David_R's Trading Journey Journal (Pls comment) - futures io
futures io



David_R's Trading Journey Journal (Pls comment)


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one David_R with 83 posts (124 thanks)
    2. looks_two Big Mike with 29 posts (49 thanks)
    3. looks_3 rassi with 14 posts (13 thanks)
    4. looks_4 benbrooke with 5 posts (5 thanks)
      Best Posters
    1. looks_one Big Mike with 1.7 thanks per post
    2. looks_two David_R with 1.5 thanks per post
    3. looks_3 jagui with 1.4 thanks per post
    4. looks_4 rassi with 0.9 thanks per post
    1. trending_up 31,665 views
    2. thumb_up 227 thanks given
    3. group 23 followers
    1. forum 165 posts
    2. attach_file 74 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

David_R's Trading Journey Journal (Pls comment)

(login for full post details)
  #101 (permalink)
 David_R 
Market Wizard
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
David_R's Avatar
 
Posts: 1,559 since Nov 2009
Thanks: 2,306 given, 2,484 received

I have to say that I have not been good about getting up and practicing. Even in sim I fear loss. I find myself looking at a lot of charts and seeing setups that have panned out well, but when I try it live (sim) its a completely different thing. Especially if I'm trying during mid day or even the afternoon for that matter. The best time is probably the AM.

I would rather trade CL because it does move fast. I know I shouldn't trade CL because it moves so damn fast. The indexes just seem to drag on and what I think is a set up really isn't.

One thing I have noticed and will be trying to follow is that setups that occur on the higher time frames may work better than the ones on the lower time frames. That will mean my patience needs to increase.

I don't intend to trade TF, but I wanted to SIM something and though I saw a decent set up. I was wrong.

DR

Attached Thumbnails
Click image for larger version

Name:	tfsim1.jpg
Views:	315
Size:	101.5 KB
ID:	17993   Click image for larger version

Name:	tfsim2.jpg
Views:	244
Size:	91.8 KB
ID:	17994   Click image for larger version

Name:	tfsim3.jpg
Views:	274
Size:	161.4 KB
ID:	17995  
Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to David_R for this post:

Can you help answer these questions
from other members on futures io?
How do I create Strategy with the Second Entry indicator
NinjaTrader
Market on Close data within IB
Platforms and Indicators
help with take profit several targets
TradeStation
NT8 Order Management Strategy
The Elite Circle
in depth understanding of last, bid, and ask volume in c …
NinjaTrader
 
 
(login for full post details)
  #102 (permalink)
 rassi 
the congo
 
Experience: Advanced
Platform: North sea oil rig
Trading: Cl
 
rassi's Avatar
 
Posts: 926 since Jun 2009
Thanks: 1,558 given, 1,199 received

Hi david, sure was a tough day, summer lunchtimes are tight so far it seems and low volumes all round. Funny I was reading your journal over the weekend and marks method with the cci that you were trading is actually very similar to what rick is teaching and you seemed to be going in the right direction with that? Any trending method will be tough in these times and when we are at such important technical levels on the bigger time frames. I will post full es charts of yesterday here if you would like? Will be tomorrow as I'm on my crackberry now as pc is sleeping for the night!

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to rassi for this post:
 
(login for full post details)
  #103 (permalink)
 David_R 
Market Wizard
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
David_R's Avatar
 
Posts: 1,559 since Nov 2009
Thanks: 2,306 given, 2,484 received



rassi View Post
Hi david, sure was a tough day, summer lunchtimes are tight so far it seems and low volumes all round. Funny I was reading your journal over the weekend and marks method with the cci that you were trading is actually very similar to what rick is teaching and you seemed to be going in the right direction with that? Any trending method will be tough in these times and when we are at such important technical levels on the bigger time frames. I will post full es charts of yesterday here if you would like? Will be tomorrow as I'm on my crackberry now as pc is sleeping for the night!

Yes, please post any chats.

D

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #104 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,184 since Jun 2009
Thanks: 32,683 given, 99,760 received

@David_R,

Just throwing this out there, have you ever considered swing trading USO (same as CL more or less, but an equity)? I know you probably don't want to do 25k for a day trading account, but you could consider swing trading it for far less, and you can precisely control your risk by buying a small number of shares.

This way you get the volatility of oil, but the risk of whatever you desire. Assuming that you are amenable to swing trading such a stock instead of scalping it.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #105 (permalink)
 cory 
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
cory's Avatar
 
Posts: 6,096 since Jun 2009
Thanks: 877 given, 8,045 received


David_R View Post
Mike,

...
I do like market profile, but I believe there is more to using MP than what I know about. I look at it in a simplistic form, so I wonder if I'm doing the right thing with it. I think it can provide good support and resistance zones and give some structure, but I'm questioning everything. I also found that it sounds good and looks good in hind sight to buy and sell the extremes on the profile etc, but we never really know where those are until after the fact. Plus, those trades that are supposed to be superior in location tend to be counter trend at the time. That is something that has killed me in the past.

