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dctrade69 Daily Context Journal
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dctrade69 Daily Context Journal

  #41 (permalink)
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Robroyrogers View Post
Today I learned several hard lessons. 1) Don't breakaway from your rules. 2) Be very careful on Wednesdays.

All sim trades (which I treat very seriously BTW, I will not go live until I can prove myself in Sim)

Trade 1 My intent was to take a short off the rejection of Globex Hi. My DOM was not set up properly so I had to take the time to reset my stop/limit in my DOM. By the time I got set up the trade had run quite a ways and I entered very late. Price turned right around and hit my 40 tic hard stop. Had I entered correctly it would have been a winner. I have my stop/limit locked in correctly now thanks to Silver99. Execution error for -40 tics

Trade 2 this one baffled me a bit. I got short at 3492.25 on a rejection of globex low. Price ran straight down to VAH with some force. I waited for it to clear VAH and it turned against me. I'm not quite sure what I could have done differently since I was watching the 1m for a volume spike at VAH and never saw it. I guess I was daydreaming as MFB would say. -36 tics

My rules say to quit after 2 losers and I ignored them and went into chase mode after this point. That was my worst mistake of the day

Trade 3 Price moved upward with force on the 9:20 5m bar. once the 5m cleared Y'day hi I went long looking for ORH. Price immediately turned down and I exited at ORL for -33 tics

Trade 4 Back to the woodshed! I went long at 11:10 when price had traveled all the way up from VAH to globex hi. I tried to get on board at the end of the line. I held this trade waaay to long daydreaming and eventually got out for -35 tics.

I realize nobody on this thread wants to see my crappy trades today but I need to post it hoping the humiliation will teach me a lesson. Any comments, chastisements, encouragement, teasing, etc.... are welcome.

RRR

Hi RRR,

it is good to see that you are trading sim.

Two "mistakes" that I instantly see in your chart. Actually I do not like talking of mistakes because there is no right or wrong so use them as advices.

First, I see that you have anabettervolume in your chart but you do not USE it.

Second, you are buying highs and selling lows.

Just think about it...

Have a great weekend.

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  #42 (permalink)
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1 trade worth mentioning.Opened on ym intrarange/intra value just above
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  #43 (permalink)
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Monday CL trade #1


Just a little context on me first...

ACD and MP strike me as achievable and realistic methods for trading futures. I have devoured (and continue to) the available books and materials on the subjects along with the posts of the veteran members on these two threads (this and Trading Futures with Context). I have put these concepts into practice with CL both in SIM and live. However, I continue to struggle to apply the concepts successfully.

The theme of this thread and Trading Futures with Context I know, is the display and explanation of "successful" setups, traders showing what is getting them into a trade initially and then how it plays out for them. My posts here will also be about what gets me into a trade and how it plays out for me, but no guarantees about the "successful" part. My posts here will be my honest application of the MP-ACD-type setups, good, bad or otherwise.

I gain a ton of great information from the posts of the veterans (thank you). But I also learn a lot from the struggles and growth of the rookies. I appreciate the opportunity to post and contribute on DC's thread (Thank you DC).


Today in CL:

The overnight (ON) traded within yVA (yesterday's Value Area). During the Euro session, the yVAL was tested twice and failed to breakdown through it. Premarket rallied a little (probably short covering from ON session) and the OP came in at 103.28 just a little lower than the CP from Friday at 10338. With the ON and OP within yVA, I am thinking rotational day with a slight up bias based on those two failed attempts to break below the yVAL during euro.

Other notes are in the charts...

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  #44 (permalink)
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Monday CL Review

Monday was a slow day with Europe in Bank Holiday mode today. I bailed out mid morning with only a few trade attempts and will look for better action tomorrow.

CL opened Sunday night and immediately started a sell off back into value, settling in between VAL and POC most of the overnight session. Two attempts were made to get lower and find sellers below value but they were rejected both times. The second rejection started the move higher for the day, placing us very near POC at the RTH open.

Price bounced around for a bit trying to find some direction away from POC and finally settled on higher about 30M into the RTH session. I considered this to be a long opportunity and price worked up from there until it stalled out at the overnight high and was unable to retest that area the rest of the session.

At that point we had confirmed A Up so I was looking for pullback long opportunities back down within the OR area. Two such opportunities presented with the first push back up stalling out at VAH and the second pushing up until the close of the RTH session.

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  #45 (permalink)
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CL Tuesday Trade #1

CL Tuesday

Overnight drifted lower away from VA and down thru yVAL. At the end of the euro session price broke even lower and traded thru the VAL of the last 6 sessions and hovering at the POC of the 4/10 session into premarket. With all that overnight selling activity, I am thinking there will be a lot of range today. Watching the open to see if there will be a short covering / ON inventory adjustment to the upside before moving lower, I am expecting yes. Looking for long opportunities if the open shows some strength and then short opportunities if/when the short covering peters out.

