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cunparis journal, thoughts, and more
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cunparis journal, thoughts, and more

  #451 (permalink)
Elite Member
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cunparis View Post
Thanks Mahlonhersh, I'm glad you like this thread. Feel free to write about how you trade and show some trades. I never intended this thread to be only about me and I encourage participation.

I also use a 6 tick PNF chart. I use it for my volume ladder chart. I like it a lot. But sounds like we differ there in that you use it for a higher timeframe and I'm using it just for timing entries. For my big picture I'm using 4500/1500/500 tick charts. So I'm curious how you're trading off a 3 tick PNF chart.

Good trading to you too.

Cunparis,

Here are 2 charts of 4 trades I took this morning in the pre-market. I took the first one live and then I took 3 more just like it in sim.

The line is a 90 T3 Average. If price is above, I look for longs - below, I look for shorts. I enter on pullbacks.

Have a good day,

Mahlon

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cunparis journal, thoughts, and more-es-06-10-5_6_2010-pnf-3-ticks-1.jpg   cunparis journal, thoughts, and more-es-06-10-5_6_2010-pnf-3-ticks-2.jpg  
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  #452 (permalink)
Trade with the flow
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And I thought yesterday was crazy!

Simming not going well on FESX so I need to work out some issues there.

For ES.. I took two long swing trades, still hoping for an up close. Scaled out a bit and then stopped out breakeven. And I'm really glad I had the breakeven stop. Without a stop the move down would have wiped me out. I often use mental stops and don't bother to set a hard stop. I think I will not do that any more. A 100 point drop will wipe out an account in no time.

I did all my trading before dinner (US lunch). After dinner took a shower and came back to see the market crashing. It was amazing. The DOM usually has 5k orders on each side. There were pratically no orders on the DOM. I'm talking a total of 81 on the buy side. I've never seen that before.

What was even better is that the market bounced up so fast from 1060 to 1120. I can't imagine how many traders got stopped out on the way down and are now kicking themselves. But at least they didn't get wiped out. And some traders made millions today on the short side and others made millions on the long side. I'm wondering who lost the money for them to make it?

I didn't take any real money scalp trades on ES but I did take 2 on sim and finished -3 ticks.

So overall a good day for me and I'm glad I was done by the US lunch break.

I hope you all did ok.

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  #453 (permalink)
Trade with the flow
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Last Saturday I wrote:


cunparis View Post
Next, the dumb money didn't buy into the recent highs. If they're all in then there is no one else left.
...

Next, on the cycle charts. The moment I've been waiting for. A monthly cyclical turn which could cap the current rally. These turns often overshoot, especially when there is a lot of directional strength, so the top could be several months a way (each bar is a month after all). But it means we should be looking for signs of a top.

...

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I must say the sine wave on the monthly chart called the top perfectly. I'm truly amazed at how powerful this indicator is..

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  #454 (permalink)
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cunparis View Post
Last Saturday I wrote:



I must say the sine wave on the monthly chart called the top perfectly. I'm truly amazed at how powerful this indicator is..

I was thinking about that same quote today. Right on CP! great call.

Ben said there were no bids on the way down.

 
  #455 (permalink)
Trade with the flow
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chipotlebop View Post
I was thinking about that same quote today. Right on CP! great call.

Ben said there were no bids on the way down.

I was expecting the area around 56 to hold but when buyers came in they were aggressive enough to push it higher than 64. And I kept getting stopped out breakeven. But I'm really surprised that sellers were aggressive in the 50's. They could have easily waited and sold around 1180 or higher.

I would have loved to have heard Ben's commentary as it unfolded. Maybe someone made a recording of it somewhere.

 
  #456 (permalink)
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cunparis View Post
I was expecting the area around 56 to hold but when buyers came in they were aggressive enough to push it higher than 64. And I kept getting stopped out breakeven. But I'm really surprised that sellers were aggressive in the 50's. They could have easily waited and sold around 1180 or higher.

I would have loved to have heard Ben's commentary as it unfolded. Maybe someone made a recording of it somewhere.

