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made several of the more typical indicators look similar so the results could be compared ..
one of the first stops on my journey was an indicator found on the ecosystem .. DrawRegionwithMultipleMovingAverage .. it allowed me to compare several formulas for moving averages till I found one that made sense to me .. my moving average indicator uses HMA(21) and compares the Open and Close .. keep in mind, my charts are RENKO charts so this may not be as accurate on time-based charts .. from there I colored my lines by direction .. colored my regions .. added Buy/Sell signals and alerts for these Buy/Sell signals
out of curiosity, I modified the code to be more like a MACD and added a signal line ..
the QQE indicator touts a double-smoothed RSI .. so I removed the fast & slow trend lines and changed the appearance .. a QQE indicator by can be found here .. https://nexusfi.com/local_links.php?linkid=2174
the OBV indicator was modified with a smoothing moving average and renamed the OBMV .. my version of the OBVM has a second smoothing line and the two smoothing lines are compared .. with a signal line added .. what you might call an OBVM-convergence/divergence indicator
all of these indicators were made to look similar .. the trade setups are similar .. some get to the party early and some get to the party late .. which may result in trades being stopped out or not reaching profit target ..
have other indicators too .. but these certainly confirm that reliance on indicators probably isn't the most profitable / successful strategy ..
MES 06-23 (8 BetterRenko) 2023_05_04 (5_38_16 PM)
.. you don't have to be the first one at the party .. just be part of the party ..
Yeah don't do what I did. Some how, I went ape shit and started scaling up big. At one point, my account was sitting pretty at 3k+, I caught the trend and kept adding sizing on re-entry. I was greedy, eventually I felt the trend had died. I kept forcing my shorts trades, and of course instead of accepting the loser I traded more and added more size to make up. What an idiot. Am I just gambling....
Those PA got hit with the "admin only", hit the $2.1k. Why didn't I just stop, I had a few windfall trades that went my way on a trend day. Ughhhhhh
Yeah, I don't know anymore....
Hopefully, everyone did better and got theirs this week!
Well, I didn't learn my lesson yet. A very expensive lesson that keep occurring. I let the outcome, my ego dictate how I trade. I eventually crumble and break my rules trying to earn it all back by sizing up. I also notice I force bad trades when I'm in the red.
I'm going to trade sim for a few days and let myself recalibrate. The idea is to get use to following my rules, not letting my own expectation dictate how I trade.
if you watch the APEX's (Darrel's) promotional video for mastering your mind he talks about having a friend or family member that can go on this journey with you .. at least hold you accountable .. yes, he is really promoting his educational video .. but do you have such a person??
I trade 1 contract .. looking for a few ticks on CL and/or ES .. was up $200 today .. shut my computer down .. got bored and turned my computer back on a couple of hours later .. made a couple of winners but then had a losing trade of $390 (about 2XATR) .. but went from having $200 profit day to a $100 losing day.. just because I got bored and did not follow my rules ..
.. you don't have to be the first one at the party .. just be part of the party ..
I have friends that I talk to, but it all comes down to me and my lack of self control. I'm too impulsive at times when I trade. I like to fall back on sizing up to make up for losses. This works out from time to time, but when it doesn't I blow up my eval or pa. I just need to tighten it up, I'm rushing too much. I'm chasing that dollar when I should be focus on controlling my losses. I know what I need to do, but I can't seem to be discipline enough to not blow up.
I like your chart! Yeah it does suck when you come back, I blew up my PA because I wanted more. I need to work on building it up, I was never the kid that could wait for that extra marshmallow. I would of eaten it right there instead of waiting an extra 5-10mins for two......
I was up $76, but decided to come back, trades went sideways .... got into one good trade but it didn't hit t/p. It went all the way back down to S/L at B/E. It was a 1:3 (10 tick s/l : 30 tick t/p).... thinking back 2x ATR(9) was around 13. I should of been happy with 22 ticks. A lot of small chop here and there, losses added up. The only good thing out of today was 1) I stuck to my daily loss limit 2) I didn't increase my lot size, stuck to 4 /mes. I learned a bit more about myself and hopefully I can trade better on days like these. I think next time, if I lose all my gains for the day. I should call it a day, no need to dip into yesterdays gains.