FB2012 Friday Stock Day Trading Journal - futures io
futures io



FB2012 Friday Stock Day Trading Journal


Discussion in Trading Journals

Updated
    1. trending_up 7,089 views
    2. thumb_up 3 thanks given
    3. group 3 followers
    1. forum 56 posts
    2. attach_file 25 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 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
 

FB2012 Friday Stock Day Trading Journal

(login for full post details)
  #1 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Hello I decided to start a Trading Journal at futures.io (formerly BMT) because i think it is a good way to keep discipline about journaling and staying on the right track. In the following i will describe a short trading plan.

First i come from overtrading which caused fear about taking positions, therefore i want to get back on track by
trading only one trade on Friday. Why Friday very simple i have time only on friday.
Which stocks i want to trade stock which met certain criteria.
Right now these are, ABX, ACN, AFL, AIG, AMT, APA, APC, AXP, BA, BAX, BBY, BHP, C, CAT, CBS, CLF, COF, COH, COP, CRM, CVS, DE, DFS, DG, DIS, DUK, DVN, EMR, ETN, FCX, GG, HAL, HCA, HD, HES, HFC, HON, HUM, IP, JCP, JNJ, JPM, KORS, LLY, LOW, LVS

For setups i use the approaches covered by George Douglas Taylor, Linda Bradford Raschke, Barry Rudd and Oliver Velez.

During Trading it is necessary for me to constantly Log my thoughts by typing to my log after i entered the position.

I will clarify my approach in the following weeks.

Position Size it is very small right now. I will use the DDRL formula described by Robert Deel in his book to increase or decrease my position size.


But for today i picked three interesting stocks
1. AMT it made a wide day yesterday, which makes it a setup for Barry Rudd's wide range day method. Because AMT is not near an daily or 15 minute time average described by Oliver Velez i would favor a play to the long side.

2. LVS It made also a wide day, i prefer also a continuation on the long side but LVS is in a wide channel which makes it choppy.

3. KORS also made at a wide range day but it stopped on a resistance. Therefore this would be a candidate for short.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to FB2012 for this post:

Can you help answer these questions
from other members on futures io?
Is there a way to rename an existing trade?
MultiCharts
Noise: A source of your errors?
Traders Hideout
NT8 connectivity by FXI API to unsupported brokers?
NinjaTrader
EasyLanguage: fetch option price using Stock ticker
EasyLanguage Programming
Power Meter for Ninjatrader (like Jigsaw or similar)
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on futures io
How much do you know about Bitcoin?
97 thanks
I finally blew up an account
52 thanks
FIO Journal Challenge - April 2021 w/Jigsaw Trading
38 thanks
EdgeProX from Edge Clear
22 thanks
The tiyfTradePlanFactory indicator
21 thanks
 
(login for full post details)
  #3 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received


I am now entered into KORS because it showed a good continuation Pattern on the 1 minute chart therefore i think
it will make it over the daily Ma50. Entry was at 56.88 stop at 56.65

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #4 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Just after I entered the entry to the forum I was stopped out. :-D

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #5 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

I call that what happend self destructive Trading,
i do not know how it happend that i done exactly the opposite to my previous made analysis
without having a reason on the chart to do that. So in general that was a discipline problem.
I had a bad night yesterday my meal was not very well suited to show good performance, but
that are just excuses, even if a trader is not in top physical condition it should be possible to stick
to it's plan.

I am not sure if the reasons for those mistrades, which happend to me several times, do not have
a fundamental reason. I have not thought about such a possibility, yet.
Can it be that i am afraid to win ? There could be a reason to be afraid about winning.
The only reason why I could be scared of winning is maybe that trading (life) would become too easy for me.

So i hope it was just a discipline problem, because that can be solved by training and sticking too the plan.
Or taking a cold shower everytime such a mistake will occur, which i will make right now.
I never done that before and hope it will bring the expected effect. I think i got that advice out of Jeff Quintos Webinar.

Ok next time i will stick to my previosly defined plan.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #6 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today is a holiday in Germany,

therefore i have time to trade.
My candidates i keep special focus on today are
1 . AMT if it mange to break over 84,29 i guess it can keep on trading up.
2. C Amibroker showed me a NR4 PAttern which can result in a wide range bar if it breaks above YH or below YL
3. LLY is trending down if it breaks below a previosly made hammer and retests it. This should be a good short candidate.
4. HLF seems to be a good short candidate because it is near a long term downward trendline.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #7 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today I followed my plan.
First of all AMT showed very high volatility and was not tradeable for me today.
Second the other setups did not show up except the break out within C was tradeable for me.

Attached is a screenshot of my trade for today .




I maybe could have come into this trade a little bit earlier but on the other hand the half way retracement which
formed my entry was good enough for a over all profit of 37 ticks.
Even if that was not my target i can be happy for having followed my plan for today.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #8 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Therefore i am looking for good stocks
which have a good propability to move strong and fast tomorrow.