I think it was a historic day for most of us including Ben. There was mention from Ben that the pit was wild long before prices tumbled. By the sound of it, there were traders who probably lost there careers in one trading session. Your prior post about mental stops. Keep price stops in place, you can get back in if still valid. They are your protection for the one day the market decides to take your career away from you. Tom Alexander likes to say "its better to be out wishing you were in, than being in and wishing you were out."

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  #457 (permalink)
Trade with the flow
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I made videos of four real time trades (+10 +1 + 2 +3) taken on the euro stoxx this morning. I also added RSS feeds and an email subscription for the blog.

Four realtime trades on the Euro Stoxx 50

I don't think I'm going to trade real money this afternoon. I'm already up $1930 this week and I don't want to risk being depressed over the weekend. I will trade on sim just for fun. The markets are very volatile this morning so I expect that to continue. Be careful and good luck with your trading.

 
  #458 (permalink)
Trade with the flow
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Well my first week trading real money on the ES scalping and it was also a first for something else: Normally my swing trades I enter and hold for 1-3 days. This week I took a lot of trades intending to swing them and I didn't hold any more than an hour or two. That should have been a warning sign when my longs were stopping out breakeven but earlier in the week I didn't know what would eventually come.

As market volatility was gradually increasing I was getting more picky with my trades. I'm surprised to find out that I only traded 4 scalp trades this week. A lot of that was because I was focused more on swing trades and managing them.

So this week was a big success. $1930 in profits, all of which was in 4 days since i didn't trade on Friday. No losers, which is a first for me.

I'm attaching the stats & trades.

I'll continue monitoring my performance to make sure it stays about PF 2.0.

I got 3 items I want to work on:

- I want to trade more with the trend rather than counter trend. I guess I am a "countertrend" trader after all. So I'm going to pay particular attention to this. I was successful trading the long side this week but I think I could have a lot better on the short side.

- I want to capture more of the moves. +4 & +8 ticks is good for a quick scalp but I'd like to add a 3rd contract to capture the bigger moves. I'm not sure if I'll go to sim for this or not. Tough decision. Usually I go back to sim on any changes, at least for a day or two.

- Work on combining swing & scalp trades. For swing trades I don't use the ladder so it's hard to combine them. I'm brainstorming on this.

I'll post the longer term charts on my blog this weekend. We're getting a bullish sine cross on the daily timeframe which, like the monthly sine cross, should prove to be very timely. Could even catch the "bottom". Turning point oscillator gave a signal yesterday too. Things are looking bullish..

Have a great weekend.

Attached Thumbnails
cunparis journal, thoughts, and more-week-day-trades-pl.png   cunparis journal, thoughts, and more-week-swing-trades-pl.png   cunparis journal, thoughts, and more-week-swing-trade-list.png   cunparis journal, thoughts, and more-week-tradelog-real.png  
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  #459 (permalink)
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cunparis View Post
And I thought yesterday was crazy!

Simming not going well on FESX so I need to work out some issues there.

For ES.. I took two long swing trades, still hoping for an up close. Scaled out a bit and then stopped out breakeven. And I'm really glad I had the breakeven stop. Without a stop the move down would have wiped me out. I often use mental stops and don't bother to set a hard stop. I think I will not do that any more. A 100 point drop will wipe out an account in no time.

Cunparis,

My journey of learning to trade the e-minis started with an expensive program that I bought. After the study materials were completed, I sat in on their live trading room for several months. Today I look at the things they were teaching and consider them quite worthless compared to the great resources available here on futures.io (formerly BMT). But there is one Golden Rule of Trading that they drilled into us - Never trade without a stop and Never move a stop out. I am very grateful that I learned that early on and it has become a consistent habit of my trading.

I am glad that you were OK. It is very likely that some traders got wiped out yesterday.

Have a good weekend,

Mahlon

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  #460 (permalink)
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cunparis View Post

- Work on combining swing & scalp trades. For swing trades I don't use the ladder so it's hard to combine them. I'm brainstorming on this.

What if u leave your third contract as a SWING trade IF and WHEN u enter a trade on a Key Price Point and direction of the higher timeframe ?

Let's say you believe the sell off is not over, u define where resistance of the next bounce may be and when price get there AND u have a qualified SHORT setup u leave a third contract for more days.....

GT
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