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Breakout Journal - a journey to full time trading
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Breakout Journal - a journey to full time trading

  #351 (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

2nd trade of the day.

Had to run out so a little late posting my second trade. My logic for entering the trade was different than in the past. At the start of the new bar a size of 400 showed up on the ask side. I took this as manipulation and went short. Once I was in the trade my connection to my trading server starting acting up. Kept freezing up. Could not adjust my stop to where I wanted it. Finally decided it would be best to take the profit just in case it reversed. Clicked the flatten button about 50 times before it went through. Ended +9 on the trade.

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nosce te ipsum

You make your own opportunities in life.
 
  #352 (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

Final stats for 4-23-13

Today was a tough day of trading. The market was in a range for most of the morning and it was very volatile. I did pretty good by staying out of the trading what I am not good at but when opportunity presented itself for a good setup I totally over analyzed it. Took my stop entry in and out 5 times. My entry happen to be the big rally prior to lunch. One of the things I am really good at is not chasing trades. The flip side of this good habit is having to watch what you missed. I was miserable watching it going up. However, what I did do is try to predict where it would stop. A channel had formed and I watched it for a entry. When I saw 400 size come in on the offer I took this as my entry signal. Then my connection to my trading server started acting up. Closed it out early because I could not manage the trade. At this point I pretty much called it a day. I am happy with a 3 tick loss.

Robert
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nosce te ipsum

You make your own opportunities in life.
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  #353 (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


Night trade.

Took a scalp tonight on the trend line break. Should have walked away from the trade and let it play out. Ended up with a 5 tick scalp but it could have been 15. I dont know why I let my emotions get the best of me.

Robert

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nosce te ipsum

You make your own opportunities in life.
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  #354 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
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Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Channel forming on CL.. Downward channel so looking for a break to the upside.

Robert

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nosce te ipsum

You make your own opportunities in life.
The following user says Thank You to Silver Dragon for this post:
 
  #355 (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


Silver Dragon View Post
Channel forming on CL.. Downward channel so looking for a break to the upside.

Robert

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Price broke out of the channel to the upside. Totally missed the double bottom at the bottom of the channel.

Robert

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nosce te ipsum

You make your own opportunities in life.
The following 2 users say Thank You to Silver Dragon for this post:
 
  #356 (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

Morning Charts for 4-24-13

The trend for the week is still up. Heading back toward the breakout area of 91. Hourly chart is in a upward channel. 15 minute chart is a in a upward channel. Lower channel support is around 89ish on the hourly chart. Will be watching that area with interest to see if it breaks down.

Robert


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nosce te ipsum

You make your own opportunities in life.
The following 2 users say Thank You to Silver Dragon for this post:
 
  #357 (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

1st trade of the day

Entry type: Sell stop below the channel line

I rushed into this trade before I went through my check list this morning and it cost me. I ended up using my scalping ATM to enter the trade. This had a tight trailing stop. You can guess what happened. -7 ticks on the trade. Dumb move on my part.

Robert

nosce te ipsum

You make your own opportunities in life.
The following user says Thank You to Silver Dragon for this post:
 
  #358 (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

2nd trade of the day.

Entry type: Buy Stop above trend line

Took this trade off the open. I place a buy stop above the trend line. Almost moved my target but stuck with it. Ended the trade +15 ticks.

Looking at the chart now I could have got more out of the trade. Observation- If the trade begins toward the end of the bar, in this case the 15 minute bar where I entered at 11 after, there is higher probability price will continue in the direction of the trade on the next bar.

Robert

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nosce te ipsum

You make your own opportunities in life.
 
  #359 (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

EIA Petroleum Status Report due to be released at 09:30 CST. I am watching for a move at the top of the hour. If it does not happen then I will not trade until after the report is released.

Robert

nosce te ipsum

You make your own opportunities in life.
 
  #360 (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


Missed trade 1

Missed a breakout to the upside. I hesitated. Cost me at least 10 ticks. Need to put in my stop entry first and ask questions later.

Robert

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nosce te ipsum

You make your own opportunities in life.
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