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Attila
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Everything posted by Attila
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brownsfan, Thanks for the support.. Ipad?? The only sort of pad I need now is to collect brownstuff.. <gg> getting delirious..
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The Anatomy of a Reversal & Today's Closing Sentiment
Attila replied to UrmaBlume's topic in General Trading
Yes I am in need of trading tips, signals, gurus, zodiac signs.. anything.. even a Psychologist http://www.traderslaboratory.com/forums/103/race-7826-64.html -
The Anatomy of a Reversal & Today's Closing Sentiment
Attila replied to UrmaBlume's topic in General Trading
Soooo... I took your research to heart and shorted the open... You owe me.. <gggg>... More than most of my account, these indexes have relieved me of any belief in anything.. Any amount of data can simply be ignored the next day.. like Today.. There are people that move these markets and their lives are quite easy in the slow Summer trading.. Me thinks they intentionally create bottoming or topping candles JUST to negate them the next day. The scalper is king! That'll be $13,599... -
The Anatomy of a Reversal & Today's Closing Sentiment
Attila replied to UrmaBlume's topic in General Trading
Aaaah... I was trying to elicit an answer from you such as.. "I will be shorting all day today"!!.. but you gave the answer one that has been in the market would/should know.. All analysis is merely "helpful" and nothing else... Sorry... battle scarred lately.. in a battle with myself. Interesting though.. so much data out there. Ultmately you place a trade and get kicked out and money flows out of or into your account. -
The Anatomy of a Reversal & Today's Closing Sentiment
Attila replied to UrmaBlume's topic in General Trading
Soooo... of what use is all that? -
Statement for 08/17 Sometimes you just want to swear at the markets.. What was that run all for? I could write a book on all the things to avoid doing in the markets, including.. "When a US index market is persistent in one direction in the morning, those with their foot on the gas USUALLY don't stop until lunch time or later.." Soooo if you are daft enough not to obediently follow this group, at least stand aside till they are done, and MAYBE the afternoon shift will reverse the thing, if at all. Which is the script that was used yesterday. Something in me, subconsciously wants nothing to do with "social long gains", the only explanation I can imagine for so completely refusing profits on the long side.. a Long around 1839.75.. what did I do? Looked back on the Hourly to find a high at 1842 that I decided was the top so I sold for a point and change.. THEN shorted 1847.75.. Helloooo!! I have complicated something so simple. My son occasionally walks in and says... soooo Dad.. you bought there when it was going up right?.. I have stopped answering him. Anyway, this is the Kill Bill Scene... in the Casket... I can hear the dirt hitting the top while I worry about a 35 pip M6E 1 contract stop.
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I think I will DELETE all price levels from my charts... They have no meaning whatsoever! (Of course I am biased, standing in front of a train with a microscopic account) 1837, 1845, 1850.. etc. They simply tempt me into not waiting for reversals! That said, Daily NDX a sweet looking LONG.
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Statement for 08/16... Slip Sliding away....
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Statement for 08/13... 3 digits! Had a sweet 8pt short to open the day but that wasn't enough action for me. Trading definitely will make you find out who or what you are as well as what you do it for. Thanks for the helpful comments (especially Mightymouse..<gg>).. Solution simple and complicated at the same time. At this point the "want to" save the situation the question mark in my head as it is surely looking like a subconscious intentional tank. Why else would I have not called the daily loss limit in to my broker. Paradoxically I need to think of the account's demise as a non-event to lessen the crazy in-trade anxiety I have developed which is at the root of this dive. A condensed version of "The Anatomy of a Blowup" for sure... Next week need to decide to fight or...
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Gaps everyday.. not easy for me to deal with.. The goal of this market is to break you down.. then take your account. Working so far. If you don't have and stick to (including leaving when they are not playing your game) a VERY well defined action plan you repeat like the sun rises day-in-day-out you (I) are toast. So many different random moves are thrown out there to soften you up. I am in the paranoid "the market's out to get me stage"... Another nice wedge broken in the overnight session which is frequently more organized lately..
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Statement for 08/12.. The short at 1822 on the way UP says it all.
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Statement for 08/11 The temptation to trade 2 units to get it all back quickly quite strong but... simple day.