1. EMR is now in an Intrady widening triangle, near the upper resistance.
Therefore i see two scenarios 1. The resistance will hold and EMR moves fast down.
2. Alternative the EMR will break at the open the upper resistance,
and it will make a retest in the first half hour.
2. HES seems to show a similar broadening wedge scenario on intrady time scale.
3. HUM made an interesting pattern which could result in a wide downward movement.

The other secondary nice scenarios would be
1. LOW which is now on resistance trendline. And could break that tomorrow resulting in a big move upwards.
2. LVS is also at a upward resistance trendline but formed a spinning top, which could result in a downward move tomorrow.
3. IP made a breakout from a bear wedge which can result in a retest of the lower trendline of that wedge with an upward move or with an sharp downward move a continuation of the started breakout.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #9 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Ok today it was a very strong opening within the S&P and worldwide.
Therefore EMR and HES made an breakout right from the beginning they were very stron rising.
But i always try to enter on an retracement after the first move during the first half hour.
This has not worked within HES and EMR, therefore i could not enter. HUM made the predicted wide downward movement but because of the strong overall market conditions i dismissed going short. This time it was an error but
on the long run i think that is the better solution.

Therefore only the secondary stocks werre left.
During the first half hour LOW showed a rising wedge near the open which i used to enter a long position in LOW
and was nearly stopped out at break even after that LOW retraced the downward movement which i used to exit at a higher price than my nearly triggered stop. I could have stayed in but in the end my stop would have been triggered.



I made with that trade only 17 ticks with an initial risk of 20 ticks that was only a breakeven trade.

The better choice for today would have been definitly the scenario of IP which managed to run up 100 ticks.
So i conclude no time for party but also no reason for a cold shower i think that was just a clean managed trade.
Especially the entry was in my opinion a very low risk play.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #10 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received


For today i spotted the following stocks
as most likely Longs
1. APA because it made a long green candle yestarday and broke through a minor Resistance.
2. BAX looks good because it made a WR Bar following Rudds Setups This can made either Long
or Short.
3. C seems to be a top candidate for long because it made a great breakout from a wedge type
daily formation and has no major resistance in its way.
4. DUK can be a good entry for long because of a ROC 2 pattern shown by Linda Bradford Raschke

Short Candidates
1. CAT because it is near an resistance and made WR followed by a Narrow Range Bar which
is a Setup following Barry Rudd. But it could be also a Long if it starts low during because it maybe
made a continuation pattern intraday.
6. LOW made a big green Bar which has a high shadow at the top. This is also near the projected target of
a previous made wegde type formation.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #11 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Great today i made two mistakes
1. i did not enter following my setup and was stopped out but my stop did not work so i had to exit market.
26 ticks minus.
2. I wanted to fight back and entered another trade against my rules to wait until the next day for trading.
So i am not allowed to trade tomorrow and must take a cold shower. Which resulted in 18 ticks minus

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #12 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For Tomorrow i have chosen the following candidates to keep an special eye on.

1. CLF as a potential breakout up because first it reached a ROC2 criteria and second it is a 1234 following Jeff Cooper so two patterns support a potential up. And second today intraday price action showed a higher low which could be first sign for a up move.
So if it can open tomorrow above the 15 min 25 average it is a buy from the beginning on.
2. LYB is in my opinion also a good buy because it made a continuation of its up trend and also made a continuation pattern within today intraday time frame. But i would it make a strong buy after it has touched the first time the 15min 25 MA.
3. HES shows a ROC2 in a extreme reading and also closed above the 15min 25 average, which makes it in my opinion a weeker buy opportunity.

As short candidates i count HD and its sister stock LOW both show reversal bars and HD even started a strong downward move today so i put them on short watch list.
APA is in my opinion also a strong downward mover. Because of the big pattern it made intrady, which could be seen as shoulder head shoulder formation.
On the opposite it shows a very low ROC2 which could make it a reversal candidate. Therefore APA is not as bearish as HD and LOW.

Right now i have three candidates on every side, for tomorrow trading that should be enought for watching in realtime scanner.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #13 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

First of all, today i traded my plan but after i realized that there was no
tick data displayed for clf i switched to 1 minute data which showed an actual price.
Because the price was above the 15min25 MA i decided to buy near the opening.
After some seconds i realized that the 1 minute chart was not moving, but
my P/L received by the broker was moving. So i realized there must be something wrong
indeed i closed my position because i want to avoid getting in trouble because
of a malfunction of my technical setup. Everything could have been the reason connection to
datafeed some internal bug in chart software. Ok i had luck today and realized a breakeven win of 8 ticks.

To conclude i will not trade on next monday which is a holiday in Germany but i will trade on my demo account
to gain confidence in to the now slightly modified technical setup.
I am happy that i only trade small sizes just to get familiar with handling such problems which seem to happen in
reality, but non during replay or papertrading.

