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The Bolt Trader Journal

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  #201 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I am going to change to 3 contracts now to follow the scaling plan for the 100K Combine. Might as well get use to it before next Tuesday.

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  #202 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I will be looking for 2 trades a day with 3 contracts @ +10 ticks each. Here is my first for today:

Crude (CL)


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  #203 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I missed the ideal entry so I tried to limit in on a pullback. It missed filling my order by 1 tick and went to target.

Crude (CL)


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  #204 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I am trying to do to many things at once and missed the entry. So once again I tried to limit in. It came to within 1 tick of filling my order and then went to target.

Crude (CL)


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  #205 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Took this first trade with 3 contracts for +10 ticks each. It was definitely a counter-trend trade. I entered the trade based on the long wick of the previous bar at fib target.

Crude (CL)


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  #206 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Stopped out just prior to price reaching target. Have my ATM set to advance once +8 ticks is reached and the move back against me went farther than I anticipated.

Crude (CL)


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  #207 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Reentered the trade. Took +10 with 3 contracts:

Crude (CL)


One more successful goal and I will have reached my goal for the day. I am trading this exactly as I will next Tuesday in live trader preparation.

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  #208 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Missed this short for +10 ticks each with 3 contracts. Just so you know all of these setups are very aggressive trades.

Crude (CL)


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  #209 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Done for the day.

Crude (CL)


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  #210 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Decided to start TopStepTrader's Live Trader Preparation tomorrow because I broke a tooth last night and need to try and get in to a Dentist this morning. As a result, I am trading in my Sim Account this morning. My first trade didn't fill this morning and already reached its target. So I cancelled the order.

Crude (CL)


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  #211 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: ES, YM
 
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Posts: 6,492 since Jan 2013
Thanks: 49,146 given, 21,792 received

Good luck with your dental experience. Hope it all works out easily and well for you.

Bob.

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  #212 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Took quick retracement to moving average with 3 contracts @ +11 ticks each. Was expecting it to go further and start congestion but as you can see this is extremely strong move to downside. Now looking for price to reach range expansion support which I need to draw on the chart.

Crude (CL)


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  #213 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

One surprised me and was stopped out took the 2nd for a larger target to reach daily goal.

Crude (CL)


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  #214 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I just reset my Sim account and am going to see if I can reach my daily goal for TST Live Trader Preparation again.

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  #215 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Took a 2nd entry short failure at break of major channel for +10 with 3 contracts.

Crude (CL)


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  #216 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Wish I would have traded Live Trader Preparation today. Meet goal for the day twice now:

Crude (CL)


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  #217 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Passed on my first entry setup because it was right at the open. I went short on the retracement to resistance with 3 contracts for +10 ticks each.

Crude (CL)


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  #218 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Today, we have been sharing volume between the 3/15 and 4/15 CL contracts. Almost 50/50 but 3/15 is slightly ahead. Seems like we are stuck in a range right now. I passed on 4 good entries being a little to cautious. I only need one more successful trade and I will have met my goal for the day. But it is better to be safe than sorry. I will wait for it to move one way or the other or make a couple range bound trades with 1 contract.

Crude (CL)


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  #219 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Never did take a 2nd trade today. Volume is almost exact for both the 3/15 and 4/15 contracts now. Expect 4/15 to take over by the end of the day. Have to go back to the Dentist in a couple hours. I will settle with starting Live Trader Preparation on a positive note. I will also post the Trader Report later this evening. Have a great day all!

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  #220 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Here is my Live Trader Preparation Trade Report for the day:

Crude (CL)


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  #221 (permalink)
 KahunaDog 
Hawaii at the beach
 
Experience: Beginner
Platform: Nt8, MotiveWave, TOS
Broker: S5
Trading: ES, ZB fine alcohol and muscle cars
 
KahunaDog's Avatar
 
Posts: 537 since Apr 2013
Thanks: 1,136 given, 397 received

Very nice first day of trader prep.

What do you think of the differences as well as pros/cons of the various sized combines? The 100k one you've successfully completed seems like one I would like to build to over time. After more leg work.

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  #222 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received


KahunaDog View Post
Very nice first day of trader prep.

What do you think of the differences as well as pros/cons of the various sized combines? The 100k one you've successfully completed seems like one I would like to build to over time. After more leg work.

