Breakout Journal - a journey to full time trading - Trading Journals | futures io social day trading
futures io futures trading


Breakout Journal - a journey to full time trading
Updated: Views / Replies:55,870 / 660
Created: by Silver Dragon Attachments:466

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 466  
 
Thread Tools Search this Thread
 

Breakout Journal - a journey to full time trading

  #461 (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

Combine Results Day 13

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

nosce te ipsum

You make your own opportunities in life.
The following 2 users say Thank You to Silver Dragon for this post:
 
  #462 (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

I made a mistake. This entry was not a valid. The two previous trades where breaks of support and a new low of the day. This trade was simply a new low. The probabilities are less on these types of trades and they tend to pull back further which this one did.

After the two near misses I had on the first two trades I think I was emotional and made a rash decision. I should have taken a break and cleared my mind after the two losses.

Edit: "I think I was emotional" - Should be "I know I was emotional".
Robert


Silver Dragon View Post
3rd trade of the day

Entry type: Sell stop below low of they day

Valid entry- no follow through on the first leg down. Reversed took out my stop and then went on to hit my original target. Taking a break. -10 ticks.

Robert


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


nosce te ipsum

You make your own opportunities in life.
The following 2 users say Thank You to Silver Dragon for this post:
 
  #463 (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



xelaar View Post
Good trading, Robert! Looks like you are having same situation in crude today as I was having in gold, big down trend but no follow through on breaks lower for most part. I think your trading is good and consistent, maybe, just, that you need to concentrate to capture larger winners, same problem as I have. Keep doing it, good consistency. Have a good weekend.

Alex

@xelaar

Alex,

Thanks! I agree I need larger wins. The problem is I dont know the best method of setting targets. It seems when I try to go for anything over 20 ticks I get burned. Maybe I am getting in to late on the trade. I dont know. I will be reviewing my trades this weekend to see what I can come up with. Although, I dont think I am going to change my method at this point. I am too far into the combine and dont want to style drift and completely knock myself out of the combine. If anything I would like to at least get rollover.

Your combine is looking very nice!! You have plenty of time to finish it out. As you told me; Slow and steady!

Robert

nosce te ipsum

You make your own opportunities in life.
The following user says Thank You to Silver Dragon for this post:
 
  #464 (permalink)
Elite Member
Nanjing, NJ
 
Futures Experience: Intermediate
Platform: CQG/TOS
Broker/Data: Optimus/CQG
Favorite Futures: CL
 
Posts: 102 since Jun 2010
Thanks: 33 given, 71 received

Robert, how about increase the number of contracts for each trade?

You combine report shows you've the discipline and consistency of a good trader. Instead of stretching yourself for elusive larger targets, trading multiple contracts might be a better route. You can keep your current set up you're comfortable with. Just my thoughts.

The following user says Thank You to shzhning for this post:
 
  #465 (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


shzhning View Post
Robert, how about increase the number of contracts for each trade?

You combine report shows you've the discipline and consistency of a good trader. Instead of stretching yourself for elusive larger targets, trading multiple contracts might be a better route. You can keep your current set up you're comfortable with. Just my thoughts.

Hi @shzhning

I have thought about this many many times and there are a few reasons why I have not gone down that path.
  1. The 30K combine leaves to little room for error to trade multiple contracts. With a $500 loss limit it would be very easy on a bad day to hit it.
    .
  2. The Live Trader Prep which follows a successful combine only allows a $500 loss limit for the week. Two bad days in a row and you would be done.
    .
  3. I thought about adding contracts once I got a cushion like $1000 but the problem I see is if I were to have a couple bad days like this week then I would have to go back to one contract and make up twice as much ground. Currently sitting at 915 had I traded two contracts this week when I was over a $1000 there is a possibility I might be closer to 700 today.

With that said, I think it makes sense to have multiple contracts if you have the appropriate plan and combine to make it work. I have thought about a custom combine and raising my loss limit to 700 or 800. This would give me enough cushion for my trading style to use two contracts. Its something I will be thinking about if I dont make it through this one.

Thanks for refreshing the idea. Something to think about this weekend.

Robert

nosce te ipsum

You make your own opportunities in life.
The following user says Thank You to Silver Dragon for this post:
 
  #466 (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 5-13-13

Doji formation on the weekly charts last week. Generally indicates a top. However, on the daily chart we have had 3 days of rejection as price has tried to go lower. Last Fridays low touched the trend line and reversed. Hourly chart looks to be in a pennant formation. Overnight on the 15 minute chart there was a channel. Price broke out of it this morning. To me there are contradicting signals as far as the long term price movement goes. Short tern - Buy above 96 and short below 95.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

nosce te ipsum

You make your own opportunities in life.
The following user says Thank You to Silver Dragon for this post:
 
  #467 (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 low of the opening bar on the open

Solid trade. Took 4 ticks of heat on the trade. This trade had good follow through on the way down. +15 ticks

Robert

Edit: made a mistake on entry type. should have not been low of the day

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

nosce te ipsum

You make your own opportunities in life.

Last edited by Silver Dragon; May 13th, 2013 at 10:18 AM.
The following user says Thank You to Silver Dragon for this post:
 
  #468 (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

Goals for the day

Goals for the day

My goals for today:Trade my plan. Don't force trades. Wait for the trade to come to me. Manage the trade through my targets and stops. Have patience and let the trade play out. Don't let fear or indecision keep me from taking a trade. If the conditions are met take the trade!

Robert

nosce te ipsum

You make your own opportunities in life.
The following 2 users say Thank You to Silver Dragon for this post:
 
  #469 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received

Looks like a range day on both black and shiny golds, be careful with these break outs while inside the value area! Good goal!

The following user says Thank You to xelaar for this post:
 
  #470 (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


I am very distracted at the moment. I am not seeing the market clearly. Taking a break to get the distractions taken care of.

Robert

nosce te ipsum

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

Closed Thread



futures io > > > Breakout Journal - a journey to full time trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
David_R's Trading Journey Journal (Pls comment) David_R Trading Journals 165 July 17th, 2014 02:21 AM
My path of trading full-time LJYY Trading Journals 24 December 14th, 2012 09:37 PM
New Beginnings: The Journal of a Trader's Journey to Equanimity plethora Trading Journals 122 March 5th, 2011 11:13 PM
Curbfeeler's Trading Journal (It's a Journey) Curbfeeler Trading Journals 5 September 27th, 2010 11:32 AM
How long have you been trading full-time? Big Mike Traders Hideout 2 August 27th, 2009 06:20 PM


All times are GMT -4. The time now is 02:16 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.14 seconds with 20 queries on phoenix via your IP 54.82.56.95