[Mr_black]

Nice day.................

[HAL9000]

Concentration is gone, and I stopped trading after that.

During the last days I have implemented a little bit more within my software.
So my trades have been more experimental and because of this, I haven't posted them. Yesterday was bad with other charts (indicators).

So I decided to go on were I have stopped trading, and reduced myself from 4 down to 2 charts, with my currently favored indicators.

After this break, I have to admit, that I still don't use them properly,
or in other words, I still too often break my own rules, so I am not happy with today, but I can focus on this problem from now on.

I have just to do, what my charts are telling me. Period




BTW, I have attached my two charts too.
I will not make a secret out of the indicators I am using,
both tools (algorithms) are here from TL.
I just try to use them in my own way.
I use them as my tools, but I don't use the original systems/setups, that were build around them.

But both systems are worth to be studied in detail.
(And I guess they work better than mine so far!)

Just that you know.

And last but not least, I have to tell all the people, that were part in the
development of these tools: THANK YOU!

[brownsfan019]

Originally Posted by wskid »

Brownsfan I have a question for you. What is the basis of your decision making process on trading the bonds(literature, fundamentals, indicators etc...) I would really like to know because as of yet i m still just scalping and would like to know what to read to get better.

I am a 100% technical trader. I also moderate the candlestick corner. You can probably make an educated guess from there as to what I use.

From there I am looking for good risk/reward spots to enter a trade.

And further - I am looking to catch a move in the AM on bonds and then shut it down for the day. I know there's usually at least 1 nice move in bonds each day and I am looking to participate in that. From there, I just adjust my size as the accounts grow to make more money.

At one point I tried my best to trade all day, but only a small lot of contracts. All that did was rack up commissions and was also incredibly difficult for me. But I had to go thru that process to get here. Now, I try to pinpoint a good entry area, enter w/ as many contracts as I am comfortable with and then look to ride the move. Sounds simple, but took me quite awhile to get here and then accept that I'm looking for that 1 move and then shut the charts off. I'll be honest, it's weird at times to be done 'working' at 9 or 930am EST. It's an odd feeling when you've been taught your entire life that hard work + long hours = success in the business world; whereas now the equation for me is = pinpoint an ideal entry + ride the move = usually done trading no later than Noon (and many days by 10am).

But years and years of screentime has gotten me here. I first had to see that trading all day was not for me. I then had to see that instead of trying to trade many times w/ smaller contract sizes, I was better off loading up on 1 reliable setup. I also then noticed in bonds that there's usually 1 really good move that occurs before Noon EST, so if I could get in on that move & load up on the contracts, that's all I needed to make a good living.

If I only knew then what I know now, I could have saved myself thousands of dollars, many sleepless nights and many, many hours.

[wskid]

Thanks again for the reply, I know what you mean by trading all day and paying commisions. I am certainly not at the point where I can pint point amazing setups, so for now I just scalp everything is sight. When I do catch a move, I keep it for 5-10 ticks max, mostly I look for squeezing ppl long or short and scalp the trade. Hopefully one day I'll be able to really notice a setup. One of the main reasons I'm a trader is that I want the extra time for myself to do other things (even though I love trading).

I'll check out the candlestick corner and see what it has to offer. BTW today I had my best day ever live, I don't know why but I'm done trading for the day. here's what it looks like.

[daedalus]

HAL9000 - It kind of looks like an off shoot of walters work? Looks nice and simple to me and those are typically the best kind! Your results are consistently good so just keep it up.

I'm just curious (if it is an offshoot of walters) what timeframes your trading? Looks like a 300 tick chart? I don't want to hyper scalp like walter on a 50t or less. Also, are you using his MA settings?

[edabreu]

I set it and left it. Traded the usual short term during the session and bought my stop... just in case.

[JKLM]

I wait last for move cos I know it will happen ...and than I missed it

cya next week

[Mr_black]

Nice week ............