Thank you. The only reason I went with the 100K account was because things have changed in our family situation and I am going to need to be trading with more contracts sooner than I would be able to with a smaller sized account. However, after making the change I really like this size account.

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  #223 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I got up and saw what appeared to be a great setup. I went for my normal +10 ticks. Price hit my target twice but didn't fill. Bummer! Instead of moving my stop up I elected to let it remain at -8 ticks. Unfortunately, I was stopped out. I am ok with this because too often I move my stop up only to get stopped out and then watch price move in the direction of my trade, hit the target and then proceed on past the target.

Crude (CL)


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  #224 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Tried again. Same trade. Price went +8, reversed and stopped me out at -5 ticks. As per my rules, I am stopping trading for a 20 minute break.

Crude (CL)


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  #225 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I just completed my morning prep. Had I done it first. I never would have entered those 2 trades. Lesson learned. Be patient. Follow your plan. Which I didn't do. I thought I was at the beginning of a major retracement or reversal by glancing at the charts. I was expecting my 2 trades early and be done for the day.

Crude (CL)


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  #226 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Officially SHORT in my mind. Now looking for leg 1 to complete. Short entry setups. 1st target is range expansion 1 of 49.47. 2nd range expansion is 48.51. Next fib target is 46.75. Possibility of a very large day.

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  #227 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Two weak 2nd entries at channel highs occurred. I chose to pass but they worked out nicely. If I am correct I have a measure move target of 49.21. Buyers are nowhere to be found. Trying to get in short but it may go all the way down to range expansion 1 before I can get in.

Crude (CL)


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  #228 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Perfect setup. Took 2nd entry short after channel break. Price came within 1 tick of stopping me out but thankfully didn't. One more trade and I will be positive for the day and I can look to reach my daily goal.

Crude (CL)


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  #229 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

A little late with my entry so I tried a limit order and it didn't come back to fill my order before reaching the target. It was a counter-trend trade.

Crude (CL)


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  #230 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

New measured move target for leg 2 is: 49.33

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  #231 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Buyer's took control. Looking for leg 2 up to complete at 50.91 which it did to the tick. Now on leg 2 down. Haven't been able to get in yet. Here is the picture I took before it reached the measured move up.

Crude (CL)


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  #232 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

It's to close to the Crude Inventories Report to take the perfect setup short. Hate that when it happens.

Crude (CL)


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  #233 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

One more trade. I went short on a 2nd entry short after a minor channel break with 3 contracts for +10 ticks.

Crude (CL)


I am going to break for a while and come back this afternoon to see if I cannot get one more trade for the day.

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  #234 (permalink)
 ratfink 
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
ratfink's Avatar
 
Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,403 received


BoltTrader View Post
It's to close to the Crude Inventories Report to take the perfect setup short. Hate that when it happens.

Good awareness, I'm poor on that score.

Travel Well
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  #235 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received


ratfink View Post
Good awareness, I'm poor on that score.

I use the free alarm clock software. It is a life-saver! I highly recommend it. Here is the link if you want to check it out:

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  #236 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Took 1 more short with 3 contracts for +10 ticks. I was tempted to ride this one out for a few more ticks but elected not to and just follow the plan.

Crude (CL)


Those two early foolish trades really hurt the bottom line today but I am still pleased overall.

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  #237 (permalink)
 ratfink 
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
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Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,403 received


BoltTrader View Post
I use the free alarm clock software. It is a life-saver! I highly recommend it. Here is the link if you want to check it out:

Already use it thanks to @bobwest

Travel Well
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  #238 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Here is the LTP Trade Report for today:

Crude (CL)


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  #239 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I elected to sleep in a little this morning and was all ready for the Emini open at 9:30 EST. I was all set to enter a trade after passing on 2 nice setups when my Internet connection went down and stayed down for longer than I am comfortable with. At this point I decided NOT to trade my LTP account today. Also contributing to this decision was the lower total volume on CL for the day at that point. I have just been watching the price action today and paper trading (not even sim trading).

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  #240 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Sick - Little sleep - Before doing any part of my morning prep I glanced at the charts and tried to catch a bottom. Why? I don't know! So stupid! I did it last week too. Before I knew it I was about $850 down. Finally, I stopped trading and took a break but even after returning I was never in sync with the market. The two best setups that I saw missed getting filled by 1 tick.