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Statement for 08/10.... Catastrophe.. I am developing an unfortunate skill of pasting these statements without looking at the ending balance. All began with a long Euro trade at the Hourly Trendline it HAD been bouncing on forever but as luck would have it, it was broken this time.. Added at 1.3147. In the morning a bounce to 1.3180 area almost reaching my limit exit at 1.390 would have saved the trade with a small profit. The deer-in-headlights dive that followed resulted in an over 100 pip loss, selling of course very near the bottom. To add insult to injury, the market reaction to the FED's worry about the weakening economy wiped out a 10 point gain in a later NQ short from 1892.5 (down to 1870 this morning)... Most of these trades either were without stops or stops move away/canceled after trade was on. By and large my TRADE MANAGEMENT has been zero. A different environment a few weeks ago probably was friendlier and no longer is so unless I intend to meet a zero balance very soon I must manage trades. All large losses are the result of poor money/trade management as the market is capable of anything. Ominous as must journals I have seen with traders with these problems rarely correct their issues.
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Statement for 08/09.......
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Statement for 08/06 That 0 to 5% that make it big day-trading fully deserve it as the pain is great getting to that level, if at all. Friday I will (SHOULD!) remember for a while. Granted some things were out of my control but the dangers of not respecting the markets and the importance of humility were underscored.. All began with the poor Jobs report, which I read against my better judgment and started thinking short..(gap fills are at least attempted over 50% of the time). The second one at 1890 (I thought) should hold but was premature as there was no reverse confirmation.. All this time my charting app was 5 points off my trading platform and had no clue which was right. So, 2 errors.. fighting trend with 2 contracts. Well, third blunder... I canceled my stop in the confusion that ensued.. By the time I called the broker I was 14 point in the red with 2 contracts.. over 30% account loss. Also traded inside the first 15 minutes, another rule broken. I sat tight and the decline began, more viscous than the rise was and soon I was looking at a 35% account gain. At this point I was sure 1867 was a given but was not to be.. Key problem is my inability to mentally handle the endless levels of wrongness of every trade caused by randomness. A trader that can bracket, say, 3 for 10 (assuming a decent system), as an example, and never mentally waver regardless of stop outs (FEAR) or money left behind (GREED) I think has the key to doing well. Ended up slightly up for the day but badly down for the week. Have definitely mentally lost the plot and look to dramatically change my trading. Current plan is not working any longer. KEY is I am handling profit taking very poorly and the range trading really aggravating this.
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Statement for 08/05 I have not adapted to the new market behavior.. Changes would have been: 1. Larger Stops The stop outs I've experienced this week have been cruel. Tuesday I managed 1896 long (.25 from the morning low). allowed a 10 pt profit become a scratch. Yesterday an 1905 Short was a decent trade but moved mt stop early and stopped out 1907.25 before the slide to low 1890's, the original target. The recent large bars (Yesterday morning was the worst, bouncing 5 points within a bar), greater than my typical stop have meant I get stopped out just as the price reverses, frequently within .25 yo .50. 2. Take/Accept smaller profits Daily Range has definitely narrowed and should be taking the 7 to 10 points profit I have seen and ignored all week. 3. Said "seeya!" to many trades. An ongoing problem for me but more dangerous in a less predictable environment. The large intraday bars have made most trades this week risky relative to prior bars to manage. The PA has been so messy if I don't get an extreme entry early AND take what I am given early I am in for torture. Hope to manage until something happens to jog markets out of this range.. today is the day with the 8:30 report, hopefully. Wasting precious emotional energy counter-productive. Also relax... it's a micro account, there is no rush to grow and if lost not the end of time.
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Statement for 08/04.. Mentally tired..
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Statement for 08/03.. How many times can a man dash his toe against the same rock before changing course. Recent activity clarifies why traders take Summer off and most don't make it at short-term trading. Such a waste of time AND money. Still confident I will right the ship.
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Yes brownsfan, sometimes chop is so clear you can even feel it.. but still trade it. Statement for 08/02... Missed the early breakout of 1886 to avoid the ISM report volatility and that was it for the day.. Financed my brokers kids trust funds a bit trading the chop which I can't believe lasted the entire session. Must be summer. These 9:45 to 10:00 reports should be moved to the next day at 8:30 so Attila can have smooth trading ok? Didn't enter earlier, lower as I have a 15min no trade window...
