The unlucky trader

[chump]

"Trading is a discipline!"...yes ,that is very good

 

[fibonelli]

Hi JT
Sorry to hear of your difficulties at the mo
1. When you did your backtest, do you know what was the highest number of consecutive winning and losing trades?
2. Have you calculated the expectancy of your strategy?
3. It may be a good idea (?) to do a longer backtest and may be backtest also a couple of longer time frames e.g. 5 mins and 15 mins if you're trading tick charts.
4. Have you written in your trading plan to scale down your trading size when on a losing streak (see market wizard books)?
With best wishes.
Fibonelli

 

[JTrader]

hmm, well it stopped falling bang on 25/30 your golden number ? this Am, now trading 60, see if they sell it from here? any failure to advance 60 to take 70 out might suggest sub 25 will be eyed?

Hi CB

You seemed to be pretty accurate with this judgement. What chart timeframe were you looking at & how did you decide on a bounce of 30 heading to 3360 or 3370 as a target, with a possible reversal back down to 3325? Is this what you meant?

Taking a bigger view like this is not something i am used to, concentrtating on my 10-tick small timeframe.
I'm now looking at the impact of increasing my timeframe, to filter out some more noise.

Do you trade EURUSD solely? If so, off what timeframe?

Many thanks.

 

[Crap Buddist]

Hi CB

You seemed to be pretty accurate with this judgement. What chart timeframe were you looking at & how did you decide on a bounce of 30 heading to 3360 or 3370 as a target, with a possible reversal back down to 3325? Is this what you meant?

Taking a bigger view like this is not something i am used to, concentrtating on my 10-tick small timeframe.
I'm now looking at the impact of increasing my timeframe, to filter out some more noise.

Do you trade EURUSD solely? If so, off what timeframe?

Many thanks.

Hello JT, I keep an eye on the Euro, . First time I have opened a Euro chart up in about a month . Im aware of the quotes though, But I guess you can apply similar principles to any chart.

How do I get to that conclusion? Just look at what the price had done, had done and is doing. Then you anticipate based on that observation. Like a chess game, thinking ahead . Its difficult for anyone to transfer to another what it is one person see's .

But more importantly perhaps, is also knowing that alot of trading is about a persons own progression or growth, especially those on the journey of descretionary trading. Do we stop growing, should we ? You said , (roughly ) "Im impatient and need to prove to myself what works quickly" Well to that i'd imagine a few might suggest it no bad thing,if not vital , that you need to learn patience and take your time in proving what works.

You see its the opposite of how we perhaps need to change ourselves within.

Those ugly trades you didnt like the look of, feeling of, fear of etc, again perhaps need to change to take those, change and do the opposite again , back to growth of the individual , this is your growth. And this will be of greatest benefit to you if it comes from your own observations.

Timeframe wise, mainly 15 minutes and 5, but, you can build as I do the 15 minute bars into an hourly etc..... just look at 4 ,15 minute bars theres an hourly bar . ditto that with any timeframe. , but doing this building to me just gives a sense of detail within , an intraspection , or looking under the skin of the trend, plus the quotes themselves you will see a snap sometimes at a certain level , a rejection, more info,in a stalling price trend, etc, etc.

Hourlies, hmm personally to me they are too distant, i mean a daily bar, thats dead, static, no pulse, im aware of what an hourly will look like just by watching 4 x 15 froming etc. We have to find whats best for ourselves, from our own observations.

I think you may need to decide as has been pointed out what you want to be with trading. If you are drawn to descretion or want to head that route or study it, read Reminiscences of a stock operator .

I read that a few years back and I am just having a re read, WOW. lol its all in there. First time around you may think its a good novel to read, but when you learn, and come across the text later on, it hits you as a masterpiece.

 

[chump]

"Then you anticipate based on that observation. Like a chess game, thinking ahead ".My god we sound like twins ...do you play ?

 

[Crap Buddist]

"Then you anticipate based on that observation. Like a chess game, thinking ahead ".My god we sound like twins ...do you play ?

I used to play, when I was 14/16 but hmm sadly not since then, however I really enjoyed it, my brother in law used to thrash me and i thought i was good , lol ,before we had computers in the home that not many in my circle enjoyed it, hence only infrequent games within & visiting family, (freinds didnt play it and we used to use every good moment to be outside and kick a football about) but I used to love the challenge ,the study of the battle, the thinking of so many moves ahead.

I remember seeing Nigel Short on TV and his shot against Kasparov ( I think) , crikey some years back 1980's ?


hmm not ever tried speed chess, my opponents used to say "hurry up" "any time today" whilst I was mulling over more moves in the future than i should of perhaps .

Thanks for the reminder Chump, very fond memories of my youthful giddy ambitions to slaughter adult opponents .

I think chess is an old school game, but maybe with the internet its gaining popularity slowly. ?