Australian (ASX) Stock Market Forum

Pull ya DAX up!

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ThingyMajiggy said:
Yeah I know what he means, my question is how do I do that? Especially when I can only view one session at a time with no history, and back to my question....

Do I print out say 5 min charts and put all the ones that look the same(morning reversal, gap down, up, trend days) together and somehow that makes me profitable? Because replaying single day's back and farting around with stupid indicators/volume/S&R clearly isn't the way forward.
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Well I guess in that case, assuming you have access to historical data, you can use that to plan the trading session....what you think the possibilities are. Then, without looking at what actually happened, download the replay data and see how it plays out against your hypothesise and levels....

Have one workspace for the replay and one for planning. Use some longer term charts. Take note of some of the key levels around old ranges. The longer the market spends in those ranges the more significant the centre, highs and lows of the range will be.

When you specify what to replay, you should be able to start the replay at the first of the week and go right through, speeding up to 500x for over night in active periods.

Let me know if you need some help. I'm in Australia so I can Skype with you if you need some help with ninja.
 
ThingyMajiggy said:
Yeah I know what he means, my question is how do I do that? Especially when I can only view one session at a time with no history, and back to my question....

Do I print out say 5 min charts and put all the ones that look the same(morning reversal, gap down, up, trend days) together and somehow that makes me profitable? Because replaying single day's back and farting around with stupid indicators/volume/S&R clearly isn't the way forward.
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May be another way thinking of it... using tennis as analogy. You need to practice serves, topspin forehand, slice backhand, cross court backhand, defensive lob, overhead etc etc. You need these to become a skillful player... and practice involves repetition. You keep practicing those backhand, even though you know your coach is giving you a backhand to hit. Then over time, you develop the muscle memory to hit the backhand in real time...

Let's say you have a collection of 15 strong trending days. What if you trade them again and again on the sim, with the full knowledge that it's a strong trending day? Would that be useful? Would you start to see something that happens in strong trending days that you may not realise beforehand? May be in time, you will start to recognise those in real walk forward and be able to capitalise when you are presented with the same pattern?

I don't even trade futures so what I am saying may or may not work... but at least it's a different approach to just sit and watch.
 
skc said:
May be another way thinking of it... using tennis as analogy. You need to practice serves, topspin forehand, slice backhand, cross court backhand, defensive lob, overhead etc etc. You need these to become a skillful player... and practice involves repetition. You keep practicing those backhand, even though you know your coach is giving you a backhand to hit. Then over time, you develop the muscle memory to hit the backhand in real time...
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Perfect analogy. In fact was going to put just that yesterday but was out and about typing on my phone.

skc said:
Let's say you have a collection of 15 strong trending days. What if you trade them again and again on the sim, with the full knowledge that it's a strong trending day? Would that be useful? Would you start to see something that happens in strong trending days that you may not realise beforehand? May be in time, you will start to recognise those in real walk forward and be able to capitalise when you are presented with the same pattern?

I don't even trade futures so what I am saying may or may not work... but at least it's a different approach to just sit and watch.
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:xyxthumbs
 
Ahhhh the old chicken and egg

Staring at the screen is of limited use and has diminishing return on time invested.

So you should have razor sharp focus on the plays you have in your play book.... which you dont have yet haha :rolleyes:

I love this game
 
fiftyeight said:
Ahhhh the old chicken and egg

Staring at the screen is of limited use and has diminishing return on time invested.

So you should have razor sharp focus on the plays you have in your play book.... which you dont have yet haha :rolleyes:

I love this game
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There is probably 6 types of markets that continually reappear intraday in equity indexes. If you cannot figure out that after a few years of looking at the screens then I would say with certainty you should start thinking about another hobby. Once you can read what type of market you are currently looking at then the hard part begins - leaning to trade them.
 
my run of going ok continues. mixing 5min with 1min helps when taking 1 min trades.

couple losses tonight but last trade made the day.

same idea following trend looking for turns to by and sell. last trade of 5min.

5min and 1min, attached, personally feel i over traded a bit tonight on LON open...
 

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found 5min ents dont go so well in he first hour lost all of them. 1 min still strong.. found few hours after the open the 5mins start to work a bit better.

still using ninja to pick my ents off the 1min.
overall 5min trades lost for today.

very decent night on 1min +21pts lost 18 on the 5min
 

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Lon session today. hit a lucky 15min entry got 23 out of it...

1min hard a very nice session but made one mistake that cut the 10 to 5,made another silly short that worked. called it a day then as staring to be dumb. missed a few due to be scared and in dumb short.. bad trade was a short thinking the high was found.. rookie mistake a on a charging DAX. (follow the money)

made some 5min trades tonight but same as last night loss overall. no idea why i can make cash on 1min but struggle on the 5 min
 

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ThingyMajiggy said:
Nah, turns out I'm too stupid for trading.
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Sam, it takes time and patience to find what works for each individual and that will most likely include winning times and losing times and it can take years for some. Maybe replace your avatar with something more positive - that one makes me feel hopeless every time I see it :D I doubt it will fix everything but could be a good start to something more positive :)
 
sails said:
Sam, it takes time and patience to find what works for each individual and that will most likely include winning times and losing times and it can take years for some. Maybe replace your avatar with something more positive - that one makes me feel hopeless every time I see it :D I doubt it will fix everything but could be a good start to something more positive :)
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I love my avatar, makes me laugh every time :D Pretty much sums up my experience of trying to trade rather well, everything I try is wrong so I might as well have been doing what my avatar is for the last few years. :D
 
Sam

I've met you.
Your not stupid.

You need to GET IT.
This is what your struggling with.

I also believe your undercapitalised for trading the DAX.
$35 a tick and needing 5k to float the swings is at this point
probably a sticking point for you in your psyche.

Try something in the eminis at $1 a tick.
Or trade something like the smalls Im doing the exercise on.
Pick up a few K and gain confidence without panicking about loss.

You have to learn to embrace being wrong---learn how to
benefit from it---you'll be here (wrong) very often.

Get your head around what makes things move in the direction they do.
And there are many Macro and Micro things that do this.

Ill keep posting you charts when I'm trading to do as much as possible
as close to real time as I can.
I note that like most you tend to fight the trend---always looking for the turn.
Change that thinking most instruments don't alter long term direction mid session
and if they do its GLARING.

Don't give up Sam
Its something that when you GET IT----you'll have for life!
 

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