The buying tail and up movement of the first 5min bar indicate to me that we are going higher before we go lower. Take a long position after the close of the 1st 5min bar is above the OP. LIS is at the bottom of the OR and the low of the opening 5min bar.

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  #46 (permalink)
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Tuesday CL Review

Today on CL we had price moving lower strongly pre RTH. Price had pushed below value overnight and retested prior to the strong push lower. At the RTH open price stalled around for a bit before pushing on lower and giving continuation of the trend day lower. Price continued lower until the euro close where price simply rotated around from that point on until the close.

I identified two trading possibilities based on my trading plan, listed below:

Trade 1 Long at the close of the first 5m RTH bar looking for a push back towards value. Though we were showing the high likelihood of a trend day lower I saw the possibility of a push higher before a pullback short would have sent us lower. This trade did not work out and would have resulted in a stop out. LIS was the OP and initial target was a move back to a minimum of y'day low if the trade would have worked out.

Trade 2 short when trade 1 failed. If you don't push to value then great chance you will push away from value, as happened here. Price continued lower with a big volume spike as it went through globex overnight low and again at the 102 even level and finally into a previous npoc I had marked from a couple of weeks ago. Any of those would have been good exit or scale out points. LIS was OP again.

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  #47 (permalink)
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Tuesday NQ Review

NQ was strong overnight and that continued into the RTH with a nice push higher today. Overnight price stayed above value with only one attempt down into value that was rejected setting us up for a move higher. Price worked above y'day high overnight and retested but that held and took us higher into the open.

RTH opened with a little indecision right around the overnight highs. Price tried one time to push back towards value but stalled out before it ever made it to y'day high and from there trend day higher.

I only identified one trade as we never had any pullbacks until late in the session, too late for any more trades for me.

Trade 1 Long after price failed to gain strength lower and closed back above OP and globex high. LIS was OP and a nice low risk opportunity. Price continued higher throughout the session and could easily have been held until around lunch when price action showed stalling and a possible move back lower.

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  #48 (permalink)
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Wednesday CL Review

Yesterday CL made a big move and that was followed today by a tight range day with a lot of chop. Throw in the oil report and it made for a challenging day. Overnight price had been below value but working back up into a testing of value prior to the RTH open.

On the RTH open, price held above y'day low and moved up into value and from there worked up until it failed out at the 102 even area, forming a range that would not be held all session.

I identified four trades today per my plan as described below

Trade 1 long as price moved back into value, targeting minimum of POC and looking for move up to the top of value if the overnight high could break. LIS was the VAL with exit cues given at POC (high volume bar) and at overnight high when price couldn't stay above that 102 even level.

Trade 2 short after the news release looking for a breakout lower. LIS was y'day low. This trade did not work out and price moved back above the exit area pretty quickly without much positive movement.

Trade 3 short on rejection of 102 evens and POC. LIS was the POC looking for price to move back out of value and lower. high volume exit cue given at the VAL or simply when price couldn't get traction outside of value area.

Trade 4 short on third rejection of POC with a lower high this time. LIS again POC. Exit cue high volume given at y'day low or simply hold until close.

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  #49 (permalink)
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For me, today was mainly about looking at key levels (VAL, POC, Globex high, open) and taking what I could get.
These were the main points of interest for me.

1. long - break of VAL, bullish diverge, really wanted to see it go to the VAH but volume dried up on the one minute at the globex high

2. short - waited for report, bearish diverge with price breaking congestion zone, thought it would reject the open on the retrace but close above the open was enough to exit.

3. long - failed A down, moving above open breaking VAL, exit globex high

4. short - bearish diverge, price closing below POC in 2 previous 5 min. bars exit when price stalled at VAL

5. long - price coming off of VAL, exit globex high

6. short - bearish diverge, break below POC, stopped just above POC

7. short - POC reject , exit at open on high volume 1 min. bar., someone could have held on with the slow line on the 310 steeply bearish or reenter short on the reject of the VAL and exited on the high volume 1 minute bar near the ORL

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  #50 (permalink)
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cl so far for thursday

cl opens in range on top of val and springs above yest hod..Retrace, then close above hod.....1)long here target new highs...Failed aup,cover below line.
2)Below yest hod short..failed aup...cl finds support at poc....scratch trade.

3)possible short candle close below yest hod.
4)possible long green candle close above poc again

I believe these mp levels are correct now
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all trades sim until otherwise noted

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