NexusFi: Find Your Edge


Home Menu

 





Short term TF trading


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one indextrader7 with 449 posts (941 thanks)
    2. looks_two josh with 36 posts (46 thanks)
    3. looks_3 Victory Trader with 26 posts (3 thanks)
    4. looks_4 cmmichaels with 21 posts (16 thanks)
      Best Posters
    1. looks_one SteveH with 2.7 thanks per post
    2. looks_two indextrader7 with 2.1 thanks per post
    3. looks_3 Traderwolf with 1.6 thanks per post
    4. looks_4 josh with 1.3 thanks per post
    1. trending_up 140,103 views
    2. thumb_up 1,209 thanks given
    3. group 90 followers
    1. forum 797 posts
    2. attach_file 283 attachments




 
Search this Thread

Short term TF trading

  #301 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012

Something I've been wondering about.... CTA Performance #'s (or lack thereof).

Started a thread on it in case anyone is interested in weighing in.


Reply With Quote

Can you help answer these questions
from other members on NexusFi?
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
ZombieSqueeze
Platforms and Indicators
Are there any eval firms that allow you to sink to your …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #302 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012

Decent trading today, I'll take it for sure.

+3
+12
-7
-9
+5
-3
+14
+5

=+20 average ticks per contract

Had two losers in a row where I on the first one I thought resistance would hold and thus fought a losing battle with the trend, and the second one shortly after where I thought there was a breakout failure - where I proceeded to lose to the trend again. At times I felt like I was the "weak hand" being shaken out, but I stayed fearless (kinda) and just re-entered once it looked safe again.l But the rest was good today.

You can see the two red arrows in the middle of the chart where I fought the trend. There was definite slowed momentum to support the idea though.




And here's the performance ratio I'm monitoring closely. It's amazing to see results from where you shift your focus.



Reply With Quote
  #303 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012


I'm very happy with the reduction in drawdowns as of late. I know it's not entirely sustainable, and there will be strings of losses, BUT if I keep this laser focus... the large majority of the time I think I can keep my drawdown chart looking like this. (Which in case this seems really boring to you... makes your equity curve look like a very steep, straight line headed up... and that's a little more sexy).

Reply With Quote
  #304 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012

Screenr - indextrader7: 6-5 Recap (sorry it got cut off at 5:00, but I was pretty much done)

One thing I wanted to add to that is on the few trades where I got stopped out trying to get long on the pullback (right before 9:00AM), now I see that I should just set my stop loss below the bull candle and let it do it's thing. If that's too far away for my risk appetite, I can simply trade less contracts. Not a novel concept I know, but still somewhere I see an area for improvement.

Reply With Quote
  #305 (permalink)
 
Traderwolf's Avatar
 Traderwolf 
Raleigh,NC
 
Experience: None
Platform: Versatile and Stable
Broker: Reliable and Accurate
Trading: Money
Posts: 250 since Feb 2012
Thanks Given: 154
Thanks Received: 1,028

IT7,

I have seen in your videos that you will at times buy a pullback and other times buy a breakout. I was wondering if your trading plan has detailed descriptions of setups or if it is more general in nature?

A detailed description of buying pullbacks might look something like(long example):

- Will on go long if above the 20 ema
- 20 ema must have a positive slope
- Must have at least 1 HL and 1 HH
- Pullback cannot exceed previous HL or close below 20ema
- Will buy stop limit bar bar break on 1st pivot pullback
- Stop below signal bar and cannot exceed 10 ticks
- Trade cannot go directly into same time period trendline
- Minimum target above previous high
- Stop to BE after 10 ticks or 1st target hit


A general description of buying pullbacks may look something like this:

I will buy all pullbacks in a trend until the trend loses momentum.

I have been back and forth on this(in my mind and in real trading) . I seem to do better in real trading when I have more specific rules and filters which give me less room to take discretionary trades on the fly. I take less trades with more specific rules and filters, but the success rate is much higher than when I trade with general rules.

Your consistency is very good and much better than mine, so would like to know how you go about this.

Thanks again for a great thread.

Wolf

Reply With Quote
Thanked by:
  #306 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012


Traderwolf View Post
IT7,

I have seen in your videos that you will at times buy a pullback and other times buy a breakout. I was wondering if your trading plan has detailed descriptions of setups or if it is more general in nature?

A detailed description of buying pullbacks might look something like(long example):

- Will on go long if above the 20 ema
- 20 ema must have a positive slope
- Must have at least 1 HL and 1 HH
- Pullback cannot exceed previous HL or close below 20ema
- Will buy stop limit bar bar break on 1st pivot pullback
- Stop below signal bar and cannot exceed 10 ticks
- Trade cannot go directly into same time period trendline
- Minimum target above previous high
- Stop to BE after 10 ticks or 1st target hit


A general description of buying pullbacks may look something like this:

I will buy all pullbacks in a trend until the trend loses momentum.

I have been back and forth on this(in my mind and in real trading) . I seem to do better in real trading when I have more specific rules and filters which give me less room to take discretionary trades on the fly. I take less trades with more specific rules and filters, but the success rate is much higher than when I trade with general rules.

Your consistency is very good and much better than mine, so would like to know how you go about this.

Thanks again for a great thread.

Wolf

I think the trick (was for me at least) was to get beyond that rigidity/objectivity, and learn to trust my own subjective analysis and feel. You might as well be a mechanical system trader if you create such rigid rules. I believe the subconscious mind can process things that no computer will be able to.

Embrace the uncertainty. Manage whatever happens.

Reply With Quote
  #307 (permalink)
 
josh's Avatar
 josh 
Georgia, US
Legendary Market Wizard
 
Experience: None
Platform: SC
Broker: Denali+Rithmic
Trading: ES, NQ, YM
Posts: 6,216 since Jan 2011
Thanks Given: 6,752
Thanks Received: 18,136


indextrader7 View Post
I think the trick (was for me at least) was to get beyond that rigidity/objectivity, and learn to trust my own subjective analysis and feel. You might as well be a mechanical system trader if you create such rigid rules. I believe the subconscious mind can process things that no computer will be able to.

Embrace the uncertainty. Manage whatever happens.

I like you more and more IT7; I did not realize we have so much in common. What you say here is heresy to many in the masses, but sweet music to my ears. Many are threatened by the "F" word (feel) and the "S" word (subjectivity), because they would prefer to turn their brains and humanity off, and let a computer or a static list of rules tell them what to do.

Reply With Quote
  #308 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012

Boy, wish I could have traded today, some really nice movement, although that's always easy to say in hindsight! Changing some account structure stuff around today with Mirus, hopefully will be up and running tomorrow.

Hope you guys banked some ticks today.

Reply With Quote
  #309 (permalink)
 indextrader7 
Birmingham, AL
 
Posts: 1,065 since Apr 2012

Going well. Might be done for the day, as it's really nice outside! Tennis? Golf? Shooting? Time will tell.


Reply With Quote
  #310 (permalink)
 
Boomer34's Avatar
 Boomer34 
Georgia, USA
 
Experience: Advanced
Platform: TOS
Broker: TOS
Trading: SPX
Posts: 164 since Mar 2011
Thanks Given: 74
Thanks Received: 57


IT7...quick question for ya.

Do you plan to turn on your charts at the same time each morning to start trading? How much flexibility do you have in this?

Basically wondering if you trade pre-market action or maybe if you like to wait for a certain number of bars to print before engaging...

Thanks again for the journal!

Follow me on Twitter Reply With Quote




Last Updated on June 9, 2013


© 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