NexusFi: Find Your Edge


Home Menu

 





Tap In's Corner


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Tap In with 656 posts (1,161 thanks)
    2. looks_two bobwest with 42 posts (123 thanks)
    3. looks_3 Inletcap with 21 posts (131 thanks)
    4. looks_4 lancelottrader with 20 posts (32 thanks)
      Best Posters
    1. looks_one Inletcap with 6.2 thanks per post
    2. looks_two ratfink with 3.9 thanks per post
    3. looks_3 bobwest with 2.9 thanks per post
    4. looks_4 Tap In with 1.8 thanks per post
    1. trending_up 122,040 views
    2. thumb_up 1,778 thanks given
    3. group 47 followers
    1. forum 855 posts
    2. attach_file 1,600 attachments




 
Search this Thread

Tap In's Corner

  #21 (permalink)
 
ratfink's Avatar
 ratfink 
Birmingham UK
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
Posts: 3,633 since Dec 2012
Thanks Given: 17,423
Thanks Received: 8,425


Tap In View Post
One takeaway from today is that I nitpick my trades. It seems I’ll find any way I can to talk myself out of it. I don’t want to get burned again like I have a thousand times in the past. This is the natural result of a home educated trader getting beat up for too long. One gets a little gun shy. I am sure many can relate.

Yep, fight it nearly every day of the month. Apart from the 3 when I overtrade.

Travel Well
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Exit Strategy
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Better Renko Gaps
The Elite Circle
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
Battlestations: Show us your trading desks!
26 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
  #22 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,341
Thanks Received: 26,267


ratfink View Post
Yep, fight it nearly every day of the month. Apart from the 3 when I overtrade.

Only 3? I want to know your secret....

Bob.

Reply With Quote
Thanked by:
  #23 (permalink)
 
ratfink's Avatar
 ratfink 
Birmingham UK
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
Posts: 3,633 since Dec 2012
Thanks Given: 17,423
Thanks Received: 8,425



bobwest View Post
Only 3? I want to know your secret....

Bob.

Well, when I overtrade I really overtrade and the red mist descends and leaves big ugly marks. Last month was great apart from 3 truly awful days. Only one thing has helped me get the number down - paying for the lessons. I still got complacent on the back of a good run when the skies looked clear, you know, like they do over the Sierra Nevada...

I would have to say that the gun-shy thing is a pain but always preferable.

[sorry @Tap In for intruding.]

Travel Well
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #24 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

I also notice that I have a tendency to get the courage to take my first trade as the day gets older, primarily after the morning rush, after around 8am pst, after the best moves, when things have settled down. Not sure what this is all about. I do not think it is because of being overwhelmed by the activity since I am easily able to keep up with what is going on.

Maybe is has to do with having more time to contemplate the trade, to really think about it, that I need that extra time to be certain. I do this when I make other big decision in my life, whether it's a big purchase, or a project I want to turn out well. I'll do research, weight the pros and cons, take my time, contemplate until I think I've got things figured out. My wife on the other hand is a shoot first ask questions later decision maker. She'd be a great scalper!

Or, maybe I am subconsciously saving my losses for later so I don't have to call it a day too early. There are few things worse than getting in the hole right out of the gate and either being forced to stop or risking the huge losing day.

Not sure what's causing it, but I will be monitoring this in the journaling.

Started this thread Reply With Quote
Thanked by:
  #25 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

Trades Taken: 1, -8t
Should have taken: 11, potential +140t
Efficiency: 1/12 = 8%

NQ, GC and NG were stuck in ranges for a good part of the morning. Oil was the mover today but I was never comfortable with the direction. Because of this I found myself complacent today. This tends to happen when I don’t like the look and price action of the markets early on. Rather than be on the alert for a market to wake up, I kind of check out and lose interest.

When a market like oil does come to life, and I miss or pass on the first couple successful set-ups, the complacency compounds and my interest in trading is even less. I feel that I have missed the best trades and now will be risking on the scraps, and that there will not be opportunities left to make up for any losses.

Anyway, rookie mistakes for sure, and something I need to work on. As a professional trader I need to be ready and willing for all opportunity.

Note: the one trade taken was after 9:30. Again, waiting until later to take first trade.

Regarding my plan, because of my lack of interest in trading I only kept a few notes. Need to do better.

Tomorrow: Continue to monitor thoughts and feelings at moment of truth. Stay engaged no matter what the market is doing. Take a trade or two early that look good.

Attached Thumbnails
Click image for larger version

Name:	2014-12-02_CL_summary.png
Views:	267
Size:	262.4 KB
ID:	167720   Click image for larger version

Name:	2014-12-02_GC_summary.png
Views:	242
Size:	214.1 KB
ID:	167721   Click image for larger version

Name:	2014-12-02_NG_summary.png
Views:	249
Size:	184.4 KB
ID:	167722   Click image for larger version

Name:	2014-12-02_NQ_summary.png
Views:	238
Size:	212.8 KB
ID:	167723  
Started this thread Reply With Quote
Thanked by:
  #26 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

Update:

Most instruments stuck in ranges and chop. Stay patient. Inventory coming up should break things loose

tried one trade, no fill. Four marked trades, little potential.

NQ on the move. Looking for opp to downside.

Focus!

Started this thread Reply With Quote
  #27 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

Trade 1: NQ short. 6 ticks heat. +13

Started this thread Reply With Quote
  #28 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

Trade 2 GC: -10t

Attached Thumbnails
Click image for larger version

Name:	2014-12-03_GC_trd_2.png
Views:	235
Size:	173.9 KB
ID:	167806  
Started this thread Reply With Quote
  #29 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

In reviewing past charts I noticed that the majority of "should have taken" trades happen before 8:30am. So I am going to start paying attention to how I trade during that time:

So far today: 2 trades taken
5 trades should have taken.

2/7 = 28% efficiency

Not much yield on the trade areas since the markets aren't seeing much follow through, at least from the entries I identify

There were a couple nice trades I missed and a couple that I have to learn how to see in the future.

Started this thread Reply With Quote
  #30 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082


Trades Taken: 2, +3t
Should have taken: 6, potential +30
Efficiency: 2/8= 25%

Good patience today. Markets not doing a lot, at least for how I trade. No big runners. I am finding my patience is very good these days. This is in part due to the fact that I know on any given day I can have an opportunity to get 200 ticks, so I can afford to wait. Now that I’ve said it I hope this doesn’t jinx me!

Took a couple trades early which is progress. Didn’t wait until later

Stayed focus throughout day, just didn’t see much that I was confident in. Did miss a great CL trade because of brief distraction. It happened fast and I almost hit the button.

Did some useful journaling.

Tomorrow: continue working on sustained focus throughout day, early trading (pre 8:30), and journaling during moment of truth. Be ready for one or more instruments to run, and if so, hit the button!

Attached Thumbnails
Click image for larger version

Name:	2014-12-03_CL_Summary.png
Views:	242
Size:	264.2 KB
ID:	167857   Click image for larger version

Name:	2014-12-03_GC_summary.png
Views:	216
Size:	230.0 KB
ID:	167858   Click image for larger version

Name:	2014-12-03_NG_summary.png
Views:	222
Size:	248.6 KB
ID:	167859   Click image for larger version

Name:	2014-12-03_NQ_summary.png
Views:	214
Size:	262.6 KB
ID:	167860  
Started this thread Reply With Quote
Thanked by:




Last Updated on December 28, 2019


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts