Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
indextrader7
-
Content Count
60 -
Joined
-
Last visited
Everything posted by indextrader7
-
Didn't keep losses small enough today! Pretty upset at a lapse in discipline money management. Slightly profitable day $ wise, but -11 ticks. Looking forward to feedback on the video. What would you rather me talk about during it? I really want this thread to revolve around the trade recap videos.
-
We already took a look at my drawdown chart. Now let's look at my trading stats for the year. The "equation" (if you will) for profitability is looking at the combination of win% and your avgwin:avgloss ratio. I use the past 20 trades for each calculation. Have no clue if 20 trades is a good number or what, it just sounded like it would work. Have a look at each graph. Looking forward to feedback.
-
It's great that you've recognized the overall market conditions (uptrend in your example) and are looking for a high probability entry with the bias. Personally, I like to see a bit of confirmation, rather than "catching a falling knife". There are many ways to get confirmation such as a reversal pattern on a lower timeframe, break of a trendline, bullish candle pattern, an indicator of choice, etc. The rare times when I take a position before some type of confirmation (going long as in your example),is when price is showing weakness as it enters a major support level. Regardless of what your confirmation is, it also gives you a reason to exit the trade when the setup becomes invalidated. -Best
-
Here's what my drawdowns look like since I began trading full time in February of this year. It's on a per-trade basis, not end of day data. Risk is the most important thing to keep up with. Risk management is priority numero uno.
-
Stop placement, for me, is all about having the stop at a level that will invalidate your future expectation, and it's something that (I am supposed to) decide on before I even enter the trade. Should my stop be moved to breakeven? That depends on at this point in time, if price retraced to that level, would I still want to be in the trade? That's all there is to it. You said, "Specifically where to place a stop after getting first target (T1) and/or when to go flat so as not to give back more than T1 gives me." This is making trading decisions based on previous actions by you, and that's never correct. Whether it's making a decision based on your last trade, or making a stop placement based on how much profit was taken at T1, it's not correct analysis. The only correct analysis is to remain pure, in the zone, unbiased, with the market. We all struggle with this. Don't let previous decisions affect future ones.
-
Long term intentions are to just create a good, sharing, respectful environment for sharing and everyone growing in their own trading. This will be a trading blog for me, but I think a group setting will develop and everyone benefits. You'll fully see my style as soon as the moderators allow me to post my trade recap videos that are on youtube.
-
I'll get better at doing these videos as I find out what content I need to talk about more. Feedback is appreciated.
-
I haven't done much "real" analysis on this. I imagine they have a fairly high correlation. I think there are so many arbitrage, quant, hft, etc traders on the ES that that's the reason it moves in those tight blocks so often (as in a 1-2 tick range just miserable to look at for my style). The russell/TF tends to move quicker and farther. You know it has 10 ticks/point vs the ES's 4, and the TF moves more points on an average day. For me it means a 1 tick slippage on a market entry order is much less of a deal because that's a smaller percentage of my average winning/losing trade in terms of ticks, so that's a plus. I certainly don't want this thread to get off on a tangent of ES vs TF. They're both great markets to trade, and it comes down to personal preference. (I've tried to post a recap video for yesterday (4-13-12) but since i'm new, it's taking a very long time for my posts to hit. At the moment I very much prefer TF.
-
Thank you. I started out trading stocks in 2005 as that was all I knew you could trade. Reading every trading book I could get my hands on and learning. After working on a trading floor, I learned about currency trading and switched over to that. I was put off with the lack of regulation/slippage/etc with forex, so I switched over to futures to continue to trade the Euro. Then I learned about the beautiful, transparent, liquid, emini index markets and fell in love. Most of all I like they're rhythm. I'm a descretionary price action trader. I consider my method to be very short-term swing trading. I like to trade direct price movements. I try and be with the "flow" of the market. I watch 50 tick, 250 tick, and 5minute charts. I trade pullbacks within trends, breakouts, breakout failures, and tests of support/resistance levels on higher timeframes. I used to trade currencies of 1-hour and 4-hour charts, but it never suited my personality. I like to have very tight stop-losses and focus intensely for a few hours a day as opposed to always watching for some signal/pattern to develop day/night like I used to. Hope that answers your questions.
-
I've been trading for over eight years now, and I'm looking to get more involved with the trading community. I don't know anyone else that trades really. I'll be posting daily trade recaps and walking through each trade I made for the day. I think it will be good for me to be public with this, and hopefully you guys gain from it as well. I've never been a part of forums before, so bear with me. I trade short term price action on the emini russell 2000 and emini s&p contracts. So far in April I'm up 8.6% with a max drawdown of 3.2%. In March I made 22.7% with a max drawdown of 4.5%. I'm very analytical and have a robust trading spreadsheet I update daily to monitor my performance (true performance, risk adjusted. not just looking at %p/l which doesn't tell us much) and my susceptibility for making trading/money management errors. I'm looking forward to this!