Failure to act on good setups (by good I mean FAMILIAR SCALP setup) - that's the worst kind of "fear" as far as I'm concerned.Was adamant about keeping my USD 250 gain on the day of the week that has historically been REALLY BAD for me - and I got what I asked for. I'm not happy, but I'll live with it - only for today.
I've taken care of the "discipline" part by limiting myself to trading just 2 signals once I see my setups - if I don't pull the trigger on these signals, something's wrong with me.
Am calling it a day.
1 trade and 2 missed opportunities....
%*#*^&*#!!!!!
I'll forgive myself.
I shall sleep well tonight.
8 comments:
A nice welcome back party for Jules. :P
Good job Jules. BTW, thought I'd let you know that your 5 min. ES charts show considerably different candles than mine. You likely have a time lag I would guess being overseas? Your 8:55am CDT bar, for example, shows a doji. Mine (on 2 different independant data feeds, esignal and my broker feed) shows that bar as Open 936.50, Close 935.25, High 937.75, Low 935.00. I doubt it matters much overall but thought you'd want to know. Cheers!
MVW, thank you :-)If only there were sushi... ;-)
MGH,
Yes, I noticed that when I first started using Sierra charts. The candles are different from TOS', and they are different from the ones I see on charts shown by other bloggers (who are using Ninja charts for instance). It actually matters to me coz the decision I make on whether to take a trade is very much based on what candles are formed and how they close in relation to open and in relation to the candles before them.
What bothers me too is that the candles moved differently from price movements on the price ladder on the AT platform. I am a little helpless on this as my TOS charts are sometimes out of sync with the price ladder too (but not as bad as Sierra).
That has prompted me to consider dropping Sierra. I actually can do without it after my backtesting on ES' intraday data from last Sept to this Mar.
I would appreciate any suggestion you have on what data feeds to use. I know that most professional traders use independent data feeds.
Thank you, MGH, for bringing this up. It's been an issue that's bothered me for a quite a while now.
jules, I use to use infinity with sierra charts and when i use to compare that set up with tradestation and ninjatrader, tradenaviagator, Sierra seemed to be in a world of its own. I'm using Ninja Trader with Mirus and very happy. You can also sign up for a demo with mirusfutures.com and get live feed and use infinity to execute the trades. I did this for some time to save a money while learning to trade. Hope that helps
Terry
Thank you, Terry. Am a little confused as to how all this feeds and trade execution thing work (am eternally hopeless in this dept LOL!), but will speak with my broker about Mirus charts.
Thanks a bunch!! Really appreciate it :-)
Jules, I use eSignal for charting and it runs me around $160/month for the emini data package. Not sure if they have a demo period but you might wish to inquire. Open ECry is my broker and I use their DOM mostly but also their charts. Normally these 2 feeds have identical charts but sometimes a bar's open, high, low, or close may be 1 tick different. Not a big deal for me. If you ever want a 5-min. chart from me for comparison, just email me and I'll send ya one. Good luck!
Thank you, MGH! :-) I'll check with my broker to see if he can help first. Gather if I'm going to continue to take the scalping route, I'll eventually need more reliable feeds...by the way, Ninja's charging 900 one-off lifetime fee...I have friends who are using it with IB, and so far they seem happy. But they're not exactly scalpers (although they seldom hold a position for more than 15 mins) so I'm not sure if their experience is relevant...
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