NexusFi: Find Your Edge


Home Menu

 





SniperDaytrader's journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Pepe2000 with 62 posts (76 thanks)
    2. looks_two KahunaDog with 5 posts (0 thanks)
    3. looks_3 lemons with 2 posts (2 thanks)
    4. looks_4 bobwest with 1 posts (2 thanks)
    1. trending_up 12,806 views
    2. thumb_up 80 thanks given
    3. group 10 followers
    1. forum 72 posts
    2. attach_file 101 attachments




 
Search this Thread

SniperDaytrader's journal

  #61 (permalink)
 
KahunaDog's Avatar
 KahunaDog 
Hawaii at the beach
 
Experience: Beginner
Platform: Nt8, MotiveWave, TOS
Broker: S5
Trading: ES, ZB fine alcohol and muscle cars
Posts: 549 since Apr 2013
Thanks Given: 1,168
Thanks Received: 412

Sniper what are the marks in the candles?
Is that the point of control? As in the most bids and asks per candle.

Visit my NexusFi Trade Journal Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Futures True Range Report
The Elite Circle
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
38 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
Battlestations: Show us your trading desks!
18 thanks
  #62 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111

Are you asking about the yellow dots? It just marks certain type of PA situation in the market and it is very hard to describe without going too much into detail. However, it is part of my historical develpement as a trader and has little impact on my trading in current stage.

Follow me on Twitter Started this thread Reply With Quote
Thanked by:
  #63 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111



I was done for today after initial 50min. I reached my PDP (perfect daily target), so I was reluctant to trade more. I took first long near the low of the market and as you can see, it was also a good lesson why to take your first profit target quickly. The market fell littlebit lower to rebounce and move higher.


I took short position after I saw the agony of premature longs (simple traders). First, the market makers created a situation where they ''advertised'' long situation for the simple trader. And they catched a lot of them this time. Simple traders kept buying and buying and market makers ate their market orders with their sell limits (to prevent the market to move higher) resulting in a situation which I call ''the trap''. Now we see lot of simple traders already in the position wondering why the market doesn't move. They cannot get out and they keep hoping that the market will eventually rise. Market makers wait until they see they have trapped enough of them. They enable market to move just littlebit higher so the last latecomers will join in. After few minutes of agony they let the market fall with one objective in mind: to feed on the poor simple trader's stop limits, which are in fact sell orders so they help the market to fall even lower. Of course I joined the market makers in their filthy game and took quick profit. I will take a shower after I am done here


Follow me on Twitter Started this thread Reply With Quote
Thanked by:
  #64 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111

When I started my blog I promised to share the good but also the bad. And there is always lot of bad days in trading. Even the best traders have bad days from time to time. For traders the bad day usually means that he lost a lot o money. And since I promised to share everything, here it is – the biggest loss per day since I started this round of live trading:


T1 was very premature and I was not able to close it sooner.
T2 another premature entry, this time even worse than the previous
T3 I catched this one very high and of course the following stop run hit my (widened) stop loss
T4 long in YM, quite good, but I couldn’t withstand the market noise. My profit target was exactly at 17910 where the market eventually climbed
T5 and T6 were ok trades, but I took them too prematurely and I again couldn’t withstand the market noise so I closed both
T7 stupid
T8 stupid
T9 and T10 both prematurely
From the beginning I saw that the markets are falling and not behaving normaly. In that case (if you are not already in the market from the top) the best position is to sit on your hands and wait until the market callms down. My stubborness costed me dearly. $309 to be exact. Expensive lesson, I hope I will learn from it. What is even worse I broke my money management rule (max. daily loss $150).


So what do I do now? Nothing. I will continue to trade as if nothing happened. It may sound stupid at first, but if your trading plan is solid (and mine is, which was proven by SIM period), than the only thing you can do is nothing. I wouln’t try to cut the drawdown because it would make me more aggressive and that is something you don’t want to do if you are losing. Quite the opposite I will try to take just the best setups and trade with more caution.

Follow me on Twitter Started this thread Reply With Quote
  #65 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111

I am slowly regaining confidence after last week's fiasco. Today, I reached my perfect daily target after 30min of trading.


T1 was a mistake. I took the trade too early. After I realized that, I quickly closed the position at BE+1
T2 I picked the highest high 6 ticks from high. I didn't want to risk anything and took quick +9 ticks
T3 I went long after I saw struggle of bears to push the market lower. +10

Follow me on Twitter Started this thread Reply With Quote
Thanked by:
  #66 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111

Today, market was testing my patience... and I succeeded. There have been literally just couple of good opportunities. I missed one of them because I couldn´t react quickly enough and then I didn´t want to chase the market so I let it go. I ended up with a single trade.



T1 After I saw that I am not able to enter the market with limit order efficiently I opened this long with market order. Very quick trade (30 secs) with 2 ticks heat. +12

Follow me on Twitter Started this thread Reply With Quote
  #67 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111


Very low volume and almost dead market today. The whole day was again about patience.

T1 Even when I was expecting the market to move higher and thus having a long bias, this short came from my preplanned zone after I saw buyers fading out. I picked the local high pretty good but because of low volume in general I also didn´t see enough sellers comming in. I decided to close the position at BE+1

T2 This was again few ticks from local low. I had just 2 ticks heat. MID and low provided barrier to hide my stop loss behind. Soon after my entry the market rallied. Having the low volume in mind I aimed just for the closest logical target which was 9 ticks away in this case.

Follow me on Twitter Started this thread Reply With Quote
  #68 (permalink)
microsat
houston texas/us
 
Posts: 25 since Dec 2014
Thanks Given: 6
Thanks Received: 2

Sorry for my naive question. I want to know how to decide the entry and exit points in the order flow.
go long if cumulative delta is green?

Reply With Quote
  #69 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111

My goal for this week was to regain confidence. I was trying to trade just the best setups with controlled risk. I was trading just 4 days (Tuesday till Friday). Most of the time the markets have been quite slow, specialy on Friday.

I had 3 winning days + loss on Wednesday. Except Wednesday I had 100% win ratio (Wed just 33.33%). The total profit is not very impressive but it is the first step towards recovery from previous period of bad weeks.

Follow me on Twitter Started this thread Reply With Quote
  #70 (permalink)
 
Pepe2000's Avatar
 Pepe2000 
Bratislava, Slovakia
 
Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Trading: NQ, YM, ES
Posts: 94 since Sep 2012
Thanks Given: 12
Thanks Received: 111



microsat View Post
Sorry for my naive question. I want to know how to decide the entry and exit points in the order flow.
go long if cumulative delta is green?

The best answer to that question is to fully understand what is going on in the market. Orderflow is a perfect tool to analyze the market moves. You can see what is really going on before the market ticks up or down. Your goal should be to understand and recognize specific situations in orderflow.

Soon it will feel like market is trying to "tell you something" and you just have to listen. You have to observe what is market trying to do and how successfuly. Then you can create your own entry and exit points.

If you are looking for some easy and simple ´switch-like´ setup where you enter according what some indicator does then I will disappoint you. Orderflow doesn´t work like that.

Follow me on Twitter Started this thread Reply With Quote
Thanked by:




Last Updated on February 10, 2016


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts