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TradeQueen Daily Journal


I've gotten myself into something much deeper than I could of ever imagined.

While I've lost a ton, still I have no regrets for trying.

My goal set from this point forward is to slowly recoup my losses and continue to learn the tactics to gain advantages and become a successful day player.

The positive here is everyday I learn a wealth of information that can put me on track.

The immediate goal for tomorrow, Monday 5/9/11, is to minimize the surprises and find the better gains. Until then...
TQ,
Having read your previous post I think the best advice I can give you would be to find a mentor.....like a coach....someone who can instruct you how to "Turn Two"....then its just a matter of practice right.


Making money by trading is somewhat like softball...I think its more like basketball.....but we'll stay with that analogy.

-In order to be a good hitter you gotta do your cage work. How many at bats do you get during a game 2-3? maybe....gotta be prepared.
-You have to have discipline and intent when stepping up to the plate.....- Head still, weight back, eye on the ball,....no stepping out.
-Know what kind of hitter you are and wait for YOUR pitch.
-I've always thought it was better to be a good line drive hitter, cranking doubles and triples all day long......than an HR hitter.
-Turn and Pop!
-Most of all remember "Its a game!" you're supposed to have fun.
Ha! Great analogy! I can not express enough how much I appreciate your feedback!

Your sugarcoating though. I'm guessing this is a nice way of saying my last post was WAAAAAY OFF!
That's cool, I really do need to know.

Again, I love your analogy. I'm guessing you have a kid in little league, because you really nailed it!

I can say, I feel like I'm hitting the ball now, rounding first, but getting thrown out at second. My average is low, so I'm still working on my swing, everyday!

Ha, I think the baseball/softball analogy works just fine, although, your right, it does feel more like a basketball game.

This is a great ES Group here. I'm starting to understand the jargon more and more and my numbers are starting to coincide with the experienced members. Heck, last week I didn't know what support and resistance was. Nor consolidation or pivot points for that matter.

Today, someone posted resistance level at 1325.50. That's exactly what I had! What a milestone! You can imagine how happy I was to see that!

It's a great feeling, but you are correct... It's obvious I'm in dire need of help.

What to do? I've made the jump. As I mentioned in my very first post...

"I've gotten myself into something much deeper than I could of ever imagined."

Now I just have to hold on as long as I can. I read a lot. I've learned early on...

I don't have the personality to do this kind of work.
I don't have the finances to do this kind of work.
I often feel, I don't have the brains to do this kind of work.
People like me should not be doing this kind of work!

I'm reminded of this everyday. It's out there... EVERYWHERE! Now I know. I've gone against the odds. A stupid thing to do!

I will say, had I known then what I know now... I'd still jump in! HEAD FIRST! I wouldn't make the same idiotic mistakes, but who's to say I wouldn't make different idiotic mistakes.

Regardless, my point is, I'm the worst player on the team, but I like the uniform. I sit on the bench a lot, but am happy to be playing. Most important... I am having fun. Even on the bad days. I've just gotta work my @ss off now to get to the Major League!

Thanks for keeping me in the lineup, grednfer. Hope to see you at the World Series!



Originally posted by grednfer

TQ,
Having read your previous post I think the best advice I can give you would be to find a mentor.....like a coach....someone who can instruct you how to "Turn Two"....then its just a matter of practice right.


Making money by trading is somewhat like softball...I think its more like basketball.....but we'll stay with that analogy.

-In order to be a good hitter you gotta do your cage work. How many at bats do you get during a game 2-3? maybe....gotta be prepared.
-You have to have discipline and intent when stepping up to the plate.....- Head still, weight back, eye on the ball,....no stepping out.
-Know what kind of hitter you are and wait for YOUR pitch.
-I've always thought it was better to be a good line drive hitter, cranking doubles and triples all day long......than an HR hitter.
-Turn and Pop!
-Most of all remember "Its a game!" you're supposed to have fun.
Great time to update journal. Note to self.... should start new thread for Great info links!


es 5/18/2011 is a great link filled with info for the new trader. Posting this as a reminder to re-read, because it's loaded with jargon and strategies you have not yet seen or need to follow up on.

Other... Your numbers or very good today... ALTHOUGH the hours the numbers are based on do not coincide with the other members. I will test the prober times to see if there is more accuracy.

My numbers work, but can there be a day with a situation that needs the proper times?

Thats it for now...

rem...

