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vertical market trading

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  #1 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

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

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  #3 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 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.



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.


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

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  #4 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 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.



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.



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.



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

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  #5 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 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.



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



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.



im def still a WIP.

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

¯\_(ツ)_/¯

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  #6 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

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.



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.



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



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.


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

¯\_(ツ)_/¯

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  #7 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 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

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  #8 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

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.



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.


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

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  #9 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

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.



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.



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

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  #10 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 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.



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.



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.


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

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  #11 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

GC failed PHOD right before its open and traded down. found support at the noise bands and resistance at the 5m OR then back down to a new low for the day. it quickly fired back up to test the underside of the 5m OR and i decided to get short targeting the low of day. she bounced around against me for 30min or so and i move my target back up and got a tiny winner only to see it go to my tgt in the next 10mins.



i wasnt sure about where CL was going for the day, but i did take a short right at the open that i got stopped out on. it tried to move higher shortly after and i got short again at a higher price. this one worked out with a target close to the ONL and noise bands. i didnt trade it at all again after that. it totally fell out of bed.



didnt trade the TF.

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

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 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

i had two trades today in the CL. i was long early as we held above the 5m OR and PLOD after we pushed above it coming from the ADR low. i exited around the area where most of the asian session hung at plus yesterdays close, it was also very close to the ADR high. the second trade was short from the same area as it looked like we were failing the 45m ORH and the noise bands. my target was resistance from overnight as well as PLOD.


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

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  #13 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

i took a trade in CL that was breaking below the lower ADN and 5m OR. it could have been scalped or closed out for BE or small loss but i let it go all the way. i thought it would go lower than it did, but the rejection from the PLOD was the clue here as well..



in TF i got short off the highs early as we were already all the way at the upper ADR/ADN. i was targeting the VWAP area on another chart and the 50% mark on the 45m OR.



i took an ON trade in GC as she pushed up towards the ADN high. was looking toppy and an area of resistance from the previous day. this ended up being resistance the whole day. i was targeting yesterdays close. it went a bit further(lower ADN)


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

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 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

monday was basically a scratch day all around on CL and GC.

today i took a short at the early 45m OR highs. my tgt was the bottom of the upper noise bands. it tagged it and quickly pushed back higher.



i took a short in the CL right before the open at a failure at the upper noise bands. figured it would go to the lower noise bands. that wasnt the case. then it pushed up higher and had a retest of the highs so i got short again. i pulled my stop down early because i thought it was going to go make a new high from how we opened up. that also didnt happen and fell out of bed. after we got a nice clean bounce from that move i shorted again at the bottom of the noise bands and picked up some more. again, not full potential.


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

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  #15 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

GC was confusing for me today during its RTH session so i didnt trade it.
TF seems like its all over the place, then falls out of bed at the end of the day, no trades there either.

on CL i had 1 trade right at the open from a failure to push up through the upper noise bands and its 5m opening range. i took a short with a target of the bottom of the 5m OR and what looked to be support before news. well i was right, but it ended up just being a pullback for much lower prices..


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

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  #16 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

i tried to get short on the first pullback after the open on CL, even added to it, but it just didnt want to break the low as the 5min OR was holding her up. i got out of this trade with a few ticks and looked for the next one. she blasted the other direction and i managed to get in, and add on to, the second pullback long.



i had two trades on the TF as well. short mid-morning that went in my favor and came back to stop me out. i could have gotten out earlier but i wanted to let it work. i left TF alone for awhile. the second one i got long above the noise bands and looked like she was going to breakout but stalled. i took 1 contract off for a couple ticks and let the last one run. it was getting late in the day and wanted to see if they would close it higher so i placed my tgt just above the swing high and it got nailed. not a bad day.


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

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