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Short term TF trading


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Short term TF trading

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  #691 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Here's the trades with their ticks p/l (avg ticks per contract). And some analysis of entry rationale:

Happy with my performance today.
- All losers were kept inside 10 ticks.
- Had a good read on the market. My losing trades were due to being early to the party.
- Re-entered trade ideas with confidence.

1. Looked like we were falling back into the range after a failed push higher.
2. Simply re-entered the first trade idea based on now a double top formation.

3. Long based on the uptrend (deleted the trendline, but it connected the lows throughtout the session)
4. Re-entry

5. Price stalling/failing to break below the previous swing low.


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  #692 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

+20 ticks today. (Average ticks per contract traded)

Not real happy with the entry on the 2nd trade which lost 7 ticks. Nor am I happy with the entry on the 5th trade which cost me 8 ticks. Both of those trades were managed fine, but I was put in a bad position from the start due to those impatient entries. I'm hard on myself though... there's often a fine line between a really nice entry and a hindsight impatient one that didn't play out. Overall, I'm pleased. I like to give myself the freedom to take whatever trade I want to, as long as I manage risk accordingly. That's what counts.


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  #693 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Traded CL for the first part of the AM, until equities opened. Two scalps, bagged some ticks:


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  #694 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

One trade in TF shortly after the open. Took advantage of trapped longs looking for a breakout.




I'm off to a tee time with some more prospective clients. Fingers crossed.

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  #695 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

I'm unbelievably blessed. I'm able to wake up in the morning and do something I truly love... something I would do whether I got paid or not... it's just a bonus that I get paid doing it.

I'm surrounded by people that love and support me. My parents, my sister, my girlfriend, several mentors at church, my business partner, my friends to name a few sources of solid love and support I have at the drop of a hat. I know they feel the same way about me too.

I've had difficult times in life and trading. I wouldn't change them, because it's been a greater hand at work shaping me into who I am today.

-Merritt

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  #696 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

Pretty good trading today in the CL. Could have been better (maybe). I was on the wrong side of the flow at first because I was looking for a longer timeframe move. Sometimes it's a decision to make... whether to trust the current, short term flow, or the longer term trend. That's just trading. I did have a nice stop/reverse moment around 8:04 as I had a great read on just what was unfolding. Really the first moment of real clarity I had during the session up to that point.

It's a shame that I stopped trading at the last trade here. I would have destroyed the action that followed over the next 45 min's. Oh well. +13 ticks today. It is one thing I must admit. If I'm struggling with anything lately, it's the fear of giving back profits. That's a good thing to a certain extent, but it's negative in my case here. I get fear to pull the trigger when I get some profits for the day. I think this is from added pressure to perform as a CTA. It's something I must work though. I must keep sharpening my mental framework.

That's six sessions in a row banking at least 10 ticks. I've got to stay sharp, because this is just when I can get a little too carefree and make mistakes.

All losing trades were when I was chasing strength. All winning trades were when I faded weakness.


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  #697 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012

A big breakthough today. I've had my eye on a prize for a while, and finally accomplished it today. Breaking 1 on my performance ratio. I knew it would come with my larger avgwin:avg loss ratio. All I had to do was bring my win% back up.

Cocktails are in order.


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  #698 (permalink)
San Francisco
 
Experience: Intermediate
Platform: In house
Trading: Futures
 
Posts: 21 since Apr 2012
Thanks: 55 given, 24 received

Congrats Merritt, it's great to see your continued success.

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  #699 (permalink)
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
I'm unbelievably blessed. I'm able to wake up in the morning and do something I truly love... something I would do whether I got paid or not... it's just a bonus that I get paid doing it.

I'm surrounded by people that love and support me. My parents, my sister, my girlfriend, several mentors at church, my business partner, my friends to name a few sources of solid love and support I have at the drop of a hat. I know they feel the same way about me too.

I've had difficult times in life and trading. I wouldn't change them, because it's been a greater hand at work shaping me into who I am today.

-Merritt

Nice Merritt, it reminds me of a chorus from "Rite of Spring" by one of my favorite bands, Angels and Airwaves. It's become sort of a motto for me:

If I had a chance for another try,
I wouldn't change a thing
It's made me all of who I am inside
And if I could thank God
That I am here, and that I am alive
And everyday I wake
I tell myself a little harmless lie
'The whole wide world is mine'


Congrats on living the dream!

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  #700 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012


Traded oil again today. I see no problems with discretionary trading CL.

Solid day. Banking ticks. Just flowing with the trend.


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