NexusFi: Find Your Edge


Home Menu

 





The Newmont Diary


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Tiberius with 129 posts (262 thanks)
    2. looks_two aligator with 3 posts (4 thanks)
    3. looks_3 Big Mike with 1 posts (0 thanks)
    4. looks_4 Quick Summary with 1 posts (0 thanks)
      Best Posters
    1. looks_one Tiberius with 2 thanks per post
    2. looks_two cory with 2 thanks per post
    3. looks_3 aligator with 1.3 thanks per post
    4. looks_4 RedK with 1 thanks per post
    1. trending_up 17,820 views
    2. thumb_up 269 thanks given
    3. group 4 followers
    1. forum 135 posts
    2. attach_file 212 attachments




 
Search this Thread

The Newmont Diary

  #21 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406



Yesterday NEM along with the market dipped than rallied as I posted. This 5 minute chart is a good representation of the market swings. Well, yesterday as the rally was unfolding I became complacent and did nothing. And NEM moved up and up and up leaving my calls behind me. So, today being in a losing position with the puts above and the calls below, I had to pay attention. Being this is a retirement account, I can only go long.



What I like about the XX template is how the blue X gets you ready or out of a trade, the yellow X represents the cycle of the swing trade and not to fooled by the blue X in over trading or false reversals.

This morning I let the market sort it out and about 10:25 I went long from the 30 second chart and I bailed with 48 calls. I should of allowed a little more time. I was trading on the 30 second vs. the 5 minute. The next trade at 10:35, I allowed to run almost 30 minutes. The 30 sec chart started to break down so I sold next Friday's 50 calls above me. It's not that NEM can't just pop up, I have to limit my risk. Because NEM did pop only to fail and swing down in the afternoon.



AS NEM approached 48 in the afternoon (5 min) Blue X jump @ 2:15 but yellow X didn't. Blue X comes back down, Candles and ZLEMA are red. Right at 48. The premium on my diagonal spreads are positive (above $1.00), click the mouse, I have limited risk again.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Exit Strategy
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
38 thanks
NexusFi site changelog and issues/problem reporting
27 thanks
GFIs1 1 DAX trade per day journal
18 thanks
The Program
18 thanks
  #22 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406

I didn't do any thing today except watch. But I could of picked up that afternoon rally if I was paying attention. The 5 minute chart remains clear. You can see a price move vs. congestion.



NEM on the daily/weekly remains positive. I am looking for a "W" bottom. So far "V".


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #23 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406


I have 400 shares. 200 shares have the 60 puts and 50 calls. 200 shares have 47 calls. For trading, I have a 3 point band.



This morning was a gap opening, no follow through. No direction and then down with a bottom. No trades.



Is now a repeat of the prior shaded area? I don't know. Waiting for a "W" bottom.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #24 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406



I didn't trade NEM today. The 5 minute XX chart looks superb. I am using this chart for other stocks. My longer term strategy is to wait for a change of trend to the upside and attack NEM differently. I have a 600 share magazine going into the last two days of the week and look forward to a trade tomorrow.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #25 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406



NEM was down from the start after it just couldn't move higher on the open. later in the day there was a small rally that I didn't want to participate.



I am waiting for a "W" bottom with a positive up trend in both stochastics. But until that happens, I wanted to protect my 47 calls. So when NEM was close to 47, I flipped my 47 calls to June 15th and I used that premium to buy a June 15 47/44 put spread. Protection to 44.



Need to roll the 50 calls tomorrow and maybe a trade.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #26 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406

Friday the stock market fell out of bed. But the Euro didn't and certainly not gold and gold stocks. I totally mismanaged the day as I thought all things should fall. NEM was flat to down pre-market then had a gap open, up (yellow arrow). I waited for NEM to calm down but it didn't, I bought 200 at the green arrow and folded on the pull back (wrote calls). During the last minutes of trading instead of rolling the 50 calls forward, I did a 50 BuyWrite for this Friday. Closed the week with 800, start this week with 400.





I need to trade NEM from the 5 minute chart and increase the size of my stop and stay with the ZLEMA.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #27 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406



I have been doing a lousy job trading or swing trading NEM. Using charts of 5 and 1 minute. I can't trade NEM like I trade SPY (SSO). And I need to add more risk to my trades to be successful. So I switched to 30 and 5 minute charts. When I saw the 30 minute chart enter the optimal buy zone, I drilled down to the 15 minute chart. And I had a successful trade.



Where I would of placed my stop on this trade I wrote two calls. And the premium added to the exit was the top price of the exiting bar. Ex - Div is Friday, so all ITM options for Friday will be scooped up for the $0.35 dividend.

51 was my break point, so I needed to get higher for an OTM call and so I wrote the 52.5s. I have enough for 200 shares, so I will play off 52.5.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #28 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406

NEM is officially in an up trend. We have a "W" bottom (HH & HL). Look left and an NEM broke above the pivot (the middle of the "W". Stochs and 25MA (above the 50MA) are positive.


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #29 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406



I didn't trade NEM today. Price stayed in a tight range. I was good up to 52.5.

Later in the afternoon I drew S&R lines on the chart. If we are an uptrend with the daily, we need to hold 49.60 on the 15 or we have a bigger consolidation.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #30 (permalink)
 
Tiberius's Avatar
 Tiberius 
Coos County New Hampshire
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB
Trading: ES
Posts: 1,552 since Feb 2010
Thanks Given: 2,984
Thanks Received: 3,406




NEM had a gap opening higher, didn't hold and the chart tells the rest of the story. NEM goes X-Div tomorrow, need to own stock today to get the dividend. All IMT call options will be scooped up for the dividend.

Maybe, I will buy another 200 for the ITM call premium that will be called tonight.

Trying to sell that put spread to recover a little money, maybe on Friday.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:




Last Updated on November 1, 2012


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts