Pondering about whats it all about -really

As I have watched price charts over the many years. And trying to find that method that works for me. And having tried many (others) methods or attempts at methods. I keep coming back to what catch's my eye, what speaks to me.. I will have to admit here first I thought about Quiting, Moving on. Astalavista baby.  But then I stopped and asked myself - whats the problem here. You don't really have a method of your own. One that you stick with, one you tweak to make it work. So then - what speaks to me. How do (I) want to trade ?
So that brings me back to the thing that catch's my eye. It is nothing special. everybody talks about it.
So what do I like about it ?  It lets me know when I am wrong and where to put my stop. Its my line in the sand. It allows me a small risk. It is method that forces me to watch the chart. focus on the price action . wait for certain things to happen. It takes the (guessing ) out of it all somewhat.

So this is it. Phils method. the one he will work on , tweak and master.

Phils trading method

What is a DT or DB ?
 It is where the market fails to go any farther than that point in price.
 As long as they hold a stop beyond that point will never get hit.

What is a HL or LH ?
  It is where price fails to get to a previous swing end point. It is a sign of weakness.
 A sign of weakness means that they have failed to move price beyond what they would like.
When weak then the strong take over and price goes in opposite direction.

When price goes in opposite direction then a break on a small swing trend line shows strength.

The set up-
 Visual #1  are we in up trend, down trend, or range.
Visual #2  do we see a HL(weakness) in a up trend ?
Visual #3   do we have a b/o of small swing trend line?
The area above the b/o of our (working) area to do business.

Simming- It a curse over time

What is a sim junkie ? A sim junkie is one who has gotten so used to trading only in sim that it becomes almost impossible to take live trades and not freak out.  It is that moment when you see a trade and just take a chance that it will work or not. but to slide the cursor over 2 inches to the live dom and trade the same way just seems to be the hardest thing to do.  I wonder if my sim trading has created a phobia.  during the day, when I see a good setup I just know that it is time to take a trade. and I have noticed that the only thing going thru my mind it lets take a chance.  It will work or not.  But I seem unwilling to do the same thing live. I am unwilling to take a chance or losing real money or picking a trade that might not work.  That means that I truly do not except the uncertainty of each trade..  When I sim I know that even if I lose a couple of times off the bat that I can usually get it back plus more.  I need to be willing to just trade live and lose some money till I develop the same mindset as I have when live.  become willing and not unwilling.

It all boils down to ONE thing

Having asked around, all traders have fear. At least the losers.  Having watched and simmed my trading method for 3 weeks now it is obvious that the only thing I need to do is take the trades. Take my 3 -4 tics  of profit and let the weeks worth of set ups do what it does. make tics.  Guessing if the signal will be a good one is a waste of a good signal. I just have to take them and trade the method like a man.  If the method does not work in live trading then at least I have tried.

The SIGNALS work- just take them

JUST DO IT !

Baby Brick By Baby Brick

I made another trade today for 2 tics.  seems silly with the potential of whats  possible. but its better than sim trading.  It helps to have someone (Cap)in the same boat so to speak.  Both pathetic traders for the length of time trying. But I think we are move slowly forward together.  Today's possibilities.

Tried something else today while watching for trades.   Somewhat of a coin toss.  only difference is that I get to pick long or short. but it has to be right on the 1/4 hour of  every 15 minutes a trade.  2 pt stops  2 pt targets.  One does seem to learn things from it. You start to realize it is not about entry but letting the trade work out. As you have to leave it alone. you get to see the trade work its way about. I think over time it will teach me to leave the trade alone.  and to be ok with heat and to wait for profit.  I am going to continue to do it.  you get around 19 trades unless you walk off for break.  8 losers.  10 winners. So while not great win/loss ratio the entry is just guessing.  I think over time it will help with the current rsi method that seems to have at least an 90% win rate if targets are small.
Still inching forward. !!

Still at it.

Well I have been getting in some LIVE trades and I am about at b/e I think.  Still the usual fears of getting in, staying in, The thing is I think most traders have the same issues.  you would think knowing that would allow me to just be different and do what I need to do to be a good trader. I think it is just a matter of pushing the button wrong or right and just get used to being in the market. with all of the pressures of just being in a trade.  In sim I just get in when I see something and just let whatever happen and it usually works out.  If it doesn't then I am able to make it up if I keep taking trades.  Trade LIVE as you do SIM .

