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cunparis journal, thoughts, and more

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  #601 (permalink)
 gabga100 
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Hey ,

Was this on sim or for real ? Why Gold ? never traded that , how volatile is it ?

ES, 6E or CL ?

Thank you for resuming your post , I really look forward to read you .....

You know what you know but you do not know what you do not know.
You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.

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  #602 (permalink)
 cunparis 
Paris, France
 
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gabga100 View Post
Hey ,

Was this on sim or for real ? Why Gold ? never traded that , how volatile is it ?

ES, 6E or CL ?

Thank you for resuming your post , I really look forward to read you .....

After having almost blown up my account, I'm now very cautious. For any new daytrading idea or any significant modification of an existing idea, I test it on sim. ES can be an exception because I know that market very well. I believe that it is not easy to be profitable, even on sim, and that one should not trade real money until there is a track record on sim. Others disagree with this but this rule has kept my day trading positive this year simply by letting me learn on sim.

So the Gold is sim. Why Gold? My idea is this: The sine wave stuff is pretty complicated. I can do it for ES but it's a lot of thinking and it makes me tired. So i'd like to simplify things so that I can trade a few other markets. I am not wanting to change how I trade ES, that's working fine for me. My idea is to trade other markets when ES doesn't have a good setup. I'm very selective on my ES trades. Yesterday I only took one real money trade and made 1 pt. Some days I don't take any.

So why Gold? Because Gold can be traded during both european session & US session. The same is true of Euro. So I can trade both all day and not have to change. Also gold seems to be a good match for what I'm doing. The downside to gold is that it can move 10 ticks in 1 second which makes it extremely volatile. I try to use that to my advantage.

Yesterday I did $250 on Euro (also on sim). I want to finish the week on sim because I'm fine-tuning it and then if results are positive, go live on Monday. if I'm not sure I can wait another week. I've become very patient and not really in a hurry to get off sim. Successful sim trading builds confidence which is key.

So my plan is to trade Gold & Euro all day. FESX (or DAX) & Euro Bund in the morning, and CL & ES in the afternoon.

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  #603 (permalink)
 cunparis 
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Perf of all US markets.


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  #604 (permalink)
 cunparis 
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Still practicing but results are getting more consistent.

YouTube - 20100616 Scalping the Crude Inventory News

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  #605 (permalink)
 cunparis 
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I'm using Twitter to Tweet important developments during the trading day, such as trade setups and analysis, and key S/R levels. If you use twitter you can follow me.

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There is a bearish sine cross today on ES. The move down should is underway. Finally.

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  #606 (permalink)
 gabga100 
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cunparis View Post
I'm using Twitter to Tweet important developments during the trading day, such as trade setups and analysis, and key S/R levels. If you use twitter you can follow me.

Michael (cunparis) on Twitter

There is a bearish sine cross today on ES. The move down should is underway. Finally.


More an inside day with final relative thrust upwards ..... next days should moove much more .....and the relative strong close tonight does not necessary preditcs declines the next days , actually quite the opposite .... unless something happens in Europe, it will probably gap up .....

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  #607 (permalink)
 cunparis 
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gabga100 View Post
More an inside day with final relative thrust upwards ..... next days should moove much more .....and the relative strong close tonight does not necessary preditcs declines the next days , actually quite the opposite .... unless something happens in Europe, it will probably gap up .....

I disagree. There was heavy professional selling into the close:



You can see my complete analysis here:

YouTube - 20100617 ES Update

Had my best day on ES ever:




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  #608 (permalink)
 gabga100 
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Your chart goes till 20.40 which is 14 40 here and the biggest move up was in the last 15 minutes or so ........can you post the last hour ?


Did you trade this on sim or for real ?

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  #609 (permalink)
 cunparis 
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gabga100 View Post
Your chart goes till 20.40 which is 14 40 here and the biggest move up was in the last 15 minutes or so ........can you post the last hour ?


Did you trade this on sim or for real ?

I didn't take any trades the last hour. I was unsure of what would happen. I saw buying but not evidence it was professional buying so I just stayed out. As a general rule I don't trade in the last 30 minutes. Here's the chart:



Usually I take one real money trade per day but yesterday I did not take any. I'm not sure why, it's a very good question. There was one where I almost did and then had a doubt and took it on sim. I forget which ones so I don't remember the outcome. Since the crash I've been working mostly on sim because of the volatility and to profit from some sim time to tweak my trading plan.

Prior to the crash I wasn't using stops, if I was wrong I'd get out on a pullback at breakeven or with a small loss (trade #8 is an example of that). Since the crash, we've had a lot of trend days so doing that is dangerous. I've been tweaking my trading plan and one of the items I've worked on is finding the right stop and getting to no risk quicker. In trade number 8 I had a stop but I realized that my entry was in error, I determined the correct entry and then put the stop where it'd be with a correct entry. So that's a compromise between no stop and tight stop. I find I'm often early and that's another thing I'm working on.

I'm quite happy with the results so far. I think Monday I'll go 100% real.

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  #610 (permalink)
 rassi 
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Well spotted re the trend days and stops, no stops is suicide in the current climate.

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