Maletor's Daily Market Review - Trading Journals | futures io social day trading
futures io futures trading


Maletor's Daily Market Review
Updated: Views / Replies:5,953 / 43
Created: by Maletor Attachments:28

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
 28  
 
Thread Tools Search this Thread
 

Maletor's Daily Market Review

  #1 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

This is the first post.

A little history about me.

I started trading stocks about 18 months ago.

I shorted all the banks and bought up all the gold miners because it was the *hot* thing to do.
This was just before the Obama crash of 2008, but at the time I thought it was the credit crisis.
I thought I was pretty cool and I used to look around on Motley Fool CAPS trying to get hot stock tips from their "top traders"
Then, I moved over to options on the SPY, thinking I'd really discovered the best way to play the markets.

All the while I figured I knew it all and millionaire status was right around the corner, while my equity curve looked like a huge trading range, not the slow and steady slope up we all glean for.

Then, I discovered gurus (and opened a futures account). I found one from the CME group that seemed ok, and was ok, but my bottom line was not improving.
And yes, of course, I spent money on trading plans. Luckily, it didn't cost me much money to figure out that was not the answer.

Indicators too, and systems based off them. I've tried probably 100s of them. They all look so good, but do not work in market conditions. (You know, the kind of conditions where things change over time?)

I started to read as much as I could get my hands on. The first book is by Edwards and McGee and it was written in the late 1800s about trading. It's on the MTA's Chartered Market Technician level 1 reading list. The internet really is poor when it comes to finding good reliable information about trading. Too many snake oil salesman dominate the market. So I read the rest of the books for level 1 (of 3) and I started trading with just volume, trend and horizontal lines, and a 20EMA (something I learned from the guru.) The reading list is really great by the way, and I imagine the recognition of being a CMT is a great thing to put on a resume, though I haven't yet taken the test.

My equity curve was still bouncing around though! So, I went over to simulated mode to grab some real experience. Not the academic type. I gradually did better and better over the course of 3 months and now I can consistently make at least a point a day, on average, in the ES.

Then I discovered a trader by the name of Al Brooks who also just uses a 20EMA and a Elliot Wave on steroids.
His 20 years experience is brilliant. He should really be on the CMT list.
I've been using his style ever since.

I hope you find this journal helpful and if you have any questions please let me know. I'd be happy to answer them.

Happy trading!


Last edited by Maletor; July 8th, 2009 at 04:37 PM.
Reply With Quote
The following user says Thank You to Maletor for this post:
 
  #2 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,233 received

Maletor,

Awesome job.

I never could get BetterVolume to work, the Ninja version just isn't any good whereas the TradeStation version is 'native'.

Today was a tough day on the ES, glad to see you pulled off positive PnL! Looking forward to more of these...

Edit: And you beat me at Tetris to boot!!!
Mike

Reply With Quote
 
  #3 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received


Thanks Mike.

In case there is any confusion in the chart I have my candles set up so if the HA trend is down the candles are outlined red and vice versa for uptrend.

Reply With Quote
 
  #4 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

Market Review

Here are my trades for today.

ES
+1
-6

ZN
-5

First one is a textbook "kicker" candlestick formation.
Two dojis and it's a rule of mine to bail out of the market. No need to sit in traffic if I don't have to.

In retrospect, they were really gravestone dojis so I could have stayed in, but no less I exited for a scratch.

Next one was an aggressive short. Same setup, but a little too far from the guppies.

The ZN trade was also risky. The higher time frame stochastic crossed the 80 and for the short time I've been watching the ZN the stochastic has huge significance. I was going to bail for another scratch but the market came down so fast I couldn't drag my stop up fast enough.

Attached Thumbnails
Maletor's Daily Market Review-picture-2.png   Maletor's Daily Market Review-picture-6.png  
Reply With Quote
 
  #5 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

Swimming up stream again here, but the hammer is a pretty reliable reversal signal, especially on volume constant charts.

The 50% retrace also signaled it was wise to get in.

I was fighting the trend of the day, but staying within the multi-day trend.

ZN
-12 ticks

Attached Thumbnails
Maletor's Daily Market Review-picture-4-2-.png  
Reply With Quote
 
  #6 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,233 received

I didn't know what a pinbar was, so did a quick search and found the attachments. I will check them out (from forexfactory).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Mike

Attached Thumbnails
Maletor's Daily Market Review-pin-bars-introduction.pdf   Maletor's Daily Market Review-pin-bars-advanced.pdf  
Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #7 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

Here's some recent EUR/USD price action.
I hate charts with too many lines, but this one is just too good to pass up.

Attached Thumbnails
Maletor's Daily Market Review-picture-3.png  
Reply With Quote
 
  #8 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

No trades today.
Back to the drawing board.

Reply With Quote
 
  #9 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received

Here's what I came up with over the weekend.

Sharky - you're range charts are fantastic. The 20/20 ZLag, is a beautiful thing, thank you for introducing them to me.

I just wanted to add my own little spice to it.

For a short time I traded 50% retracements on the the ES. It worked wonderfully well when it worked, but not so much when it didn't. I had to stop trading them, because my style was not about finding huge runners.

My style is getting 2-6 ticks and being right about 3 out of 4 times.

With 50% retracements I can be sure something fundamental has changed in the trend to make my trade invalid. And also I can pinpoint my entry with laser sharp accuracy. There is no price action/candlesticks that trades with to the tick accuracy as often as 50% does.

There is definitely a little bit of art involved because you have to define swings and then there are extensions. That beings said, I think a pretty successful trading plan can be drawn up from them combined with what Sharky has generously shown us.

One novelty about ambushes as I have come to understand them is that when you get a swing that works, hold onto that swing, it's more powerful/probable than any other swings. Those are your "boys" so to speak and they are seeing and shorting the exact same levels you are, which is in my opinion why when these things work out they have either to the tick accuracy or are completely blown out.

(Ambushes are not uncommon to floor traders at all, in fact, one common practice is to "run the stops" [on the ambush traders], creating a huge covering rally/ sell off and possible trend change.)

Here's a chart.
Yellow - 50%
Red - 61.8% (trend failure)
Blue - -23.6% (runner target)

Attached Thumbnails
Maletor's Daily Market Review-picture-1-2-.png  
Reply With Quote
 
  #10 (permalink)
Member
Boston
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures/Transact
Favorite Futures: ES
 
Maletor's Avatar
 
Posts: 88 since Jun 2009
Thanks: 7 given, 26 received


ES
+8

ZN
+8
+8
+8

Charts attached

Attached Thumbnails
Maletor's Daily Market Review-picture-2-2-16-18-03.png   Maletor's Daily Market Review-picture-3-2-16-18-03.png  
Reply With Quote

Reply



futures io > > > Maletor's Daily Market Review

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
EasyLanguage Daily Profit and Daily Loss limit in strategy Big Mike EasyLanguage Programming 11 May 12th, 2016 02:50 PM
Market balance indicator review (www.fin-alg.com) traderjcf Trading Reviews and Vendors 7 May 5th, 2014 11:57 PM


All times are GMT -4. The time now is 07:09 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 2017-12-14 in 0.13 seconds with 20 queries on phoenix via your IP 54.226.227.175