Jump to content

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.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

MC

MC's House of Mirrors

Recommended Posts

I'll copy over the prior logs for my futures paper trading tomorrow perhaps.

Just wanted to get this thread open to reserve my spot in the TL cyberspace. :o

Share this post


Link to post
Share on other sites
Hi mcichocki,

 

You should invest in real-time data. Timing is so important in this game that practicing with delayed data with give you alot of trouble when adjusting.

 

I do have real time actually, I just use bigcharts.com to post cause it's free and I can glance at my picks EOD and see the auto updated chart.

I use stockcharts.com RT but they stopped letting you do auto updating embedded charts. Also only stockcharts members could see my charts if I linked them and I dunno who has it and who doesn't.

 

I dunno why anyone would bother trying to learn off delayed data if they are serious about learning the craft. Ya gotta pay the tuitions to learn how to really play this game. One wouldn't try to bake a cake without a set of baking tools and RT charts are just one of those must have tools. ;)

 

What I use now is stockcharts.com RT for stocks and market internals.

Really sucks for internals cause it's refreshed every 15 seconds not tick by tick. :angry:

Then I use ninja for charting the YM, as that's what I'm paper trading with. (the ninja RT demo account)

 

I plan on moving to Tradestation when I go live on the YM. (In a week or 2)

Also from reading the MP section here at TL I think I'll keep ninja since it's free, feed it with Tradestation data and buy the TPOchart program for $250.

Share this post


Link to post
Share on other sites
MC - good idea to get some more charts and postings up! Are you planning to annotate chart and/or provide explanations of trade setups?

 

I used to annotate alot, I guess now I just see what I want in a stock and post it up. If you think members would like more background on why I picked the stock I could throw some info under the links.

Share this post


Link to post
Share on other sites
I used to annotate alot, I guess now I just see what I want in a stock and post it up. If you think members would like more background on why I picked the stock I could throw some info under the links.

 

In my experience here and on ET, if you want to stimulate discussion and such, then annotations and explanations are useful. If it's more for casual looking, don't worry about it.

Share this post


Link to post
Share on other sites

CBAK...Nice weekly volume traits, weekly RSI is looking good and weekly macd 12,26 has just crossed 0.

 

EGMI...Nice weekly volume traits, weekly RSI is looking good BUT weekly trix is kind of worrying me.

 

ONNN...In a weekly squeeze, decent weekly volume traits and macd just turned up still above 0. Also OBV breakout.

 

BCON...weekly bull flag with nice daily volume traits. Nice weekly rsi and long term macd is crossing above short term macd.

 

DLIA...Looks like a weekly reversal pattern with light resistance up to about $5.60. Weekly rsi is about to come out from oversold and weekly Slow stoch as well.

 

SONS...Looks like a weekly reversal pattern as well. Weekly rsi is about to come out from oversold and weekly Slow stoch as well. Weekly macd is curling up too.

 

EMC...I missed the breakout but it still has lots of room IMO. Nice weekly volume on it's range breakout. And hell they own VMware. ;)

 

SGTL...This is the most iffy of the batch but its at the bottom of the channel. I spy weekly divergence but I wouldn't get greedy on a downtrending stock, take a pop and run. :)

Share this post


Link to post
Share on other sites
What platform are you using?

 

My broker for stocks is Choicetrade and I just use their website for order entry backed with charts from stockcharts.com.

I haven't traded a stock in several months though as I've been so focused on the futures. :)

 

I will be using Tradestation for futures and eventually for stocks as well when I get another $5k to open an equities account with them.

 

For the paper trading I'm using the Ninja trader with the zenfire 30 day trial demo. It's my 2nd time with that and I also used OEC for their 14 day trial demo.

I'm going on 3 months of YM paper trading using RT demos.

Share this post


Link to post
Share on other sites

Thanks mcichocki. It appears like there is a bug in our system in which it displays the latest threads. Apparently the url's to your charts are expanding our column. Do you think you can save the chart and then use the attachment feature for now until I find a fix to this? Sorry about this.

Share this post


Link to post
Share on other sites
Thanks mcichocki. It appears like there is a bug in our system in which it displays the latest threads. Apparently the url's to your charts are expanding our column. Do you think you can save the chart and then use the attachment feature for now until I find a fix to this? Sorry about this.

 

NP, I pulled the charts for now and left the descriptions.

Share this post


Link to post
Share on other sites
MC, I noticed you use a lot of indicators. Do you have a favorite, and why?

 

For futures the market internals and candles with bias on volume.

I'm still learning the tape reading slowly but surely.

 

I also like to watch rsi and macd because thats what most fairly new traders focus on and I like to know what the masses are looking at.

Share this post


Link to post
Share on other sites

VMC

Good volume and candle groupings...especially weekly...might bounce soon IMO.

