Short term TF trading - futures io
futures io



Short term TF trading


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one indextrader7 with 449 posts (941 thanks)
    2. looks_two josh with 36 posts (46 thanks)
    3. looks_3 Victory Trader with 26 posts (3 thanks)
    4. looks_4 cmmichaels with 21 posts (16 thanks)
      Best Posters
    1. looks_one SteveH with 2.7 thanks per post
    2. looks_two indextrader7 with 2.1 thanks per post
    3. looks_3 Traderwolf with 1.6 thanks per post
    4. looks_4 josh with 1.3 thanks per post
    1. trending_up 112,172 views
    2. thumb_up 1,209 thanks given
    3. group 90 followers
    1. forum 797 posts
    2. attach_file 283 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)

 
Search this Thread
 

Short term TF trading

(login for full post details)
  #101 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I realized over the weekend that my trading for the year has been TERRIBLE. Even though I've been quite profitable with minimal drawdowns... the actual trading has been just awful.

Things I've noticed about my trading up to this point:

I've often been "lost" with no bearing as to potential swings of the market- from being too glued to tiny 50 tick timeframe and not seeing the "bigger" picture. So I will now trade more of the 250 tick swings. Often times that will only be a 10 tick profit target, but sometimes it will be 20 or more.

Loading up on too many contracts. So now I say to you the max position size allowed is 4 contracts.

I have to go for now, but there's more.

Get ready for a new IT7.

Reply With Quote
 
(login for full post details)
  #102 (permalink)
zr1trader
St. Cloud MN
 
 
Posts: 15 since Feb 2011
Thanks: 0 given, 6 received


indextrader7 View Post
I realized over the weekend that my trading for the year has been TERRIBLE. Even though I've been quite profitable with minimal drawdowns... the actual trading has been just awful.

Things I've noticed about my trading up to this point:

I've often been "lost" with no bearing as to potential swings of the market- from being too glued to tiny 50 tick timeframe and not seeing the "bigger" picture. So I will now trade more of the 250 tick swings. Often times that will only be a 10 tick profit target, but sometimes it will be 20 or more.

Loading up on too many contracts. So now I say to you the max position size allowed is 4 contracts.

I have to go for now, but there's more.

Get ready for a new IT7.


I like it, sometimes we all need to take a little step back and re-asses what we are doing. I didn't see the thread for a while at et, good to see it continuing. I'm mostly just a lurker here but I'll be lurking.

All the best.

Reply With Quote
 
(login for full post details)
  #103 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


zr1trader View Post
I like it, sometimes we all need to take a little step back and re-asses what we are doing. I didn't see the thread for a while at et, good to see it continuing. I'm mostly just a lurker here but I'll be lurking.

All the best.

Good to see you here zr1

Reply With Quote
 
(login for full post details)
  #104 (permalink)
SteveH
Orlando, Florida, USA
 
 
Posts: 34 since Oct 2010
Thanks: 3 given, 96 received


cma6 View Post
Steve, can we infer from your comment that you are basically a breakout trader as opposed to a range trader?

No...both. The scale-in is done on a bar-by-bar basis, not on a price swing basis (as the forum host had shown recently in an unsuccessful trade sequence). Basically, you want successively higher HLC's (high, low, closes per bar) in a rising price segment or lower ones in a falling price segment to qualify adding. [A "price segment" doesn't have discernible "legs" to it on the same time frame as you're trading it on; therefore, it exists in ranges and trends]

From a money management point of view, you're keeping your draw-down per trade fairly fixed and relatively small while *not* limiting the positive effects of the contract leveraging on the trade, regardless of how long the price segment may turn out to be.

Reply With Quote
The following user says Thank You to SteveH for this post:
 
(login for full post details)
  #105 (permalink)
cma6
Concord, NH, USA
 
 
Posts: 2 since May 2012
Thanks: 1 given, 0 received

I understood this valuable insight with the exception of this: " [A "price segment" doesn't have discernible "legs" to it on the same time frame as you're trading it on; therefore, it exists in ranges and trends]".
I figured that a "price segment" was simply a HLC bar in whatever time-frame your chart is.

Reply With Quote
 
(login for full post details)
  #106 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Long off the pullback to the gap fill level

Reply With Quote
 
(login for full post details)
  #107 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Long for 2nd retest of same level.

Reply With Quote
 
(login for full post details)
  #108 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Took half off, added half back on pullback, just took half off again.

