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)
1252:56, Long 1, +1T
Chickened out again! Fear of losing. Note that, if I had left the ATM alone (20T target, 9T stop) the trade would have resulted in a 9T loss.
Net for the week: $211
Can you help answer these questions from other members on NexusFi?
1304:41, Short 1, +6T. Tightened up the target - chicken exit. Could've had +20 if I had not tighted either tgt or s/l. But I also tightened the s/l to BE. PA retraced to BE so I would have been stopped out at 0.
1327:03 3 trades, short1, short 1, short1 all -9T fighting the trend - got emotional
no structure for an edge, no s/l
The pace was very fast, too fast for me to trade. So my entries were late and I should could have exited sooner if I wasn't so rushed. A learning experience.
1329:56 short1 +26T, finally a winner. Note, after a significant pullback price did go even lower.
0951:10 went Long 7 contracts. BIG ERROR. Accidentally pressed, and held, the long entry button. Luckily I was able to get out quickly at a profit, +11T. Could have been a disaster.
Then I made a normal trade
0954:20, Short 1, +5T. Got squeemish. Turned out to be a good call.
Hey, I'm a scalper.
1145:58, Short 1, +1T. Location poor. Structure good. Against the trend. Trying to pick a top.
As you can see, there were a bunch of white down arrows indicating the ASKs were preventing the market buyers from pushing PA up. Then a big down candle came along and that's when I entered. I suffered through a couple whipsaws, but when that 2nd swing low was in I figured I should get out.
Note: the first 2 weeks were simulation so they are not included here. Live trading started 2016.01.19.
Total trades: 20. Percent profitable: 80. Mean gain per trade 15.27 after commission (2 ticks before comm.) Profit factor only 0.45. As can be seen from the comments, I have a problem chickening out. Much work to do; but at least I am profitable.
Terrible day. Had a moment of serious loss of discipline and I paid dearly for it. I hope I will learn from it.
0903:26 Long 1, 1tick. Chicken exit Trading from fear.
1105:12, short 1, 1T another chicken exit.
1317:56 , 6 trades, -58 ticks. Disaster. Used the Reverse button and chopped my way to major loss. Should have taken one or two losses and then get out. RULES! DISCIPLINE!
1328:26, 2 trades, +10 ticks - Recovered a little bit.
Not as bad as yesterday, but not good.
First trade, went to to -9, the normal s/l, almost emmediately (MFE = 1).
Second trade allowed a +7 MFE to go to 0.
Third trade chickened out, but at least I made +4T.
The last 2 minutes of the "Pit Session" (which doesn't really exist anymore) saw a huge, almost continuous, rise in Cumulative Delta (CD) while price barely moves. I think this is one group of big players selling with limit orders to another group buying with market orders.
Who are they and why do they do it?