Truthfully I have thought little on (the) method of choice today. I have health issues a good part of the time and while my mind tends to take them farther than they really are, there are days where it becomes all consuming. Rather than remind myself what ills I seem to have, I will remind myself of what relieves it.
Trading is rather stressful and it tends to create (other) issues. To combat this, I must remember to daily do the following.
Get my trading desk up to a standing level so that I can trade on my feet rather than sitting which in turn shuts off my brain my breathing and half of my organs over time. Raising my desk to standing height will also allow me to practice Qigong the Chow method. While I am not sure why it helps it just seems to help me both physicially and mentally. I have realized today that I need to do it for at least 2 hours a day, so that it will in turn cure me of many of the illnesses that seems to creep up on me. It also relaxes my mind during trading so that I am not as fearful but have a feeling of (in) control. I am now committing to do this more than picking methods, taking trades or basically anything else in my busy crazy life. For without doing it I will die an early death.
I must make Qigong my Habit for life.
Sunday, November 30, 2014
Saturday, November 29, 2014
Method Day two
I thought I would take the (same) one day 11-29-14 with the same time frame if possable and create a chart showing the different trading methods I have learned or tried to learn over the years. In doing so I have come to a few conclusions. I have grown comfortable with naked charts (price action) I find the indicator methods flawed (lagging) I some I just don't want to work that hard at learning. lets face it. It is not a helicopter. that can move left to right, backwards or forwards, or up and down.or hover. Price only moves up or down a little or alot. It only appears to move forward because we are time based creatures that live in a universe based on time. I only need to be right about two directions rather than six. up or down. as hovering it not really a market at all.
In my quest for picking one method to trade. I see that while many will work. One can only trade one method well. What one is looking for is a method that shows low risk areas that either work or don't quickly. With an opportunity to win more than risk. A method to take the most out of the swings that are presented each day.(As a day trader) I am learning more towards those methods that allow me to see weakness and strength at the current price, as I look back at viewing previous swing areas. As FT 71 says, where has it been where is it going and how well is it doing it. If price truly looks for sellers (supply) as it goes up and buyers(demand) as it goes down to chance price direction or balance, the better I can find those areas of (turns) the better.
I am well aware that picking the method is the easy part. it will be the execution part and learning to be ok with being wrong and not perfect that will be one of my hardest obstacle to overcome.
In my quest for picking one method to trade. I see that while many will work. One can only trade one method well. What one is looking for is a method that shows low risk areas that either work or don't quickly. With an opportunity to win more than risk. A method to take the most out of the swings that are presented each day.(As a day trader) I am learning more towards those methods that allow me to see weakness and strength at the current price, as I look back at viewing previous swing areas. As FT 71 says, where has it been where is it going and how well is it doing it. If price truly looks for sellers (supply) as it goes up and buyers(demand) as it goes down to chance price direction or balance, the better I can find those areas of (turns) the better.
I am well aware that picking the method is the easy part. it will be the execution part and learning to be ok with being wrong and not perfect that will be one of my hardest obstacle to overcome.
Friday, November 28, 2014
method search day one
Today I reviewed Market Profile or should I say Volume profile as (the) method of my choice for trading.
I am not sold on it yet, though I quick glance at a birds eye view of a chart shows where price likes to be or has been and is now. Or as they say - The balance areas/ imbalance.
I am looking at this Supply and Demand thing also, but I think the (art) of finding the levels may take some time and still remains (art) which is something I was hoping to avoid.
This is a list of the (other) methods I need to consider or not.
Tim Morge- Median Lines -Andrew forks
Ryan Watts- as scalping method that worked when the market had more swings per day
Alexander Elder- 3 time frame channel/macd method
Tim Deel- box trading- price action
Trisha -easy emini she seems to change her set ups alot her newest thing is footprint
Sam Seiden - supply and demand
Tony - T channel a indicator method that as usual dint work well in chop
Al Brooks- price action-
I am sure there are more but do I really care- not really
It is always about price - it goes up or down or ranges. I find the indicators lag . while they tend to divide the market into above or below, they usually signal entries in the middle of a move. finding a way enter at the end of the swings would be ideal, but then that is looking for perfection. I will settle for something that make the wins more profitable than the losing trades. Then again it is not the entry method so much as the execution and management of the trade when in.
And while I can read the price action and prefer using it only, it too is an (art) But I have noticed that pro traders use past human behavior along with there confidence in that (art) to be successful at their trade. I must learn to be confident in my own read and what I know I can do. I must mentally take the amount of fear that I have and transform it into confidence. Till I ooze with it.
If trading is 90% mental then that is where I will spend most of my time and only 10 % on the method.
