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FESX Trading Journal Using GOM Indicators
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FESX Trading Journal Using GOM Indicators

  #11 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

1st Week Summary

My overall result for the first week of paper trading is -77 ticks.
It also seems that I prefer shorting and trend fighting .

In the next week I will try to focus on both sides of trading, though all depending on my pre-market analyses (posted on StockTwits and Twitter, will add it here since next week) and developing market structure.

FOOD FOR THOUGHT:
- Morning checklist was urgently needed (done)
- Do not forget about VALUE, focus on market structure (ongoing)
- More strict definition of my SETUPS (done, filter added, review of the definitions themselves, focus on only one setup where supply meets demand)
- Check on my emotions regularly (ongoing) – it seems that following four days of loosing I got so excited by one winning trade that I wanted to overtrade (fortunately had too much to do ).

Thanks for following me.

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  #12 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
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hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

Pre-market analysis for March 12

Here is my preparation for trading tomorrow with S/R zones.
We moved back to the long-term value.
If there is no sign of rejection tomorrow, the market will probably move only around this magnetic area.

Attached Thumbnails
FESX Trading Journal Using GOM Indicators-pre_market_for_12032012.png  
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  #13 (permalink)
Market Wizard
whitestone, new york
 
Futures Experience: Intermediate
Platform: ninja trader
 
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hadamkov View Post
And not only for the market but for myself, too.

On the attached snapshot it can be seen that I took four trades today, which is the maximum trades that my trading plan allows per day. I also reached my target loss of 5% FOR A WEEK. In case of live trading, I would go back to paper trading.

Since this is a paper trading journal, I am still learning and today the lesson was really valuable, I, of course, will continue to trade.

Trade #1
Screatched - BE. Shorted the first (open) bar correctly, scratched the next bar out of mere fear and uncertainty even before the bar closed.

Trade #2
I assumed that the market could close the opening gap so I entered on the next setup. The setup was MORE OR LESS correct, however I did not manage the trade well even thoug I could see that it did not develop into what I expected and I let the stop loss to be hit.
Loss: 8 ticks per contract

Then, it seemed that I completely forgot to short

Trade #3
The setup was not clear enough, I took it despite of that. I did not manage it well again as I let it hit the stop even though I could see it was not developing as it should (hope and preyers are useless here ).
Loss: 8 ticks per contract

Trade #4
It was a nice setup and around a quite strong S/R area. However, with approaching noon, I knew there was going to be some chop. This trade was just sort of "out of fun". I secretely wished it would go my way but I was not granted that wish.
Loss: 8 ticks per contract

LESSONS LEARNED:
Areas to work on (weaknesses):
Fear again
Fighting the trend
No trade management today (maybe after the first mismanaged trade)
Entry on unclear setup

What to do:
I do need that checklist for the morning (have it in my trading plan, still not ready).
I do need to define my setups more precisely.

I am still learning and I like the way delta was developing today. I spotted a few things to notice in my next trades.

Thanks for reading thus far .

good job creating the journal, a step in the right direction

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  #14 (permalink)
Elite Member
Houston,Tx
 
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I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #15 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

My paper trade for March 12

I am unable to wait for posting later.
Am done with trading today.
Target met.

My first opportunity came before 9.30 so I entered my buy order. Was filled some 10 mins later. All those trapped shorts fuelled the move upwards. After hitting my first target I moved my SL to BE+1. Then my second target was hit.

Result: 8+12 ticks = 20 tikcs for the day. Daily target met.

LESSONG LEARNED:
I had to sit tight on my hands. First, not to hit the CLOSE button, second to keep them warm .

Trading is about patience and sitting tight believing what you see.

AFTERTHOUGH:
It may sound funny but I feel dizzy and my head is spinning. I feel like I have conquered the market. I feel like I know everything about it. What a dangerous thought! I know what I feel. That is why I do not trade today any more.

Thanks for following me.

Attached Thumbnails
FESX Trading Journal Using GOM Indicators-20120312.png  

Last edited by hadamkov; March 12th, 2012 at 07:11 AM.
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  #16 (permalink)
MATrader
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Pre-market analysis for March 13

This is my preparation for tomorrow.

Attached Thumbnails
FESX Trading Journal Using GOM Indicators-pre_market_for_13032012.png  
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  #17 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

March 13, 2012

Today FESX gaped up on the open and the sellers were not strong enough to push the market back. However, I did not get any signal so did not trade the first move upwards. I got a signal for short, however it was approaching noon chop. Still, I entered the short trade, I was just curious if any sellers arrive when there were (or would have been) so many bulls trapped. Sellers did not appear so I scratched my trade at BE.

As you can see from the attached chart, the sellers did not appear afterwards either. However, I could not and mainly did not want to wait so long (I trade only in the morning) - the move upwards started only at some 3.30 PM - three and a half hours after I get out of my trade.


LESSONS LEARNED

Holding my trade was not easy at all. I entered one tick below my inital entry since I got afraid that I would miss it. Than after a long time of waiting, I first moved my stop loss, than I moved my profit targets several times here and there but finally I managed to persuade myself to really close it and let it be. The stop was hit shortly afterwards and I felt relieved I was out.

AFTERTHOUGHT:
I think I forgot about the gap up and lack of sellers. Otherwise I would not enter the trade around noon at all and would let the market be for today.

Attached Thumbnails
FESX Trading Journal Using GOM Indicators-20120313.png  
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  #18 (permalink)
MATrader
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Futures Experience: Beginner
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hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

Pre-market analysis for March 14

This is my preparation.

We are a bit in the unknown now because of new highs. The S/R areas are from a year ago and will not have such impact. Need to look for the development tomorrow.
Need to concentrate on what sellers/buyers do and the structure of the developing day.

Attached Thumbnails
FESX Trading Journal Using GOM Indicators-pre_market_for_14032012.png  
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  #19 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

March 14, 2012

My today's trading was the same as last week.

However, apart from trend fighting there was one more emotion.
After missing the initial move up, I was afraid that I would be left without a trade. So I took my first trade at the completely wrong place, not supported by S/R area. Before entering the trade I drove away that thought and fully realized it as soon as my order was filled.
I still am not able to close out the trade that I entered at the wrong place without any real edge.
Result: -6 ticks per contract.

Second trade was just an attempt and was taking too long.
Result: -3 ticks per contract.

Despite that I made only two trades, I now feel as of I was overtrading.

Also I wanted to be careful today because of the new highs but did not really think about it during trading.

The only thing that I really managed today was to move my stop losses closer.

LESSONS LEARNED:
Believe what you see.

Attached Thumbnails
FESX Trading Journal Using GOM Indicators-20120314.png  
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  #20 (permalink)
MATrader
Prague Czech Republic
 
Futures Experience: Beginner
Platform: S5 Trader, Jigsaw, SeasonAlgo, Sierra Chart
Broker/Data: IB/OEC
Favorite Futures: Eurex Futures
 
hadamkov's Avatar
 
Posts: 489 since Nov 2011
Thanks: 860 given, 391 received

Pre-market analysis for March 15


My preparation for tomorrow. Perfect balance today could have been a sign of long liquidation. We will see if more sellers enter the market tomorrow.

Attached Thumbnails
FESX Trading Journal Using GOM Indicators-pre_market_for_15032012.png  
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