journal of trader formally known as wasp

[wasp]

pleased Thursday

Pleased for 2 reasons.

firstly, muchus profit which is always a good thing, secondly, and more importantly, I stuck to my plan...

During the day 2 near long signals appeared and I was so close to taking them but neither matched my criteria perfectly and therfore I didn't. Then the final drop off of the day which is where my panic usually sets in and I jump ship too early. As per the plan, I only move (trail) my stop as and when a new candle is printed above/below the S/R levels. I waited and waited and did just that so my exit was perfect to plan and what it may do now is irrelevant.

Happy day.

 

[wasp]

Time for a break then back to that old price action study and time to pour over those futures charts with their naked bars and confusing volumes!

An indicator free chart will one day be mine!

I can actually start seeing the reasons behind where and why the MA's crossed and hopefully I can produce the same results, sans indicators.

 

[smbtnt]

Then the final drop off of the day which is where my panic usually sets in and I jump ship too early. As per the plan, I only move (trail) my stop as and when a new candle is printed above/below the S/R levels. I waited and waited and did just that so my exit was perfect to plan and what it may do now is irrelevant.

Happy day.

Well done Wasp!
The evolution in your mental conditioning has gone up a gear, no mean feat!
This can only come about when one is 110% comfortable with their strategy, the stress is now on exit levels and maximising compounding profit. This the second phase of the journey is more enjoyable than the 1st ( finding a strat) imo. After that, trading becomes tediously broing and mechanical.

 

[wasp]

pissed off Friday

Oh, to trade with an ECN.

It seems only yesterday I was sticking up for capital spreads yet now I want to leave them immediately. I appreciate the fact that markets can move fast when data comes out and slippage is a problem. Fair play, I can live with that.

What happened this afternoon is what annoys me. 7 times I attempted to short at 1:30 into the downmove. The 7th time I was just doing it for curiosity and dropped right down to £1pp just to see and yes, I got filled at the bottom!

What really got to me was the fact that yes, its moving quick and my price is no longer valid but everything is quoting a price at 8915, every chart going and yes, even CS chart but CS ticker is still showing 8930 so no ****ing wonder it comes up no longer valid. 7 times! .... 7!

anyway, moan over, I know what I must do....

week summary next...

 

[wasp]

done

Results for the day were not what I would have liked but still not too shabby.

At the end of the week it tallied up to...

M > -5
T > +5
W> +43
T > +154
F > +18

TTL > 215

Can't really complain with that! More importantly, broker, sorry dodgy, good for nothing bookies, problems aside, I traded my plan and as long as I continue to do so, all will be fine....

Good weekend all


last week:

Trades - 23

Won -- 15
Lost -- 8

65% W/L ratio... not the greatest in the world but...

Profit (pips) -- 215

So happy days there really.....

 

[wasp]

Well done Wasp!
The evolution in your mental conditioning has gone up a gear, no mean feat!
This can only come about when one is 110% comfortable with their strategy, the stress is now on exit levels and maximising compounding profit. This the second phase of the journey is more enjoyable than the 1st ( finding a strat) imo. After that, trading becomes tediously broing and mechanical.

Cheers smbtnt,

Its not been the easiest of journeys for sure and sometimes I feel like I'm at an AA meeting... Just one day at a time! It'll stick in the end...

Looking forward to the continuous second phase now, reaping the rewards and all that!

 

[martin brown]

Oh, to trade with an ECN.

It seems only yesterday I was sticking up for capital spreads yet now I want to leave them immediately. I appreciate the fact that markets can move fast when data comes out and slippage is a problem. Fair play, I can live with that.

What happened this afternoon is what annoys me. 7 times I attempted to short at 1:30 into the downmove. The 7th time I was just doing it for curiosity and dropped right down to £1pp just to see and yes, I got filled at the bottom!

What really got to me was the fact that yes, its moving quick and my price is no longer valid but everything is quoting a price at 8915, every chart going and yes, even CS chart but CS ticker is still showing 8930 so no ****ing wonder it comes up no longer valid. 7 times! .... 7!

anyway, moan over, I know what I must do....

week summary next...

just imagine if you were on the wrong side going into the move, and CS would not let you exit?

its not worth it.

change your broker asap.

 

[wasp]

just imagine if you were on the wrong side going into the move, and CS would not let you exit?

its not worth it.

change your broker asap.

Certainly will be, there are just far too many little things that work to my detriment.

