Tradersaavy's Discipline Journal

Discussion in 'Journals' started by tradersaavy, Jun 23, 2004.

  1. Kermit,

    My verbiage may have been a little off when I said "subjective tick data".
    I could have said inconsistent tick data, but let me explain.

    I have compared several charts of the same tick count on the same instrument and have seen different chart information. This is comparing charts from Esignal to Tradestation and others that I can't remember the name of currently.

    Also, I have even seen Esignal, who I use, have certain tick information during the trading day and then at night when I do some reviewing on another computer, the chart information can sometimes differ from earlier in the day.

    Regarding divergence: this is one area of my system that can not be coded. I suppose it is somewhat discretional. I only take divergences of the type in the attached chart. And they have to be obvious. I may take the not so obvious ones if the other signals/filters are all very strong.
    #21     Jun 27, 2004
  2. Kermit



    I too have noticed such inconsistencies in tick data between these two providers. As for the divergences, this is where discretion can actually come in. But, yes, I see what you’re saying. Thanks for the schematic.

    #22     Jun 28, 2004
  3. Long YM at 10337.

    Current target 10348.
    #23     Jun 28, 2004
  4. Out 10348.

    I'll post chart and thoughts later.

    Only trade of the day.
    #24     Jun 28, 2004
  5. Still, I can't wait until August 7th'ish when I start trading fulltime.

    I'm moving now and I'm missing trades during the day.
    There were two scalps. Both were losers. I missed them both.
    Finally Murph's Law worked for me. I missed the losing trades.

    However, there was a nice 1m trade short earlier in the day that I missed.

    However again, the attached chart was the biggest trade of the day for my system and I got it.

    All filters to produce a signal were there and very clear.
    Entry was better than expected and exit was right on the mark.

    What I have learned today is:
    The less I look at the screen the better. I do better when glancing at the screen every now and then. It keeps an objective eye. This goes for after entry as well. Even though after entering a trade, it is a simple step from there being that the trade either hits the target or doesn't.
    #25     Jun 28, 2004
  6. I don't know if anyone reads this journal but in case someone is:
    I apologize if it is boring.

    I suppose I could have done this in a private journal but I feel that doing it in a 'public' forum is a better psychological factor for me.

    Especially when it come to the purpose: working on discipline.
    #26     Jun 28, 2004
  7. Hi,

    Your trade produced 12 ticks profit. May I know what is your average size of profit and losses. Also, what is your winning ratio? My opinion is that the size of the gain is a bit on the low side, though I understand it to be a scalping system. Have u tried it on higher time frame charts or do you prefer lower time frame because you feel that it suits your mentality of smaller loss and gains?

    #27     Jun 29, 2004
  8. Hello.
    During the "non-summer months" the average trade is 14 ticks.
    It does work on higher timeframes too.
    Yes, I have chosen this timeframe because it suits my personality.
    The risk to reward seems crazy, but it works. It is usually 1:1.
    However, the win rate has been 75%.
    #28     Jun 29, 2004
  9. How come you did not get signal around, after 13:00 ?
    #29     Jun 29, 2004
  10. Probably because:
    From 10:30 - 13:00 YM was pretty much sideways on my chart.
    Shortly after 13:00 I see a breakdown, but not my type of trade which needs a trend in place to find a reversal.

    #30     Jun 29, 2004