AR01 Price Area Journal (Not a trading journal) - Emini Index Futures Trading | futures io social day trading
futures io futures trading


AR01 Price Area Journal (Not a trading journal)
Updated: Views / Replies:8,326 / 69
Created: by AR01 Attachments:67

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 67  
 
Thread Tools Search this Thread
 

AR01 Price Area Journal (Not a trading journal)

  #1 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

AR01 Price Area Journal (Not a trading journal)

Background:
I am a newbie trader and I am trading in SIM with ES. I can only trade for 1 hour after the ES open prior to leaving for work.

What am I doing?
I will be reading the prior night and previous days price on the ES before the 9:30 Eastern ďopenĒ. I will mark four Price Areas (PA), which is where I expect the market to go based on previous price action. There will be a potential daily high (PH) and a potential daily low (PL) based on one price reading method. There will be two other PA based on another price reading method. The high / low of the day can occur after market close until 24:00 I will log the predictions at futures.io (formerly BMT) before the open in this thread. There may not be predictions if I donít see a confluence of price but I will state as such. If there is no entry I am not available to look at the market that day.

I will then log the actual results when I get home after work.

Times will be Easter Standard Time.

Why not a trading journal?
Why am I doing this?

As you can see by what I am doing that this not a trading journal. Iím not ready for that yet. I notice as I trade in SIM for the need to instill some discipline and this is my first step, similar to defensive drills in basketball practice. Iím not trying to simulate a game yet just one part of my skill set. The trading journal will be added to this later or in another thread.

This is Price Area Journal. I need to improve my discipline prior to the market open to review price movements from the prior 24 - 48 hours. I have a tendency to look at only what price is doing right now. Creating this journal will make this process a routine and provide a goal for reading the price movements. I donít care if Iím right or wrong but that I go through the exercise.

I will be treating this like a journal / diary and it may have random thoughts, my feelings that day including emotions, etc. Thatís why we have journals, right? As Big Mike says, we need to hold ourselves accountable and be honest with ourselves, hence the journal. By posting this journal I am hoping I will hold myself (peer pressure of the forum) to working on this skill.

How do I read price action?
This process will be ever evolving. Iím looking at support / resistance which we all read differently. I am not using any indicators for this exercise.

How will I use this information?
This is just a tool to make me look at the prior price action. I will not be using this to make specific trades.

What should you do / not do?
Read this journal for entertainment and fun. Provide encouragement. Do not use it to make trades.

Please do not make your own predictions in this thread. Create a journal of your own.

Hindsight for the week 2/8 - 2/12/10:
I marked some areas of my charts this week prior to the open. This week, now looking back, had a similar range each day and extremely close opens. When the market moves out of a ranged area I expect I will need to adjust my reading method. Here were the results:

2/8/10: Price opened around 1062.25
Area: Prediction Result
PA1: 1066.25 Price moved to this area at 11:00 and stayed within a 4 point range until 13:00
PA2: 1058.00 Price moved down to 1056 and reversed at 9:50
PH: 1070.50 High of the day 1068.50 at 11:15
PL: 1052.50 Low of the day 1053 at 16:00

2/9/10: Price opened around 1066.50
Area: Prediction Result
PA1: 1069.25 Price hit 1068.75 and reversed at 9:40. Price hit 1069.75 and reversed at 10:20
PA2: 1062.25 Price hit around 1063.25 and reversed at 10:00. Price hit 1063.50 and pulled back and moved lower at 10:50
PH: 1072 Price hit 1077 at 12:20
PL: 1056 Price hit 1058 at 11:12

2/10/10: Price opened around 1065.75
Area: Prediction Result
PA1: 1070.25 Price hit 1069.50 and reversed at 9:36
PA2: 1063.25 Price hit 1063.75 and reversed at 9:33
PH: 1077 Price high 1072 at 13:30
PL: 1058 Price low at 1056 at 10:30

2/11/10: Price opened around 1064.25
Area: Prediction Result
PA1: 1066.25 Price hit 1066.75 and reversed at 10:12
PA2: 1058.25 Price hit 1057.75 and reversed at 9:48
PH: 1076 Price hit 1079 at 17:00
PL: 1058 Price hit 1058 and reversed at 9:48