On the other hand i followed my plan the stocks i picked, were correctly analysed. Even if the CFL buy was for today not profitable. But the LYB would have been if i would have waited long enough for the initial pullback during the first half hour of the opening. During the opening i decided to buy clf because as analysed i gave that setup more propability to play out.

To conclude i must not take a cold shower but there is still no reason to have a party.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #14 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

I decided to trade even if i had a bad day on friday reagarding the technical
setup. I think it is fixed and therefore i trust the technical setup again.
Therefore i spotted the following stocks for tomorrow trading day.

1. BAX as a short candidate because it made more wide range bars in the last sessions.
2. HFC for a short trade when it opens near the 20 daily MA it can be a good short opportunity.

3. JCP as a long candidate because it made a very low ROC2 reading and therefore can advance in the next session.
4. JPM as a candidate for touching the 15min20 MA during the first half hour it also made wedge like continuation pattern to the end of last session.
5. HAL looks also like a good opportunity for a continuationit should play out by starting down testing the 15min20 MA and then continue its move up.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #15 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Ok today i nearly fullfilled my plan.
I used HFC to trade for today. But i entered to early in short direction, which resulted in a loss of 20 Ticks.
Then i decided to enter again in the same direction but at a higher top, this resulted in a profit of 70 Ticks.
For the last trade i reduced the position size by one half.

Right now i made 8 trades and this leads to a DDRL respecting the last halfing of the position size of 0,95.
So it is still open to get better so i will just make a good job for the next trades and get that DDRL over 1.

For trading two times today i will have to take a cold shower.

P.S The DDRL formula is as follows :
(Number of wins / Num Loss)*averageWin/averageLoss*cumWin/cumLoss

When the DDRL is over 2 i am allowed to upgrade my position size.

Attached Thumbnails
Click image for larger version

Name:	20130520.png
Views:	73
Size:	36.7 KB
ID:	113083  
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #16 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Ok because on Wednesday a sharp decline has been shown for the S&P500
a correction of that was undertaken on Thursday. For today i see the S&P500
again in a weak rallye mode.

Therefore i will overweight the buy side.

1. C shown a ROC2 and a Rudd wide range bar Therefore it can be seen as a buy for today.
2. LYB shows a pattern following Jeff Cooper and also made a widerange but is not a strict Rudd pattern.
3. HAL a 1234er jeff Cooper and closed above the 20MA daily, which can be a sign for a big reaction upwards.
4. BA is also very strong it shown 3 patterns a slingshot a 1234 and a widerange bar. But it is near the 100 level
which will be a psychological resistance.

For the short side i have the following on my watchlist.
1. GG does not look very strong because of yesterdays bar i anticipate a continuation of the downward trend.
2. BHP if it opens near the MA 20 daily and this holds as resistance it will continue to move downward.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #17 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Ok i went short in GG,
but immediatly after that i was stopped out.
I managed to reduce the loss by adapting my stop to the technical situation.
Because it made sense to place the stop near the 15 min MA20.
So i lost 16 Ticks today. Therefore my DDRL goes to 0.706461.
Even if i have not yet traded 10 times after which i am allowed to adopt the position size,
it seems to me a good idea to reduce my position size, to the absolute minimum.
I have to think about that.

In my opinion it was a good trade, the setup was as it should be but it just has not worked.
Therefore i must not take a cold shower

This fact supports to wait one trade to make the decision to reduce or not to reduce.



Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #18 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For today i only spotted three candidates for trading,

DG as a potential short candidate if it touches the 50MA daily.
APA as a candidate for a short when the last high gets touched.
AMT because of the strong reversal formation yesterday it may stay in an uptrend

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #19 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today i only concentrated on DG after APA has moved in my opinion too fast away from yesterdays high right after the open. AMT made a Topping formation, which i could have used for a short but i focused my concentration on DG.
I followed my plan and took a short trade at my predefined objective point. This turned out to be a winner making me 50 Ticks. This was my tenth trade and therefore my first DDRL is now at 1.6168 this means i can stay with my actual position size and must not reduce it.



The entry and exit points on the chart are a little bit time shifted i exited the trade on the last displayed grey candle.
Which showed a choppy behavior. Therefore the long tail became a target. Because the price also was near the last high i thought it is the right time to exit.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #20 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For tomorrow i have the following stocks on my watchlist :

Short
1. GG is my favorite for a short entry target for the entry would be the 50 MA daily if that region is reached during
the first half hour it should be a good short.
2. CLF is the second for a short entry target for the entry would be the 20 MA daily if that region is reached during
the first half hour it should be a good short.

Long
1. AXP is below its 20 MA daily and made a reversal candle today so if it opens above the 20 MA it should be a buy after a succesful test during the first half hour.
2. I forgot KORS if the todays LOW is tested tomorrow it must be exactly reached it can be a good buy.

