Tap In's Corner (Page 73) - 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:34,273 / 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 September 1st, 2016, 11:22 AM   #721 (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: 910 since Feb 2013
Thanks: 2,062 given, 1,849 received
Forum Reputation: Legendary

trades 1 and 2

Both trades using the same concept. After the news release there was an impulse move above a highly traded area around 44.05. Entered on retraces to areas I thought might stop price.

trade 1:

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


moved in my favor then stalled. Moved to BE because I suspected the news driven impulse might fail. Taken out at BE

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


trade 2 re-entered after price hit the top of the highly traded area and reacted quickly. Looking for the 44.50 area

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


moved to +10t and was taken out. Gave up a lot of ticks trying to get more.

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


tightening stop was the correct move. As suspected, the news driven impulse was a fake.

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

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

Old September 1st, 2016, 11:43 AM   #722 (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: 910 since Feb 2013
Thanks: 2,062 given, 1,849 received
Forum Reputation: Legendary

trade 3

Price bounced off of a stacked RTH POC area at 43.77 ish in an impulsive way. Entered on the pull back to high traded area.

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


price cut deep into the support area, not a good sign. Move to BE at first opportunity. Taken out at BE

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


Move to BE was the correct decision. I was counter trend, no point in sticking around to be taken out at full stop

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

Reply With Quote
     
The following 2 users say Thank You to Tap In for this post:
     

Old September 2nd, 2016, 10:00 AM   #723 (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: 910 since Feb 2013
Thanks: 2,062 given, 1,849 received
Forum Reputation: Legendary

9/2/16 blueprint


Non farm payroll report has created a 70 tick range in a few minutes. In the long term the market is coming off a higher low but it also could just be an ABC correction of a continued down move. There is resistance at the after report high of 44.20 and support below starting at 43.75. Right now it feels like no man's land so I will wait for a reaction of some sort off these S/R areas or a break through them for a continuation play.

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


The blue scenario kind of played out. Price did stop and hold at Wednesdays RTH low. The bounce off of 44.20 surprised me considering the double top at Wednesday's low. I thought we were heading lower.

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; September 3rd, 2016 at 12:38 AM.
Reply With Quote
     

Old September 2nd, 2016, 02:14 PM   #724 (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: 910 since Feb 2013
Thanks: 2,062 given, 1,849 received
Forum Reputation: Legendary

trade 1

Entered on pull back to previous low. Got run over. Tried to get out at BE but never came back.

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

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

Old September 2nd, 2016, 06:35 PM   #725 (permalink)
Market Wizard
Amsterdam, The Netherlands
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
GruttePier's Avatar
 
Posts: 623 since Dec 2013
Thanks: 868 given, 1,923 received
Forum Reputation: Legendary

Futures Edge on FIO

Are you a NinjaTrader user?

 
What are the orange and pink zones you marked on the chart?

How do you like the changes you made recently? Does it feel good, do you see improvement in your expectancy?

I enjoy reading your journal and your progress. Keep it up!


Sent from my iPhone using futures.io mobile app

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

Old September 3rd, 2016, 01:00 AM   #726 (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: 910 since Feb 2013
Thanks: 2,062 given, 1,849 received
Forum Reputation: Legendary


GruttePier View Post
What are the orange and pink zones you marked on the chart?

How do you like the changes you made recently? Does it feel good, do you see improvement in your expectancy?

I enjoy reading your journal and your progress. Keep it up!


Sent from my iPhone using futures.io mobile app

Those are areas that show up on footprint as highly traded prices, over 1000 contracts for the orange boxes and over 2000 contracts for the pink boxes. Like this:

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


They are automatically transferred to my other charts and sometimes this makes them come out looking a little funky.

I think the changes are a better fit for me. My pre-market analysis is decent and in general I like trading levels and pull backs since there is more potential in the trade and I can usually recognize when a trade is going bad. However, I am still struggling with confidence. This is especially true on trend days. I cant seem to get myself to jump on board good moves, always thinking it's too late or that a deep pull back is imminent. If I can get past this issue I think I will be ok. I just need to believe in myself a little more and take more chances on certain days.

Thanks for your interest.

Reply With Quote
     
The following 2 users say Thank You to Tap In for this post:
     

Old September 3rd, 2016, 01:36 AM   #727 (permalink)
Elite Member
manchester, england
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: pfg best
Favorite Futures: oil
 
Posts: 289 since Apr 2011
Thanks: 284 given, 392 received

Taking pull backs in a trend

@Tap In

Hi TP,
I have made minor modifications to you chart to show how you can use you orange zones in a trend to trade the pull back.

From your chart, I can see that price has been above the VWAP during the RTH session, and also, Cum Delta was also going up. This tells me that we are in an 'up trend'. Therefore you should only be looking at taking longs on pull backs. Shorting is counter trend on this chart.

I use the VWAP as my main trend tool - i.e, if price is above, then look for buying pull backs. Opposite for shorts.

You can see how I extend the orange zones to the right and, that is where you could have gone long. The idea is that if price goes up once one of these orange zone has been identified, then, buying has occurred. And that when price returns the first time, you can go long.

If price goes down after one of these occur, then we may assume that selling has taken place. If seen at high of day, then this could set up a counter trend trade. But these may be more difficult to take. Stick to only taking pull backs in a trend.

Obviously, this does not always work, but you will need to do a lot of analysis.

Hope this helps. Modified chart attached.

Regards,

Dudley.

Attached Thumbnails
Tap In's Corner-2016-09-02_1010_trade_1.png  
Reply With Quote
     
The following 2 users say Thank You to mrmuggins for this post:
     

Old September 3rd, 2016, 02:06 PM   #728 (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: 910 since Feb 2013
Thanks: 2,062 given, 1,849 received
Forum Reputation: Legendary


mrmuggins View Post
@Tap In

Hi TP,
I have made minor modifications to you chart to show how you can use you orange zones in a trend to trade the pull back.

From your chart, I can see that price has been above the VWAP during the RTH session, and also, Cum Delta was also going up. This tells me that we are in an 'up trend'. Therefore you should only be looking at taking longs on pull backs. Shorting is counter trend on this chart.

I use the VWAP as my main trend tool - i.e, if price is above, then look for buying pull backs. Opposite for shorts.

You can see how I extend the orange zones to the right and, that is where you could have gone long. The idea is that if price goes up once one of these orange zone has been identified, then, buying has occurred. And that when price returns the first time, you can go long.

If price goes down after one of these occur, then we may assume that selling has taken place. If seen at high of day, then this could set up a counter trend trade. But these may be more difficult to take. Stick to only taking pull backs in a trend.

Obviously, this does not always work, but you will need to do a lot of analysis.

Hope this helps. Modified chart attached.

Regards,

Dudley.

Excellent observation! I was doing more of this a while ago, but was not including price's relationship to the VWAP in the analysis. I'll take another look. Many thanks!

Reply With Quote
     

Old September 3rd, 2016, 05:34 PM   #729 (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: 910 since Feb 2013
Thanks: 2,062 given, 1,849 received
Forum Reputation: Legendary

Monthly Recap August 2016

Monthly Recap August 2016
Live Trades: 0, live account still at $2840.17

August saw me blow out one combine and start another. I am currently up $666 (don't like that number!) in the new combine thanks to the good fortune of my first trade working with 3 contracts. Since then I have just chopped around going nowhere. I traded 59 times in August. Friday the 12th was a particularly bad day where I took 14 trades, mostly against trend to blow out the previous combine. My plan in this latest combine was to pass in the minimum number of days (10) by waiting for great ops and trading 3 contracts. I was either going to pass or blow out quick. There were ample opportunities to get this done but my confidence wavered and I couldn’t get myself to trade with 3 contracts or take the right trades at the right time.

Stats for the month:

Net loss: -$733.44

Trades: 58
Price reached 1R: 25 (43%, compared to 57% in July)
Price reached 2R: 13 (22%, compared to 35% in June)
Price reached 2R while moving stop to BE after 1R: 10 (17% compared to 25% in July)
Price reached 2R while leaving stop alone: 3 (5% compared to 9.5% in July)
Unsuccessful trades that were exited at or near BE: 11 of 31
Successful trades that were exited with almost no profit: 14 of 25
Ticks lost by tightening stop before price hit either 1R or -1R: 115
Ticks saved by tightening stop before price hit 1R or -1R: 103
Net ticks lost by tightening stop too early: 12

Stats were down in August compared to July. Much of this was the result of the three horrible days at the end of the previous combine. Since the new combine started on 8/16 the stats are a little better, with 9 of 18 trades making it to 1R. Still, 50% to 1R is not an edge. I am still struggling to take quality trades, even as I am ahead in the new combine.

As noted in a previous post, part of the problem is that I have tremendous difficultly jumping on board established trends thinking the trend has run its course and is ready for a deep pull back. This fear has caused me to miss out on a lot of opportunity. I can’t be certain because no one really knows how many trades they “should have” taken, but I believe my results would be better if, on those occasions that look obvious, I just held my nose, took the trade, and put the stop way back to see what happens. Of course, this will mean bigger loss if wrong. Don’t know, and won’t know till I try.

It feels like there is this mysterious chasm separating me from success, and the chasm is everything I fear in trading, and to get over this chasm will take an act of courage that I have, to this point, not been able to muster for any length of time, and this act of courage will be tremendously uncomfortable, and at times painful, but is a rite of passage that needs to be taken or nothing will change. Complicating things is the fact that up to this point, on those rare occasions when I have girded up to “go for it” I have gotten chewed up, so I am still unsure if there really is success on the other side or if it is all just an illusion. The bottom line is that I need to take a higher percentage of trades that work. Whether the answer to solving this problem is mental or mechanical is unclear, and probably lies somewhere in between.

Lately I have been attempting to show every trade. As for mechanics, if anyone sees something that should be noted about my trade location, direction, timing, read of the market or whatever I would most appreciative. I know I need to buck up psychologically, but I also know that nothing cures bad trading like picking better trades. Thanks again to @mrmuggins for what you pointed out earlier.

Attached Thumbnails
Tap In's Corner-2016-09-03_1154_combine.png   Tap In's Corner-2016-09-03_1155_stats.png  
Reply With Quote
     
The following 9 users say Thank You to Tap In for this post:
     

Old September 3rd, 2016, 06:55 PM   #730 (permalink)
Market Wizard
Murrells Inlet SC
 
Futures Experience: Advanced
Platform: Tradestation
Favorite Futures: ES, CL, ETFs
 
Inletcap's Avatar
 
Posts: 9,158 since Dec 2012
Thanks: 9,767 given, 25,030 received
Forum Reputation: Legendary


Do you go back and read your journal? It seams that every post talks about "BE". I ask you before if you are trying to be right or make money and you answered. Since then I see no change- every day you do the same thing- watch the market move all around on a very low timeframe chart which you end up ignoring your higher timeframe analysis ( which is good BTW) only to take some random trade thinking the trend has ended. You need to change this and believe in trading directionally until it doesn't work and ditch the fear- break even doesn't make money- Taking a loss to get a big win does!!

Reply With Quote
     
The following 9 users say Thank You to Inletcap 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 10:48 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 2016-12-05 in 0.18 seconds with 20 queries on phoenix via your IP 23.23.50.247