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)
michalmalec... tick charts are started using trades that make up the first tick bar that you see on a chart. When you reload, depending on the software you use, the starting tick bar can use different trades and make all the tick bars after the initial bar look somewhat different.
One thing I'd like to say is, yes this is a learning experience (talking about the huge loser I allowed yesterday), but at the same time, it's not like I'm a new trader and learn a lesson from doing this like... "Oh, what a great lesson, I won't do that again." The problem is that I'm not a new trader... I've done this a dozen or more times before, and "learned" this lesson many painful times before...but haven't done it in years. This, for me, is not a "lesson learned". For this to creep back into my trading is not comforting.
Also, it's not about the money lost. $2,600 is a drop in the bucket for my profits since Feb.
IT'S THE PRINCIPLE OF SUCH A MAJOR BASIC TRADING RULE VIOLATION that has me upset.
Hi, thanks for answer, i can try zenfire/mirus demo to check zenfire data feed and compare them.
One more thing:
Did your read : Enhancing trader performance, proven strategies from the cutting edge of trading psychology from Brett Steenbarger
I know you are very experienced trader, that book is a little bit about how to become a professional trader, but mentally.
I am sure you know that book.
Thanks for the kind words, but at the moment I feel like I need to read "Idiots guide to daytrading", ... ah I'm just Ill at the moment. No I haven't heard of that book, I'll definitely look into it. Thank you.
Was the rule violation not using a stop or moving the stop away from the target when trade went bad? I take it you moved your stop since it looks like you use OCO orders.
Thanks for your transparency. Takes guts to own up to trading mistakes....
I had a proper stop in place, and just canceled the order. I just watched the market go and go, cursing the whole time, "knowing" that it would turn around at any moment.
No you don't need to read any idiots guide to daytrading, you are good, only one mistake upset you, dont feel frustrated.
Actually, i think BigMike can recommend him, Steenbarger is psychologist, psychiatrist, as we look at the charts, price action or orderflow and look for the patterns, he looks for the behavioral patterns and try to solve them. Everyone have some behavioral patterns.
He is a trader too, and he helps professional traders to overcome their problems in trading.
Check this video to see what is he like:
skip first 2 minutes,
youtube.com/watch?v=jKF3G3RYxXE&feature=plcp
his old web
brettsteenbarger.com/articles.htm
and a blog
traderfeed.blogspot.co.uk/
I think he wrote 3 books, wiley published them, i have a another one which is called "Your daily Trading coach" too, I liked both of them and often read them again and again, i like psychology.
Flat on the day today pretty much. I worked my way back making some good trades (only trading 1 contract), and then had a 37 tick loser to end the day and wipe out all profits.
I appreciate your candor and analysis in the videos. Wont offer any sage advice, but will say it happens/has happened to all of us. Great spot here to learn and move on.