Thats it for tomorrow for the others in my list i have not found good trade ideas yet.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #21 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today my setup for GG evolved too fast, Therefore i concentrated on CLF.
CLF made my day. But my entry was not very skilled. I wanted to short on bid but the traded price run away therefore i had to enter again on the bid which made my price bad i also realized too late that my first order was not filled. Ok anyway the trade resulted in a acceptable profit of 61 Ticks. Having made a bad fill the trade was not very easy on the psychological side. During the first running against my stop i had to say to myself again and again that the double top with a lower second top will work out even if the price action is evolving very slow.


My profit target was the 15 min 20MA in green.
But right now it seems the price is still running down.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #22 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

The following picture shows the complete price course for the trade on the 7th June 2013

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #23 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today i revised my stocks watch list.
In my opinion it is better to trade stocks between 15 and 50$. The other criteria can be seen in my attachement.
Those are just to ensure that the stock i use for day trading have enough average volume to deliver clean movements during the day session. A, ABX, AIG, BBY, BMY, C, CBS, CLF, CRM, DFS, EWZ, FAZ, FCX, GDX, GG, HAL, HTZ, JCP, LEN, LOW, M, MET, MRK, NEM, OIH, PHM, POT, TNA, TZA, VLO, WAG, WMB, XIB

I dropped GE VXX RIO even if they were found by my filter. They had to much Gaps or showed a long period in history with only small ATRs.

Attached Files
Register to download File Type: afl Vorauswahl.afl (692 Bytes, 2 views)
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #24 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For Tomorrow I would prefer the long side. The S&P has made 2 days on the short it is time for a reaction up.

The stock I see on long are:

CLF seems to be a good long because it is in a longterm sideways range and made two down days.
HAL because it is near a previous swing low at 41,37 to 41,60 as an entry zone
I will change to favor BMY instead of HAL, because it is possible for that stock to reach the MA 50 daily for a long entry point.
LOW is also near an old swinglow by 49,43

The short options are
MET if it can test the todays intraday high at 45,90 it is a sell.
ABX and GG as trend continuation, if they open with a gap the testing of the open should be happen before 10:00 EDT and this is my short entry condition.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #25 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received


Today I was not able to follow my plan for today.

I entered a short trade even if I thought that the broad market will go up.
If i had followed my plan i maybe would have taken a long trade and got stopped out anyway.
But that does not matter, I entered a short for MET and got stopped out with 15.5 Ticks minus.







My entry was very early so today I had a lack of patience which lead to not stick to the plan of today.
Therefore I had to take a cold shower.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #26 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

I will have no time to trade tomorrow.
Therefore I took a holiday on Monday to do my Trade.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #27 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For Monday I have focused on the following Stocks.

Long
1. Both GG and NEM made very large bullish candles on friday, this can lead to a trend continuation on monday.
2. BMY is near the MA50 if it touches there it can react to the upside.

Short
1. JCP looks like a good short because it is near its MA50 on the downside if it touches this it may react very hard to
the downside.


Breakout Mode in both direction
The Last 3 days in CLF look like a triangle if a breakout comes above it will be a good long else a good short.
But i favor the breakout on the upside this seems to be more likley respecting that CLF had ben fallen very long.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #28 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

1. Ok let`s start with the good. I managed to make a profit. And I followed my predetermined plan but
2. The Bad I could have made more out of that trade. During the session
I made a decision to exit after the first leg of the movement. I definitly told me to hold
the position just before the close. But I could not stand the counterreaction.
I should really find a solution for that. Multiple exits would be one solution I play with in my brain.
But it is not my strategy, my strategy should be to hold a trending day and that was what I have seen
in JCP should be played until the end. But I still exited to early. This early exit made me loose about 20 Ticks.
Right now i only made 33 Ticks.
3. The Ugly My PC crashed during my position was open, it could be recovered very fast and prevented my maybe to exit without a profit. But that should not be happen again. During the crash I was not very afraid because my stop was placed at the broker. But still this event caused may Platform to display only the actual day after the PC was recovered.


Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #29 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

At first I just started to use the DDRL formula as I found it in the book from Robert Deel.
My understanding was that it is calculated by the following approach.

Number of Wins/Number of Losses * (AverageWin /AverageLoss )*(Cumulative Win)/(Cumulative Loss)= DDRL

But this can be simplified to ((Cumulative Win)/(Cumulative Loss))^2 .
After reading again some articles to that it turns out that the understanding of Deel was that just
the (Cumulative Win)/(Cumulative Loss) represents the DDRL measure.
Having values above 1 would increase the squared DDRL as I used it in favor of taking higher risk.

Therefore I have recalulated my DDRL for the first period using just the ratio between cumulative win and cumulative loss. This will lead to a DDRL of 1.27 it is definitly over one but much smaller as the original one.

For the next decisions I will use the non squared version, because in that case it just seems harder to reach values above 2 or even 3 which will lead to a doubling or triplicating of my position size.

