So if you could blink and just make trading easy how would you do it. price goes up or down. it holds or fails at support or resistance. Price is usually in range or trend. So how do you design a system around those things.
I seem to be trying to trade a method called Pats used by mack. while he seems to be able to make it work I get chopped to pieces even when I follow the rules . looking at this chart one would think that taking any break out of the smaller swing trend lines would get you headed in the right direction . but i seem to have my timing off or something. So maybe I am trying too hard. I only see 4 trned line breaks in a down trend. so why would I take any long trades.
Yesterday I was mentioning to my wife that I have been trying to trade for years and still feel like I am not a better trader than I was from day one. maybe even worse. It seems that if I see a long entry that is works better to push the short button. I seem to be really good at picking consistent losers so doing the opposite one would think I could become a consistent winner. I am amazed at how many times I can be in a trade but but cannot get the market to give me 2 tics in my direction yet it will constantly be giving me heat and then go 2 pts against me with ease.
It pisses me off. I should be a great trader by now. but still can not follow a trend. I was up 2 pts on first trade and now having made some lossing trades am down 10 1/2 pts how is that even possable.
I didnt add to a bad trade just took full stop outs alot. What is this thing that causes me to always be in heat. another 2 pts loss. It is like the market is out to get me. Or are all poor traders just doing the same as me. I have noticed that all pro traders seem to have there stops really far away and just add and subtract contracts till they should a profit. I am not going to do that. when I get in there is a 50/50 chance of price going my way. if I can not get it to go my way 50 % of the time I might as well just flip a coin and screw the chart watching. Do I not watch a big enough box. if you put a snake and a rat in a shoe box the rat is going to get bite. but not me if I am standing outside. so if my target is close the my entry you would think I would get (bite) all the time. as my stop is outside the box. but no, that dam snake ignores the rat eats a hole in the box and hunts me down, even if I am 5 miles away. There are times I think I should just stop trying and go do something else. there I said it. yet trading with what I know seems so much easier to do than start some other business with all of the things required to run it. Have I whined enough today?
The Monster Within Me
Derivative transactions are not suitable for all investors.
Past performance is not indicative of future results.
The information provided here is for educational purposes only.
The Monster Within Me
There is a monster within me. His name is Phil. These are the journal's that will record my battle with the monster and his attempt to keep me as a losing trader. But I will prevail and learn to control this monster within me. I will be a great trader, I will be in control of who I want to be.
I will SLAY THE MONSTER within me so that it can no longer control me and my thoughts.
By becoming an Observer of the self, I give authority to the Empowered parts, to be all I can become.
Brick by Brick
Tuesday, June 30, 2015
Sunday, February 15, 2015
I really suck at this blogging /journal trading thing. I have been trying to find some method that actually works. Tried the Pats price action method, and while it is ok. It seems to be too much art for a trader who has fear against him. I have gone back to trading with my long time trading partner. He has shown me how to use and see the buyers and the sellers on a volume ladder chart. That, along with a special vwap chart I am able to see at my levels if the market is getting stronger or weaker and if it is likely to turn or keep going. I finally have and see this as a method that I can trade without the guessing that i am trying to avoid. I can only hope that i will once again start to journal my days to remind me of the things i need to work on or stop doing.
This weeks goals.
To pick and enter only at my pre-planned levels. And use the b/s ladder to confirm direction.
To make at least 2 or 3 trades a day
And to trade live and not sim.
And remember the one mental thing- trade the chart and don't think
If I can do just these goals I will be closer to on my way to a disciplined trader.
This weeks goals.
To pick and enter only at my pre-planned levels. And use the b/s ladder to confirm direction.
To make at least 2 or 3 trades a day
And to trade live and not sim.
And remember the one mental thing- trade the chart and don't think
If I can do just these goals I will be closer to on my way to a disciplined trader.
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