Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
torero
-
Content Count
1330 -
Joined
-
Last visited
Everything posted by torero
-
Here's my station: a desktop and an old IBM as back. Since I only trade ER2, I keep it simple and a contingency plan. Most times the laptop is used by one of my kids while I try to "trade."
-
I agree, everyone talks about OI, but it seems to lag alot or if it's early, the price action don't confirm them for a good while.
-
James, have you started trading grains yet? I'm watching bonds, but makes me want to zzzzzz...
-
I've always felt NLP is helpful but never found any exercise materials. I'll look into it. Thanks.
-
It's true that self-sabotage will be self-evident in your own personal life when you interact with others and view of yourself. How many times did you lose control when a certain situation didn't go your way, say lost a friendly game, got into an argument with a family member, lose your job, etc. if those moments made you feel like a nobody or a loser, next thing to do was validate that feeling by either going out on a drinking binge or something that just to inflict yourself and say, "you see, you are a loser." If those scenarios sound familiar, there's your answer. Been there, I got over when I realized what I was trading exactly the same way I acted out in real life. I remember many times I would go into a drawdown, I didn't try to pick myself pick or walk away and count to 10 and refocus, I just kept getting back in and re-validate what I thought of myself in a negative way. When I started to make changes in correcting my thought process and deal with the aftermath of a situation above, things somehow smoothed really well. I trusted in myself NOT to lose control, not to inflict myself by validating my view of worthlessness by doing just the opposite. That simple change made a huge difference in trading. Try it, you may like it. What turned me around was actually a parenthood site that a list of recommendations on how to be a better parent. It was an eye-opener. Like Elder with his AA analogies, I felt more identified with parenthood problems. Made a huge impact on me.
-
Does this book give solutions other than observations? I've gone through a few books in the past and most don't come with exercises toward improving using the techniques in the books, just comments and more comments. Maybe I'm one of the few who uses the exercises when given in the books???
-
"One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do... Most people always have to be playing; they always have to be doing something." Jim Rogers, Jr.
-
Wow, marcus! If you can add a few on top and below, you'd be almost like an astronaut in orbit! You're the winner! 12 is now the record! I guess you're ace with multi-tasking. I get a headache just having 3 monitor in front of me.
-
Since I'm in Europe, I'm up quite early. If anyone is going I'll be there, usually around 8:30am time.
-
5-tick bar???? Let me just say that you're on your way to overtrading, if you're not already. If this hasn't hit you already, need to step back and use higher frames. This is hyper-scalping. Anyway, just an opinion. As for your exit strategy based on screen-shot, since this is a fast in and out trade, as soon as you see a red bar or 2 consective red bars, signifying the up momentum is over, get out. I wouldn't use indicators, period. It's lagging, you'll get out too late if you do. Price action should be your guide. Good luck.
-
Check out Ensign. Their charting comes with MP, and their monthly rates are not that bad.
-
I think it's not about just being profitable but being consistently profitable. Anyone can at any point in time be profitable. But at some crucial moments where the old bad habits and self-idolatry sets in that gets the best of us. The problem is the maintain the state of mind and trading plan that keeps in the path of consistency. I know of guilty of fallacy from time to time. Old habits are hard to break (30 yrs of conditioning vs 6 yrs of rehabilitation), it's precisely the reason to rebuild and rehabilitate ourselves into a new routine that becomes almost unconscious routine. Hard to do but it's where it needs to be to get there.
-
If the position sizing has been planned out ahead of time in your trading plan or system, then by all means trade with it. But if you don't take the next trade, it'll skew the results of the performance of the system. This next trade may be the one that will make up for the 4, 5, 6 etc trades that will turn out to be duds. If the system has been tested and proven ahead of time that the positive expectancy is there, why deviate from that? All these parameters have to be in place as part of the system such as trade only a certain amount of time everyday, a maximum number of trades allowed per day. You can even test if a maximum $$$ has been reached each day and stop trading, find out if it does get a positive outcome. All these have to be prepared in the trading plan before so there's no feeling of "now what do I do? Go with my instinct or intuition?" You know how that turns out.
-
I will have to agree with Brown here on the fact that if you cherry pick your trades (like most system traders who interfere with their own systems after testing long and hard enough to find that it has a chance of making money), you will lose because the system requires all the trades to come up with the stats you have. I learned this from system testing, not from discretionary trading. The market gives us a certain amount of right and wrong market conditions where a system will work and will not work. Missing one can be the one that would make up the losses if not more. You have to take the losses and the wins. This has happened to me where I decided to take one and sit out the ones I think the market was too strong to short and vice versa. Well, I was proven wrong time and again. This cherry picking is called Optimizing, basically trying to weed out the bad trades. But the performance results will give a totally different picture (usually worst than before the optimization). I'm speaking from the experience of testing and trading auto systems. Overtrading happens when you trade in small timeframes, but if you trade a system that gets a 2-4 signals a day (I prefer less), your chances are better on NOT getting eaten up by commissions and slippage.
-
There's a new book that is about to be published soon in US, "36 strategies for trading". I think it's similar to Art of War for traders but focus on market behavior and strategies to take different behaviors and conditions. I got a summary from a forum in Aussie and some in Amazon. I'm considering getting it unless someone already has a copy and can give us a review, much appreciated.
-
So far, the new highs are taking longer to achieve, the move down yesterday is still in solid support. Nothing serious is broken... yet.
-
It is an all time high so I'm sure every big dog is watching it for clues. It's amazing that everyone watches everyone else to make the first move. I can only assume the suckers are the first to draw? Or smart suckers with deep pockets to start a movement? I'm on sidelines until this battle declares a winner. Been boring, yes, but history is about to be made! That's exciting!
-
Hmm, might be the reason why I'm striking out :-(
-
"private money and risk manager". Any biz card with the word "money" would certain attact attention, esp. women (kill 2 birds with one stone) The other option is "blah blah blah..." That would be an ice-breaker!
-
Welcome to TL, darthradar.
-
Adding to this list that improved my trading is the simultaneous use of chart recording with personal commentaries. When you back to review at a later time, you get a better feel how you were, more vivid, than you'd look back at the journal alone. That is, keep a journal AND video record your charts with audio commentaries before and during the trade. You'd be surprised how much improvement you'd making, catching yourself with no-nos. It's a bit nerve-wracking at first concentrating on the trade and fondling other tools. Practice it first without trading and become quick and efficient at turning on and off, etc before doing it with a live real trade. It's a hassle at first, but it'll pay off in the end. Try to replicate what John Carter and Hubert do in their chat room: audio and video trading.
-
You know what's a great idea? Now that we have audio in the chat room, maybe we have you and someone with pit noise subscription and put it in there for all to hear? What do you think? Unfortunately for me, there's no audio for Russell. Poor Russell.
-
Looks like all the patterns on grains are broken to the upside (falling channel on wheat, triangle on corn), not sure about soybean meal though. I'm looking for confirmation for entry here.
