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 444,147 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)
  #461 (permalink)
 mfbreakout 
Market Wizard
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
 
mfbreakout's Avatar
 
Posts: 7,254 since Oct 2010
Thanks: 3,476 given, 15,801 received


sysot1t View Post
btw, from your chart comments... there is only one A during the day... I also noticed that you trade 1m charts... so unles price traded for half the OR above/below the A, it wasnt a confirmed A.. an A-up didnt really take place until mid-afternoon.. the rest was just range trading..


1 ) Correct, there is only one A up or A down in a day. I use OR of 8.30 to 9.15 eastern time. My time filter for confirmation is 20 minutes. 2 cyan lines represents OR. Majority of traders in my experience use 5 to 10 minutes OR.
1 minute chart is my execution chart.

2) Before A up confirmation of A up in mid afternoon, per my rules there were couple of trades.

a) Short against failed A up ( price staying below upper cyan line).

b) Long against failed A down ( price failed to break below lower cyan line).

c) Finally A up confirmation in mid afternoon for longs.

With 30 days number line of 9 in the background, ACD traders were not surprised by the strength of the move.

Glad to finally met someone who trades CL using ACD system.

Thx.

Visit my futures io Trade Journal

Can you help answer these questions
from other members on futures io?
Displaying Individual order entry bars for multiple Brac …
NinjaTrader
How many bars have passed since daily high
ThinkOrSwim
NFP
TradeStation
Server Sepcs
TradeStation
Bookmap replay files
Platforms and Indicators
 
 
(login for full post details)
  #462 (permalink)
 sysot1t 
 
 
Posts: 1,176 since Nov 2009


mfbreakout View Post
1 ) Correct, there is only one A up or A down in a day. I use OR of 8.30 to 9.15 eastern time. My time filter for confirmation is 20 minutes. 2 cyan lines represents OR. Majority of traders in my experience use 5 to 10 minutes OR.
1 minute chart is my execution chart.

2) Before A up confirmation of A up in mid afternoon, per my rules there were couple of trades.

a) Short against failed A up ( price staying below upper cyan line).

b) Long against failed A down ( price failed to break below lower cyan line).

c) Finally A up confirmation in mid afternoon for longs.

With 30 days number line of 9 in the background, ACD traders were not surprised by the strength of the move.

Glad to finally met someone who trades CL using ACD system.

Thx.

I prefer BRN, not CL... but yes... on CL, the unconfirmed attempt to A-down against a PVR(since the A-down line was engulfed by it), should have been a signal to scalp for a long in the morning and entering the trade with a small posistion, after all, the stop was known... and then adding to that position in the afternoon... but again, I dont trade CL.. I only trade EU markets and their hours...

 
(login for full post details)
  #463 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,837 received


I think we have successfully chased @GaryD away.

Visit my futures io Trade Journal
The following user says Thank You to bluemele for this post:
 
(login for full post details)
  #464 (permalink)
 mfbreakout 
Market Wizard
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
 
mfbreakout's Avatar
 
Posts: 7,254 since Oct 2010
Thanks: 3,476 given, 15,801 received


bluemele View Post
I think we have successfully chased @GaryD away.

I hope not. I still need to learn a lot. I think he has been travelling.

Visit my futures io Trade Journal
The following user says Thank You to mfbreakout for this post:
 
(login for full post details)
  #465 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011




I have been traveling for the past 3-4 weeks and have not even opened a chart or read trade news until this weekend. I have missed a lot of trading action over the past month. I have no idea what the news has been, or why crude has done what it has, but my first take tonight is if I was trading live, I would be looking for a long entry in one of the three support zones shown above. I probably won't trade live for another week or so, I feel somewhat alienated from the markets right now. But I will get back into simulated trading most likely on Monday morning.

Crude looks like it may have found it's base and had a great divergence bottom recently, but a long in the area of Friday's close has some resistance to break through. Sunday overnight could change that. I did read some interesting trade articles recently, one from Ed Seykota where he commented he liked to enter a trade where a lot of traders would think the market has exhausted itself. From that take, maybe this is the place to go long? Maybe next year, after I digest that comment...

If I have missed posts or comments I apologize. If I can't focus for an extended period I have learned not to even try, so I avoid being tempted to pass up something that appears "too good". I did receive some emails from posts I subscribe to, some of it criticism. My method is not for everyone, and my style is not perfect. When I get caught up I will get through the comments and see if anything constructive comes from it.

I did some solid backtesting for the past 24 hours or so and have some old charts I have brought back up. May not keep them on the screen after this week, but searching for a solid foundation after so much time away.

What has been nice about such a break was that even without a chart, I thought about the psychology of trading nearly every day at some point, and had some advances in understanding myself which I expect will benefit my trading. Most enlightening was an insight into why I was never content to trade for 10-15% annual returns. It is obvious that drive has been a destructive force in the past, but it also provided the tenacity to keep going when I felt broken and exhausted. It was an all or nothing pursuit for me, whether that mindset is right or wrong, and "nothing" is the easier of the two...

Started this thread
 
(login for full post details)
  #466 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,138 since Jun 2009
Thanks: 32,638 given, 98,939 received

Welcome back

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #467 (permalink)
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


GaryD View Post
And just becasue the confluence just keeps coming, here is the same chart with two more fib additions that fall right in the middle of the previous mix;

1) The displaced exhaustion alternate from possible wave 1 down (April-June 2011)
2) An exhaustion extention from the same presumed wave 1

And for fun, the white line is the 200 week EMA



That sure was a good zone. Why don't they stand out so strong in real time

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


josh View Post
Gary, this is my 60m chart and the zone I drew last night (shaded in blue). It is primarily based on the POC of the entire down move, good to see that your confluence zones line up with what I have here, though after the strength today I'll be careful with shorting.

EDIT: for any pivot followers, the weekly pivot is right there as well. Also looks like the red lines I drew (again, based solely on the profile) also are very similar to the lines you have above (except maybe the top one). Interesting how different methods of analysis can have similar targets.


I studied some on the POC, but never went very far with it. It was Larry Levine's course, and they also had a heavy emphasis on volume ladders and pivot points, but it got very hard on my eyes to follow their method the way they recommended. It felt trance-like. Have you seen his stuff? What I really liked the most from him was the mental training and visualization more than the indicators, but I would believe his method works.

If you found the same zones through other means, as you mentioned, that only adds strength to the trade. I can't provide any proof to this theory, but a belief I have is that when you start getting an overwhelming amount of confluence from technical analysis, what adds so much strength to it is that that means more and more traders are going to be looking at the same area. Some focus on fibonnaci, others on pivot points, others on different timeframes, and when they all say roughly the same thing, we get volume participation in that area and it fulfills itself, at least short to mid term.

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

The case for "up" being the correct direction;

Crude completed a somewhat awkward 5WM, ending in a double bottom (green arrows), then raced back above the previous major high pivot (red arrow). That high was also an area of interest in that it was a prior major double bottom and the neckline of a prior major H&S (blue arrows). Crude also broke the downward red trendline.

There are several potential areas for support. If crude can make a move down and then re-establish an upward momentum, that will help give more clarity to the potential future structure.


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





The chart above is from a post last week. Support 1 has held so far, and crude is once again in the overhead resistance area.

Below is today's chart. Long is still the correct direction of the moment, but the 93 shows an overbought condition with momentum divergence. Short term support seems to be creeping up, but defined resistance continues to loom overhead, so price should get a lot of pressure from both sides in this area.


Started this thread

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