Reply With Quote
 
(login for full post details)
  #109 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

OUT

Reply With Quote
 
(login for full post details)
  #110 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Will be looking for a short in this area

Reply With Quote
 
(login for full post details)
  #111 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

expectation now for breakout

Reply With Quote
 
(login for full post details)
  #112 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Long, will take half off at resistance and allow rest potential for breakout.

stop adjusted to 88.1 below 250 tick swing low

stopped

Reply With Quote
 
(login for full post details)
  #113 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

PRIMO example of how I create a belief/expectation which causes my brain to only see information that support my belief. The 250 tick swings showed a failure to break resistance, and a weak pullback to retest (perfect short setup).

Reply With Quote
 
(login for full post details)
  #114 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

long pullback off support, looking for retest of highs.

stopped, but re-entered at 89.1

10:32 scratched at B.E.

Reply With Quote
 
(login for full post details)
  #115 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Long this pullback as we test the most recent swing low. Will probably manage stop loss tighter than it is currently.

2:04 stopped at 92.2, no more patience for this trade not developing as planned.

Reply With Quote
 
(login for full post details)
  #116 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Breakeven on the day. First day trading using ninjatrader, so other thoughts and issues got in my way. The orders on the chart were getting in my way at times, and I don't like how it doesn't connect the entries and exits for easy end of day trade review. Not to say I didn't make trading mistakes today. A few losers held on to for too long, a few impatient entries, etc. Here are two pics showing all the trades I made today. Too many trades. Frustrated.


Reply With Quote
 
(login for full post details)
  #117 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Mistakes today:
1. Frequent mistake of mine, expecting a continuation way too quickly after a breakout begins to pull back. = impatient = fear of missing out

2. Chasing price around on smallest timeframe = impatient = fear of missing out

3. long an absolute falling knife, no confirmation, only getting NEAR a support level, not to it yet.

4. long after multiple failed attempts at resistance level? sheesh

5. long right at a resistance level again?

6. IF I TAKE A SCALP TRADE, IT NEEDS TO BE MANAGED AS SUCH WITH MUCH TIGHTER MANAGEMENT.

7. Too quick on the breakout pullback again.

8. Price breaks out, pulls back to level, and starts up again... so of course it makes sense to go short...

There were some good things amongst the bad.

Reply With Quote
 
(login for full post details)
  #118 (permalink)
SteveH
Orlando, Florida, USA
 
 
Posts: 34 since Oct 2010
Thanks: 3 given, 96 received


cma6 View Post
I understood this valuable insight with the exception of this: " [A "price segment" doesn't have discernible "legs" to it on the same time frame as you're trading it on; therefore, it exists in ranges and trends]".
I figured that a "price segment" was simply a HLC bar in whatever time-frame your chart is.

"price segment" is what most call a "price leg".

Reply With Quote
 
(login for full post details)
  #119 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Come on trend... be my friend.

Reply With Quote
 
(login for full post details)
  #120 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Exits shown on smaller timeframe chart.

Reply With Quote
 
(login for full post details)
  #121 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Done for the day. Trade recap video to follow.

Reply With Quote
 
(login for full post details)
  #122 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Today was a scalping day, as you'll see. Let me know if there's any questions/feedback/comments/etc, especially areas for improvement!

Screenr - indextrader7: 5-8 trade recap

I'm not wanting to continue the extra step to move the video over to youtube. I'd like to just use the screenr site if that's ok with you guys ( I think they lose quality when transferred to youtube anyways)

@BigMike do you know how to embed a video here from screenr? I can't get the link or embed code to do it.

Reply With Quote
 
(login for full post details)
  #123 (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: 50,094 since Jun 2009
Thanks: 32,557 given, 98,584 received

Just upload a mp4 or flv file directly to futures.io (formerly BMT) as an attachment, and it can be played on futures.io (formerly BMT) instantly.

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 Reply With Quote
 
(login for full post details)
  #124 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Reply With Quote
 
(login for full post details)
  #125 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Reply With Quote
 
(login for full post details)
  #126 (permalink)
 WarEagle 
Birmingham, AL
 
Experience: Intermediate
Platform: SierraChart
Broker: DDT/Rithmic
Trading: TF/ZN/CL
 
WarEagle's Avatar
 
Posts: 30 since Apr 2010
Thanks: 56 given, 25 received


indextrader7 View Post
PRIMO example of how I create a belief/expectation which causes my brain to only see information that support my belief.