My real problem today was that I kept trying to trade what I thought should happen instead of what the market was saying would happen. At one point, I almost got back to break even and then ended up about $1,000 down. By the end of the trading day I did manage to micro scalp my way back to plus territory but with commissions I figure I am about $100 down. I will post my trade report later.

What did I learn?
  • I need a good night's sleep
  • I don't trade well when I am sick - I am just not mentally there
  • Absolutely, MUST do my morning routine before ever even thinking about entering any trades
  • Overtrading is mentally exhausting

Unfortunately, I already knew all those things or at least I thought that I did. If I really knew them I wouldn't be committing the same mistakes again. I need to do some self-examination and apply some strict discipline to my trading.

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  #241 (permalink)
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
 
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Posts: 948 since Feb 2013
Thanks: 2,162 given, 2,063 received


BoltTrader View Post
Sick - Little sleep - Before doing any part of my morning prep I glanced at the charts and tried to catch a bottom. Why? I don't know! So stupid! I did it last week too. Before I knew it I was about $850 down. Finally, I stopped trading and took a break but even after returning I was never in sync with the market. The two best setups that I saw missed getting filled by 1 tick.

My real problem today was that I kept trying to trade what I thought should happen instead of what the market was saying would happen. At one point, I almost got back to break even and then ended up about $1,000 down. By the end of the trading day I did manage to micro scalp my way back to plus territory but with commissions I figure I am about $100 down. I will post my trade report later.

What did I learn?
  • I need a good night's sleep
  • I don't trade well when I am sick - I am just not mentally there
  • Absolutely, MUST do my morning routine before ever even thinking about entering any trades
  • Overtrading is mentally exhausting

Unfortunately, I already knew all those things or at least I thought that I did. If I really knew them I wouldn't be committing the same mistakes again. I need to do some self-examination and apply some strict discipline to my trading.

coming back twice from deep draw downs is positive in its own right. Well done!

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  #242 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Here is the Live Trader Preparation report for today:

Crude (CL)


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  #243 (permalink)
 pipandrun 
Krabi Thailand
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NT, CQG
Trading: MES
 
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BoltTrader View Post

My real problem today was that I kept trying to trade what I thought should happen instead of what the market was saying would happen. At one point, I almost got back to break even and then ended up about $1,000 down. By the end of the trading day I did manage to micro scalp my way back to plus territory but with commissions I figure I am about $100 down. I will post my trade report later.

What did I learn?
  • I need a good night's sleep
  • I don't trade well when I am sick - I am just not mentally there
  • Absolutely, MUST do my morning routine before ever even thinking about entering any trades
  • Overtrading is mentally exhausting

Unfortunately, I already knew all those things or at least I thought that I did. If I really knew them I wouldn't be committing the same mistakes again. I need to do some self-examination and apply some strict discipline to my trading.

What do you mean with that? What have you done?

Waiting, Discipline and Patience Pays!
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  #244 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Took 2 small LONG losses at low of channel. After the first loss, I kept my stop too tight on the 2nd entry and was stopped out. 3rd trade was a winner. Down about $130

Crude (CL)


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  #245 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Looking at entry for leg 2 (usually a measure moved). However, I waited for confirmation on the entry, put a limit order on, but it didn't pull back far enough too fill me before taking off.

Crude (CL)


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  #246 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Big mess up on connection this morning and I have been on the phone with TopStep Trader. They closed out my orders but they were still showing on my chart. So they had me close NT and reopen. When I closed my connection it showed me still having open orders actually more than I placed. Then when I opened NT again it showed everything closed and my balance at -$50. However, I actually have no idea where I am at and what happened on my trades.

I have to leave to take my niece to school. Will check back with them when I return.

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  #247 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
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Posts: 532 since Jul 2014
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Called TST and am waiting to hear back from them. As a result, I passed on this trade.

Crude (CL)


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  #248 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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pipandrun View Post
What do you mean with that? What have you done?

I traded when NOT mentally sharp and mentally prepared. In my opinion, you need to do your morning prep which includes knowing where the market is and what it is doing. Without this you have no plan and just end up gambling. At the very minimum you should have a trading bias and then have ideas in your mind of areas where you want to be looking to enter short and long.

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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Posts: 532 since Jul 2014
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I am going to start trading pretty soon. Here is another missed trade while waiting to hear back from TST.

