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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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  #361 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
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3rd trade of the day

Entry type: Buy Stop above high of day and channel

I am extremely happy with this trade. I waited for over a hour for this setup and did not remove my stop entry. I had a 15 tick target on this however, I felt with the breakout of the hourly channel that it might be short lived so I had my pointer on the flatten button. +15 ticks

Robert




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  #362 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
Thanks: 5,419 given, 4,512 received

Final Stats for the day.

Note: Not shown is the trade from last night of $45 which will be included on my TST trade report. Total ticks between last night and today 28 ticks. Net: $260

Robert



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You make your own opportunities in life.
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  #363 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
Thanks: 5,419 given, 4,512 received


Morning Charts 4-25-13

Still bullish on the hour and weekly charts. The overnight 15 minute chart was in a range. Shows some indecision. Will see if there a continuation higher or consolidation of prices (profit taking) today for the bulls.

Notice how the upper channel line yesterday is now the lower channel line on the hourly chart. It was violated this morning. Looking at the weekly chart its really quite amazing where price has climbed back too.

Robert





nosce te ipsum

You make your own opportunities in life.
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  #364 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
Thanks: 5,419 given, 4,512 received

1st trade of the day

Entry type: Sell Stop below previous bar and double top.

Caught the opening move this morning. It was a solid trade. Took 1 tick of heat. My original target was 20 but moved it back to 16 because I saw some possible resistance from the overnight lows. I had a thought of moving my target to the overnight lows but I decided I did not want to be greedy. Just keep getting base hits.. The home runs will come later. +16 ticks on the trade.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #365 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
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Having a hard time reading the market. Sitting on the sidelines until something presents itself.

Robert

nosce te ipsum

You make your own opportunities in life.
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  #366 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
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Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
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Expanding wedge pattern on the hourly.. I am out of the market until there is some direction.

Robert


nosce te ipsum

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  #367 (permalink)
Legendary Data Wizard!!!
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Posts: 1,897 since Feb 2011
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Making a note of a pattern I have been seeing over the last couple of weeks. Call it the 3 bar head and shoulders pattern.

entry rules:
  • Next bars high has to be lower than the shoulder
  • shoulders need to be almost even
  • enter below the open or below the low of the previous bar. This depends on bar size and tail length.
  • 10 to 15 tick target.


Robert


nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #368 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Posts: 1,897 since Feb 2011
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Rare diamond pattern on the 15 minute chart. Generally a bearish signal at the top of a bull run.

Robert


nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
 
(login for full post details)
  #369 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
Thanks: 5,419 given, 4,512 received

Missed a great entry which would have taken me to my goal for the day. I noticed I was looking for a entry after I missed the trade which translates into me trying to force a trade or revenge trading. Gonna stop here and take a break..


Robert

nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
 
(login for full post details)
  #370 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,897 since Feb 2011
Thanks: 5,419 given, 4,512 received


Final Stats for 4-25-13

Today was a tough day. Not because of the market but because I missed a great entry on the move up. I was really looking for any entry after I missed the trade. Any entry... At that point I realized my rational for decision making had been compromised so I called it a day. I reminded myself that it was still a good day and there will be others.

+16 ticks. $155 net.

Robert



nosce te ipsum

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