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I am sure that accurately represented how I was trading 3 years ago. But since that point, I've grown a lot as a trader. Majority of people on nexusfi.com (formerly BMT) are scalpers. I am not any longer, and very happy that is the case.
These changes happened gradually over the last 3 years, slowly going to bigger and bigger time frames, and then last year finally learning profile and using that to replace any other lines on my chart.
I have no small charts on my screens any longer, and I do not scalp. My smallest chart is 100k vol on ES which is roughly equal to 45m chart. I have nothing in my price panel except for swing high/low markers or trend lines which I draw. There are no moving averages, no bands, no other s/r lines.
I use three charts: 100k vol, 500k vol, daily. These are my primary charts. I will look at the weekly and monthly chart as well, but only every couple weeks or so. On these three charts, two of them are identical: panel 1 = zigzag + trend lines, panel 2 = rsi. On the third chart, the daily, it is TPO and Volume Profile. This creates three levels per day, a VAH, VAL and POC. Those lines are extended forward as naked lines until price trades through them.
I use RSI for divergence. I use profile for levels. I trade with an average of 2x reward to risk, and I am to be right half the time.
1) "an average of 2x" leaves room for some trades to be taken off at less than that. Do you have a minimum, or is it a loose rule and dependent on structure? Today, do you ever go in for less than 1:1 on any targets?
2) Do you still go in with 3 or more and peel off at various levels?
3) Do your charts now offer more than a trade per day?
I am exporting my trades for the past month (tonight) and separating into ranges of profits and losses, to see win % in various tick distance areas, percentage trades taken in those ranges, etc. Just thinking.
Thanks man, thought you were getting away from this for the weekend?
Should have said "aim to be right half the time", not "am to be right half the time".
1) Some are less than 2x, some are more than 2x. I usually have three targets, first one is 1x, second 2x, third 3x. I usually give market a wide berth but will take a trade off early if I think I am going the wrong direction.
2) Yes, firmly believe in scaling out. And scaling in. I don't think I can predict a perfect entry, so I do not even try. Toe in water, then add more after I see the temp.
3) Usually 1-2 trades a day is it for me. Past several weeks it was far less than that.
I am making final arrangements to rescue my third lab this weekend. It has been a busy weekend with meet-n-greets and home visits. I have the final meeting in a few hours, and with luck, will be chosen to be his family by the foster today or tomorrow. The organization is very thorough, and that is one reason I like them and support them so much: Dallas / Fort Worth Labrador Retriever Rescue Club
You and your wife are more then welcome to come and chill at the resort for the day, we can just chill by the pool and crack some beers open
Deffo interested in poping over yours one day in the week to see you beautiful looking house
Keep in touch and let me know your schedual from the 8th to the 15th
@researcher247....why did you have to bugger off to Hong Kong, we could of had a party! booooo
regards
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
The house was once beautiful... but you will see when you come, it is now just a place I am waiting to move out of. A memory of days when money meant something different to me. I just came in from mowing the sand volleyball court...
I was thinking after we spoke, it would be great to have you as a guest trader for a day. As the host, I think it should be proper etiquette that I allow you to take a trade from my desk, possibly even in my account? We can sort out any difference at dinner or by the pool.
You will be the first futures.io (formerly BMT) member I meet in person, and I am excited about it. Hopefully Hedvig will be next.
I exported all trades from August 1 through August 31, then sorted them into columns by winners versus losers, then divided them into groups by tick value.
At the bottom, I discovered that in August, scalps were a valid contribution.
Not a very good commission factor this month, and I already knew that. Not really the purpose. I continued to experiment with varying contract size, up and down, trying to "feel the weight" is the best description I have come up with. When I feel ok, I sit there, when I feel uncomfortable, I scale out or just drop it and start over. So what if my broker enjoys my madness. It is my account, and this is something I am trying to work my way through.
The goal for September, is to concentrate on feeling comfortable, and see if the columns change on their own.
What I "THINK" I would prefer, is to see the columns to the right fill up more, and the ones on the left to be reduced by number. But I believe I need to "FEEL" that way for it to work for me.
The exercise of analyzing it, spending a few hours on spreadsheets, comes from a different part of my brain, and I believe I need that part. In fact, that is a dominant tendency in how my mind works, that I have that I have learned needs to be tempered. By spending the time satisfying that part of myself, it is then free to sink in and eventually provides direction for what I am feeling. I think that is what happens, anyway.
But for some reason, if I do not balance logic and analysis with feelings and emotions, I do not come out ahead.
I can't force myself to feel comfortable, I have tried. And without feeling comfortable, I am either too emotional, or too robotic. Somewhere in the middle is this zone where I know I will come out ahead.
So Gary, when you say "tick range" of 10 to 100, you mean a dollar profit of 10 to 100, whether that's trading 1 contract or several? Just making sure I understand your chart.