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.
Tradewinds
-
Content Count
911 -
Joined
-
Last visited
-
Days Won
1
Everything posted by Tradewinds
-
I'm just starting to solidify my strategy and my reactions to the market. I'm just starting to notice that the "reps" are beginning to clarify my thinking. I've been practice trading for a long, long time. It's embarrassing to state that, but I do it for the sake of anyone reading posts here, to understand that it takes a long time to prepare for and learn trading. The problem with trading, is that you execute many, many bad reps before you learn how to trade. All those bad reps cause a serious problem. Then you have to "unlearn" all the garbage, and learn something new. Actually, the "unlearning" is not a willful, intentional action, the unlearning happens when you practice what works. The bad stuffs fades away when the good reps reprogram your mind. The bad habits are probably always, lurking "out there", in the back of your mind, waiting to ambush you. I started writing down my rules on index cards. Then I go back an look at my index cards. So I'm using them sort of like "Flash Cards". That is one way to get "reps" in, and practice how fast you can recall your trade setups and rules without actually trading. I've written down my trading rules many, many times. But they end up never being looked at again, and when I do look at them again, I realize that I now have a better rule. The index cards are out in the open. Sitting next to my chair in the living room. Not on my computer, or a notebook, but right there, very convenient.
-
Introduce Yourself Here - Don't Be Shy!!
Tradewinds replied to trading4life's topic in Beginners Forum
Hello, Have you been part of any forums before? What do you do commentary on? -
I agree. But here's part of the problem. If I can't figure out how to win the battle within myself, then I can't do it. Not everyone can figure that out, or do it on their own. So then I need help. But where do I go for help? And who do I trust? And how does that trust get established? Trust is a "two way street". But who takes the initiative? Can both people take the initiative at the same time? If a trader has a tested system, do you verify that the trader has a good system? If you do verify that the trader has a good system, how does the trader verify that you have a good system? Most people are concerned first of all with whether they get paid or not. As long as they get paid, then developing a relationship of trust with the client becomes a lesser priority. If the client pays all the money up front, then they are taking all the risk. The seller isn't taking any real risk. If the trader really does have a good system, then they will be able to pay for any help from their trading profits.
-
Fast decision making, and you need to anticipate where the next price level may hit, and put orders in ahead of time. The price moves so fast through optimal entry and exit points, that it is almost impossible to manually hit them at the split second they happen. I'm referring to a scalping strategy mostly, but unless you hit those major S/R levels where there is sideways chop, consolidation and a lot of time to enter/exit then you need a very fast reaction time.
-
Where are you getting your data? Do you have any programing skills? Can you chart Supply/Demand relative to price to see if there is any correlation? What platform are you using? Do you have a way to get data on actual trades made as opposed to bid/ask that may not have filled?
-
What do you think moves the price? Trend lines don't move the price. They show you, usually after it's to late, when the price trend changed. You need a leading indicator to price moves.
-
It seems like you are not cutting your losses. It looks like your win rate is about 60% percent. You took more Short trades then long. Do you ever think to yourself, "The price just went up, so it's probably going to go down now." In other words, do you have a bias towards fighting and be contrary to the market? Don't trade live until you get your stats looking better. I'd look for a 70% percent win rate, and very little draw down.
-
There is a difference between the NYSE TICK and NYSE TICK Composite. In TradeStation, the NYSE TICK Composite is symbol $TICKC. I believe that the NYSE $TICK is all the NYSE stocks, and the composite is the NYSE 500. I've tried finding some information on this but haven't found anything so far.
-
What is the objective? Do you want to know overall profit or loss? Do you want to test for correlations? Will it be part of your trading strategy? What trading platform are you using? You'll probably need to either program a study that accesses the data for each stock, then does the math, and plots the output. Or there may be some charting platforms that allow simple addition of ticker symbols in the symbol field.
-
I did an internet search on the word ego and happened to see a quote from a book stating that: Ego is The False Center The explanation is, that Ego is something created by the outside world. In other words, we want validation, acceptance and praise from the outside world, not from an inner acceptance of ourselves. We develop our sense of self by whatever feedback we get from the outside world. As an infant or young child, we have no influence over how we are treated or taken care of. We are simply at the mercy of our caretakers. These caretakers influence the sense of ourselves. But hopefully, at some point, we have a choice to create our own validation from within. But this choice to refuse the outside worlds' definition and validation of yourself may result in a crisis of identity. If your whole understanding and definition of yourself comes from the outside world, and you decide to let go of that, then what fills the void? What gives meaning, worth and direction you?