It is my target to reach a high ratio and a ratio of 2 should be possible.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #30 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

It is friday tomorrow and today was a holiday also the day before was only a have day.

For long entries I have the following stock on my watchlist.

1. BBY it is right now in an triangle after an sharp up move, maybe it will open with an breakout
showing a continuation possibility.
2. AIG is near it`s MA daily at the low side so it reverses there maybe.

Short Setups

1. LOW made a kind of a topping formation, if it tests the 2day high it can be a good short.
2. WMB could be a good short candidate by a test of the MA 20 daily

For both directions
1. CBS it looks like it was in an triangle but started to breakout yesterday. But a reversal can be possible, too.
If it opens at yesterdays open or low I would go long anyway.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #31 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today I made everything as i planned it.

The only setup which corresponded to the plan at around 10:00 EDT was
LOW therefore I went short in it. Result was a small win of 12 ticks.
I could have exited earlier, but I wanted to play for a trending down day.
Maybe because of the low volume it made a more or less range day.



No cold shower today. I maybe could think about my exit strategy but as far as i see it now
I will not change it yet.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #32 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For today I have the following setups to play:

Long
  1. C it is near its daily MA 50 when it opens lower than yesterday and tests this level in the first half hour it is a buy.

Short
  1. LEN in case a big gap occurs there is the opportunity to test the MA 50 which will lead to a good short sale.
  2. ABX same setup as with len but in this case the MA 20 is my objective entry
  3. VLO same as the setup with the MA 20 but it is also possible to only test the 3 days high and start a decline from there.
  4. PHM MA 20 can be tested today this will lead to a short entry.

In summary I have more short setups than long setups. This should respect the case that I see the ES near a last pivot high which can lead to a reversal formation today. Therefore respecting the broad market trend for today I will
focus on the short side.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #33 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Ok, first my setups just worked not today. It was not a short but rather a long day.
I should have noted that after VLO closed its downgap and rallied to the MA 20.
First mistake I made was going short not around 10:00 but at 9:45 that resulted in a loss.
Instead of accecpting that, I made a mistake I just wanted revenge. This time I went short near the MA 20 and around 10:00, but still I can see so many reasons for cold showers I decided to take
every day until Thursday,the next trading day, a cold shower.

Picture below shows the rally I tried to fight against, what a stupid idea to think that after a rallye starting
at a gap running more than 100 ticks it is a good idea to go short.



The next picture shows my etries and exits.



After thinking about what was going on in my mind.
The first entry was just stupid, I should not having traded today.
Because for today I just had no setups which were working at the opening.
This can be seen as a violation against my trading rules. The only stock which was near my setup was
VLO therefore I thought before I do nothing today I have to take that trade in VLO.
I think this thinking that I have to trade is very dangerous, but it results from my rule to trade only the days when I have enough spare time to do daytrading.
This made me think I have to trade today. And that resulted in two losses.
Just that easy.
The question is now how can I avoid such a situation again.
Maybe it is a good idea to tell myself if I am not able to take a trade on one friday or holiday I am allowed to
take two the next friday or holiday when I am able to trade.


The other problem I currently in, is how can I reward myself when I done everything correct.
This reward should be possible to get without paying money. Because I do not want to spent money when I lost
with my setup in case I have done everything correctly.

I will be able to think about those problems during the next cold showers I have to take after that stupid trading day.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to FB2012 for this post:
 
(login for full post details)
  #34 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Ok last time I done some stupid mistakes,

Therefore I had to think about how I could reward myself in case
I sticked to my trading plan. Everyday I took a cold shower to get reminded that
the next time I will care about my predefined plan.
My solutions.
1. To reward me I decided in case I done everything right I will take the sunday off and
go swimming, ( I had other suggestions in my mind but most of them would not improve my health )
swimming seems the best solution because I like it it is cheap in price and last but not least it helps to
improve my health.
2. I decided if I cannot see a correct setup, than I will not take a trade on that day.
Instead I am allowed to take two trades the next day I can trade. ( There is still an open question what to do if I cannot see two correct setups on that next trading day.)

For today I picked the following opportunities.


Short
  1. ACN is near the 20 MA daily and therefore could make a intraday test during the first half hour of that level.
  2. MOS is not in my trading list right now, but I have seen a harami which could lead to a continuation of the bearisch trend today.
  3. BA I still have it on my watch list even if it is very high priced but it made a NR4 started by a big bearish bar. If BA
    tests the previous high I think it should be a good entry playing for a breakout of that previous range.

