Tap In's Corner (Page 58) - 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:34,155 / 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 25th, 2016, 01:10 AM   #571 (permalink)
Market Wizard
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: 909 since Feb 2013
Thanks: 2,060 given, 1,845 received
Forum Reputation: Legendary

5/24/16 Tuesday recap

5/24/16 Tuesday
Combine Trades: 2
Day’s P/L: -$7

I could not identify too many good opportunities in real time today. The good news is I entered the best move, just couldn't hold for the the bigger gain. Took one breakout and one pull back trade. One win, one loss.

Once again the opening range was a key support and resistance area.

I am doing well with the pre market blueprint. Need to trust it a bit more and try to get on board my bias.

Attached Thumbnails
Tap In's Corner-2016-05-24_2100__trades.png  
Reply With Quote
     
The following user says Thank You to Tap In for this post:
     

Old May 25th, 2016, 10:12 AM   #572 (permalink)
Market Wizard
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: 909 since Feb 2013
Thanks: 2,060 given, 1,845 received
Forum Reputation: Legendary

5/25/16 blueprint

We are near the year's high again, with a lot of past heavy trading above and below. The macro trend is still up, but considering that price has retraced almost all of the previous resistance areas, we could have a change of direction back to the downside. If it holds above 49.56 it's blue sky for a while.

Right now trading in either direction will require patience. Price will encounter difficulties until there is clear momentum. Look for breakout trades after clear impulse moves, or pull back trades to strong S/R levels, with good potential reward.

I am going to attempt to start categorizing trades in an effort to better determine probabilities of success.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Update: end of day. Price had significant reactions off two areas identified

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Attached Thumbnails
Tap In's Corner-2016-05-25_0546_scenarios.png  

Last edited by Tap In; May 26th, 2016 at 02:38 AM. Reason: Update
Reply With Quote
     
The following 2 users say Thank You to Tap In for this post:
     

Old May 26th, 2016, 02:31 AM   #573 (permalink)
Market Wizard
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: 909 since Feb 2013
Thanks: 2,060 given, 1,845 received
Forum Reputation: Legendary

5/25/16 Wednesday


5/25/16 Wednesday
Combine Trades: 4
Day’s P/L: $395

I was finally able to make and keep some decent gains. Three of the four trades made it to 1R. Two of them made 2R.

Switched to sim after the fourth trade and made more gains experimenting with scaling in to positions. While it was a fun exercise, scaling in will be for the future with a larger account. By the time a full position is on, the risk per trade is just too much.

Attached Thumbnails
Tap In's Corner-2016-05-25_2215_trades.png   Tap In's Corner-2016-05-25_2230_combine.png  
Reply With Quote
     
The following 4 users say Thank You to Tap In for this post:
     

Old May 26th, 2016, 10:09 AM   #574 (permalink)
Market Wizard
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: 909 since Feb 2013
Thanks: 2,060 given, 1,845 received
Forum Reputation: Legendary

5/26/16 blueprint

Continued up move overnight above the year's high.

To the upside: No reason it wont continue up. The difficulty will be choosing a place to get on board. I'll need to wait for either a strong breakout or a return to a previous support area, then continuation.

To the downside. wait for obvious topping action followed by a strong impulse move with energy before considering shorts

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Update, mid morning: had some reactions off the blueprint levels. Now it appears they want to take it to the 49.07 area. My bias long for the morning kept me from getting anything on the down move. May be a no trade day.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Last edited by Tap In; May 26th, 2016 at 12:10 PM. Reason: Update
Reply With Quote
     
The following 2 users say Thank You to Tap In for this post:
     

Old May 27th, 2016, 10:12 AM   #575 (permalink)
Market Wizard
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: 909 since Feb 2013
Thanks: 2,060 given, 1,845 received
Forum Reputation: Legendary

5/27/16 blueprint

Futures Edge on FIO
No trades yesterday.

It is kind of messy on both sides of the equation today. I can see no clear destinations up or down. The trend is down for now but we're at a place it could turn. It'll be important to wait for some obvious action before taking risk.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Update, pre Yellen: price ended up bouncing from the first support level to the first resistance level. Yellen's comments may not do anything but just in case, here are the possibilities:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Last edited by Tap In; May 27th, 2016 at 02:15 PM. Reason: Update
Reply With Quote
     

Old May 28th, 2016, 10:29 PM   #576 (permalink)
grappling dummy
Hawaii at the beach
 
Futures Experience: Intermediate
Platform: Ninjatrader, TOS
Broker/Data: S5
Favorite Futures: ES, fine alcohol and muscle cars
 
KahunaDog's Avatar
 
Posts: 398 since Apr 2013
Thanks: 819 given, 287 received


Tap In View Post
Purpose of this journal: To improve my trading by collating my trades, charts, trade ideas, and trade thoughts into a one-stop-shop for easy review and recording of progress.

