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The Bolt Trader Journal

  #101 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Almost Missed This Trade

I was in the middle of taking a screenshot and saving it for the missed trade during the news. It was a perfect setup. When I saw this. I had to do my entry by market order instead of limit order so I netted $587.00 vs. $600.00 that I wanted but that's ok.

In fact, as I am typing this I missed another good trade on ES but I am ok with that because I am actually thinking about stopping for the day on ES because it is nice to be positive here. I have been alright on Crude (CL) but the S&P 500 has had its way with me so far this Combine.

Here is the screenshot:

S&P 500 (ES)

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Last edited by BoltTrader; January 22nd, 2015 at 10:15 AM. Reason: Mistake in the numbers
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  #102 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary


bobwest View Post
Looks like you're doing well in Crude, though. Since these are very different markets, do you have a good idea why, so far, your trading seems to have matched Crude's personality better than ES's?

(And of course, maybe it's just how a few trades worked out, too, and may not have anything to do with individual markets' characters. Just something I thought of to ask.)

If in fact you have a comparative advantage in Crude, would you want to switch to Crude exclusively once you have ES back above zero?

Also, since you seem to be doing a custom Combine, can you say what your profit target is? Makes it easier to root for you, which I am, if I know how you're doing in terms of the goal.

Very good work. Keep it up.

Bob.


Thank you! I prefer trading Crude but when I go live I want the ability to trade more than one market thus I am trading the ES also. When I am patient and get my setups T1 is 16 ticks and T2 is either 26 ticks or my fib target. My problem is waiting for the fib target so I usually take the 26 ticks. When I am scalping my targets are less than 16 ticks. Actually, my main setups will work on any market but I need to work on my discipline. I have a tendency to over trade and want to be in the action. The result is that I end up taking a lot of trades that I really shouldn't take. I am trying to work on this.


Last edited by BoltTrader; January 22nd, 2015 at 10:13 AM. Reason: Forgot to answer part of his question
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  #103 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

All Green!!!!


Well, I am very excited. No I haven't finished my Combine and qualified for a funded account yet but I am well on my way, Lord willing. Today, is the day that I finally got the ES into positive territory for the trading average. It was the only Combine Rule keeping me from qualifying up to this point. Now, I have 7 days left to finish strong. Here are my trades results for today:

S&P 500 (ES)

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  #104 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

New Approach

I have decided to change things up a bit for the last 7 days. I am basically going to trade nothing but wave patterns for the remainder of the Combine. In doing so I am going to use a tick chart with nothing more than an exponential moving average on it. With this type of trade my stop will NOT exceed 10 ticks on any contract. If the trade setup requires more than a 10 tick stop I will pass it up and wait for another opportunity. I plan to trade 4 contracts and am looking for 2 successful trades to call it a day. My first target will be 16 ticks unless the chart tells me otherwise. T2 will be determined by either the chart or Fib levels. Here is a picture of what I am talking about:

Crude (CL)

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  #105 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,632 since Jan 2013
Thanks: 26,738 given, 11,106 received
Forum Reputation: Legendary


BoltTrader View Post
I have decided to change things up a bit for the last 7 days. I am basically going to trade nothing but wave patterns for the remainder of the Combine. In doing so I am going to use a tick chart with nothing more than an exponential moving average on it.

When you say "wave patterns," are these Elliott waves? If so, I've never been able to make them work in real time, although in hindsight, like many things, they always do, or seem to. So if this is Elliott, I would be very excited to see it being done. If it's not Elliott, well, I'd be interested in seeing that, too.

Good luck , however you do it. And, good work on getting back in the green in ES.

Bob.

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  #106 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Example for Bob

Bob,

I am NOT smart enough to do all that Elliot Wave stuff. This is a real simple setup that works good. Here is a picture showing 2 trades that occurred this morning near the open on CL.

Crude (CL)

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Last edited by BoltTrader; January 23rd, 2015 at 01:50 PM. Reason: Wrong formatting
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  #107 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Combine Update

No trades today - I stayed up way too late last night and was too sleepy this morning when I awoke. So I went back to sleep for awhile and decided to trade again on Monday. Have a great weekend all!

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  #108 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Example for Bob

Bob,

I don't want you think that I would have stayed in on both those trades. The yellow dots on this picture portray where I would have taken profit. I am perfectly content leaving money on the table for others to enjoy. T1 in these 2 trades was +16 and T2 equals +26.

Crude (CL)


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  #109 (permalink)
Elite Member
Hanover, Germany
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Crude Oil
 
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Posts: 1,440 since Apr 2014
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BoltTrader View Post
Bob,

I don't want you think that I would have stayed in on both those trades. The yellow dots on this picture portray where I would have taken profit. I am perfectly content leaving money on the table for others to enjoy. T1 in these 2 trades was +16 and T2 equals +26.

Crude (CL)


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why would you Limit BOTH of your scales like that? I understand taking one off early, could you Elaborate on why you choose to take off the 2nd a Little later as well? Thanks

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  #110 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Last Example for Bob


Bob,

This is what it would have looked like on my actual trading chart. I know it is easy to look back and do this but I am trying to depict how I hope I would have traded this had I been in front of the charts at the time. 4 actual opportunities. The last I wouldn't have taken unless I missed all the others and then only for 8 or 12 ticks NOT the +16 and second target. The third trade is the last one that I would have tried for both my targets of +16 and +26 and even there I may have exited all at +16 ticks. Hope all this helps!

Crude (CL)

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Last edited by BoltTrader; January 23rd, 2015 at 02:48 PM. Reason: To Make Clearer
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