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TS' Trading Journal (Since 2014/9/8)
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TS' Trading Journal (Since 2014/9/8)

  #11 (permalink)
Elite Member
Hanover, Germany
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Crude Oil
 
Scalpingtrader's Avatar
 
Posts: 1,440 since Apr 2014
Thanks: 1,734 given, 3,075 received

Good Luck on your trading & Good that You Journal now, I know you've been around for a while.

P.S.: allow yourself more time for your goals. I wouldn't be surprised if it doesn't take a month but a year to get yourself straight as under control. Not that I don't believe you can do it but normally it takes time. A lot.

I don't do stocks but will lurk around anyways

ST

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  #12 (permalink)
Elite Member
Hubei, China
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Broker
Favorite Futures: Stocks
 
tshunhu's Avatar
 
Posts: 271 since Jun 2014
Thanks: 304 given, 165 received


Scalpingtrader View Post
Good Luck on your trading & Good that You Journal now, I know you've been around for a while.

P.S.: allow yourself more time for your goals. I wouldn't be surprised if it doesn't take a month but a year to get yourself straight as under control. Not that I don't believe you can do it but normally it takes time. A lot.

I don't do stocks but will lurk around anyways

ST

Thank you, Scalpingtrader! I'll give myself time to learn and practice actively

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  #13 (permalink)
Elite Member
Hubei, China
 
Futures Experience: Beginner
Platform: NinjaTrader
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Favorite Futures: Stocks
 
tshunhu's Avatar
 
Posts: 271 since Jun 2014
Thanks: 304 given, 165 received

Weekly Summary


Monday: -51
Tuesday: -81
Wednesday: -15
Thursday: No trade
Friday: No trade
Total: -147.
Three consecutive lose days, still too emotional when put trade. Should always trade it like fishing, patient to enter and exit.
Anyway small lose, keep trainning and learning~

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  #14 (permalink)
Elite Member
Hubei, China
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Broker
Favorite Futures: Stocks
 
tshunhu's Avatar
 
Posts: 271 since Jun 2014
Thanks: 304 given, 165 received

20140915

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SPY:
  • 1st trade: short @198.50, target @??, stop @??, loss
Frankly speaking, I cannot remember what exactly I was thinking. when I saw 4 consecutive bear bar since the open, I asserted that the bear must go deeper before bull to show up. I must do not have a clear plan back then and entered the trade by emotional and hope.
  • 2nd trade: short @198.61, target @198.41, stop @198.70, win
Now when I look back this trade, I feel lucky. My entry bar merely touched the bear trend line, I assume the the price will go down, at least to touch the prior low. I put my target around the prior low and got filled.

----------------------------------------------------------------

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FB:
  • 1st trade: short @76.50, target @76.18 (exit @76.45), stop @76.71, win/even
I really felt the down side momentum. I placed this trade when my entry bar was in a upside down hammer shape. But I didn't stick to my plan, when my entry bar finished with this healthy bull shape, I lost confidence and got out around even.
  • 2nd trade: short @76.12, target @75.74 (exit @76.09), stop @76.34, win/even
My entry was below the trading range after the first 4 bars moving down from the beginning. I was expecting a measured move down at least the size of the trading range. I don't know why I exit so early, it just stupid...maybe the doji bar after my entrance reduced my confidence. I should really stick to my origin plan.
  • 3rd trade: long @75.24, target @ 75.54 (exit @75.28), stop @74.84, win/even
The good shape bull bar just before my entry formed a 2 bar reversal with the bear bar just before it. I was expecting a move up the touch the MA. Again did not stick to my plan, got out at around even. Although it is not a bad idea to get out early, and may actually avoid further loss, still not good to form a good habit. Should not enter this trade, because the bear was so strong, bull normally would not come directly without any trading range.
  • 4th trade: long @75.32, target 75.74, stop 75.10, loss
  • 5th tarde: long @74.18, target 74.47, stop 74.80, loss
I must get stuck to the long idea, after the moving down from the open, I was not willing to believe the price could go lower...should not place the trade, because the market was still in a tarding range, actually the 4th trade has shown me that the bull was not in control yet. A touch to the MA and failed break out must followed by continuous move down...