...

What do you suggest?

David

you capture my feeling about MP perfectly. Bottom line, one can only trade what one believes in. If you don't have an absolute confident in that indicator then it's worthless not matter who else using it. So what to do? find something so simple that you understand it inside out then only then you can start building your believe in it.

Reply With Quote
The following 3 users say Thank You to cory for this post:
 
(login for full post details)
  #106 (permalink)
 aviat72 
San Francisco Bay Area
 
Experience: Intermediate
Platform: NT,TOS,IB
Trading: ES,CL,TF
 
Posts: 282 since Jun 2010
Thanks: 161 given, 273 received


Big Mike View Post
@David_R,

Just throwing this out there, have you ever considered swing trading USO (same as CL more or less, but an equity)? I know you probably don't want to do 25k for a day trading account, but you could consider swing trading it for far less, and you can precisely control your risk by buying a small number of shares.

This way you get the volatility of oil, but the risk of whatever you desire. Assuming that you are amenable to swing trading such a stock instead of scalping it.

Mike

I second that. If you want to stick to futures and are not scalping then try QM.

Otherwise USO is also a great option. You can try interactive brokers and trade 100 share lots for $1 or less. Again will work if you are not scalping.


Regarding Market Profile: I use the intra-day volume profile to identify areas were potentially we can have vertical moves. You will see them as low volume areas. The price will repel the boundaries or go through quickly. See this post for an example of an intra-day volume profile

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to aviat72 for this post:
 
(login for full post details)
  #107 (permalink)
 David_R 
Market Wizard
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
David_R's Avatar
 
Posts: 1,559 since Nov 2009
Thanks: 2,306 given, 2,484 received


Big Mike View Post
@ David_R,

Just throwing this out there, have you ever considered swing trading USO (same as CL more or less, but an equity)? I know you probably don't want to do 25k for a day trading account, but you could consider swing trading it for far less, and you can precisely control your risk by buying a small number of shares.

This way you get the volatility of oil, but the risk of whatever you desire. Assuming that you are amenable to swing trading such a stock instead of scalping it.

Mike

Mike,

Thanks. I think you may have mentioned this before. Its a thought and I actually may consider it. I feel that swing trading requires even more patience though. I'll look at USO and see .

David

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #108 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,184 since Jun 2009
Thanks: 32,683 given, 99,760 received


David_R View Post
Mike,

Thanks. I think you may have mentioned this before. Its a thought and I actually may consider it. I feel that swing trading requires even more patience though. I'll look at USO and see .

David

Sorry, I couldn't remember if I had mentioned it or not

As for the QM vs CL, I am on the fence on that one. A few months ago I was recommending someone try QM, so I thought I would do it myself for a few days, and the results weren't very good. For my style of trading -- breakout/breakdown -- the spread was a problem. I was giving up too much, or I was getting hit on QM when I wouldn't have on CL, so it really screwed with me. But if you enter based on other conditions (not breakout/breakdowns) then it would probably work ok, as long as you are going for at least 10-12 ticks, otherwise the slippage/spread is going to kill you.

Remember, if you take 4 trades a day with 2 contracts each, and you pay the spread (buy market/ask) to get in, and you factor in commission, you've spent $ 120 that day just to pull the trigger. Do that 250 days a year, and it's $30,000. If you have a $30,000 account to begin with, you could break even on every trade (no losers) and still be broke at the end of the year.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #109 (permalink)
 aviat72 
San Francisco Bay Area
 
Experience: Intermediate
Platform: NT,TOS,IB
Trading: ES,CL,TF
 
Posts: 282 since Jun 2010
Thanks: 161 given, 273 received

Mike:
The issue here are purely psychological. You need to trade small till you are comfortable taking the losses and letting winners run.

QM reduces size and as long as your as you are going for more than 15 ticks will work. Of course once you can master your psychological game, you can always move to CL. Think of it this way, QM allows you to double your loss stop compared to CL. Most of the time a good student is not wrong in his or her entry; where they get killed is in their ability to tolerate draw-downs.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #110 (permalink)
 rassi 
the congo
 
Experience: Advanced
Platform: North sea oil rig
Trading: Cl
 
rassi's Avatar
 
Posts: 926 since Jun 2009
Thanks: 1,558 given, 1,199 received



David_R View Post
Yes, please post any chats.

D

Here is a 15 min day session only of the ES yesterday. I have market it up showing reasons to trade away from the marked areas. You could use either volume setups from Gomi's ladder or Market delta or indicator based triggers on lower value volume charts or dare I say it price action triggers!

Attached Thumbnails
Click image for larger version

Name:	davides.PNG
Views:	230
Size:	44.0 KB
ID:	18043  
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to rassi for this post:


futures io Trading Community Trading Journals > David_R's Trading Journey Journal (Pls comment)


Last Updated on July 17, 2014


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2023 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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