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cts001 Jan 2015 Trading Journal
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cts001 Jan 2015 Trading Journal

  #31 (permalink)
Elite Member
Tampa, Florida USA
 
Futures Experience: Beginner
Platform: NinjaTrader, Think or Swim
Favorite Futures: ZB
 
Posts: 50 since Dec 2014
Thanks: 55 given, 43 received

End of Session Recap

Done a bit early today, but on a positive note.

No news to trade today, so it was mostly scalping.

Pre-market GC trade: GC in an uptrend and then pulled back. Price continued to fall but retraced a bit and I took the short expecting the downward move to continue. It did not and I was stopped out. Should not have entered short in an upward trend, especially when the current candle could not make a lower low before retracing back above the open price. Wrong trade.

Market open, NQ: Market opened with a quick bipolar action too quick for me to enter and then drifted downward in a bouncy fashion. It then picked up some downside momentum and had a quick pullback, where I entered short. Price continued to fall and hit both profit targets. Good trade.

The rest of the trades were regular session trades on GC.

Price was in a downtrend and had just dropped below the prior swing low. Entered short on a small retracement and price dropped to within 1 tick of profit target and paused. Stop was moved to break even + 2 ticks and price retraced again and hit the stop. Price would not have hit my original stop before dropping to my target, but I feel the trade management on this trade was correct. Better to take a small profit than a small loss. Good trade.

Price continued the downward move, so I entered short again on a slightly larger pullback. Price did go 1 tick against me and bounce before dropping to 1 tick of my profit target. Stop moved to break even + 2 ticks and price retraced and hit the stop again. Price bounced around and would have hit my original stop on this one, which validates my trade management on these scalps. Good trade.

Price bounced around for a while and then dropped to break the low of the prior candle. Entered short on a small retrace and price dropped to within 2 ticks of my profit target before retracing back to the entry price. Held onto the trade and price dropped to within a tick of my target again and paused. Moved stop to break even +2. This time price hit the profit target. Good trade.

Price continued to drop and entered short again on a little larger pullback. Price bounced around in the profit zone a couple of times before hitting the profit target fast enough that the system did not have a chance to move the stop. Good trade.

Overall a good day, 6 trades and 1 loser. Up about 13 ticks.

Attached Thumbnails
cts001 Jan 2015 Trading Journal-2015.01.26.1017.gc.eos.jpg   cts001 Jan 2015 Trading Journal-2015.01.26.0940.nq.eos.jpg  
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  #32 (permalink)
Elite Member
Tampa, Florida USA
 
Futures Experience: Beginner
Platform: NinjaTrader, Think or Swim
Favorite Futures: ZB
 
Posts: 50 since Dec 2014
Thanks: 55 given, 43 received

End of Session Recap

Early end to today as I hit my limit on losing trades per day. I'm in the process of revisiting that rule as it is based on my 'old' chart based, set and forget trading style that had very wide stops. My stops are narrower now, typically 4 or 5 ticks, so I'm actually risking a fraction of what I was when the rule was first implemented. Anyway, on to today's results.

Traded two events: U.S. core durable goods and the market open.

Core durable goods, traded using GC. Three trades:

Price was slow to react to the news but finally dropped a bit then started rallying. Got in a late long entry on a stampede and was stopped out almost immediately on a pullback. Good trade, wrong (late) entry.

Price made a new high and then pulled back significantly. As price was moving quickly back up I entered long. Price spiked quickly to within 1 tick of my target and then back below the price of my auto stop adjustment so the stop order was rejected. Manually exited the trade at +2 ticks. It was a good call as the original stop would have been hit if I had stayed in. Good trade, late entry, good trade management.

Price continued to make highs and pull back (bouncing). Entered long on one of the rallies after a pullback and was stopped out. Entry was too early this time. Right trade, wrong entry.

Market open traded with NQ. Two trades:

Market opened and headed down, and I had stampede on my mind from earlier trades, did not even look for a bipolar reaction, so I took a short trade as price moved down into the bipolar setup area. Not surprisingly, I was stopped out immediately as price reversed. Wrong trade.

Bipolar reaction never confirmed as price retraced to the open price but did not break over it. Price started to fall again so entered short on a stampede entry. Both targets hit and price was moving at a rate that made me consider moving my second target further down but it was hit before I could move it. Good trade.

Overall a good day, 5 trades, 3 losers but still profitable for the day.