Total P/L: -48

Little summary: the first 2 trades show my weakness clearly, I cannot hold the winning position. If I hold either of these 2 trades longer, I would not place the following 3 ones. In the 5th trade, I actually should get out earlier. but I held losing position longer.

I think it is normal to beginner !? and should be overcome by developing a good habit, even by loss. Am I right? @tturner86 @Big Mike Thank you~

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  #15 (permalink)
Elite Member
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
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Posts: 3,336 since Dec 2012
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Good trading habits will only help your results if you have an edge, and until your chart or method contains useful information you have no edge. At the moment I see no information, so no edge.

At this stage your habits have to be about life routines, hard work and learning.

There is a mountain of great trading information in the forum from which you can start to build an edge, one that you personally feel comfortable with and can see working time and time again. Do not underestimate the screen hours and life years needed for this phase.

Only then do you also need to think about developing habits to help with the emotional jungle that follows.

Have a great journey. One step at a time.

Travel Well
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  #16 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,784 since Sep 2013
Thanks: 9,849 given, 11,160 received
Forum Reputation: Legendary

@ratfink is correct. Trading is actually quite simple. Buy at support and sell at resistance.

First thing I would do is learn how to find horizontal S/R lines from previous price action. Also learn how to draw channel and trend lines (like you had with your first trade).

I would do this without trade at all. Just draw the lines and follow price. Note areas where price pivots off of S/R. Learn to see it as it forms. That way when you are trading and we are nearing S/R you can see it a head of time. As you gain more experience you will learn what S/R will matter more.

Looking at your first trade you shorted quite a bit away from the TL. Typically you would want to short the touch of the TL to get the best entry, give more room for profit, and lessen your risk.

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  #17 (permalink)
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Birmingham UK
 
Futures Experience: Intermediate
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ratfink's Avatar
 
Posts: 3,336 since Dec 2012
Thanks: 11,276 given, 7,090 received


tturner86 View Post
Trading is actually quite simple. Buy at support and sell at resistance.

Yeah, dead simple. Couple of decades and I've nearly got it sorted.

Travel Well
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  #18 (permalink)
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ratfink View Post
Yeah, dead simple. Couple of decades and I've nearly got it sorted.

LOL. Dead simple, just not easy.

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  #19 (permalink)
Elite Member
Hubei, China
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Broker
Favorite Futures: Stocks
 
tshunhu's Avatar
 
Posts: 271 since Jun 2014
Thanks: 304 given, 165 received

20140917

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FB:

1st trade: short @ 75.88, target @75.62 (exit @75.73), stop @ 75.97, win
2nd trade: short @ 75.79, target @75.59, stop @ 75.97, win
The moving down trend line made me safe about short to a touch to the previous low. The first trade sacred me out as the entry bar was forming a doji bar, I got out earlier with partial profit.

3rd trade: short @78.80, target @75.57, stop @75.97, lost
4th trade: short @75.91, target @75.57, stop @75.97 (exit @75.92), lost/even
Ignoring the big bull shape of the entry bar, I was waiting for a touch of TL or MA and then a down side break out. Tried 2 times both failed

5th-7th trade: purely emotional nothing to say...

8th trade: short @76.05, target @75.92, stop @76.25, lost
3 bear bar with long tails on the top of each one, I was convinced that the bear should return. The bull doji bar actually told me that the bear may not return to take the price down...should move down the stop to the red dash line once the bull doji bar finished.

9th-12th trade: got emotional again...fear to lose and anger to win back...

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FB:
13th trade: Short @76.12, target @??, stop @76.42, lost
Actually an accidental entry...should get out early

14th trade: long @76.42, target @76.51, stop @76.36, lost
I reversed my position after 13th trade, hoping for a up side breakout. I was right, but the tight stop gave the market the chance to throw me out before moving up. The big stop in 13th trade made me terrified to lose by loose stop, the very next trade gave me the lessen about tight stop...

15th-17th trade: scalped a bit during the FOMC news...it's dangerous...

