Jump to content

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.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Gamera

Testing Times.

Recommended Posts

Actions for the 4th.  Feel like the market is out to get me sometimes.  On another note, having gone over my trades, I noticed how bad I am at this.  My record is particularly bad in the 30 minutes after 10am so for the time being no more initiating trades in that half hour period.  I also need to continue working on my resilience in the face of adverse PA, that's if I can get a trade off the ground in the opening minutes.nq040720181min.thumb.png.f3d5fe1c5391963ddaa47b28f7ae4d39.pngnq04092018notes.thumb.png.78a62b9aebf2d1267550a6e04b92b9e7.png

Share this post


Link to post
Share on other sites

Actions for the 18th.  Feeling pretty frustrated with myself, T1 was not as clear cut as I would have liked and the following highs ended with deep rets.  I thought price would grind higher, by T2 I thought the volume was spasmodic (volume spikes on up and down bars) and not really offering much information, I took the shorts but thought they were likely to fail.  Despite thinking price would go higher I could not see an entry that I thought would not be whipped by the PA.  I was out of position in what I saw as a grind higher that had a high risk of trashing any longs in PA that was a little indecisive in a volume environment that offered very little in the way of clues, trending chop.  I wanted to shut down before T2 but forced out trades trying to make something out of nothing.

I missed a long right off the open as I was ill prepared for it, if I had been long I would likely have bailed out, but, being better positioned would allow one to relax and let it run instead of trying to chase and getting stung.nq180920181min.thumb.png.3840a57a3f32b972c151d14fb993f9f4.png

Share this post


Link to post
Share on other sites

I'm going to start posting again but will take some time to try and fill in the blanks since my last post.

 

If it wasnt obvious from my last few posts I was in the process of blowing up, it was not something that spontaneously happened but was rather the culmination of a number of factors over a lengthy period of time that led me to think it wasn't possible for me to be profitable, at least not by how I was doing things.  I felt as if every trade I touched was going to fail and had developed a losers expectation, in tweaking the strat to avoid losses I had more losers which exacerbated the problem. 

I was increasingly unable to figure out what was going on, the charts looked like mince and I doubted what I was coming up with would stand any scrutiny in real time.  I was in a perpetual state of tilt and I was left feeling like I was being screwed around with over the last couple of months leading up to the pause in September, none of this was my fault of course, it was just the market playing its games.

The frustration of watching trades failing within seconds had led me to the conclusion that I needed a change of strategy, I started to play around with a few ideas but a nagging doubt remained.  What use is there having a strategy if I cant follow it consistently?  

I came across my copy off trading in the zone, which I haven't read in a while and by chapter 3 I was ready to hit myself over the head with it.  How the f*** did my attitude get so bent out of shape?  It was a slow erosion that took place over a prolonged time frame, probably started back in 2017 when my results were sucking a lot after having spent the latter half of '16 absent from the markets.  I was aware that I had issues gnawing away at the back of my mind but actively avoided dealing with them which led to me becoming increasingly frustrated as time wore on, I was to blame for all my failings and I needed to accept that "Taking responsibility is the cornerstone of a winning attitude". 

I started simming again in the last week of November and results have been better, I'm finding it easier to take trades without foaming at the mouth, its easier to hold them which is resulting in bigger gains and I am a little more patient with where I take the trades (I looked over my charts and I was taking trades all over the place and in particular places where PA was likely to chop), BUT, when I hit a patch where a handful of trades don't work out so well my attitude starts to waiver.  I seem to over trade and I also tighten up on my trades choking them out, this is a lack of resilience, I think I have to persevere with it to see if it can hold up because my results have been better than they have been in a long time.

I am thinking about switching to a 2 or 3 lot strategy as I find a 1 lot a little restrictive, I cant realise the full potential of a move as I have been targeting the first hurdle for an exit, it might be more productive to take one off early and leave the other to run.  With a range play in mind take one off at the MP and leave the other for the opposing extreme, just a thought for the time being.

Edited by Gamera

Share this post


Link to post
Share on other sites

Actions for the 14th.  Not the greatest result but its something, I move my stops positive when the trade moves far enough but have a tendency to get stung on it.  In my last post I was entertaining the idea of trading 2 lots as a lot of my trades meet that requirement now that I could target that initial move with one and let the other breath a little, one of the many things I'm trying to figure out.

