Learn How To Fish

[vivek.civil17]

Many traders got in whip trades in sideways ...mostly unnecessary trades....As a flow trader we know when is sideways ...so only need to act as per that ...today is one good example of this type trades ...we look how can we avoid some using our own rules.....

View attachment 32366

As per ydays closing we are in DT...so looking for shorts...Today opened gap into yday range and that move printed new VPL...now drawn DERL when we got new VPL
Now we waiting short trades at VPL or new mpl (if lower mph)---marked as 1
But we avoid this short trade(1) as we had the rule when DERL there ...we wait for bd and look for opportunity...so this trade avoided
In 1st green circle there is BDF trade but not get any entry setups ...
then we got mpl (marked 2) its perfect entry setup for us as RE with trend...entered which scratched later
now price retraced again made new higher vpl...so now its cleared that TS in visual sideways...so one can avoid trades in visual sideways here after
or can trade with fully focus and lowered pos size...one can also avoid trades which used mp abv/blw vp inside visual range
One can attempt failure trades if get any entry setups where marked green&red circles...IMO where 1&2 circles there is no visible entry setups...3rd one have one entry setup(though not fully confident one)
So here we avoided possible trade(1) and took one(2) which scratched ..

I many time mentioned in this thread about avoid trades using DERL ,,,also pointed when avoid taking trades (trend reversing trades) where mps away from VP ....
IN live if you start apply these points it will be good for your ledger

View attachment 32368

nice post vjay bro , exactly where i stucked at first trade . i must follow this fr good ledger

 

[VJAY]

 

[raju.vzm]

Many traders got in whip trades in sideways ...mostly unnecessary trades....As a flow trader we know when is sideways ...so only need to act as per that ...today is one good example of this type trades ...we look how can we avoid some using our own rules.....

View attachment 32366

As per ydays closing we are in DT...so looking for shorts...Today opened gap into yday range and that move printed new VPL...now drawn DERL when we got new VPL
Now we waiting short trades at VPL or new mpl (if lower mph)---marked as 1
But we avoid this short trade(1) as we had the rule when DERL there ...we wait for bd and look for opportunity...so this trade avoided
In 1st green circle there is BDF trade but not get any entry setups ...
then we got mpl (marked 2) its perfect entry setup for us as RE with trend...entered which scratched later
now price retraced again made new higher vpl...so now its cleared that TS in visual sideways...so one can avoid trades in visual sideways here after
or can trade with fully focus and lowered pos size...one can also avoid trades which used mp abv/blw vp inside visual range
One can attempt failure trades if get any entry setups where marked green&red circles...IMO where 1&2 circles there is no visible entry setups...3rd one have one entry setup(though not fully confident one)
So here we avoided possible trade(1) and took one(2) which scratched ..

I many time mentioned in this thread about avoid trades using DERL ,,,also pointed when avoid taking trades (trend reversing trades) where mps away from VP ....
IN live if you start apply these points it will be good for your ledger

View attachment 32368

Thanks Vijay, I shorted at that 1st point. It hit my sl. Have to learn using erl & derl.

Sent from my RealMe1 using Tapatalk

 

[shanbagr8]

Nice writeup from linkon....

DISCIPLINE is defined as "the practice of training people to obey rules or a code of behaviour, using punishment to correct disobedience". No one does that better than the Market.

No matter how long one is trading, market will slap you hard the moment you develop disobedience. Even worse is, it will reward you for your first few acts of indiscipline and then it will pummel you to the ground and force you correct your ways and learn to respect the randomness of the market.

Keyword here is Randomness. Some days markets and your system wont sync. It appears as if, market is waiting for you to put your stoploss order and then it will take it out. You dont put in a stoploss and it will work for some time and then it will eat away your profit for the last few days in a single trade.

Even the most seasoned of traders have similar stories. That because we are playing with probabilities. Its a law of average game. Some days my system will sync well with the market and I end the day early happy that i made my target for the day. Some days when the system doesnt sync, I end up fighting the market and loose 3-4 days of profit in that single day.

There is so much to learn about how to mentally cope with trading as a profession. And i am still learning....

This is way its important to constantly back test your system with bar replay. This gives us the confidence to stay with a system even when its failing. There is information flowing all the time. Views are shared on various forums and channels that might encourage you to find reasons to support that bias in the charts. Charts have a wonderful way of looking different when looked under a different time frame or under a different system.

Basically our eyes see what it wants to see and that is why discipline needs to be ingrained into the trading psyche. The more we back test, the more willpower we will develop to learn to ignore the information overflow and stick to what we know works.

Exactly My own experience

 

[VJAY]

A note from linkon....its suits to this method.....

Every good system will have few winners that make the system profitable. Take away those top 5% winners and the system will barely manage to survive. On real trading sessions, we wont be able to ride those winners. Mentally we are not strong enough. But those big losers, we will catch every one of them.

Trading is all about protecting the capital. Live to trade another day....

 

[vivek.civil17]

TS 07/01/19 - No trades

 

[vivek.civil17]

TS 08/01/19 trades - 2 trades and both scratch .

 

[vivek.civil17]

TS 09/01/19 - 2 short trades , though i not trade today , i was not in system ....

 

[Smart_trade]

TS 09/01/19 - 2 short trades , though i not trade today , i was not in system ....
View attachment 32594

The second short trade should be higher...as soon as the highest minor pivot in the corrective upmove is cracked we short as we made a lower top and resumed a downmove indicating that the visual downtrend was likely starting...we need not wait for a visual pivot low to crack in this case....

Smart_trade

 

[vivek.civil17]

hi ST sir , rightly said there was a short as our minor trend will align with VT once the recent MPL get broke . though i following some basic mechanical rules fr entry - this case missed here to give me the entry earlier . but as a pivot trader i m developing myself and getting command in the method slowly , a big thanks to vjay bro fr that .... soon will take entries based on the market structure , analyzing strength and weakness . i m happy that u seeing my trades and correcting me , hoping the same on coming days . thanks ST sir.