Catching Big Waves - a trader's journal of surfing the the markets - futures io
futures io



Catching Big Waves - a trader's journal of surfing the the markets


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one GaryD with 3,654 posts (2,215 thanks)
    2. looks_two josh with 135 posts (120 thanks)
    3. looks_3 researcher247 with 123 posts (170 thanks)
    4. looks_4 Big Mike with 112 posts (228 thanks)
      Best Posters
    1. looks_one Big Mike with 2 thanks per post
    2. looks_two Deucalion with 2 thanks per post
    3. looks_3 researcher247 with 1.4 thanks per post
    4. looks_4 GaryD with 0.6 thanks per post
    1. trending_up 443,724 views
    2. thumb_up 3,681 thanks given
    3. group 141 followers
    1. forum 4,686 posts
    2. attach_file 1,117 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

Closed Thread
 
Search this Thread
 

Catching Big Waves - a trader's journal of surfing the the markets

(login for full post details)
  #1161 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011



30 minute shows trget just below possible LSP

Started this thread

Can you help answer these questions
from other members on futures io?
Can anyone help convert this pine script to EasyLanguage?
EasyLanguage Programming
Google sheets or Excel templates?
The Elite Circle
Order cumulation
TradeStation
Displaying Individual order entry bars for multiple Brac …
NinjaTrader
What is your favorite indicator for algotrading ?
EasyLanguage Programming
 
 
(login for full post details)
  #1162 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011



Took a little heat, movbed stop to 10 ticks

Started this thread
 
(login for full post details)
  #1163 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


closed +24

Started this thread
 
(login for full post details)
  #1164 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011

I may re-enter, and may just be a little jumpy frmo not trading crude for a month or more, but I saw a volume bar that said to back off

Started this thread
 
(login for full post details)
  #1165 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


Started this thread
 
(login for full post details)
  #1166 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011

Out of practice, yes. Jumpy, yes. Avoided a 30+ tick reversal...

I like this area for a long though and may ride the same path once again.


Started this thread
 
(login for full post details)
  #1167 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011




This is a 15 minute version of the chart that was posted last night showing this area of many major pivots over the past few weeks/months (I can't recall te original chart timeframe)

Crude could still slip a few ticks and the zone could remain valid.


On the 6 -range, it has now caught the market 3 times in a row.


Started this thread
 
(login for full post details)
  #1168 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011

The T3s are starting to tighten and a move up could make an official 6 range reversal now.

Had I not been long-biased based on higher chart structure, using the 6 range alone would have produced a beautiful short. But that is selective backtesting.


Started this thread
 
(login for full post details)
  #1169 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011

Did not take another trade, just watched that fall, thinkng it might be a washout but never got any confirmation.





However, the market did catch at the next zone lower...





Net for the day;

1 trade at 24 ticks


When the market does not meet my plan, and I do not have an equal alternate, I stay out. I miss plenty of great moves that way, and actually miss some of the more spectacular fast ones. But my goal is not to catch every little sway of price. It is to have an EDGE. My best edge is when my chart analysis lines up with actuality. And my analysis will fail on a regular basis. But, it STILL gives me a phenomenal edge, as long as I follow it.

I was ready to trade a bullish market, the market in general had other plans. Being ok with waiting for my turn has been possibly the biggest turning factor in my net profitability. I still maintain an average of roughly only 60% profitable trades, but that is enough to keep me net profitable week after week after week.

Yesterday I played games with myself on scalping and testing, wreckless for my level of experience, but I think I was experiencing crude oil withdrawal and got obsessed with feeling it live to find my balanace again. In hindsight what I did was immature, regardless of the winning day. I got lost for a few hours, seeing if I still understood enough to spot tiny swings. Learning to scalp was also a big part of learning to trade, and so I value that understanding and felt I had let it decline. I had a good profit base from the only real trade and knew I could at least not give it all back, and wanted to see where I was in my scalping. End result; not as good as I once was, or at least not for that day, but still good enough not to hurt myself.

I did have an alternate for a short breakout today below the major trendline, but price is still far from that area. I may take some time tonight and tighten my SR zones some, and may trade either direction based on some smaller timeframe chart criteria. I have been using 240 minute charts recently, which is higher than I typically use, and so that produces gaps of 100-200 or more ticks in trade zones. Therefore, less opportunities, missed moves, etc.

Started this thread
 
(login for full post details)
  #1170 (permalink)
 Deucalion 
Calgary, Canada
 
Experience: Intermediate
Platform: Multiple
Broker: Multiple
Trading: Multiple
 
Deucalion's Avatar
 
Posts: 430 since Aug 2009


That chart you posted, a similar view maybe found in the symmetry around previous day's price. Juxtapose the HLC+P (and SRs) and one can see where price stalled, and then retraced, and then fell again and bounced. This is just a 5M chart, If you do the same with the 60M it is even more telling. As one can see, there are very well defined S/R zones that were respected on the 60M (plus a a lovely Gartley).

Waiting for these "panic" zones takes time, but lends itself to loaded trades. Did I impinge on your journal? Oops! Interesting that different ways to look at the same thing come to to more or less similar views.



Closed Thread

futures io Trading Community Trading Journals > Catching Big Waves - a trader's journal of surfing the the markets


Last Updated on May 23, 2014


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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