Visualize

In  my visualization i have 2 trades, i have to do the following before i trade

1.Forgetting Previous Trades: (one trade has nothing to do with my next trade.The market certainly does not take into account how I traded in my previous trade)

Picture in my minds eye, i am sitting before the laptop and on the screen i can see the trade i did previously and i am noticing the colorful header on the browser which says IG markets as i am observing the details so are the colors fading away and they are fading away continuously now i can hardly see the letter and numbers now i cant even see the title bar.It is also simultaneously fading away in my memory all of a sudden  i see a very white bright flash before me like a camera flash and i am presented with a pure white screen. I see my self in my mind theater and seated in a chair all alone in the theater and there is only one chair in the whole of theater made of leather and run the above movie fast.

I can use this for Winning/ Loosing trade.No matter it it was a winner, loser, or a break even trade.I still need to forget it and move onto next one.No matter what happened we can’t change the past.we only need to keep our mind clear to be productive

2.Windfalls/Stop-Loss:Picture in my minds eye, i am sitting before the laptop and on the screen.Remember how you got your account to 3000 in IG for the first time.Feel that confidence again in you now magnify that confidence 10 folds of if i cant find confidence here find some thing i am confident at even if its as little as even lifting pen and then shift your minds eye to this trade.

You see yourself looking at the charts and looking for opportunity, you know that this is the time you look at all your indicators and trading plan every thing fits in.You open the brokers accounts and enter the trade with out hesitation.You can see the blue on the screen and keep trailing your stop loss appropriately.You can see that you have exited the trade with large amount of profit.

Now you again go through all the charts for opportunity and when you see one on the chart you enter the trade and i can see this time i am very defensive and very tight stop loss , this trade i have given little or no room for error as i want to hold on tight to my profits.The trade is running so close to my Stop loss i can see i might be taken out of the trade any time.I am waiting there with my Stop Loss and i can see i believed in my analysis and i want to stick on to it.No matter what my will and focus is fixed i can see i am determined to have a tight grip on my profits and follow my plan.

Case1:

The trade went against me switch to Forgetting Previous Trades

Case2:

The trade went  well switch to windfalls/stop loss

Visualize Draft

 

 

In  my visualization i have 2 trades

 

1.Forgetting Previous Trades: (one trade has nothing to do with my next trade.The market certainly does not take into account how I traded in my previous trade)

Picture in my minds eye, i am sitting before the laptop and on the screen i can see the trade i did previously and i am noticing the colorful header on the browser which says IG markets as i am observing the details so are the colors fading away and they are fading away continuously now i can hardly see the letter and numbers now i cant even see the title bar.It is also simultaneously fading away in my memory all of a sudden  i see a very white bright flash before me like a camera flash and i am presented with a pure white screen. I see my self in my mind theater and seated in a chair all alone in the theater and there is only one chair in the whole of theater made of leather and run the above movie fast.

I can use this for Winning/ Loosing trade.No matter it it was a winner, loser, or a break even trade.I still need to forget it and move onto next one.No matter what happened we can’t change the past.we only need to keep our mind clear to be productive

2.Windfalls/Stop-Loss:Picture in my minds eye, i am sitting before the laptop and on the screen.Remember how you got your account to 3000 in IG for the first time.Feel that confidence again in you now magnify that confidence 10 folds of if i cant find confidence here find some thing i am confident at even if its as little as even lifting pen and then shift your minds eye to this trade.

You see yourself looking at the charts and looking for opportunity, you know that this is the time you look at all your indicators and trading plan every thing fits in.You open the brokers accounts and enter the trade with out hesitation.You can see the blue on the screen and keep trailing your stop loss appropriately.You can see that you have exited the trade with large amount of profit.

Now you again go through all the charts for opportunity and when you see one on the chart you enter the trade and i can see this time i am very defensive and very tight stop loss , this trade i have given little or no room for error as i want to hold on tight to my profits.The trade is running so close to my Stop loss i can see i might be taken out of the trade any time.I am waiting there with my Stop Loss and i can see i believed in my analysis and i want to stick on to it.No matter what my will and focus is fixed i can see i am determined to have a tight grip on my profits and follow my plan.

