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vertical market trading
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vertical market trading

  #1 (permalink)
Elite Member
Des Moines, Iowa
 
Futures Experience: None
Platform: Ninja, TOS
Broker/Data: AMP/CQG, TOS
Favorite Futures: CL, TF, GC
 
madLyfe's Avatar
 
Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received

vertical market trading

im going to start a journal again on futures.io (formerly BMT) in light of competition. competition makes everyone better so hopefully we can all learn something. its been awhile since ive done this, and never really did it correctly in the first place(trading/journaling).

a quick overview of how i trade. what i have most going for me is screen time and knowledge of certain mkt theories. mash together some auction, wyckoff, VSA, ACD and thats my style. nothing to a T. im flexible. i like playing off of the ADRs and opening ranges. they help me give the mkt some context and offer a framework to trade around.

for the time being i usually follow a daily chart and look for areas/trend. i trade from a 5min chart. i look for times of the days with high volume and large ranges. if these areas happen to line up around the edges of mkts, im game. i named this vertical market trading for that reason. i dont really draw trendlines anymore. i want to capture profit from the mkt moving up and down the ladder.

my goals out of all of this are to journal for at least this month(hopefully longer) and to take and pass a combine at TST by whatever means necessary. not an overly lofty set of goals.

things i need to work on are adding on to winners so i have the option to scale out properly, and to take trades that might be counter to the mindset i had going into the day or after a previous trade. i currently have a problem of switching gears and am letting nice profit go because i had booked a winner and lost focus of whats next. 2 goals and 2 things i need to work on are now identified. time to get to work.

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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Last edited by madLyfe; October 3rd, 2014 at 08:36 PM.
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  #2 (permalink)
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  #3 (permalink)
Elite Member
Des Moines, Iowa
 
Futures Experience: None
Platform: Ninja, TOS
Broker/Data: AMP/CQG, TOS
Favorite Futures: CL, TF, GC
 
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Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received


i got short in CL at a failure of PLOD. i picked a tgt going across that was obv support and it hit it cleanly. this is one of the things i noted that i need to work on. this wasnt an adding to position situation, but i did have a long bias for the day as we had cleared the ADR during the ON session with clear exhaustion. where my tgt was for the trade should have been where i was looking for a continuation long to the ADR and noise bands. i totally shut down after booking the trade.

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gold had also spent its ADR during the ON session and had given support there around the noise bands. after a breakout of the 5m OR and a push down to that same area and showing rejection a long seemed probable. i took it and had a tgt of the PHOD. i saw it stalling and realized this might just end up being a ranging day since the ADR was spent already and took my trade off. there was def a spot where i could have added on in a pullback into the 5m OR.

now once i realized that it was more than likely going to be a rangy day in gold, i should have milked her dry. i am new to watching GC and trading it like this. there were at least 2 more trade to be had in GC today.

i would rather trade TF, but that is not offered at TST for the combine until senior trader or something.

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dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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  #4 (permalink)
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Platform: Ninja, TOS
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Favorite Futures: CL, TF, GC
 
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Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received

today was poor overall. didnt lose much though. starting in CL i took a trade long at support of the ONL and failure to break out of the 5m OR. i was targeting the PHOD. i saw it failing at the noise bands and in turn pulled up my stop loss and exited with a small profit. this type of read is fine with me for a scalp. i really needed to have the bigger picture in mind though for the daily move. clue 1 was a move above the PHOD had failed twice during the ON session. clue 2 was that the noise bands failed to hold price ON and then provided resistance as we tested it right before the open. my exit was exactly where my entry for a short should have been on a second test and failure to go through the noise bands. live and learn.

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i took a long in TF as i felt it was bouncing off the top of the 45 OR and close to the ONH. it failed. still had room for more ADR. not sure if a later in the day on a friday had anything to do with it. things to note were that we had broken above PHOD during the ON session and came back to test it just after the open and failed quickly to break through that and stay above the noise bands. i should have been long earlier or at least when she pulled back into the 5m range. just not quite sure as we had a failure to break through the ONH.

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no trades in GC as i was late to the open this morning. we failed the PLOD and the noise bands. a large impulsive bar at the open with large rejection of both of these things. still had plenty of ADR to work with. there were other shorting opportunities, but we were running/out of ADR and im not sure how comfortable i am with that. maybe if we had already run out of ADR and were going the other direction. its hard to short around the lows when ADR is all used up.

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all in all it was a small loss day. thats ok with me. i am sad about missed opportunities, but recognizing the problems will let me capitalize on them in the future.

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #5 (permalink)
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Futures Experience: None
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Favorite Futures: CL, TF, GC
 
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Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received

grossness today. starting with TF i got short early as we failed PHOD and the noise bands. i couldnt have been more correct. we started to bounce up pretty quickly off of the lower noise bands and 45m OR so i brought my stop down from above the upper noise bands and got stopped out for a few ticks profit. this is where i should have been adding. the lower noise bands could have been a tgt i guess. if i wasnt going to take that as a tgt i shouldnt have moved my stop. i shut down and missed opportunities that were still out there for the day.

