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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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  #371 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Morning Charts 4-26-13

As I was prepping this morning CL broke out of the downward triangle on the Hourly and 15 minute chart. Will see if this holds. Weekly is still up. The bias is up for the day if the breakout holds.. Possibly retest the highs of yesterday. If price goes back below the trend line then there could be a big sell off due to profit taking. Or it could just go sideways because its Friday!

Robert




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  #372 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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1st trade of the day..

Entry style: sell stop below previous bar low - Previous bar was a top.

Good entry bad trade management. I was not focused on the trade and ended up closing it out with a small loss. -2 ticks



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  #373 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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2nd trade of the day

Poor entry.. I did not see a secondary resistance line until after I was out of the trade. Ended -10. Down 12 ticks today. Taking a break.

Robert



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  #374 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
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Posts: 1,891 since Feb 2011
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3rd and 4th trade of the day.

Entry type 3rd trade: Sell stop below the trend line
Entry type 4th trade: Sell stop below the trend line

3rd trade entry was a good and I had a short target. Price did exactly what I thought it would. Touched the support line and reversed. Target hit!

4th Trade.- The entry was good however, I had a long term trend line (not pictured cause I deleted it in frustration!) that I had place below my entry. It was a bad trend line!! So price went down and came within 2 ticks of my target and reversed. I quickly closed out the trade and had slippage. As soon as I exited the trade price went 20 ticks lower.. Was totally bummed when I realized the trend line was not in the right place. Oh well. It is what it is.. I am currently down 20 bucks for the day.

Robert


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  #375 (permalink)
Legendary Data Wizard!!!
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5th trade of the day

I entered above the resistance level. Did not hit my 15 tick target so I exited the trade +6. Should have had it set to 10 ticks. Today has been a take what you can get type of day.

Robert



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  #376 (permalink)
Legendary Data Wizard!!!
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Final Stats for 4-26-13

This day could have gone better and could have definitely been worse. Ended the day +6 ticks $35 net. I made mistakes today per execution and focus. After missing the opening trade I was anxious the rest of the day. This caused me to rush trades and not see them fully for what they could have been. I will be reviewing my trades this weekend. With the exception of the second trade all my entries were solid. The exits is where I had the problem. I did not have focus and was not seeing the big picture.

Robert



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Legendary Data Wizard!!!
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Weekly Stats 4/21/13 - 4/26/13

+66 Ticks. $590 Net

Robert



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Combine Report Week 1.

Robert


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  #379 (permalink)
Legendary Data Wizard!!!
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One of the things I have struggled with is setting a proper target for my trades. Some are obvious while others are not. The part I have to figure out is how to get more out of my trades. I have witnessed my trades run further after I get out of them. So I wanted to know how much further they ran. Below are the results compared to my actual profit taken.

The left two columns is a estimate of Max number of ticks/profit my trades could have made. The right column is what I actually made. My current target is 15 ticks. Had I left the trades alone I would have hit my 15 tick target on every trade.



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  #380 (permalink)
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Silver Dragon View Post
Combine Report Week 1.

Robert


Robert, funny but our combine results look very similar, half time in, third of required profit acquired and the only red metric is holding time. Keep up good work!
Alex

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