Tap In's Corner (Page 24) - Trading Journals | futures.io
futures.io futures trading
 

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Trading Journals


Tap In's Corner
Started:November 23rd, 2014 (09:08 PM) by Tap In Views / Replies:34,324 / 839
Last Reply:October 13th, 2016 (09:57 AM) Attachments:1,597

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike
     

Reply
 1,597  
 
Thread Tools Search this Thread

Tap In's Corner

Old May 16th, 2015, 02:53 PM   #231 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

5/15/15 Friday

5/15/15 Friday
Live Trades: 1
Day’s P/L: -$3.00

Trade 1, ZN: Total Reasonable Movement -1, +16. Exit at 0t. Moved stop to BE after 3 ticks. Counted on it not coming back.

Fairly slow day in the markets. Marked 4 areas and took one live trade.

Marker and trade results:
-3 winners at minimum of 2R
-0 losers
-2 BE

Attached Thumbnails
Tap In's Corner-2015-05-16_cl_summary.png   Tap In's Corner-2015-05-16_gc_summary.png   Tap In's Corner-2015-05-16_ng_summary.png   Tap In's Corner-2015-05-16_nq_summary.png   Tap In's Corner-2015-05-16_6e_summary.png   Tap In's Corner-2015-05-16_zn_summary.png  
Reply With Quote
     
The following user says Thank You to Tap In for this post:
     

Old May 16th, 2015, 03:40 PM   #232 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

Weekly Summary 5/11/15 to 5/15/15

Weekly Summary 5/11/15 to 5/15/15
Live Trades: 4, 2 winners, 2 losers
Week’s P/L: $103.78

Starting balance for the week: $2772.30
Withdrawals for the week: $0
Deposits for the week: $0
Ending balance for the week: $2876.08

Beginning account balance from first live trade on 3/10/15: $3000.00
Total Withdrawals: $0
Total Deposits: $0
Total Gains/losses from 3/10/15: -$123.92

Marker activity was good for the week:
14 winners at a minimum of 2R
11 losers at -1R
6 that got to 1R and came back to BE.

Takeaways from the week:

-It is possible, but not ideal, to trade 6 instruments on one laptop. Required some simplification of platform
-Continue to be mindful of TL BO failures and fading them. These are often the best trades because they have trapped traders
-On GC be mindful of congestion that continues to make lower highs or higher lows. These are often followed by swift moves. The trick is the timing.
-I am finding that I need to let NQ have a retracement after a TL break because these retracements will often be more than my 15 tick comfort zone.
-Continue to be mindful of NQ opening traps. Good trade opportunities.
-I was 1 tick from having a good week (GC long trade on Monday). I just need a couple of these to get some wiggle room.
-There are so many really good trade opportunities every day. There is no need to press anything or “look” for trades. Let trades present themselves with all the pomp and circumstance that a good trade should.

Unfortunately all stats are stored locally on Sierra Charts so I have attached two stat sheets, one from the laptop activity and one from the desktop activity.

Attached Thumbnails
Tap In's Corner-2015-05-16_weekly_account_summary.png   Tap In's Corner-2015-05-16_weekly_stats_-1.png   Tap In's Corner-2015-05-16_weekly_stats_-2.png  
Reply With Quote
     
The following user says Thank You to Tap In for this post:
     

Old May 17th, 2015, 05:58 PM   #233 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

TRM spreadsheet


Attached is a simple spreadsheet I use to track the quality of my judgement in picking trade areas.

During the trading day I will either take a live trade or place a marker in real time where I believe a viable set up has formed. The markers are used in lieu of sim so the platform does not have to be switched back and forth. It is not perfect but it works well enough.

I will place markers when a set up occurs in which I have a strong feeling, but am not 100% committed to risking money. Rather than just let the trade go with little to show for it, a marker is placed in real time as if the trade were taken. The markers are the thin red and blue arrows posted on the charts every day. The thick arrows are placed in hindsight and are not included in this exercise.

I will then track price’s progress from that marker for the remainder of the day. The results of the reasonable movement of price from both the markers and actual trades are logged in the spreadsheet at the end of the day. I can then look back over time to gauge the quality of my judgement and what “might have been” had I taken, and stayed with, all the set ups.

The term Total Reasonable Movement (TRM) describes price’s movement from the entry point, for and against. This is different from MFE or MAE in that movement is tracked for the remainder of the day whether or not I am in the trade. TRM is how far price travels before encountering an extreme pull back relative to the movement preceding it. Admittedly, there is a bit of judgement in determining reasonable movement. I like to track how far price moves against me also, in order to gauge whether I was looking at the market from the correct side.