Case1:

The trade went against me switch to Forgetting Previous Trades

Case2:

The trade went switch to windfalls/stop loss

 

 

 

 

 

i go to prorealtime and filter based on my conditions i get few stocks and i do my analysis on themi place an order and i can see its in orders to open.The market opens order gets executed and i can see every thing in blue and my account is growing by x dollars each time i close it.

i check dow and all ord and i see which direction its trading clearly.I look for an opportunity to get in macd cross and RSI value now i am placing an order i can see the value in red but i can see myself confident in me as it didn't hit my stop loss and wait for it to turn blue and these i can clearly see the blue and the value increasing.

 

when do u panic?

I put a trade and see its going in loss it looks like i panic if my loss is more than 100 dollars, at 75 i start building up

 

 

Follow the Plan with Risk Management

Dealing with Loss-If i have more than 3 consecutive loss

handling panic attack

identify revenge trade

Maintaining calm

identify anger at market or at me

Before that i need to define process, then i can use the following

1. Filtering

I can see my self sitting down in the chair with a pad made up of teak,i place the laptop and start the windows, now i am starting the prorealtime 

and i can see the charts bright and clear and able to identify patterns nice and clearly

I can see there is no wishful thinking and only reading the charts to what its telling me.

There should be no difference between $2 and $25 contracts

$5 contracts

i can see my self getting out of winning trades and 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.Portfolio

 

3.Closing a position

FILTER

    I wont manually scan charts with my eye as this is overwhelming with so many charts and i am not able to focus on the real ones.

Here how the proscanner (IGMarkets/Prorealtime) or Exploration(Metastock) should be from now on.

BULL scanner:

-MACD crosses above signal

-RSI<=30

-volume >1.5 times MV(50,vol)

Bear Scanner

-MACD crosses below signal

-RSI >=70

I have to go through ProRealtime Strategies

Internal Conversations

-Today i saw oz 200 trading in at 3240 i didn't  see the chart but i my conversation was “it has gone up too much its a bear market it has to come down and i did short on 3240” now when i am running in loss (position is ongoing) i am thinking “why i didn't see the chart when i bought it could be consolidating”

-Now that i am seeing 433 profit in demo Trading i am getting tempted to trade my real account tom but i should not be doing it yet.

-As 3 of my trades are showing  profit i can see my confidence growing and i am not sure if this is over confidence

 

-Rule: Never trade without seeing the chart

-Rule:While scanning don't look for chart like say “today market is down or now a days market is down i will short and if you start looking from that angle even the chart is bullish you will try to find bearish opportunity in that.

TO DO

clean the blog

Categories:

- Technical Analysis

- Trading Plan

- Filtering-Thoughts while filtering

-Thoughts on field

Trade

keep what's required

just do it

less info i have the more i can focus

plan the journal

Less stocks i have the more i can focus

Develop a system to handle watch lists

Scanning process on 10th March 2009

Observations:

Not spending too much time on a single stock, leaving it indecisively

*** i think i should use filters as this will help me to narrow and focus of my energy on a small area.***

 

 

 

 

Phase 1

 

Rejected

AOE:

Forming a symmetrical triangle i have to wait

 

AWB:

dropped too much looks like consolidating

 

selected to short;

ALL –

+ its at 3.4 which has broken support from 2004

- i found the stock was consolidating and volume is higher on price high days.

 

AMC

+stock still has gravity and volume is in support

-MACD is at the end of downtrend

-RSI is in oversold region

ANN:

+consolidating after big drop

-MACD is positive

 

BXB

CTX

ERA

Explorations

 

 

 

 

 

Candlestick Exploration-Bearish

Imp dont loose

Technical Analysis is crucial buttyfy that and follow any good trader with live charts and understand why he traded that way why he had those exists.

Please listen to nice audio at trader interview by

2009-02-17 Online Currency Trading Strategies

http://feedproxy.google.com/~r/TraderInterviews/~5/xFBy2coPOZU/TI_2009-02-17_WayneMcDonell_online-forex-trading.mp3

http://www.tradingpsychology1.com/overcoming-fear-of-success.html

 

Doing Live trading of Australia 200 cash

-Dont buy or sell with our MACD cross over

-MACD histogram bars should be long and if its been bull for a long time(check stoc and RSI before u enter)

-U need volume for it to show correctly

 

today i lost half of my account

i double my size and all my trades were going against me and winners were small and losers were really big

i am scared now my hands are shivering and i don't think i can take any more trades

the market was too volatile what ever i do i couldn’t win

now that my account is 80% down i need to make sure

i trade $5 mini contracts

if i have 3 continuous losses i wont trade.