If I had a dime for every time I have done that...

We are definitely wired to see patterns, especially if there is a financial benefit from them coming to completion. I battle this everyday.

Reply With Quote
The following user says Thank You to WarEagle for this post:
 
(login for full post details)
  #127 (permalink)
 Nicolas11 
near Paris, France
 
Experience: Beginner
Platform: -
Trading: -
 
Nicolas11's Avatar
 
Posts: 1,071 since Aug 2011
Thanks: 2,232 given, 1,755 received

Hi,

Thanks a lot for your journal.
Apparently, you are mastering a psychological feature that I am trying to acquire myself: you stay calm and rational even in case of a series of losing trades, because you know that you have a statistical edge. Well done!

Nicolas

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #128 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Up pretty huge today. Here's the current trade.


11:10 Stopped out

Reply With Quote
 
(login for full post details)
  #129 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Ok, so looking at the lower timeframe, we can see the previous trade I posted stopped out around 11:09.

After that I took one short position for the breakout, added to the position on a pullback, took profits at the breakout level in case it reversed.

Next I took two short positions on a pullback up to the breakout level, and just recently took profits on that.

Reply With Quote
 
(login for full post details)
  #130 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Done for the day. I need some sleep, will do a recap later today.

Reply With Quote
 
(login for full post details)
  #131 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Reply With Quote
 
(login for full post details)
  #132 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Did anyone else also HATE the way TF traded today? I thought it was just hideous. I'm looking at CL right now wishing I had traded it.

Reply With Quote
 
(login for full post details)
  #133 (permalink)
 Wojo 
Chappaqua, NY
 
Experience: Intermediate
Platform: SC
Trading: CL
 
Posts: 28 since Jan 2012
Thanks: 35 given, 6 received

Ive been trading the TF for about a week now on SIM and today was by far the toughest market conditions I have encountered on it. It felt like there were a lot of competing algos battling it out, but CL can be just as choppy and unforgiving, sometimes more so.

Reply With Quote
 
(login for full post details)
  #134 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Wojo View Post
Ive been trading the TF for about a week now on SIM and today was by far the toughest market conditions I have encountered on it. It felt like there were a lot of competing algos battling it out, but CL can be just as choppy and unforgiving, sometimes more so.

Agreed. Looking back on it, I really am surprised I made money today.

Reply With Quote
 
(login for full post details)
  #135 (permalink)
 Wojo 
Chappaqua, NY
 
Experience: Intermediate
Platform: SC
Trading: CL
 
Posts: 28 since Jan 2012
Thanks: 35 given, 6 received

I'm boggled that you came out so far in the black....I looked at those numbers and thought WTH LOL!!?? Good market navigation on your part though! I got my face beaten in sim

Reply With Quote
 
(login for full post details)
  #136 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Screenr - indextrader7: 5-9-12 Trade Recap

Pure crazy person trading me thinks... such high intensity to do it. I took a couple hour nap when I finished the session.

Reply With Quote
 
(login for full post details)
  #137 (permalink)
toucan94506
danville ca usa
 
 
Posts: 51 since Mar 2012
Thanks: 6 given, 41 received


indextrader7 View Post
Did anyone else also HATE the way TF traded today? I thought it was just hideous. I'm looking at CL right now wishing I had traded it.

TF price action was really crazy today. The bars were too large for me to take a trade. The moves had a lot of counter moves that would have taken me out of almost any trade that I thought about taking. And, there were a lot of reversals which I really suck at trading. With no real clear price direction, I skipped trading TF for today. Focused on other symbols for trading today.

Bottom line is you still did good today. congrats. I just can't get that crazy high intensity trading ball rolling....

cheers

toucan

Reply With Quote
 
(login for full post details)
  #138 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Reply With Quote
 
(login for full post details)
  #139 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Man.... so, I had taken half my position off, and had 4 contracts long left on the trade. I was using an ATM and T1 AND S1 were gone because T1 was hit. So only T2 and S2 still working (each for the full 4 contracts).

I wanted to split those orders into two seperate targets and stops (two contracts each). So, I watched a video on how to do it yesterday, and it involves pulling up a DOM, going to properties, and enabling quick buttons or whatever they're called. Then on the DOM you hit the "Target +" button, and that's supposed to split up the order into two parts.

Well, it got me out at market and I missed the perfect move up to my orig target.

What did I do wrong? How should have I done this?

