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My journal to trade by understanding market's processes and behaviors
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My journal to trade by understanding market's processes and behaviors

  #51 (permalink)
Elite Member
Gatineau Quebec Canada
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: Stocks
 
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Posts: 107 since Aug 2014
Thanks: 68 given, 78 received

Trend day vs rotational day ...

Hi all,

Did add some clarifications and characteristics to evaluate properly if we are in presence of a trend or rotational day. It is based on 4 characteristics: 1- Overnight inventory, 2- Open location (in or out of balance), 3- One Timeframing from the open and 4- Profile shape. More details at page 6 of the attached doc.

Good Saturday night all,

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My journal to trade by understanding market's processes and behaviors-trading-plan-2014-11-15.pdf  
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  #52 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: Sierra Chart
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Posts: 107 since Aug 2014
Thanks: 68 given, 78 received

Watching KEY (bank) yesterday for fun ...

Hi all,

I did watch KEY (Keycorp in banking) yesterday in replay mode since I thought JPM could have been too expensive to follow ... Without any preparation, I did watched it for fun to see what it would does since I was looking for more rotational opportunities .... Of course it went against me (and my zero preparation) and I did feel like crap for the rest of the day ...

So I will bring myself back into market study instead of trying to find more easy opportunity. The issue here is very simple: since I do have only a rotational play I do have a bias for rotational stocks or opportunities. I will not follow POT and JPM as mention in my previous post since I do already have 2 instruments to follow. Instead I will work more on preparation and I will complete my trading plan that lacks how to trade during trend days. This would have helped me trade at least INTC for October 7th replay. I also want to bring back 30 minutes bar chart and I should split my daily profile to see my instrument balancing and one timeframing ...

That is the game plan for the next days ...

Good Sunday night all,

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  #53 (permalink)
Elite Member
Gatineau Quebec Canada
 
Futures Experience: Intermediate
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Posts: 107 since Aug 2014
Thanks: 68 given, 78 received

Update November 27th, 2014


Hi all,

I am pretty quiet recently, I am currently in the process of changing to a new Survey firm (I am a Land Surveyor) so negociations are taking my extra time and energy.

I did setup the daily profiles to show overnight inventory and my 30 minutes bar with volume profiles on Sierra. I did document the configs, here they are:

----Sierra Chart Configuration

--Volume By Price on minute chart – 1 volume profile per bar

1-Add the Volume By Price study

2- Change the study input “Volume Graph Period Type” (row #2) to “Multiple Profiles Fixed by Bar Count”

3- Change the study input “Number of Bars for Fixed Bar Count” (row #5) to 1

4- Depending on how thick you want to see your horizontal volume bars you can set the study input “Ticks Per Volume Bar” to 1 to add price refinement to the volume bars

5- Change the study input “Display Volume in Bars” (row #17) to “Total Volume”

5- Change the study input “Highlight Point Of Control” (row #) to “Yes”

6- Change the Subgraph “Volume Bars Outline anf Fill Colors” colors to light gray (both, outline and fill color)

7- Change the Subgraph “Point of Control” color to light pink

8- To see the pre and post market (Evening Session) profiles: change the study input “Use Separate Profile for Evening Session to “Yes”. Then from your Chart Settings, enable Use Evening Session and set your Evening Start time at 16:00:00 and your Evening End time to 09:29:29

-- Daily TPO Profiles with Overnight as separated profile

1- To see post and pre market (Evening Session) as a separated profile change the TPO study input “New Period At Day Session Start When Using Evening Session” to “Yes”. Then from your Chart Settings, enable Use Evening Session and set your Evening Start time at 16:00:00 and your Evening End time to 09:29:29

I have my demo account back with my trading firm, live account next week ...

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  #54 (permalink)
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Posts: 107 since Aug 2014
Thanks: 68 given, 78 received

Update, December 9th, 2014

Hi all,

I am slowly getting back here. Did some clean up in my trading plan (removed the Study 1 section).

That is about it for now, I am still fighting on how to choose my stocks for my Friday PM trading sessions ... Might just pick up the most active for the day ...

