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chungp2's Trading Journal
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chungp2's Trading Journal

  #81 (permalink)
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random thoughts/drawing

have watched a lot of webinars in futures.io (formerly BMT)...some random things that stuck in my mind:
  • wait for the best opportunities
  • it is OK to miss out on a trade
  • the market does not care if you were profitable or not the day before...everyday is a new day
  • each trade is 50/50...trade and risk mgmt determines the outcome
  • I cannot control the direction of the market, so focus on the things I can control (risk, size, etc)

had some time at work...drew something up real quick.

Pain of Regret > Pain of Discipline
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  #82 (permalink)
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12/4 Plan

I didn't take any trades today. But I did create a plan for the day. I saw an opportunity to enter at around 9:43 off one of my levels, but I didn't pull the trigger.

Pain of Regret > Pain of Discipline
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chungp2's Trading Journal-es-12-12-120-min-12.4.2012-20.43.30.png   chungp2's Trading Journal-opportunity.png  
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  #83 (permalink)
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12/5 Plan and Review


I took one trade (3 contracts) at one of my levels. I was able to get 2 of my targets filled. My second target just barely got filled. I placed it at a HVN within the developing profile. After getting filled on my 2nd target, price moved up past a LVN and I was leaning on that for my last stop. If price were to break past that LVN and travel through the HVN below that, then my assumption on the direction of the market was wrong. It did break past the LVN and eventually hit my stop. Price then proceeded to plummet all the way down to 1396.75. At that point I didn't have anything in my plan to enter into a trade...so I just sat on my hands.

Will post up charts a little later.

Pain of Regret > Pain of Discipline
Attached Thumbnails
chungp2's Trading Journal-es-12-12-120-min-12.6.2012-0.57.24.png   chungp2's Trading Journal-trade.png   chungp2's Trading Journal-excel.png  

Last edited by chungp2; December 6th, 2012 at 11:32 AM.
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  #84 (permalink)
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12/6 Plan and Review

I took two trades today based on my plan. The first one didn't work out, however the second one did.

I entered long with 3 contracts and got tagged on my stop during my first trade. However, it set up very quickly again and this time entered in with 2 contracts (risk/money mgmt wouldn't allow me to do a 3-lot again). I left my stop where it was after my first target was hit. After price crossed a LVN above, I moved my stop to the middle of the HVN below the LVN that was just crossed. I put my 2nd target at the Micro-composite VPOC (1413.50). This trade took forever to play out. My stop almost got hit. Had it gone one tick lower, it would have hit my stop. Price then reversed. It was starting to get late in the day and I wanted to flatten my position. So I modified my stop to the high of the day (at the time, 1412.75). It eventually got hit. Price then proceeded to go to 1413.50 level (which amazingly ended up being the high of the day). I ended up barely profitable for the day. However, what I am more ecstatic about is the fact that I was able to pinpoint (to the tick) where price was likely heading. Probably not going to happen often, but it definitely gives me confidence in my growing ability to anticipate where the market may move.

Will upload charts and excel journal later.

Pain of Regret > Pain of Discipline
Attached Thumbnails
chungp2's Trading Journal-es-12-12-120-min-12.7.2012-0.29.34.png   chungp2's Trading Journal-capture.png   chungp2's Trading Journal-capture2.png  

Last edited by chungp2; December 7th, 2012 at 08:35 AM.
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  #85 (permalink)
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12/7 Plan and Review

Took one trade at one of my areas of business. I entered in short with 3 lots. My first and second targets were both filled, at which point I moved my stop to BE. Price then moved back up and through my stop.

Pain of Regret > Pain of Discipline
Attached Thumbnails
chungp2's Trading Journal-es-12-12-120-min-12.7.2012-23.5.45.png   chungp2's Trading Journal-capture.png   chungp2's Trading Journal-capture2.png  
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  #86 (permalink)
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Notes to self

-everyday 5:15PM - d/l minute and tick data

-every morning - check footprint chart for any missing gom data...run market replay if anything is missing.

-end of every week - check for missing gom/tick/minute data

review areas of past support and resistance and watch the bid/ask price action.

Pain of Regret > Pain of Discipline
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  #87 (permalink)
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12/10 and 12/11

haven't had time to journal any of my trades b/c of other commitments (visa stuff for my wife).

I have traded the past two days however. Both days were in the red. Trying to keep my losers within reason. It's a little discouraging to see gains being lost again, but I just gotta remember: it's a marathon...not a sprint.

Pain of Regret > Pain of Discipline
Attached Thumbnails
chungp2's Trading Journal-es-12-12-120-min-12.11.2012-6.26.4.png   chungp2's Trading Journal-12.10-trade-1-2.png   chungp2's Trading Journal-es-12-12-120-min-12.12.2012-1.23.11.png   chungp2's Trading Journal-12.11-trade-1.png   chungp2's Trading Journal-capture.png  

Last edited by chungp2; December 12th, 2012 at 10:36 AM.
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  #88 (permalink)
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took a break from trading to take care of a couple of different things for my move back to the states. Was also a good opportunity to run a couple of stats on the market. Nothing groundbreaking, but more or less confirmation for things that FT71 and a couple of other folks on here have already done.

Pain of Regret > Pain of Discipline
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  #89 (permalink)
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New Year's Resolution

I normally don't do resolutions, but I think in trading, one can always improve and make new resolutions, new years or not.

I took a look at the recent video that @PandaWarrior put up on risk and position sizing. Caused me to go back and re-evaluate my own trading and risk plan. I've made some revisions...the biggest one being I am switching over to the YM.

I made a couple of quick YM vs ES points to help in my decision. Also attaching my risk and position sizing calculations based on the video I watched.

Pain of Regret > Pain of Discipline
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chungp2's Trading Journal-capture.jpg   chungp2's Trading Journal-contracts.jpg   chungp2's Trading Journal-daily-goal.jpg  
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  #90 (permalink)
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YM stats


Took some stats on the YM...same as I did with the ES. All data is from 1/2/2009 up to 12/28/2012. It is not holiday or outlier adjusted. Those of you looking at these numbers may want to run these stats yourself. Don't trust anyone else's homework.

Pain of Regret > Pain of Discipline
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