy

    algofy

    @pinabetal lets just agree to disagree and move forward.
     
    #342     Jan 22, 2017
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  3. pinabetal

    pinabetal

    Hft's are responsible for about 70% of daily vol in say the ES, other institutions such a hedge funds..banks..pension funds...etc make up about 25%. We, the retail traders, make up about 5%. The markets are a battle between the bullish institutions and the bearish institutions. They are more concerned with taking money from each other. They care very little about us. We are potatoe chip money to them. And, as you say they cannot hide what they are doing. The PA on the chart reveals it all. However, it is even uncertain amongst them who will "make" the market. But their footprints leave us with some probability but even then they can make footprints and backtrack in them so to speak. We cannot know all the tactics they use. There is alot of uncertainty. The charts simply reveal who is winning. If we wish to be profitable but have to go with who is winning regardless of what our rules tell us. Rules can only be general guidelines at best. Rules cannot "make the market". They can be helpful to guide us in our interpretation of the market but the moment we "see" they are wrong in a particular circumstance then the only thing to do, the correct thing to do, to be profitable, is to cast them off as a heavy anchor and go with the flow. Put another way.....the market is always correct. Our rules are often times wrong.
     
    #343     Jan 22, 2017
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  4. pinabetal

    pinabetal

    Ok. i gotta go algofly..however, i think we may be agreeing in many many ways. But there is uncertainty.
     
    #344     Jan 22, 2017
  5. Buy1Sell2

    Buy1Sell2

    Rules are designed to win over the long haul, not on individual trades. Successful trading is using PRM to your advantage over a long time. Review of each separate trade's results is meaningless. Thus, rules stay the same on each and every trade.
     
    #345     Jan 23, 2017
    dghuynhtu, CBC and speedo like this.
  6. Buy1Sell2

    Buy1Sell2

    Looking to buy here this morning.
     
    #346     Jan 23, 2017
  7. Buy1Sell2

    Buy1Sell2

    Long 10 x m 2261.50 Initial stop 2259.50
     
    #347     Jan 23, 2017
  8. pinabetal

    pinabetal

    Every successful trader trades on the basis of logical rules otherwise they are gambling and trading on emotions such as hope or fear...etc.
     
    #348     Jan 23, 2017
  9. pinabetal

    pinabetal

    Discipline is being responsible to do what you are supposed to do, when you are supposed to do it, how you are supposed to do it, all the while paying attention to detail and doing all the above even when you don't feel like it.
     
    Last edited: Jan 23, 2017
    #349     Jan 23, 2017
  10. pinabetal

    pinabetal

    So what is a trader supposed to do?
     
    #350     Jan 23, 2017
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