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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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  #321 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Posts: 1,891 since Feb 2011
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EIA Petroleum status report is @ 10:30 this morning. Trading is starting to get volatile. Staying out of the market until after the report.

Robert

nosce te ipsum

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  #322 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
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Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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Silver Dragon View Post
EIA Petroleum status report is @ 10:30 this morning. Trading is starting to get volatile. Staying out of the market until after the report.

Robert

Entry type: Sell stop below the support of the range.

Took a 15 tick base hit after the news. Only traded 1 contract because of the potential volatility. I have seen these types of moves before and generally they go from 15 to 30 ticks. Taking the low end of the range to increase the probability of profits.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #323 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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Entry Style. Sell stop below support and low of the day.

Took a trade on the break of support and the new low of the day. 15 tick target with 1 contract. I messed up because this should have been 2 contracts. Forgot to switch it back after the last trade. I also had a connection issue with my server and did not get my entry where I wanted it.

+51 ticks on the day. This is probably my final trade of the day.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #324 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
Thanks: 5,403 given, 4,498 received

Final Stats for 4/17/13

I missed a couple trading opportunities due to fear of taking the trade. The first one was somewhat legitimate because price was going into congestion and I thought the upside potential was limited. After watching the price action play out I determined I could have still made a profit on the entry.

The second one I missed was for fear of losing my profit I had gained. I hesitated on setting my stop entry and missed the prime entry spot. Fear of losing a profit is not a excuse to not trade my setups. This was a high probability setup which has to be taken every time it comes up.

As I journal these events I am starting to see a pattern of not pulling the trigger due to fear. Its disturbing to me that I am holding myself back.... Now that I see one of the problems I need to set a plan in place to conquer it.

Robert





nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #325 (permalink)
Legendary Data Wizard!!!
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Posts: 1,891 since Feb 2011
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Back in the day.. I guess its been 20 years gone by now, I used to write poetry a lot. For various reasons and much to my wife's dismay I started writing less and less. Now I write a few times a year. When I started to identify my fear on paper poetry is what came out. So I thought would share how I perceive fear. Its raw and unedited but I think it conveys the power fear has over people.



Quoting 
In the darkness of a shadow
I lie and wait
to snatch you from victory
for which you will come to hate.

For I am the one which
holds you from your dreams
For I am the one which
makes easy, harder than it seems

I am fear-
know this to be true
I make your heart pump
I am in control of you

I am fear
You know I am near
Failure is what I whisper
Into your sub conscience ear

In the shadows of your mind
I will forever wait
To protect you from failure
From which you cannot escape

I am your solace
I am your friend
I will keep you from pain
Till the bitter end

So dont be afraid
Come into the shadows
Come with me now
Or failure is what follows

You are safe
For I am here
I saved you from failure
I am fear.


nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #326 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Platform: TastyWorks
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Posts: 1,891 since Feb 2011
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Morning charts for 4-18-13

It looks like we have hit a short term bottom overnight. CL hit 8561 over night and rebounded with a very structured trend. On the weekly chart CL is back to the first support/resistance area.

On the hourly chart there is a night channel pattern which has formed overnight. On the 15 minute chart you can see where price made moves up and rested and then continued upward.

This seems very structured unlike the erratic moves over the past few days. If price can get past the support / resistance area then I think today will be a up day.

Robert






nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
 
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  #327 (permalink)
Legendary Data Wizard!!!
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Posts: 1,891 since Feb 2011
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1st trade of th day

Entry type: Sell Stop below support.

I was messing around with 3 contracts yesterday in SIM and forgot to change it back to 2. When i entered the trade and realized I had 3 contracts I started to panic and moved my target to 10 ticks. I should have kept it where it was at which was 15 ticks. The trade ended well so no harm done.


I am awake now!! Adding "Check my trade settings" to my morning checklist.



nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
 
(login for full post details)
  #328 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
Thanks: 5,403 given, 4,498 received

Final Stats for 4-18-13

Its been a crazy day today. I have been away from my computer since this morning. Will try again tomorrow.

Robert


nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #329 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
Thanks: 5,403 given, 4,498 received

Morning Charts for 4-19-13

Price moved back above the support resistance area overnight on the weekly chart. On the hourly chart price is still in an uptrend but but has flattened out a bit. This could be a sign of a top. Retested the low on the 15 minute charts and bounced

Rollover is also occurring so this will affect trading today. CL could move sideways today unless there is news to drive it one way or the other.

I am also distracted by whats going on in Boston. Unless I get my focus on I may not trade today.

Robert





nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #330 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
Thanks: 5,403 given, 4,498 received


Price action all over the place this morning. Trading SIM till I see less erratic price movement.

Robert

nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal

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February 2, 2015


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