Reply With Quote
 
(login for full post details)
  #140 (permalink)
 Wojo 
Chappaqua, NY
 
Experience: Intermediate
Platform: SC
Trading: CL
 
Posts: 28 since Jan 2012
Thanks: 35 given, 6 received

I noticed you trade before the stock market opens, have you ever analyzed your trades in premarket versus during market hours? Being more or less profitable during certain times of the day?

Reply With Quote
 
(login for full post details)
  #141 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Wojo View Post
I noticed you trade before the stock market opens, have you ever analyzed your trades in premarket versus during market hours? Being more or less profitable during certain times of the day?

This is only since monday (since I switched to NT)

Reply With Quote
 
(login for full post details)
  #142 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Reply With Quote
 
(login for full post details)
  #143 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Ok, I'm done for the day. Would you guys like a video for:

A) Normal trade recap?
B) How I analyze and define the trend?
C) How I manage a trade once I'm in it?
D) Stats video?
E) How I pick my entries?

FYI... I think B is the most important, followed by C, and then least important is E... but whatever you guys want.

The one that gets the most votes wins. A, B, C, D, or E ?

Reply With Quote
 
(login for full post details)
  #144 (permalink)
 greenr 
london/england
 
Experience: Advanced
Platform: Sierra charts, NinjaTrader, VK Trader
Broker: CQG, AMP, VK, Kinetick
Trading: CL/6E/TF/ES
 
Posts: 952 since Sep 2011
Thanks: 562 given, 1,279 received


indextrader7 View Post
Ok, I'm done for the day. Would you guys like a video for:

A) Normal trade recap?
B) How I analyze and define the trend?
C) How I manage a trade once I'm in it?
D) Stats video?
E) How I pick my entries?

FYI... I think B is the most important, followed by C, and then least important is E... but whatever you guys want.

The one that gets the most votes wins. A, B, C, D, or E ?

Can you explain to me what method/style/plan you have when you wake up lol

You look like your doing very well, but i cant grip what your actual method is

Excuse me if i have not read through you journal in detail yet, just flicked through and seen many diffrent charts ect lol

cheers

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Reply With Quote
 
(login for full post details)
  #145 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


greenr View Post
Can you explain to me what method/style/plan you have when you wake up lol

You look like your doing very well, but i cant grip what your actual method is

Excuse me if i have not read through you journal in detail yet, just flicked through and seen many diffrent charts ect lol

cheers

Well then, vote for what you would like to have me do a teaching video on.

But my overall "method" is:

1) Define market structure with support/resistance.

2) Define what's going on... uptrend, downtrend, rangebound within the overall market structure

2) Trade tests of levels, pullbacks within trends, etc, etc = discretionary price action setups that make sense, given the market structure and trend.

That's it. Sometimes I put keltner bands on the charts to get a feel for how price flows within it. I use multiple timeframes (short, med, and long) to get a good picture of 1 and 2 listed above.

Reply With Quote
 
(login for full post details)
  #146 (permalink)
toucan94506
danville ca usa
 
 
Posts: 51 since Mar 2012
Thanks: 6 given, 41 received


indextrader7 View Post
Ok, I'm done for the day. Would you guys like a video for:

A) Normal trade recap?
B) How I analyze and define the trend?
C) How I manage a trade once I'm in it?
D) Stats video?
E) How I pick my entries?

FYI... I think B is the most important, followed by C, and then least important is E... but whatever you guys want.

The one that gets the most votes wins. A, B, C, D, or E ?


Indextrader7..... my vote is B, then E, then C

that is: How you analyze and define the trend, how you pick your entries, and how you manage the trade (i see you are using targets in ninja).

thanks

toucan

Reply With Quote
 
(login for full post details)
  #147 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I'm doing ONE video today guys.

Pick one.

Reply With Quote
 
(login for full post details)
  #148 (permalink)
 Wojo 
Chappaqua, NY
 
Experience: Intermediate
Platform: SC
Trading: CL
 
Posts: 28 since Jan 2012
Thanks: 35 given, 6 received

I vote for B, then C. But honestly Any of your videos are really informative.

