NexusFi: Find Your Edge


Home Menu

 





COMMON SENSE


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one mfbreakout with 980 posts (2,733 thanks)
    2. looks_two sandptrader with 64 posts (128 thanks)
    3. looks_3 alejo with 36 posts (38 thanks)
    4. looks_4 madLyfe with 24 posts (25 thanks)
      Best Posters
    1. looks_one Surly with 3.4 thanks per post
    2. looks_two mfbreakout with 2.8 thanks per post
    3. looks_3 jthom with 2.6 thanks per post
    4. looks_4 sandptrader with 2 thanks per post
    1. trending_up 159,885 views
    2. thumb_up 3,304 thanks given
    3. group 64 followers
    1. forum 1,262 posts
    2. attach_file 811 attachments




Closed Thread
 
Search this Thread

COMMON SENSE

  #51 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818

CL is doining her thing. Reshort after API report. Reaction to DOE report tomorrow will be interesting to say the

least. My favourite day to trade CL.

Attached Thumbnails
Click image for larger version

Name:	2014-07-22_0855_short.png
Views:	214
Size:	154.6 KB
ID:	151488   Click image for larger version

Name:	2014-07-22_1440_long.png
Views:	208
Size:	177.3 KB
ID:	151489   Click image for larger version

Name:	2014-07-22_1652_reshort.png
Views:	198
Size:	146.5 KB
ID:	151490  
Visit my NexusFi Trade Journal Started this thread
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Deepmoney LLM
Elite Quantitative GenAI/LLM
Futures True Range Report
The Elite Circle
Online prop firm The Funded Trader (TFT) going under?
Traders Hideout
Build trailing stop for micro index(s)
Psychology and Money Management
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
56 thanks
Funded Trader platforms
44 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #52 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818

Traders using MA etc. are stunned and in disbelief with CL moves. Yesterday 90 ticks move from 102 area after 30

ticks range SONG and DANCE for majority of the day .

The short covering pushed CL into 103.40 area into Asian session and today there are NO TAKERS.

Everyone like to be a PRICE ACTION trader but then they count candles all day and get surprised.

Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #53 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818


" My favourite day to trade CL".

Regardless of the day , have to follow the RULES. Feeling the pain for not following the RULES.

Attached Thumbnails
Click image for larger version

Name:	2014-07-23_1122_short.png
Views:	233
Size:	173.3 KB
ID:	151536  
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #54 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818

Fortunately longs in TF paid off.

Attached Thumbnails
Click image for larger version

Name:	2014-07-23_1155_long.png
Views:	208
Size:	138.1 KB
ID:	151539  
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #55 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818


mfbreakout View Post
" My favourite day to trade CL".

Regardless of the day , have to follow the RULES. Feeling the pain for not following the RULES.



Added size to short around 103.22 for reversion to the mean and BOOM. Nothing wrong with adding to so called looser if RISK is within ones comfort zone but then it's not for everyone.

If ones goal is to make 20 ticks etc. then tight stop loss is the way to go. I tried this approach for many years and i just could not compete with algos.

Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #56 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818

Q) A fellow trader e-mailed me asking why i shorted 102.54, add to short 102.90 etc. when Level 11 etc. were

showing buyers.


A) I get headache when i look at anything which moves at a fast pace like Delta foot print etc. If i look at them
all i get at the end of the day is sweaty arm pits, dry mouth, heart poinding fast and on and on.
It's not worth to me plus i have not found a trader who is clearing more than scalps while looking at so called order flow. I am holding trades for hours. There is no way i would be able to hold a trade while looking at level 11 etc.

Visit my NexusFi Trade Journal Started this thread
  #57 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818

Violated RULE # 1 in ZS also. Took a short off ORL area. Paid for it.

2 trades since then per RULES paid off.

1) Short reversion to the mean.

2) A up confirmed pullback long.

Attached Thumbnails
Click image for larger version

Name:	2014-07-23_1128_ZS.png
Views:	172
Size:	182.5 KB
ID:	151565   Click image for larger version

Name:	2014-07-23_1412_a_up_puulback.png
Views:	186
Size:	121.2 KB
ID:	151566  
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #58 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818


mfbreakout View Post
Added size to short around 103.22 for reversion to the mean and BOOM. Nothing wrong with adding to so called looser if RISK is within ones comfort zone but then it's not for everyone.

If ones goal is to make 20 ticks etc. then tight stop loss is the way to go. I tried this approach for many years and i just could not compete with algos.


let's say i was not aware of what can happen on a day when A up is confirmed. What would i be feeling with CL back up at 103.12 with fully loaded short position with some PIE IN THE SKY targets?

Luckily i am aware of that. Out flat 103.09.

Trading day is over and now it's analyst time to fantasize as to why CL did what it did today. Whatever pre market fantasy i had sure did not work out.

Attached Thumbnails
Click image for larger version

Name:	2014-07-23_1409_pullback_long.png
Views:	186
Size:	122.5 KB
ID:	151568  
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #59 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818

Over the years after searching high and low for various indicators, it seems to me from other traders posts and my

own trading that it does two things.

1) Reduces the potential gains.

2) Get a trader brain wired for a certain outcome within a short time period. For example posts like
grabbed 24 ticks in 5 minutes, snagged 16 ticks in 2 minutes and on and on are pretty common. I was the same way without realizing
that this kind of behavior will take years to get rid off or in some cases never.



Short with a long hold time. Added to short arond 102.80 on bounce from 102.60 area.

Cover some 102.21.


Today A down is confirmed , so i plan to reshort any bounces to 102.90 to 103.20 area. Otherwise holding runner to see where she goes. Beyond 100 ticks move, i typically try not to look too far into the future but 101.50 will be nice.

Attached Thumbnails
Click image for larger version

Name:	2014-07-24_1040_short.png
Views:	200
Size:	152.7 KB
ID:	151634  
Visit my NexusFi Trade Journal Started this thread
Thanked by:
  #60 (permalink)
 
mfbreakout's Avatar
 mfbreakout 
BOSTON, MA
Market Wizard
 
Experience: Advanced
Platform: Tradestation, TOS
Trading: ES, CL, GC
Posts: 7,254 since Oct 2010
Thanks Given: 3,478
Thanks Received: 15,818


Stay away from any method/indicator which SCALPS on a regular basis. I scalp when that's all one can do.

For example, due to FB blow out earnings last night plus host of other bang out earnings from other companies
I was all overly excited and thus fully loaded in TF this morning. But the day turned out to be a 6 points gains. One has to be flexible and have some contextual frame work in mind to have a chance.


On the other hand GOLD had some potential but as usual long hold time.

Attached Thumbnails
Click image for larger version

Name:	2014-07-24_0552_boom.png
Views:	182
Size:	125.5 KB
ID:	151635   Click image for larger version

Name:	2014-07-24_1049_reshort.png
Views:	183
Size:	172.3 KB
ID:	151636   Click image for larger version

Name:	2014-07-24_0523_short.png
Views:	177
Size:	230.2 KB
ID:	151637   Click image for larger version

Name:	2014-07-24_0547_box.png
Views:	163
Size:	95.7 KB
ID:	151638  
Visit my NexusFi Trade Journal Started this thread
Thanked by:

Closed Thread



Last Updated on November 27, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts