No, I do not check my watch but my trading platform timestamps all orders when I place them on the DOM. I see now what you are saying... I changed my chart setup to volume based bars and it is a little different.... something to think about...
It is heading to volume/price, not time. Accumulated trades on the ask will either drag the price up or it will not, in which case you will get a good move south. accumulated hits on the bid will drag the price down or it will not, in which case the longs will enjoy a good move. Volume/ price is a clearer basis for trading rather than price/ time. But each to their own. There are many ways to trade profitably. I was only offering a different chain of thought, in response to your thread. The level that you find yourself on is typical of progress. One way or another I am sure you will break through it.
fearless - thank you for this info... Question - do you have any website links that breaks this down more that I can look at? For example, I like to trade on a 3 minute chart. How many contracts would I set my template to so that it moves similar to this timeframe? Not sure I said that right, but I just like the smaller timeframes, but can see the added value of a volume bar. Thanks for any help!!
fearless - well, you got my attention which is not easy to do. I started this thread to hopefully get a few more views outside of my journal: http://www.elitetrader.com/vb/showthread.php?s=&threadid=82603 Thanks again fearless and since it sounds like you are trading these, I would appreciate any & all help!!!!!!
Sorry BF I have to dash for a few days. There is plenty of info on vol bars on ET and the net. Chase up ProLogic, his argument opened my thinking. I think we all struggle with this one. " Stay focused with an open mind" Dont worry, it has me buggered at times as well.
This is me. Absolutely me. And it drives me nuts. I did it again today. Entered an ER2 short at 795.7 at 1:00:25pm CST. It went a bit against me but then came back for a bit of profit. It then bounced back up reducing my paper profit and I exited at 795.5 at 1:08:26pm CST for a whopping 2 tic profit. It then flopped around a bit (but never coming close to my initial stop) then fell to a low tic of 794.1 or 16 tics. And I took only two tics out of it. Cause I watched the DOM too. Time to let the preentered orders in NinjaTrader do its job!
Welcome to the group Steve. Everyone, say 'Hi Steve'. I am the founder of this T.H.A. - Trigger Happy Anonymous. Don't worry, you can feel comfortable here and nothing will leave this room. So far, it has really helped that I don't see any P&L's while trading. You may want to try this as well OR like you said, let NT do what you are paying it to do...
I took off the $ P&L and just have the tic P&L. What I've got to do is adjust the target and stop, then just stand up and let it work. I either win or I lose, but not short change it. Easy said than done. Ever see 'Boiler Room'? When he was learning, Giovanni Ribisi asked his closing question on the phone and his coworkers smashed their hands across his mouth so he wouldn't talk until the prospect responded... That's the concept I need to develop.
I agree, we are both in the same boat here. Just need to set your stop and profit and let it go. Either you win or lose, but all your winners actually reach their potential. 2 ticks is not going to cut it!!