P&L for Week 3 loss -$3066 Combined P&L since the start of the journal so far: loss -$1414 After 3 weeks of posting here, I realize that what I was doing is not working and I need to change. I\'m going back to sim trading, lots of charts reviewing and more backtesting as well as working on more self discipline. I\'m also going to switch to NQ.
You should be trading the minimum size until you figure out what you're doing. Why raise your risk to 2 contracts unless you're more concerned with making money instead of paying the lowest tuition that you have to pay in order to learn how to trade? Anyways, I'm done with suggestions and help. I'll check back in a few weeks. Good luck to you.
thanks, I forgot to mention this in my previous point - I will be posting a summary chart with my entry/exists when I figure out what software does it best. My current broker TOS does not allow me to see my trades on the charts, so I am researching another broker for sim trading. Looking into eSignal and Ninja trader. I fully realize that I am overtrading and I need to reduce the number of my trades to 5-7 a day and catch bigger moves but doing it is a different story and I will work on in it my sim. Also, I am changing my broker so I can have more trade analysis done then TOS. Instead of doing it live, I will be posting a summary at the end of the day with a chart of my trades and commentaries. I will write and save the commentaries locally as I trade and summarize them and post them at the end of the day.
http://www.trading-naked.com/library/Steidlmeyer Intro to Market Profile.pdf try reading this ,learn how to draw the chart,start hand drawing for the next 6 months, you'll notice there are only about 4 types of trading days ,and 3/4 of the time it's one type,you could learn by osmossis while you are watching other things,the advantage of hand charting is you will see the beginning to end of the day evolve on your page,after so much repetition, your hand will tell you where the market is going, not for everybody but it helped me compartmentalize the market when i was new,really simplified things...i'm still using it
When I was trading this last week, trading felt increasing like a battle, I need to change my attitude about trading to something like I have seen on somebody\'s journal: my strategy = trading like water calm and tranquility water is soft yet very strong in trading, we need to be calm, cool and flexible like water water is emotionless but extremely strong.. drops of water made an ocean so In addition I will be trying to meditate daily and hopefully will make it my routine. This should help with ego too.
BL, One additional characteristic of water When water is poured into a receptacle â it takes on the shape of that receptacle Like wise pour your self into price â and become one with it Lot less stressful⦠and infinitely more profitable that way fwiw What ever battle we experience â originates, and is perpetuated from with in Market doesn't even know we exist - no way it can fight us (but it sure can feel like it sometimes - that's just our thoughts playing games with us btw) RN
That is not a valid argument. "A HFT account i say average $5 million. They use that leverage to push the es 2 - 3 ticks. " But another HFT account with 10 millions TRADING in the OPPOSITE direction can push the ES 4-6 ticks in the other direction according to your format, then the real question is WHICH direction you choose to go with. Therefore even you have a 5 million dollar account, if you trade OPPOSITE to the direction/trend of the 50 millions or whatever the biggest sum of accounts, you still lose.