Thanks for visiting my journal. Advice and comments are welcome.
A big thank you to Mike for this web site.
I system tested numerous ideas for 25 years as a hobby. I have logged several thousand hours of screentime. It hurts to think about exactly how many.
I have been away from trading for a couple of years. I have recently started again.
I am looking to shift my trading to the next level.
My trading is scalpy but I want to stay in the trade longer (lol - if it is going my way).
I focus on the morning.
I have learned a lot but the really useful stuff I have learned relates to HH HL LH and LL as well as LL in an uptrend and HH in a downtrend.
Opening range, pivots and pivot range and then the standard patterns we all know and love, double tops double bottoms, flags wedges breakouts pullbacks....are useful to me.
I have indicators on my charts but i don't use them much. Price action is what i am constantly looking at.
I consider indicators as a two dimensional when the main price chart is closer to three dimensional.
For example the cci measures the vertical distance between price and a moving average. But you can't tell from looking at the cci if the current peak in price was higher than the previous peak in price (of the instrument being traded). But if you look at a chart with a sma/ema on it you can measure the distance price is from the sma/ema and measure the difference in height from one price peak to the next. So how helpful is the cci to me? Not much.
One irk in particular is when i hear someone who trains others tell the students that price will bounce off of a level because the indicator is overbought or oversold. The indicator is calculated from price, not the other way around and in a long trend an indicator can stay oversold/overbought a long time.
I have programmed in ninjatrader for a couple of years to make it do what i want (mostly) but I am not half as good as gomi, fat tails, wizard and some others.
I wrote some profitable trading systems (32% per year over 10 years) but I didn't like the drawdown of the systems i wrote.
I am mainly focused on the ES - this is where i have the bulk of my futures experience. I want to get to the point where i average one profitable trade per day based on discretionary trading.
All comments welcome. Feel free to blast away. Thanks in advance for taking the time to post.