bakedbeans' learning journal

[aliassmith]

Eval accounts update:

Bulenox: Net +0.32%, 3.22% cumulative, target 6%
Apex: Net +0.31%, 5.45% cumulative, target 6%

Not a terrible session - I realised there was a grind higher and that today was low-volatility session, so I took smaller moves on larger size.
Still, I flip-flopped between 0.10% and 0.30% up for session, but happy to recognise the behaviour and trade accordingly.

I did think we would pull back towards the magic vwap line for the session towards the close, but we didn't; persist buyers in the market and size trading.

The returns based on the fictional account values are good. Apex is close don't bet the house for .55%

[bb01100100]

Yes! I am not thinking of heroics, just another couple of days’ worth of trades…

My ideal case is finishing a session and seeing I’ve crossed the line.

[aliassmith]

Yes! I am not thinking of heroics, just another couple of days’ worth of trades…

My ideal case is finishing a session and seeing I’ve crossed the line.

No update? Hopefully you are still moving along.

[bb01100100]

Hi Alias,

Every day has been a max down day, so I’m struggling to get my execution on track.

I blew the Bulenox account and am focussing on Apex now.

There are lessons I need to take to heart and so I’m keeping my head down and trying to return to consistency.

I run my charts in my local time zone so didn’t realise daylight savings change from Sunday meant I was starting my sessions an hour earlier in the US afternoon session.. that might explain the crazy chop I was experiencing, but how I dealt with losing has been the real cause of my losses.

I have rithmic stop me out at a dollar loss level; but it feels like a weak move/giving up and I stew about it all day… how have you seen other traders approach and deal with multiple losing trades that lead to losing days?

I suppose I’m asking “what does a good trader do when the day goes wrong?” because I need to drastically improve how I handle losing.

[IgazI]

Hi Alias,

Every day has been a max down day, so I’m struggling to get my execution on track.

I blew the Bulenox account and am focusing on Apex now.

There are lessons I need to take to heart and so I’m keeping my head down and trying to return to consistency.

I run my charts in my local time zone so didn’t realize daylight savings change from Sunday meant I was starting my sessions an hour earlier in the US afternoon session.. that might explain the crazy chop I was experiencing, but how I dealt with losing has been the real cause of my losses.

I have rhythmic stop me out at a dollar loss level; but it feels like a weak move/giving up and I stew about it all day… how have you seen other traders approach and deal with multiple losing trades that lead to losing days?

I suppose I’m asking “what does a good trader do when the day goes wrong?” because I need to drastically improve how I handle losing.

Try and exist in a perpetual state of "where do I go from here"; it's not about today, but where you will be in the next several months or years.

The keys are:
- minimize risk (position sizing), maximize reward (position sizing)
- keep your analysis simple (can you explain it to a 12yo in a reasonable amount of time).
- adjust your strategy to how the chart is behaving
- even god fails in the short-term

see_do.png (18.09 KiB) Viewed 19519 times

[aliassmith]

Hi Alias,

Every day has been a max down day, so I’m struggling to get my execution on track.

I blew the Bulenox account and am focussing on Apex now.

There are lessons I need to take to heart and so I’m keeping my head down and trying to return to consistency.

I run my charts in my local time zone so didn’t realise daylight savings change from Sunday meant I was starting my sessions an hour earlier in the US afternoon session.. that might explain the crazy chop I was experiencing, but how I dealt with losing has been the real cause of my losses.

I have rithmic stop me out at a dollar loss level; but it feels like a weak move/giving up and I stew about it all day… how have you seen other traders approach and deal with multiple losing trades that lead to losing days?

I suppose I’m asking “what does a good trader do when the day goes wrong?” because I need to drastically improve how I handle losing.

Losing is different for everyone. If it bothers you a lot try trading demo/sim for awhile then go back to trading live but small. Even take a day off and not do anything trading related.

Having rithmic stop u out is a good move. Having a specific daily max loss is good.

[Don_xyZ]

Hi Alias,

Every day has been a max down day, so I’m struggling to get my execution on track.

I blew the Bulenox account and am focussing on Apex now.

There are lessons I need to take to heart and so I’m keeping my head down and trying to return to consistency.

