Breakout Journal - a journey to full time trading - Trading Journals | futures io social day trading
futures io futures trading


Breakout Journal - a journey to full time trading
Updated: Views / Replies:55,809 / 660
Created: by Silver Dragon Attachments:466

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 466  
 
Thread Tools Search this Thread
 

Breakout Journal - a journey to full time trading

  #261 (permalink)
Freemason
Chicago, IL
 
Futures Experience: None
Platform: oil super computer
Favorite Futures: multiple
 
Posts: 193 since Jun 2011
Thanks: 595 given, 192 received

Came across a thread on the Sierra forums yesterday and just thought of it now reading that you where trying Sierra for the combine. In your previous posts you had some charts with trend channel bars, I dont know if you still use them but they are possible to make with Sierra's flex renko bars, here is the link from their forums New Renko Function - Flex Renko, Hybrid, Trend Channel - Sierra Chart

The following 2 users say Thank You to mongoose for this post:
 
  #262 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received


mongoose View Post
Came across a thread on the Sierra forums yesterday and just thought of it now reading that you where trying Sierra for the combine. In your previous posts you had some charts with trend channel bars, I dont know if you still use them but they are possible to make with Sierra's flex renko bars, here is the link from their forums New Renko Function - Flex Renko, Hybrid, Trend Channel - Sierra Chart

@mongoose

Cool! Thanks for the link. I still use them but selectively.

Robert

nosce te ipsum

You make your own opportunities in life.
The following user says Thank You to Silver Dragon for this post:
 
  #263 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received


Combine Update:

I am taking some time off from my public journal so I can focus on trading. I found I was having a bit of performance anxiety while posting combine results. I will periodically post updates as the combine progresses.

I started trading CL along with UB since UB can be a bit of a sleeper. I found that I was forcing trades in UB because it was not moving. CL allows me to trade when UB is dead. This changes the dynamics of the combine. At this point I am looking to finish the combine being in positive territory. If I trade consistently for the rest of the combine I still have a chance of hitting my numbers.

I made some adjustments to my trading this week; I am focusing on a single setup. The setup consist of playing the breakout out of consolidation area. I am posting this from my iPad so I will post a chart later. I find that I am able to easily identify setups and cut losses quickly when I am wrong. Yesterday I had 4 winners and 6 losers but I ended breakeven. The prior day I had 1 winner and 2 losers and ended +18 ticks for the day. This is a big change from prior weeks where I would be decisively negative when I had more losers than winners.

Until I get this down I will be using only one contact. However, based on last weeks results I believe I can comfortably trade 3 contacts on CL and stick with 1 contract on UB once I get up and running.

Robert

nosce te ipsum

You make your own opportunities in life.

Last edited by Silver Dragon; March 3rd, 2013 at 02:04 PM.
The following 5 users say Thank You to Silver Dragon for this post:
 
  #264 (permalink)
Trading for Fun
danville ca usa
 
Futures Experience: Advanced
Platform: tradestation
Favorite Futures: currency and index futures, grains, bonds, oil, gas, metals
 
Posts: 51 since Mar 2012
Thanks: 6 given, 41 received


Silver Dragon View Post
Combine Update:

I am taking some time off from my public journal so I can focus on trading. I found I was having a bit of performance anxiety while posting combine results. I will periodically post updates as the combine progresses.

I started trading CL along with UB since UB can be a bit of a sleeper. I found that I was forcing trades in UB because it was not moving. CL allows me to trade when UB is dead. This changes the dynamics of the combine. At this point I am looking to finish the combine being in positive territory. If I trade consistently for the rest of the combine I still have a chance of hitting my numbers.

I made some adjustments to my trading this week; I am focusing on a single setup. The setup consist of playing the breakout out of consolidation area. I am posting this from my iPad so I will post a chart later. I find that I am able to easily identify setups and cut losses quickly when I am wrong. Yesterday I had 4 winners and 6 losers but I ended breakeven. The prior day I had 1 winner and 2 losers and ended +18 ticks for the day. This is a big change from prior weeks where I would be decisively negative when I had more losers than winners.

Until I get this down I will be using only one contact. However, based on last weeks results I believe I can comfortably trade 3 contacts on CL and stick with 1 contract on UB once I get up and running.

Robert

silver dragon...

In the past I found it very difficult to trade a single symbol.... each symbol only gives so many setups each day, and I tended to push my luck when that symbol for that given day didn't move enough for my setups to appear, or to make money that day. It doesn't work for everyone, but I trade 4 currency futures, 4 index futures and 4 others crude, oil, gold and copper. It takes some practice to continue to look through the charts, but what I end up with is being able to select "good" setups from those symbols that are moving and not trading other "less profitable" setups/symbols for that day.


Just my thoughts

toucan

The following 2 users say Thank You to toucan94506 for this post:
 
  #265 (permalink)
Elite Member
Newcastle, Australia
 
Futures Experience: Intermediate
Platform: Multicharts 8 - Full Version
Broker/Data: IB
Favorite Futures: SPI,FTSE100, 6E, 6A
 
Posts: 285 since Oct 2010
Thanks: 108 given, 177 received


VinceVirgil View Post
Hello SilverDragon,

One statictic I have notoced that seems to be in conflict at his early stage oif the combine, it the amount of time you hold losers.