Crude (CL)


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  #250 (permalink)
 pipandrun 
Krabi Thailand
 
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BoltTrader View Post
I traded when NOT mentally sharp and mentally prepared. In my opinion, you need to do your morning prep which includes knowing where the market is and what it is doing. Without this you have no plan and just end up gambling. At the very minimum you should have a trading bias and then have ideas in your mind of areas where you want to be looking to enter short and long.

Thanks. I understand. I mean, what do you do when you´ve said: "I did manage to micro scalp my way back"
This sounds interesting, like a "secret weapon" helping you out of a desaster......

Waiting, Discipline and Patience Pays!
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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
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Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

TopStep Trader called and I am good to go. I had one more setup while on the phone with them. I am wondering if this move will finally reach the measured moved target (If I have it right on my charts).

Crude (CL)


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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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pipandrun View Post
Thanks. I understand. I mean, what do you do when you´ve said: "I did manage to micro scalp my way back"
This sounds interesting, like a "secret weapon" helping you out of a desaster......

No - It just means that rather than letting price go to whatever target I am aiming for, I am more aggressive in closing the trade and taking smaller profits - If price begins to go against me then I am quick to close the trade. A little profit is better than adding to an already negative balance. In essence, I just chip away at the negative balance until I am positive again. Plus 5 or plus 6 with 3 contracts is $150 to $180 dollars towards that goal. Hope that helps!

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  #253 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Posts: 532 since Jul 2014
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Decided to go against my trade bias on a failed 2nd entry long. It went within 1 tick of reaching my target and turned. I should have tightened up my stop. I wasn't quick enough to enter long and missed the proper trade setup.

Crude (CL)


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 BoltTrader 
Market Wizard
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A lot of resistance. No follow through. 1st target reached. Stopped out at -2 ticks with a strong reversal candle.

Crude (CL)


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  #255 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Got aggressive. Candle showed failure with a long wick and only a few ticks before candle completion. So I entered short. You know the rest. The candle closed up for a strong entry signal stopping me out. This is my 2nd trade against bias that has failed and my 2nd long entry missed because I took the foolish counter-trend trade.

Crude (CL)


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 BoltTrader 
Market Wizard
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Posts: 532 since Jul 2014
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Hoping the afternoon session will bring some action. No more trading until we are out of this sideways congestion.

Crude (CL)


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  #257 (permalink)
 BoltTrader 
Market Wizard
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Once again I thought for sure I knew what the market was going to do and so I traded that instead of what the chart was screaming at me. I kept looking for a completion of that measured move long and it never happened. So when price broke out of that range downward I kept thinking seller trap. A new bearish channel developed and I should have been trading short. Instead, I ignored what the chart was saying and took the long entries. End result $980 down plus commissions so probably about $1,100 down altogether. I will post my report later.

Tomorrow, a new day! However, until I am back in the grove again. I will only be trading 2 contracts instead of 3. Have a great day all!

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  #258 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Sorry, I didn't get this posted last night and didn't show any trades today. I was focused on ironing out my trading! I tried some trades last night but they didn't work out so I was in the hole when I woke up this morning. However, I did recover most of what I lost yesterday. My plan for the next few days is to take screen shots and then post them later in morning or afternoon and as always post my trade report in the evening. I had to spend some time reviewing materials and talk with my teacher/coach to figure out how I got so messed up. He was a great help and I think I am back on track again. However, I intend to be a little more conservative. I don't want any more days like yesterday. Here is the report:

Crude (CL)


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  #259 (permalink)
 BoltTrader 
Market Wizard
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I just got home and found out how lucky I was today. I was only trading 1 and 2 contracts and I struggled a little but I reached my goal and thought I was done. I continued trading thinking that I was in my sim account. It turns out I wasn't! Still ended up positive overall but not where I wanted to be. It definitely looks like I over traded. I am not sure how I made such a big mistake. I have done this before but usually I am in my sim account thinking that I am trading in my live account. As a result, I have I made verifying my account a part of my morning routine. I am going to have to be much more careful in the future. Here is the report for today:

Crude (CL)


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 lemons 
Market Wizard
Tallinn, Estonia
 
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BoltTrader View Post
I had to spend some time reviewing materials and talk with my teacher/coach to figure out how I got so messed up. He was a great help and I think I am back on track again.

Care to share the best, the most interesting tips&tricks that you have learned from your teacher/coach ?

