Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Yes, weekly IB, but I do not use those lines for anything, that was a chart template from @Private Banker. That is up just for reference to weekly vwap. It was just accident that I saw that structure, and the trade gave up at the 3rd top. The pattern may still hold weight on Monday though.
I did a test, where I traded as I envisioned my mentor traded, since the beginning of this year. I used one account, and it kicked my ass. The rationing I have mentioned, and was not comfortable going into more detail than that... that is the executive summary.
I just let him know the same thing.
But, the strange part to me, is that I really do not care. Not that I do not realize money is necessary, but that I also realize it is still abundantly available. And, that in the process of really not caring it has caused me to live differently, and in that new center of gravity in life, I am seeing the markets differently.
When my "job" is to go out and take a few dollars out of the market, if that was the equivalent of chasing crumbs, I can do that for days and days. But what I see is some trade I exit right, and others I do not. And in that "do not", there is this craving that builds. That is good tenacity, bad thinking.
My new trade box is running smooth, I spent at least 12 hours again in the build, updating, driver loading, software installation, historical data downloading, settings configuration...
.... in a non-descript corporate office where the whiners gather for gossip and grumbling?
Such a place has no existence in Gary's setup; he has found himself, found what he loves to do and knows what he is good at. And he is cultivating his strengths, from a place of peace.
Metaphors apart, he has cabled it neatly, I must say!
This year I have been following a trader that is way out of my league, and who approaches the market differently than I ever have. The result is that I am now trying to ride two (or more) completely different timeframes, entering at the exhaustion of the higher with the expectancy of the lower, and many times I am a day, session, or hour early. That is not how it was explained to me, but that is how my mind is interpreting it as of now.
The bottom line results so far are that in forex markets my win % continues to rise. In futures markets it continues to fall. This has been my worst performance in a YTD in CL trading since my first year. Meanwhile, I barely ever lose in markets that i do not have a clue in. It has something to do with the hourglass meets the scalpel. Getting the right hold time merged with the right level of precision. I am tempted to go back and forget a lot of new information, but instead I just keep working through it as detached as I can be, focusing on just digesting the results and learning from them.
One thing I know, is that in forex trading, I truly have zero concern about the money. Most of the time I trade the smallest entry increment available. I was in 3 scales last night and netted around $3, which was a great night. I play it more like a game. And another thing I know, is that my motivation to do the same in CL is related to money, and somehow that is enough to reverse the outcome.
On the bright side, I have seen this before and prepared myself this year. And, regardless of any trade results, I am happier and more energetic than I have been in several years, my relationship with friends and family is far better, I have several new outside interests and hobbies, I talk with my wife and friends with incredible honesty about my trading.
I really am not upset with myself about anything trade related. I just keep pushing along, this time not feeling because i need to, but because I enjoy it. It is just becoming a way of life.
I explained, in as few words as possible, for me, where my head was this year. "Know your domain", was the reply I got. I said, "I was too quick to want to move into yours!". LOL
But, I understand, and I had tossed away mine in pursuit of a deeper knowing. And then brought it back, only to be looking at way too many "trends" to do any good.
......................................................................................
This was something I have been meaning to post for awhile, a quote from @BTR411
"I found that a lot of stuff back then I continued to do simply b/c it was sort of "grandfathered in".....well I have always looked at weekly charts, so I will continue to do so type of mindset. The Truth I realized was that many of these things were not only not helping my trading, but if anything, they were hurting it at times. Pure reason and logic alone dictated that for my type of trading a good portion of what I was doing was unnecessary and/or counterproductive....."
He hit me square in the weak spot, whether realizing it at the time or not. I know I did not immediately realize it.
I also color-coordinated it with my room, but my wife said that just sounds gay and advises not to post here. I did not do it intentionally, I just realized it after I was done. My charts are in the exact same color scheme. It must just be where my focus is right now; settling into my domain. I have not been "settled" for , well, maybe never.