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  • #141
  • May 17, 2010 6:34am May 17, 2010 6:34am
Quoting eurotrash
Hi Bleek,

You mention that you can trade without charts. For your trades in this journal, do you rely on data other than a simple price chart, i.e. you have some other source of data confirming your trades such as some limit order book?

Thanks
I have no access to order books level 2 information, I just use a bucket shop platform.

I do however keep a journal of prices from different market open/closes, key levels through the previous weeks/days and prices I've seen before, constipated price ranges are my favourite to keep note of. It's a bit 'old fashioned' writing prices down, but it works for me.
"I made all my money by selling too soon"
  • #142
  • May 17, 2010 7:09am May 17, 2010 7:09am
Quoting Bleek
I have no access to order books level 2 information, I just use a bucket shop platform.

I do however keep a journal of prices from different market open/closes, key levels through the previous weeks/days and prices I've seen before, constipated price ranges are my favourite to keep note of. It's a bit 'old fashioned' writing prices down, but it works for me.
Cool, thanks for the info.
  • #143
  • May 17, 2010 9:59am May 17, 2010 9:59am
Well my friend, it seems you have found a very novel way of trading. Keep up the good work.
Find an Edge. Only way to succeed in this business.
  • #144
  • May 17, 2010 10:47am May 17, 2010 10:47am
I'm currently holding a short on Cable from 1.4478, going well, don't normally hold positions like this but I'm moved a stop to cover and I'm going to ride these 20 contracts out!
"I made all my money by selling too soon"
  • #145
  • May 17, 2010 10:48am May 17, 2010 10:48am
Quoting jattputt
Well my friend, it seems you have found a very novel way of trading. Keep up the good work.
Thanks.
"I made all my money by selling too soon"
  • #146
  • May 17, 2010 11:21am May 17, 2010 11:21am
Quoting Bleek
I'm currently holding a short on Cable from 1.4478, going well, don't normally hold positions like this but I'm moved a stop to cover and I'm going to ride these 20 contracts out!

Filled
Cable - Short 1.4478 /TP 1.4368 = +109 ($21,800)

Awesome day, my best haul thus far, I'm days away from going full time.
"I made all my money by selling too soon"
  • #147
  • May 17, 2010 11:39am May 17, 2010 11:39am
Wow congrats, yeah there seriously is no point keeping a full time job becuase by now it's probably costing you money.

On another note, I noticed that even the day before you started this journal, you were trading differently to how you are now (according to what you said on other threads). Was this an experiment, or did a light bulb go off right at that time, etc?
  • #148
  • May 17, 2010 11:51am May 17, 2010 11:51am
You earned 21800 dollars in one day? Or do I have to place a dot somewhere?

You're using momentum.
Does this mean you look at the short term trend? (<1hour)

You buy/sell when price is making a short term new high/low and is relatively 'strong/active'?

Do you buy 'at the market' or do you place 'limit orders' beyond a certain price (round number)?

Or am I completely off base here?
  • #149
  • May 17, 2010 11:57am May 17, 2010 11:57am
Quoting eurotrash
Wow congrats, yeah there seriously is no point keeping a full time job becuase by now it's probably costing you money.

On another note, I noticed that even the day before you started this journal, you were trading differently to how you are now (according to what you said on other threads). Was this an experiment, or did a light bulb go off right at that time, etc?
Light bulb moment BIG TIME! But I had been paper trading before that, literally on a paper journal... and eventually I just thought, this works, crack on.

The job situation is tough because of my position, but I'm working on it.
"I made all my money by selling too soon"
  • #150
  • Edited 11:13pm May 17, 2010 10:36pm | Edited 11:13pm
hello Bleek

to turn 2500 into 100,000 in the space of one month is quite impressive. How did you come up with your tiered money management system? This has obviously been the key to such rapid growth. Did you read about it in a book somewhere? Are you still risking 5% per trade?
  • #151
  • May 18, 2010 2:35am May 18, 2010 2:35am
Quoting Trumpcard
hello Bleek

to turn 2500 into 100,000 in the space of one month is quite impressive. How did you come up with your tiered money management system? This has obviously been the key to such rapid growth. Did you read about it in a book somewhere? Are you still risking 5% per trade?
It's entirely my idea.

