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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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  #431 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
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Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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Final Stats for the 5/6/13

Ended the day -5 ticks -$65 net. I will start over tomorrow with a clean slate.

Robert



nosce te ipsum

You make your own opportunities in life.
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  #432 (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: 5,401 given, 4,498 received

Combine update:

Today was my first day trading since last Wednesday. Having 4 days to think about my combine was probably not a good thing. Went through a lot of scenarios over the weekend about how my combine would end. It was a very long weekend. Then with the market being slow today on the open it prolonged my weekend anxiety. I had to wait 2 hours for my first trade. Felt like 5! I thought it would never get here! I felt better after it was completed and I am feeling better tonight. Looking to get back in the groove tomorrow. Did my Insanity workout tonight and went through my trades from today. I have a clear mind for tomorrow.

I also noticed I am feeling a bit of stress to perform well to meet the combine goals objective Could be from to much thinking over the weekend. At this point its not enough to worry about but it is enough that I am aware that is there. With that said I may drop off the grid if I determine it is my best interest for completing the combine. If do go rouge I will post my thoughts in my personal journal then repost them here when the combine is done.


Robert

nosce te ipsum

You make your own opportunities in life.
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  #433 (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: 5,401 given, 4,498 received


Morning Charts for 5-7-13

Weekly has not changed much. Currently in a flag pattern on the hourly chart. The overnight was uneventful with a lot of back and forth. I will be watching for a breakout out of the hourly triangle this morning.

Robert




nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #434 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
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Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
Thanks: 5,401 given, 4,498 received

Results from 5/7/13

Had issues with my screen capture today plus I was extremely busy tonight so I dont have time to mark up a chart. So- here is a quick summary of what happened today:

I lost control today made some very stupid trades. I didnt follow my rules on trades 1, 2 & 4. I am lucky I ended the day only down 3 ticks. The first two trades should have never happened. The 3rd trade should have been my trade of the day. Because I was in a hole I was overly cautious and missed my several entries. That's when I committed the sin of taking a market order trade after I missed my entry. This is unforgivable. Spent the day digging myself out of self made hole. From the standpoint of following my rules, this was a disastrous trading day. The only thing that saved me was the trades where I did follow my rules.

2 winners 3 losers -3 ticks for the day. -$55 Net



Trade notes from my personal journal:


Quoting 
Trade #1

Entry type: Buy stop above resistance.

I did not follow my plan this morning - I traded before open. This was a entry fit my criteria for a buy. I also held on longer to this trade than previous trades. I had several chances to get out @ BE or close to it.

Trade #2

Entry type: Sell stop below low of previous bar

Style Drift- Committed the ultimate sin. This loosely met the my setup rules. I tried to force a trade. Even worse I rushed the trade. This was just a stupid trade. What was I thinking.. Taking a break..



3rd trade of the day

This should have been my first and only trade of the day. A breakout to the upside for 20 ticks. Instead of being up 20 ticks I am at break even.


4th trade today

Entry type: impulse trade - Market order

Missed my entry and used a market order to get in. Really?? I cant even believe I did this. Whats even worse I held onto the trade.

5th trade.

Entry type: Sell below support

Solid trade. 2 ticks of heat. Got back to near even. Calling it day.


nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #435 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
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Posts: 1,891 since Feb 2011
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Morning Charts 5-8-13

CL is sitting in a giant range. Added the daily chart to show the lack of movement over the past few days. Looking for a breakout out the range. Above 9526 is a buy and below 9485 is a sell. Will trade support and resistance breaks within the range for smaller gains.

My trading goals today: Trade my plan.Stay away from dogging myself into a hole. Wait for the trades to come to me. Have patience and have discipline.






nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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Legendary Data Wizard!!!
Cincinnati Ohio
 
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Silver Dragon's Avatar
 
Posts: 1,891 since Feb 2011
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1st trade of the day

Entry type: Buy Stop above resistance.

Followed my rules on this trade. Price just didnt have any follow through. -10 ticks

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
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  #437 (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: 5,401 given, 4,498 received

2nd Trade of the day

Entry type: Buy Stop above resistance.

Setup my buy stop above the resistance and waited patiently for it to be hit. Took 2 ticks of heat. +15 ticks.

Robert



nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
The following 2 users say Thank You to Silver Dragon for this post:
 
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  #438 (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: 5,401 given, 4,498 received

3rd trade of the day.

Entry type: Sell stop below

Late posting. Entry met my rules for entry. Price went down a couple of ticks and reversed quickly. -10 ticks




nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
The following user says Thank You to Silver Dragon for this post:
 
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  #439 (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: 5,401 given, 4,498 received

4th trade of the day.

Entry type: Buy Stop above resistance.

Late post: I waited a couple of hours for this trade to develop and my entry was perfect but I panicked on the pull back. I closed at +1 tick. Then it reversed and went on to hit my original target. This is a definite problem for me. I have to quit managing my trades by the flatten button.



nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal
 
(login for full post details)
  #440 (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: 5,401 given, 4,498 received


Final Stats:

I followed all my rules today. So from that stand point it was a good day. No regrets other than not letting the final trade play out.



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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