Little summary to FB: I personally find FB more difficult to trade than QQQ, SPY. The volatility is large and fast, and chart is complicated for me to interpret, easier to get emotional...definately overtrade today on FB, I will trade sim on it, and trade smaller size if I see opportunities.

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QQQ:
1st trade: short @99.46, target @99.34, stop @99.50, win
Short near the TL, stop was a bit higher than previous high, target at open low. Got filled.

2nd trade: short @ 99.33, target @99.24, stop @99.37, lost
Two bars just before my entry made me believe that it is a false upside break out of the TL, so I was expecting a touch to the previous low. stopped out.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

SPY:
1st trade: short @200.61, target @200.47 (exit @200.52), stop @200.68, win
setup as micro double top, two touches to MA, one touch to TL, shorted for the test to previous low. Scared out, afraid of a double bottom with previous low. Should not, better move stop to even, if necessary. Aversion of lost casued by trades on FB.

2nd trade: short @200.51, target @200.32, stop @200.55, win
Almost same setup as 1st trade. Got filled

Total: P/L +67 (increased size)

Little summary: Messed up on FB, totally lost control...Did better on SPY and QQQ.


ratfink View Post
Good trading habits will only help your results if you have an edge, and until your chart or method contains useful information you have no edge. At the moment I see no information, so no edge.

At this stage your habits have to be about life routines, hard work and learning.

There is a mountain of great trading information in the forum from which you can start to build an edge, one that you personally feel comfortable with and can see working time and time again. Do not underestimate the screen hours and life years needed for this phase.

Only then do you also need to think about developing habits to help with the emotional jungle that follows.

Have a great journey. One step at a time.

Thanks to @ratfink and @tturner86! I will develop a written trading plan. I'm reading as many threads as I can and watching archived webiner while taking note. No rush, just little progress everyday~

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  #20 (permalink)
Elite Member
Hubei, China
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Broker
Favorite Futures: Stocks
 
tshunhu's Avatar
 
Posts: 271 since Jun 2014
Thanks: 304 given, 165 received

20140918


Enough for today, I still have not gotten an "edge" to trade, feel fear and emotional when trading. It would be a waste of time and money to continue.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

QQQ:

1st trade: short @99.98, target @99.84, stop @100.13 (exit @100.00), lost
My entry was below the bull TL(not shown), hope the price move further down, at least touch the MA, better the open. But it was risky since the MA was climbing. Should have waited for the entry bar to close and then decide if enter or not. Again trading against MA direction is not good for me...

2nd trade: long @100.19, target @??, stop @100.10, lost
Really regret by missing the 3 consecutive bull bars. Thinking the bull spike just would not stop very soon, at least for a scalp. But actuall it does turn into a spike down...

3rd trade: long @100.09, target @100.19, stop @100.07, lost
Tried again for long side...stopped out where price break the TL

4th trade: short @100.06, target @99.98 (exit @100.03), stop @100.09, win
Scalp for a touch to MA, since it did not, got out earlier.

5th trade: long @100.06, target 100.12, stop @100.00, lost
My entry bar formed a 2 bar reversal with the bear bar before it. I was hope a break out pull back of previous bull TL, but failed.

6th trade: short @100.00, target @99.92, stop @100.10 (exit @100.06), lost
Reversed the 5th trade, really emotional unstable.

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FB:

1st trade: short @76.92, target 76.85, stop @76.99, lost
Expecting a scalp for the touch of previous lower low. Actually a stupid idea, it's difficult, and not worthy.

2nd trade: short @76.96, target 76.85, stop @77.00 (exit @76.95), even
I got greed once the price really dipped to 76.85, I wanted a deeper move down to test the open. Failed and ran away at even.

3rd trade: short @76.92, target @76.85 , stop @76.99, lost
These bull bars before my entry all have tails on top, and touching MA, I think is some kinds of strength by bear side, but wrong.

4th & 5th trade: Finally get convince the bulls are taking control. Still the same problem, I just cannot let the winning trade to grow. After get out of the 4th trade, I find the bulls are still stong, so got into for a scalp. It's just not worth the risk to enter again....I'll pay attention to this problem when contructing my trading plan, and let the winning trade to run further.

Total P/L = 5

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