[MCM]

Tams...couldnt be more right. Sometimes I let the internal bear in me (love being short more than being long) move me into taking some counter-trend trade.

The one set up I had for long (that I missed - see above) just hit its first target.
Probably no coincidence that it was in the direction of the trend.

[JKLM]

last few days I feel bad ...
but I trying to stay on right tracks ...

[edabreu]

Good start to the week. Would have preferred the breakout at 09:41... but I'll take this and be happy.

[edabreu]

Originally Posted by Tams »

The Trend is Your Friend.

I used to think that. But now I know its my fair weather friend and a fickle one at that.

[brownsfan019]

Originally Posted by MCM »

(By the way - Nice trades earlier Brownsfan !! Love how you are packed up and done in a couple hours!)

Just wanted to comment on that MCM - after many years and thousands of dollars, I've come to realize a few things:

1) I am not good a trading all day
2) My system is also not good trading all day
3) Trading for me is a means to an end, so I don't need to be there from 8am-4pm EST

Took me a long time to get there, but now I can go in hard in the AM (when a lot of moves occur), get out and move on w/ my day. Based on this idea, I'd much rather go in hard (ie use leverage) on 1 or 2 quality setups per market than trade all day but using less leverage. If the markets moved all day like they do in the AM, I might trade all day again. But they don't. In my eyes, the markets have 3 cycles in them each day - meaning:

CYCLE 1: AM session (8am-Noon) = moves will more than likely occur whether from overnight orders hitting the books, overnight news forcing the hands and/or econ news ranging from 8am-1000am. In other words, PLENTY of reason for the markets to move in cycle 1.

CYCLE 2: Lunch session (Noon-2pm) = many choppy areas, but could also provide the occasional move. In other words, it might move or might chop.

CYCLE 3: PM session (2pm-4pm) = similar movements as lunch, meaning chop is very common, but also can see some monster moves as well. In other words, you might catch some giant moves or you might get chopped.

So looking at that analysis, I said - why bother trading cycles 2 or 3? What's the point? If I know moves will almost always occur in cycle 1, maybe I should just focus on cycle 1.

And that's where I am today. I should expand on this more some time when time permits.

[pimind]

Clicking my mouse in the hot sun

I fought the trend and the trend won
I fought the trend and the trend won

I needed money cause I lost some

I fought the trend and the trend won
I fought the trend and the trend won

I lost my money and it feels so bad
Guess my trading is done
It was the worst run I ever had

I fought the trend and the trend won
I fought the trend and the trend won

**** I'm down 896 on 20 trades, was down $1200. Made stupid countertrend trades all day and just happened to pick the ones with no meat. Gap didn't fill , no big sell off after the close, should have jumped on the trend when it was obvius this morning, but shoulda coulda doesn't pay the bills, these are my worse days. I always think How much higher can it go,
I no the answer as high as it wants. The funny thing is taking a pullback is less risky then countertrending, so yes today i fought the trend and trend won. I am now 100% wrong when i fight the trend. lol.

[MCM]

Two left feet today during the dance. Someone remind me why hindsight is 20/20 and foresight can be blindingly impossible some days.

Walked in with the wrong thoughts - and didnt respond to the first 30 minute push which should have suggested a strong trending day to me. And I just kept pushing against it.

In the spirit of finding the good for the day
1) Didnt let any of the losses run past their original stops
2) Didnt chase any entry late in the day - which (in hindsight) would have made money - but for all the wrong reasons. Hope that pays dividends somewhere down the line.


Reset for Thursday - my next trading day due to other committments.

Thanks for the wisdom Brownsfan019. Since I am still < 6 months into this - still OK with spending some time watching the market. But certainly appreciate there are some times to stay out of the chop. But eventually would like to move towards your methods of finding the first quality moves - trading them - and being done

P

[HAL9000]

Originally Posted by pimind »

I fought the trend and the trend won
I fought the trend and the trend won

I think there was an old Clash song:

I fought the law and the law won.
...

I have done my sim trades today after implementing the last days
and even up until the RTH started. Well the beginning was OK,
but then I said to myself, that now would be time to quit.
Anyway, I traded on and felt in this counter trend mode too, and even more worse, I toggled short, long, short, long.
In real I would have ended with a big loss, based on many "small losers".

I guess it is partly a mental thing: Impatience, greed, and fear.
Once I recognize my mistake. Then it will be different.

I think, I am my worst enemy.
Maybe, I have just to find my peace.

Relax, open my eyes, open my mind.
The pictures are there, which are showing

the law of the market.

Up and down and up and ...

Just wait until it fits.

It might be so easy.