1. Start thread for good links, check if one is already available.
2. Start basics thread.
TQ, I don't trade ES anymore .. but a good question to ask the ES folks
would be "what pivots act as magnets"
I'll look into that. Thanks for the heads up!


Originally posted by redsixspeed

TQ, I don't trade ES anymore .. but a good question to ask the ES folks
would be "what pivots act as magnets"

Odd day... Thought I had a good understanding of Triples... didn't. Now I can say I really do have a better understanding of Triples. Sorry to everyone I burden out there.

There were a bunch of triples today. Note to self... Gotta get a dual monitor. WOW.

Looked into magnets... The VPOC OR NPOC which act like magnets didn't attract at the end of the day today. At least on the es. I think today was an odd day.

This week I felt like I got a good handle on the whole trade thing. Then I discovered that once you crack the surface, there's are whole new levels to understand. uhhh...

Had a great day for learning, but it's kind of beat me down. And I didn't lose any money today! What exhausting work! I'm alright with this, but WHO KNEW! I thought physical labor was brutal. sheesh...

It seems it was a tough day for many today. Just a friendly reminder that the market plays havoc with the best of traders. I've watched how the others handle tough situations and I definitely need to be more like them! There was some talk of stress. I hit the button once today and I thought I was going to have a heart attack.

It was just the day. Hit it a bunch of times yesterday and was fine. It actually felt good! Today... I almost died.

Point being that I realize no matter how long I get to do this, there's gonna be dayz like these. Just... Nobody told me.


MY NUMBERS... I've got a TOTALLY different way of generating my numbers. What's good and what stinks is... THEY WORK!

MY DILEMMA... I generate RTH and O/N Pivots. Should I add weekly as well as Monthly as well? That's a lot of dots on my screen.

I think I will generate them and write'em down. Stick with my over-night's until, my numbers don't coincide with others. Then I'll have more options.

Note to self. Gotta look into what else can be considered a pivot magnet. hmmm?

That's it! I'm beat. g'night!
Besides this site here is another for your benefit.

http://traderfeed.blogspot.com/

Probably THE best mental/emotional site on the web, even if its no longer updated.
[url]http://traderfeed.blogspot.com/
[/url]

1) Make Your Journal Entries Goal-Oriented
2) Make Your Journal Entries Solution-Focused
3) Make Your Journal Learning Focused

Basically states to focus on what is learned. Be positive. Fix the negative, by learning from the mistakes.

Closing out this journal and starting a new. Less babble, more focus, more positive. Thanks for the link Lorn.
Another fantastic learning day! 100% on 5 trades. Little ones... have to take baby steps!

I was going to start fresh with a new journal, but I spent last night re-reading this one. Not as negative as I thought so I'll continue here. (Attempting to offer less babble.... starting now...)

BruceM started the day this morning with an excellent explanation regarding volume support(on a low volume day). Very cool! Lorn spelled it out with an excellent visual. big THANKS is due here. That answered a big "HOW COME" as to some of my observations.

This leads to one of my next goals.

-I need to LEARN how to recognize these indicators on my own charts as to not just rely on machine generated numbers or the members of this forum.

Biggest regret today... I missed the big drop from the 10am news report. Lesson here is...

-Had I'd gone short... the risk would of been minimal as well as recoverable had the News announcement been positive. Needless to say, VERY profitable had I realized this before the news announcement.

Sometimes gut feelings are correct!

Learned a lot and made a little back playing with volume today.

Noticed there were wide low areas so I jumped in recalling a comment made at the beginning of the week. It worked! Those low areas filled up. Interesting?

I was still overly cautious today, but what was leaned was the big payoff.

Tomorrow... note what happens to the Triple if it fails today!

Still wrote a lot, but hopefully more focus here.
Originally posted by TradeQueen

Great time to update journal. Note to self.... should start new thread for Great info links!


es 5/18/2011 is a great link filled with info for the new trader. Posting this as a reminder to re-read, because it's loaded with jargon and strategies you have not yet seen or need to follow up on.

Other... Your numbers or very good today... ALTHOUGH the hours the numbers are based on do not coincide with the other members. I will test the prober times to see if there is more accuracy.

My numbers work, but can there be a day with a situation that needs the proper times?

Thats it for now...

rem...

1. Start thread for good links, check if one is already available.
2. Start basics thread.

======================================================================
I just noticed your good links post .. this may be of help
http://thepatternsite.com/ ... you can ask him a question but you may only get to ask one .. I ask him and he responded right away
The surprises will always be there, but the losses can always be minimalized by better risk management and even more prudent money management.