Instruments: Various and evolving. Currently CL, GC, NG, ES, NQ

The method:
Look for areas of support and resistance and observe how price reacts around these areas. Watch price action and use order flow tools to gauge market sentiment and take trades as price reverses off of, or continues through these areas.

Three basic elements:
1) Use support/resistance and other tools to create a framework around price. The tools include: Trend lines, Market profile, Pivots, Previous Highs and Lows, Opening Ranges, VWAP, and EMAs.
2) Use order flow tools to provide clues on price’s potential direction and current speed of market. Order Flow Tools include: Cumulative Delta, Time and Sales, DOM, Volume
3) Gut feel based on screen time experience.

As price approaches or lingers around previously identified key areas, watch order flow and ask questions:

Is price reversing or continuing?

What are the obstacles in the way?

For fading impulse moves... ^(exhaustion is a better term)

Dom a wall of orders that does not break down after multiple encroachments and hits

Absorbtion

Rejection

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

Old May 28th, 2016, 10:38 PM   #577 (permalink)
grappling dummy
Hawaii at the beach
 
Futures Experience: Intermediate
Platform: Ninjatrader, TOS
Broker/Data: S5
Favorite Futures: ES, fine alcohol and muscle cars
 
KahunaDog's Avatar
 
Posts: 398 since Apr 2013
Thanks: 819 given, 287 received


Tap In View Post
The secondary screen is on my laptop. It runs on the Think or Swim platform. This is where I look at market profile for each instrument. I like TOS for the grids that can be generated.

I look at the daily profiles in the regular trading hours, focusing mainly on the Point of Contention and the value area low and high. I will take all virgin POC’s and VA’s in the vicinity of current price and mark them on my trading charts for potential pause or turning points.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


I also use extended market profile in various time frames for each instrument and mark my trading chart with areas of confluence or significant high value or low value nodes. This has been very valuable as a heads up for potential pausing and turning points.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

How has this worked?

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

Old May 28th, 2016, 11:19 PM   #578 (permalink)
Market Wizard
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: 909 since Feb 2013
Thanks: 2,060 given, 1,845 received
Forum Reputation: Legendary


KahunaDog View Post
For fading impulse moves... ^(exhaustion is a better term)

Dom a wall of orders that does not break down after multiple encroachments and hits

Absorbtion

Rejection

I have dabbled in this from time to time at clear S/R areas, but it is counter trend, which I tend to stay away from unless I am really confident the trend is over. Going counter trend has rarely worked out well for me.

The key is the "multiple encroachments and hits" which sort negates it as being an impulse move anymore. Now it becomes more of a double top/bottom or lower high/higher low situation. Without that conformation I would tend not to fade it. If I was in a trade in the direction of the impulse, this action might cause me to bail on the trade though. I suppose I could then consider the other direction.

Reply With Quote
     

Old May 28th, 2016, 11:23 PM   #579 (permalink)
Market Wizard
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: 909 since Feb 2013
Thanks: 2,060 given, 1,845 received
Forum Reputation: Legendary


KahunaDog View Post
How has this worked?

Thank you for the thought provoking questions. It is always good to have to think about what you are really trying to do from time to time.

I do not trade directly off of the LVN's or HVN's. Rather, I use them as reference points for anticipated pausing or reversal areas to be aware of. I guess they are all part of the big "soup" of clues I use to figure out where price might be going next.

Reply With Quote
     

Old May 29th, 2016, 12:41 AM   #580 (permalink)
grappling dummy
Hawaii at the beach
 
Futures Experience: Intermediate
Platform: Ninjatrader, TOS
Broker/Data: S5
Favorite Futures: ES, fine alcohol and muscle cars
 
KahunaDog's Avatar
 
Posts: 398 since Apr 2013
Thanks: 819 given, 287 received



Tap In View Post
For the past several months I have been working with order flow tools, specifically footprint and refocusing on cumulative delta, in an effort to better read market context and time entries for maximum probability. I am cognizant of the danger of switching methods too often, but in this case do not think it is a wholesale change from what I have been doing over the past year and a half, but rather a additional tools to hopefully give myself a better chance. My basic analysis and top down processes are the same, as detailed on the summary page of the journal, but I have long felt there was a level of visibility missing from my market analysis that caused decision making to be too random and undisciplined. In short, I have felt my edge was too loosely defined and inadequate to make money consistently over the long haul.

During this time I have focused exclusively on trading oil rather than the six markets I was watching previously.


Do you have any screen shots of the exact or near moment you are entering? Deltas dom footprint other order flow

re - trend vs counter trend
How often does the market trend? When cL does what are the size of the trends? In what time frame?

Reply With Quote
     

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 08:19 PM.

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 2016-12-02 in 0.16 seconds with 20 queries on phoenix via your IP 54.204.130.177