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  #261 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
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Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
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We have been in congestion this morning so far. I have been trading SHORT with my initial trade bias. Here is the picture of the trades. (Yellow Bar = Entry / Red Bar = Stop / Green Bar = Target) I am only using T1s of +11.

Crude (CL)


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  #262 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Posts: 532 since Jul 2014
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I decided to quit early and take my profits. Account switched to Sim and verified. I will post my trade report later today.

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  #263 (permalink)
 BoltTrader 
Market Wizard
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lemons View Post
Care to share the best, the most interesting tips&tricks that you have learned from your teacher/coach ?

Really, all I can say is that his way of looking at the market with the price action cycle and specifically his entry techniques have really helped me a bunch. I am still trying to make it all mine and get rid of my bad habits that I have acquired over time.

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 BoltTrader 
Market Wizard
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Posts: 532 since Jul 2014
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Here is my trade report for the day:


Crude (CL)



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  #265 (permalink)
 BoltTrader 
Market Wizard
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Such a wonderful day for trading and I couldn't or chose not to trade due to connectivity issues again. I have had high speed Internet with Cox Communications for years now but for some reason I have been having loss of connection problems recently. I spoke with Cox Communications today and they will have a rep out tomorrow morning sometime between 10:00 am and noon.

As much as I want to trade in my LTP account, I won't until I know what is going on. Until then I am paper trading!

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  #266 (permalink)
 bd92154 
San Diego
 
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BoltTrader View Post
Such a wonderful day for trading and I couldn't or chose not to trade due to connectivity issues again. I have had high speed Internet with Cox Communications for years now but for some reason I have been having loss of connection problems recently. I spoke with Cox Communications today and they will have a rep out tomorrow morning sometime between 10:00 am and noon.

As much as I want to trade in my LTP account, I won't until I know what is going on. Until then I am paper trading!

These are just some thoughts and observations I have found with COX. You probably already know all these tips and tricks but who knows.

I too have Cox High Speed Internet. I find that rebooting the system once a week helps me keep flow through my router and cable modem. Also having the biggest, baddest, fastest, Modem, Router, and CAT Cable you can find helps too. It may be psychological, but when I went to CAT 7 cable from CAT 5 years ago I noticed a nice speed bump. Also COX has several levels of service, I am sure you are probably paying for their premium along with the wires plan. The last place to look is at your computer to make sure all the hard ware and software for networking is installed properly. Having a good UPS unit for power to my computer and modem helps. My router is too far away from my UPS to do that with as well otherwise it too would be on my UPS.

Good luck. Hope that all gets fixed for you soon.

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  #267 (permalink)
 BoltTrader 
Market Wizard
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bd92154 View Post
These are just some thoughts and observations I have found with COX. You probably already know all these tips and tricks but who knows.

I too have Cox High Speed Internet. I find that rebooting the system once a week helps me keep flow through my router and cable modem. Also having the biggest, baddest, fastest, Modem, Router, and CAT Cable you can find helps too. It may be psychological, but when I went to CAT 7 cable from CAT 5 years ago I noticed a nice speed bump. Also COX has several levels of service, I am sure you are probably paying for their premium along with the wires plan. The last place to look is at your computer to make sure all the hard ware and software for networking is installed properly. Having a good UPS unit for power to my computer and modem helps. My router is too far away from my UPS to do that with as well otherwise it too would be on my UPS.

Good luck. Hope that all gets fixed for you soon.

Appreciate the suggestions and help! Thank you.

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  #268 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

It was a good thing that I had Cox come out today. For some reason all the signals to our house (phone, cable & Internet) were below the expected levels. Time will tell if whatever they did to improve the situation will resolve my Internet connection issues. Trade wise I was just off and am glad to be positive for the day.

Here is today's trade report:

Crude (CL)


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  #269 (permalink)
 BoltTrader 
Market Wizard
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I went ahead and entered a trade with 2 contracts this evening. However, since entering price has not moved in any direction. The risk is small enough that I am going to let it run its course. Stop: -7 Target: +10.

Crude (CL)


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  #270 (permalink)
 BoltTrader 
Market Wizard
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After price moved +9 ticks and tested that price point 3x without going to +10 ticks I moved my stop to +2 ticks to prevent the possibility of this turning into a losing trade.

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 BoltTrader 
Market Wizard
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Price hit my target, filled and then reversed to my stop location. 2 contracts @ +10 ticks! Nice to be able to wake up tomorrow being in the positive.

