|April 14th, 2015, 01:50 PM||#71 (permalink)|
Futures Experience: Advanced
Platform: Sierra Chart, NinjaTrader
Favorite Futures: NQ, YM, ES
Posts: 91 since Sep 2012
Thanks: 11 given, 107 received
April 14, 2015
Another difficult day. Markets kept falling from the beginning and when the consolidation started the volume faded away leaving me with little chance to enter the market properly. And to add to my misery I had also some technical difficulties when I entered the market twice by mistake.
T1 Was good trade which simply didnīt work out. Only Nasdaq broke the microconsolidation down with volatile bar, I saw some trapped bears followed by lack of interest to sell lower. So I went long. As the position returned to test the low again I cancelled it with flat shortcut and got 3 ticks slippage. -9
Point A This could have been aggressive short entry (for me) but I am currently trying to avoid those trades, so I didn't take it.
T2 and T3 Average trade, not so clear from beginning. I was trading more structure of the market than actual market auction. The market went my way exactly to touch my profit target but I didnīt get fill. I should have closed the position right away but I gave it too much space. Then I closed it with flat shortcut when it came close to my stop loss, but at the same time market triggered my actual stop loss. So I got out from the position and my platform opened reverse (short position) resulting in additional loss. -11; -3
Point B This was very clear setup which I missed (I was paralysed )
T4 and T5 First I enterd too early. I realised my mistake and cancelled the position at BE. Then I did reentry after the market tested the willingness of bulls to buy higher with negative response. After I entered I saw some bad signs in auction so I opted for a quick exit at BE-2, but instead of hitting flat shortcut I hit the sell shortcut so I added antoher contract to already bad position. Then I flated both contracts. 0; -3; -1
T6 Finally very nice trade from the local high. I knew I am correct after I watched the auction at the price levels of my entry but I didn't want to risk homerun. I needed to lower my drawdown. So I opted for quick +10.
T7 I was waiting for this setup from the last entry and I planned it as my last entry for today. Volume was already at critical levels and in such conditions I am losing my edge. Very nice and quick trade without any heat. Again I opted for quick +10 to lower my drawdown.
After all the technical difficulties, missed opportunities and bad market, the -$67 loss feels like small victory