nq140120191min.png

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 9th December 2019. Events to Look Out For Next Week 9th December 2019. *Following the OPEC meeting this week and the  surprisingly strong US payroll data, three interest rate decisions are scheduled next week. Other than Central Banks, the event of the week is the UK Parliamentary Election on Thursday. Monday – 09 December 2019 * RBA’s Governor Lowe speech (AUD, GMT 22:05) – Due to speak at the AusPayNet Summit, in Sydney. Tuesday – 10 December 2019 * Consumer Price Index (CNY, GMT 01:30) – September’s Chinese CPI is seen unchanged at 0.7% while the PPI figure is expected to decline further to -1.2%. The overall reading for CPI is estimated to post a gain up to 2.9% y/y. * ZEW Economic Sentiment (EUR, GMT 10:00) – Economic Sentiment for October is projected at -27 from the -22.5 seen last month, as the current conditions indicator for Germany turned negative. The overall Eurozone reading though is expected to decline slightly further to -33.0 from -22.4. A lower than expected outcome, ties in with the stagnation in market sentiment at the start of the month. Wednesday – 11 December 2019 * Inflation Rate (USD, GMT 13:30) – A 0.2% November headline CPI rise is expected with a 0.2% core price increase, following respective October readings of 0.4% and 0.2%. As-expected gains would result in a headline y/y increase of 2.0%, up from 1.8% last month. Core prices should set a 2.3% pace for a second consecutive month. We expect an up-tilt in y/y gains into Q1 of 2020 due to harder comparisons and some lift from tariff increases that should leave gains in the 2.4% area, which may help ease concerns about persistent inflation undershoots of the Fed’s 2% objective.  * Interest Rate decision and conference (USD, GMT 19:00) – The FOMC is widely seen on hold even after the robust payroll data, with no shift in rate policy for the foreseeable future. Indeed, the data validated the pause and left policymakers in a state of Fed Nirvana, at least for now. Fed Chair Powell will reiterate the economy and policy are in a “good place.” There is little risk of any downside “material changes” in the outlook anytime soon given the solid path for jobs growth. And, GDP will likely continue to modestly outpace the official Fed estimates, just as a benign inflation trajectory caps risk of rate hikes from the Fed as well. Hence, the focus will be on the Fed’s quarterly forecast update (SEP) and Chair Powell’s press conference.  Thursday- 12 Decemmber 2019 * Parliamentary Election – Brexit will be a focal point with the December 12 election. While the Conservative party with a working majority is the clear odds-on favourite outcome of the election, the outcome of the general election is by no means a sure-fire certainty, however, especially in light of the predictive failures of pollsters and betting markets at elections in the UK and elsewhere in recent years. * SNB Interest Rate Decision and Conference (EUR, GMT 08:30) – The central bank is widely expected to keep policy settings unchanged as ongoing uncertainty on the global growth outlook, along with weakness in the Eurozone economy, support the view that the central bank’s negative interest rate and the threat of ad hoc currency interventions remain necessary to keep the franc under control, and prevent inflation from falling. The central bank has kept the door to additional measures open as it keeps a close eye on geopolitical trade tensions and Brexit developments. * ECB Interest Rate Decision and Conference (EUR, GMT 12:45 &13;30) – Lagarde’s first press conference. The “risk” is that it will be equally uneventful as her testimony before the European Parliament. It is very likely on Thursday, to be confirmed that: The ECB remains ready to act again and tweak all its measures if necessary, but has already done a lot and now needs to keep an eye on the side effects of the very expansionary monetary policy, while politicians need to do their bit to support the economy.The ECB won’t be reducing the degree of stimulus any time soon and we effectively see the central bank on hold through next year, unless there is a major change in circumstance. Friday – 13 December 2019 * Retail Sales and Industrial Production (USD, GMT 13:30) – A gain is expected up to 0.3% November for both the retail sales headline and the ex-auto figures, following a 0.3% October headline with a 0.2% ex-auto figure. There’s considerable uncertainty, however, given seasonal distortions around the holidays, especially including Black Friday and Cyber Monday swings, and with six fewer shopping days between Thanksgiving and Christmas. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Renko Full Throttle PRO IndicatorUSDCHF 1H Chart: Recorded Success rate is 95% in the last year with  
    • True. I can't say how much money I lost over the years on crappy signal providers. Take as much time as necessary googling on any one before spending your money there.
    • Date : 6th December 2019. Happy Non-Farm Friday – 6th December 2019.Happy Non-Farm Friday – The Dollar majors have remained comfortably within their respective ranges from yesterday, ahead of trade talks, NFP and the OPEC+ decision.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • GBPUSD Eyes Further Upside Pressure On More Bull Pressure   GBPUSD with the pair remaining biased to the upside more strength is expected in the days ahead. Support lies at 1.3100 area with a break below that level turning focus to the 1.3050 level. Further down, support comes in the 1.3000 level where a violation will shift focus to the 1.2950 level. Below here will open the door towards the 1.2900 level. On the upside, resistance is located at the 1.3200 with a break above there allowing for morel strength to build up towards the 1.3250 level. Further out, resistance stands at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD retains its broader upside pressure.    
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.