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Miltons Lost Paradise Daytrading Journal
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Created: by ollivermilton Attachments:15

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Miltons Lost Paradise Daytrading Journal

  #11 (permalink)
Elite Member
Linz / Austria
 
Futures Experience: Intermediate
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ah i see...
i got this one new just a couple of days ago...
i am just using it for overall priceaction and the bigger picture but i am not really paying attention to it in detail since price action in general is also very subjective and it doesnt really help in timing entries or exits...
but its kinda useful when you need to have a quick look at a bigger chart and you see those HH HL pointed out...

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  #12 (permalink)
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hi traders!
--
i call it the day...
i have done two trades today...
--
first my vision was that we will retrace from the 38 on the 10K chart for a deep retracement and then continue more to the downside. so i thought that i am very smart and go long to get the point from the 38 to the deep. i waited to find an entry at the 987 but there was a lot of blurry pushing going on at the midband. finally i found an entry and went long. but just seconds after i entered my trade i could see the macdbb starting rolling over to go short. so i exited break even. and i immediatly went for a short.
the reason why i was going long in the first place was that i expected a much deeper retracement to the upside, also the priceaction gained momentum and and the large triggers started to widen which usually is a sign of strenght. also the bars of the 5 minute chart were breaking out of the downtrend. although it was a risky trade because the overall trend is/was down. so i am lucky to got out BE.

the short was clearer to me. after i got out of my long trade i saw that priceaction actually isnt going to make a new high and that we have actually made a lower high on the 987. the macds started to roll over and by looking at the 1597 chart i saw that we are seeing also rolling over macds. also by looking into the past the area of resitance is strong to the upside plus the overall trend was down.

my first target was the doublebottom at the 987 which got executed. i trailed the second half of my order by using the last pivots.

i made 5.25 point with the first half. and 6.25 with the second half of my position.

--
have a good day!


milton


P.S. there will be no trades tomorrow as i got to work.

Attached Thumbnails
Miltons Lost Paradise Daytrading Journal-141120111597es.png   Miltons Lost Paradise Daytrading Journal-141120111597tf.png   Miltons Lost Paradise Daytrading Journal-14112011esbtf.png  
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  #13 (permalink)
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sry... something didnt work with my previous screen...
below you find a new 1597 chart...

Attached Thumbnails
Miltons Lost Paradise Daytrading Journal-14111597chart.png  
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  #14 (permalink)
Elite Member
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a very inspiring video by jeffrey tucker....

get a glass of bourbon, smoke a cigarette and enjoy the lecture...

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  #15 (permalink)
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take the money and run

a tough day...
i guess it was the news... too much news for my taste....
i had a clear vision when i first started but i screwed it because i wasnt feeling very comfortable with my position... the market moved different than usual so i moved my SL to + 2 ticks... of course the market retraced and my SL got triggered.... if i would have left my SL below the midband i would have cought the whole long trade and i wouldnt have done anymore mistakes...
--
my second trade was short... i have taken this one because the midband was broken, we had strenght at the macd, small triggers have been wide and the large triggers showed weakness in the current upmove... after my position was positive i moved my SL to BE... it got filled a second afterwards... hehe

i tried another short, also break even.

then i went short again and got taken out. - 1,25 points.

and then another short which made up my losses...

so i am + 100 USD for this day... the market isnt not clear to me anymore so i take the money and run...
i will be back tomorrow...

next time i should take it easier with my SL and relax and the let the position work its potential out...

have a good day and good luck!

wild wishes
milton

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Miltons Lost Paradise Daytrading Journal-16112011es.png  
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  #16 (permalink)
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MA's

Olliver great charts. May I ask what the green and yellow indicators are that are encompassed within your keltner channel and what the settings are.

Thanks
Hector

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  #17 (permalink)
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hi hector!
--
thx for reading my journal!
--
the yellow & green big lines are my large triggers.

lin. reg. (80) & Ema (lin. reg. (80), 20)
--
when the triggers are falling they turn yellow, green when they are rising.... thats just a fancy gimmick... nothing special...
--
stay tuned!

cheers

milton

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  #18 (permalink)
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Lines

Thanks Olliver I really appreciate it. Looks like it at least gives you some since of direction.
Great journal you are starting, keep it up. Would like to see your results as they are developing.

Thanks
Hector

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  #19 (permalink)
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- 8.5 pt

hm.... well...
i dont know where to start..
i have learned a couple of lessons today....
but at first, i just wanna say this was the worst day of trading ever for me...

i think the major reason why i got it all wrong was because i had a lot of other stuff on my mind and i wast prepared at all for this day...

but my performance and behaviour was so bad that i am actually embarrased of myself. i have broken nearly every rule that i have and i wanst even concentrating on the trades. i had poor entries, no vision, poor moneymanagement, poor trade handling, poor patience, poor chart reading, poor reading of the indicators. and the worst thing is that i knew all this even before i started trading but even then i choose to participate. this was a classic "jump out of the window" day...

some could say: heads up... its only sim... but for me its still a shame because it is not about the money it is more about showing disciplin in applying to my own structure and guidelines... today this wasnt doable for me...

after i went into losses i tried to catch all up and it got worse.. actually this is one of my golden rules... but for some reason my inner demon gave a s*** about it...

never trade when you are not prepared and did no analysis of the market.... also one of my rules... but today i acted like i never heard this before.... it was like driving a porsche after a bottle jacky before you even drove a usual car...

entries... are clearly defined... today i was lost in the chart... i chased trades and then i got a bad fill and it all went against me... usually i dont have a problem with reading charts and waiting for set ups... today it was like i am mentally retarded or drunk or whatever...

SL... terrible today... i dont know what i was thinking... probably nothing special...

vision... i knew it was long but i believed for some reason i am smarter than anyone else and went short....

the markt was again newsdriven.... thats really hard to trade... actually its silly to participate in this condition... i never do this usually... but today i was somebody else...

but... i guess this was a lesson that i had to learn... i take the bitter pill failure and swallow it and call it the day... this are my 15 minutes or trades of shame...

but i will be back tomorrow...

--
* never trade when your mind isnt clear
* be patient
* only trade when your vision is clear
* only trade what you see and not what you might expect that might will occour maybe sooner or later...
* stick to your structure
* call it the day when things are not running
* never chase a trade
* never try to make up losses
* never try to hard, relax, think through and go with the flow
* never overtrade your account and destroy previous profits
* protect your wealth
--

good luck!

wild wishes

milton


Attached Thumbnails
Miltons Lost Paradise Daytrading Journal-17112011es.png  

Last edited by ollivermilton; November 17th, 2011 at 01:08 PM.
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  #20 (permalink)
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Let it go!!!!!!!!!


Every trader has these days.

You can easily make this back in a few days.

It happened to me also today except I scalped my way back to even with a WHOLLLLEEEE bunch of trades and I didn't even deserve it. I was acting like it was SIM. I do that it seems less and less, but getting better.

You are a good trader, hang in there!

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