Good night all,

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  #55 (permalink)
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Posts: 107 since Aug 2014
Thanks: 68 given, 78 received

One single trade today ...

Hi all and happy new year to everybody !

Did trade the live market this PM with my sim account. Did miss DIS (Disney) on the long side @ 14:39, I kind of choked but it was a good pick. I was telling myself it was building value lower (5 wide while the POC was 8 wide with about 11 other levels @ 8 wide too, all above my entry price ...). Did manage to take INTC (Intel) on the short side later to make a 0.08$ for 200 shares. The end of day volume came in play which triggered a defensive get out rule of mind ... But did follow it ...

The attached spreadsheet shows all, the 3 min chart and weekly chart are on the right side on the spreadsheet. They are visible on 2 screen wide or by scrolling to the right.

Goog weekend all,

er

Attached Files
Register to download File Type: xls Trading Journal 2015-01-09.xls (450.0 KB, 9 views)
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  #56 (permalink)
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Posts: 107 since Aug 2014
Thanks: 68 given, 78 received

No Trading last week for me

Hi all,

I had 2 very emotional days around my kid's school on last Wednesday and last Thursday. My kid has Tourette Syndrum and it requires a lot of follow up with everybody (including school director and teachers) and also a lot of involvement to let them know that the good old reward/punishment program with color charts does not work at all for kids who got neurological problems. Actually when you show the color cards it gets them heated up even more and the anxiety and the risk of explosion gets higher, not lower !! So to make a long story short, they were trying to put in place that kind of system ... We had to get to the psychoneurologist, breif her on the situation and now she will tell them that this system is not ok with our son ... We also had a meeting with the school director on Friday AM that went well ... They are full of good intention but with the wrong tools, that's about it. We did authorize them to talk with the psychoneurologist to find the proper tools - ideas - to improve the situation.

All of this to let you know that I did skip my Friday trading session since was not in a emotional state to get in front of chart. It took a lot of discipline to do it but today I am glad I did follow this rule ... My plan is to take back my Friday afternoon for tomorrow PM or Tuesday PM, I will see how it goes at work. Also I would like to trade Friday PM of this week as well.

I also learn that my kid is hooked up on online gaming which is totally not good for him ... He is 11 so we do have to replace that activity with something real ... Any extreme sports and activity (with the proper safety equipment) is apparently what works best for them ... And the injury risk is apparently way lower than the damage the online gaming could do for those kids. It generates the same drugs in their brain than the online gaming but in real life so ... I am working on some snow rails around the house and will try to get some air on the snowboard being pulled by the snowmobile !!

Good Sunday afternoon all,

er

Good

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  #57 (permalink)
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One trade today ... 2015-01-23

Hi all,

I jump into something at the end of day and got a small looser. Multiple rules not respected, I got long below the VA on a profile 4 wide around 15:45 ... The thing is that the POC was 5 wide and there was 4 wide above the VA as well ... So it was a kind of down directional day with multiple profiles within the daily profile ... I knew it for all PM that I was not in presence of a rotational day (on these days the POC usually act as magnet) but I lost patience and my mind made me pick it anyway ... Also Risk/Reward rule was not followed either, I forgot to check it ... :-( More detail in the attached spreadsheet with charts ... Its been 2 weeks that I did not trade or watch charts, I have to get more involve and I need to know my rules on the top of my mind ...

I was not in a calm environment this did not helped either.

I have to refocus and know better my stuff ...

Good week-end all

ER

Attached Files
Register to download File Type: xls Trading Journal 2015-01-23.xls (455.0 KB, 2 views)
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  #58 (permalink)
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Update February 10th, 2015

Hi all,

I have been busy with many stuff and did put my trading on the side for some time. I am back. I did talk a lot about rotational day vs directional day and how many stock should I follow and or watch and/or pick for a particular day. Watching too many is not good (hard to stay focus) while watching only a predefine list (like always the same 4 stocks) can lead you to watch something that is dead and not getting into any trade (especially for me since I trade in the PM).