As of this writing I have taken or marked 71 trade areas since starting this spreadsheet on 5/4/15:

25 reached at least +2R (often much further)
25 hit -1R
21 got to +1R and returned back to entry for BE.

This is all part of the process of building confidence in one's methodology, while remaining flexible to take advantage of those special moments when the market screams for a live trade

Attached Thumbnails
Tap In's Corner-2015-05-17_trm_spreadsheet.png  
Reply With Quote
     
The following user says Thank You to Tap In for this post:
     

Old May 18th, 2015, 04:17 PM   #234 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

5/18/15 Monday

5/18/15 Monday
Live Trades: 0
Day’s P/L: 0

No trades, thank goodness. Slow moving day, not much ground covered. My read of the market was off. CL data was down for most of the day.

Marked three areas, all would have been losers. There were other opportunities, but the three marked were attempts at reversals. Not bad areas, but with the trend was the way to go today. The lack of energy in the markets threw me off.

Attached Thumbnails
Tap In's Corner-2015-05-18_cl_summary.png   Tap In's Corner-2015-05-18_gc_summary.png   Tap In's Corner-2015-05-18_ng_summary.png   Tap In's Corner-2015-05-18_nq_summary.png   Tap In's Corner-2015-05-18__6e_summary.png   Tap In's Corner-2015-05-18_zn_summary.png  
Reply With Quote
     
The following user says Thank You to Tap In for this post:
     

Old May 19th, 2015, 09:53 PM   #235 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

5/19/15 Tuesday

Futures Edge on FIO
5/19/15 Tuesday
Live Trades: 1
Day’s P/L: -$4.60

One trade in NG. Didn’t go very far and stopped me out at BE. Smart move as it quickly reversed.

Good trending in a few instruments. I definitely have a problem believing the trends will continue, and thus miss many opps.

Marker results:
2 wins
3 losses
4 BE

Attached Thumbnails
Tap In's Corner-2015-05-19_cl_summary.png   Tap In's Corner-2015-05-19_gc_summary.png   Tap In's Corner-2015-05-19_ng_summary.png   Tap In's Corner-2015-05-19_nq_summary.png   Tap In's Corner-2015-05-19_6e_summary.png   Tap In's Corner-2015-05-19_zn_summary.png  
Reply With Quote
     
The following 2 users say Thank You to Tap In for this post:
     

Old May 22nd, 2015, 12:39 AM   #236 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

5/20/15 Wednesday

5/20/15 Wednesday
Live Trades: 0
Day’s P/L: 0

No trades.

Marker results:
2 losses
2 BE

Reply With Quote
     
The following user says Thank You to Tap In for this post:
     

Old May 22nd, 2015, 12:41 AM   #237 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

5/21/15 Thursday

5/21/15 Thursday
Live Trades: 0
Day’s P/L: 0

No trades

Marker Results:
2 wins
1 BE

Attached Thumbnails
Tap In's Corner-2015-05-21_cl_summary.png   Tap In's Corner-2015-05-21_gc_summary.png   Tap In's Corner-2015-05-21_ng_summary.png   Tap In's Corner-2015-05-21_nq_summary.png   Tap In's Corner-2015-05-21_6e_summary.png   Tap In's Corner-2015-05-21_zn_summary.png  
Reply With Quote
     
The following user says Thank You to Tap In for this post:
     

Old May 22nd, 2015, 04:26 PM   #238 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

5/22/15 Friday

5/22/15 Friday
Live Trades: 1 winner
Day’s P/L: +$75.12

One trade. Another good day of set ups and identifying set ups. The future me, as a confident trader, would have made $1000 by 6:00am today. As it is I can only dream of what might have been.

Marker and trade results:

3 winners
1 BE

More annotations on the charts today. I am going to try and do more of this to better detail my thought processes.

Attached Thumbnails
Tap In's Corner-2015-05-22_cl_summary.png   Tap In's Corner-2015-05-22_gc_summary.png   Tap In's Corner-2015-05-22_ng_summary.png   Tap In's Corner-2015-05-22_nq_summary.png   Tap In's Corner-2015-05-22_6e_summary.png   Tap In's Corner-2015-05-22_zn_summary.png  
Reply With Quote
     
The following 3 users say Thank You to Tap In for this post:
     

Old May 25th, 2015, 09:37 PM   #239 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

Weekly Summary 5/18/15 to 5/22/15

Weekly Summary 5/18/15 to 5/22/15
Live Trades: 2, 1 winner, 1 loser
Week’s P/L: $70.53

Starting balance for the week: $2876.08
Withdrawals for the week: $0
Deposits for the week: $0
Ending balance for the week: $2946.61

Beginning account balance from first live trade on 3/10/15: $3000.00
Total Withdrawals: $0
Total Deposits: $0
Total Gains/losses from 3/10/15: -$53.39

Summary of marker and trade activity:
23 marked or traded set ups
7 areas that reached 2R or more
8 areas that hit the stop at -1R
8 areas that got to 1R then came back to entry for B.E.