Holding losers too long have a detremental effect, not just to you pocketbook, but particularily, to your phsychological capital. Siitting for an extended time watciing a particular trade hover between a tick up, a tick down, a tick up, a tick down, a few ticks up, a few ticks down for an extended period of time, only to end in loss, is a frustrating experience.

Good trades are ussually good from the start. It stands to reason that bad trades are likewize.

Have you considered the concept of a time stop, as it relates to price action?

Once you enter a trade, you enter with an initial stop. Evaluating and reevaluating a trade while you are in it, as time goes on, may allow you to close it out with a small loss quickly. You can always get back in. One of the metrics that are commonly measured is the length of time in a losing trade vs the length of time in a winner. I know of no other way to cut a losing trade time then to actually close it out. This also goes to the point of keeping your losses small. It is evident that you must have closed out your winners early, because it looks like your winners were not enough ot overcome your losses.

Your winning percentage is good. i dont know the details, but is there a way you can see yourself sticking with your winners longer? Adjsuting your approach to facilitate that circumstance? I dont know your system, but your winners should be held longer than losers. I am not aware of a successful approach that is otherwize.

Just a simple observation.

VV

I believe that you are correct on good trades are good from the start.
As an example of a long trade that is going sideways.
The way I have implemented time stops in the is to wait 3 bars then move the stop to under the low of the current bar. As each bar closes move the stop up to the new low. Ie squeeze the trade into either going in your direction or close it out for a small loss.
Neil.

Sent from my GT-N8000 using Tapatalk HD

The following 2 users say Thank You to NW27 for this post:
 
  #266 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Attached is my chart markup from today. Putting boxes around the consolidations has really helped me stay away from placing trades in chop. I draw these in real time. Its fascinating to watch how price stays within the box. Entry is pretty simple; I place a stop entry above or below the box about 5 to 7 ticks out and wait for the breakout. Sometimes its further depending on where support and resistance is located.

I am getting comfortable with the entries, now I have to let the position run to the target or let it get stop out. I left 30 ticks on the table today because I closed the position out early. 3 out of 4 entries would have hit and exceeded my original target.

Robert


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

nosce te ipsum

You make your own opportunities in life.
The following 2 users say Thank You to Silver Dragon for this post:
 
  #267 (permalink)
Elite Member
Tampa, FL
 
Futures Experience: Beginner
Platform: NinjaTrader, Sierra Chart
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: 6E, M6E, 6J
 
Xav1029's Avatar
 
Posts: 1,374 since Dec 2011
Thanks: 1,452 given, 3,354 received

Hey Robert

Just wondering how it's going. Hope everything is good.

Xav

London Calling
The following 2 users say Thank You to Xav1029 for this post:
 
  #268 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received


Xav1029 View Post
Hey Robert

Just wondering how it's going. Hope everything is good.

Xav


@Xav1029

Hi Xav,

All is well!! I have been hiding out and lurking in the futures.io (formerly BMT) shadows. Seriously though, since I started combine I have not done as well as I would have liked so I decided to cut out all distractions and outside influences. I have been talking / working with some other traders and made some adjustments to my trading. Seems to be ever evolving, however, I think my current setup may be the one or close to it. Its very very simple and limits my trades to 1 to 3 trades a day. I am currently on a 4 day win streak. I plan on posting details but I dont want to jinx it. Every time I think I am there the bottom falls out. This time I will wait and see approach.


Robert

nosce te ipsum

You make your own opportunities in life.
The following 6 users say Thank You to Silver Dragon for this post:
 
  #269 (permalink)
Elite Member
Lehrte, Germany
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: PTP / Rithmic
Favorite Futures: NQ
 
Daytrader999's Avatar
 
Posts: 1,159 since Sep 2011
Thanks: 1,137 given, 1,565 received

Hi Robert,

good to hear from you and glad that things are going well !

I completely understand and agree with you on the point to consequently cut out any distraction from your Combine and completely focus on your trading. I'll proceed the same way when I (hopefully) start my Combine on NT by the end of March.

So, I wish you best of luck, you'll definetly make it...hope to hear you on the Squawk Box at TST soon !

The following 2 users say Thank You to Daytrader999 for this post:
 
  #270 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received


CL

I hit my entry this morning with a 2 target entry. First target hit and I chickened out on holding the runner. Ended +11. The price went 30 ticks lower after I exited the trade.

Last week I found a correlation between baseball and trading which is helping me (psychologically) get over my hesitation on my entries. Now I have to make progress on letting my trades run their course.

Robert


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

nosce te ipsum

You make your own opportunities in life.
The following 3 users say Thank You to Silver Dragon for this post:

Closed Thread



futures io > > > Breakout Journal - a journey to full time trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
David_R's Trading Journey Journal (Pls comment) David_R Trading Journals 165 July 17th, 2014 02:21 AM
My path of trading full-time LJYY Trading Journals 24 December 14th, 2012 09:37 PM
New Beginnings: The Journal of a Trader's Journey to Equanimity plethora Trading Journals 122 March 5th, 2011 11:13 PM
Curbfeeler's Trading Journal (It's a Journey) Curbfeeler Trading Journals 5 September 27th, 2010 11:32 AM
How long have you been trading full-time? Big Mike Traders Hideout 2 August 27th, 2009 06:20 PM


All times are GMT -4. The time now is 01:43 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts
Page generated 2017-12-13 in 0.15 seconds with 20 queries on phoenix via your IP 54.92.201.232