Yamato
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Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
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Yamato
Legendary member
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US Rights Record-News Analysis-07-09-2011 - YouTube
the usual powerful concepts, values, and delivery by ken o'keefe
the usual powerful concepts, values, and delivery by ken o'keefe
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Yamato
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Robbie Parker Fake Actor Sandy Hook Shooting - YouTube
Sandy Hook Families Interviewed All Fake Update - YouTube
hilarious how CNN presents it (check out their edited video vs the video we have seen above):
Shooting victim's dad: 'This world is a better place because she has been in it' - CNN.com
"brett keller is the family's bishop..." and that's an actor, too, because you could see him in the video above, walking along with the other actor. It's basically a company of actors such as CrisisActors.org:
Crisis Actors - A Closer Look - YouTube
And here, at the end, there's a post by a sheeple representative which is just hilarious if you understand reality:
Sandy Hook School Shooting Hoax Fraud Robbie Parker Actor Exposed | LinkedIn
Sandy Hook Families Interviewed All Fake Update - YouTube
hilarious how CNN presents it (check out their edited video vs the video we have seen above):
Shooting victim's dad: 'This world is a better place because she has been in it' - CNN.com
"brett keller is the family's bishop..." and that's an actor, too, because you could see him in the video above, walking along with the other actor. It's basically a company of actors such as CrisisActors.org:
Crisis Actors - A Closer Look - YouTube
And here, at the end, there's a post by a sheeple representative which is just hilarious if you understand reality:
Sandy Hook School Shooting Hoax Fraud Robbie Parker Actor Exposed | LinkedIn
There's us conspiracy theorists and then there's these sheeple, and we keep on angering the sheeple, because we don't believe the lies we're being fed by the US government and mainstream media. But to us their angry reaction when we tell them the truth is hilarious. It's as if we told a child that santa claus doesn't exist. Sorry, sheeple, for telling you the truth, but you just don't have a right to be so stupid and ignorant, because people are being killed in your name because of your stupidity. And this unfortunately applies to almost everyone I know.
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Yamato
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the "bracket" order
Back at work.
I've been thinking.
My newly acquired profitability is quite impressive, and it resulted from learning to close unprofitable trades at the end of the day.
It might be improved. It just "might", because it all depends on complex calculations of risk/reward ratio, how much you risk and how much you're standing to make, and these simply cannot be computed when you're doing discretionary trading, so I am going by guesstimates and trial and error.
In other words, today I was wondering whether I should be using, for my discretionary trading, a bracket order rather than the usual closing at the end of the day of unprofitable discretionary trades.
I am wondering this, because yesterday, I wanted to make a quick 100 dollars on JPY and ended up losing 600 dollars as a consequence. This means that, if I want these quick 100 dollars trades to be profitable, I'd have to be right on 90% of them. And that is simply not the case. So, I might benefit from entering bracket orders each time. Provided that by doing so, I won't miss out on many trades that don't go my way from the start.
Overall, I believe these bracket orders are better than closing positions at the end of the day. I am starting out by using very wide bracket orders, which would still prevent losses like yesterday's. You just can't accept losing 600 dollars from a trade where you were trying to make 100 dollars.
I am not saying that was gambling or that it was me being out of control, because with this type of trading I have already made thousands of dollars in a few months. So, enough with saying "everything sucked until here and everything will be perfect from now on". Because that is a tendency I have, and that is a mistaken perspective of things. Things can only be perfect if you knew the future.
Let's say that the first important step forward for me was, unequivocally, to accept losses and thus to close losing trades, without letting them wipe out my account. This alone took me over 15 years to learn (of course I've been working on my systems in the meanwhile), but it took me from being unprofitable to being profitable.
Now another step forward would be to refine this art of exiting losing trades, and, if this means using a bracket order, another part of my art should be in refining the proportions of the bracket order, and also to improve my win percentage, by refining my entry skills. These things are all connected, because if you have a different exit method, this will also affect your entry method to some degree.
For now I am using HotKeys on TWS and I have set up a bracket order that has a target profit as large as the stoploss, so that if I am right on a majority of trades, I will be profitable (forget about commissions and spread costs, because they're almost irrelevant).
Another big advantage of the bracket order (even more if triggered by a LMT order) is that it's like fishing. You put it there, and you don't have to monitor it. If it goes well, great. If it doesn't, you don't have to worry about it either.
Before, I had to monitor my trade all the time, and it was very stressful, especially knowing that things could go wrong and I could lose thousands in a matter of seconds, depending on the economic calendar, the news releases, that thing that happens at 14.30 CET for example.