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i really wasnt sure about CL. i knew we failed the noise bands overnight. i could have got short as we tested the 5m OR from the underside. im not sure where a tgt would have been since we had 100 or so ticks left for the ADR. either way, it reversed back up to the bottom of the 45m OR. i got long and got stopped out. im not sure why i got long in that location, and im not sure why i had my stop so close. im sure it was something mental. just on the other side of the lower noise band would have been fine to catch the up move to catch most of the ADR by the end of the day. blah

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on the GC front i sold shortly after the open as we had run out of ADR and looked like we were struggling above the upper noise band. turns out it was support as we were testing it from the underside overnight. i dunno, maybe its just hard to see that kinda move. i left my stop in place on this one and it stopped me out. i cant let that mess with my head when working on leaving stops where they should be and in good locations. after we broke out of that little range i got short again. dont ask me why because i dont know.

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im def still a WIP.

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #6 (permalink)
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one thing ive noticed in GC is it really plays well around ON S/R. im still new to GC but not very much worked for me today. i got short early from the 5m OR and put my stop above the 45m OR high and got run over. i then froze up and didnt trade it again. i could have easily made up the lost ticks no problem. sadface.

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i got short the CL after we broke the ONL. then on the second pullback i added another contract. not 100% sure why i didnt add on the first pullback, but im sure it had something to do with being apprehensive after the gold trade. i had initial tgts set as you can see below.

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i closed out one trade at the bottom of what i considered to be support forming and left one for the LOD up to that point(bottom of that support range). if only i would have left my tgts where they were. meh

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for TF i got short early as well with my stop above the noise bands. i did this because we had given up the noise bands overnight as well as PLOD. she stopped me out pretty quickly and decided to range for the next couple hours. my tgt was the lower ADR. interesting as she failed the PLOD twice more on tests before she fell out of bed.

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dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #7 (permalink)
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Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received

no trades on wed as i wasnt around in the morning. watched on the sidelines for half the day.

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #8 (permalink)
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Favorite Futures: CL, TF, GC
 
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Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received

getting caught up: thursday trades

all of my trades for the thursday session were ON trades. i set the tgt/stp and went to bed. no trades were taken in anything for the RTH session. i should have been trading the RTH session, i just sat and watched it though.

starting with CL i decided to take a long after we dipped below the PVWAP a looked like there were enough buyers for a scalp to the ONH where there was resistance from the previous day as well. basically just a range. mkt came back and tested the same area and bounced to my tgt. this tgt was the HOD.

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on the GC ON trades i first got short as it looked like we were testing and failing the noise bands. i got stopped out on that first short when it popped above them. right after i decided this would become support and i got long at the top of the bands. it did get tested and shot up to my tgt. after that it tested once more and made a new ON high.

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dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #9 (permalink)
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Futures Experience: None
Platform: Ninja, TOS
Broker/Data: AMP/CQG, TOS
Favorite Futures: CL, TF, GC
 
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Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received

getting caught up: friday trades

right off the bat with GC i figured that since we had failed PLOD and the noise bands that if we were to test them again it would be a good trade. i waited and got long looking to hit the other side of the noise bands or at least the ONH. once we got back into the 45m OR i decided to add. i know i need to work on adding but this def wasnt a place to add. it wasnt even a pullback. of course when she started stalling i move my recent adds stop to some random dumb location it got hit. this spooked me even more and i move that first trades stop as well. this got hit. blah. i then got long again, set my stp and tgt for the other side of the 45/5m OR and just left it. late into the afternoon it was hit.

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in CL i made a really dumb initial trade. foolish to buy the highs. placed my stop below the noise bands from the initial break out and it was hit. i still felt like we were supposed to be long as we were having trouble getting to the other side of the range, the range from the ON session. this one played out with my tgt at the ADR.

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things i learned are that the day is not over and to readjust after getting it wrong initially. they day may not end up so bad in the end.

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

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  #10 (permalink)
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Favorite Futures: CL, TF, GC
 
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Posts: 1,641 since Feb 2011
Thanks: 9,217 given, 1,011 received


today was a pretty bad day for me. on GC i thought that we had failed the upper noise bands and were testing as resistance. i went short and it ended up taking me out. i left it alone the rest of the day. i really missed out on it using the PHOD as support. i could have even waited for a break above the noise bands for confirmation.

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on CL i got short after we had been around or below the lower noise band on the initial drive up. i had a tgt for the noise band and it filled. i could have added on a pullback if i didnt have a tgt already set in place. after she really pushed lower to the 5/45m ORL and bounce backed up to the noise bands. i shorted and got some movement. she had a knee jerk reaction back up and started to fail again so i added to the short. well that was short lived and took me out as it proceeded to make a new high.

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on TF i thought we were ranging and i took a short as it looked like we were failing the 45m ORH. it then decided to clear the ADR and fall out of bed.

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dont believe anything you hear and only half of what you see

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