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Breakout Journal - a journey to full time trading


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Breakout Journal - a journey to full time trading

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  #151 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
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Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,892 since Feb 2011
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Here is my first official video. I decided to do the first video on the ATM stop strategy I am working on. The goal of the strategy is to shave 2 to 4 ticks off my current stop without changing my targets.

Robert

nosce te ipsum

You make your own opportunities in life.
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  #152 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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GC Morning

+69 ticks

I was busy tonight and almost forgot to post today's summary. In short, I should have stopped after the second trade. Ended up giving 100 ticks back to the market. The trading was different today after the 9 am open. What worked last week did not work as well this week. I may need to change my strategy up to adapt to the new year. Prior to the market open the market was the same as last week.

I noticed trend line breaks had the best runs. This is where I can catch more than 20 ticks in a single run. The breakouts and bounces of double bottoms hit the 5 to 10 tick area. I will work on creating a second ATM strategy for trend line breaks.


Robert









nosce te ipsum

You make your own opportunities in life.
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  #153 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
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Silver Dragon's Avatar
 
Posts: 1,892 since Feb 2011
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Live Trades and notes for: 1/3/2013 Time: 20:11:7 Auto post

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  #154 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Posts: 1,892 since Feb 2011
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GC Morning - Night

+23 ticks

We will call today a break even day. I didnt have my game on today and it showed. I made bad trades all the way around. I reduced my number of contracts once I started losing money. I couldn't read the movement on the chart.

The positive tick count looks good until you realize I was down 120 ticks at the end of the session. I managed to catch a 75 tick gain x 2 contracts on one trade during tonight's session to even out the today's losses.

I have been messing around with longer term trades for the past couple of weeks. GC seems to be a good candidate for these types of trades because the movement during the day is 100 - 300 ticks or more. I may take more of these in the coming weeks.

I have to be honest; I am mentally tired. I have been running @ 125% or more for the past couple of months. It has finally caught up with me. Its starting to show in my trades and my posts. I am going to take some time off from day trading and futures.io (formerly BMT) to rest up and get back on track.

SD Out!!

What was the best thing that happened to me today:
  • I got nothing


What was the worst thing that happened to me today:
  • I got nothing


nosce te ipsum

You make your own opportunities in life.
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  #155 (permalink)
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GC Morning
+144 ticks.

Well, I tried to stay away.. Had a overnight trade +75 ticks. When I was checking the status of the that trade another trade presented itself. Then another. I started thinking about the overnight trade so I kinda combined my daytrading strategy with my overnight strategy and let the trades run a little. The overnight trade had a 75 tick stop and target with 1 contract. The other two trades started out as 75 and 75 but i tightened them up after entry. Each had 2 contracts.

I have to say these trades were less stressful. With a little more wiggle room I was not worried about being stopped out right after entry. It allowed me to let the trade develop. The overnight trade came within 10 ticks of being stopped out. The other 2 trades I just went with the trends.

I am thinking of making the overnight trade a everyday thing. I have had a success over the past couple of weeks in SIM with following the trend for overnight and letting the trade play out.

I also realized I have had several different trading methods which have worked over the past couple of months. I will need to nail it down which one is working best in the coming weeks before I start my combine with TST. I feel like I am learning on the job. Every time I see something which works better than what I was using I make an adjustment. My trading style is evolving!!

What was the best thing that happened to me today:
  • After entering the trade I let them run.


What was the worst thing that happened to me today:
  • Nothing.





nosce te ipsum

You make your own opportunities in life.
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  #156 (permalink)
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I am learning Price Action via the Al Brooks method. Found your thread interesting. I was trying to understand your charts and had some basic questions. I am not use to looking at a 4 Tick Chart.

1) What do the numbers by the HH, HL and etc stand for and how do you use them. What indicator is that?

2) What are the yellow and blue (non entry blue) vertical arrows represent?

3) Why do all your bars look the same except for a top or bottom wick here and there. Why no Doji Bars?

Is this really a 4 tick chart. That seems soooo fast. How do you draw your trendl lines and enter execution that fast?

 
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  #157 (permalink)
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rwbil View Post
I am learning Price Action via the Al Brooks method. Found your thread interesting. I was trying to understand your charts and had some basic questions. I am not use to looking at a 4 Tick Chart.

1) What do the numbers by the HH, HL and etc stand for and how do you use them. What indicator is that?

2) What are the yellow and blue (non entry blue) vertical arrows represent?

3) Why do all your bars look the same except for a top or bottom wick here and there. Why no Doji Bars?

Is this really a 4 tick chart. That seems soooo fast. How do you draw your trendl lines and enter execution that fast?

Hi @rwbil,

I have been wanting to do a video on how I use the chart so let me put something together and I will answer your questions more in depth in the video.

As for the indicators used: Price Action Swing Pro which can be found in the download section. This will show the HH and HL which stands for Higher Highs and Higher Lows. Scapler RT which is in the download section shows the arrows. This is more for a visual confirmation that the trend has changed direction. I dont use them to enter and exit trades.

The bar type is Channel Trend Bars. I am not sure how you would classify it. Yes they are fast but they show the trend rather well. You can get a free trial from @RJay. His website is: NinjaTrader Indicators And Bar Charts | Innovative Trading Solutions

Robert

Edit: Indicator should be Price Action Swing Pro. https://futures.io/local_links.php?action=ratelink&catid=26&linkid=57
Scalper RT: https://futures.io/local_links.php?action=ratelink&catid=4&linkid=616

nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #158 (permalink)
Legendary Data Wizard!!!
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GC Week in Review Dec 30th - Jan 4th

+ 265 Ticks

Below are the stats for the week.

Robert




nosce te ipsum

You make your own opportunities in life.
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  #159 (permalink)
Legendary Data Wizard!!!
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Weekly summary add on.

I have two accounts during the week I trade. One is my TST account. The second is my SIM account in Ninja. The TST account I trade as if it were a live combine. This means only take trades which meet the requirements to trade. My SIM account on the other hand, I use for testing new trade ideas or take trades I am not sure of. This gives me a chance to learn as I trade. The totals for the two accounts are similar.

Its interesting to note that my average winning trade in my SIM account is over a 100 dollars higher than my TST account. This highlights the issue I have of closing the trade out early in my TST account. I thinks its because I treat the TST account as if I was going through a combine. Because I treat it as the real deal, I am more risk averse.

The first summary is SIM only. The second is TST and SIM combined.

Sim only


TST and SIM combined

nosce te ipsum

You make your own opportunities in life.
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  #160 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,892 since Feb 2011
Thanks: 5,411 given, 4,507 received


Live Trades and notes for: 1/6/2013 Time: 20:42:53 Auto post

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