How to win trading & when not to trade (I have 1 month real live record so far)

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

great so why didnt you mention it ? but did yo win today?
did you watch the price steepness ??

I did make money today and watched the price. I am currently trading at 2 contracts increments and can't make the leap of faith to grow bigger just because of averaging down.

Adding to a position when it goes against me is something I do. I counter trade myself and KNOW that this might not be the end of the move, but I can definitely see signs of reversal. Mainly by watching Volume and T&S.

My main issue, as noted before, is that my best trades are with 2 contracts (made 4,5,6 points on the last part of the position) i.e. I don't get a chance to add.

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Is that 4,5,6 point is on one trade for each or is that a scalp and it adds up to that much ?
if i have option to trade 2 contracts, I definitely would be more precise on my entry since I only have 2 chances.

I did make money today and watched the price. I am currently trading at 2 contracts increments and can't make the leap of faith to grow bigger just because of averaging down.

Adding to a position when it goes against me is something I do. I counter trade myself and KNOW that this might not be the end of the move, but I can definitely see signs of reversal. Mainly by watching Volume and T&S.

My main issue, as noted before, is that my best trades are with 2 contracts (made 4,5,6 points on the last part of the position) i.e. I don't get a chance to add.

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Is that 4,5,6 point is on one trade for each or is that a scalp and it adds up to that much ?
if i have option to trade 2 contracts, I definitely would be more precise on my entry since I only have 2 chances.

4,5,6 is the maximum that the position moves in my favor. I trade more than 2.
sometimes when i get in, it is a good reversal point and I get an area to area move but I only have 2 contracts in my possession. I can't tell if this is the area that it will bounce but I see the support/resistance so I follow, it may move against me and I will add at the next area (they do come, even on May 6th... LOL).

I can't differentiate between a trade that I should initiate with X contracts or build up with X/3 at 3 different locations.

 

[anley]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

It says a lot about the man/women when they use 'u' instead of 'you'........

 

[blurr123]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Tomm, interesting stuff. I just found this forum and registered to chat with you. Did you talk with your broker about lower commission fees, and, what are they now? What was that about your resume, did you apply for a job? How would you compare the quality of order execution of your current broker with TS? ie, when you put a limit order at a certain price and you see the chart tick on that price a few times will your order fill or does it have to tick beyond your target price before it fills.

Thanks

 

[rathcoole_exile]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

It says a lot about the man/women when they use 'u' instead of 'you'........

or "ewe" if they're from New Zealand ?

 

[Scotty2Cues]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

It says a lot about the man/women when they use 'u' instead of 'you'........

not as much as when the man/woman uses 'man/women' instead of 'man/woman'

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

hi all, just wanna update you important thing this December. so I did not make any money this month especially trading after my final exam on the 15th, I ended up losing all my ~6k gain and so i need to put back all my gain into my account. So far December is the worst month I think & I should not trade on light volume and option expiration quadruple witching but I violate it anyway and pay the expensive price.
I lost most of my money from trading Quadruple witching on option expiration day (I posted earlier that we should avoid this day). in this case and in this month after December 15, averaging down does not work at all since market is trending so strong. While compare to other months you cannot make even few mistakes this month as when price goes one way, it rarely retrace but trending strongly.

my conclusion is find the perfect entry if you really wanna trade on light volume and try not to counter trade while averaging down during the light volume (i.e. make as few mistakes possible). further I found that the turning point is close to around 4am, 2PM ,central time and 6PM for this month.

I am still learning

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

For all of you who trade currencies futures, I think the time reversal is changing. means turn around in price.

it used to be around 12 noon or 12 midnight ,6AM October - November. (CENTRAL TIME)

For this mid December - Now
I think the best reversal time is around 6PM, close to 6PM, and 1:30-2PM.(CENTRAL TIME)

at the moment, I am still not making money but I will be opening new broker. hope you and I will still be making money in new year. keep in touch

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

Hi Blur,
I did have lower commission because of my high volume, but cant be cheaper than member exchange of course.
to be honest, TS data sucks I have many issues especially when their server is down, my broker is much better. I mean data error happens but not as frequent as TS.
my limit order is fine no issues.

I tried to apply for nontrading jobs, but during interview they asked me if i can make this much money, I do not need this job. LOL this sucks! any idea how to counter this ?
furthermore they asked me if I were to start, would this bother my trade. :cheesy:

I tried to apply to trading jobs and I got into 2 companies, but the one I am interested is Patak Trading they have simulator and I passed the 1st round to make $1500 in 5 trading days, so I will move on 2nd round to make $6K in 20 trading days. (limitation : 10 contract max and $1000 drawdown/day).

I will try more trading companies. any tips which company ?

Tomm, interesting stuff. I just found this forum and registered to chat with you. Did you talk with your broker about lower commission fees, and, what are they now? What was that about your resume, did you apply for a job? How would you compare the quality of order execution of your current broker with TS? ie, when you put a limit order at a certain price and you see the chart tick on that price a few times will your order fill or does it have to tick beyond your target price before it fills.

