No Guru, No Method...A Trading Journal - Trading Journals | futures io social day trading
futures io futures trading


No Guru, No Method...A Trading Journal
Updated: Views / Replies:595 / 8
Created: by christo64 Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 
Thread Tools Search this Thread
 

No Guru, No Method...A Trading Journal

  #1 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

No Guru, No Method...A Trading Journal

Ok, just thought it would be healthy for me to share my trading performance, what went into my decision making at the time, and of course, the outcome. Like many here, I have tried a multitude of systems and indicators over the course of 10 years in futures trading. My thread title is derived from Van Morrison's brilliant tune about his own personal spiritual journey, and I have found myself thinking these very thoughts when I peruse futures.io (formerly BMT) or other sources. Useful as futures.io (formerly BMT) is, I think we can all agree there is definitely a shortcut mentality among futures traders. Indeed, I was one of them. A couple of years ago I just threw it all away. The indicators, the garbage, everything. The only indicators on my NT chart are RSI, Swing, and Pivots. The best indicators I have are common sense and experience.

I'm not an expert. Never will be. If there are any I can't seem to import their experience and tendencies and make them my own. Maybe some people can do that, but I know I can't. So this is more about what I can do, which is all about making very simple inferences about the market and acting on them. We'll see where it takes me.

About my approach: I act on the 5 minute chart (ES, TF, NQ), and will also look at the cash chart as well. Prior to trading, I consider the daily cash charts- mostly to confirm trend and to see if there any trend lines I should be aware of on cash. In general, if we're above the pivot on ES, I want to look for longs at support, a pivot, or prior resistance. Vice versa below the pivot. The cash chart is really there to let me know where potential s/r may be once I am in a trade. I generally only trade during U.S. cash market.


Last edited by christo64; May 20th, 2013 at 08:48 AM.
Reply With Quote
The following 8 users say Thank You to christo64 for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

this morning


Went long NQ at 6:45 AM. Bullish divergence on RSI as price hit the pivot at 3019 and began to bounce off. Stop is manageable 2 ticks below swing support at 3018. Target is swing resistance at 3025. I generally don't trade NQ premarket but the risk is quite low for this trade.



**Stopped out for 6 tick loss at 17.50. Was worth a shot.


Last edited by christo64; May 20th, 2013 at 09:21 AM.
Reply With Quote
 
  #4 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

Today

My small loss on the NQ notwithstanding, my view on the day is that the market is in a parabola. It's possible that today (or some other day this week), the market will reverse, possibly severely. The daily market trend does matter- it affects trader psychology. When you are in a strong uptrend, the pivot is more likely to hold, obviously. This uptrend is long in the tooth by anyone's measurement. Just want to give myself a mental break and acknowledge that we could see a trend change in the near future, and that could mess with a few trades. I control the risk so this is the market's problem, not a trading problem.

Reply With Quote
 
  #5 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

Observing the market holding at ES pivot, but the price is below recent support. Maybe we bounce from here, but I can't buy the market below swing support.

Reply With Quote
 
  #6 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

ES did find support at pivot, but risk/reward wasn't there, for me at least. Cash is up .40 as we speak- hardly a barn burner.

Reply With Quote
 
  #7 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

ES still holding above the pivot into the close. No trades other than the failed NQ trade prior to the open. Rear view, armchair QBing- I missed the ES long, really should have used swing support as my stop.

Reply With Quote
 
  #8 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

may 21

went short es at 65.75. Price moved into pivot and resistance, crept over it, then triggered sell on RSI. stop at 67, target 61.50.

** stopped for 5 ticks


Last edited by christo64; May 21st, 2013 at 10:26 AM.
Reply With Quote
 
  #9 (permalink)
Membership Temporarily Revoked
Atlanta
 
Futures Experience: Advanced
Platform: NT7
Favorite Futures: GC,ES,CL,6E
 
Posts: 29 since Jan 2011
Thanks: 4 given, 9 received

shorting at 65.75 again. stop at 70, target at 60

Reply With Quote

Reply



futures io > > > No Guru, No Method...A Trading Journal

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gold Should Be ‘Owned by Everyone’: Hedge Fund Guru Quick Summary News and Current Events 0 September 21st, 2012 02:00 PM
MADLYFE'S MAYHEM IN IOWA JOURNAL(perrys method reloaded) madLyfe Elite Trading Journals 27 December 13th, 2011 07:16 PM
Simple method journaL to get you from demo to live trading cw30000 Trading Journals 2 February 28th, 2011 04:14 PM
Trading Guru's Michael.H The Elite Circle 51 October 2nd, 2010 04:30 PM
AR01 Price Area Journal (Not a trading journal) AR01 Emini Index Futures Trading 69 April 2nd, 2010 09:01 PM


All times are GMT -4. The time now is 08:35 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, 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
Page generated 2017-12-16 in 0.11 seconds with 19 queries on phoenix via your IP 54.160.245.121