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Crude conversations

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  #21 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
Thanks: 684 given, 401 received

Two closed trades thus far: -24 and -16

Currently in short from 93.31



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  #22 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
Thanks: 684 given, 401 received

1000 tick chart showing a double top.... lets see if it is a sign for a downturn


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  #23 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
Thanks: 684 given, 401 received


+40. Flat and even for the day/

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  #24 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
Thanks: 684 given, 401 received

....from 92.92, stop 93.20, target 92.41


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  #25 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
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Stop at 92.99

This may be a good place for an exit, but this close to the low from yesterday, have to believe it is going to visit it now.


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  #26 (permalink)
Milwaukee WI
 
Experience: Intermediate
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Posts: 17 since Sep 2012
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Thank you for posting, I am very much enjoying your journal. Please keep it up. I have two questions: 1. What would say is your entry trigger? and 2. Do you use fixed .50 targets or targets based on previous support/resistance? Thanks again and please keep it up.

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  #27 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
Thanks: 684 given, 401 received


roreilly View Post
Thank you for posting, I am very much enjoying your journal. Please keep it up. I have two questions: 1. What would say is your entry trigger? and 2. Do you use fixed .50 targets or targets based on previous support/resistance? Thanks again and please keep it up.

@roreilly,

Thanks for following and the interest.

I will answer your questions and go a little more in depth tonight.... had to head out early today for business, but will check in later tonight.

M

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  #28 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
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...pretty bad one, +15, which was my net for the day. Had to leave after that, so no more trades for me today.

Might have been a good thing.... looks like it went pretty much sideways for an hour after that, and then launched again.

Overall perspective on the day on the 250t chart...



and longer timeframe on the 1000t.


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  #29 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
Thanks: 684 given, 401 received


roreilly View Post
Thank you for posting, I am very much enjoying your journal. Please keep it up. I have two questions: 1. What would say is your entry trigger? and 2. Do you use fixed .50 targets or targets based on previous support/resistance? Thanks again and please keep it up.

Lets go with #2 first regarding targets. I will start by saying I am like most - targets and exits are my biggest struggle. A simple reversal to an opposite signal does not work for me because it gives back to much except for the biggest of moves, so I find I have to set a target.

My default or initial target on most trades is 50 ticks - I would like to say there is some in depth analysis that has gone into that, but it really comes down to my observations that there are usually at least a couple of swings on a daily basis that are 50+, and a couple of those can make a lot of negative trades unimportant.

But I do adjust targets based on many things.... the pattern "quality" that initiated the trade, overall market direction, upcoming news, key levels such as prev day highs/lows, and some support and resistance areas. But, I also try not to over think it, and honestly, try to stick with the bigger targets as opposed to cutting a trade short due to panic or wanting to bank some $$. Sometimes it turns on me and I give a whole lot back, but there is always another trade around the corner.

Not sure if that was a good answer to your question, but it was the most honest one I could give!

I will go into trade triggers on the next post....

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  #30 (permalink)
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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Posts: 166 since Jul 2011
Thanks: 684 given, 401 received


Ok, I will try to explain this as clearly as possible, and have no doubt will fail miserably, but here goes.....

Will use short triggers as the example here for simplicity - the reverse holds true for longs.

The quickest explanation is this - I look for the highest high bar in an upswing (don't care if it is an up or down bar), and the entry is the third consecutive lower bar from there.

Damn, this may be harder to explain than I thought.... the highest high bar has to have a bar break it's low... then one has to break the low of that bar.... then one has to break the low of that one, and that is the trigger.

Here, I will leave it to the pics to see if that helps at all....

My chart as I had it today first....




And zoomed in with come bar notations and counts....




See? Clear as mud!

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