Long
  1. CRM made yesterday a breakout from a triangle this can be continued today. But this can be a dangerous setup to play because i expect to have to enter during maybe the first 10 minutes.
  2. BBY is near its MA 20 daily a test of that could lead to a bullish day.
  3. M made two previous bearish days and is on the lower part of a sideways trading range in an overall bullish trending. Therefore if M tests the yesterdays low this can be a good entry.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to FB2012 for this post:
 
(login for full post details)
  #35 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Ok I traded my plan, but I just traded the wrong plan.
In the current broad market situation it was a bad idea to go short.
But right now the S&P500 is near a previous high and I thought it could be
a reversal situation today.
Therefore I have chosen the setup to short BA.
First I was only filled by the half of my planned position size and I have not sold a second time.
The order was in the early segment of my entry time objective. Having waited a little bit would have been
the wiser decision. Therefore I maybe had a lack of patience today. Result -14 Ticks, not a big loss.

Anaylsing my last trades shows that I just prefer the short side. I maybe have to think about ways to
capitalize on the long side more often.


Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #36 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Long
  1. PHM can touch the todays low at the MA 20 daily this would be the entry point
  2. M is near the MA 20 daily and it could violate todays low this would be a good entry point for long side
  3. MRK looks just the same but has a little bit more momentum built to the downisde therefore I would expect a greater violation of the MA 20 daily
  4. AIG looks like beeing in an ascending triangle which can lead to breakout tomorrow.


Short
  1. CLF can make a big up gap during opening and than touch the MA 50 daily this would be a good entry point.
  2. WMB can touch MA 50 tomorrow if it makes an upside gap before that it would be a great short setup.
  3. JCP can touch tomorrow the MA 20 and violate todays high which would lead to a good short setup
  4. MOS same setup as today breakout from a sideways range to continue to the south.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #37 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

, while perhaps not as sudden as for those who dare too much, is equally sure and certain.
borrowed from the book Viewpoints of a commodity trader . Roy W. Longstreet.

And today I have on one hand dared too much and on the other dared too less.
I entered the trade very early because I recognized a ascending triangle during the first 15 min.
I entered on the breakout, even if it was not in my entry time zone I consider that as a good and sure entry.
Such triangles showed in history a reliable entry point. Anyway I consider that as having dared too much because
of entering very early.

I maybe have to make a software lock to stop me starting trades before 9:50 on the other hand maybe it
is better to do some exercises for building up patience. One suggestion was to go to the supermarket and when
you are just before the cash box, turn to the end of queue. Taking cold showers seems to be very common to me now and I doubt if that will help me to overcome my patience problem.

The second sin I made was that I exited too early, the long sideways line after a retracement to the open,
which I considered at that time as a normal behaviour, but that long sideways line just shaked me out.
I closed it by hand my stop was placed just 5 ticks below, therefore it was a very strange reasoning of me, the stop was placed at a little swing low, at that point the trade would have ended.
Those 5 ticks are nothing, but I considered em as enough to close the trade.


Below my entry in MRK is shown. Result minus -10 ticks.

@Big Mike thank you for the two thanks showing that you are watching this little journal, it gave me good motivation to keep me on my chosen track.

Today was my 18th Trade therfore I am still at the start. Therefore I consider those obstacles I am now facing as a temporal starting problem.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #38 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

and I will trade.

I have the following stocks in my tomorrow watchlist.

Long
  1. LOW made two bearish candles and reached nearly the daily MA 20
  2. MET is near the daily MA 20 and is in a bullish trend


Short
  1. NEM is near the daily MA 50 Entry point is near the previous day high. NEM is my favorite because of the high ranges made in the past.
  2. AFL is in an uptrend therefore a minor short possibilty if it reaches the two days highest high. or the stalls at the previous high
  3. VLO is in a trading range with alternating up and down candles if it tests the previous day high during the opening session it should be a good short.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #39 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today, I followed my setup, but lost money anyway.
In my opinion I placed the stop correctly after LOW seemed to form a ascending triangle
after the first half hour. The stop was placed near the third swing low.
This trade ended with 5 Ticks minus.



Only one trade to complete my ten trades to calculate my DDRL value.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #40 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

I have selected the following setups for my watchlist.

Short
  1. AMT test of the 20 MA daily will lead to a short setup
  2. APA seems to be a great setup for testing the old high during testing the 20 MA daily.
  3. APC could test tomorrow the level around 91 leading to a falling back to the 20 MA daily.
  4. CAT seems to be also a great short setup if it tests the MA 20 daily during the first half hour of tomorrow.

Long
  • HFC if it tests the level around 45,80 during the first half hour this can lead to a good buy setup.
  • LEN if it tests the level around 33,70 it can lead to a good long setup

Both directions
  • WMB is identified as a Rudd setup and therefore can lead to a short if it opens above yesterdays high. If it opens at the close it should be treated as a long. Because the W/R bar just started a breakout from a trading range there is a high probability of followin up.
  • MET the same setup as for WMB

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #41 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today I followed my setup for WMB, but it was just the wrong setup.
And therefore I took a small loss of -5 Ticks.
Nothing else to say, the other setups would have been profitable e.g. LEN if traded
after the bullish gap up. But my setup for that was a test at the previous low.
Also AMT performed bearish.
APC would have been a very short lasting short.
APA did not tested its previous high during the first half hour therefore no setup.
CAT would have been a good buy setup beacause it nearly tested the low of previous day.