Reply With Quote
 
(login for full post details)
  #149 (permalink)
 bingo17 
toronto canada
 
Experience: Intermediate
Platform: Ninja
Trading: CL
 
Posts: 54 since Jan 2010

E gets my vote

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #150 (permalink)
 catdriver 
Hot Springs, Arkansas
 
Experience: Beginner
Platform: ninja
Broker: optimus
Trading: ES
 
catdriver's Avatar
 
Posts: 30 since Feb 2012
Thanks: 234 given, 40 received

voting for B

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #151 (permalink)
toucan94506
danville ca usa
 
 
Posts: 51 since Mar 2012
Thanks: 6 given, 41 received

ok.... i'm voting for E

Reply With Quote
 
(login for full post details)
  #152 (permalink)
 Nicolas11 
near Paris, France
 
Experience: Beginner
Platform: -
Trading: -
 
Nicolas11's Avatar
 
Posts: 1,071 since Aug 2011
Thanks: 2,232 given, 1,755 received

Hi,

I vote for B.
(and congratulations again for your journal!)

Nicolas

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #153 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

OK, Nicolas. That breaks the tie. B (Trend) wins 3-2.

Poll is closed. I'll do the video.

Reply With Quote
 
(login for full post details)
  #154 (permalink)
 stillgrinding 
Palm Beach, Florida, USA
 
Experience: Intermediate
Platform: Ninjatrader, ThinkorSwim
Trading: Futures, US stocks
 
Posts: 5 since Mar 2012
Thanks: 4 given, 1 received

I guess I just missed the poll. I look forward to it...

Reply With Quote
 
(login for full post details)
  #155 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

This will be the first video of two. In this video we have a nice example of a full cycle

downtrend ends- uptrend begins - uptrend ends - downtrend begins

Notice the one end and one beginning is not the same thing. Price must accept the new trend level to validate it.

Screenr - indextrader7: Trend analysis.

2nd video to come, showing a much more messy example.

Reply With Quote
 
(login for full post details)
  #156 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

This is probably just as important as the first video. It shows how (more times than not) things aren't perfect, but you look at how price behaves at those key levels and it will let you know.

Screenr - indextrader7: Trend video two. Messy example.

Reply With Quote
 
(login for full post details)
  #157 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Trades taken today: (keep in mind each point isn't an individual trade because I scale in/out)


Daily P/L for this week:

Reply With Quote
 
(login for full post details)
  #158 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Down day today. Got out of the flow for a good while today and ended up in a drawdown. Would keep trading, but I have to leave for a bachelor party this weekend in New Orleans. Have a great weekend.



Reply With Quote
 
(login for full post details)
  #159 (permalink)
 Wojo 
Chappaqua, NY
 
Experience: Intermediate
Platform: SC
Trading: CL
 
Posts: 28 since Jan 2012
Thanks: 35 given, 6 received

thanks for your update, just curious in your next video that you do can you go over how you manage a trade? I find this is more important than a perfect entry anymore.

Reply With Quote
 
(login for full post details)
  #160 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Wojo View Post
thanks for your update, just curious in your next video that you do can you go over how you manage a trade? I find this is more important than a perfect entry anymore.

Sure. Although, sometimes it's rather subjective. But I'll do a video and talk about what I usually do, and what I watch for.

Reply With Quote
 
(login for full post details)
  #161 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Buenos dias.

I needed an extra day to recover after my New Orleans bachelor party weekend, so I spent Sunday evening and yesterday with my mother for mother's day.

Good to be back trading today. It was also good to get away for a long weekend and not think about trading for a while (I can be obsessive about it).

I'm probably done for the day today, and will work on a trade mgmt video as requested.

Reply With Quote
 
(login for full post details)
  #162 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

As I said, I did not trade yesterday. Here's today's results. Overall decent, but I had one loser that was too big for my liking so it hurt the performance a bit. Still a profitable day.
Here are the trades today:


and here is this week's daily P/L

Reply With Quote
 
(login for full post details)
  #163 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Screenr - indextrader7: Trade Management

As you can see. This is REALLY not rocket science. Simply using support and resistance levels on my shorter and longer timeframe charts to find areas where there might be opposing orderflow (previous swing levels) and placing stops, as well as profit targets, that make sense - given that market structure.

Reply With Quote
 
(login for full post details)
  #164 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Screenr - indextrader7: Trade Management (Part 2)

Reply With Quote
 
(login for full post details)
  #165 (permalink)
 cmmichaels 
London England
 
Experience: Intermediate
Platform: Metatrader
Trading: Spot $
 
Posts: 91 since Apr 2012
Thanks: 1,075 given, 149 received

Thank you so much for this thread and all the videos and time you have put in, I have read so many books and threads and journals this is easily one of the best things I have come across since I started.

