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Today was a struggle, I let my long bias get the best of me. It did eventually pay off but I had to give all of my gains from trade #3. I held too long on a losing trade with max size. As the day progressed, I did bump up my contract size to 6, but I had good control of my emotions. (now reset back down to 4) I was willing to call it a day and take a loss had the trade not worked out. For whatever reason, I was confident that the sellers would give out before my daily stoploss would hit. All in all, lady luck helped out again today, I would like to be better at cutting my losses quicker in these type of trades. I don't think holding it for so long in a range would be good for me emotionally and mentally in the future. It could lead back to me averaging down and bag holding.
Lessons for tomorrow/week:
- don't size up back to 6 contract, I was confident but I was sweaty ... lets dial it back
- take the losses or B/E , be quick about it. I was too slow on my first trade ... it was a small winner with like 5-6 ticks. I couldn't pull the trigger as it was falling down ...
- kill that hopeium shit, I keep aiming for the stars when my target is the moon, only to fall down past sea level... lol wtf, just be happy I'm hitting the Stratosphere area
I gave back a good amount today, because I didn't wait for confirmation on a few trades. I also had two or three trades that went from small green to red. Somehow, I accidently oversized up to 8 or 9 contracts, not something I want to happen again.
Same take away as yesterday, today I wasn't able to improve on it. Tomorrow I will try and tame my trigger happy finger.
Hope everyone got theirs today, lets end the week strong!
Oooff, didn't start off well today, moved my s/l like an idiot. Next couple trades were also red, ended up pretty close to reaching my daily loss limit. I decided to move up my loss limit to $200 and later on increase my contract size to 9. The reasoning behind this was that the RSI was very oversold, price was rejecting, creating a demand zone. I just went small and added more up to 9 as price was moving in my favor going long. I did quickly reset my risk parameter right after placing this mega trade. I didn't want to regress to tilting and undo my efforts, if the trade went south.
Definitely a lot of over trading this week, looking back that I took a lot of pointless trades. I will spend some time this weekend to look over it and figure out how to make better decisions.
I cant let myself get out of control ... ignoring the daily loss limit will out of hand. I wasn't able to walk away today, it worked out, but I know it wont always happen. Anyways, glad this week is over. It was tough for me in keeping align with my risk parameters. I'll focus on this and do better next week!
Hope everyone got theirs today, see ya'll next week!
I opened a few more 50k eval account from the on going sale.
Started off well, I should of ended the day there, but I wanted to push it. I got a little out of control and ended with some how green after my mini tilt. It was dumb, I ended up overtrading, which wasn't I wanted. I also ended up removing my risk parameters briefly. I need to switch over to sim when I do these kind of things. I was able to scratch by today, but honestly, no more of this nonsense! This week is a reset week, back to basics.
Not posting my chart, took too many trades today ... I gave a bit back. Lol, fees took a bit as well.
Any tips on how to reset, should I take a day off? Maybe my expectations are getting to me?
I hope everyone got theirs today!
BTW, I didn't set up tradeviz to take in account for fees.
the combined indicator allows the user to select from several indicators ..
in the latest version .. (see attached image)
the basic indicator uses a moving average that has a few MATypes available
and a slower-moving average
.. there is an option for two other moving averages .. used for the display, not used in the trade determination
the MACD and MACD signal
the OBVM and OBVM signal
the VWAP
.. the VWAP has 3 bands determined by standard deviations .. used for the display, not used in the trade determination
so all total there are seven criteria being used to determine how the price chart looks .. one moving average is fixed .. including/excluding the other six criteria can be toggled by the buttons across the top .. and the status of the criteria can be confirmed in the box seen in the upper right corner
you can also see buttons for SwingHi and SwingLo .. these lines display the price of the breakout price and/or the stop loss price .. a simple click on F5 will update the location of the SwingHi/SwingLo lines to the most recent XX bars .. an audio alert to let me know when the price has crossed the line ..
I changed the indicator so it is part of the price panel now .. so pretty much one indicator has all of the typical indicators built-in for calculations, but these indicators are not displayed .. for my chart, blue is a buy signal .. red(ish) is a sell signal .. gray is a retracement and probably not a good price to place a trade, or place a limited counter trade .. the gray areas are like a trend break and/or the beginning of a change of character in the price chart ..
although I have a MACD indicator on my chart .. time will tell if it stays ..
and yes, I incorporated all of this as part of a strategy with buttons to place trades .. helps me be more disciplined .. the strategy adds trading time criteria and I can use a ChartTrader ATM Strategy
traded MNQ today to test the indicator, and to test the strategy .. was looking for tiered trades where the last target is 51 ticks away .. 3CX17T + 2CX34T + 1CX51T == 170 ticks X $0.50 per tick = $85 .. when the concept is proven this trade makes $850 .. BTW, there were 4 trades today ..