So this is better of course, but I now have to remember that things don't become easy just because you have automated the bracket order on the TWS hotkeys function.
Because I have a tendency to click those hotkeys more superficially than if I didn't have a stoploss. You know what I mean? You push 1 button, and everything is set up safely so that you have a target profit and a stoploss, and that gives you a false sense of security and makes you push the trade button too often, which means you will then be unprofitable.
So, I should be just as picky as I was before, but use the bracket order. I should combine the best of both methods. It's similar to those free climbers, the solo climbing or whatever is called. If you know that when you fall you die, you're going to be a better climber presumably.... Forget it, bad example. If you are playing pool for free, you won't play as well as when you pay and everyone is watching you.
So, now that I am using a bracket order my trades are much cheaper, because I know that if I am wrong I don't stand to lose 500 dollars or even 2000 dollars, but only 200 dollars. But I must stay as focused as when I was trading without a safety net (or a safety net that prevented me from getting killed but didn't prevent me from getting hurt).
For example, this morning, before coming to work, I placed 3 trades, and maybe just two of them were good, whereas the third one was a revenge trade on the JPY, which yesterday caused me to lose the 600 dollars I was talking about.
So I made the very mistake I was talking about: your trades are cheaper and you place them more superficially and then you end up being unprofitable. This reaches total unprofitability when you set your stoploss so close that each trade costs you only 50 dollars (5 ticks or so) and you both trade superficially and you can't really predict exactly where the market will go, so what happens is that with such a tight bracket order you actually lose money. That in turn leads you to discarding a bracket order, which is not a good idea.
There are several forces at play in the market, and a target profit is a good thing, probably better than a trailing stop, considering that price doesn't grow regularly, but more according to the time of the day. In other words, if it's almost 22 CET, you better take whatever profit the market has given you, because it tends to slow down by that hour. On the other hand, if you're going against the daily trend, you have only 2 hours to do so, before, towards the end, the daily trend resumes (usually it does).
It's a long story, but basically the trailing stop is not as good as it seems. Bracket order is better in my opinion (and for my type of trading).
...
This guy feels the same way about it:
Peace of Mind With Bracket Orders | TheStockBandit.net
Anyway, this is not a good excuse either, so I guess I'll have to counter that feeling in some other way, but I really should use the bracket order from now on. I just have to remind myself that profit will not be as easy as the bracket order makes it seem.
For example, out of the 3 trades I started this morning, only one of them was profitable so far. The other two are still open, at break-even right now. If I were at home, I'd close them both.
Back at work.
I've been thinking.
My newly acquired profitability is quite impressive, and it resulted from learning to close unprofitable trades at the end of the day.
It might be improved. It just "might", because it all depends on complex calculations of risk/reward ratio, how much you risk and how much you're standing to make, and these simply cannot be computed when you're doing discretionary trading, so I am going by guesstimates and trial and error.
In other words, today I was wondering whether I should be using, for my discretionary trading, a bracket order rather than the usual closing at the end of the day of unprofitable discretionary trades.
I am wondering this, because yesterday, I wanted to make a quick 100 dollars on JPY and ended up losing 600 dollars as a consequence. This means that, if I want these quick 100 dollars trades to be profitable, I'd have to be right on 90% of them. And that is simply not the case. So, I might benefit from entering bracket orders each time. Provided that by doing so, I won't miss out on many trades that don't go my way from the start.
Overall, I believe these bracket orders are better than closing positions at the end of the day. I am starting out by using very wide bracket orders, which would still prevent losses like yesterday's. You just can't accept losing 600 dollars from a trade where you were trying to make 100 dollars.
I am not saying that was gambling or that it was me being out of control, because with this type of trading I have already made thousands of dollars in a few months. So, enough with saying "everything sucked until here and everything will be perfect from now on". Because that is a tendency I have, and that is a mistaken perspective of things. Things can only be perfect if you knew the future.
Let's say that the first important step forward for me was, unequivocally, to accept losses and thus to close losing trades, without letting them wipe out my account. This alone took me over 15 years to learn (of course I've been working on my systems in the meanwhile), but it took me from being unprofitable to being profitable.
Now another step forward would be to refine this art of exiting losing trades, and, if this means using a bracket order, another part of my art should be in refining the proportions of the bracket order, and also to improve my win percentage, by refining my entry skills. These things are all connected, because if you have a different exit method, this will also affect your entry method to some degree.