Thank you!

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to cmmichaels for this post:
 
(login for full post details)
  #166 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Makes me very happy and satisfied to see that my work here is helping some people. Good stuff.

Positive on the day.
Here's the trades today (a good many small winners because I kept going for larger profits and the markets were chopping around not giving it up)


And the daily P/L for the week (didn't trade Monday)


Overall, for me, this was one of those really rough/difficult trading days, but I stayed in the right mindset and was able to walk away slightly profitable. So today is actually a big win day.

Reply With Quote
 
(login for full post details)
  #167 (permalink)
 catdriver 
Hot Springs, Arkansas
 
Experience: Beginner
Platform: ninja
Broker: optimus
Trading: ES
 
catdriver's Avatar
 
Posts: 30 since Feb 2012
Thanks: 234 given, 40 received

Hi IT7,

First off, great journal,

it's nice to see a pure (my definition) trader doing it and doing it well.
I'd like to echo @cmmichaels post and say that i hope your videos and time posting
is helping you as much is it is us

Secondly, i'd like to request that on your next daily recap, you go over your entry's
and which chart (2 range or 250 tick) do you use for them primarily, or is it a heat of
the battle, seat of your pants type thing.

Looking back on a few of your videos, i see your entry's are sometimes little double
tops (bottoms) on the range chart or they could be price action related on the 250tick.

...just wondering and once again from one SEC'r to another, thanks

Mike

Follow me on Twitter Reply With Quote
 
(login for full post details)
  #168 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


catdriver View Post
Hi IT7,

First off, great journal,

it's nice to see a pure (my definition) trader doing it and doing it well.
I'd like to echo @cmmichaels post and say that i hope your videos and time posting
is helping you as much is it is us

Secondly, i'd like to request that on your next daily recap, you go over your entry's
and which chart (2 range or 250 tick) do you use for them primarily, or is it a heat of
the battle, seat of your pants type thing.

Looking back on a few of your videos, i see your entry's are sometimes little double
tops (bottoms) on the range chart or they could be price action related on the 250tick.

...just wondering and once again from one SEC'r to another, thanks

Mike

Doing this has been helpful to me too. I think the biggest way is that it causes me to clarify/quantify my own (often subconscious) methods when people ask me how I do this or that.

I can go over entries, sure.

You're on to something there about the multiple timeframes. Often times a price action pattern on a smaller timeframe will simply be a candlestick pattern (a hammer for example) on the longer timeframe. Once you really get used to price action and multiple timeframes, you almost see them all regardless of which one you're looking at.

I'll do my best to be more aware of what I'm looking at when I make decisions and bring that to a video for you. Just thinking about it now, I can say for sure it's very situational. For example if we're in a very fast trend, I'll be watching the shorter timeframe for small pullbacks which barely even print on the 250 tick. When price reaches levels of support/resistance, I often look to the lower timeframe to see how price is reacting to the level.

In any good trade, I'm fading weakness. More times than not it's a bad trade if I'm chasing strength. That's really the whole deal.

Reply With Quote
 
(login for full post details)
  #169 (permalink)
 cmmichaels 
London England
 
Experience: Intermediate
Platform: Metatrader
Trading: Spot $
 
Posts: 91 since Apr 2012
Thanks: 1,075 given, 149 received

IT7 I have another quick question as well if you don't mind me asking, you say you only started trading full time in Feb. How did you find trading around a job it is quite tricky I can at least trade the last 4 hours of the US I'm over in the UK. Were you still trading this way just around your day job?

Thanks again.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #170 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


cmmichaels View Post
IT7 I have another quick question as well if you don't mind me asking, you say you only started trading full time in Feb. How did you find trading around a job it is quite tricky I can at least trade the last 4 hours of the US I'm over in the UK. Were you still trading this way just around your day job?

Thanks again.

I was a financial advisor, so I could schedule all my meetings and work after lunch.

Reply With Quote
 
(login for full post details)
  #171 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Fantastic trading today.

I'll do a video on entries shortly.

I'm done trading for the day. Here's the day's trades and the daily P/L for this week.


Reply With Quote
 
(login for full post details)
  #172 (permalink)
 Rad4633 
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 893 received


indextrader7 View Post
Fantastic trading today.

I'll do a video on entries shortly.

I'm done trading for the day. Here's the day's trades and the daily P/L for this week.


nice trading,how many contracts do u ride with?

