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Sounds like you have a real partner in life.
I bet it's not much fun to be CPA or garbage truck driver,,,,,without ups&downs in life,,,,or should I say risk&reward...
I hear what you are saying about the impulse move for fear you are coming late to the party, and that you will miss out on the choicest h'orderves. Instead of picking over the leftovers, hang near the kitchen door, and grab the next batch as they are coming out, hot and fresh. the resoning...there is always another move...2 to3 a day, going back a real long way. If you catch 1, even if its right at the opening, your day is done. A few weeks ago, i never would have believed that it was possible. Now i am a true believer.
5 minute charts on the CL can have a bar 50+ ticks. After staring at the ES for weeks, in terms of 4-6 tick moves, the CL for me was like standing near the concrete wall during the Daytona 500, trying to read the letters on the cars as they were going by. What helped me tremendously was to take a wide angle view. Coach from the sidelines, but strategize from the box above the playing field. I found my anxiety reduced a lot when I started thinking this way.
Your trades were almost Identical to the ones I took. Where you went short, tho, I was long and got stopped by 2 ticks. And i was on board on the same move you were. Love to hear that cash register ring as prices confirms my analysis. Even tho its pretty simple stuff.
Of course, in the world of derivative trading, i am still a rookie compared to many in this forum.
Being self employed is difficult enough, and very near impossible if you dont have the support of your significant other.
i have support from my wife, but she calls deriviative invetment "staring at the pointy graph" all mornimg. She is used to it, as I have been in the investment businmess a long time...this is different, but still investment.
You are fortunate to have support from your family.
i felt the same way about CL the first time I put it on a chart, but I soon learned you can be WRONG and still make money. There was room for error most days to make some money even if you got the macro picture wrong...not so on other instruments....I moved from ES to 6E to CL....it was quite an adjustment. And it seemed like the daily ATR was around double what it is now....I remember 100 tick corrections in a trend.....that barely would pull back to the 23% level....crazy.
If I went back to ES now, I would have to take a prozac to keep me from going crazy. There are days even on CL I feel like price has just stopped moving.
As to your being a rookie, remember that rookie in this business is a designation for those not making money....I seem to remember you posting no losing days this week. Thats not rookie stuff. You've gone from indicator junkie to trading the five min chart with one EMA profitably in less time it takes most of us to figure out this game is not as easy as it looks and to begin our Holy Grail hunt. Time to start trading live if your not already.....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Yes, I have to admit I was a bit of an indicator junkie. I had 2 SMA, 2 EMA, regression channels, some other stuff. Trying to get it all lined up was ridiculous. I figured it out pretty quickly it was usless for me. Notice I dint say useless for everyone, just not for me.
Al Brooks is the man for me. His first book is a snore, I know, and he isnt a dynamic teacher, but, i get him. Thats really it. I get him. I like the simplicity of his approach.
Maybe its time to go live??? Maybe with a little more practice...
On the webinar Wednesday, Multicharts and Mirius Futures, I found out you can trade for a block of accounts, and average the trades over more than 1 account from a single account. Been thinking of how to do that for a couple of weeks. Of course, i never thought to ask my broker...
I think Ninja has the ability to do block trades as well. Very useful if you have multiple accounts or you are trading for friends and family as well. I also know TT has that, CQG and T4 if I remember right. I am sure other platforms do as well but I know TT does....its a little pricey but worth it if you are doing professional level trading.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Just watched FT71's webinar.....excellent presentation. I learned a great deal about the mental side of trading. I highly recommend it to everyone....
I especially liked the fighter pilot analogy about how a fighter pilot doesn't pull up his manuals during a dogfight to figure out what kind of weapon he should use or what maneuver he needs to make. He just makes them.....its like a trader constantly pulling up different charts trying to figure out which time frame or set of indicators to trade....Just be an expert in your time frame and make decisions based on experience and probabilities.
Secondly, even though you have a high over all winning percentage, the NEXT trade is 50/50. Accept it and move on. Control risk with size....and if you can only trade one lot and the risk is to big, don't trade. Its that easy.
Third, think about what has happened, what is happening and what MIGHT happen. Plan for it.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Great observation. FT71 is very good, and I concur that his mental preperation was helpful to me as well. His website is excellent , and has some terrific free webinars where he speaks about how he prpares for a trading day, as well as intervention of traders who need help.
If you thought his webinar was helpful, his website is that and more.
My wife and kid are out having a mother daughter day which leave me by myself to do stuff I really like to do....Today it was to watch a couple of the webinars on futures.io (formerly BMT) that I missed. I finished FT71 as I mentioned....then I decided to do Al Brook's first one back in 2010. The material is very good....but I fell asleep during it.....he speaks the same way he writes....I just couldn't hang with it.....dang it...I wish he had a motivational speakers presentation style so I could stay awake. I think there are diamonds to be discovered in his stuff.
I think I will try it again next weekend....but I'll do his first so I have some energy left to give it.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris