Writing it down gets it out of my head...
This thread isn't anything special, just a way for me to type out my trading stream of consciousness: what I'm about to do, did do, should have done, scenarios I'm looking for, etc, while going about my daily trading. I really do need to get it out of my head because putting it on 'paper' forces me to think about and plan my trades and targets and communicate my reasoning. Planning a trade within a set of rules provides some discipline and accountability...especially if someone is watching, um, if anyone does decide to follow this thread. I guess this means I need a babysitter? So, thanks for babysitting me.
No, I won't give you my template. No, I won't tell you the name of the indicators I use or message them to you. No, I won't sell them to you. Most traders I've interacted with over the years, including myself, wouldn't do the simplest money making trading strategy someone handed them anyway. It's the old story about herding cats and 95% of people on FF are going to wander around for years like I did until I forced myself to stop jumping from idea to idea and system to system. Take what you know and put it together to make your own system, dig into it, dream about it, have nightmares about it, set up your trading rules within a trading plan and just trade. Yep, either stop wandering and force yourself to master something or quit trying to trade and go have a happy life dreaming about something you can accomplish...that isn't trading.
Cashbox? Aren't you thinking a little too highly of your trading abilities? Well, no, because the name was given to me as a teenager while on the basketball court and has nothing to do with trading. I couldn't make a basket to save my life, but they said I was money when it came to knowing where my team mates were about to be on the court and how I got the basketball to them so they could score. I was the assist king. So they nicknamed me Cashbox.
Hopefully, I can assist you while I get trading out of my head!
The original post is above this line. Since I have never done a thread before, I have no idea how this thread will evolve or what routine I might fall in to. My guess is, the most consistent thing about this thread will be my inconsistency as I find my way.
Notes and thoughts:
Do yourself a huge favor if you want a better chance at success in trading...don't focus on how many lots someone else is trading or if this is true or that is true...focus on the actual trading and what you can learn for your own system development because ultimately you will NOT be able to succeed copying someone else's system. You need to take bits and pieces of different things that you can see and put them together for your own system. If tends to reason that we're all different, we all see things differently, so why wouldn't it make sense that you have to develop your own trading system.
The 4 hour chart is my overall direction as to supply/demand boxes, trend lines, the big picture of what's going on. I take a quick look at the Day, Week, Month to make sure nothing is in the way.
The 15 minute chart shows me temporary speed bumps along the way and tells me if there's a potential reversal. I will look at the 30 and 1 hour from time to time to see if there's anything that might slow me down.
The 5 minute chart gives me a better entry area and sometimes the one minute chart, but these charts are too small for direction and are only used when markets are moving quickly. The price action at the 5 or 1 is helpful on entries because it shows me higher highs or lower lows, etc, at areas inside the 4 hour or daily charts where I'm looking for longer term reversals/swings.
Something i try to remind myself about often: follow the trend 90% of the trades and do reversals 10% of the trades...A reversal that goes with the larger (4 hr, D, W) trend is typically a huge move and is part of the 90% with the trend trades.
sl = stop loss, tp = take profit, all times are NYC eastern time, tf = time frame.
One of my goals is to find longer term swing trades and trade intraday within those swings.
This thread isn't anything special, just a way for me to type out my trading stream of consciousness: what I'm about to do, did do, should have done, scenarios I'm looking for, etc, while going about my daily trading. I really do need to get it out of my head because putting it on 'paper' forces me to think about and plan my trades and targets and communicate my reasoning. Planning a trade within a set of rules provides some discipline and accountability...especially if someone is watching, um, if anyone does decide to follow this thread. I guess this means I need a babysitter? So, thanks for babysitting me.
No, I won't give you my template. No, I won't tell you the name of the indicators I use or message them to you. No, I won't sell them to you. Most traders I've interacted with over the years, including myself, wouldn't do the simplest money making trading strategy someone handed them anyway. It's the old story about herding cats and 95% of people on FF are going to wander around for years like I did until I forced myself to stop jumping from idea to idea and system to system. Take what you know and put it together to make your own system, dig into it, dream about it, have nightmares about it, set up your trading rules within a trading plan and just trade. Yep, either stop wandering and force yourself to master something or quit trying to trade and go have a happy life dreaming about something you can accomplish...that isn't trading.
Cashbox? Aren't you thinking a little too highly of your trading abilities? Well, no, because the name was given to me as a teenager while on the basketball court and has nothing to do with trading. I couldn't make a basket to save my life, but they said I was money when it came to knowing where my team mates were about to be on the court and how I got the basketball to them so they could score. I was the assist king. So they nicknamed me Cashbox.
Hopefully, I can assist you while I get trading out of my head!
The original post is above this line. Since I have never done a thread before, I have no idea how this thread will evolve or what routine I might fall in to. My guess is, the most consistent thing about this thread will be my inconsistency as I find my way.
Notes and thoughts:
Do yourself a huge favor if you want a better chance at success in trading...don't focus on how many lots someone else is trading or if this is true or that is true...focus on the actual trading and what you can learn for your own system development because ultimately you will NOT be able to succeed copying someone else's system. You need to take bits and pieces of different things that you can see and put them together for your own system. If tends to reason that we're all different, we all see things differently, so why wouldn't it make sense that you have to develop your own trading system.
The 4 hour chart is my overall direction as to supply/demand boxes, trend lines, the big picture of what's going on. I take a quick look at the Day, Week, Month to make sure nothing is in the way.
The 15 minute chart shows me temporary speed bumps along the way and tells me if there's a potential reversal. I will look at the 30 and 1 hour from time to time to see if there's anything that might slow me down.
The 5 minute chart gives me a better entry area and sometimes the one minute chart, but these charts are too small for direction and are only used when markets are moving quickly. The price action at the 5 or 1 is helpful on entries because it shows me higher highs or lower lows, etc, at areas inside the 4 hour or daily charts where I'm looking for longer term reversals/swings.
Something i try to remind myself about often: follow the trend 90% of the trades and do reversals 10% of the trades...A reversal that goes with the larger (4 hr, D, W) trend is typically a huge move and is part of the 90% with the trend trades.
sl = stop loss, tp = take profit, all times are NYC eastern time, tf = time frame.
One of my goals is to find longer term swing trades and trade intraday within those swings.