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #173 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Rad4633 View Post
nice trading,how many contracts do u ride with?

Usually 4. Today was also mostly 4, and a few 2.

Reply With Quote
 
(login for full post details)
  #174 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Today's recap with a focus on entry decisions. They're really quite straightforward, most are high probability setups with the trend.

Remember, like I've said before, entries are not nearly the most important thing. I'd say they're 10% of the work. If you can define the trend correctly and understand the market structure (support/resistance), then you have most of the work done.

Trading Work:
45% identify structure and trend
10% entry
45% managing risk and exit


Here's the entries video:
Screenr - indextrader7: 5-17 Trade Recap with focus on explaining entries.

Reply With Quote
 
(login for full post details)
  #175 (permalink)
 stillgrinding 
Palm Beach, Florida, USA
 
Experience: Intermediate
Platform: Ninjatrader, ThinkorSwim
Trading: Futures, US stocks
 
Posts: 5 since Mar 2012
Thanks: 4 given, 1 received

You sure are doing a heck of a job with this journal. Very much appreciated. But what I really want to know is: What type of pistols do you shoot?

Reply With Quote
 
(login for full post details)
  #176 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


stillgrinding View Post
You sure are doing a heck of a job with this journal. Very much appreciated. But what I really want to know is: What type of pistols do you shoot?

Haha, very nice. I shoot a CZ-SP01 9mm, and a Cimarron Evil Roy 1873 single action army in .357mag/.38sp. I also do a good bit of long range shooting (500yd F-class).

Reply With Quote
 
(login for full post details)
  #177 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Positive day today, although I had some real mental struggles keeping losses as small as I would like. I wonder if that challenge will ever go away for me... Any words of wisdom out there?

Here are the trades for today:


A great week of trading, BUT ONE THING I WANT TO POINT OUT AND SAY IS THAT EVERY DAY WHEN I SIT DOWN AND TRADE IT IS A STRUGGLE. IT'S NOT EASY. JUST BECAUSE I'VE BEEN PROFITABLE, DON'T THINK I'VE FOUND SOME SECRET. THERE ISN'T ONE. IT'S A STRUGGLE EVERY DAY. I HAVE MANY OF THE SAME TROUBLES, INSECURITIES, AND DOUBTS THAT CREEP IN AS EVERYONE ELSE. BUT MAN IT'S WHAT I LOVE!

If there's anything to it, it's that I'm AWARE of how I'm feeling and try to make good decisions DESPITE those emotions.


Here's the daily P/L for the week:


I hope you all do well today, and have a great weekend. I'm going to my grandmother's 90th birthday party tomorrow after I take my series 3 in the AM.

Happy hunting.

Reply With Quote
 
(login for full post details)
  #178 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

An example of a horrible trade/decisions on my part.


A few good trades, but still could have done better.

Reply With Quote
 
(login for full post details)
  #179 (permalink)
 bingo17 
toronto canada
 
Experience: Intermediate
Platform: Ninja
Trading: CL
 
Posts: 54 since Jan 2010

Appreciate you taking the time to post your entries via charts and vids...very cool..have a great weekend!!

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #180 (permalink)
eacherlunch
birmingham, al
 
 
Posts: 18 since May 2012
Thanks: 11 given, 6 received

Thanks for the analysis and videos IT7. Good stuff there esp the trade management. Keep them coming!

**FYI - your screencast stuff gets cut off after 5 minutes**

Reply With Quote
The following user says Thank You to eacherlunch for this post:
 
(login for full post details)
  #181 (permalink)
MadTr8r
Chicago
 
 
Posts: 12 since Dec 2010
Thanks: 6 given, 3 received

Anyone know if theres a .pdf or Word doc with a clear rules or entry setup, I didnt see anything and theres 18 pages of threads so was trying to cut down on searching every page. Thank you in advance

Reply With Quote
 
(login for full post details)
  #182 (permalink)
 trendisyourfriend 
Legendary Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 4,050 since Oct 2009
Thanks: 3,701 given, 5,238 received


MadTr8r View Post
Anyone know if theres a .pdf or Word doc with a clear rules or entry setup, I didnt see anything and theres 18 pages of threads so was trying to cut down on searching every page. Thank you in advance

I think he is using Lance Beggs's approach to scalping:
YTC Scalper

Reply With Quote
 
(login for full post details)
  #183 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


trendisyourfriend View Post
I think he is using Lance Beggs's approach to scalping:
YTC Scalper

I wouldn't say I follow that scalping strategy to the T. Some days I don't even scalp and trade larger swings, sometimes I do follow ytc scalper style(certainly have been as of late), sometimes I use a slightly different mean reversion style with keltner bands. Mainly what I do is trade price reactions to S/R levels, and pullbacks within a trend. Whatever the market is doing that day depends on what method I use to find entries.

