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Eclipsemf's ES Journey
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Eclipsemf's ES Journey

  #61 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/7 Update

Small S&R levels Highs 2012.25 and 2014.25 Low 2008.50

Trade set up number one was right off the start of the morning, short heading down to the last previous low. This was a quick move and I took what I learned from yesterday and set my target just below that so I could make sure I would get the profit and took a quick 1 minute trade and brought in 75$ to start the morning.

9:45 update all 5 3 minute bars printed have all had a range at or over 3 points so I am going to sit back for a little to see what the market does, I dont like trading in this type of volatility with my small stops.

10:00 still in no other trades but expecting the market to go an touch 2018 and then retreat and is happening just as fast as I can type this right now, maybe a short opportunity around 2014 when it closes below? Just a thought

10:30 finally got my short signal way lower than I had thought around 2012 which was another S&R level so that was fine and I took the trade. Before I could even record my thoughts on this trade I had hit my target of 112.50

Overall another good day total profit of $187.50 and 3.18% gain since the start of the week. I used great control today and already put in place some of the things I had learned yesterday, with the first trade. I would have broken even if I had no looked at the levels I had set and adjusted my target accordingly. This was also the first day I took 2 trades when my first trade was a larger than 1pt winner. I usually would have kept the profit and ran but I know I need to take all trades that I get to really maximize this. Thats all for today, Ill be back tomorrow.

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Eclipsemf's ES Journey-jan-7.png  
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  #62 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/8 Update No Trades

To start the morning I am going to sit back because coming out of the pre market I picked up no clear trend so I'm going to wait till it picks a trend and go counter on it. Looking like probably a short after its tests the morning high at 2041 unless the market is looking to rebound from the past few days.

I see the market just wanted to keep running up and I wont take a trend continuation trade from the pre market so I missed out on the first mornings move. Didnt get another signal until 11 but the market moved away from my target to quick to get in so no trades today, will be back tomorrow. Im not going to bother posting a graph because theres not a whole lot on it.

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  #63 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/9 Update Work Shortened


Just a quick post for right now I have to go to my work at 10 to go plowing so I cant really trade much today. I just took a short right at the open when I got my signals. I was looking for the market to try for retest the night high around 2062 then retrace and fill up some of the pull that the market made about and hour ago with the job news. Looks like it would be a good day to trade but thats all I can do for now.


That puts me up almost 4% for the year!! Excellent start to the year but I am being very cautious because I started my last round out very good and then got very sloppy and lost almost all my profit. But I feel SO much calmer when I am trading now Ive been through a lot with in the market since September 15th and I look forward to the rest of the journey!

Ill post my graphs and talk a little bit more when I get back from work.

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  #64 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/12 Update

Pre market expectations, I have the market going up to test 2041.25 and if it cant close above that it will go down to test 2036.50.

To start the morning off the market instantly ran to test my first upper S&R level which it didnt close above and my signals turned over to short. I was initially not going to take that trade either because it was already close to the lower level but I had also 2032.75 as another lower level so I decided to go expecting it to hit there as well. I got in that trade and didnt even have time to adjust my target to try to take a little more profit around that level before it sold off. 112.50$ profit from that trade!

Not sure if I will sit through another trade today or not where the market just slid 20 points, it might get a nice pull back but I dont always take trades right after this big of a move.

10:30 and I am deciding to call it quits for the day will still watch it till 11 but not going to take the trade set up right now I dont like the way its set up and being right after the big move so ill be happy with a 112.50 profit for the day. Even though as I type this with a buy signal present the market is starting to climb back out of the hole.

Not much as far as the graph today the market was down and down a lot about all you need to know!

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Eclipsemf's ES Journey-jan-12.png  
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  #65 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/13 Update

Big Mikes was down for me this morning so I'm not going to post a bunch where I didn't get to type it as the trade was going on. I took a short around 10:20 that I had mixed feelings about due to a thought but not a rule I took the trade anyway, because I was following my rules. I turned out to be a very long trade over 20 Minutes and ended up a loosing trade.


I did pick up 2 things from this trade though. 1 If all of my indicators say go but one is reversing I should be more careful. and if one switches mid trade I should get out. I'm not going to add either of these to my rules set yet because I wanna test them to see if there would be any benefit to this.

On the graph there are two black boxes the larger one is showing where I had entered the trade and you can see the momentum indicator is reversing back to the buy side but is still below the line so it is still a short position. I need to see if I should stay out of this style trade from now on or just keep going with my original rule set.

The smaller black box is from where in the mid trade one of my indicators closed in to a buy signal. Here I want to look in to see if I should get out of the trade right then and there if this comes up. Or maybe just the combination of the 2 is something I should stay away from.

Ill do research later tonight to see what ideas I come up with.

