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The Logical Trading Journal
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The Logical Trading Journal

  #211 (permalink)
Trading for Profit
Houston, TX
 
Futures Experience: Intermediate
Platform: TradeStation
Broker/Data: TradeStation
Favorite Futures: CL
 
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Posts: 294 since Aug 2013
Thanks: 1,420 given, 752 received

One and done

Cannot thank the traders at futures.io (formerly BMT) enough - especially MFB and traders that contribute on his thread. All those gold nuggets that are available here are for anyone to pick up.

2K bar on 1 min chart got me short at 93.27 for a failed A up. I was aware that pit open can be unpredictable so got out a bit early at 92.84 than my planned targets at developing OR low at 92.58 (which just got hit) or Euro OR high at 92.73. Regardless, happy with 43 ticks and done for the day.

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  #212 (permalink)
Trading for Profit
Houston, TX
 
Futures Experience: Intermediate
Platform: TradeStation
Broker/Data: TradeStation
Favorite Futures: CL
 
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Posts: 294 since Aug 2013
Thanks: 1,420 given, 752 received

Halftime Combine Analysis

5 days gone and 5 more days to go in the new CL combine that started Monday. A little less than half way from the profit target. I know I have been sandbagging. Next week, I will push the pedal a bit harder - hit my marks a bit better.

For some reason, its different this time. Stress levels are lower. Somehow I know I have made it past the normal hurdles. Going back through the last 5 days, on most days, I have taken profits early - its part of the plan so not complaining. Its just that I know the p&l could have been 20-30% more than what it has been which is what I will go for next week. Put in 2 days in the ES combine and have to tweak the execution a bit but its the same recipe no matter what market it is - they all need the 3 Ps - patience, patience and more patience.

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  #213 (permalink)
Trading for Profit
Houston, TX
 
Futures Experience: Intermediate
Platform: TradeStation
Broker/Data: TradeStation
Favorite Futures: CL
 
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Posts: 294 since Aug 2013
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Failed A down long


Got the failed A down. So many things lined up that it was impossible to miss this one. Couldnt have setup better. I didnt want to push it so got out at the first logical target. I may not be done today. Plan is to keep an opportunistic eye out. There might be more opportunities today.

EDIT: 10:20 AM: Done for the day. GSCI is probably still rolling over today being its last day and there is very little edge now (for me). So back tomorrow.

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Last edited by LogicalTrader; January 13th, 2014 at 12:24 PM.
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  #214 (permalink)
Trading for Profit
Houston, TX
 
Futures Experience: Intermediate
Platform: TradeStation
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Posts: 294 since Aug 2013
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Execution error today

Read it correctly today but failed to execute properly. The read this AM was long. As price pulled back to euro OR high, it was confirmed. Got long at 92.18 and sat in it for 10 minutes watching the back and forth. Then decided to scratch it and not even a few seconds later, it took off. Just one of those days when you deviate from your focus a little bit. Thinking is not allowed and yet we think and make up these scenarios that the market could possibly be looking to do. Stuff happens, got to move on. Will keep an opportunistic eye out but not going to force anything.

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  #215 (permalink)
Trading for Profit
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End of Journal

The purpose of a trading journal is to log all trades, market conditions, thought process in relation to one's trading plan. If one cannot be true to his journal, the journal loses its meaning.

I have found myself not being honest to my journal over here at futures.io (formerly BMT). There are various reasons but whatever they are, I dont think I can overcome them and maintain a public journal.

Initially I benefited a lot from writing here every day and I am thankful for that. But it is time I end my journal here and maintain it privately where I can be completely honest about every decision I make on a trade by trade basis. So this is the end of The Logical Trading Journal at futures.io (formerly BMT). Going forward, I am maintaining my journal in a private blog.

For anyone interested, I was not able to clear the combine profit target for CL. ES combine still has a few days to go but that also looks to be going the same way. I will most likely roll them both forward and keep trying until I get funded. Its only a matter of time. That much I know.

When I have anything meaningful to contribute, I will post in @mfbreakout's thread. Until then, wish you all good luck and profitable trading.

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  #216 (permalink)
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Toronto
 
Futures Experience: Beginner
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Favorite Futures: ES
 
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Number Line

HI Logical Trader,

I was wondering if you use the number line? I find it really useful.

Do you include those small holidays where the market closes at 13h00?

or just the regular trading days?

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  #217 (permalink)
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Futures Experience: None
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Favorite Futures: ES, EUR/USD
 
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I'm sorry I missed following your journal until it was too late. I'm guessing the dots on your charts are indicating a divergence of the histogram (cumulative delta?) at the bottom? Either way I wish you all the best.

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  #218 (permalink)
Trading for Profit
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Futures Experience: Intermediate
Platform: TradeStation
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Posts: 294 since Aug 2013
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budfox View Post
HI Logical Trader,

I was wondering if you use the number line? I find it really useful.

Do you include those small holidays where the market closes at 13h00?

or just the regular trading days?

Not yet budfox. The number line is the hardest to program I have found. I am working on it but what I have so far works so the number line is a bit on the back burner. But it is a beautiful concept and keeps you on the right side of the market so if you have found a way, then good for you.

The book does not specifically mention (I dont recall at least) what to do regarding the number line for half trading days but it does take into account any trading day for the plus/minus days concept in the 30 day trading cycle so if I were to consider it in my plan, then I would take into account the number for days like tomorrow.

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  #219 (permalink)
Trading for Profit
Houston, TX
 
Futures Experience: Intermediate
Platform: TradeStation
Broker/Data: TradeStation
Favorite Futures: CL
 
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Posts: 294 since Aug 2013
Thanks: 1,420 given, 752 received


deltason View Post
I'm sorry I missed following your journal until it was too late. I'm guessing the dots on your charts are indicating a divergence of the histogram (cumulative delta?) at the bottom? Either way I wish you all the best.

Thanks deltason.

The dots were just an experiment. I dont even look at them now. You can probably see how they have changed from being a cluster to being single dots to lately being accompanied with smaller dots. But you are right, they were supposed to show divergence in cumulative delta.

I tried to use it as confirmation for my trades but it has hurt more than helped. I have since found volume (plain old volume) to be a better confirmation thanks to MFB and Balanar. I pay attention to any high volume 1 minute bar at ACD levels and what price does immediately after that bar. Sometimes high volume results in a further move (breakout) or it results in a retrace but price action following high volume bars is easier to read. Delta, on the other hand, isnt so helpful because you can never tell how much is enough. See image below for example of PA on 01/17, I paint the bars a different color when higher than usual volume shows up and then see what price does after those bars.

Also, all this is still just theory at this time and means nothing unless used profitably in a consistent manner. When I get funded and am trading consistently well, I will post here what works best as a confirmation tool. Thanks.

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  #220 (permalink)
Membership Temporarily Revoked
Toronto
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: MB
Favorite Futures: ES
 
Posts: 313 since Jun 2013
Thanks: 182 given, 58 received


I found the plus/minus days don't really work out properly (unless I did not, program the Number Line correctly).

Its not hard....I just plot it in excel.

Did you get funded yet?



LogicalTrader View Post
Not yet budfox. The number line is the hardest to program I have found. I am working on it but what I have so far works so the number line is a bit on the back burner. But it is a beautiful concept and keeps you on the right side of the market so if you have found a way, then good for you.

The book does not specifically mention (I dont recall at least) what to do regarding the number line for half trading days but it does take into account any trading day for the plus/minus days concept in the 30 day trading cycle so if I were to consider it in my plan, then I would take into account the number for days like tomorrow.


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