Taking Friday afternoons problems for example... I don't know what would have happened with Oanda or IB...

I tried shorting numerous times and had I expected the events I may have put in a new order but I trade what I see and therefore wasn't ready to short until the fig's came out....

With IB or Oanda or another broker, I'd assume my position would have been filled just 10-20 pips lower than my entry price whereas with capitalspreads, their chart showed 15 but their ticker showed 30, so regardless of the speed of the market, I wasn't going to get filled regardless because they weren't even offering the real price to sell at. To really rub the preverbial salt in the wound, the fact that their charts and their quote were so out of line until it finished that it was blatant they weren't going to offer a trade.

Its all the little things that make the difference...

They need to change their quotes to align with what they are really offering....

 

[wasp]

In a vain attempt to try and move on from indicators (yes I am planning it :cheesy: ) and to maybe one day be able to trade 'properly' I am picking a few slow moving stocks whlst trading cable to see how I get on.

If anyone wants to contribute in a 'WHN' essence please do... they are/will be current stocks and shares of a small size to test my abilities....

my thoughts to follow....

 

[wasp]

Okay,

Since May there has been 3 attempts at the support level at 21. The last most recent attempt has a longer lower wick and an increase of volume. It doesn't seem to want to go lower and therefore I shall go long monday morning with a stop at 20 and trail my position should it move higher!

 

[barjon]

good on yer, wasp - mind if I play?

I think I'd be a bit concerned that the slight increase in volume and the longish lower wick wasn't just about short covering (or pros trying to convince me of a triple bottom ) and I'd want to see some upward follow through on monday. So I'd be looking for an entry above the high of the last candle and wanting the price to be rising through it rather than dropping back to it after a gap open (say). I'd also have a pretty tight stop below the low of that candle.

good trading

jon

 

[wasp]

Don't mind at all Jon,

Must admit I was looking at that (possible) triple bottom with $ signs on them hence the long on Monday morning soon as. Kind of wish I'd have gone long Friday afternoon in case it gaps up and we are right! At least that way I could get that stop below the low and still keep it tight. I think I will wait to see and if it gaps up, wait for a (hopeful) pullback then enter the long.

 

[wasp]

Doh!

Not a great start to the week...

The first trade of the day lined up nicely and then dropped like a bomb, taking away the signal and shooting down to my stoploss. I guess thats one of the problems using indicators but it doesn't happen too often so I'm not too bothered.

After that, the waiting for the next long signal was hard, very hard... finally it came around just after US open and I managed to come out with a profit on the day... shame to have missed the early drop but C'est la vie...

Good to see my stock trade moved into profit though

 

[Crawsthorne]

Not a great start to the week...

The first trade of the day lined up nicely and then dropped like a bomb, taking away the signal and shooting down to my stoploss. I guess thats one of the problems using indicators but it doesn't happen too often so I'm not too bothered.

After that, the waiting for the next long signal was hard, very hard... finally it came around just after US open and I managed to come out with a profit on the day... shame to have missed the early drop but C'est la vie...

Good to see my stock trade moved into profit though

Do you mind saying what periods you use for your moving averages.

Thanks

 

[wasp]

Do you mind saying what periods you use for your moving averages.

Thanks

12 and 13

 

[firewalker99]

In a vain attempt to try and move on from indicators (yes I am planning it :cheesy: ) and to maybe one day be able to trade 'properly' I am picking a few slow moving stocks whlst trading cable to see how I get on.

If anyone wants to contribute in a 'WHN' essence please do... they are/will be current stocks and shares of a small size to test my abilities....

my thoughts to follow....

Personally, I'd consider the fact that price did not swing back up to the resistance level at 24 a sign of weakness. At mid July and begin August price did two attempts but couldn't get anyway past 23.5... I would envisage a possible breakout below the support level of 21... The WRB up on noticeably higher volume would suggest to me buyers were still in the game, but after they failed to drive price back up to 24, I'd say sellers are now in control.
Interesting to see what happens next

 

[wasp]

another day, another dollar (or 2)

ho hum...

early finish too

 

[Priceman]

Fair play dude, looks like you're a pro now with all these wins ! Keep 'em coming that's what I say matey. Great journal too.

 

[wasp]

stock progress

currently up on Moday morning...

At the moment, not sure how far it may go but the bottom held up so looking for a move past 23 to move the stop up to breakeven.

 

[dc2000]

what stock is this wasp?