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  #66 (permalink)
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Futures Experience: Intermediate
Platform: Thinkorswim
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Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/14 Update

Just a quick one with not chart to post. I missed out in the first pull right when the morning opened up waited for the short opportunity that I figured would come and did around 10:30, It ended up turning around before I could get any profit out of it so another loss for me. Going to take a break for the day as far as research goes, I feel a little under the weather and I dont think a bunch of screen time will help.

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  #67 (permalink)
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Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/15 Holding Myself Accountable

Took another loss this morning, miss read the swing my mistake. But there is something else I wanna hold myself to using a public journal so im going to post it here. This next part is non trade related so you dont have to read it if you here to see my progress in that.

Most week nights I have been going out to the bars or parties (I am 22) just to kinda have a good time and enjoy myself. I was making money in the stock market and on salary so I was doing really well for working 2 hours a day, kinda let everything get a head of me WAY to fast. Kinda Wolf on wall street deal not as extreme but it was in the makings if I continued this streak.

Then come Tuesday through today all three morning were losses and all three mornings I had come home half hot early in the morning get a few hours of sleep then try to keep myself awake long enough to trade so I can go out again. Last night was the LAST time I am going out on a week night when I am expecting to trade and the last time overall for I'm not sure how long but I just wanna see how long I can go and use this place to help me out with other things. I think going out on the weekends is still fine after I get through my little hiatus and get everything in my life back on track.

And I know there will always be losses in this business but I can 100% say that these three should have been winners if I was paying more attention and wasnt so groggy. I have an excellent opportunity in front of me and I am not about ready to let it pass because Im acting like a child.

Sorry for the life story type post, but I needed to let it out and I am sure many people with in this business probably have gone through some trial and tribulation like this, I just wanna stop and beat it before it turns in to a wasted career.

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  #68 (permalink)
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Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/16 Update/ Week In Review

Another rough morning but this was just to the market conditions, it made me look at a few things and I have a few rule changes to add to my trading plan. I took the trade set up I got right after the 10:00 move. I was a looser because it regressed and the second I entered the trade I knew this.

Rule changes, from the pre market I never trade if there is a trend already in place with some part of my set up. I pretty much wait till it completely reverses the trend. Now if my 10 minute bar is going against what my 3 min trend is saying and then with the market open turns to agree with my 3 minute I will start taking that trade because I am seeing that there are a lot of missed opportunities due to me not taking these.

Second at 10 when the market completely skyrocketed there for a minute I should have stayed out because I knew there was going to be a lot of volatility. I got in towards the low of that bar and had no chance of staying in with small stops. I need to just pay more attention to this going forward.

Week in review.
1 W
4 L
Monday was the only day I was happy with my performance. The three middle days should have been better if I wasnt acting like a child! That should be taken care of going forward. Today was just another lesson that I have to give 80$ to learn, i just hurt a little more with the rest of the week being bad.

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  #69 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/20 Update

No graph again today, just one trade and it was a loss that makes 5 in a row now. The reason for no graph is because I took the morning to test some new rules that I was formulation with those 5 losses that I took and figured it would be more beneficial than a chart post. 6 pages of notes later I came up with this...

I was looking at 8 different things that I feel like could have caused my losses on this streak, I know some are just going to happen but I found 2-3 things that I will be watching to keep me out of bad trades and they are as follows.

I am no longer going to enter a trade is my MACD is over .5 in to a trend and or if my momentum is over 5 in to a trend. This has happened twice this year and both would have been looses.

If I get 6 bars of consolidation (blue on impulse) do not take the trade, also happened twice this year and both losses.

But the big one which would have saved me a lot over time is if I have a current trend from the pre market with my Hull moving averages, Do Not take the trade if that same trend continues in to the live 9:30 or after market. This has happened 8 times to this point in the year with 2 of them being winners and 6 of them being losses. The only thing I might change about this one is if all 4 are trending in the same direction pre market then you can buy in because it has happened twice and both have been very large gains.


I also have 3 other ones I am going to keep looking at and every loss from now on I am going to try to see what could be changed with it and as time goes on I am going to keep up on these new rules to see if they will stand the test of time or if they just work for these current market conditions.

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  #70 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

1/21 Update


Man the tough days just keep coming! another loss this morning that 6 in a row now. I have fixed a lot of things from last week but today I just made a bad fill and quickly go stopped on an excellent move that I should have made money on. It was about 9:36 spike where there was a solid 7 or 8 point profit potential from where I had gotten in but it wanted to do a small pull back and get me out first.

I am going to give it till the end of the week to trade and if I dont take profit I'm going back to paper trading I guess. I know I am incredibly close and dont want to but its part of my rules and that would be 8 days in a row I would be loosing so I clearly would have to change something up if that were the case. It almost makes me sick to think that this might happen and I did exactly what I did in September of last year.

I posted a graph of my equity curve since September 15th of last year, has many great points and even worse drops.

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