T's Journal

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tmanbone
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T's Journal

Postby tmanbone » Sun Feb 07, 2010 6:17 am

After finding TRO on another forum that eventually led me here, I've decided to pursue fx. I've been reading a fair amount of what is contained in the Kreslik forums, among others. The threads read, here at Kreslik, in no particular order are: NLA, DTB, $Trillion Strategy, MO's MBT Micro, MO's Weekly Crash Zone, Lukx, Cfabian, & Adaseb ZLines, Ninja Platform, Why You Lose at Trading, Blubbb's Free Indies, ProCharged's Trilogy, Buy Zones, Blind Mouse Strategy, Signal Bender, TRO's E Book, the list goes on.

I want to keep a journal for accountability. A thread that can be monitored on a daily basis. A place to reflect on where I've been to help me see where I'm going.

God Bless you TRO, God Bless us all.

You may see different trade plans, throughout the thread, as I evolve, they will change, the most current trade plan will always be here:

Trade Plan REV-5

Trading Sunday e.s.t. gaps, intraday working on rat trade lines.
Max risk = 1% of account balance.
Write down plan on every trade.
Print chart of every trade, mark up with notes.
Never make the same mistake twice.

Attachments:

ROI Calculator
Excel position sizing calculator

?I am your constant companion,
I am your greatest helper or your heaviest burden.
I will push you onward or drag you down to failure.
I am at your command.
Half of the tasks that you do you might just as well
Turn over to me and I will do them quickly and correctly.
I am easily managed. You must merely be firm with me.
Show me exactly how you want something done.
After a few lessons, I will do it automatically.
I am the servant of all great people
And the regret of all failures as well.
Those who are great, I have made great.
Those who are failures, I have made failures.
I am not a machine but I will work with all its precision
Plus the intelligence of a person.
Now you may run me for profit or you may run me for ruin.
It makes no difference to me.
Take me, train me, be firm with me and
I will lay the world at your feet.
Be easy with me and I will destroy you.
I am called Habit?

Author Unknown
Attachments
ROI Calculator.xls
(16.5 KiB) Downloaded 17 times
Position Sizing.xls
(23.5 KiB) Downloaded 21 times
Last edited by tmanbone on Sun Oct 24, 2010 11:31 pm, edited 22 times in total.
"The simplicity of the markets is it's greatest disguise"

T

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TygerKrane
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Postby TygerKrane » Sun Feb 07, 2010 2:09 pm

Congratulations, Tman, on embarking on this amazing opportunity that is available to us all.

Thanks to pineapples comments yesterday, I actually just discovered the $Trillion Strategy when it appeared at the top of the list, its an amazing read that I'm making my through now. I am starting to ingrain the concept of not letting my EGO interfere with just using the information here as it is presented.

Again, wishing you a speedy success.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Postby tmanbone » Sun Feb 07, 2010 4:59 pm

The Trade Plan: The Buy Zone

Trade the Daily Buy Zone
Trade only the E/J
Trade only long.
Trade 1800 est - till
Sun - Thurs
Use proper money management.
Stop trading when? Food for thought after newschool brought something to my attention
Won't trade if not focused.
Always read this plan before trading.

Read daily.

Fundamental Truths

ACH
You don't need to know what's going to happen next in order to make money.
There is random distribution between wins and losses for any given set of variables that define and edge.
An edge is nothing more than an indication of a higher probability of one thing happening over another.
Every moment in the market is unique.

I am a consistent winner because:

I objectively identify my edges.
I predefine the risk of every trade.
I completely accept the risk or I let the trade go.
I act on my edges without reservation or hesitation.
I pay myself as the market makes money available to me.
I continually monitor my susceptibility for making errors.
I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

Mark Douglas-Trading in the Zone
Last edited by tmanbone on Sat Mar 20, 2010 5:26 am, edited 9 times in total.
"The simplicity of the markets is it's greatest disguise"



T

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Postby tmanbone » Sun Feb 07, 2010 5:04 pm

TygerKrane wrote:Congratulations, Tman, on embarking on this amazing opportunity that is available to us all.

Thanks to pineapples comments yesterday, I actually just discovered the $Trillion Strategy when it appeared at the top of the list, its an amazing read that I'm making my through now. I am starting to ingrain the concept of not letting my EGO interfere with just using the information here as it is presented.

Again, wishing you a speedy success.


Welcome Tygerkrane. Thank you for the wishes. Feel free to interact as you please. If I can help, don't hesitate to ask. Here's to your success also. :smt023
"The simplicity of the markets is it's greatest disguise"



T

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newschool
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Postby newschool » Sun Feb 07, 2010 7:44 pm

tman, do you really have an edge ?
If you do have one, why stop yourself in a looser day? That would be avoiding possible winners.

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Postby tmanbone » Sun Feb 07, 2010 8:33 pm

newschool wrote:tman, do you really have an edge ?
If you do have one, why stop yourself in a looser day? That would be avoiding possible winners.


Welcome newschool, my thinking at this point is capital preservation, while in the learning mode. Since I'll be trading demo why should I be concerned? The objective is to learn to trade, with money management being part of the process. The plan will evolve. I'm open to any and all suggestions. Thank you,
"The simplicity of the markets is it's greatest disguise"



T

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newschool
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Postby newschool » Sun Feb 07, 2010 10:52 pm

We both have 100$ and we play at heads vs tails.

If it lands on tail, you give me 1$. If it lands on head I give you 1.10$.

How many times do you wanna play?

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Postby tmanbone » Mon Feb 08, 2010 2:32 am

You'll be out of money around a 1000 flips. Can you find any more $100 bills? If so I'll play indefinitely.
"The simplicity of the markets is it's greatest disguise"



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newschool
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Postby newschool » Mon Feb 08, 2010 3:26 am

Yes because you have an edge.

So once you have that, I dont understand why someone would stop trading on a particular day, especially if you are loosing since in the end you might only be skipping your winning trades !

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Postby pablo101 » Mon Feb 08, 2010 3:35 am

Yes, I agree with newschool, overtrading is killer but if you see a setup that fits your plan, trade it. Edge and MM not how many times you trade is the key.

Thanks for starting this, this journal sounds like something I can learn from. Tmanbone, do you mind sharing your edge, what's criteria you rake a trade and exit a trade?
What line? The line that tells you which way you are trading! - MO

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