With the MM system you only have to be 50% accurate to grow your account well. I risk 5-10% per trade, I could in theory risk as much as 35-45% with my success rate but that would be too risky.
"I made all my money by selling too soon"
  • #152
  • May 18, 2010 2:36am May 18, 2010 2:36am
I've just hinted a bit of stop running, both my positions are out for break even.

I was short and then I was long on Cable, I'm now out and waiting.
"I made all my money by selling too soon"
  • #153
  • May 18, 2010 3:46am May 18, 2010 3:46am
Quoting Bleek
I had a limit long at 4470, only needed 25-30 pips and it's doing exactly that.

I hesitated, could have bought at market and now I've missed out - time for a coffee!
I shouldn't doubt myself, could have taken my daily 30+ points and ran.
"I made all my money by selling too soon"
  • #154
  • May 18, 2010 3:52am May 18, 2010 3:52am
Ok no more sitting on the fence.

Filled
Cable - Short 1.4471/TP ~30/ST ~15 = ??


You can see why I don't trend trade now, I've gone from bullish to bearish in under 20 minutes.
"I made all my money by selling too soon"
  • #155
  • May 18, 2010 4:02am May 18, 2010 4:02am
Quoting Bleek
Ok no more sitting on the fence.

Filled
Cable - Short 1.4471/TP ~30/ST ~15 = ??


You can see why I don't trend trade now, I've gone from bullish to bearish in under 20 minutes.
Filled
Cable - Short 1.4471/TP 1.4436 = +35 ($7,000)
"I made all my money by selling too soon"
  • #156
  • May 18, 2010 4:25am May 18, 2010 4:25am
High volume * momentum.
Looking at your last SELL it seems like you are waiting for a short term strong movement to appear. Like (two) big 5-min bars going in one direction. And going for a fast 20-25 pips. But you don't look at charts? Could you explain what type of information you write down in your journal?
http://i44.tinypic.com/ei5rie.png
  • #157
  • May 18, 2010 4:45am May 18, 2010 4:45am
Quoting Jolly Jumper
High volume * momentum.
Looking at your last SELL it seems like you are waiting for a short term strong movement to appear. Like (two) big 5-min bars going in one direction. And going for a fast 20-25 pips. But you don't look at charts? Could you explain what type of information you write down in your journal?
I use a method I've developed called 'constipation and fill' which looks a little like a sudoku puzzle, it's a chart of price activity over the hour, the highs, the lows, the 'volume' of trade at prices across the grid etc.

I can tell, from a glance, where price is likely to stall, break and target. It's pretty accurate... perhaps I should write a book!
"I made all my money by selling too soon"
  • #158
  • May 18, 2010 5:25am May 18, 2010 5:25am
Filled
Cable - Long 1.4438/TP +100/ST ~30 (10 contracts)
"I made all my money by selling too soon"
  • #159
  • May 18, 2010 5:38am May 18, 2010 5:38am
Quoting Bleek
Filled
Cable - Long 1.4438/TP +100/ST ~30 (10 contracts)
Stop moved to B/E.

Set alarms so now I can walk away and not worry until I get a text.
"I made all my money by selling too soon"
  • #160
  • May 18, 2010 5:40am May 18, 2010 5:40am
Quoting Bleek
I use a method I've developed called 'constipation and fill' which looks a little like a sudoku puzzle, it's a chart of price activity over the hour, the highs, the lows, the 'volume' of trade at prices across the grid etc.

I can tell, from a glance, where price is likely to stall, break and target. It's pretty accurate... perhaps I should write a book!
"over the hour" ?? Are you referring to the previous hour or do you look at specific hourly periods going back days, weeks.......
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