 

PANL

In a weekly squeezer...I like the looks of it for a possible breakout.

 

WWAT

Lookin good though it does have some solid resistance ahead.

Share this post


Link to post
Share on other sites

How can you take 50% accuracy and lose $200 bucks?

Easy, just override your systems target and lock in early profit.

The point of a system is to let the winners run and cap the losers at your stop point fairly early. Then the winners on a 50% model should have a positive net expectancy which IS profitability. Discretionary traders will be outperformed by a mechanical trader 8/10+ times. Maybe not day in and day out, but long term things work out in favor of a non emotional trader. To trade on discretion means you are trading on interpretation which is emotion influenced if not emotion driven.

 

So I can either die a slow but sure death by trading emotions, which will kill my equity. Or the discretionary trader in me can die and that will lead me to profitability. From my tone you can tell which trader I want to die in me. :p

 

 

2jw47q.jpg

A few of the losses came from trading the pre-market and opening 10-15 minutes which I knew better but somehow got sucked in...won't happen again!

 

Some others were due to trading without pivot points and thus trying to go through the pivot instead of fading the pivot or using it as a profit taking point.

 

And DAMN the psyche is fragile at first!!! Due to this factor I missed many thousands of dollars in sound trade profit because my losses made me gunshy. :mad:

 

 

16hy14.jpg

Prime example of WHY YOU LET WINNERS RUN!

This was todays trade. I had a mechanical exit, just saw weakness and some profit being at risk and pussed out. This means the next trade that goes against me eats into equity not profit money and gives me further drawdowns.

Share this post


Link to post
Share on other sites

I've done the same, over-ride the system and the profitability suffers. My opinion is that if the system works, use it and then you can play around when you are rich.

Discretion is more fun.

What are those cool colors you colored your candlesticks with. I didn't know you could color candlesticks with TS

Share this post


Link to post
Share on other sites
I've done the same, over-ride the system and the profitability suffers. My opinion is that if the system works, use it and then you can play around when you are rich.

Discretion is more fun.

What are those cool colors you colored your candlesticks with. I didn't know you could color candlesticks with TS

 

Discretion is fun, and like you said when I have more free money to play I'll do just that. Till then I need to get my head out of my a$$ and trade the plan. ;)

 

That's a macd gradient. I believe its stock in Tradestation 8.3 actually.

 

My other favorite is the volume gradient I found here on TL. I disable the trend feature cause I like to see the candles true color...I love that indicator too. :)

Share this post


Link to post
Share on other sites

25javk2.jpg

 

WOOOOHOO!!!

At this rate I'll be blown out in no time. :eek:

 

There's more indicators I won't give out but rest assured I took some good trades and managed to make the day VERY ugly.

 

The 1st trade was up 20+ points and I was trying to trade a system rule that in reality had me counter trend trading. That will be changed as of today.

 

The 2nd trade was a sound trade BUT the 1st trade got into my head and I sold before the real move. Part of the issue was Tradestation totals your daily P&L and I thought that single position was up the number I was seeing. Still not an excuse, cause I should have traded the trade not the profit.

 

The 3rd was my breaking point...I got mad I sold before the move on trade 2 and took a revenge trade. Then I proceeded to raise my stop because it "had" to dip soon. This set me back pretty badly and I am probably taking the rest of the week off because that SHOULD NOT have happened.

Share this post


Link to post
Share on other sites
Unable to display content. Adobe Flash is required.

 

leavitt brothers have some good insights from time to time. This ones on psychology, maybe you could use it?

 

I'll check that out. Thanks.

I can use anything to get my head out of my a$$. LOL

 

I try to outsmart the signals...then of all things a revenge trade with no signal and moving the stop to hang myself even more.

 

Equity isn't bruised but my ego sure is. ;)

Share this post


Link to post
Share on other sites

I'm really thinking of going the easier route and swing trading till I have my mind right.

Day trading on margin is hectic and I'm not sure I have enough experience to expect the discipline needed to make it yet. Then again how will I get that experience? I'm not giving it up just yet. :D

 

Side note...and I know what some are gonna say on this (that 401k should not be shifted), but I moved my 401k to stable value on 10/3 (blue arrow on chart) with the exception of my holdings on IM stock. Pretty damn close to the peak. I don't see the big money supporting the 14k levels (see the below chart again) and want to preserve my money. The funny part is "stable value" when related to the USD isn't really all that stable but I can't ask to be paid in Euro or Canadian loonies and my 401k international funds suck. ;)

 

6t4nsdc.jpg

Share this post


Link to post
Share on other sites

7wh576f.jpg

 

I think in general there should be concern at least in the near term. At this point I would look at shorting any rally on modest volume to that red trend line.

 

Thoughts?