Crude (CL)


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 BoltTrader 
Market Wizard
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No one seems to want to take control. Every time I think I know the direction we are going it changes. 2nd entries keep failing. Trades I really wanted to enter on I couldn't because of both opens (CL and Emini). My plus $200 from last night vanished and I was in the hole. I just managed to dig myself out and we are still in a range but my current bias is to the down side. I think I am about $75 to the positive after commissions. I will check later. High impact news in a few minutes and we are not far from the CL inventories report. I just took a 2nd entry long failure for a very quick scalp. I should be back above $200.

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  #273 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Updated my chart. Here is the perfect setup only problem is that trade kicked in right at CL Inventories Report.

Missed Trade
Crude (CL)


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  #274 (permalink)
 BoltTrader 
Market Wizard
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I cannot believe I blew Live Trader Preparation in one day! Totally unreal! I am still in shock at how I shot myself in the foot. Let's see what I did wrong today:
  • I didn't FOLLOW my rules
  • I didn't take a break after 2 losing trades
  • I didn't quit trading when I reached my Daily Loss Limit
  • I didn't monitor my situation closely so I would know when I MUST absolutely stop
  • I didn't follow my trade plan
  • I didn't wait for trade confirmation before entries
  • I didn't revisit my SNIPER MINDSET through the day
  • I actually tried to catch the bottom multiple times and then I tried catch the top (STUPID)
  • Overtraded...

I am just waiting to hear from TopStep Trader but back to the Combine I go and rightly so. It's time for me to LEARN from my mistakes NOT just to be aware of them BUT to truly change them and get back to Live Trader Preparation as soon as possible. The one positive note for the day is that I know I can do it!

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  #275 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Trading in simulation today. Here is my first trade for the new day:

Crude (CL)


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  #276 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
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Posts: 532 since Jul 2014
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Trade 2 was a counter trend w/3 contracts for +8 each. Based on the end of leg 1, channel break, 1st entry long. I reduced profit target to +8 because of being a counter-trend trade.

Crude (CL)


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  #277 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I elected NOT to take the best trade of the day because of doji, 1st entry short, and anticipation of channel break. I should have taken the chance knowing this was a minor channel not a micro channel and we sell the HIGHS of the channel with acceptable entry setup.

Crude (CL)


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johnsontroy8
miami/usa
 
 
Posts: 14 since Jul 2014
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Love your work! Good luck

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  #279 (permalink)
 Scalpingtrader 
Hanover, Germany
 
Experience: Beginner
Platform: NinjaTrader
Trading: ES
 
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Posts: 1,868 since Apr 2014
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Take the time to find the Trigger for that behaviour, before jumpend right back in.
You are accurate in what you did wrong but fail to search for WHYyou did what you did.
Awareness of trigger is key IMHO.

Good luck with the next round!


BoltTrader View Post
I cannot believe I blew Live Trader Preparation in one day! Totally unreal! I am still in shock at how I shot myself in the foot. Let's see what I did wrong today:
  • I didn't FOLLOW my rules
  • I didn't take a break after 2 losing trades
  • I didn't quit trading when I reached my Daily Loss Limit
  • I didn't monitor my situation closely so I would know when I MUST absolutely stop
  • I didn't follow my trade plan
  • I didn't wait for trade confirmation before entries
  • I didn't revisit my SNIPER MINDSET through the day
  • I actually tried to catch the bottom multiple times and then I tried catch the top (STUPID)
  • Overtraded...

I am just waiting to hear from TopStep Trader but back to the Combine I go and rightly so. It's time for me to LEARN from my mistakes NOT just to be aware of them BUT to truly change them and get back to Live Trader Preparation as soon as possible. The one positive note for the day is that I know I can do it!


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  #280 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I was away from the computer and missed several great setups BUT I wasn't going to miss this one. Entered with 3 contracts, initial stop of -10 moved to -5 and target filled of +10 ticks.

Crude (CL)


I would quit here for the day if I was in the Combine right now.

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  #281 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received


Scalpingtrader View Post
Take the time to find the Trigger for that behaviour, before jumpend right back in.
You are accurate in what you did wrong but fail to search for WHYyou did what you did.
Awareness of trigger is key IMHO.

Good luck with the next round!

You are so correct. I spent yesterday afternoon and early evening reflecting and then discussed what happened with my wife to get her honest input as to why I did what I did. She knows me well. As a result, I have taken several steps today to help before I started trading.