For now I am using HotKeys on TWS and I have set up a bracket order that has a target profit as large as the stoploss, so that if I am right on a majority of trades, I will be profitable (forget about commissions and spread costs, because they're almost irrelevant).
Another big advantage of the bracket order (even more if triggered by a LMT order) is that it's like fishing. You put it there, and you don't have to monitor it. If it goes well, great. If it doesn't, you don't have to worry about it either.
Before, I had to monitor my trade all the time, and it was very stressful, especially knowing that things could go wrong and I could lose thousands in a matter of seconds, depending on the economic calendar, the news releases, that thing that happens at 14.30 CET for example.
So this is better of course, but I now have to remember that things don't become easy just because you have automated the bracket order on the TWS hotkeys function.
Because I have a tendency to click those hotkeys more superficially than if I didn't have a stoploss. You know what I mean? You push 1 button, and everything is set up safely so that you have a target profit and a stoploss, and that gives you a false sense of security and makes you push the trade button too often, which means you will then be unprofitable.
So, I should be just as picky as I was before, but use the bracket order. I should combine the best of both methods. It's similar to those free climbers, the solo climbing or whatever is called. If you know that when you fall you die, you're going to be a better climber presumably.... Forget it, bad example. If you are playing pool for free, you won't play as well as when you pay and everyone is watching you.
So, now that I am using a bracket order my trades are much cheaper, because I know that if I am wrong I don't stand to lose 500 dollars or even 2000 dollars, but only 200 dollars. But I must stay as focused as when I was trading without a safety net (or a safety net that prevented me from getting killed but didn't prevent me from getting hurt).
For example, this morning, before coming to work, I placed 3 trades, and maybe just two of them were good, whereas the third one was a revenge trade on the JPY, which yesterday caused me to lose the 600 dollars I was talking about.
So I made the very mistake I was talking about: your trades are cheaper and you place them more superficially and then you end up being unprofitable. This reaches total unprofitability when you set your stoploss so close that each trade costs you only 50 dollars (5 ticks or so) and you both trade superficially and you can't really predict exactly where the market will go, so what happens is that with such a tight bracket order you actually lose money. That in turn leads you to discarding a bracket order, which is not a good idea.
There are several forces at play in the market, and a target profit is a good thing, probably better than a trailing stop, considering that price doesn't grow regularly, but more according to the time of the day. In other words, if it's almost 22 CET, you better take whatever profit the market has given you, because it tends to slow down by that hour. On the other hand, if you're going against the daily trend, you have only 2 hours to do so, before, towards the end, the daily trend resumes (usually it does).
It's a long story, but basically the trailing stop is not as good as it seems. Bracket order is better in my opinion (and for my type of trading).
...
This guy feels the same way about it:
Peace of Mind With Bracket Orders | TheStockBandit.net
"I can’t think of an excuse good enough to avoid using these orders"... interesting. Well, it's not an excuse. The thing is that when you have these orders set up on hotkeys, which is the only way you can use them because otherwise it's too complicated to use them, then, once they're set up, it is so easy to use them that they result in overtrading, due to that feeling of false security they give you.
Anyway, this is not a good excuse either, so I guess I'll have to counter that feeling in some other way, but I really should use the bracket order from now on. I just have to remind myself that profit will not be as easy as the bracket order makes it seem.
For example, out of the 3 trades I started this morning, only one of them was profitable so far. The other two are still open, at break-even right now. If I were at home, I'd close them both.
Last edited:
Yamato
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Regarding the roommate who touched me, total success. After telling him for only 2 months he finally got the message and stopped touching me. Good riddance.
Now he's still bugging me with questions about excel, scanners, printers, several times a day, but it's a whole different story than being touched several times a day.
I had never realized how heavy this guy, as when I told him to stop. I felt some sense of... discomfort, but never realized it nor voiced it. It was like a torture.
In some way, when you feel you can't complain, out of politeness, you also suppress your own discomfort. Then, when you decide you won't take it anymore, then that's when you both voice and realize your discomfort.
Now he's still bugging me with questions about excel, scanners, printers, several times a day, but it's a whole different story than being touched several times a day.
I had never realized how heavy this guy, as when I told him to stop. I felt some sense of... discomfort, but never realized it nor voiced it. It was like a torture.
In some way, when you feel you can't complain, out of politeness, you also suppress your own discomfort. Then, when you decide you won't take it anymore, then that's when you both voice and realize your discomfort.