I run my charts in my local time zone so didn’t realise daylight savings change from Sunday meant I was starting my sessions an hour earlier in the US afternoon session.. that might explain the crazy chop I was experiencing, but how I dealt with losing has been the real cause of my losses.

I have rithmic stop me out at a dollar loss level; but it feels like a weak move/giving up and I stew about it all day… how have you seen other traders approach and deal with multiple losing trades that lead to losing days?

I suppose I’m asking “what does a good trader do when the day goes wrong?” because I need to drastically improve how I handle losing.

There are 2 ways to get yourself comfortable:

1. lower your lot size until even your biggest loss (percentage-wise) means nothing.
2. numb your sense that even your biggest loss (nominal) means nothing.

Which one is good for you? Coz each path will lead to different end result.

[bb01100100]

Hello; I'm taking a couple of days off live trading... this morning I traded sim since I noticed the volatility was back.

I've been looking over my trades and blog entries and I've noticed a pattern of being stubborn in two ways:

• Stubborn when i'm wrong, e.g. repeatedly buying lows or selling highs because I expect something to happen.
• Stubborn when i'm right, e.g. holding a trade that's up 2+ points all the way back to flat, or exiting half and letting it run -2 pts because I expect "more" from the move.

So I have some things to work on.

I've also decided to try two new things (in sim for a couple of days), as a way of limiting my options and addressing my habit of fighting the market:

1. I draw a line in the sand from the open of the 12pm ET candle; when I come along at circa 2pm if price is above that LiS I'm long only and vice versa. This is about building discipline and building trust in the bias for the time being.
2. I have a 30 period 1-minute ATR on my 1 min trading chart.. I will take 1 RR trades based on the size of the ATR when I enter. This is about waiting for better entries and it will make me think harder about zlines, congestion and placement. I tend to flip-flop between being up and down on any given day, so I'm using this as a way of getting more relaxed at repeated execution. Only one trade at a time, no adding, 3 lots on / 3 lots off; no changes in size. I expect this is going to be frustrating

I appreciate the feedback from everyone and aim to get back on form again by remaining involved and iterating.

[aliassmith]

Hello; I'm taking a couple of days off live trading... this morning I traded sim since I noticed the volatility was back.

I've been looking over my trades and blog entries and I've noticed a pattern of being stubborn in two ways:

• Stubborn when i'm wrong, e.g. repeatedly buying lows or selling highs because I expect something to happen.
• Stubborn when i'm right, e.g. holding a trade that's up 2+ points all the way back to flat, or exiting half and letting it run -2 pts because I expect "more" from the move.

So I have some things to work on.

I've also decided to try two new things (in sim for a couple of days), as a way of limiting my options and addressing my habit of fighting the market:

1. I draw a line in the sand from the open of the 12pm ET candle; when I come along at circa 2pm if price is above that LiS I'm long only and vice versa. This is about building discipline and building trust in the bias for the time being.
2. I have a 30 period 1-minute ATR on my 1 min trading chart.. I will take 1 RR trades based on the size of the ATR when I enter. This is about waiting for better entries and it will make me think harder about zlines, congestion and placement. I tend to flip-flop between being up and down on any given day, so I'm using this as a way of getting more relaxed at repeated execution. Only one trade at a time, no adding, 3 lots on / 3 lots off; no changes in size. I expect this is going to be frustrating

I appreciate the feedback from everyone and aim to get back on form again by remaining involved and iterating.

Sounds like a good path to me. You don't have to aim for the stars. An average of 20points in the /ES each week is good money. 1 contract on a $50k account is plenty during the eval.

Edit: 60+ points a month is actually good. 20/ week might have been a little overzealous.

[bb01100100]

Sounds like a good path to me. You don't have to aim for the stars. An average of 20points in the /ES each week is good money. 1 contract on a $50k account is plenty during the eval.

Edit: 60+ points a month is actually good. 20/ week might have been a little overzealous.

yeah i thought "hmm.. 5 pts a day might be a little too much for me... I'm no Alias!"

I've averaged 3.25 points, so I figure if I can get consistent at ~3, then I can build from there (either more size or a little more distance; both, over time).