Thanks

 

[leonarda]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

hi all, just wanna update you important thing this December. so I did not make any money this month especially trading after my final exam on the 15th, I ended up losing all my ~6k gain and so i need to put back all my gain into my account. So far December is the worst month I think & I should not trade on light volume and option expiration quadruple witching but I violate it anyway and pay the expensive price.
I lost most of my money from trading Quadruple witching on option expiration day (I posted earlier that we should avoid this day). in this case and in this month after December 15, averaging down does not work at all since market is trending so strong. While compare to other months you cannot make even few mistakes this month as when price goes one way, it rarely retrace but trending strongly.

my conclusion is find the perfect entry if you really wanna trade on light volume and try not to counter trade while averaging down during the light volume (i.e. make as few mistakes possible). further I found that the turning point is close to around 4am, 2PM ,central time and 6PM for this month.

I am still learning

try not averaging down at all, might make more money that way...!

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

you mean all in ?? I am too nervous for that. been there done that.
still no excuse to lose. I think even if I do not averaging, I would still be losing.
in a light volume, there is less tolerant from failing to identify the trend and counter it.
on a heavier volume, it seems that market is more forgiving give more second chance.

do you personally win a lot doing no averaging ?
hope volume will pick up next year. its just a matter of time,

try not averaging down at all, might make more money that way...!

 

[leonarda]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

you mean all in ?? I am too nervous for that. been there done that.
still no excuse to lose.

do you personally win a lot doing no averaging ?
hope volume will pick up next year. its just a matter of time,

yes, I do fairly well, I am very strict at cutting my losers, my view is "got that wrong, get rid of it and find one that is right". Or another saying "no good throwing good money after bad"!
I also let my winners run... the old addage!

I don't mean "all in" per say, just standard positioning sizing and risk management. So yes all in with respect to I won't add more money to a given position, i'd rather use some diversification. Some successful traders actually add to pull backs of winning positions, which works well although not something I do, basically say a trade has moved nicely +15% and things still look positive then add to it.

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I read that technique in book but that one is pretty tricky proposition. most book say that but never give any real statement. I mean your technique could be used on occasion but not everyday since perfect entry is important otherwise your stop could get filled easily.

first let me ask, do you do day trading or swing or both ? do you live by day trading or you work somewhere else? what is your winning% ?just gimme rough estimate. you could also explain your technique if you dont mind.

most often my stops get filled. since my entry not perfect then I average.

I am not trying to against you, but i just did my way and it works most of the time in heavy liquid market. actually this past 2 days was not bad for averaging.

yes, I do fairly well, I am very strict at cutting my losers, my view is "got that wrong, get rid of it and find one that is right". Or another saying "no good throwing good money after bad"!
I also let my winners run... the old addage!

I don't mean "all in" per say, just standard positioning sizing and risk management. So yes all in with respect to I won't add more money to a given position, i'd rather use some diversification. Some successful traders actually add to pull backs of winning positions, which works well although not something I do, basically say a trade has moved nicely +15% and things still look positive then add to it.

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I will post nobstrading ebook. I found it in another thread, but I think it would be helpful to someone who doesnt know yet. I started reading it myself. it's about reading order flow and quick but important introduction! enjoy and Happy New Year!! Wish we all win trading and make billion$$SS!

 

[leonarda]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I read that technique in book but that one is pretty tricky proposition. most book say that but never give any real statement. I mean your technique could be used on occasion but not everyday since perfect entry is important otherwise your stop could get filled easily.

first let me ask, do you do day trading or swing or both ? do you live by day trading or you work somewhere else? what is your winning% ?just gimme rough estimate. you could also explain your technique if you dont mind.

most often my stops get filled. since my entry not perfect then I average.

I am not trying to against you, but i just did my way and it works most of the time in heavy liquid market. actually this past 2 days was not bad for averaging.

I swing/position trade, typical average trade length is 30+ days.
I have a day job, I check on trades maybe 15 mins a day, enter new trades maybe once/twice a week etc..
My trade stats for last year:
winning % : 47%
av win/av loss ratio: 2.2 to 1
Try reading the NakedTrader book as I follow his techniques

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

How are you doing? still banging it?

 

[DionysusToast]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I will post nobstrading ebook. I found it in another thread, but I think it would be helpful to someone who doesnt know yet. I started reading it myself. it's about reading order flow and quick but important introduction! enjoy and Happy New Year!! Wish we all win trading and make billion$$SS!

I think this is somewhat out of order.

The guy that sells this ebook is genuine, the info is very useful and it's only $40 (with the video).

Why pirate it like this?

DT disaspproves...

 

[aversano]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

I think this is somewhat out of order.

The guy that sells this ebook is genuine, the info is very useful and it's only $40 (with the video).

Why pirate it like this?

DT disaspproves...

aversano disapproves...

 

[tommason]

Re: How to win trading & when not to trade (I have 1 month real live record so far)

for the record, I am not pirating this ebook. actually I downloaded it from another forum in this trade2win website.

that ebook itself is very difficult to read anyway i think u must use the video to understand it.

I think this is somewhat out of order.

The guy that sells this ebook is genuine, the info is very useful and it's only $40 (with the video).

Why pirate it like this?

DT disaspproves...