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@ratfink: Thank you very much for these great insights.
I really know what you're talking about since I made the same experience MANY times...
And I think we all go / have gone through this, and even in that particular moment when we believe we've come over that issue the same s**t happens again...
IMO real progress is defined by the decreasing number of these (fairly inevitable) Events as we're all only human (are any HFT's around here ? )...and after experiencing that event several times I decided (against any good advise I received) to establish a daily profit goal, which has helped me a lot to overcome this issue so far.
@GFIs1: Since I still got a regular daytime job, I have to be one of the poor retailers trading the noisy afternoon sessions...
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Finished blubbering now, back to business. Really appreciate the support from all who come in here, thank you.
ES has blown out of targets as expected, trend still up for now as per Gann expectations, Euro hit its weekly resistance and has lost a short term extension, will look later or at the w/e to see where we are. Will see if Dax puts in the terminal wedge or really starts to lift out.
Have taken Dow out of the Sprint account, trying to trade 3 sessions is just plain dumb.
Remembered now that the first 4 dumb f*ck trades were fat fingers as it uses a different default expiry time, this is bad of the platform but dumb blindness so my fault, accepted now, moving on.
I felt the head fire, I know its mine, I must catch it and walk away faster. Pegged the washing out in the sun this morning, listened to the birds, said thanks for being alive. Tomorrow should be there but today should be taken.
Have used the futures.io (formerly BMT) Options panel to cut down all unnecessary posts (e,g news, other platforms, weird markets.)
Have gas engineers in (again) this afternoon, will be on remote access but likely not trading until post Fed.
Plan is made for next year now, get myself sorted out, discretionary trade only the Dax, start to build the strategy box for ES/Dow/Euro on the back of a distributed network export of my current system properties. Oh, and try and act like a trader, using the main account with a decent R/R.
Good stuff Ratfink. Rooting for you. When you have some time would you elaborate more on your binary options trading and show some screenshots?
Thanks
Alex
Sure, for the ultra short term stuff my two main charts are a momentum range chart, 89 ema/sma, the rest are own built indys:
And an s/t fdax chart, own indys apart from Harry's anaSuperTrendM11, I only added that a couple of days ago - but if you ask me it's bloody useless if you ignore it.
And for the trading interface I just triggered a random minimum stake trade for you, the upper panel shows how simple the controls are for their current quote, the lower panel graphics display current profit/loss situations for 1 or multiple concurrent trades, any direction. No interference with trades possible once they are running, entry is always at their quoted strike (current market + small spread), exit is based on exact market price. Time expiries vary across different instruments from 1, 2, 5, 20 minutes, Dax starts at 2, Dow and Euro at 1, crazy I know.
I used to trade the older style 5 minute binary options, in fact I built a custom Ninja panel for it but they are a real b*gger with fixed time intervals and wide ranging, fast moving spreads. Even so I did manage +400% in 30 trades in one month - but then fat fingered it away in 3 days - so we stopped that particular game ...
I enjoy the fast short term stuff and probably will continue to do it but more frustratingly my medium term analysis has been bang on for months now and I don't make nearly enough use of it, let alone trade it. Next year, next year, we will see.
I played a bit with binaries a year ago, ones from GFT. But those differ in a way you can sell your stake before the expiration, albeit at big discount. It might be a better way to trade fast stuff as you don't suffer from fake outs, stop runs, springs.