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Tap In's Corner

  #341 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

8/27/15 Thursday
Live Trades: 1 win
Day’s P/L: $220.98

Managing to pick up some small nuggets as the gold rush continues. One trade today on YM good for 45 ticks. The more I can matriculate the account away from initial investment the more easily I should be able to pull the trigger. At least, that’s what I’m telling myself!

Lots of good opportunities today that were identified in real time as marked by the dots. I believe the day would have been nicely green had I taken them all. The volatility is definitely helping as price doesn’t tend to stick around long, and momentum carries it quite far. Hopefully this action will continue for a while without doing too much damage to the markets.

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  #342 (permalink)
 lancelottrader 
west palm beach florida usa
Market Wizard
 
Experience: Advanced
Platform: ninja trader
Broker: Optimus Futures/ Rithmic
Trading: NQ
Posts: 1,112 since Oct 2011
Thanks Given: 1,113
Thanks Received: 5,386


Tap In View Post
8/27/15 Thursday
Live Trades: 1 win
Day’s P/L: $220.98

Managing to pick up some small nuggets as the gold rush continues. One trade today on YM good for 45 ticks. The more I can matriculate the account away from initial investment the more easily I should be able to pull the trigger. At least, that’s what I’m telling myself!

Lots of good opportunities today that were identified in real time as marked by the dots. I believe the day would have been nicely green had I taken them all. The volatility is definitely helping as price doesn’t tend to stick around long, and momentum carries it quite far. Hopefully this action will continue for a while without doing too much damage to the markets.

It's great seeing you make progress.

Failure is not an option
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  #343 (permalink)
thetamax8
Vancouver, BC
 
Posts: 25 since Sep 2014
Thanks Given: 0
Thanks Received: 17


Great job! I've been following your journal. Congratulations on sticking with it and continuing to post. Love it.

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  #344 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

8/28/15 Friday
Live Trades: 2, 2 wins
Day’s P/L: $165.87

Two trades on ZN today. It is continuing to be my most reliable and comfortable instrument to trade.

Markets much quieter today except for CL. Once again missed a great move on CL. Initially, I couldn’t find a confident entry, then as the trend matured I became more reluctant to give it a go as pull backs got deep and it looked to be turning. One thing to remember is that on strong trend days, deep pull backs are to be expected. Don’t give up looking for opportunities in the direction of trend just because of a deep pull back. At the time it looks like the trend is reversing, and sometimes it does. But, often resumption from a deep pull back comes in the form of a series of higher lows, with progressively smaller pull backs before a new strong break. Pay attention to these before giving up entirely on the move.

I was hoping for a late big move in YM to cap off a nice week. Upon opening the platform I quickly decided there would be no trading until price made a strong move out of what looked like a long, slow correction, preferably to the down side. It never happened so no trades. I can’t help but think the gold rush will resume sometime next week. Be ready.

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  #345 (permalink)
 
ratfink's Avatar
 ratfink 
Birmingham UK
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
Posts: 3,633 since Dec 2012
Thanks Given: 17,423
Thanks Received: 8,425

Methinks the 5-iron's working well and the putts are starting to go in, good week!

Travel Well
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #346 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082


ratfink View Post
Methinks the 5-iron's working well and the putts are starting to go in, good week!

I was hittin' 'em where I was lookin' this week!

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  #347 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

Weekly Summary 8/24/15 to 8/28/15
Live Trades: 14, 7 wins, 7 losses
Week’s P/L: $563.12

Starting balance for the week: $2900.91
Withdrawals for the week: $0
Deposits for the week: $0
Ending balance for the week: $3464.03

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: $464.03

Best week since going live. Volatility was high so there were a lot of opportunities. Marked many areas live, and for the most part the choices were sound. Still struggling with hesitation and doubt but it is getting better. I felt like there was a ton of money left on the table because of it. Just need to keep plugging away and not get too frisky trying to chase big dollars. Slowly build the account cushion and confidence. More decisive trading will result.

One technical note, when an instrument is trending strong like CL has been lately, don’t give up on it just because of a deep pull back. These deep PBs are often opportunities to jump back on board another large move. Look for a series of higher lows in an uptrend to signal resumption. Opposite in a downtrend.

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  #348 (permalink)
 lancelottrader 
west palm beach florida usa
Market Wizard
 
Experience: Advanced
Platform: ninja trader
Broker: Optimus Futures/ Rithmic
Trading: NQ
Posts: 1,112 since Oct 2011
Thanks Given: 1,113
Thanks Received: 5,386


Tap In View Post
Weekly Summary 8/24/15 to 8/28/15
Live Trades: 14, 7 wins, 7 losses
Week’s P/L: $563.12

Starting balance for the week: $2900.91
Withdrawals for the week: $0
Deposits for the week: $0
Ending balance for the week: $3464.03

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: $464.03

Best week since going live. Volatility was high so there were a lot of opportunities. Marked many areas live, and for the most part the choices were sound. Still struggling with hesitation and doubt but it is getting better. I felt like there was a ton of money left on the table because of it. Just need to keep plugging away and not get too frisky trying to chase big dollars. Slowly build the account cushion and confidence. More decisive trading will result.

One technical note, when an instrument is trending strong like CL has been lately, don’t give up on it just because of a deep pull back. These deep PBs are often opportunities to jump back on board another large move. Look for a series of higher lows in an uptrend to signal resumption. Opposite in a downtrend.

Great job. And yes, the volatility does present a lot of opportunities..but you have to still take them....and you did. You are definitely improving. Now the trick will be how to use different strategies on choppier days or weaker days. On those days, I do more waiting and play more reversals at the edges of ranges or failures at support/resistance.

Failure is not an option
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Thanked by:
  #349 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082

8/31/15 Monday
Live Trades: 2, 1 win, 1 loss
Day’s P/L: $161.38

Two trades, one on YM and one on CL. Missed the most part of another epic day on CL. Can’t seem to get myself to trust the set ups there. Someday it will happen and things will open up. I did manage the one trade there after a deeper pullback and higher lows, as referenced in the weekly summary. The other instruments were a little slower. I now have about 4 full stop outs to play with as a cushion and still remain in the money. Intermediate goal is 10 full stop outs cushion ($1500). Admittedly it’s a sick way of looking at it, but it works for me.

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Started this thread Reply With Quote
Thanked by:
  #350 (permalink)
 
Tap In's Avatar
 Tap In 
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
Posts: 948 since Feb 2013
Thanks Given: 2,162
Thanks Received: 2,082



lancelottrader View Post
Great job. And yes, the volatility does present a lot of opportunities..but you have to still take them....and you did. You are definitely improving. Now the trick will be how to use different strategies on choppier days or weaker days. On those days, I do more waiting and play more reversals at the edges of ranges or failures at support/resistance.

Yes, I am still not comfortable with ranges unless they are large enough to play with my current strategies.

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