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ES day trader bbdsan's journal
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ES day trader bbdsan's journal

  #131 (permalink)
Trading for Fun
Sacramento, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 148 since Feb 2015
Thanks: 24 given, 74 received

I started the day poorly, getting short twice while the market was going up then getting long twice as it started back down. I finally took a 2-contract trade with the trend and rode it for 3.5 points. That almost got me back to even on the day. After such a huge move down I figured prices would at least make an attempt to retest the low so I built a big 5-contract short position during the "dead cat bounce". I covered 4 contracts with a 7-tick profit and took just a tick on the 5th contract. This put me well positive on the day and I called it.

8/3/2015 +$295.26, 7 wins, 5 losses
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My trading has been a little more haphazard lately with 3-, 4- and even 5-contract positions. However, once my check clears with my broker and I start live real-money trading again in a couple weeks, I won't be able to do that. Therefore, all of my practice trading for the next 2 weeks will be with one contract only. You could say I'm going back to basics. I must be strict with this! I won't be able to save my day with a 5-contract position when I start up with real money again.

-bbdsan

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  #132 (permalink)
Trading for Fun
Sacramento, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 148 since Feb 2015
Thanks: 24 given, 74 received

Good day today. I missed out on a couple nice trades when I had to leave my screen to run an errand. There are some more comments directly on the charts.

8/4/2014 +$102.30, 7 wins, 3 losses
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Hope everyone has a good night.

-bbdsan

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  #133 (permalink)
Elite Member
Atlanta, GA
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader
Favorite Futures: ES
 
Posts: 190 since Nov 2013
Thanks: 619 given, 694 received


Hello,

Thanks for posting your trades. If I may add to your journal, I'd like to tell you not take stop order trades at all when the EMA is flat, and especially when you're in a tight range. You never want to do that. When you have tight trading range you want to buy low sell high and use limit orders with tight stops. Keep in mind that trading is all about probability. It doesn't matter even if you have best second entry setup because you will still get stopped out if you don't understand the "context". Watch higher time frames to get better picture of what the overall trend is. Focus on taking "only" long trades when price is trading above the EMA and vice versa. Keep it simple and don't try to trade like Mack because he doesn't take all the trades that he circles on his chart. It's much easier to say after the fact. Focus on quality over quantity. Hope it helps you.

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  #134 (permalink)
Trading for Fun
Sacramento, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 148 since Feb 2015
Thanks: 24 given, 74 received

Today was interesting. I watched a lot of price action go by without taking many trades. I missed a couple good trades because the setup wasn't quite right. I guess I was being a little too cautious perhaps. But I'm proud about resisting the temptation to take a trade just for the "action". I'm proud that I was able to just sit there and be patient. I did have 2 trades where I second guessed it and took only 1 tick of profit, when I could have taken 4 ticks and even more in both cases. This is a confidence issue. I had one losing trade but it wasn't because I broke my rules. It was a 2nd entry. I didn't just buy/sell blindly as I've done in the past. I just misread the PA. I neglected to wait for a retest of the low after a break of a down channel. It's a more subtle aspect of PA that I still need to work on.

But overall, I'm fairly pleased with my trading today. I didn't make a lot of money, but I didn't lose any. And I showed real patience today, which is a key part of all this. Anyway, on to the charts...

8/5/2015 +$53.88, 5 wins, 1 loss
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I'm off the rest of the week. Hope everyone has a good weekend.

-bbdsan

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  #135 (permalink)
Trading for Fun
Sacramento, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 148 since Feb 2015
Thanks: 24 given, 74 received

I know I said I would be taking the rest of the week off but I woke up early as usual and what else am I going to do at 6:30 in the morning? Fired up the platform and was pleased to see prices really moving this morning. The PA was very straightforward and I finished early. Time to get ready for our trip.

8/6/2015 +$160.92, 4 wins
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Definitely no trading tomorrow so, again, I hope everyone has a great weekend!

-bbdsan

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  #136 (permalink)
Trading for Fun
Sacramento, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 148 since Feb 2015
Thanks: 24 given, 74 received

I got a late start this morning. Then I got fooled into going long at the very high after what I thought was a failed 2nd entry short. I still was convinced prices were going higher so I doubled down and took an extra large loss, -8 and -3 ticks. Then I got long again, looking for a measured move into 2100. It went 5 or 6 ticks then came back and stopped me out for a 1 tick profit. Finally, I got long after another failed 2nd entry short and added on after the 2nd entry short counting from the high failed. I took a 5-tick scalp and let the 2nd contract run. I took profit a tick below the measured move and called it a day.

8/10/2015 +$94.90, 3 wins, 2 losses
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-bbdsan

 
  #137 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: kinetick papertrading
Favorite Futures: Cl, ES, TF
 
Hayles76's Avatar
 
Posts: 26 since Sep 2012
Thanks: 204 given, 12 received

Just one question, why do you enter on such high contract, high tick charts, do you not have a lower tick chart frame for more precise accurate, timely entry ??

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  #138 (permalink)
Trading for Fun
Sacramento, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 148 since Feb 2015
Thanks: 24 given, 74 received


Hayles76 View Post
Just one question, why do you enter on such high contract, high tick charts, do you not have a lower tick chart frame for more precise accurate, timely entry ??

I'm trading only one chart, the 6500 volume chart. The main reason is that it's the same chart that Mack trades, and therefore in the evening I can directly compare my chart to his daily video (http://www.youtube.com/user/PATsTrading/videos). I have a little experience trading a smaller, faster chart. It moved a little too fast for me to trade properly. It was more difficult for me to correctly draw in my short-term channels and keep track of the bigger picture too. And there were too many setups, many of which failed.

-bbdsan

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  #139 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: kinetick papertrading
Favorite Futures: Cl, ES, TF
 
Hayles76's Avatar
 
Posts: 26 since Sep 2012
Thanks: 204 given, 12 received

Would you not more evidently consider a 500 tick ; 1500 ; 3500 or are you buying on retraces using your linear breaks or touches, would that high 6500 volume chart have more risky exposure to markets and thus whipsaws ??


Last edited by Hayles76; August 11th, 2015 at 02:32 PM. Reason: mistake
 
  #140 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: ninjatrader
Broker/Data: kinetick papertrading
Favorite Futures: Cl, ES, TF
 
Hayles76's Avatar
 
Posts: 26 since Sep 2012
Thanks: 204 given, 12 received


Do you egregiously over trade or do you only have high probability trade set up rules that you adhere to ??


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