So I came with the next idea: I have revised my stock universe down to 24 symbols. The first step will be to choose the best 4 stocks that shows the best rotational day characteristics potential out of my 24 stock universe. From there, I will follow only these 4 symbols for the rest of the day. I might adjust the number of stock to watch, 4 may be too much, I will see how it goes. But at least I will stop searching all of the afternoon everywhere and I will be able to focus on stock that have real time good potential rotational day characteristics. I did create a small form to help me pick my top 4 symbols. It is attached with the current post.

Tomorrow will be a study/revision/preparation day and I do plan to trade live Thursday.

That's about it for now,

Good evening all,

er

Attached Files
Register to download File Type: xls Checklists - 2015-02-10.xls (14.5 KB, 2 views)
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  #59 (permalink)
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One trade today ... 2015-02-12

Ok,

A neutral trade for me today. I tend to pickup active stocks buy using high daily volume while my goal is to stay and trade rotational days ... This is kind of opposite ...

I will try to come up with a better way for screening my stocks (from my new list of 24 symbols). I will use the less active stocks within my list to start with. My goal is to pick up 4 good potential stock that will give me good rotational opportunities in the PM.

Today I did play MPEL but it was an active stock and the profile was elongated. I splitted it to make it look like more of a symmetric profile ... :-( It was not a bad entry but it has also multiple errors like the risk/reward ratio not being respected ... Ended up with a 0.03$ gain for watching the market all PM ... And a live trade from 3:01 to 3:59 ...

There was also numerous big volume spike during the day, I guess the large guys were getting into MPEL here and there, the big prints were in the middle of the profile most of the time ...

Tomorrow I will work on stock picking only, no trading and will see from there.

Good night all,

Attached Files
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  #60 (permalink)
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Posts: 107 since Aug 2014
Thanks: 68 given, 78 received

How did I feel about yesterday's PM trading session


Hi guys and girls,

It was hard for me to accept that I spend all of the afternoon yesterday to get only one single neutral trade. From 4:00 to 5:00 I took the time to fill my journal, post my comments here on futures.io (formerly BMT) but I was still not comfortable inside for a good part of the night and I finally digest it around 9:00 AM this morning.

Time is the most precious thing we have and it hurts when you blow it. It all start down on how I did not manage properly my stock picking yesterday. I ended up making a very poor stock pick and from there, it was hard to trade properly with elongated profiles while you have rules for symmetric profiles. I know I repeat myself here but I want to have a very strong stock pickup process so I can expect to trade exactly what I want.

I also have another play in mind is a late afternoon play on gap days. I have to define properly the criterias for these days so I can pick these stocks too. It is in my mind but it is not defined in my trading plan and this is what I kind of did yesterday. Dalton talks sometimes of the late PM plays on gap days so I have to focus on that since it is a defined play that matches my trading period.

So, 3 things to be done here around stock picking:

1- Defines set of criterias for regular rotational day with an open in balance

2- Defines set of criterias for regular rotational day when open out of balance (gap)

3- Internalize the criterias so I can quickly perform excellent stock picking

Also, I did find a way to practice stock picking with the replay feature on SierraCharts:

1- Open the replay window
2- Set your 3 min chart on any previous day at 12:30 (12:30 is usually the time I got in front of the market)
3- Hit the play button
4- Hit the pause button

From there you can change the symbol on your linked charts and each chart (including the daily profile and volume profile) will load at 12:30 on that selected day. From there you can evaluate the daily profile at 12:30 for each of your stock universe (me 24 symbols) while being at night or during the weekend. After your pick is done (I personally pick 4 symbols), you can replay your pick at fast forward 5X for example or even faster for the rest of the afternoon and see if your pick provided good opportunities or even trade it on the replay feature if you want.

Ok enough, it is time to work on the stock picking process, it is the foundation of my approach, it has to come first.

Will keep you updated with new documents that provides what I am repeating here ...

Good PM all, good trading for those who will trade on this Friday PM,

er

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