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Pilotui's YM Intra-day Journal


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Pilotui's YM Intra-day Journal

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  #21 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
pilotui's Avatar
 
Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

Kind of...

Tried to guess at an entry and took a quick loss for -8 ticks instead of just waiting for the cross.

have to do better next time. But I recovered on the pull back and entered @ 14400.

Again, did not manage my panic and took a manual exit at +24 ticks ($+125.00) I changed the readout on my DOM to show only ticks and not actual money. (trying to fool myself into thinking about ticks as things and not actual money)

Still learning, but I feel very, very good about where I'm headed.

I am better today because of yesterday and I'll be better tomorrow because of today.


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  #22 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
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Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

Alright, three straight days of a perm-trend chop.

I got a little jumpy early on trying to "cheat" my entry system with some thing I noticed in the charts...I have been practicing with TOS on-demand and going back to random days and trading via simulator. I picked up an add'l entry on a shorter TF which basically gets me into the trade anywhere from 5-7 bars earlier than if I wait for the entry, it also allows me to take an initital stop loss of around 4-5 ticks vs my normal swing high/low SL which varies wildly from 20-40 ticks. So that is a huge development.

My Goal is hit 1 quick swinging trade for @ 50 ticks each day, if the market really swings (on the tick charts) then I'll take add'l trades. With a 5 tick SL and a quick running trade to +50 ticks that is simply awesome.


Ok, to address today's trading:

Patience: Poor
Timing: Poor - I had 3 visible re-entries into the uptrend and stared blankly at both while measuring out small wins (to recent resistance levels) of +11, +6 and +16. Did I take any of those obvious trades? Nope, just stared at the screen.

All together, through poor timing on shorts with small SL's I found myself down -17 ticks on the day.

Then I saw a decent albeit against the trend short setting up. I used my new entry, entered the market @ 14497 Short with a target at the 50% retracement of the AM move up (14480) The best part about this trade was
1- I saw it coming on 3 different tick charts
2- my SL was only 3 ticks (per my newfound earlier entry)
3- I pulled my exit down at the last second and grabbed a few more ticks - but most importantly I exited.

* Since I was down on the day my trading mindset had changed. Instead of having the patience to let this trade play out which set up on my 2 main tick time frames...I just had to take the money and run. Which was being driven by my desperate need for redemption (classic human).

As you can see from the chart I actually ended up +3 ticks which should put me at -$15.00 on the day (I'll take it) after commissions and fee's.

No trading tomorrow b/c of good friday (really? WTF...)

I battled today, and am proud of that...but I am disappointed in myself for getting in a negative position early. Some days will swing and some will perma-trend. This has been a real test of me and my system. Traditionally in Forex and Futures I would have railed hard against the trend of the day and had lost an account doing so. (See my first post/trade shot for a perfect example of how I used to trade against the trend).

I'm still learning and am close to where I have imagined myself for the last 5 years. I just have to keep at it and keep getting better. Making up for losses is part of trading, and I did that successfully.

I'll be better tomorrow, because of today.


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  #23 (permalink)
phl pa. usa
 
Experience: Advanced
Platform: tos
Trading: es
 
Posts: 1,126 since Mar 2012
Thanks: 106 given, 347 received


hey your doing great, keep at it

:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Visit my futures io Trade Journal Reply With Quote
 
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  #24 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
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Posts: 120 since Apr 2012
Thanks: 118 given, 115 received


creekboy View Post
hey your doing great, keep at it

Thanks Sir, reading through your whole Journal was what made me remember all the success I used to have and how I lost it. I have now gone back to my roots.

-Thanks!

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  #25 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
pilotui's Avatar
 
Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

Well, some days you're lucky. I forgot to check the news and sure enough I found myself in the chop early on. -$65.00. Again, not trading the plan. Hmmm there seems to be a pattern developing where I get down first then start trading the plan. Anyway, I had a great short signal with a 6 tick SL...at 0859 right before the ISM news was released it shot up and missed my SL by 1 tick! Then in less than 1 second it shot down and hit my emergency exit of +20 ticks.

I ended up with +$50 pnl closed after that trade. Then watched 2 more perfect setups come and go, each one producing $100 winning trades. (Eventually I will get to the point where I just trade and stop over-thinking).

But all in all I did well. Took one more signal for a short and ended the day +$100.00

So I feel good!