OOPS, just realized the buttons aren't visible in the images .. guess you will just have to take my word for it
updated the chart image ..
buttons across the top include/exclude the criteria from the indicator .. the buttons on the right side include/exclude the criteria for the strategy ..
the box on top right is for the strategy .. the box on the bottom right is for the indicator .. the idea is to make sure the criteria true/false match ..
23 06 26 MNQ
23 06 26 Properties
.. you don't have to be the first one at the party .. just be part of the party ..
@mewddsltd thanks for sending it over. I tried it out, very cool, but I don't see myself using the additional stuff you added. I think you are right, the small musculation's doesn't seem to differ much compared the previous version. For the time being, I'm gong to keep using the second version. Damn $850, shit that's solid. Looking forward to hearing the good news soon, haha.
I'm no longer going to be counting xx/100 anymore. Originally it was to see how many days I keep the streak up without breaking my rules. I failed that so fast, so I then decided to see how many days I can accumulate out of 100 without breaking the rules. At this point, I think its safe to say I'm breaking it like 50% of the time, haha. I'm just going to stop tracking it and just focus on my discipline. Maybe someday soon, Ill start it up again. I'm going to stop listing days for my batch 1 apex evals, they are already pass the 7 day limit... I just need to reach 3k.
Todays charts is below... decide to post it anyways so I can reflect and limit my overtrading.
Screenshot 2023-06-26 185627
I'm not sure if Ill trade for the rest of the month. It will the first month, since last October where I had green one, if I decide to stop. My worst month is coming up soon, ugh... August. The last three August has been terrible for me. I may take a break and not trade that month, just to save myself. I just need to focus on making money, not forcing the trade to go my way, so that I can be right. Too many trades today were held on just because I felt I need to be right. My largest loser of today was actually green for a bit, I should of gotten out of the trade. It was me waiting and when I was right, I chose to wait some more... damn greed. I didn't set the trade to B/E.
@mewddsltd What are your thoughts on time with renko...when it comings holding onto your position. I was thinking, could it be possible to have an addon that runs like stop watch. I noticed that my average losers are 4 mins, and my winners are around 15 mins. If I can have some way of letting me know that I have been in this dull trade for 2 mins, I should just cut my losses and move on.
Didn't set up tradeviz to take in account for fees and what not.
@injpowwetrust .. re: time vs renko .. I've started using both .. 1min chart and 34 RENKO for NQ/MNQ .. the 1-min gives the advantage of seeing the retracement/reentry more clearly .. the RENKO gives me better idea re: strength of trend .. I'm only looking for 1-2 good trades a day ..
check the previous post out .. updated the image ..
.. you don't have to be the first one at the party .. just be part of the party ..
I see you've attempted APEX 50K and 300K eval accounts. There's 20 pages of posts, I skipped through but didn't take the time to read them all. I can tell you've made changes to your trading, something we all work through.
I've tried a few prop firms myself. It's nice APEX has only 7 days to get funded and allows for multiple accounts. However, their trailing drawdown (TDD) does not stop at a price (say $150K acct with $5K drawdown, I hit $150K, with some e.g. OneUp, and I think others, the TDD locks in there, with APEX in the eval account it keeps following the acct balance up, which leads to more lost accounts and having to re-bill/reset. The rule sucks for traders, but obviously in place as a cash cow to APEX.
Would you mind summarizing where you are at right now? Do you have funded account(s), have you received payouts, what APEX account size do you have and what's your avg trading size? Have you tried other prop firms and why did you settle on APEX?
@TradeWithTrend .. don't think APEX is very helpful .. if you know where to look they probably have the answer on the APEX website but if you don't know what question to ask you are screwed .. luckily other users are helpful .. for example, you can go into Rithmic and set a daily loss limit .. say to $1000 for a $50K account .. so you don't blow your account up in a single day .. you can find instructions on YouTube .. I found one on Banana Bread Trades .. (not Traders)
@injpowwetrust .. here is an image of MNQ 1-min and 34-RENKO .. if I had one successful trade the RENKO chart doesn't give me a clear idea of where to re-enter the market .. on the other hand, the 1-min gives 4 pretty decent retracement bars with a good idea of where to re-enter market ..
so I am using both charts ..
23 06 26 MNQb
.. you don't have to be the first one at the party .. just be part of the party ..
