Question for Grob/Hershey...

I have struggled for what seems like an eternity to get something, anything, that works (for me) consistently. Many times I have questioned whether I should be pursuing a path as a trader or not. Your comments here have encouraged me immensely - thank you!

I had a bit of difficulty with this exercise; initially I was unsure which exit items were conducive to growing my account. When I realized this fact, it spoke to me more than anything else. I need to identify and define my exits. Monitoring is indeed a problem, and I believe its root cause is that I don't know what I am looking for. There were other conclusions also. From these, I generated a list of tasks/goals to work towards overcoming what I noted. It's a good exercise, and I intend to incorporate it into my trading system. I hope the results are useful for the others, and similar to the conclusions you came to.

Thank you for taking the time and effort to help me along - I appreciate it.

 

For comparison.

 

very cool exercise icarus.

 

Thanks much!

On first pass I think I see a lot of predicting that I did. Another issue to address.

On a side note, my comment about "wanting to be a hairy trader" was a bit of Hershey Humor.

See:
http://www.elitetrader.com/vb/showthread.php?s=&postid=304666&highlight=hairy+trader+bar#post304666

I don't know how Jack does it, but some of the goofiest things he says gets etched into my brain.

 

what does he mean by 'hairy trader'?

 

Oh Yes. On top of his trading expertise Jack is a very good poet and the reason he is so good is that its pure free verse without rehearsal or forethought.

 

I originally thought it was just his humor. The more I think about it though, he is also saying that he pulls the trigger ("hair trigger") when the market says to go.

Could be wrong. Been known to happen before

 

"Pardon my friend; he's a little slow" Llyod Christmas, Dumb and Dumber

I'll preface this post with the statement that I was very stupid today. I should not have taken one trade until I had at least come up with an exit sequence. Why? I guess I thought I could continue doing what I had been doing, and come out ok (path of least resistance.) So after today, I'm back into the lab until I come up with some resolutions to the issues I brought up in my previous post.

Iterative refinement.

3 trades, 3 losers.
Gross: -2.0 pts

 

Here is some further excellent feedback I received from Icarus in a pm. At his encouragement, I'm posting it here.

 

It would be good to see a chart with your lines drawn.