S&P 500 & other indexes - intraday. Plus chat

Funny enough whenever I reduce the amount of trades I take I find my profits increase so I guess for me less is definatley more as far as trading is concerned :)
 
Pat494 said:
I wasn't implying you aren't up to it Rob and of course no insult intended to anyone else.
I freely admit I need to rebuild a bit of confidence after a torrid time every now and again.
Your valuable comments are always welcome
Click to expand...

I didnt take any offence Pat :)

It did dawn on me though that I hadnt explained what causes me to stop and why I do hence I thought I would illuminate this area.

In feb, I had a 2 week period where I just lacked confidence. You can see it on the pts/equity curve for this year - it just moves sideways. I spent quite a bit of time airing this crisis of confidence with my wife.

Her advice was to 'Man up'. It made me laugh and made me realise the problem was of my making and I was in control of this situation.

Recovery and maintenance of confidence are crucial to consistent performance and it is an area that is rarely discussed.
 
tim3 said:
Funny enough whenever I reduce the amount of trades I take I find my profits increase so I guess for me less is definatley more as far as trading is concerned :)
Click to expand...

Why dont you fix a limit to the amount of trades you take for a while and see what happens?

Maybe work out your average and standard deviation before you do this, do it until you get a good sample size and then measure again?

My money is on your performance improving......
 
robster970 said:
.

Recovery and maintenance of confidence are crucial to consistent performance and it is an area that is rarely discussed.
Click to expand...

It is a tricky area of psychology imho

The newish idea given to kids/sportsmen that you can achieve anything you set your mind to - is in my opinion sometimes setting the bar to unrealistic heights and subsequent failure is inevitable. So I try to make my targets possible and targets reached breeds confidence.
 
Here is a daily situation.
I often fail to realize whether it is a black line pullback situation or a red line reversal.

Any comments are welcome
 

Attachments

  • S&P 500.PNG
    S&P 500.PNG
    126.9 KB · Views: 136
Pat494 said:
It is a tricky area of psychology imho

The newish idea given to kids/sportsmen that you can achieve anything you set your mind to - is in my opinion sometimes setting the bar to unrealistic heights and subsequent failure is inevitable. So I try to make my targets possible and achievements reached breeds confidence.
Click to expand...

I think sports psychology is useful imo. However there is a societal issue in how failure is perceived that is disproportionately large, pervasive and very damaging.

You only get better at something by being able to accept failure, analyse why it happened and then take realistic steps to redress the causes. Failure should be embraced, not derided. It demonstrates progress and change.
 
Pat494 said:
Here is a daily situation.
I often fail to realize whether it is a black line pullback situation or a red line reversal.

Any comments are welcome
Click to expand...

This is a common problem. I can tell you how I solved this but it is very subjective:

1. I form an opinion of the most likely outcome.
2. I play out how and when I will trade for BOTH scenarios though.
3. I assess what is going on and react accordingly and drop my bias in a heartbeat if the bias is wrong.
4. If a better alternative presents itself then I take that trade instead.
 
robster970 said:
Why dont you fix a limit to the amount of trades you take for a while and see what happens?

Maybe work out your average and standard deviation before you do this, do it until you get a good sample size and then measure again?

My money is on your performance improving......
Click to expand...

Good advice, over trading can be a killer, I've being there, get on a good run you feel invincible, until you lose!!:mad:

I day trade only and look to trade 3-4 times a day, then I close the door, until the next day (so to speak). I also focus on one Index only, rather than flying arounnd analysing multiple index and forex charts. Certainly improved my trading, bank balance, health and sanity.:)
 
robster970 said:
This is a common problem. I can tell you how I solved this but it is very subjective:

1. I form an opinion of the most likely outcome.
2. I play out how and when I will trade for BOTH scenarios though.
3. I assess what is going on and react accordingly and drop my bias in a heartbeat if the bias is wrong.
4. If a better alternative presents itself then I take that trade instead.
Click to expand...

Thanks
In hindsight I would call it a pullback as it didn't go very far up from the blue arrow
 

Attachments

  • S&P 500.PNG
    S&P 500.PNG
    127.4 KB · Views: 187
Well I have been watching it crawl up for the last 1/2 hour. In for a long but may have left it too late.
 
Not S&P but pretty funny....

6-14-201211-53-46AM.png


Waited a good 40 minutes for it to come to the bottom of the range. Went long 3 contracts, got first target, checked TWS to see what the fill was & no Corn trades there.

Looked back @ the DOM & saw I hadn't switched the account on the DOM after logging onto IB.

What a dick.
 
robster970 said:
Why dont you fix a limit to the amount of trades you take for a while and see what happens?

Maybe work out your average and standard deviation before you do this, do it until you get a good sample size and then measure again?

My money is on your performance improving......
Click to expand...

Thanks for the feedback great advice,have actually been doing this recently with some good results.

Worrying less about the financial result of any trade instead focusing on improving my skills as a trader,the first being an ability to follow trading a plan!

After many years of trading I only recently realised just how powerful a temptation overtrading is.
 
piggybridges said:
10 ticks per week target Robster? As in 2.5 ES points?
Click to expand...

Yes.

Curious?

e2a - I just re-read this. I have been in the pub since 3pm this afternoon and had a really good evening so the execution of this post came over as terse. From my PoV, I have had a lot of value out of T2W over the years and reckon that it's about time I put some useful sh1t back in. Hence if people are interested in how to make money off 10 ticks per week then I'm more than happy to explain the mechanics of it.
 
Last edited:
You must log in or register to reply here.

Similar threads

U
S & P 500
2
Replies
21
Views
4K
tomorton
T
V
FREE S&P and other indices intraday quotes
Replies
0
Views
1K
vanhuyen
V
E
E-mini S&P 500
2 3
Replies
50
Views
17K
delzako
D
G
S&P 500 top
Replies
4
Views
2K
gkareer
G
L
S&P 500 Fund
Replies
1
Views
1K
N Rothschild
N Rothschild
Top