Marker and trade activity wasn’t as good as I would like but still shows an edge, with 15 of 23 trades getting to 1R before -1R and 7 of those getting to at least 2R and beyond.

Still not taking enough trades. I need a day or two of decent production to get some breathing room. The edge is there but I can’t fully take advantage of it since it often involves 4 or 5 losses in a row before the wins kick in.

Being picky and waiting for the best is definitely putting the odds in my favor. Over the past 20 live trades, price has gotten to +1R before -1R 85% of the time, and +2R 60% of the time. Unfortunately, I have not held many of these long enough to get full benefit, and the opportunities that feel really good are few and far between. Taking more trades would build my account faster but would be accompanied by a lower win rate and more losses. It is a balancing act I have to deal with until I get a larger account. First though, I have to take full advantage of the few trades I do choose every week.

My method relies heavily on judgement in the moment. The decision to mark, trade or pass is a set-up by set-up affair. I pass on many trades that meet all criteria. Sometimes they fail, supporting my decision, and sometimes they work beautifully, causing regret. I would like to be able to trade without having to make these gut feel decisions but I am not sure I can get my rules specific enough to do so. Over the next period I am going to fully test my rules by marking a lot more trades areas. I will still use the blue and red arrows to signify areas that I have more confidence in. I will use black arrows to mark areas that meet my criteria but that I am ambivalent about.

Attached Thumbnails
Tap In's Corner-2015-05-24_weekly_account_balance.png   Tap In's Corner-2015-05-24_weekly_account_summary.png  
Reply With Quote
     
The following 2 users say Thank You to Tap In for this post:
     

Old May 26th, 2015, 04:19 PM   #240 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 910 since Feb 2013
Thanks: 2,063 given, 1,849 received

5/26/15 Tuesday


5/26/15 Tuesday
Live Trades: 0
Day’s P/L: 0

No trades. Marked more areas with black arrows in real time (thin). Black arrows simply mean that the set-up meets my criteria but I am not committed to either trade it or mark it with colored arrows for stats purposes. Interestingly, the black marked areas did quite well with 6 winners, 3 losers, 3 BE.

Colored marker results for stats:
2 BE

Pleased that the method continues to show promise

No chart for NG today as it was down for some reason.

Attached Thumbnails
Tap In's Corner-2015-05-26_cl_summary.png   Tap In's Corner-2015-05-26_gc_summary.png   Tap In's Corner-2015-05-26_nq_summary.png   Tap In's Corner-2015-05-26_6e_summary.png   Tap In's Corner-2015-05-26_zn_summary.png  
Reply With Quote
     
The following 2 users say Thank You to Tap In for this post:
     

Reply



futures.io > Futures Trading, News, Charts and Platforms > Trading Journals > Tap In's Corner

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

NinjaTrader 8: Features and Enhancements, Tips and Tricks

Dec 6
 

Al Brooks: Stop Losing when a Good Trade goes Bad, Correcting Mistakes

Elite only
 

Trading Technologies: Algo Design Lab hands-on

Dec 13
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
.....Germany says further steps needed before banks tap ESM kbit News and Current Events 0 September 15th, 2012 04:14 PM
Are US Jobs Recovering? 'We Turned the Corner Months Ago' Quick Summary News and Current Events 0 December 22nd, 2011 02:50 PM
Did Markets Know Obama Would Tap Oil Reserve? Quick Summary News and Current Events 1 July 6th, 2011 08:20 PM
Oil Will Steer Stocks, but Jobs Report and Bernanke on Tap Quick Summary News and Current Events 0 February 26th, 2011 01:20 AM
Mortgage Delinquencies Are Starting to Turn the Corner Quick Summary News and Current Events 0 February 17th, 2011 08:50 PM


All times are GMT -4. The time now is 08:25 AM.

Copyright © 2016 by futures.io. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
 
no new posts

Page generated 2016-12-07 in 0.18 seconds with 20 queries on phoenix via your IP 54.163.173.253