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First person I ever heard who said that Sierra Chart is "super user friendly."
I will say that you qualified this with "after the initial hurdle". A lot of people never seem to make that hurdle, or it's what they most remember about it.
I am saying this as a long-term Sierra Chart user who loves it, and who loves its incredible richness... once I got over the (many) initial hurdles. It's friendly to me now, but that's because I went through the hurdle-jumping process.
But it's very solid and does a lot, and very quickly -- and if you like it, you will really like it. I hope it does what you want it to.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,777 since Nov 2014
Thanks Given: 3,565
Thanks Received: 3,165
That's very true. I tried their free trial atleast 3 times over the last 5 years. Honestly, I felt very overwhelmed.
Trying Tradingview recently really helped me to understand that my charting needs are 'really really' simple. I will probably NOT use 99% of Sierra's features but that's ok. Just by scratching the surface, I was able to get what I want. I'm truly astonished with the customization options. Very stable platform too. Highly recommended, especially for traders on budget.
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,777 since Nov 2014
Thanks Given: 3,565
Thanks Received: 3,165
I'm posting yesterday's performance mainly to remind myself and affirm that I have MOST of the skills I need to be a successful trader. I just need to be mindful of that and then aim to maximise my profit by adding the last few missing pieces.
Though my small position sizing is still an issue, I assume it will grow as my confidence grows. Hence I'm not too concerned yet.
Trade 1
Though my stats were bullish, big gap down open means EMA crossover system is bearish. When there is a conflict, I shoud wait. So I did. For a full 30 minutes. (I can be patient)
EMA system was still short and the expected rush of buyers didn't happen. Hence, I went short @ 4196, against historical stats as today is different. ( I can be flexible in my bias based on market generated info)
I had a clear downside target of 4176 based on ATR and support level. Easily hit with 20+ points gain. (I can be disciplined)
Trade 2.
I switched my bias to bullish once EMA crossover signal generated and went long @77. (I'm not married to my bias)
When we made a new low of the day, I bailed out @ 75 for 2 pts loss. (I'm comfortable taking small losses)
Trade 3.
When we made a new swing high, my bullish bias returned. However, I didn't chase the price and left a limit buy order @ 77 again. (I'm not gun shy after a failed trade)
I had a clear target of 92 @ resistance, which was easily hit with a quick 15+ points. Though it's somewhat conservative, seemed appropriate as it's counter-trend rally. (My targets are logical and not based on fixed R value
Though price reached my anticipated 4200, a magnetic target, I don't have regrets for being conservative. However, I aim to use this lesson to increase the size and scale out. (I'm learning from my mistakes)
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,777 since Nov 2014
Thanks Given: 3,565
Thanks Received: 3,165
My dilemma between MES and SPY has been going on for a while but SPY is clearly a more laid back way of trading (with equally good or better results).
Monday is a good example.
I started with bearish bias. Mechanical short 1/2 size @ open and then planned scale above Y-H (data based - 70% probability).
1/2 Scale out was ATR based (35 points) and previous support. Rest is closed @ End of the day.
As soon as I eliminate the need to get in @ the best location, stress level goes down significantly. End of Day exit enables the possibility of having a winner.
Perfect. SPY trading only in June. I hope to have more days like Monday.
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,777 since Nov 2014
Thanks Given: 3,565
Thanks Received: 3,165
One of the best days of my trading today, in terms of execution.
My stats were quite bullish today. However, there is also a higher chance of Y-L being tested.
Hence, I decided to play the short side first. After the opening chop, I went short @ 74 and exited @ 66 for +8 points.
Then, I waited for the EMA signal to flash bullish first (EMA 5 crossing 12) and then bought 72. Added more @ 78 on seeing strength (an elusive habit so far).
Scaled out @ 88 and final exit @ 89. (Showed lot of patience and wasn't easy)
+35 points on a slow and sluggish day is something I'm quite proud of.
P.S. Though my original target 93 was eventually reached, I decided to take a lower profit based on low RV, low VIX and EMA exit signal and hence no regrets.
Trading: Oh what a tangled web I weave, When I want to take profits in trading
Frequency: Several times daily
Duration: Years
Posts: 1,777 since Nov 2014
Thanks Given: 3,565
Thanks Received: 3,165
Pre-emptive positioning is definitely NOT my strength.
This chart clearly shows that my 1st short entry was very, very early to the party. Once the signal was triggered, then I had a vantage location of 4322. Riding to my 1st target was swift and sweet.
The main problem, a good one by the way, is to figure out a way to milk the extra juice left. I got out @ 4302 instead of my planned exit 6 points below, which was easily reached.