I'll be better tomorrow because of today.


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  #26 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
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Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

at myself. My goal of this session was to "see an entry and take it". I did it on Trade #1, quick hitter to +10 ticks/$50. Done. Ok, waited for next signal...ehhh short against the trend but I took it...SL of only 5 ticks. SL was hit on #2.

Reversed...instead of waiting for the entry (IDIOT!) and found myself panicking when price pulled back...-5 ticks on that one. so BE on the day (not counting comm's).

Now, this is my pattern: I lose first then become hesitant and miss a great signal (see yesterday's post) Today, I won first, then lost, then lost again...and became hesitant and missed a PERFECT, a PERFECT entry: SL from entry was 4 ticks and I planned on YM making a new high above 1600. Yep, stood there and watched as it went up 39 ticks!

Argghhhhh. Then I just went haywire...found myself down -26 ticks @ $-160.00 with Comms.

Calmed myself, hit on a quick continuation trade for +10...and found a (finally) decent short entry with an amazing R:R. My entry short was at 97, SL at 00 (2 ticks) and exit @ 77. I let it get down to +10 ticks before Taking Profit.

So end of the day: I'm done -6 ticks for $-30.00 + @ $57.00 in comms (BRUTAL) I really need to work on the following:

1. Trading no more than 5 times per day (thats (10) contracts...5 buy/5 sell contracts total...puts me at @ $25.00 MAX in Comms/fees)

2. Seeing an Entry and TAKING THAT ENTRY

3. I am already set up to cut my losers short w/ my new SL...I have to find a better way to let the winners run!

Goal/understanding of reality: I will not hit profits on all 5 trades every day. I am OK with losing 5 ticks on 3 bad trades but hitting runners on 2 good trades (20+ ticks each)

Make it happen.

I will be better tomorrow because of today

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  #27 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
pilotui's Avatar
 
Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

A fresh perspective and motivation...is all I need.

My 9 day challenge: Starts 0830 3 Apr 2013

Mission: Profit $100.00 every day for 9 days...NLT 15 Apr

ROE:

1. Make at least $100.00 per day for 9 days

2. Will not exceed 5 trades per day

3. See an entry, confirm on higher TF and TAKE IT

4. Stop Losses are already low <10 ticks, so I will let my winners run

5. Exit on level breaks per my system

I will do this because I can and could have been doing it every day...yet I get "cute" and try to jump trades that are already great R:R trades. I see profit and take it, instead of waiting for my exit signal.

I will be better tomorrow, because of today

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  #28 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
pilotui's Avatar
 
Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

Alright, I did it. +23 ticks on 2 trades! Yay for not overtrading!!!

See you can do it anytime you want...he have to make a conscious decision and have a set plan (ie no more than 5 trades per day)

GOOD JOB!

First short, the market moved so quickly (<1sec) for a 8 tick drop I missed my system entry @ 96ish and got taken in at 84. But for the first time in a LONG TIME...I let my winner run! Moved my SL to +1 for a free trade on the house.

Exited at my Exit signal for +18 ticks!

Trade 2 was just a quick continuation short...easy to see easy to get.

+5

+23 on the day in 2 trades. $100? Check.

I was better today, because of yesterday. I'll be better tomorrow, because of today.




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  #29 (permalink)
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
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Posts: 798 since Oct 2009

good targets,
good chart setup,
good goal,

hope you make it consistently,

also, you might want to thank the YM contract, in that it is tied to reality, and not as easily manipulated as the other contracts that just don't seem to be (tied to reality or an underlying index). NQ, and a few others don't follow the same market constraints as tighly, and as such, would not yield such tight co-relation to their underlying or to the analytics used on your charts.

the crossover method is one of the most complex entry level methods out there. its described in just about every trading book, and TA book showing when and how an indicator is really useful.

somehow you have taken that, turned it on its head and proved with active charts and a reasonable measure of clarity, and achieved success.

hats off to you....


seriously...


((hey, where's my signature of the you tube video of Gene, jumping out of his first floor trading office?))

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  #30 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
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Posts: 5,434 since Jan 2011
Thanks: 6,009 given, 14,221 received



kronie View Post
also, you might want to thank the YM contract, in that it is tied to reality, and not as easily manipulated as the other contracts that just don't seem to be




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April 10, 2013


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