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)
another example of larger pull backs that look like they are counter trend.....I don't see this often in real time although I am trying to get better at it.....today was a near perfect day of these kinds of trades...
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Having trouble reading the curve lately, which is causing me to have diminished confidence in my trades once I'm in them. Second guessing myself and getting out or going to BE to soon.
A narrow day to be sure, opportunity missed and I'm stopped out for the day. Still below my DLL but still, I just don't have it today.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Monday was a bit tough, couple of opportunities, but you had to be VERY patient, especially with the narrow early range. Hopefully we get some good moves today (Tuesday).
So far today, I have passed on a nice short trade and taken what i believe is a very valid counter trend trade. The short I passed on because I said "I wont trade until the range opens up a bit....never mind I had a target picked out long before I took the trade....92.97, the halfway point of yesterdays opening range....60 ticks away. But I passed.
Sitting there watching it go toward the target, taking the counter trend trade and then getting a BE on it (rightly so I might add) was one of the most painful things I've done in a while. The last month I've struggled with mental issues.
I know right when it started as well....three days in a row I was faked out by a bull flag I thought was a trend reversal but instead was just a flag. I got stopped all three days on that trade, and missed the break of the flag to the long side. This caused me to start wondering what I was missing that was so obvious in hindsight.
Now, I find myself questioning everything. @indextrader7 skyped me yesterday to tell me I was spot on with my trades. That made me feel better but confidence has deteriorated for sure.
I want to get back to having a winning attitude and I have proposed taking a series of 10 ticks winners to just get that winning feeling back. However, from a trading standpoint, that doesn't make much sense. I should just take the trades I instinctively know I should take and let them play out. The counter trend trade I took today was one of those and I feel really good about it. It was executed perfectly. Both the entry and the exit. And yet overall, I still feel like crap.
As I type this, the range is still less than 1.00 and I had an opportunity to capture 60% of this....this makes me feel worse than a losing trade...missed opportunity because I was afraid. Missed opportunity because I didn't see it is one thing, missed because I was afraid is an entirely different matter.....
How it looked this morning....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
three more trades...honestly, just trying to not lose the will to trade while at the same time, trying to stay within guidelines and risk parameters.
-15 on the day. Not terrible but not great either. Should have been one and done today. AND I should have captured the long off the bottom but was licking my self inflicted emotional wounds.
Short Trades:
1. Was a mistake. A blind sell at the level. Right idea, wrong timing
2. 70% pull back, good execution, so so management.
3. Didnt wait for the trend line touch. Just closed it out.
Left to take my kid to school as i was done for the day mentally. The long that happened was a classic break out pull back that is working like a charm.....arg.....
I am going back on sim for the remainder of the week. Try to recapture the winning feeling. I also think I will start a combine on Monday IF I feel like I'm winning again.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
I got that book - a great read and full of interesting stuff, but the portfolio theory stuff has been totally debunked now because of the fat tails in the distributions of trading returns. Although you probably realise that already. Or weren't interested at that point in the book.
You can discover what your enemy fears most by observing the means he uses to frighten you.
For me this is not a good idea.
Instead take some free time for yourself. No charts, no forum etc.
Give your brain a break. Will be back fresh and ready for trading.