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Breakout Journal - a journey to full time trading


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Breakout Journal - a journey to full time trading

  #491 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Taking some time off before I begin the next combine. Still reflecting on the last combine. Working around the house and spending time with family. I have been learning more about volume profile and testing some ideas. Nothing serious at this point.

Robert

nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
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  #492 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Testing trading ideas -SIM 150K account - 89 tick chart - 6 contracts

Building off my current process I added volume profile to make the following trades. First trade I was in too early. Second trade I hit the mark and made 69 ticks with a run up to 100 ticks.

This is where I need to get to. Looking back at my combine I had several trades where I could have used this process to have a better entry and let the trade run.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #493 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238


Testing trading ideas -SIM 150K account - 89 tick chart - 6 contracts

Testing Volume Profile and trend line break on the Yen. +52 ticks

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #494 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Testing Trading Ideas.

I have been working with @PandaWarrior on pyramiding contracts on a trade. The idea is to add to a winning postilion and let it run. It works well because you lose less when you are wrong and win more when you are right. Here is a trade I took this morning using the method. I started out with 4 contracts and then added 4 more when I was +11 ticks.

Ended the trade +39 ticks on the first 4 contracts and +28 on the last 4 contracts.

Trade entry was a trend line break on the open combined with position on the volume profile chart. I set the target on the low volume area on upper part of the volume profile chart.

Robert



Ticks only:


nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
  #495 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Testing trade ideas.


Second trade of the day.

Entry type: Trend line break combine with being in the extreme range of the Volume Profile.

Entered on this trade but really did not have a warm and fuzzy feeling so I did not add to the position. Exited the trade +19 ticks.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
  #496 (permalink)
 
xelaar's Avatar
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
Posts: 1,505 since Feb 2013
Thanks Given: 1,740
Thanks Received: 2,568

Great stuff with pyramiding. This is the road to riches.

Trade to live. Not live to trade.
Follow me on Twitter Visit my NexusFi Trade Journal
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  #497 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Testing trade ideas.

3rd trade of the day

Entry type: Trend line break. Fade the volume profile extreme.

The premise of trading volume profile is to trade extremes. In other words wait for price to get to a area where there is low volume then fade it back the other way. Use trend line breaks double tops etc for a entry signal. This was a good example of that type of trade. I got in too early on this trade because there was a fake breakout. Admittedly I have more experience trading the CL than the Yen so the price action is different but the outcome is the same.

The target I had for this trade was well placed. What I could have done was hold onto the position and add more to the position above the gap. Still learning but it is coming together nicely. +10 ticks on the trade.

Robert




nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
  #498 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Testing trading ideas.


1st trade of the day.

Entry type: Trend line break; price @ extreme of volume profile.

I took a trade before the open which I try to stay away from, however the conditions were met. I was thinking like I used to and trying to protect profits. I exited the trade @ 11 ticks. It proceeded to go 30 ticks lower. I actually had my stop @ BE and I still closed it out!! This is a habit I have to break; overreacting when price goes against me.

Original idea on trade was to scale in after it broke below the gap. This was the right trade!! I left 1500 on the table.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #499 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238


Silver Dragon View Post
Testing trading ideas.


1st trade of the day.

Entry type: Trend line break; price @ extreme of volume profile.

I took a trade before the open which I try to stay away from, however the conditions were met. I was thinking like I used to and trying to protect profits. I exited the trade @ 11 ticks. It proceeded to go 30 ticks lower. I actually had my stop @ BE and I still closed it out!! This is a habit I have to break; overreacting when price goes against me.

Original idea on trade was to scale in after it broke below the gap. This was the right trade!! I left 1500 on the table.

Robert

What could have been!!!


nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #500 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238


Testing trade ideas

2nd trade of the day.

Entry type: trend line break and price at extreme on volume profile.

Had my stop to tight. -9 ticks.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread
Thanked by:

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