New Office

Well I will have to admit.  when one is is a small office all alone, one tends to focus more at the task at hand.  I also seem to focus on what I need to do to move forward with my trading.  Today i finally did it.  I made one live trade.  and took 1 pt out of a 6 pt move.  but I did it.  I am able to focus on the mental part of my trading and leave the tech stuff alone.  I will get this. and reach my goal  !!

The name of my business- Phils trading

I live in a 3000 sqft. house with just my wife, that I get along with like two peas in a pod and one old dog that doesn't bark any more. Yet for some strange reason I seem to need to trade in my own space.No matter where I set up my trading space I felt like I was in the way, to easy to get distracted, or guilty for sitting around on my ass.  So I have moved back to my old office next door in my shop that only I have a key too.  While I may be able to move back into the house someday. Until I can trade with the same mind set as I do when sim trading I am going to sit here and work on getting my errors down to zero and eliminate any thing else that is standing in my way of trading like I know I can.
Friday I made 1 live trade. and I know why it was a losing trade.  I tried to catch a bottom rather than just waiting for the turn and the swing to show itself.  So I will not do that again. As that is not my way to trade.
Eliminate error #1   NO bottom or top picking

Mic Please

Dear Mrs. FT 71,
Rather than ask for the mic- I am going to free your husband up for the time that I would be asking him the same question that he has answered for years.  May he spend that extra moment with you.
Why would I ask for the mic?  Well long story short- Janalee basically said.  You need to get on the mic and ask Morad where to find your balls !  So taking that statement to my mindful mind, I asked myself -what would he say. Probably the same things I have heard him say to others in the last year or so. And the same things he says in his early webinars.  So I have decided to take control of myself and apply what I am to do instead of continually relying on the advice of others.I will continue to listen to webinar # 3 (daily if need be) and the execution webinar till It sinks in and I can apply it as I need to.  If I can take 200 sim trades and make close to 50 pts on one contract. Then I am ready to move from sim to live and be fine doing it.

One of the issues I have had switching from sim to live is that I needed a chart set up that was more green light red light to give me more confidence in taking trades. While I can sim intuitivly . trying to do so live , I tend to just sit and let trades go by.  I have come up with a chart that allows me to take the trades I normally would but shows swing direction more bold than I seem to need in sim.  Todays results -

Just trade Monsterslayer and be prepared to take some falls in the beginning and get your footing and fears under control.

Viewing a trade as a working area

When I talk to traders that are actually making money, I find out that they have one thing in common. They don't use stops and they view one trade as a series of trades.  Usually adding till price swings around, getting them a profit finally. While I am not sure I could trade that way or want to, I will have to admit that I tend to do that on sim and it has turned most trades into winners.  Yet when you do that against a major up or down move  you get screwed big time.  I think I will continue to use a 2 pt stop and just take my medicine if hit.  I seem to be able to get my goal if I keep chipping away and just take low risk trades as I see them.  Unfortunately that usually involves just reading price action and context and as such I tend to feel I don't really have a method.  But I have found most (methods) suck. But if I am able to daily get around 4pts  then I must have a edge and a method even I am unable to explain how I trade.
Somehow I must learn to see things when trading live as I do in sim.  The brain glaze must go away !!

Never Fight a Trend

When one gets a lot of losers in a row, One has to ask why ?  If I figure why and do the opposite then those losing trades should become winners.  I have come to a lot of conclusions today.  Forget what others are doing. Develop a plan on what I know and then just make it happen. I am here to make money not listen and try to grasp what others are doing. the market is not that tough to read.
Today I Lost because I was not following the longer time frame trend. And tried to pick bottoms and fade the trend.  that only works if you are looking for 2-3 tics profit.  Tonight I am sitting here, discarding what doesn't work and forming a plan that I can do and do well.  I can be a great trader. I just need to listen to me and trust in my knowledge and skill.

no more of this !

Floating Between Stage 3-4

I would appear that according to Morad I am in stage 3 -4 . probably closer to 3. What does that mean ?  If I just trade I can trade.  I don't do stupid things to much any more that would hurt my account.  All I really need- IS TO BELIEVE IN MYSELF THAT I AM A STAGE 4 TRADER. Trust in what I see. and the low risk set ups that come my way.  What is the issue with my trading ?  The Blur that happens from using a sim dom to a live dom. I must be aware of this and just take the trades and realize that I might lose 20 times in a row and be ok with it.

meaning less - other than proof that I am able to do it.

