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chungp2's Trading Journal
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chungp2's Trading Journal

  #21 (permalink)
Capt. Johnny Jameson
Fort Lauderdale
 
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stop loss

@chungp2

Hey man are you using a fixed stop on every trade of 5 ticks?...or do you adjust it according to conditions?

great journal keep it up

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  #22 (permalink)
Elite Member
Hartford, CT
 
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Devil Man View Post
@chungp2

Hey man are you using a fixed stop on every trade of 5 ticks?...or do you adjust it according to conditions?

great journal keep it up

Thanks...I'm using a stop of 5 ticks mainly for risk management. I'm still having a lot of trouble reading order flow, so until I get it down, I'm gonna let my stop define whether or not I am wrong. I'm hoping someday that I can get to the point of knowing whether to stay in or out of the trade based on order flow and not my predefined stop.

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  #23 (permalink)
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9/26 Charts


Went back and decided to screen shot my trades for 9/26...here they are

Attached Thumbnails
chungp2's Trading Journal-trade-1.png   chungp2's Trading Journal-trade-2.png  
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  #24 (permalink)
Elite Member
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Self reminder

Placing this self reminder here to test and see if my data feed is as good as DTN's when Big Mike posts up the gom files for september...I need to compare them to see if my data feed can be trusted, especially since I am using delta.

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  #25 (permalink)
Site Administrator
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chungp2 View Post
Placing this self reminder here to test and see if my data feed is as good as DTN's when Big Mike posts up the gom files for september...I need to compare them to see if my data feed can be trusted, especially since I am using delta.

Who is your data feed?

Mike

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  #26 (permalink)
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I'm currently using CQG through a demo account with AMP

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  #27 (permalink)
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chungp2 View Post
I'm currently using CQG through a demo account with AMP

From the conclusions reached here, I would not be concerned with data accuracy:
https://futures.io/elite-circle/3873-analysis-comparison-different-data-feeds-platforms-bid-ask-studies.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #28 (permalink)
Elite Member
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Posts: 123 since Jun 2012
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Thanks @Big Mike...its good to know that there shouldn't be an discrepancies. I appreciate the analysis that others have done...probably still gonna compare because I just need the comfort of seeing it with my own eyes.


Big Mike View Post
From the conclusions reached here, I would not be concerned with data accuracy:
https://futures.io/elite-circle/3873-analysis-comparison-different-data-feeds-platforms-bid-ask-studies.html

Mike


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  #29 (permalink)
Elite Member
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9/27 thoughts

A couple of quick observations in my trading strategy/plan. I have been on a pretty good losing run since I have started my journal. I guess that is not a big surprise considering I am still a beginner. However, my journaling is revealing something interesting in my trade management and PT approach...I realize I only have a couple of days under my belt, but I have added some other metrics in my excel sheet to keep track of.

Thus far I have been using a 3 lot all-in/scale-out method. I am seeing that I am not having too much trouble getting to the first target most of the time. The 2nd and 3rd lots however are just not getting to their targets. Probably due do to the fact that I am still not reading the market correctly. This approach thus far has netted me -$1048.00.

Now, had I been using an all-in/all-out method, with the same PT of 5 ticks on all three contracts, I would be at +$414.00. Not much...but a whole lot better than being -$1048.00.

I will continue to do a 3 lot all-in/scale-out for the next few weeks, but in my spreadsheet, I will keep track of all-in/all-out metrics. I also changed the MAE to "MAE before 1st PT" to see how much draw down I suffer before my first profit target is reached. I am doing this so I can optimize my stop loss later on down the road when I have enough trades to statistically justify adjusting my stop loss.

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  #30 (permalink)
Elite Member
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Posts: 123 since Jun 2012
Thanks: 50 given, 33 received

9/27 Charts


My trades today...only two trades.

First one reached its first PT, but stopped out on its last two.

Attached Thumbnails
chungp2's Trading Journal-trade-1-10000.png   chungp2's Trading Journal-trade-1-trend.png   chungp2's Trading Journal-trade-1-footprint-stop.png  

Last edited by chungp2; September 28th, 2012 at 06:33 AM.
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