Thank you for your good advice!

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  #282 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Here is the Trade Results for the day:

Crude (CL)


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  #283 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

First day in a new Combine. Below is my morning prep chart, and the first two trade signals that I passed on because of NFP News at 8:30 am EST:

Crude (CL)






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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I have switched to Sim because of missing the next 2 trades and have to leave in a few minutes to take my daughter to school. Her ride cancelled at the last minute and she missed the bus. Also, it is NFP Friday and I anticipate a slow afternoon but I will check the market when I get back.

Crude (CL)


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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Before leaving I updated my channels due to price action. Here is where I am at:

Crude (CL)



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  #286 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Returned in time to take this LONG trade with 3 contracts for +10 ticks each.

Crude (CL)


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  #287 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Passed on 2 trades because of uncertainty then took a LONG with 3 contracts for +10 ticks each at the 2nd ES SHORT failure point on a limit order fill with a strong bull candle.

Crude (CL)


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  #288 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

On 2nd ES LONG failure I waited for price to retrace instead of using Sell Stop Limit. Price hit my order but didn't fill and when that bar closed I cancelled the order.

Crude (CL)


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  #289 (permalink)
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
 
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nice trading!

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  #290 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I messed up on this one. I entered on a 2nd ES SHORT FAILURE but by accident I entered with 4 contracts when I meant to select 2. As soon as I noticed that, I immediately moved my target to +6 to exit the trade. Overall, a good 1st day for the Combine.

Crude (CL)


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  #291 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Here is the Ninja Trader Report for Day 1 in the Combine. I will post the official TST Report sometime tonight:

Crude (CL)


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 KahunaDog 
Hawaii at the beach
 
Experience: Beginner
Platform: Nt8, MotiveWave, TOS
Broker: S5
Trading: ES, ZB fine alcohol and muscle cars
 
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Thanks: 1,136 given, 397 received


BoltTrader View Post
I cannot believe I blew Live Trader Preparation in one day! Totally unreal! I am still in shock at how I shot myself in the foot. Let's see what I did wrong today:
  • I didn't FOLLOW my rules
  • I didn't take a break after 2 losing trades
  • I didn't quit trading when I reached my Daily Loss Limit
  • I didn't monitor my situation closely so I would know when I MUST absolutely stop
  • I didn't follow my trade plan
  • I didn't wait for trade confirmation before entries
  • I didn't revisit my SNIPER MINDSET through the day
  • I actually tried to catch the bottom multiple times and then I tried catch the top (STUPID)
  • Overtraded...

I am just waiting to hear from TopStep Trader but back to the Combine I go and rightly so. It's time for me to LEARN from my mistakes NOT just to be aware of them BUT to truly change them and get back to Live Trader Preparation as soon as possible. The one positive note for the day is that I know I can do it!

Any thoughts on how you can aor will prevent this from happening again? Stop methods? etc.
Good work on your former combine. Love the updates.

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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Here is today's trade report:

Crude (CL)


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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received


KahunaDog View Post
Any thoughts on how you can aor will prevent this from happening again? Stop methods? etc.
Good work on your former combine. Love the updates.

Oh yes! This may seem surprising but this blow up had nothing to do with the trade plan, risk management and stops. I have all that in place I just didn't think of it or apply it at the moment. I was to wrapped up in what was happening. Tunnel focused. Prideful. This was pure mental and emotional. I have done several things to help me in this area. I don't know if they all would be helpful to others but I know they should be for me. Here are some:
  • I have always been a list person. So one thing I am doing is printing off my morning prep list and checking things off one by one - A "To Do List" but when its on the screen I don't use it as effectively
  • I have also created a ongoing list to use through the day to ensure that I do several things to help prevent this and print it off as well
  • I am in the process of going backwards day by day for the past month and doing morning prep and actual trades until I have a minimum of 6 to 8 trade setups each day and then I stop for that day - I haven't needed the afternoon session yet? Why am I doing this to prove to myself that I don't have to jump into just any trade setup there is always another one around the corner - Specifically, I don't have to jump into a trade when I just get up in the morning.
  • As mentioned before I am covering my screens or have them off so I don't see them when I wake up - Some day when we don't have so many people living with us, I hope to move my office out of the bedroom which should help in this area
  • I have been in a mental fog here for awhile and we think that it might have to do with all the drinks I have through the day which contain aspertame (not sure of spelling) and sucrolose (again not sure). I am too lazy to go and look up the correct spelling. So I am taking them out of my life gradually. Goal now is to get to drinking 1 every 2 to 3 days, then drinking 1 a week and see from there....
There are others but you get the idea. The ongoing list through the day is real helpful.

