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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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  #211 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
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Out 10 ticks.


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  #212 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Continue from previous 3 posts...

So what do you do here? Price trended higher than my target and formed a double top. There is a chance it go higher if it breaks above the double top. I had a buy stop above the stop but took it out. I will wait for a pull back. Its possible this could be the start of a range.

I sometimes struggle with setting targets. I set a trade for 10 ticks it hits then goes 30 ticks higher. Next time I might set the target for 30 ticks and it will go 12 ticks and reverse. I have been trying to set a target and be done with it. I get what I get.

Robert



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  #213 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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Todays recap of my trades and possible entries.

Decided to do a video recap of my trades from time to time. This is to help me visualize what I was looking at on a particular day and to help me get back on the disciplined path if I were to stray from it.

Since this is on my personal development as a trader, I will be making remarks on what I need to work on throughout the videos. This will remind me where I need to improve.

I can here all sorts of digital background noise in the video. Something is not grounded correctly in my computer. I am going to work to track this down.

Let me know if you have any questions.

Robert

nosce te ipsum

You make your own opportunities in life.
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  #214 (permalink)
Toronto, Canada
 
Experience: Advanced
Platform: NT
Broker: TD Ameritrade, Dorman/Zenfire
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Silver Dragon View Post
Todays recap of my trades and possible entries.

Decided to do a video recap of my trades from time to time. This is to help me visualize what I was looking at on a particular day and to help me get back on the disciplined path if I were to stray from it.

Since this is on my personal development as a trader, I will be making remarks on what I need to work on throughout the videos. This will remind me where I need to improve.

I can here all sorts of digital background noise in the video. Something is not grounded correctly in my computer. I am going to work to track this down.

Let me know if you have any questions.

Robert

Good work on the video.

Dont look at the GC myself, but looks like some real tradable patterns you described.

Nicely done.

Vance

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  #215 (permalink)
Bridgwater, UK
 
Experience: Beginner
Platform: Ninjatrader
Broker: MB Trading
Trading: Forex
 
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Posts: 384 since Jun 2011
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Silver Dragon View Post
Todays recap of my trades and possible entries.

Decided to do a video recap of my trades from time to time. This is to help me visualize what I was looking at on a particular day and to help me get back on the disciplined path if I were to stray from it.

Hi Silver Dragon,

Can you let me know what video/audio capture set-up and software you use. I can really see this being a helpful tool and would like to experiment with it.

Thanks in advance for any feedback - nice trading by the way.

know thyself
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  #216 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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mokodo View Post
Hi Silver Dragon,

Can you let me know what video/audio capture set-up and software you use. I can really see this being a helpful tool and would like to experiment with it.

Thanks in advance for any feedback - nice trading by the way.

@mokodo,

Blueberry flashback video. It can be found here: BB FlashBack - Screen recorder software

Robert

nosce te ipsum

You make your own opportunities in life.
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  #217 (permalink)
Legendary Market Wizard
Ilsede, Germany
 
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Silver Dragon View Post
I sometimes struggle with setting targets. I set a trade for 10 ticks it hits then goes 30 ticks higher. Next time I might set the target for 30 ticks and it will go 12 ticks and reverse. I have been trying to set a target and be done with it. I get what I get.

@Silver Dragon:

I have exactly the same 'issue' in my trading, CL sometimes really tortures me until I can grab 10 ticks very laboriously which often leads to adjusting my target for the next trade.
When I enter the next trade, my 10 tick target often gets hit in a blink and I leave some additional 10-30 ticks on the table.
Then I adjust my target again, and after 11-13 ticks in profit the trade turns against me...

So I completely agree with you at last, just get what you can get, and just do it constantly...

And thanks a lot for the video, Robert. Great work !

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  #218 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
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Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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GC Morning

+79 Ticks

Had a good day today.There was only a 10 dollar range today. This is tiny for GC. I played my setups and waited for the entries to present themselves. I was one tick away from my daily tick goal twice. I really wanted that tick, but decided it was not worth messing up a good day and start to the week.

One one of biggest fears I am working to overcome is trading after a big win. To do this I am cutting my number of contracts in half after a big trade. The physiological reasoning for this is if I would have to lose several trades in a row to give it back what I made on the first trade. As my confidence grows with trading my setups I will decrease the amount of times I do this.

I am also finding it difficult to find time to post daily reports. To much going on. I may just start posting numbers without commentary on my busy days.

Robert



nosce te ipsum

You make your own opportunities in life.
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  #219 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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GC Morning
-56 ticks

Today was a rough day of trading. My first trade of day was a loss which I could not bring myself to exit early. I ended up losing twice as much as I should have. The second trade of the day was intended to be a long single contract trade. There was a channel going up and I caught near the bottom but then the bottom dropped out quickly and I got stopped out before I had a chance to close it out early.

Right about this time one of the expereinced / funded traders in the room mentioned the day before the FOMC meeting is one of the toughest days to trade in GC.

So, knowing this, I made an adjustment. The final two trades were more or less scalps on bar reversals. After the 4th trade I stopped trading.

This day could have been a lot worse. One of the things I did on the first trade was to reduce my contract size because I felt the market was tight. ding ding ding!! Probably should have taken that queue and not traded at all. It was a learning day. It was a good day

I am disappointed that Ninja will not be available until March on TST. Perhaps a blessing in disguise. More practice time and time to keep looking at other instruments. Speaking of; I traded ZB today in while I was waiting for GC to do something. This is a interesting instrument. Its not as choppy as many of the other instruments and tends to trend very well. The tick size is large; 31.25 a tick. Had four winners and one loser.

The best thing to happen today?
  • I didnt collapse after the second losing trade and go into panic or revenge trading mode.

What was the worst thing to happen today?
  • I recognized it was a tight market but didnt heed the warning. Today should have been a sideline day

Robert


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

+ 36 ticks

I totally messed an entry this morning. There were big bars this morning, like 50+ ticks for a single bar. I wanted to get in and adjust my stop further out. Well, as soon as I entered I was stopped out. This was a stupid move on my part; a 10 tick stop on a 50 tick bar. Really?? what was I thinking! I should have adjusted my stop before entering. I got in on the next run up and made my my ticks back.

The FOMC meeting is today. I will wait and see if other trades present themselves before the meeting.

Robert



nosce te ipsum

You make your own opportunities in life.
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February 2, 2015


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