Both Rudd setups failed.


Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #42 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For tomorrow I have selected a very short watchlist.
I also decided to be allowed to reduce position size to one half my base position size,
in case I think there can be two setups traded.
Therefore I decided to trade a maximum of two setups with one half the base position size.
This should enable me to generate more trades and therefore have a higher statistical significance
for calculating my objective criteria.


Long
BA target of entry should be around 105,4

Short
  1. APA entry target should be the violation of the high around 83,27
  2. CAT around 84,6
  3. KORS entry target around 72,2

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #43 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Yesterday I traded BA during the opening and managed to get 30 Ticks out of that.
I know it was not at my target time, but this was planned. Because I have done a review of my entry time strategy.
This showed that most of the time high and lows are made during the first 10 minutes.

The second trade was made in CAT and delivered a loss of 20 Ticks.
Both trades were made according to my plan and therefore it was a good day.

BA


CAT

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #44 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

therefore I will do trading.

Today I picked the following stocks for my watchlist.

Long :
  1. LVS is neart its MA20 daily which may hold as support delivering todays low
  2. AFL it is the same setup as LVS

Short:
  1. ETN is near its MA20 daily which may hold as resistance delivering todays high.
  2. APC same as ETN
  3. BHP is in a 4 day upward trading range, if this is tested at the upside or broken at the downside it can lead to a good short trade.

For the overall market I would expect a downside bias for today. Therefore shorts are preferred today.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #45 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today I made two trades.
BHP failed after I started the trade too early.
1 bar after the open is not ok, I think a cold shower for that is adequate.

The second one was ETN. This setup was not correct but I traded in the short direction after ETN made a break
through the MA 20 daily.


Result were 40 Ticks plus.

For tomorrow I have the following setups.

Long :
  1. LEN If it breaks through the MA 20 daily it should be a good buy.
  2. JNJ can test the MA50 daily and result in a fast up move.

Short:
  1. APC can test the MA20 again and build the daily high after the open.
  2. BA broke today through the MA50 daily, tomorrow a retest can happen and result in a down move again.
  3. CAT can test the last high which can result in an sell off.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #46 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

First i entered into APC but that just turned up after my short entry.

After that I entered LEN this was a good entry, but I started to get nervous after the first
retracement was made. I exited at the bottom of that my initial stop would have triggered at that time.
Therefore wrong decision to exit.


Consequences of that day. I think it is a good idea to wait until 10 minutes are passed after the open.
Second consequence is, I have to wait until my stop is trigger and that should be done even by
hell and high water.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #47 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Two long setups and three short setups for tomorrow.

Long :
  • HFC Made a triangle this can lead to a breakout to the upside tomorrow
  • LEN made two higher bottoms and today was a consolidation type day. This can lead to a breakout to
    the upside tomorrow.


Short :
  • APA had a up move of three bullish bars and this could lead to a down day tomorrow.
  • APC Is between its daily MAs and therefore test tomorrow the MA20 this would be a good entry point.
  • JPM is in a downward trend and built a triangle today this can lead to a breakout to the downside tomorrow.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #48 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

It is bad that I have to trade on friday, it was always my down day.

Ok anyway first I mixed the setup of LEN my system said it should be a short but I prepared
for a long.
When I realised that the move was a way to long but I entered because I did not want to miss the move.
Because this was an error I exited the trade immediatly afterwards.
The first trade I done today was APA it also resulted in a loss. It was also a short.
And then violating my rules again I entered another short trade into APC this resulted in an loss too.

Today I lost 64 Ticks today. Nothing to say anymore about that. It was a very bad day.
Right now I done my 9 th trade in the current calculation round for the DDRL.
It seems that I will go below 1 this time. Therefore the next friday I will be allowed to trade only one trade.
After that I will calculate the DDRL and decide what to do next.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #49 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

all the last days should be forgotten.

Short
  • LEN Stopped its rally today near the MA 20 therefore this is a good level to enter a short trade tomorrow.
  • JNJ Is in a downward trend and formed a continuation pattern by two dojis. If it touches the previous day high this is the entry point
  • COF Same as JNJ
  • IP Built a downward trendline the previous day high is the target for entering the Short trade

Long
  • HD is in a short up trend it reacted today and may start a rally neart todays low.
  • APC is in the same situation as HD but is above both daily MAs and therefore maybe the better trade.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #50 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

I think it is maybe a good idea to stop trading, for the next two fridays.

Yesterday I was focused to do a long trade. This was maybe a bad idea from the start because the holiday on monday may have attracted selling. But I have not considered that before, I also have not considered that the S&P500 was in an short sale mode following my system. Therefore the overall broad market was not considered as well.

I have done two trades one in HAL and one in HD they resulted in an overall loss of 31 Ticks.
HD was done after the loss in HAL therefore I used a reduced position size of only 20 shares.
This was done because with the loss in HAL my DDRL was fallen below 1.
Therefore I had to reduce the position size in an extreme way.

