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Gamera

Market Wizard
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Posts posted by Gamera

  6. Posted

    Prep and actions for the 26th, :angry: Sometimes I blow my own mind, I picked the trades, I just cant manage my way out of a wet paper bag. Trade 1 stop out was per the rules, trade 2 hesitation seemed like chop = exit, there was no way I was touching the trade 6 minutes after trade 2 exit, and I shake my head at trade 3.

    nq26102017multiprep.thumb.png.b1de5d5a71fb666af42ac0eb82f7f88f.png

    nq261020171min.thumb.png.d1b826fd7b8b70cdd66fc3f2547bbae2.png

  11. Posted · Edited by Gamera

    Prep and actions for the 18th, I've had concerns for a while that price could go back into a grind similar to the start of the year with lots of back fill and chop during the session, not that this is an example, its just a thought as price pushes higher again.

    nq18102017multiprep.thumb.png.59a1dcd998c315a2f66d17e518510918.png

    nq181020171min.thumb.png.7e5517a11860f9446418270fa708be05.png

  19. Posted

    Consider that this may be a time to work on the ‘subjective’ aspect of stops, instead of ‘stats’. Instead of “dedicate a weekend to this study” on objective optimal stop placement for your system - ie ‘study long (may be) study wrong”... it might be better to ask questions like ‘is there a way for me to utilize (and possibly move) stops DURING trades to preempt / intervene in my “emotion and bad habits” ?’ etc etc

    You need to intervene in the reactivity before. .. to get out in front of these things a little bit ie by the time you’re aware of “emotions” it’s too late. 'Manipulating' stops may be a practical, non sycho, way for you to do that. If not, "dedicate a weekend" to finding other ways to intervene in the reactivity would be better time spent than objectively 'statistizing' on stop placements... hth

     

    z,

     

    I'll try to answer as best I can. The idea was always to move stops if I happened to take a trade that went in one direction or the other, trailing the stops behind each retracement until price got an area where it was likely to do something different and perhaps changing the position depending on the price behaviour.

     

    At the end of August I took some time to think about what some of the problems I was having were, one of the biggest was how I react in the opening minutes of a trade. I have an expectation of how price should behave once a trade is triggered, this is something gained from lots of observation. Most trades I took were not behaving as I would expect which puts me under pressure immediately and gets the emotions overly involved in the decision making process, hence the knee jerk reactions and overthinking.

     

    I believe the problem behind this was down to my entries, I needed so much confirmation that I was taking the 3rd or 4th trigger which was often at a point where price was likely to chop and backfill putting me under pressure (price is not doing what I expect, what gives) 10 second triggers would move into 1 minute rets, which is normal but not what one expects giving the premise of the trade at hand.

     

    Having seen late entries as a problem I took the route of marginal gains and have tried to take the first entries (trying to practice better at this but I find myself a little resistant at times). If the thesis about the trade is correct PA behaves as expected (it goes) and this has taken a lot of the pressure off as I have breathing room to think about things more objectively, I can also employ tighter initial stops which helps. Once the trade is underway its just a case of watching the PA for anything that suggests the run has come to an end.

     

    September was a positive month which is something I've not been able to say for a while, whether I can sustain that through this month is something to be seen but all I can say is that taking the earlier entries led to a lot less stress and a more positive outcome.

     

    G

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