Share this post


Link to post
Share on other sites

Very exciting day for me...

 

I made a system over the weekend that is so simple yet so effective thusfar.

I'm paper trading it for several days here and will be posting results of the trial. :D

 

My issue stemmed from not having a true system and also not using 2 contracts, 1 scalper and 1 freebie runner. Once I know I've locked in $40 profit and trail my stops I'll become more systematic. And that's the whole point of this game IMO.

 

7 or 8 trades...only 1 was a double loser on both contracts. :)

There was one trade that was iffy, below is the net gain with and without that trade.

 

$760 if the questionable trade was taken.

$635 if I had passed that trade up.

 

Today was pretty a medium trend day, I should be able to do better on a heavy trend day. :)

Share this post


Link to post
Share on other sites

8 demo trades today---

+$90

+$430

+$40

+$115

+$40

+$40

-$130

+$340

 

+$965 net today on paper with the system.

+$1840 total in 4 days testing with 27 trades.

 

I'm going to finish the week on paper and see next week if it works live or if I can screw it up. :LOL:

 

I know I'm going to have to fudge around with the stops at some point, this is only 1 week of testing.

 

Also I hope nobody thinks I expect this result day in and day out. Systems need to be changed and evolve with market conditions. That plus I could have a full week of drawdowns, who knows. I don't consider this a proven net positive by any stretch of the imagination...Not yet anyhow. ;)

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • NFLX Netflix stock, watch for a top of range breakout at https://stockconsultant.com/?NFLX
    • SMCI Super Micro Computer stock watch, attempting to move higher off the 34.06 support area at https://stockconsultant.com/?SMCI        
    • UPST Upstart stock watch, pull back to 68.15 gap support area at https://stockconsultant.com/?UPST  
    • Why not to simply connect you account to myfxbook which will collect all this data automatically for you? The process you described looks tedious and a bit obsolete but may work for you though.
    • The big breakthrough with AI right now is “natural language computing.”   Meaning, you can speak in natural language to a computer and it can go through huge data sets, make sense out of them, and speak back to you in natural language.   That alone is a huge breakthrough.   The next leg? AI agents. Where they don’t just speak back to you.   They take action. Here’s the definition I like best: an AI agent is an autonomous system that uses tools, memory, and context to accomplish goals that require multiple steps.   Everything from simple tasks (analyzing web traffic) to more complex goals (building executive briefings or optimizing websites).   They can:   > Reason across multiple steps.   >Use tools like a real assistant (Excel spreadsheets, budgeting apps, search engines, etc.)   > Remember things.   And AI agents are not islands. They talk to other agents.   They can collaborate. Specialized agents that excel at narrow tasks can communicate and amplify one another’s strengths—whether it’s reasoning, data processing, or real-time monitoring.   What it Looks Like You wake up one morning, drink your coffee, and tell your AI agent, “I need to save $500 a month.”   It gets to work.   First, it finds all your recurring subscriptions. Turns out you’re paying $8.99 for a streaming service you forgot you had.   It cancels it. Then it calls your internet provider, negotiates a lower bill, and saves you another $40. Finally, it finds you car insurance that’s $200 cheaper per year.   What used to take you hours—digging through statements, talking to customer service reps on hold for an hour, comparing plans—is done while you’re scrolling Twitter.   Another example: one agent tracks your home maintenance needs and gets information from a local weather-monitoring agent. Result: "Rain forecast next week - should we schedule gutter cleaning now?"   Another: an AI agent will plan your vacations (“Book me a week in Italy for under $2,000”), find the cheapest flights, and sort out hotels with a view.   It’ll remind you to pay bills, schedule doctor’s appointments, and track expenses so you’re not wondering where your paycheck went every month.   The old world gave you tools—Excel spreadsheets, search engines, budgeting apps. The new world gives you agents who do the work for you.   Don’t Get Too Scared (or Excited) Yet William Gibson famously said: "The future is already here – it's just not evenly distributed."   AI agents will distribute it. For decades, the tools that billionaires and corporations used to get ahead—personal assistants, financial advisors, lawyers—were out of reach for regular people.   AI agents could change that.   BUT, remember…   We’re in inning one.   AI agents have a ways to go.   They’re imperfect. They mess up. They need more defenses to get ready for prime time.   To be sure, AI is powerful, but it’s not a miracle worker. It’s great at helping humans solve problems, but it’s not going to replace all jobs overnight.   Instead of fearing AI, think of it as a tool to A.] save you time on boring stuff and B.] amplify what you’re already good at. Right now is the BEST time to start experimenting. It’s also the best time to find investments that will “make AI work for you”. Author: Chris Campbell (AltucherConfidential)   Profits from free accurate cryptos signals: https://www.predictmag.com/     
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.