After that I will continue to trade on friday with highly reduced risk leading to odd lots. This enables me only to practice but there is no potential to earn any money. I decided to use a size of 20 shares. Using a profit target of 40-60 Ticks this leads to a potential win of only 8 or 12$. Therefore I can still be break even. In case my overall objective the DDRL is after 10 trades again above 1 I will go back to round lots.

For the next trades I will use predefined setups but I will also use my RT scanner to find setups in realtime.
Therefore there will be trades, which have not been discussed the day before.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #51 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

because of time problems with my main job, it will not be possible to commit enough effort into trading in this month. Therefore I have to stop trading on fridays for the rest of the month.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #52 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

I still have to much work in my job, therefore it is necessary to stop trading in october, too.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #53 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

however, I will reduce my pre analysis posted in this forum.
Therefore, I will post only symbols, which I think will deliver a possible entry.

For tomorrow those are:

long potential
BA,LVS,CRM
Short potential
KORS,APC,VLO

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #54 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

However, my entry was too late, i think multitasking is just a hard thing to do for me.
I entered on seeing a up gap and a continuation pattern. The high of last day was primary objective this was reached during the first half hour of trading, therefore I quit the trade after i realized that my stop was to far away.
I have done a mistake and corrected it, anyway afterwards it would have been the better decision to stay longer.
Conclusion i have to improve my scanner routines to fetch such a pattern faster.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #55 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

During the last months I tried to trade almost every day.
This made me learn a lot of things about trading stocks and my approach.
Therefore, I decided to start journaling at bmt again, however I will try to focus on two days in the week.
I will stop greying out my position size, it is just too much work for me and I think I do not have a benefit positing
pics with greyed out position size. I will not post them at realtime, so I can focus much more on trading.
I will post them afterwards.

During the last months one interview with Roy W. Longstreet, Interview Roy Longstreet, which influenced me not to try to fish bottoms or catching tops, but instead entering maybe a little bit afterwards when the formed top has been built and gets retested again.
This ensures a higher percentage of winnings I think.

Roys main statement made in the interview was to focus more on possibilities not on probabilities,
I think this is a very flexible way to state that the stop location is very essential so stops should be placed as tight as possible.

All that led me to the conclusion that I have to get more patient and avoid entering during the first half hour.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #56 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Last Friday was just another day, I got out with a plus.
However I could have been traded better, if I had kind of a magical foresight to the future.



My first trade was long in MPC with only a small position size accounting for the high expected average true range
in the minute chart. However I closed it with a tiny win. Having seen that previous price action I could not
imagine it will go up for long. This was maybe to early but a short play would have been the better trade for that
stock on friday afternoon.

Second was a long trade in HES closed my position during a high volume bar formed. It was nearly at the top of the day.
So good decision to close out.

Third was a trade in CRM a small consolidation formed near the open of the day I expected the previous up move to continue, therefore I opened a long position. I closed it in my first target zone after a higher volume bar was formed. It was nearly the high of the day.

The fourth trade was a bad one . I have seen that BA was in a strong resistance area and had to go short after
I discovered the top to lately. The wiser play would have been to enter in the test of the actual high of the day.
Even if I missed the trade it would have improved my CRR (chance risk ratio) and that is the most important task. Ok, trade didnt run as expected so I had to close out with a tiny win ( can be considered as Breakeven)

The fith trade was again made in CRM this time I have seen a top forming, when such a top forms during the first half of the day it can be a good idea to go short.
I had the same problem as in BA got in too late, I could have saved a few ticks during the top was building.
Also I closed out with a small win almost Breakeven.

Next one was again in BA this resulted in a loss in my opinion it was just against my rules to enter there.
This was a stupid trade.

The last one: Idea the consolidation line which had downwared directed highs will result in a breakout to the bottom. It did break out and I was able to have a winning trade, however the open of the day acted as support and I closed the trade with a small win.

Summary I have had some problems on friday with my lets call it health.
I have not got enough sleep the day before and after the first CRM trade I felt not so fit.
Therefore, I decided to use a smaller position size expecting a higher error rate on the execution side.
I think that was a good idea. However, getting good sleep will be my major target for the next days.

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #57 (permalink)
 FB2012 
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

One short about the picture, the exact figures of entry and exits can only bee seen when the picture is copied to
a photo or graphic program. However, I will not change the figures making it too cumbersome keeping the journal.

I apologize for the maybe bad quality of pictures displayed in the browser.

Visit my futures io Trade Journal Started this thread Reply With Quote


futures io Trading Community Trading Journals > FB2012 Friday Stock Day Trading Journal


Last Updated on May 4, 2014


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing

NEW BlackBird Features + FOREX Support w/Jeremy Tang @ SharkIndicators

Elite only
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



Copyright © 2021 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