Skipper's demo trading notes - How it went and what was learned?

Discussion in 'Trading Journals' started by Skipper, Oct 4, 2013.

  1. Tansen

    Tansen Well-Known Member

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    FUCK! Then the bear strikes Lol. I was short got stopped out +1 pip then... well look at it lol I would of nabbed 2/3 of that swing.
     
  2. Skipper

    Skipper Demo trader - Learning everyday

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    It was a nice reaction in the direction I was trading it. Nevertheless It was a sharper cut down @1.38100 than I anticipated :drinking: Times like these are good examples for that "conservative" manner I should have when it comes to profit taking. Was learning a lot today and it was fun ;)
     
  3. Tansen

    Tansen Well-Known Member

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  4. Skipper

    Skipper Demo trader - Learning everyday

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    I think you nailed it :lawl:
     
  5. Skipper

    Skipper Demo trader - Learning everyday

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    Now.. going back to ICT episodes starting from the first one. I have learner a lot and have some experience using the tools, but there is a bigger picture I need to understand.

    1. I need to focus more on the directional bias and maintain it in my trades

    2. What I need is a solid understanding where and when price is truly turned and what's going on internally. Even if I know where the higher time S/R are I'm not yet so experienced to define actual turning point and make use of it
     
  6. Tansen

    Tansen Well-Known Member

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    Don't completely listen to me, because I am usually not there to see the thought process of when you get into a trade however I recognize the same problem I dealt with and I will attempt to save you some losses with two words: Market Structure.

    ;) again, do your CSI on your trading before you take my opinion
     
  7. Piper

    Piper Guest

    In my opinion, the answer is divergence.If you learn to see it,on any momentum indi ,the real turning points will almost never avoid you.
     
  8. Skipper

    Skipper Demo trader - Learning everyday

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    That's what I'll do. Trying really hard to make my own mistakes and maybe some right decisions as well, thanks for this :D

    What time frame you utilize to see these in action, maybe daily or 4h? I'm using Stoch at the moment and try to keep everything nice and clean.



    At the moment I'm reading a Trading For A Living - maybe it helps?
     
  9. Piper

    Piper Guest

    It's all depending on your style. Stoch is cool for that. If ur into 3x screen than the highest tf should be utilized for momentum. Otherwise, whatever you are trading i think.
     
  10. Skipper

    Skipper Demo trader - Learning everyday

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    It was a day in hell at work :mad:

    I really like to see my efforts pay me some day. Was studying price movements candle by candle most of the weekend, reading and watched some ICT episodes again. Now on I'm trying to focus those golden setups, if I can find them? Patience, patience... and more patience... Have to be like "Lion In Zion".

    By the way, if you like to know more about bells and toys in your trading tools Trading For A Living made a good explanation of those. Maybe too much indies for my like, but still a good reading.
     
  11. Tansen

    Tansen Well-Known Member

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    No I know the feeling I got stopped yesterday twice because I made two general mistakes, Firstly the Asia range was > than that of 30 pips and therefore the signal should be an asian session entry. However with that said we were at the mid point for two key levels and the DX was at a previous high which should of signified a rally. Minor or major but rally in general.
     
  12. Skipper

    Skipper Demo trader - Learning everyday

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    "As a comparison, what are the emotional differences between trading an account that has no
    outcome versus trading an account where winning or losing bear material consequences? The
    consequences of W/L outcome of a trade will impact your emotional state. This can become
    a challenge if you have not developed the ability to accept the emotional impact of outcomes
    weighed on opposite ends of the spectrum."
    (http://www.chrislori.com/Blog/August-2013/Valuable-Lessons-from-the-Days-of-My-Youth)

    Must like this! It layout my future challenges when I'm ready to go live. Well, positive thing is there is some similaritys the way I was growing as a kid. One thing though ... Never wanted to win anything, hated all the competition even when I was good at something. Did not want to beat anyone when I know how sore losers they are, much easier that way ??? Now, is that making me a good loser already 8)

    Hoping to see my setup forming in few minutes..
     
  13. Skipper

    Skipper Demo trader - Learning everyday

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    If we are going up this might be a good setup?

    [​IMG]
     
  14. jack

    jack Administrator Staff Member

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    That the Euro? Which timeframe is that chart? Just wondering.
     
  15. Skipper

    Skipper Demo trader - Learning everyday

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    Sorry, poor image quality. It's 4h

    Not bad, near sweet spot and nice support level
    [​IMG]
     
  16. Skipper

    Skipper Demo trader - Learning everyday

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    Story so far

    For the past weeks I have made some experiments and trading exercise following ICT Scope sniper concepts. After shooting here and there, I have little by little come to understand the important of higher time frames S/R levels and how those leads to good trading setups, even though the “natural” desire to trade more actively is trying to lurk in the corner. What I have find difficulty at the moment is how to transform my daily life and routines to support the idea of consistent trading. My day work is sometimes a bit hectic; also my current family situation (8 month baby boy) is not giving me much extra time for my trading efforts. This all mean some serious habit changing for me;

    1. I have to wake up more earlier so I can make my trading decisions
    2. Have to go sleep early so I have energy to wake early (I’m more like a night person, always been).
    3. In the evening I have to study charts and make my analysis for the coming days/ keep a track of the week
    4. Have to get tablet and learn to use it for my trading
    5. Keep up the slow phase taking trade setups
    6. Have to get a sport hobby so I can blow up some steam...trying to take care of trading study progress /family/house repairs and my daily work is really pushing me on the edge.

    I’m frighten that If I can’t make these routines and daily habits to work, there’s no way I can measure my progress in trading.
    I can study trading all my life; but I need to put this Demo account to work for me! There is no business going live before that.

    What else I can do…? Maybe another job that fits for this kind of goal, or is there any :ponder:
     
  17. Skipper

    Skipper Demo trader - Learning everyday

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    Made this order last night early on in Asia. See this filled around 13:00, it was getting near my stop. Still a bit unsure my tp.
    [​IMG]

    Moving to break even. Hard time in that support level... it's taking some time
    [​IMG]

    Taking half off from my position because of heavy support.. late night action
    [​IMG]

    End of game, was making right decisions
    [​IMG]
     
  18. Skipper

    Skipper Demo trader - Learning everyday

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    As a developing trader one thing have comes to my mind when analyzing my trades. Very often I see markets behaving as I was expecting, but too often I see it forming far later than I expected. So rushing in too fast is something I have to think about. This is obviously because I don’t yet have learned to understand the timescale and phase markets are moving. I hope this problem will solve itself in time.

    While spending my time to learn this monitoring live action, if you guys out there have some good reading about this or any thoughts about this please let me know. ;)
     
  19. Skipper

    Skipper Demo trader - Learning everyday

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  20. Tansen

    Tansen Well-Known Member

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    Nice 100 pip catch, 100 pip days are kind of uncommon at times, typically you'd have to get a NFP or Bernie Mac to say something to squeeze an extra 20 lol.
     

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