Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Thursday, May 31, 2018

Failed Experiment

I had about a week of a wacky schedule in the mornings so I decided to not trade live and instead, try an experiment and marry short term scalping with some attempts at slightly larger trades. I thought about looking at higher time frame support and resistance and then looking at my lower time frame for a reversal trade at those levels and then looking for bigger wins with smaller size. Put the order in during the morning or the night before and perhaps let it run all day with a stop in, etc....

There is only one thing to say about this.

Absolute 100% failure rate. I tried this on sim for one week. I did not have a single winning trade. Not one. Not even close.

Conclusion, after all these years, I am not good at higher time frame analysis. Ok, it's worse than that, I apparently suck at it. BUT the shorter time frames, 5 minutes or less I seem to be pretty good at figuring it out. So I wasted a week of sim trades.

However, the real valuable take away for me is this, just stick with what you are good at and let someone else do the rest.

Tomorrow and forward for about a month, my schedule goes back to more or less normal then its vacation time. This year we are headed for Hawaii or more specifically, Lahina on Maui. Its a combination birthday present to my wife and I along with my daughters 16th birthday present. She picked the destination and the activities and we are going along with it. Its been a long time since we had a proper vacation and I think we all needed it really bad. We've been to Maui a couple of times and really enjoyed it. I just hope the weather is not hot and humid this time around. Its always been cool and breezy when we were there but I see its supposed to be warm with lots of humidity in July.

Cheers.

Friday, May 4, 2018

A quick post

I finished early today and have time for a quick post before I am off to the next thing.

Counter trend on the 5M chart but trend on the 6 range chart. Chart tells the story. Half size due to counter trend on the higher time frames. Four winning days in a row now. Longest streak in a while. Lots of 2 or three day streaks but 4 has been elusive. Thankfully my losses are quite small, less than half my winning days so the math is in my favor....as it should be.

Short term momentum, don't be greedy, don't move the stops....although this time that wasn't an issue since it just went straight to my target zone pretty quick....which is the way I like it, like it yes I do!!

Cheers, all the best and happy trading.

On a side note, I was diagnosed with degenerative arthritis in my lower back a few years ago. I had two years of cortisone shots which really helped but they accelerate the degeneration over time so I was looking for a different solution which I think I have found. Its called prolotherapy I think and they shoot a mixture of lidacaine and dextrose into the affected areas. Its been used in Germany for 50+ years with good results. It stops the pain instantly and the dextrose irritates the ligament causing more blood flow to the area which apparently helps it heal. So far so good. My second treatment and it feels better than it has in a long time for which I am grateful. We will see about the longer term affects though. There is another solution called stem cell therapy but its quite expensive but apparently it causes a reversal and healing of the actual tissue that has degenerated. That might be a couple of years from now after the cost has gone down. Its not covered by insurance so I need to see more data plus raise the 5-10K it will cost to do the full round of treatment.



Monday, April 16, 2018

A small sample

Here's a chart of what I look for each day. Some indication a given direction will continue at least for 10-20 ticks.

Just follow the short term momentum and don't be greedy.

1st trade, full size, second trade, single lot.

Same chart as before, just the dark theme at trade o vate. They have two themes, light and dark. If you don't like those themes, you are out of luck! I like both. The dark one seems to focus my attention better at least for right now.