dont go after the market with the revenge feeling

i am aiming to get back every thing i lost

Now the market opens at  5:10pm my goal is to stay alive and trade

i have no regrets and revenge with market

Day2 i did 2 trades

What i observe red i am not calm and long term timeframe always is right

i am looking at 1 min and panicking

not sure if this is for me i need to take a break before i can think

What i Need to trade

I have indicators oscillators

trend lines and triangles

Position Size

data

Explore IG markets

Explore commodities in IG markets

US accounts-Post Pone

I will think of target price  later in the future so this will bring risk to reward ratio to the future as well

i am trying to sign into prorealtime

observations MACDH when the middle bar is high or the next bar is less trend is loosing  strength

RSI should have an angle of trend direction

i observed more money is getting involved my emotions are amplified

while i was trading $5 contracts i was at peace and easy with my position

Well done praveen what i did i took a mini contract with 10 point stop loss

so stop loss is at $50 and it moved against me till $30 loss but i didnot panic as it was a small loss if it was $25 my loss would shown upto $125 and i would have paniced

i let it run with profits and raised my SL to1 point more than i bought this way i wont be at loss

finally when MACD was weakening i exited at $25 profit

First thing i have to see is, can the indicator  listen to market it looks like if it had listened to it yesterday need not be it will listen today

 

 

 

 

 

 

 

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SteveCarnish

 

try not outthink the signals

 

While watching the video feels like i should do back testing

have a look at the equity curve in backtesting

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Look for trading practice account

 

set the goal

setup reach our goal

 

Have a system that address all the areas of my trading this will remove lot of emotions and the have a trading practice account

 

Webinar

EQUIS Shawn Lucas

imp don't loose-2

i don't think live trading is for me  i am praying

my hands are shivering

i am praying its my master who is doing this

there is a sense of weakness in me that i can observe

i am waiting i did put on tv to divert myself

i am watching US spx 500 as its moving along with aus 200

i did see bloomberg bearish first and then thought market is bearish so wanted to short but in fact spx and dow were trading bull i didn't know what i analysed

Lesson-don't go against with indicators cost 400

all these mistakes are from my prev trading i am not learning

i should stop doing the self talk of buying auz 200 i am not ready and its dangerous

Observe for doubt in your mind when in doubt don't trade

i think i am trying to catch tops and bottoms

Learning Path

1.Summarize psychology and how i can use it in my trading.

2. Jhon Murphy Book and try to find examples of each pattern in metastock

3. Create Rules and Blog for journal

 

 

 

I am planning to Use MA,OBV,ADX,RSI,MACD-H

Next- Patterns and TrendLines

Position Size

 

MA

MACD

MACD-H

GMMA

Bollinger Bands

RSI

ADX

Stochastics

 

 

 

Read trend lines in

Technical Analysis for the Trading Professional

By Constance M. Brown

Stochastic Oscillator

 

 

 

 

In volatile markets, the daily indicator tends to be the most useful and reliable, but I always look for confirmation from other indicators like the weekly stochastic and MACD and where the stochastic is relative to the overbought and oversold zones.

Notes from Internet or Books or webinar

Disciplined Trader-Ex1 Beliefs

These are the questions i asked my subconscious(i couldn't really go into deeper conscious but here are the results to the best of me)

Q.Why are you not Trading?

A: I am afraid i might Loose.

Q:What will happen if i loose completely?

A:I cant find any other goal worth living for.

Q:Do you think u have the skill set to trade?

A:Yes i have 80% of the skills required for trading

Q:Which picture is stronger Trader or a S/W programmer?

A:I can a see a stronger picture of a me being a trader.

Q:Are you afraid to be rich?

A:I see myself as bad to be rich as people will be jealous of me and might start hating me.

Do you believe in competition

yes competition exists in trading competition is with in me ; me vs me competing with conscious decision to impulse and psychology

What do you think of taking money from other people as a result of superior trading skills.

I don't agree with this question i am taking money from market or giving to market;If i am taking in today i believe i will give it back to market.I am giving back because i believe its not my money.

What will happen if i dont give it back

I feel guilty to use that money.

What do u feel about losses.

Opportunity to give money to market and not feeling guilty.

Yes i do feel market owes me money after a series of losses.