thalestrader

Current look at the 6E with current B/O as of 8:16 PM EST ... Best Wishes, Thales

I posted this potential short on the ES this afternoon ... it never triggered. Just so that there is no misunderstanding - we try to post trade opportunities in this thread before they trigger. This means that some will not trigger. In this case, a short entry would have been filled on a sell stop placed a tick below the blue line. Price never traded below that point, and instead, made new higs above what would have been the stop loss level. No harm, no foul. Best Wishes, Thales

Higher frequency does not translate to higher profits, right Jon? In fact, my worst days tend to be those on which i have the most executions (unless I caught a runner and I just keep piling on). There is something to be said for playing for bigger swings while trading less often. Best Wishes, Thales

I am continuing what I plan to be a three week exploration demo trading CL. At the end of three weeks, if all goes as well as it has gone so far (last week and today), I will replace the ES as my non-currency future for day trading and replace it, at least temprarily, with CL. Here is my demo blotter from today - using Ninja trader, and again, it is a demo, not live. Best Wishes, Thales

As I am currently sim trading crude, I'll need access to your sim paypal account. Best Wishes, Thales

Here is a good thread that deserves more attention and activity. Best Wishes, Thales

Hi Blowfish, Do you think that would be true of an intraday trend following type day trader as well? In other words, a day trader who always played for a potential trend day, using a trailing stop or a MOC strategy rather than scale out at targets, etc. Would such a trader need to pyramid to be net profitable, in your opinion? Best Wishes, Thales

I posted the trades so long after the fact that I figured I should exercise a little "CYA" in case the ninja-experts were out and about. Best Wishes, Thales

Two little demo short attempts lat in the day while testing previous highs Way late on the post ... but I was on time with the post pointing that crude was at its highs. So, take it for what you will. If its not real time enough for you, scroll on. The second short from 74.91 has a current stop at 74.79, price is at 74.75 Best Wishes, Thales

Profit Target 1 hit ... Best Wishes, Thales

Look at CL at the last two day's prior highs: Best Wishes, Thales

Current view of the ES ... something like that ... Best Wishes, Thales

Exactly. Very well said. Best Wishes, Thales

You used your inaugural post to a free forum to make mention of the fact that for just $995 you will teach others to to as you do, and you're insulted? And then your next post is to cry about having been insulted because of the content of your first post? For the record, your first post was fine up to the point where you decided advertise your services. Just once I'd like to see someone who has broken with the accepted practices here within the TL community, whether or not it was intended, to apologize for the transgression. Instead we get one guy telling us that we should "calm down" and another guy crying that he's been insulted. -Thales

Oh boy ... it's on! I'm with you on Penn State, but I have too much respect for Brownie to follow you on the Browns comment. I'm cross state from you and I'm an Eagles fan. As the Steelers have quite a few more Super Bowl rings to the Eagles none, I don't have much to say. Sure did suck to fall to the Buckeyes like we did, but that's how it goes sometimes. Best Wishes, Thales

The ES has made it to within a whisper of where Id again start looking to sell, though I'd have preferred it to have touched or trade through that level (which it still might do). I did not take the 6E short, and so far I haven't missed anything (which of course, might change). I had thought to take a long on the 6B earleir this morning (which I did not post) but then I thought better of it. That would have been at PT 1 with a BE stop right now - couldawouldashoulda. Here is the current ES: I did manage to make some demo dollars, though my broker refuses to honor them as real. I am at this point giving serious consideration to removing the ES completely from my traded markets and replacing it, at least temporarily, with crude. So instead of 6B, 6E, 6J, ES, it will be the three currency futures with CL. For the last six trading days crude has proven itself to be a very easy market to trade. I'm going to continue to demo it for a week or two to make sure that I'm seeing what I seem to have been seeing. But right now, it looks like Brownie must be on to something. Best Wishes, Thales

This is for everyone following this thread who is still trying to learn his or her way to profitability. If you have a trading platform that lets you turn the dollar pnl off and replace it with ticks or points pnl, do it. Certainly, you should have a daily loss limit measured in ticks, and you should know what it is and you should honor it, whether you are demo trading or trading live. But do not be distracted by dollar amounts. It is only money and it means nothing. The only thing that matters is did you win more ticks than you lost at the end of the day? The week? The month? Once you answer yes consistently to all three, and you are demo trading, it is time to go live. If once you go live you consistently answer yes to all three, then it is time to increase your size, but slowly, and always honor your daily loss limit. Trade small until you learn how to trade. And always, even after you learn, trade for points not dollars. It makes all the difference. Best Wishes, Thales

It is 11:04 as I post this ... exit demo short at 74.46 for +30 pennies, exit a few seconds after 11:00 EST Any doubters who wandered in from other forums and chat rooms can look at the entry fill time stamp and the time stamp on the initial post here at TL and decide for themselves whether the post was timely or not. Best Wishes, Thales

She's nine ... if it wasn't fun for her, we'd have stopped immediately. I think that someone looking to learn to do this as a career needs to start with good habits from the beginning. So if I were you, I'd keep right on doing what you are doing. By the time she was up to $250, I had her trade between 20-1 and 50-1 leverage depending upon pips at risk on a particular trade. Though when she caught runners and she was awake to do so, she would add on every break low using a 1 minute chart (and kiwi thought he was the only one who had figured that out), so her actual leverage in those cases was quite high relative to the account size, but still very moderate relative to her actual risk based upon her trade management. All of this is why I stopped posting our results here - folks focused too much on comparing their results to her results and too little on their results and how to improve them. Focus on profit and loss measured in ticks, not dollars. And these concerns with leverage really indicate a concern with nominal dollars, not profit and loss measured in tick increments, which is where the focus needs to be. If you can trade for a dime/tick, and finish each week with 20-30 dollars more in your account, do you think you can then figure out how to increase your size so that each week you finish with 200-300 dollars more in your account? And from there 2000-3000 dollars more in your account? Learn to trade for ticks, and the dollars will easily follow. Focus on the dollars, and you will never find them where you want them to be - in your account. Best Wishes, Thales

Sell Stop crude demo 73.75 and here is the B/O as of 10:33 ... Trade above 74.00 cancels the order. Best Wishes, Thales

I'm not in a real big hurry to get involved here either, though if I were to decide to do so, this is how I'd do it ... Best Wishes, Thales

I was thinking so ... but the ES has powered above that resistance level that I had noted with the red rectangle, and actual chart points always trump trendlines, channels, and EW and so forth, so for now, as I am not long, I will wait to see if price reaches 84.50 and then 93.25 and watch how it acts if it does. Best Wishes, Thales EDIT: In other words, I am in no hurry to do anymore with ES today unless it initiates a move from an S/R level

I hope that was close enough to real time for folks to see that price can be read for fun and profit. As I do not feel that there is anything left to prove, and I really do not like having those Ninjatrader markers on the chart, I probably am going to revert back to my blue line, red line, green line method of annotation for these little CL demo trades as well. Best Wishes, Thales

Best Wishes, Thales

I am still demo trading crude, and I entered with a market order - like I said, Crude hit that high and didn't give me a chance to get in at the high or snap a pic. For those who like to see Ninjatrader markers, I show the entry plotted here: I would have liked to have been short from about a nickle higher, but between the time I saw what I wanted to see to get short and the time my finger hit the market order button, it was what it was. Best Wishes, Thales