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The Psychology of a Dynamic Picture


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  #1 (permalink)
 John32 
Chicago, IL
 
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dy·nam·ic (d-nmk)
adj. also dy·nam·i·cal (--kl)
1.
a. Of or relating to energy or to objects in motion.

b. Of or relating to the study of dynamics.

2. Characterized by continuous change, activity, or progress: a dynamic market.

3. Marked by intensity and vigor; forceful. See Synonyms at active.

4. Of or relating to variation of intensity, as in musical sound.

I had an idea after talking with a trading partner while we were going over notes at the end of a trading session. We were discussing various fills, good and bad, and looking back at the chart at the related time of each trade in an effort to review the "picture" the chart presented when we made our entry decisions. Some of the fills,(especially the losers), seemed completely out of line with what the chart was showing. Psychologically, this was pretty damaging - standing there with an observer and having that very public "what the #*@! was I thinking" moment.

At that point, and after some continued anguish, we had a thought: lets look at that entry picture, but "paused" during replay. By doing this, we were then viewing what we actually "saw" when we first put the trade on. This showed, often times, a different picture - sometimes dramatically so, even if it was only because of the obvious omission of the part of the chart picture that came after the trade entry.

So that lead me to this idea:
What if I had an automated function that created one screen shot on each filled entry, and then one screen shot on each filled exit/cover, that then stored to a file which could be hyper linked from a trading journal?
This way you'd be able to see what the picture actually "was" when you executed your trade (by clicking on the fill and viewing the hyperlink), and what it was, later, when you covered it.

If you also had a charting package that showed positions, stops, and targets on the chart, you would have a great record of exactly what your initial plan looked like vs. what it looked like when you then covered the trade. I think this would be a huge help for keeping accurate records, especially for tracking MAE MFE, not to mention seeing how much your exit changed (or perhaps could have changed) with the additional information that was seen after the entry plan was established.

Mentally, this could go a long way to help a trader determine mindset before, during, and after a trade. The post mortem of trades that hit me the hardest are always the "why didn't I just cover that there, instead of letting it get stopped out" OR "why the -bleep- did I cover that there when it ran all the way to there". In hindsight, it is easy for the covers to never seem good enough.

I am not a programmer, and I have no idea how to code something like this, or if it already exists.( I haven't seen it, but that doesn't mean it's not already out there).

I am posting in an effort to get some opinions and some feedback as to whether this seems like a valuable tool or not, and if it could be feasibly programmed by someone here.

Thank you for considering this.

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  #3 (permalink)
 
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 lifeguardsteve88 
Pompano Beach, Florida, USA
 
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Not that this answers your question, but that idea ( taking screenshots at the time of order placement) makes a lot of sense. Perhaps you are already aware of the free download of the screen capture software called Jing? I just found out about it yesterday, and it makes capturing those screenshots you want ultra simple- just a click of a button at the time of order entry or order exit and it captures your a photo of your graph at that moment. Of course you have to upload it manually later when you write you journal entry, but until such a script as you suggest is available, using Jing although not automated, makes the process is pretty simple. My apologies if you are already aware of using Jing.

Cheers!
Steve

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  #4 (permalink)
 John32 
Chicago, IL
 
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thank you for the heads up on jing. Its a good idea. Would still look to automate that, so I can watch the trade.

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 aligator 
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John32 View Post
thank you for the heads up on jing. Its a good idea. Would still look to automate that, so I can watch the trade.

Better yet, I think you can use VVScreenShot indicator in downloads to sends screen captures to any folder you want with only one click.

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 Big Mike 
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Or the futures.io (formerly BMT) API if you want to script it.

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  #7 (permalink)
 John32 
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Big Mike View Post
Or the futures.io (formerly BMT) API if you want to script it.

Sent from my LG Optimus G Pro

Do tell BM - link me, hit me, 'splain it to me brother . . .

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 Big Mike 
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John32 View Post
Do tell BM - link me, hit me, 'splain it to me brother . . .

Better to learn how to use search



Mike



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  #9 (permalink)
 John32 
Chicago, IL
 
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lol, fair enough

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  #10 (permalink)
 John32 
Chicago, IL
 
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Big Mike View Post
Or the futures.io (formerly BMT) API if you want to script it.

Sent from my LG Optimus G Pro

Just read through futures.io (formerly BMT) api- great thread BM - thanks for the heads up. It seemed like a pretty useful idea, and you guys have already worked on it.

I am not a code guy, not C# for sure - I've only ever written strateges in IRT, Esignal, easy language (MC tradestation) so forgive the question if its too dense, but does that only work for NT? I see you have migrated to SC, do you have a version that works for that, or is the API not platform dependant?

thanks again

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Last Updated on July 21, 2013


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