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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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  #201 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Silver Dragon's Avatar
 
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Had a crappy morning trading so I move over to SIM and then have 2 trades 20+ ticks. Go figure.


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  #202 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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GC has been a pain to trade the last few days and this is the reason why. GC had a breakout of downward trend line which then went right into a channel. We are stuck in the middle of two lines. Its making trading very choppy.

Robert


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  #203 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Reverse Head and Shoulders on the 800 tick chart for 1-16-13


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  #204 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Posts: 1,892 since Feb 2011
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GC Morning
77 ticks

Trading @VinceVirgil style today. I am in prep for the combine which I hope to start as sson as they get the new data feed online.. I find myself switching back and forth between the 800 tick chart and the Channel Trend bars. Both have their advantages but seeing this chart today is pushing me more toward the 800 tick.

I managed to hit two out of five entries. One last night and one this morning. I couldn't pull the trigger on the last two. I am having trouble entering a trade after I after miss the initial entry. I had 3 or 4 chances to enter the third trade marked but could not do it for fear of the reversal. My fear of losing what I have already gained for the day still haunts me. I actually am able to pull the trigger on more trades when I lose the first trade. I have been thinking about reducing my size if I start out with a decent winner. this way if the trade goes against me I wont be giving so much back.

Robert


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  #205 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Posts: 1,892 since Feb 2011
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Added one more trade on a second entry.. 16 ticks.

Robert

Edit: per previous post; reduced the number of contracts and was able to pull the trigger!!


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  #206 (permalink)
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Silver Dragon View Post
I have been thinking about reducing my size if I start out with a decent winner. this way if the trade goes against me I wont be giving so much back.

Thought about applying a stop loss to your daily/weekly/monthly profits? So if you are up a certain amount you can keep trading but size or select trades accordingly, so will have a cut off and keep a pre-determined level of profit. This is the money management tail wagging the trading dog (if you follow the metaphor!).

I've got this in my trading plan but don't yet make enough profits for it to come into play. Strikes me as a sound concept nonetheless.

know thyself
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  #207 (permalink)
Legendary Data Wizard!!!
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Night trade


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  #208 (permalink)
Legendary Data Wizard!!!
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Attached are the trade results for the last 3 posts.

Robert


nosce te ipsum

You make your own opportunities in life.
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  #209 (permalink)
Legendary Data Wizard!!!
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This trade is a double bottom. Risking one contract. Sometimes the bars with flat bottoms will run up.or be the start of small trend.

Robert


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  #210 (permalink)
Legendary Data Wizard!!!
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Moved stop up to just below breakeven.


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February 2, 2015


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