2/12/10: Price opened around 1065.25
Area: Prediction Result
PA1: 1074.00 Price hit 1075 at 12:24 and reversed
PA2: 1065.25 Price blew right through 1065.25 and went to 1060 and reversed at 9:45
PH: 1083 Price went to 1079 and closed for the week
PL: 1061 Price went to 1060 and reversed at 9:45

Andrew

Reply With Quote
The following user says Thank You to AR01 for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

02_15_10 President's Day


This will be a low volume day. I marked the following areas on my chart:

Area:Prediction
PA1:1079.75
PA2:1074.75
PH:1083
PL:1068

Reply With Quote
 
  #4 (permalink)
Elite Member
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,197 since Jun 2009
Thanks: 627 given, 6,282 received

and a chart to go with those levels

Attached Thumbnails
AR01 Price Area Journal (Not a trading journal)-es-03-10-2_15_2010-5-min-.jpg  
Reply With Quote
The following 3 users say Thank You to cory for this post:
 
  #5 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

02_15_10 President's Day-Results

The ES market closed for a while today due to Presidents day.

Area:Prediction-Results
PA1:1079.75-Price high today at 1078.25
PA2:1074.75-Price moved down to 1075 at 10:51 and 11:30 and 1075.25 at 19:00
PH:1083-High of 1078
PL:1068-Low of 1075

If I have time I will add images in the future.

Andrew

Reply With Quote
 
  #6 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

02_16_10 Pre-market Areas

Area:Prediction
PA1:1087.50
PA2:1078
PH:1091
PL:1072

Attached Thumbnails
AR01 Price Area Journal (Not a trading journal)-picture-2.png  
Reply With Quote
 
  #7 (permalink)
Elite Member
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,197 since Jun 2009
Thanks: 627 given, 6,282 received

use constantlines indicator then all you have to do is type in the level numbers.

Reply With Quote
The following 2 users say Thank You to cory for this post:
 
  #8 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received

Thanks for those AR01 , your levels are based on sound information . Im using pretty much the same approach to get the levels , keep up the good work .

Reply With Quote
The following user says Thank You to Eric j for this post:
 
  #9 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

02_16_10 Results

Open: 1083.75

Area:Prediction: Result
PA1:1087.50: Price moved up to 1087 at 10:45 and pulled back. Then price moved up to 1089 at 11:45 and consolidated in this area until a breakout at 15:30
PA2:1078: Price moved down to 1079.50 and double bottomed at 10:12 (also to the exact tick as pre-market at 7:39
PH:1091: Price broke 1091 at 15:33 and moved to the high of 1094.75 (as of the time of this post)
PL:1072: See PA2

Attached Thumbnails
AR01 Price Area Journal (Not a trading journal)-picture-3.png  
Reply With Quote
 
  #10 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

02_17_10 Pre-Market


Prices weren't very clear today for me. (me or the market?)

Area:Prediction
PA1:1102
PA2:1093.50
PH:1105
PL:1088

Attached Thumbnails
AR01 Price Area Journal (Not a trading journal)-picture-1.png  
Reply With Quote

Reply



futures io > > > > AR01 Price Area Journal (Not a trading journal)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tiger's Price Action Journal Tiger45 Trading Journals 258 October 20th, 2014 03:56 AM
TMNT's Trading Journal: ES 5m candle, Price Action scalping tmntrader Elite Trading Journals 20 August 12th, 2011 04:37 PM
Price, Volume & the DOM - Live Trading Journal ZTR Elite Trading Journals 822 October 6th, 2010 03:19 PM
CW's ES Price action trading Journal cw30000 Trading Journals 25 September 28th, 2010 10:54 AM
Price & Volume Trading Journal ZTR Trading Journals 117 February 21st, 2010 04:02 AM


All times are GMT -4. The time now is 06:59 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-11-17 in 0.13 seconds with 20 queries on phoenix via your IP 54.225.57.89