Attached Thumbnails
cts001 Jan 2015 Trading Journal-2015.01.27.0934.nq.eos.jpg   cts001 Jan 2015 Trading Journal-2015.01.27.0935.gc.eos.jpg  
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  #33 (permalink)
Elite Member
Tampa, Florida USA
 
Futures Experience: Beginner
Platform: NinjaTrader, Think or Swim
Favorite Futures: ZB
 
Posts: 50 since Dec 2014
Thanks: 55 given, 43 received

End of Session Recap


Not a good day. Three events: market open, crude oil inventory, and FOMC rate decision. That in combination with contract rollover for GC and all the ingredients for a choppy day were in place.

Had one trade in GC in the pre-market: Price rallied and broke above prior swing highs with no significant pullbacks. Entered long right at the top of the move and was stopped out without the trade having become profitable at all. Wrong trade. The setup was correct, but it didn't work out this time. Price bounced around the stop price a bit and did make a new high by 2 or 3 ticks but would not have reached the profit target.

Traded the market open with NQ, as usual. Two trades:

Market opened lethargically starting downward and moving above the open price. Entered long just outside of the bipolar range and price continued to rally to within 1 tick of my first profit target. Stop was moved to break even + 2 for that lot and the stop was hit. Manually moved the stop for the remaining lot up 1 tick but left it on. Price retraced and hit the stop. Price bounced around the open a bit and moved lower. Wrong trade.

Price reversed and started moving solidly downward. Entered short on stampede entry. Price dropped to within 2 ticks of the first target and stalled. Started bouncing around and then retraced to the stop. Poor trade management on this one. Should have at least taken one lot off the table when price stalled, and closed the trade when price failed to reach the first profit target in two attempts. Wrong trade which could have been salvaged with better trade management.

Traded crude oil inventory with CL: Price dropped on the news but in a very bouncy fashion. Entered short on a stampede entry but was stopped out so fast the target limit order was rejected. Price rose, again in a very bouncy fashion but I decided the market was too bouncy for my entries and stopped. Wrong trade.

FOMC rate decision news caused the weirdest movement in GC I had ever seen, so no trade.

Attached Thumbnails
cts001 Jan 2015 Trading Journal-2015.01.28.1033.cl.eos.jpg   cts001 Jan 2015 Trading Journal-2015.01.28.1034.nq.eos.jpg  
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  #34 (permalink)
Elite Member
Tampa, Florida USA
 
Futures Experience: Beginner
Platform: NinjaTrader, Think or Swim
Favorite Futures: ZB
 
Posts: 50 since Dec 2014
Thanks: 55 given, 43 received

End of Session Recap

Had a good day, even though I had a lot of losing trades.

Traded 3 events: unemployment claims, market open and natural gas storage.

The first trade was an opportunistic scalp trade on GC: Price started to rally into a textbook stampede. Entered long (a little late) when price broke above some 5 min supply and price went immediately to the price target. Interesting to note that the target was the highest price of that move before a retrace and further move up. Right trade, entry a little late.

Unemployment claims, traded with GC: price hardly moved and was bouncing around a lot. Saw no setups so I took no trades.

Opportunistic scalp on GC: Price retraced downward and resumed the upward trend. Not the best setup as price had traveled through this area within the last 15 mins or so. Entered long on a move up and was stopped out after a small pause. Price did continue to rally upward after the stop was hit. Right trade, wrong entry.

Market open traded with NQ. Two trades:

Market opened and started bouncing downward. Entered short on a sizable pullback and was immediately stopped out. Price then continued to drop. Right trade, wrong entry.

Second attempt to join the downward move after the open. Price moved sharply downward and then paused. Entered short and price continued to drop for 3 or 4 ticks and then retraced to the stop. Price retraced all the way to near the open. Wrong trade.

Natural Gas Storage, traded with NG: Price gaped down on the news setting up for a nice gunshot entry, but price then continued to fall. Price drop developed into a stampede entry and enter short. Price continued to stampede downward without much pause or any significant pullbacks. Trade went onto auto trailing stop at 12 ticks profit but it kept falling fast and hit the target. Good trade.

Overall positive for the day, hitting the 30 tick target on the NG trade saved the day.

Attached Thumbnails
cts001 Jan 2015 Trading Journal-2015.01.29.1034.ng.eos.jpg   cts001 Jan 2015 Trading Journal-2015.01.29.1034.nq.eos.jpg   cts001 Jan 2015 Trading Journal-2015.01.29.1035.gc.eos.jpg  
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