Last edited:
Yamato
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my two remaining open discretionary trades
My NG trade was closed very early, with a 200 dollars profit. Now I am waiting for GBL to go down 30 ticks:
And I am waiting for JPY to go up 30 ticks:
They are both already some ticks against me. But it's been going on for hours. These trades have already been open for over 5 hours. This shows both that my takeprofits weren't that good, and that maybe it was wrong to enter the trades, but it also shows that my stoplosses were placed correctly.
If, after all these years, thanks to the bracket order and to more intuition in my entries, I have finally become profitable, then I really have solved all my financial problems. Provided that the financial collapse doesn't hit us now.
...
Ok, the JPY stoploss just got taken, so that means that all my profit from the NG went to pay for the loss on the JPY. Now it all depends on how the GBL trade ends.
...
Lost on GBL as well.
...
Lost quite a bit of money by doubling up (not just once, by "doubling up" I mean adding contracts until you have capital) on that GBL trade, and on an another NQ trade. I must remember to also not double up. If you exit because of a loss, you should not allow yourself to enter the same future again. Usually it's revenge trading and it's unprofitable.
My NG trade was closed very early, with a 200 dollars profit. Now I am waiting for GBL to go down 30 ticks:
And I am waiting for JPY to go up 30 ticks:
They are both already some ticks against me. But it's been going on for hours. These trades have already been open for over 5 hours. This shows both that my takeprofits weren't that good, and that maybe it was wrong to enter the trades, but it also shows that my stoplosses were placed correctly.
If, after all these years, thanks to the bracket order and to more intuition in my entries, I have finally become profitable, then I really have solved all my financial problems. Provided that the financial collapse doesn't hit us now.
...
Ok, the JPY stoploss just got taken, so that means that all my profit from the NG went to pay for the loss on the JPY. Now it all depends on how the GBL trade ends.
...
Lost on GBL as well.
...
Lost quite a bit of money by doubling up (not just once, by "doubling up" I mean adding contracts until you have capital) on that GBL trade, and on an another NQ trade. I must remember to also not double up. If you exit because of a loss, you should not allow yourself to enter the same future again. Usually it's revenge trading and it's unprofitable.
Last edited:
Yamato
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why I disappeared for 24 hours
It's rare that I don't write here for as long as 24 hours but it is justified. Yesterday I had one of those rare experiences that only trading can provide. You are right, you are not patient enough, you go in the other direction because you're pissed off that you didn't make money by being right, and you lose money. So basically instead of going from 14k to 16k, I went from 14k to 12k. It hurts so badly, emotionally, that I just went to bed and because of it, it is the first time I got enough sleep in the past 2 months.
Now I am still recovering. So much for the "gods of the market" being with me. They either don't exist or they are playing tricks on me. So I might as well be rational and forget about the "gods of the market".
Good thing I am not one of those people who break things or punch the wall, because this experience would have caused me to go into a violent rampage.
...
Damn, I feel like David Seville of Alvin and the Chipmunks after his job interview. I am watching it now.
THE ALVIN SHOW Alvin's Harmonica WITHOUT LYRICS!!!!!!! - YouTube
Alvin and the Chipmunks - Wikipedia, the free encyclopedia
Alvin and the Chipmunks at the Chinese Theatre - YouTube
It's rare that I don't write here for as long as 24 hours but it is justified. Yesterday I had one of those rare experiences that only trading can provide. You are right, you are not patient enough, you go in the other direction because you're pissed off that you didn't make money by being right, and you lose money. So basically instead of going from 14k to 16k, I went from 14k to 12k. It hurts so badly, emotionally, that I just went to bed and because of it, it is the first time I got enough sleep in the past 2 months.
Now I am still recovering. So much for the "gods of the market" being with me. They either don't exist or they are playing tricks on me. So I might as well be rational and forget about the "gods of the market".
Good thing I am not one of those people who break things or punch the wall, because this experience would have caused me to go into a violent rampage.
...
Damn, I feel like David Seville of Alvin and the Chipmunks after his job interview. I am watching it now.
THE ALVIN SHOW Alvin's Harmonica WITHOUT LYRICS!!!!!!! - YouTube
Alvin and the Chipmunks - Wikipedia, the free encyclopedia
Alvin and the Chipmunks at the Chinese Theatre - YouTube
Last edited:
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Last edited:
Yamato
Legendary member
- Messages
- 9,840
- Likes
- 246
Yamato
Legendary member
- Messages
- 9,840
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- 246