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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

So far 2 losing trades. It has been a low volume, range bound day with a bunch of bear traps so far. I have been caught in each of them. My first trade was a little aggressive, I took a 1ES SHORT on what I thought was a new developing SHORT Channel. I then missed the 2ES SHORT on that idea which worked for +10 ticks but it was followed by a pullback with a strong SHORT Candle. Anticipating price to drop I entered and was stopped out with a larger stop.

Following my plan I stopped trading and stepped away from the computer. I came back and updated my chart only to see that my short channel did develop and I missed a beautiful 2ES SHORT. However, as beautiful as it was price still hasn't moved down lower, we are stuck in this range. I am done trading until I can see who gets control. Hoping that we don't stay in this range all day but we may for a few hours.

Crude (CL)


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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Ugly Day! Back from another break. I was NOT in the grove today. I passed on what turned out to be the best trade of the day and that was the breakout - retest of the range to the LONG side. Then I couldn't find a good entry signal to get in on that move. Once it reached the measured move and range expansion targets and then overshot the channel I started to look for shorts anticipating a pullback to at least the mid-line of the channel. Unfortunately, I was too aggressive and got stopped out on 2 trades a 2nd entry long failure and what I thought was a failed breakout to the upside which turned out to be another breakout - retest of the range. I don't know what I was thinking on that 2nd trade that is not even one of my trade entry signals. I should have entered long there. Price then peaked and of course started its way back to the mid-line. Unfortunately, as price was pulling back a super strong bull candle appeared right off my major moving average so I entered a trade to the long side looking for price to retest the highs. You guessed it! I was stopped out again this time but only with 1 contract. 5 losing trades in a day and I am done in accordance with my plan. I was also very close to my personal daily loss limit of $1,500. I did forget to switch to trading 1 contract once I exceeded a $1,000 in losses. I did so on my last trade though. My new personal daily loss limit until I recover from today's losses will be $600 (2 losing trades with 3 contracts). After I have recouped my losses and am back positive my personal daily loss limit will jump up to $900 and go no higher for the remainder of the Combine. I will post a picture a little later.

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  #297 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

The more I look at this I was really making bad decisions today.

Crude (CL)


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  #298 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

1 small loser on 2ES Short that I closed when saw it going against me. Stepped away for restroom and missed same trade that went to target. 1 winner. 1 counter-trend winner for +6.

Crude (CL)


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  #299 (permalink)
 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Low Volume is making this tough right now. 1 loser for -5 tick per contract. 1 winner for +11 ticks per contract.

Crude (CL)


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 BoltTrader 
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I blew my continuous combine by over-trading and returning to that mental fog. So, I stepped away from everything related to trading for a couple days. It actually was a very good idea. However, I wanted to get my feet wet again so to speak before the weekend with 1 positive trade. The only problem was early today when I was able to be in front of the computer price was stuck in congestion. A setup occurred just as I had to get ready to leave for my daughter's honors ceremony at school but didn't want to enter the trade because I would be away from my computer and home for to long a period, and much can happen during that time. When I returned I examined the charts and saw that price had reached T2 but price had not yet completed the measured move. I elected to wait since we were so far in the trend to see if price would complete the measured move and give me a possible trade setup for a correction. It did! I took the trade at the early stages of a correction but didn't enter right on the entry signal but instead waited for confirmation. It cost me a few ticks but figured it was worth it to wait since this was an aggressive trade and I didn't want to have my 1 trade be a loser. The trade had a 1:1 risk to reward ratio. My initial stop was -15 ticks, I quickly moved it to -6 ticks and then when a price bar completed with a small wick 1 tick from my target I moved my stop to +1 to be in a risk free trade. My target for the trade was 1 tick before the 43.19 (the fib target 2 and initial target from candlesticks) for +14 ticks per contract. I traded 3 contracts and was expecting price to test the 45.38 level but I didn't want to ride the trade out that long especially being later in the day on a Friday. It's good to be back in the saddle again! Have a great weekend!

Crude (CL)


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