Yeah! I'm friggin' rocking the market!!! I was long in the morning and almost hit my 1350 COMPX target... the market started retracing and went completely mojo reversing my position shorting all the way!!! Well, it's all talk anyways, I wasn't in the chat room today... ====================== As for my Gann system, I have completed the Pyrapoint(ish) (I feel that I shouldn't say Pyrapoint because I don't round my price numbers to the 100th digit and I don't plan on buying the book) system. It works OK. Simply, it's hit(unbreak) level, then confirm with bar pattern and entry. This thing just goes in and out too much with each level that I can't really filter it too well if I don't use some momentum or oscillator indicator. Still, the signals are what I expected to be. Along with it, I put some Gartley and simple Fib. Retracement inside it. Systematically (Staticly), it's also confusing. Just proves that I don't know much about Pyrapoint and also this thing is discretionary tool. Other than that, I made a Auto-Gann Trendline(Auto 1x1 Angle Pitcher) using the Gann Wheel Code. This actually fits my own preference when trading it. Well, it's nice to have a better understanding of the whole Gann concept by coding it. It gives me clarity and changed my views from 1x1 Angle to a clearer 45 degree Angle. Though, if I say 45 degrees people tend to take it as scale adjustable concepts. What else is there... Oh... I'm using Tradestation for my charts and WealthLab for my system. For all the Pyra and Gann stuff, I use TS. I'm still waiting for WealthLab to add a COM interface to enable me to create my own drawing tools. Then I shall further rock in trading.
I know I've been lagging with my posts. Hey, I wrote in the first post that this journal's going to be very moody. But thanks for the encouragements. So... I'll write my rants on speed reading. Between this thread and the previous one, I've got a PM about how they've started speedreading for trading purposes and they want some "wise (ME??? LOL...)" insights about it. Well, well, well.. so here I go... Speedreading is pretty much an auto-(something) process of the brain. Just like driving, it can be done sub-conciously. Conciously it can be done too but brain works in a favorable way where it remembers everything they see, sub-consciously. Some might disagree but it's true. Our brain remembers every bit of sight since we are all born. Then why don't we remember conciously? Well, that's because of our memory recalling process. We only can recall what we find to be significant. Also, the recalling process only recall 7 figures at once. There is a limit to it. The recalling process works in funny ways like the neuro-linguistic systems, we have a pre-determined "bias" which we want to process. Get it? We see all things but we recall and process what we pre-determined. So what speedreading is, is practicing to recall significant information of the book. When I say figure, there are 5 different characteristics. Its basically the 5 senses we have. When most people read they recall 7 words at a time. Some recall 7 phrases at a time. In another words, because people "read books by speaking it in their heads" they can only recall it from how they percieved it, which is by internal verbal voices. What you really have to do in speed reading is to change that sense around to other senses. It's the power of analogy, as the hermetic philosophy states. We take the reading experiences to be recalled as another senses. In a novel it would be through visual sense, someone close to watching a movie. If it trading, for me, I get it as a sense of actual trading based on what they speak of. Well, let's take that into trading. Consciously, I control the recalling sensation to what I want to. The process of being able to control the recalling process is what is important. When we view the charts, you have to control how you recall it along with what you recall. I am still in the verge of going into this state of mind during trading but that's what it is. Now, I know all this but I cannot do this well. The reason is because the market is dynamic and changing. Books and words are static information which is set and placed without change in time. The continuity of the flow of reacting based on the appropriate recalling reaction is very hard than said.
I just got a PM asking me if I'm good as I claim to be... To be honest, I suck bad... So there you have it, I claim to be and I am a very very bad trader!!! Please forgive me for my honesty!!!
Damn... I'm really sloppy when it comes to writing these journals.... My grammar sucks and I have some spelling issues... Hey, I failed... ok I ditched most of my classes during high school... what do you expect from a high school drop out? Anyways, I'm not a writer but a trader-wannabe so I guess that's fine. I seek for purity in my trading... that is so hard... I think too much...
First, let me condascend myself... 32 NQ handles today... Great day! Pyramiding on each strong chart condition. Gann lvl had 1345-1350 Range to be pivotal... I was too right I made bad trades in that range.. Gann Lvl above the 1345-50 was 1358.50... kinda close to today's closing price of 1358.11. Well, I've got mojo and it's nice to have them. Damn I'm good...
I was in the chatroom and one of the guys told me my journal is hard to follow. So I'm going to try my best to make it more clear and easy to follow. I will proofread my posts from now on... I hope you are happy, Savant (He's kinda perverted but nice guy)... ========================== Title of today's journal is, "Don't ask me!" I like to chat in the ET chatroom. It's a good way to keep my head relaxed when I chat with others while trading. When the markets become slow or consolidated, I start wanting to nail the start of a trend. Chatting in the room helps me overcome my greed. But there's one thing that gives me extra pressure in the chat room. It's when people ask me for Gann Levels or the direction of the market. I am a very egoistical guy and when I answer them, I feel that I have to be "right". It gives me pressure to continue to be "right" which causes my trades to be biased. This is one thing about my trading. I don't really care much about what's going to happen next. I don't know what the next tick will be or what the next bar would be like. But I think I have a good idea of what the overall market wants to do. At some times, I would have 4-5 breakeven or small loss trades before I feel comfortable with holding a trade. I trade the trend not the bars. That's one reason I want my mojo. The mojo helps me nail the right entry to trade the trend. So... "No Mojo = Taking multiple tries to ride a trend." "Mojo = Nailing the entry to ride the trend."