I am not sold on it yet, though I quick glance at a birds eye view of a chart shows where price likes to be or has been and is now. Or as they say - The balance areas/ imbalance.
I am looking at this Supply and Demand thing also, but I think the (art) of finding the levels may take some time and still remains (art) which is something I was hoping to avoid.
This is a list of the (other) methods I need to consider or not.
Tim Morge- Median Lines -Andrew forks
Ryan Watts- as scalping method that worked when the market had more swings per day
Alexander Elder- 3 time frame channel/macd method
Tim Deel- box trading- price action
Trisha -easy emini she seems to change her set ups alot her newest thing is footprint
Sam Seiden - supply and demand
Tony - T channel a indicator method that as usual dint work well in chop
Al Brooks- price action-
I am sure there are more but do I really care- not really
It is always about price - it goes up or down or ranges. I find the indicators lag . while they tend to divide the market into above or below, they usually signal entries in the middle of a move. finding a way enter at the end of the swings would be ideal, but then that is looking for perfection. I will settle for something that make the wins more profitable than the losing trades. Then again it is not the entry method so much as the execution and management of the trade when in.
And while I can read the price action and prefer using it only, it too is an (art) But I have noticed that pro traders use past human behavior along with there confidence in that (art) to be successful at their trade. I must learn to be confident in my own read and what I know I can do. I must mentally take the amount of fear that I have and transform it into confidence. Till I ooze with it.
If trading is 90% mental then that is where I will spend most of my time and only 10 % on the method.
Thursday, November 27, 2014
Restarting-Again
It is Thanksgiving Day 2014, As I look back at my attempts to be a profitable trader, I would have to say it has not happened yet or even close. As I want to make this happen I need to get serious about it. As I sit here and think about what I need to do to move forward I ask myself what do good traders do that i am not. Here is the list.
They keep a daily journal of - trades- thoughts- goals - things to improve upon
They trade with one method - that they have created themselves from a mix of what other are doing.
They spend more time working on the mental side than on the mechanical side.
They have a plan and they stick with that same plan
They seem to teach others what they do instead of spending time reading what other are doing.
They are highly confident in their method and execute it properly.
They know every way there is to trade but have dialed it down to just using one or two methods.
They keep their charts and screen set ups always the same, never changing
They continue to learn but only add when it has proven to be helpful with the current method.
They have learned to execute their trades when the method shows itself without fear controlling them
They have realized and truly believe that trading is a probabilities game.
They are able to manage there trades with control so as to lose small yet win more.
While there are probably more things a pro trader does to be who they are, I will try to copy and work towards the above to help me obtain my own goals in trading. These are the beginning things I will accomplish to get me moving forward.
Assignment #1
I will pick one method that I will use to find trades- I will have picked that method by Dec 1, 2014
As I have learned many ways to trade is is a matter of just picking one and sticking with it only. As the trading method itself is not really as important, (notice that everybody trades all kinds of different ways) but picking one that I can mentally do or learn to do within my personality set.
Assignment #2
I will journal here every day regardless of trading days or not. But if nothing else but to form the HABIT of writing a daily journal. As trading is mostly a mental endeavor, Most of my journal should focus on that part of it rather than the trade win /lose score.
Starting with these two assignments is a good start and one that will keep me busy yet moving forward with goals that have a need to be done due date.
They keep a daily journal of - trades- thoughts- goals - things to improve upon
They trade with one method - that they have created themselves from a mix of what other are doing.
They spend more time working on the mental side than on the mechanical side.
They have a plan and they stick with that same plan
They seem to teach others what they do instead of spending time reading what other are doing.
They are highly confident in their method and execute it properly.
They know every way there is to trade but have dialed it down to just using one or two methods.
They keep their charts and screen set ups always the same, never changing
They continue to learn but only add when it has proven to be helpful with the current method.
They have learned to execute their trades when the method shows itself without fear controlling them
They have realized and truly believe that trading is a probabilities game.
They are able to manage there trades with control so as to lose small yet win more.
While there are probably more things a pro trader does to be who they are, I will try to copy and work towards the above to help me obtain my own goals in trading. These are the beginning things I will accomplish to get me moving forward.
Assignment #1
I will pick one method that I will use to find trades- I will have picked that method by Dec 1, 2014
As I have learned many ways to trade is is a matter of just picking one and sticking with it only. As the trading method itself is not really as important, (notice that everybody trades all kinds of different ways) but picking one that I can mentally do or learn to do within my personality set.
Assignment #2
I will journal here every day regardless of trading days or not. But if nothing else but to form the HABIT of writing a daily journal. As trading is mostly a mental endeavor, Most of my journal should focus on that part of it rather than the trade win /lose score.
Starting with these two assignments is a good start and one that will keep me busy yet moving forward with goals that have a need to be done due date.
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