-
What about pain? Can we talk about ego without considering why it exists, and what hurts the ego? Is it about self-worth? I think of ego in negative terms. For example, someone who is overconfident, maybe even arrogant. But what is the motivation for someone to become overconfident or egotistical? I'm wondering if it is an overreaction to feeling vulnerable and or helpless at some point in ones life?
-
It is impossible to know what is in the collective minds of all the traders and investors and what they are going to do. All you can do is look for signs of what the majority is doing. About the only sure thing you can count on, is that the price will probably slow down and get choppy a few minutes before the news release. And there will be a lot of volatility the second the news comes out. I don't try to guess what the news report will do to the market. Just be aware when the news releases are coming out, and go with the flow.
-
Under the "View" menu there is an item for the EasyLanguage Utilization Monitor. I gives the Execution time in microseconds of every indicator. I was going to use some functions in my code, but decided against it when I read something about functions being slower than in-line code. When I replaced the functions, the execution time seemed to drop a little bit. Didn't do anything more than just a quick observation.
-
Yes, that would work, but I have a lower study that plots in subgraph 1, and I want to change the bars in the main chart. The plots will appear in the lower study. I can't have plots from the same study appear in both the subgraph and the main chart. Not that I know of. I can have a lower study, and plot TEXT in the upper study, which is helpful. I guess I would need to recreate the lower study a second time, then use that to paint the bars. I could create functions that help drive both studies so I'm not creating the same study code twice.
-
Here is a link to the TradeStation Support Forum for a Bar Countdown Timer. https://www.tradestation.com/Discussions/Profile.aspx?Member_ID=2786 You need to sign into the forum. Anyone with TradeStation can login.
-
Oh yah!! What about begging? :rofl:
-
Please Phantom! Stop thinking outside the box! :rofl:
-
What is the trading equivalent to cancer chemotherapy and irradiation? In order to get rid of the fear cancer?
-
Have you ever seen those stickers that people put on their vehicles that state: "No Fear!". I've never seen a sticker on a vehicle that states: "No Ego!". :rofl:
-
If the account size is large, (whatever that means to anyone) the trader might feel "safer". Now the question is, if the trader feels safe, but isn't, then they may loose a lot of money. I'd rather blow out a $5,000 dollar account than a $50,000 dollar account. So there are possible multiple aspects to account size. Even if a trader had lots of money, they could intentionally keep the balance under a certain size as a matter of discipline. This is what you are allowed to work with, and "that's it". A small account might provide a framework of boundaries to work within. Let's say I had $100,000 dollars. I trade and loose $5,000 dollars. I say to myself, oh well, I still have plenty of money left. But if I took 5 of the 100, and put it in it's separate account, and blew that account up, then I might say, Hold On! Wait a minute, something isn't right here. Maybe I don't know what I'm doing.
-
What a New Trader Needs to Know About Trading
Tradewinds replied to Tradewinds's topic in Beginners Forum
Wow! Thanks. I use the forum mostly to learn new perspectives, and a diversion from staring at charts and writing code. My bad side is that I like biting sarcasm. :rofl: Yes, I have a dark side behind the blinding pure light. -
I agree that those are 3 distinct periods with their own characteristics. I have noticed many times that the trend patterns change dramatically after 11 AM. The trends tend to take longer to cycle through a phase after trading slows down. Sometimes the second phase begins earlier than 11 AM. If it's Friday, and/or there is not much news, the market will slow down earlier. Even though I agree that there are 3 distinct phases in the market, and they line up very closely with time periods, I would personally stay away from rules based on time. I'd rather use other standards to define the beginning and end of those 3 phases. For example, when the range on each bar is smaller, there are more gaps from the close to open on each bar, and the range of the trend gets much tighter, that's when I determine that the market has shifted into phase 2. In phase 3, the market tends to open up a little more, and cycle more cleanly. I think that phase two can often go past 1 PM, and start earlier. It depends on the news, earnings reports, day of the week and maybe some other factors. I'm not trying to give you a hard time or somehow discount your contribution. I appreciate what you are saying.
-
I totally agree with you there. I don't really consider this "scaling" in, since it's all done on the same entry. It's simply a matter of not knowing exactly where the perfect entry is going to be, so play the odds. I'm glad to read about your entry strategy, because I've come to the same conclusion. Of course, I'm glad to hear from someone who agrees with me. :rofl: But seriously, you have given the logic to back up your strategy. People often make statements and claims, but never provide anything to back it up. Not sure what you mean by "time basing". I'm not familiar with what that is.
-
You called it right!
-
Could you give a brief explanation of OTM spreads? I found this on investopedia: Out Of The Money (OTM) Definition Here is an interesting video for OTM: Understanding Out Of The Money Options - Investopedia Videos