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The Logical Trading Journal


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The Logical Trading Journal

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  #161 (permalink)
Lagos, Ikeja. Nigeria
 
 
Posts: 55 since Apr 2012
Thanks: 13 given, 62 received


LogicalTrader View Post
The Failed A up went through the pivot, which is a pretty strong move and establishes a strong short bias. I am short on the pullback from 97.98. Holding for WORL or ADR limits.

Just exited at 97.66 exactly. Done for the day.


Wow what a journey and jornal. Its interesting to see you make the same set of mistakes till after some encouragement you started to adjust. Enjoyed going through your jornal, as it gave me an idea of how to do mine when I start full time trading hopefully by January. Like the visible marked improvements in your trading/psycology, keep it up and hope u keep getting successful

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  #162 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
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6 days in the LTP so far. I was unprepared the first 3 days and seeing how I traded, I took a hard look at what I was doing. Took a break for over a month before resuming. During that month, I back tested until my eyes were red every night and I programmed every thing I knew about ACD that meant something to my trading.

When the preparation was complete, I resumed trading the LTP account this past Monday after a break of 33 days. The first 3 trading days in the LTP account in Nov, I lost $1115. The next 3 days since Monday, I have almost made it all up.

Want to remind myself that as it is with everything in life, just having an opportunity means nothing if you are not prepared.

I have 4 more days to go and about $900 still to make to qualify for funding. But whether or not I get funded in this LTP, I feel confident I can trade live now - no doubts whatsoever.


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  #163 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
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It is a failed A up but we are still above pivots so my bias is long. Stopped out on one attempt. Long again from 97.89. This is the last trade of the day if stopped out which would mean I read it wrong and should have gone short with the failed A up.

EDIT: Chart says failed A down but its a failed A up.

EDIT: Done for the day. Got it wrong today. It is never too good to be true. I got to believe in it. 4 consecutive days it was a failed A up and I executed on it right on 3 days. I thought it is too good to be true to have 4 in a row.


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  #164 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
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I am done for the day in the LTP account but I have to trade as if I were trading live. So long because of failed A down from 97.70 in the regular combine account.

EDIT: 45 minutes in the trade and I am protecting it now. If it had to go, it would have but keeps failing below WORH and 3D Pivot high. It has to he a heavy push through those levels for this long to work and the more time it just stays here, the less likely it is to work. Stop to entry and that will be it for the day for me.

EDIT: Out at entry. Didnt work out. Now done for the day. No more trades in either account today.


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  #165 (permalink)
BOSTON, MA
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: commodities, TF
 
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LogicalTrader View Post
It is a failed A up but we are still above pivots so my bias is long. Stopped out on one attempt. Long again from 97.89. This is the last trade of the day if stopped out which would mean I read it wrong and should have gone short with the failed A up.

EDIT: Chart says failed A down but its a failed A up.

EDIT: Done for the day. Got it wrong today. It is never too good to be true. I got to believe in it. 4 consecutive days it was a failed A up and I executed on it right on 3 days. I thought it is too good to be true to have 4 in a row.



You taking Mark Fisher words literally when price goes through daily pivot and pivot range. Think it this way-

When something is expected then it needs to follow through. Just going through pivot and just sitting above it

is failed A up through pivot.


What did not happen is more important than what happened- James Dalton.

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  #166 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
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mfbreakout View Post
You taking Mark Fisher words literally when price goes through daily pivot and pivot range. Think it this way-

When something is expected then it needs to follow through. Just going through pivot and just sitting above it

is failed A up through pivot.


What did not happen is more important than what happened- James Dalton.

Thanks. You are 100% right on the mark. I have been trying to not take the theory literally. I am now long because of a failed A down of both the OR and the DP now.

Thanks for your support.

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  #167 (permalink)
Germany
 
Experience: Advanced
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Posts: 396 since Jan 2013
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Good job on re-entering in long.

One more key difference between successful traders and other traders.

*thumps up*

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  #168 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
Thanks: 1,420 given, 757 received

2 losses today in the LTP account. Not what I was hoping for but it is part of the learning process.

There is no use of doing hindsight analysis. The failed A up was the trade of the day and I didnt know it at that time. The decision to go long at the time seemed to be the logical one.

I am in 2 minds about one aspect of my current plan. During the 2nd long, I saw very strong evidence of a short from WORH. Price was about 2-3 ticks above my entry long and I really wanted to reverse because I was well aware of the failed A up even when I took the long. It is very evident in the 1 min chart I posted. 3 consecutive bars had a red dot over them which meant a whole lot of buy orders were being absorbed (this is a time chart which meant that for 3 minutes the buy orders were above average and price didnt budge). But I took my hands off the mouse in order to stay true to the plan when in my heart I knew I was going to get stopped out.

Then during the long from 97.70, price went 19 ticks in favor twice and I could see evidence of a short again from WORH area. This time I moved my stop to entry but didnt go short. Both of those shorts would have worked very well. If this was a one time occurrence, I would be foolish to even consider this but this is not the first time this has happened. I have given up so many 15-20 tick trades in order to stay true to the plan.

I am unsure if I should change anything with only 3 days remaining in the LTP. Part of me says, no changes. If not this LTP, I will get it in the next. The other part of me says that there is still a decent chance of getting funded and maybe I should adjust my plan slightly for the next 3 trading sessions.

Bottom line is that i need to make about 120 ticks in the next 3 sessions trading 1 contract. Should I open up the plan a little bit and take more risk or stay on course with current plan? Will decide on this in the next 6 hours.


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  #169 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
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LogicalTrader View Post
Should I open up the plan a little bit and take more risk or stay on course with current plan? Will decide on this in the next 6 hours.

Took less than 6 minutes to decide. Had I taken the failed A up short, I wouldn't be thinking about this so no changes to the plan. Going to stick with it and do what needs to be done.

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  #170 (permalink)
Houston, TX
 
 
Posts: 294 since Aug 2013
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I am liking Brent more each day I look at it. The moves are predictable as WTI and true to ACD/MFB method.

Yesterday


Today

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