Reply With Quote
 
(login for full post details)
  #184 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


MadTr8r View Post
Anyone know if theres a .pdf or Word doc with a clear rules or entry setup, I didnt see anything and theres 18 pages of threads so was trying to cut down on searching every page. Thank you in advance

I'm sorry, it might be frustrating to try and follow/learn what I do. I change my charts up frequently, use different entry methods on different days, etc.

Bottom line is that I have no clear rules.

If you want to start somewhere, do not start with YTC Scalper as Trendisyourfriend pointed out. Start with his prerequisite material: YTC PAT.

Reply With Quote
 
(login for full post details)
  #185 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Today, I hope to get some live trades on video. It's fairly frustrating for me to do while trading, but I know a lot of people want to see more of that.

I'll try my best.

Reply With Quote
 
(login for full post details)
  #186 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Not how I like to start the day off.

Reply With Quote
 
(login for full post details)
  #187 (permalink)
eacherlunch
birmingham, al
 
 
Posts: 18 since May 2012
Thanks: 11 given, 6 received


indextrader7 View Post
Not how I like to start the day off.

Some days happen that way. What side of "The 'Ham" are you on IT7?

Reply With Quote
 
(login for full post details)
  #188 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Downtown.

Reply With Quote
 
(login for full post details)
  #189 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Mucho mejor.


Reply With Quote
 
(login for full post details)
  #190 (permalink)
eacherlunch
birmingham, al
 
 
Posts: 18 since May 2012
Thanks: 11 given, 6 received


indextrader7 View Post
Downtown.

Cool. I am in North Shelby. Have you tried Mix for lunch? Good stuff. The fresh bread is amazing.

Reply With Quote
 
(login for full post details)
  #191 (permalink)
eacherlunch
birmingham, al
 
 
Posts: 18 since May 2012
Thanks: 11 given, 6 received


indextrader7 View Post
Mucho mejor.

nice turnaround. market sure seems to be ignoring FB.

Reply With Quote
 
(login for full post details)
  #192 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Live entry Screenr - indextrader7: live entry

live exits Screenr - indextrader7: live exits

Not the best example, but a real example! Trading can be messy. Now in hindsight, got out of part two right before the market turned and went 15 ticks in the trade's favor. Oh well, such is life.

Reply With Quote
 
(login for full post details)
  #193 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Trade scratched because it wasn't moving as expected.
Screenr - indextrader7: live trade 2 (scratched because it wasn't acting as expected)

Reply With Quote
 
(login for full post details)
  #194 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Let's see if part two of this short can run. Luck got me in early on this trend change... well I anticipated it a due to weakness in momentum of the uptrend.

We'll see... also I may add to the position on a pullback to the breakdown level.


Reply With Quote
 
(login for full post details)
  #195 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Reply With Quote
 
(login for full post details)
  #196 (permalink)
eacherlunch
birmingham, al
 
 
Posts: 18 since May 2012
Thanks: 11 given, 6 received

Great stuff - I like how you show how difficult this really is. The NT software is pretty cool. I like the drag & drop orders. I have never looked at it that closely.

Reply With Quote
 
(login for full post details)
  #197 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Reply With Quote
 
(login for full post details)
  #198 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I mean 4/6

Reply With Quote
 
(login for full post details)
  #199 (permalink)
 HighRise1202 
houston
 
Experience: Intermediate
Platform: nt
 
Posts: 407 since Sep 2010
Thanks: 266 given, 274 received

It seems to me you should post these in the chat box.
Thanks.


indextrader7 View Post
I mean 4/6


Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #200 (permalink)
 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


HighRise1202 View Post
It seems to me you should post these in the chat box.
Thanks.

I'm not interested in chatting. Nor will I often post live trades.

Reply With Quote


futures io Trading Community Trading Journals > Short term TF trading


Last Updated on June 9, 2013


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing

NEW BlackBird Features + FOREX Support w/Jeremy Tang @ SharkIndicators

Elite only
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



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