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If you can arrange a top in ES/NQ around 1130/1938 my account will likely experience a breakout..
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Statement for 07/30.. Good day due to mentally entertaining all possibilities.
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Lol...!. I will start putting up a Morning Prep chart if there is anything interesting.. Overnight NQ Trendline in control.. Until that is broken and held, short. Planning to short 1847 to 1850 area.. Stop 1853. If that Trendline goes, then it's rally.. HARD. Last day of Month also, so such a rally could be fake but still to be traded. ES and NQ both sitting on the bottom rising Trendline on large wedges (ultimately they usually break down) so MUST rally or else.
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Statement for 07/29.. The remaining change that will make a night and day difference in my trading is not to focus so much on the vibrating price. When I do EVERY plan in my head is crowded out. It is really incredible. My plan to short 1883.5.. moved it to 1884 as the price rose, missed trade by .25 My plan to hold 1877 (perfect entry!) for the day... ANTICIPATED 1864 holding, covered 1877. My plan to re-enter on 1864 break.. completely froze. My plan to keep the 1843.5 2 unit long to 1859 (went to 1872).. after the dip back to 1840, gladly took 1845. All decisions based on fear rather than any technical reasoning. Seems such a small problem to resolve... All I need to do is to for one day trade perfectly (meaning no emotional trades) and build from there. Mighty's walks would have really helped yesterday.. If as a trader you did not do very well yesterday, when are you going to do well?
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adonis.. could you help me with this? I need to modify this opening range script to draw an additional line at the market's open and have no clue what to do.. # TS_OpeningRange # ThinkScripter – Custom ThinkScript Indicators for thinkorswim # thinkscripter@gmail.com # Last Update 01 SEP 2009 input showOnlyToday = YES; input openingRangeMinutes = 60; input Market_Open_Time = 0930; input Market_Close_Time = 1600; def day = getDay(); def lastDay = getLastDay(); def isToday = if(day==lastDay,1,0); def shouldPlot = if(showOnlyToday and isToday, 1,if(!showOnlyToday,1,0)); def pastOpen = if((secondsTillTime(Market_Open_Time) > 0), 0, 1); def pastClose = if((secondsTillTime(Market_Close_Time) > 0), 0, 1); def marketOpen = if(pastOpen and !pastClose, 1, 0); def firstBar = if (day[1] != day, day - 1, 0); def secondsUntilOpen = secondsTillTime(Market_Open_Time); def regularHours = secondsTillTime(Market_Close_Time); def secondsFromOpen = secondsFromTime(Market_Open_Time); def pastOpeningRange = if(secondsFromOpen >= (openingRangeMinutes * 60), 1, 0); REC displayedHigh = if(high > displayedHigh[1] and marketOpen, high, if(marketOpen and !firstBar, displayedHigh[1], high)); REC displayedLow = if(low < displayedLow[1] and marketOpen, low, if(marketOpen and !firstBar, displayedLow[1], low)); rec ORHigh = if(pastOpeningRange, ORHigh[1], displayedHigh); rec ORLow = if(pastOpeningRange, ORLow[1], displayedLow); plot Opening_Range_High = if(pastOpeningRange and marketOpen and shouldPlot, ORHigh, double.nan); plot Opening_Range_Low = if(pastOpeningRange and marketOpen and shouldPlot, ORLow , double.nan); Opening_Range_High.SetDefaultColor(color.green); Opening_Range_High.SetLineWeight(2); Opening_Range_High.SetStyle(curve.POINTS); Opening_Range_Low.SetDefaultColor(color.red); Opening_Range_Low.SetLineWeight(2); Opening_Range_Low.SetStyle(curve.POINTS);
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Statement for 07/28... To capture the most of the day there is a key morning entry which is sometimes clear, sometimes not. Yesterday it was (1890 area short) but the mid day chop drove me batty! Second unit would have been INCREDIBLY useful as I saw 1878 repeatedly and really wanted to cover there but didn't as a break was possible anytime to the expected sub 1870 destination. Good day anyway.