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Trading Journal - Reversal Bars


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Updated February 2nd 2015 by lsubeano
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Trading Journal - Reversal Bars

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  #51 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
tradethetick's Avatar
 
Posts: 416 since Oct 2011
Thanks: 42 given, 373 received

Trade:
Contract: Gold
Entry signal: Reversal Bar Short
Entry price: 1302.5 (red)
Exit price: 1300.2 (green) Target
Entry time: 6:15 A.M. (Pacific Time)
Profit/Loss: +23 ticks (per 1 lot)



Trade Results: 19 Trades. 12 Wins / 7 Losses. Ratio: 63.16%. MTD: +115 ticks (per 1 lot) YTD: +123 ticks (per 1 lot)

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  #52 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
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Posts: 416 since Oct 2011
Thanks: 42 given, 373 received

No setups today

Trade Results: 19 Trades. 12 Wins / 7 Losses. Ratio: 63.16%. MTD: +115 ticks (per 1 lot) YTD: +123 ticks (per 1 lot)

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  #53 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
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Posts: 416 since Oct 2011
Thanks: 42 given, 373 received


No setups today. FOMC later in the day makes for chop in the morning.

Trade Results: 19 Trades. 12 Wins / 7 Losses. Ratio: 63.16%. MTD: +115 ticks (per 1 lot) YTD: +123 ticks (per 1 lot)

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  #54 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
tradethetick's Avatar
 
Posts: 416 since Oct 2011
Thanks: 42 given, 373 received

Trade:
Contract: Crude Oil
Entry signal: Reversal Bar Short
Entry price: 99.26 (red)
Exit price: 99.07 (green) Target
Entry time: 6:52 A.M. (Pacific Time)
Profit/Loss: +19 ticks (per 1 lot)



Trade Results: 20 Trades. 13 Wins / 7 Losses. Ratio: 65.0%. MTD: +19 ticks (per 1 lot) YTD: +142 ticks (per 1 lot)

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  #55 (permalink)
Lagos, Nigeria
 
Experience: Intermediate
Platform: NinjaTrader, SierraChart
Trading: Euro Currency & Oil
 
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Posts: 2,479 since Jun 2009
Thanks: 1,020 given, 1,651 received


tradethetick View Post
Trade:
Contract: Crude Oil
Entry signal: Reversal Bar Short
Entry price: 99.26 (red)
Exit price: 99.07 (green) Target
Entry time: 6:52 A.M. (Pacific Time)
Profit/Loss: +19 ticks (per 1 lot)



Trade Results: 20 Trades. 13 Wins / 7 Losses. Ratio: 65.0%. MTD: +19 ticks (per 1 lot) YTD: +142 ticks (per 1 lot)

@tradethetick,

Could you please give a pictorial description/definition of your REVERSAL BAR ? I don't seem to understand your description in your earlier posts.

Lolu

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  #56 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
tradethetick's Avatar
 
Posts: 416 since Oct 2011
Thanks: 42 given, 373 received

Trade:
Contract: Crude Oil
Entry signal: Reversal Bar Long
Entry price: 99.52 (green)
Exit price: 99.36 (red) Stop
Entry time: 6:45 A.M. (Pacific Time)
Profit/Loss: -16 ticks (per 1 lot)



Trade Results: 21 Trades. 13 Wins / 8 Losses. Ratio: 61.90%. MTD: +3 ticks (per 1 lot) YTD: +126 ticks (per 1 lot)

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  #57 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
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Posts: 416 since Oct 2011
Thanks: 42 given, 373 received


lolu View Post
@tradethetick,

Could you please give a pictorial description/definition of your REVERSAL BAR ? I don't seem to understand your description in your earlier posts.

Lolu

Lolu,

Here is a picture with an explanation for a classic reversal bar. A slight variation is the inside bar. An Bullish Inside Bar does not make a lower low but closes higher than it opened and opposite the direction of the immediate trend. A Bearish Inside Bar does not make a higher high but closes lower than it opened and opposite the direction of the immediate trend.



Hope that helps.

Tony

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  #58 (permalink)
Lagos, Nigeria
 
Experience: Intermediate
Platform: NinjaTrader, SierraChart
Trading: Euro Currency & Oil
 
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Posts: 2,479 since Jun 2009
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tradethetick View Post
Lolu,

Here is a picture with an explanation for a classic reversal bar. A slight variation is the inside bar. An Bullish Inside Bar does not make a lower low but closes higher than it opened and opposite the direction of the immediate trend. A Bearish Inside Bar does not make a higher high but closes lower than it opened and opposite the direction of the immediate trend.



Hope that helps.

Tony

@tradethetick,

Thanks, once again. I now fully understand your Reversal concept. I'll test it out next week.

1. What is your method of trade entry ? Do you enter your trade manually/using your discretion ? Do you exit manually too ?

2. Could you please give more details on your targets and exits. You earlier mentioned that "the targets are based on ATR and use market structure to exit".

Lolu

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  #59 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
tradethetick's Avatar
 
Posts: 416 since Oct 2011
Thanks: 42 given, 373 received


lolu View Post
@tradethetick,

Thanks, once again. I now fully understand your Reversal concept. I'll test it out next week.

1. What is your method of trade entry ? Do you enter your trade manually/using your discretion ? Do you exit manually too ?

2. Could you please give more details on your targets and exits. You earlier mentioned that "the targets are based on ATR and use market structure to exit".

Lolu

1. I trade manually by placing a resting order in the market at either the top / bottom of the reversal bar. My exits are predetermined by price structure. There is some discretion used, such as avoiding fading strong trends, but mostly it is automatic.

2. My targets and stops are based on market structure. Stops are set beyond market structure and targets are set just before market structure. ATR is used to determine the timeframe which gives the market structure for targets and stops.

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  #60 (permalink)
Irvine, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Adv/TT
Trading: CL, GC, TF
 
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Posts: 416 since Oct 2011
Thanks: 42 given, 373 received


Some observations:

I would like to see better overall results in ticks per month. Seems like it averages about +30 ticks per month which, in my opinion, is average. (Or maybe it's not.) Hard to make full time income on +30 ticks per month.

In addition, I would like to see more setups (which may improve the number of ticks per month).

Thoughts? Suggestions?

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February 2, 2015


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