Todays homework- watch for 2000 and then back down on daily chart

Needing a little less Discretionary set ups

The trouble I am finding is that the signals in live are not as clear. Sim for along time one tends to just get a feel of it and the emotion doesn't get in the way. I think I will revert to using a price pattern I have observed over time will make the set ups or black and white.  Then I will know when to take a trade and when I have failed to do so.  the pattern also gets me in (with) the momenteum..

Friday- I did make $23 real live dollars and felt like a real trader. A long way to go  but moving forward !!

The pattern  -  long term trend    short term trend  same.  A LH or HL is what it means- a market to weak to break a db or dt on the pb so have an order waiting for the pb trend line break . Usually good for 1-2 pts.  All I need is  3 trades for 1 pt ea. Will work towards taking the trades. To get used to just taking them without fear or stress.

Stop Loss. To NEVER be moved again

Today's goal was to take 3 trades. 8 tics to target or 8 tics to stop.  Boy do I have a way to get to that point.  Couldn't even trade live. went to sim to find out what was the difference. It all boils down to seeing a possibility and just take the trade/taking a chance.  I always do well in sim so I need to mental have the same mind set when live.  In keeping to move forward- Lets just take ONE live trade for 8 tics good and take the stop for 8 tics if need be. Just wait for a good set up !

I will make the baby steps smaller if I have to, till I succeed at one goal and then increase the goals

Goal for Feb 26 2016

take one trade and hold for 8 tic target or 8 tic stop. And be mindful that the trade is just one of many over time.

Monsterslayer- not

Today market broke out of range and went close to 45 points.  I got  0 tics on one trade. and that trade was the perfect entry at the bottom before the big up move.  As I sit here thinking about how I trade in sim versus when live. It is because in sim I just see something that has the potential to work and just take a chance.  When live, I don't seem willing to just take a chance but look for confirmation.

SO HOW DO WE BEGIN TO OVERCOME THE CHALLENGES INHERENT IN AN UNCERTAIN ENVIRONMENT ? THE ANSWER IS TO SEE A SIMPLE BIAS THAT SKEWS PROBABILITY IN ONE'S FAVOR OVER MULTIPLE TRADES.

Tomorrows goal - to take 3 trades letting the stop or target get hit, with the above constant mind-fullness.

Perfect Execution

My trading has boiled down to the mental side. maybe it always has, but I can see that it is the only thing left.I have a fairly good market read, I have a method that I can stick too.without having to change the chart every week. I have the discipline to only take actual set ups. What I fail at is just taking the trades.

There are two trading statements that I am going to focus on.
1)  It is not about the money, It is about perfect execution.

2)  A edge is nothing more than the odds of one thing happening over the other.

As a trader who has major trouble with pushing the button, taking the trade. I find if I focus on those statements that it tends to help..Focusing on just perfect execution of my method and every aspect of it, and making it a game rather than a money making endeavor.

Starting to journal - Once again !

I think I am realizing that there are certain things one must do if one is to be serious about their trading.  I have the skill set. I have the control while in sim. It is now time to do the same live.  I must be committed to this to succeed.  The monster within me has control and I will defeat it.

I am going to quit trying and just do it !!!  results of 200 sim trades shows I have an edge.

what is my edge ?  only take the low risk trades.  lol  well that really is it.  What do I mainly look for as I watch the chart.  I look for what I call rubberband moves. I am not going to explain it. I just know  when I see them.  What else ?  well to be honest and somewhat crude.  I see the Market Profile thru a mans eyes. I see it as a Breast.  The top and bottom of that breast are the edges and like any guy, the goal is to get to the nipple.  And the nipple is where price likes to hang around.  The trick is to wait for the breast edges to show themselves.  Which means not trading the first hour usually.  Realizing of course that some days there are 2 busty breasts forming or other types of forms.
Why am I writing that down ?  So that when I question where or not I have an edge, I can say yes here it is and it has worked for 200 trades. It is my method of taking a little out of the markets each day . I seem to average 5 pts a day with 1 contract. Or at least try to make that my goal.
I have run out of distractions that take me away from the real issue.  PUSHING THE DAM BUTTON