This one contract thing seems to be working well. You will take lots of small losers but on the other hand you stay in for the big runs. You just have to hope u get the right mix each day. Be interesting to see what happens on a more range bound/chop type day.
1/ were your trade stats from Live trades 2/ R u still observing your trading times listed on RHS of your blog. Think there was one trade outside of that today at lunch time. 3/ Do u stand down for news and the open 4/ I note today you seem just to be focusing on originating signals ie no re entries.
I hve setup a 6R to better follow what you do. I have a 'GMA' which is pretty close to yours but not close enough. I don't have anything mimicking the 'AA' though. And obviously your dynamic S&R lines are subjective.
So given all the above, could you give me an idea why you did NOT take the following signals (at least on my version) from today (I have excluded any from your lunch blackout). Times are CST:
8.35am short @ 77.35 8.44am short @ 77.33 9.27am long @ 77.35 9.29am short @ 77.22 10.29am long @ 77.39 10.35am short @ 77.22 10.52am long @ 78.32 10.57am long @ 78.72
I suspect some reasons will be difference in GMA, but hopefully your answers will help me better understand how you are qualifying some of the setups.
1. Some are live, some are missed trades. I usually noted where I missed it or exited different than the stats show. The stats are 100% if rules are followed in a mechanical way. Currently I sometimes come out ahead when applying discretion to the setup vs. the hard exit rule based on my mechanical exit rule. 2. I am for the most part observing the same time when taking a live trade, but I am tracking this one particular setup every time it occurs whether it is on lunch or not. This will help me determine whether I need to be looking to trade lunch or not. 3. I am very careful to close most positions prior to any major news, especially things like Unemployment and inventory reports. I think it is also a good idea to do the same for CL and ES open times, but have learned to just be a little more conservative if I happen to be in a position. 4. I have been primarily focusing on entry and not re-entry since starting the statistics tracking again. I really hope to add more than re-entry which means it is pushing nicely in my intended direction and I am surviving small pullbacks.
With regards to your second question. Good to see you found something similar. I hope it really 'speaks' to you. Try to stay as basic as possible and decide to really 'own' that setup and stick with it for as long as possible. I really feel great having the same chart for about a year now. The times you are asking about are these CST? If yes, most are because my MA is flat or they may be counter-trend trades. I need to do some catch up and then will start posting charts again if this helps more. I really wanted to get over the idea that tracking statistics is a big thing for me, and I believe it will help tremendously.
Hey Gary,
ReplyDeleteThis one contract thing seems to be working well. You will take lots of small losers but on the other hand you stay in for the big runs. You just have to hope u get the right mix each day. Be interesting to see what happens on a more range bound/chop type day.
1/ were your trade stats from Live trades
2/ R u still observing your trading times listed on RHS of your blog. Think there was one trade outside of that today at lunch time.
3/ Do u stand down for news and the open
4/ I note today you seem just to be focusing on originating signals ie no re entries.
More Gary,
ReplyDeleteI hve setup a 6R to better follow what you do. I have a 'GMA' which is pretty close to yours but not close enough. I don't have anything mimicking the 'AA' though. And obviously your dynamic S&R lines are subjective.
So given all the above, could you give me an idea why you did NOT take the following signals (at least on my version) from today (I have excluded any from your lunch blackout). Times are CST:
8.35am short @ 77.35
8.44am short @ 77.33
9.27am long @ 77.35
9.29am short @ 77.22
10.29am long @ 77.39
10.35am short @ 77.22
10.52am long @ 78.32
10.57am long @ 78.72
I suspect some reasons will be difference in GMA, but hopefully your answers will help me better understand how you are qualifying some of the setups.
Post charts if u like.
Cheers.
Hey Stephen,
ReplyDelete1. Some are live, some are missed trades. I usually noted where I missed it or exited different than the stats show. The stats are 100% if rules are followed in a mechanical way. Currently I sometimes come out ahead when applying discretion to the setup vs. the hard exit rule based on my mechanical exit rule. 2. I am for the most part observing the same time when taking a live trade, but I am tracking this one particular setup every time it occurs whether it is on lunch or not. This will help me determine whether I need to be looking to trade lunch or not. 3. I am very careful to close most positions prior to any major news, especially things like Unemployment and inventory reports. I think it is also a good idea to do the same for CL and ES open times, but have learned to just be a little more conservative if I happen to be in a position. 4. I have been primarily focusing on entry and not re-entry since starting the statistics tracking again. I really hope to add more than re-entry which means it is pushing nicely in my intended direction and I am surviving small pullbacks.
With regards to your second question. Good to see you found something similar. I hope it really 'speaks' to you. Try to stay as basic as possible and decide to really 'own' that setup and stick with it for as long as possible. I really feel great having the same chart for about a year now. The times you are asking about are these CST? If yes, most are because my MA is flat or they may be counter-trend trades. I need to do some catch up and then will start posting charts again if this helps more. I really wanted to get over the idea that tracking statistics is a big thing for me, and I believe it will help tremendously.
Thanks Gary, yes those times were all CST
ReplyDelete