Yup - up to JS to decide fwiw; J..., Slugar..., and I - have been working together for awhile - we don't see the same..., nor trade alike And..., I fully expect these two gents to add stuff I haven't even thought of..., or don't use ======================== But - anyone saying something doesn't - that I know does - I will counter every time RN
Then we play the who can find the most examples of DoJi's for instance that work compared to failed, people only spot the DoJi's that work after the fact and totally miss all of the fails. To thin for me to risk money against for sure.
TD --> I appreciate your encouragement and also that you try to help me with my trading. Thank you. Many of your ideas for improvement include changes. You've offered different indicators, different TFs, and different methods (momo). I've listened and hopefully explained that I'm doing PA. I want to learn price action. TD--> you say I need to think for myself. I couldn't agree more. I'm constantly tossing around PMs and I am learning at every moment. Honestly, currently I'm back to annotating charts by hand. Simply studying/observing PA. NO MATTER what you, RN, S, or JAS say, I'm going to find MY approach, not theirs. And I'd like to say I'm actually getting better. Only because I'm listening, growing, and making changes. I don't take anything people say and blindly act. I immediately question any advice to ensure its accurate, and in -line with my objectives. --> RN. Also thanks a lot for your help. Some of the things you advise have really helped me, and I've just begun. My dream is a daily PnL you offered to show. I too want that to be an average day. ====================== I agree, let's keep this about me. I listen to everyone's viewpoints and decide what is helpful, even if the helpful is hard for me. I don't know if I mentioned this before, but annotating charts with a pencil, bar by bar, is quite educational, if you're intentional about it. See you guys tomorrow. I have the morning to trade. I'm not sure ill trade, because honestly I'm still developing a method/approach. I annotated last weeks first three trading days, and never saw a break out pullback. I saw many other signals inside context. BOPB was never one of them. How can one day trade if their signal doesn't even appear once a day? see you tomorrow -JS
This reflects a level of maturity..., discipline..., and patience - very few aspiring traders possess It a very good (and wise) idea Mkt will be there when you're ready - and - with the Holidays..., EOY..., EOQ looming / decreased volume - trading this time of year isn't easiest ===================== Next week very well could be my last trading till 2015 - hard to focus simultaneously on Family / Holidays..., and work - effectively Mkt ain't going anywhere - and - I don't want to miss Santa ============ Note on your method / approach Don't make it overly complicated It (your chosen signal) does need to appear during the day But - whatever it ends up being - it will work..., and..., it will break down (no matter how complex..., or simple the signal) - so may as well KISS - AND - give yourself less crap to think about Our main job..., is to always manage both (when it works..., and..., when it breaks down) to the very best of our skill / ability Which is one reason (of several) for creating a trade plan for each trade - then following that plan to the letter RN
Agreed on that part, the simpler the better and the better, it will work better long term aswell generally.
LOL. Please don't miss Santa. That's always a bummer. I am making it complicated, and right now I'm annotating charts, finding a lot of good TA info. Bought Volman, I'll study that. However, I'm racking my brain. I'm working on the head, trying to understand why I'm making this so damn difficult. I'm even back to making those issue/because lists(I imagine I'll be doing these lists often), which are helpful. But it's hell. You have to dig. You have to look at the ugly and accept it. Then change it. I am going to KISS, and work on the methodology/plan. I'm free wed morn and friday to trade, but really I'm still working on developing a methodology/plan so I'm not sure I'll SIM again. I observed today, but really practiced PA. In intra-day scalping, I've found it hard to completely create a trade plan for each trade quickly. Quickly enough, so that your plan is created IN-TIME for you to enter. Did you find that as a struggle in the beginning? I imagine, with a solid PA understanding, and practice, you instantly know your stop level and target objective/management technique. -JS
No doubt My thought - it all about that damn uncertainty - that is the mkt / that is trading Until we completely accept it - we'll always be wondering if this setup / signal / indicator (I know you're not using indicators - but I'm using it as an example)..., or whatever - is enough Will it give us ample trades Will it give us ample winners Will it give us the right trades Will it minimize the losers Maybe if I add just a little bit more to it Many times traders get on the never ending loop..., of trying to find a better indicator..., trying to find a better set up..., trying to find just a bit more information to incorporate - that'll give them just a little more insight..., more winners..., fewer losers Pretty sure you know the drill - and yeah I went though it as well (damnit somebody knows - and I need to figure out how they know.., so I'll know to) It all about the uncertainty - which is why..., imo..., simpler setup(s) are the better choice (less for me to think about and likely screw up) My signals are mind numbingly simple It is a very effective tool Small wonder trading is the most personally intimate endeavor there is (imho) KISS = perfect On SIM..., or observe = perfect..., take it as it comes..., and at your pace Believe me - you want to spend the time and get it right as possible the first time Because - if you get it wrong - it takes 4X the effort to correct and redo I know this - and it is a bitch..., not to mention frustrating as hell (1 step forward..., 5 back) Yeah - it is a PITA at first - but its the very foundation of consistency At first - I missed a lot of trade because I could not create a plan fast enough It takes a few things falling into place A solid understanding of PA (like you said) Practice of creating a plan for each trade (with practice comes familiarity..., efficiency) And lastly - focus - and I don't mean half assed focus..., rather complete..., heightened..., and total focus When focused on PA - it a lot easier to quickly formulate a thesis (which is a trading plan) about trading it (PA) Sitting here thinking while I type..., our brain also needs to be trained (groomed) to think on a different (heightened) level I recall a time when I couldn't keep up Then a time when at the end of a session - I was totally mentally drained (literally needed to take a short nap after the close to regenerate) There was also a period of time when I seemed to have a ceaseless headache Now - it the opposite - trading actually relaxes..., centers.., and quiets my mind Often..., after a session now - I wonder where the heck did the time go RN
Yes, I am struggling to accept this uncertainty even though I know I should. It's so not human/natural...we fight it. We want control. We want to know what is going to happen next. But I know I can't know that. I can't control that. I can however, like you said, have a simple signal, and a plan for when it works, and when it breaks down. I swear my wife thinks I'm losing it. I'll be in the office literally talking to "whats-his-face", and then he also answers back. AHHH It's strange how I can be more honest there. It's amazing how you've arrived to a time where you actually feel calm, and remain calm/centered/focused and the session doesn't kill you. For me right now, that's almost more impressive than making money. But, we gotta make money. I imagine there's people who never learn this skill, yet trade, only to wreck themselves because of the "over-emotion". No updates. Writing/Developing approach/plan, it's going to take time. I'll be here. THanks, JS
Our Family can love us..., can support us through thick and thin..., but only a trader can truly relate / understand another trader Hard as I've tried to share with my Wife - she still.., at times - gets this look of wtf are you talking about / where the hell are you coming from I've learned chuckle (on the inside) and roll with it Not so amazing - simply built a friendship with price based on complete honesty and trust First (and hardest) step - I had make friends with my self By being 100% honest with my self By learning to completely trust my self By accepting my self I'm a very...., very..., long way from perfect - but then..., I'm okay with being a very..., very..., long way frum purfekt RN
Quick update: Santa comes tonight and I didn't make cookies yet... I'm working on my approach still. I've enjoyed getting to know PA better annotating charts. Been talking with some other friends who have great ideas, and have been really helpful. I'm ready for 2015 to be great, and I'm hoping to have everything ready to go in the new year or close to. Thanks everyone, JS