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I disagree... But you choose to believe what you choose to believe... That what makes the world go around...
Days like today, the probability that the indicators work like they always do are diminished. I will give you an example...
Let's use a real life one... I prepared for a Marathon on an outer island... It is typically 5 degrees cooler on that outer island and I did not think that to be a significant issue... Well, come time to run the Honolulu Marathon, guess who overheated and felt like he was dying..
I didn't know how to behave myself (adapt my behavior) to the differing circumstances. Your indicators will not work the same on days like today. I think if you are using just price then I would agree, but typical indicators will do some funky stuff on days like today and throughout the Holidays...
Of course, that is my own reality. I am most likely wrong..
@bluemele I understand what you saying.
I think there is no "right" or "wrong" when you talk about market. One day it's funky for someone and very clear for another one. Next day it's other way around. It all depends on us only. Like you said it depends how we can adapt to the market conditions. For example funky acting indicators give you information also and your success depends on reading that information. If you choose not to trade according to your experience that's great. Like someone said there is only three positions on the market: "long","short" and "flat". If you are flat there is a reason for that.
I saw this video with very nice on screen setup. I always wanted to do something like that. It would be very nice to have for example 3 TFs in the same window, with the same tool bar.
Does anyone know if someone can get similar setup without programming skills? Maybe someone already uses it and doesn't mind to share.
Couldn't trade open again because of my son. When I opened charts I thought that I'm missing nice short and got in asap. After it took me out I had a better setup. I placed sell order but it moved little bit higher and I canceled it. Then I was looking for something on the web and missed it. That was very nice run. I was waiting for next entry and punching myself for missing it.
First pull back and I'm in but from the second try.
I got little bit greedy I think because I moved my limit order below my first target. I thought it can go to around 705 area but I got scared on that pull back and moved my SL to close at least 3 points. I think it still gonna go lower but I'm done for today.
BTW I had a second chance to close it at my first target but I didn't.
I didn't post a anything yesterday, but I traded pretty much all day in and out.
I've been trying to trade 6E also. I flying back to Russia at Feb 27th and I probably gonna trade during Euro market. I'm not sure what instruments I'm gonna trade but I thought about 6E or CL first.
So yesterday I took only one trade on TF and that was a loss. I took short against strong up trend on the longer term.
I also took two trades on 6E. The first was short and it could turn out as a great trade. It was moving very slow and I closed it for only 2 ticks. Then took another one when I had a chance and that was a nice profit.
Today was a different story. I took quiet a few trades on TF, but had a nice profit at the end. I entered long with one contract(#4) then added another one (#5) and moved my stop to BE+2. It took me out, but I reentered again and held it to the target managing trade according my rules:
On 6E it was much worse. I took more trades didn't take most of them according my rules and in one word it would just terrible. I was just kinda bored and as long as 6E wasn't my primary instrument I was acting stupid. That's pretty bad for learning purposes but what's done is done and I cannot take it back. So here are my trades at 6E:
So over all I'm just $35 green. I'm glad that it's green but I'm not happy with my trading today. For some reason I wasn't patient and I was looking for relationship between TF and 6E. I was taking trades on 6E watching TF and not looking at indis. I guess I'm so used to trading one instrument so I expect another one do the same.
This is it for today. Tomorrow another day. I can't wait till January when everything comes back to normal. Market moves different around this time and it makes me do stupid things. I don't trust myself because I expect market to do something funky.
I am basing this post on some of your words fo your previous post.
I would loathe to give advice (who am I to do that!) so I can reflect on my history. On the one hand, I have no clue what the future will bring, whether the market will behave as I want it to behave or not, so I can't tell whether I will remain profitable, but I know I will not do stupid things. That's all, nothing magical.
It helped me develop patience only because I started will changing habits on a small scale. Small victories COUNT. They change your confidence, confidence is a multiplier! This is huge statement. Do small things right, they become bigger and one day without your noting it, you turn a daily profit into a weekly and then monthly profit.
Do small things right. Learning how to drive is great example, observe the newbie drivers today, watch how they do foolish things today...and you look at them and say..."what an idiot!" We were all that newbie driver idiot at one time, and look at you now....driving is second nature...we don't even think about it..it comes from small changes in habits.
Your words were my words 2years ago, I started changing small things, and that is all I can do each day. I don't go in with a daily profit in mind, I just try to minimize my "stupid" moments. Then when my setup comes along, I have the freshness of mind, positivity of attitude and all my capital intact to take advantage. Now I have only one thought in my mind when I start trading..."I have no clue what the day will, but since I will not do anything stupid, the wilder the day the better chance I have to make a decent go of it"
Thats it, who needs rules after that? It may be that I was lucky for the past 2years, but that attitude change has helped me blow past all reasonable targets in my profitability this year. And you have seen the results on the blog. DO I look a those numbers? sure. Do I think that can be sustained, who knows? How can you tell the market in the future? I can't. I just know I will do the small things better and better each day, and based on the evidence on the past, I put myself in a better and better position all the time.
PS - CL is wild beast, you are going to have a heck of a ride.
That's pretty much what I was thinking. Change things and overcome bad habits by creating better ones.
If that got you in the right direction I hope it's gonna work for me also!!!