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Vovan348 Day Trading TF with NFT setup


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Vovan348 Day Trading TF with NFT setup

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  #111 (permalink)
 vovan348 
Moscow
 
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JohnnyAustin View Post
Check out my journal. Didn't get a chance to take a screenshot yesterday as my 3 week old baby was hungry.

I trade the 1 and 3 minute charts too. I've also noticed on the TF that my setup will appear at LEAST 3 times per day but I only make up to 3 trades per day. Yesterday I saw aLOT of opportunity, but I'm not a pig heading to slaughter.

Something Mike, and others, drilled into me was to take ONLY 3 trades per day, no matter what. Angry, happy, in the money, out of the money, whatever, doesn't matter. Make those 3 count.

I feel you about the baby!
My son is over two years old, but he still needs a lot of attention.

Thank you about you advice! I tried 4 trades a day before and that didn't work out. I would wait for the best setup that doesn't work that well but I would miss a few other setups that worked fine. Long story short I was scared to trade because I wanted to save my trades for later and then use them in worse conditions that I could.

My problem is that I'm paying to much attention to 1 min chart and it gives me much more setup for entries than 3min. I just see the strong move and I'm afraid to miss it. I know that 3 trades rule won't help me with that.

I even know the reason why I'm watching 1min more than 3min. Because in today's volatility with 3 min chart stops are much bigger than I'm used to. I wanna get risk from 1min but profit from 3min. But 1 min gives two many entries and a lot of them are just too early in the move. So my # of trades is going up and my win% is going down.

I have to learn how to make myself to use 3min charts for entries and 1min chart just to zoom in at the area for better picture not for entries.

Thank you very much for your comments!!

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  #112 (permalink)
 JohnnyAustin 
Austin, TX
 
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I think I see your dilemma. I went through my journal last night as it had been a few months since I've traded and have traded on multiple computers. Not ideal, but hindsight is 20/20. In order to see what was happening market wise, I still used the 1 minute chart but also opened a 66 tick chart as well. The tick chart, to me, showed what was happening within the 1 minute chart, or even 3 minute chart. Using the tick chart in addition to the minute chart helped me identify potential trades and when to get in and out.

Here are some images from those trades I took.



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  #113 (permalink)
 vovan348 
Moscow
 
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I cannot deal with this volatility!!!

I don't even feel like posting my trades but here is a summary for today:

I think there is two solutions for me.

1. Move to smaller time frame like Johnny recommended (1min replacing 3min and 66 ticks replacing 1min)

2. Move to less volatile instruments like ES, 6E or YM to lower my losses. Maybe even trade London market before US open.

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  #114 (permalink)
 bluemele 
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vovan348 View Post
I cannot deal with this volatility!!!

I don't even feel like posting my trades but here is a summary for today:

I think there is two solutions for me.

1. Move to smaller time frame like Johnny recommended (1min replacing 3min and 66 ticks replacing 1min)

2. Move to less volatile instruments like ES, 6E or YM to lower my losses. Maybe even trade London market before US open.

You were doing so well w/ NFT setup. Hint Hint...

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  #115 (permalink)
 JohnnyAustin 
Austin, TX
 
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I'll do my best to sim today/tonight and see how I do and will post in my journal. I think, too, that you need to slow your roll. Also, what are your stops like? I cannot STAND to be in a position that is over 11 ticks out of the money. Why do you have positions that go 2, 3, or even 5 points out of the money?

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  #116 (permalink)
 vovan348 
Moscow
 
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JohnnyAustin View Post
I'll do my best to sim today/tonight and see how I do and will post in my journal. I think, too, that you need to slow your roll. Also, what are your stops like? I cannot STAND to be in a position that is over 11 ticks out of the money. Why do you have positions that go 2, 3, or even 5 points out of the money?

Well I place my stop loss below swing low or above swing high. That's why I get such a huge losses because on 3min chart every candle is 4-6 points. If I try to get smaller stop loss it takes me out on a spike and then moves in my direction.

I'm not saying that market is not tradable this days. I just can't deal with it. I feel like I'm really off today and I couldn't figure out what's going on.

This is how my trades look like on 1min chart (I entered from 3min).

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  #117 (permalink)
 JohnnyAustin 
Austin, TX
 
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Another idea that has helped me is to not jump back into a trade until a certain amount of time has passed, usually about 15 minutes or so. Don't blow all your trades in an hour or less. You MUST be disciplined in your approach to trading.

How were you picking whether to go long or short?

Many thanks to the site and all the contributors. Great source of info.
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  #118 (permalink)
 vovan348 
Moscow
 
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Trading: ES, TF, 6E
 
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JohnnyAustin View Post
Another idea that has helped me is to not jump back into a trade until a certain amount of time has passed, usually about 15 minutes or so. Don't blow all your trades in an hour or less. You MUST be disciplined in your approach to trading.

How were you picking whether to go long or short?

That's a good question. I'm watching momentum up and down trying to find weakness. Also trend in general. Today I didn't see clear trend. I just took couple more trades from1min.

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  #119 (permalink)
 vovan348 
Moscow
 
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I changed my time frame.

I use 233 ticks as my main chart, 86 ticks as smaller time frame and 1597ticks for my trading frame (to see S/R easier).

I also moved back to 1 contract. Reason for that if I start trading live again my account will be pretty small so I cannot afford trading 2 contracts anyways.

Today I had 3 trades:
Trade #1 I placed my order at 665.4, but my NT went off (not responding) and when it came back I was filled at 665.8 (4 ticks difference).

Trade #2 was a counter-trend trade and I got in too early. I moved my stop loss to 6 ticks according to aggressive trade management at 86 ticks chart and took a small loss.

Trade #3 was at the same area with #2 after another test a fail of the high. Exited by trailing stop.

Here are my trades and summary:



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  #120 (permalink)
 vovan348 
Moscow
 
Experience: Beginner
Platform: Trade Nav., NinjaTrader
Trading: ES, TF, 6E
 
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Posts: 460 since Mar 2011
Thanks: 612 given, 405 received



bluemele View Post
You were doing so well w/ NFT setup. Hint Hint...

To be honest I think that NFT has some flows. I mean that going for gas thing. Another thing that turning me of that you need a lot of screen space to watch all time frames. The strategy I'm looking for is the one I can trade from laptop anywhere I go.

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