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

  #141 (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


bbdsan View Post
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


I agree with you bbdsan, I have tried trading on a 233 tick chart and it is far too fast paced for my way of thinking, I like your style of using linear breaks, channels and utilising uniformity in trading techniques. Is 6500 volume chart deliver more accurate readings than a tick chart, why do you not have higher or lower chart time frames for your set ups for more profitable combination or does the 6500 volume chart in itself a high probability trade set up for less riskier more profitable trades in combination with the channels ?

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  #142 (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
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 ??

I don't completely understand your question but I'll do my best to answer. I just stick to the one chart. As a rule I don't trade breakouts from a horizontal range because they fail more often than they succeed, in my experience. With the higher volume chart (6500 ES contracts) I feel I am less likely to get whipsawed. There are fewer entry setups on the slower chart.

Hope it helps.

-bbdsan

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  #143 (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
Do you egregiously over trade or do you only have high probability trade set up rules that you adhere to ??

I try to stick to my rules and only enter on high probability setups. Sometimes, like today, my emotions get the better of me and I over trade. I'm still learning.

-bbdsan

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

As I mentioned in a previous post today, my emotions sometimes get the better of me. Today I started the session with 3 losers. After finally getting a winning scalp, I took 3 more losses! I was really in bad shape. I was down about $450. After that I managed to get mostly wins. I worked my way all the way back to about -$150. That really was when I should have quit for the day. It was about noon and I try to stop trading by noon. However, after all of that I tried one more trade and wouldn't you know it was a loser. So now I was down about $250.

All day long I was proud of the fact that I hadn't once doubled down or taken a bigger than 8-tick loss. At least I was following my rules. But after that last loss it all went out the window and I decided to build a big short position. I shorted 1, then 2, and finally 3 contracts. I had to hold the position through a pretty healthy rise but finally, in the after hours session the price dropped down enough to fill my original target order.

It was crazy, I know. And that kind of crap won't be possible in a few days when I try real money trading again. But I'm already up more than $4000 in my demo account and so I just went for it. Perhaps this means I'm not quite ready. Perhaps it doesn't. I don't really know. But I am going to proceed as planned. Once my deposit clears I'll try once again to go live. It should be this Friday but I might have to wait until next week.

8/11/2015 +$63.94, 17 wins, 11 losses
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-bbdsan

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  #145 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
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bbdsan View Post
... I had to hold the position through a pretty healthy rise but finally, in the after hours session the price dropped down enough to fill my original target order.

It was crazy, I know. And that kind of crap won't be possible in a few days when I try real money trading again. But I'm already up more than $4000 in my demo account and so I just went for it. Perhaps this means I'm not quite ready. Perhaps it doesn't. I don't really know. But I am going to proceed as planned. Once my deposit clears I'll try once again to go live. It should be this Friday but I might have to wait until next week.

It's good that you pulled it out this way, but you know that you can't rely on this kind of thing happening forever, right?

Anyway, good luck as you go live. It's a big step. Wish you the best for it.

Bob.

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


bobwest View Post
It's good that you pulled it out this way, but you know that you can't rely on this kind of thing happening forever, right?

Anyway, good luck as you go live. It's a big step. Wish you the best for it.

Bob.

Thanks Bob. I agree 100%. It wasn't good, though. It was mostly dumb luck. I wasn't doing great yesterday. It was just one of those days where I wasn't trading well.

Thanks for the well wishes!

-bbdsan

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  #147 (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 had a good day today, and finished early. I had enough profit by about 8:15 am and made the choice to quit trading for the day. I plan to do this sort of thing when I start trading real money again, too. I'll have a daily goal in mind and if I still want to trade after that I'll just switch over to the simulator, just for the practice and experience.

I was away from my screen until about 11:45 doing some errands and my daily run. As I was watching the PA a nice 2nd entry long set up and I took it. It resulted in a quick 4-tick scalp. It would have provided a pretty nice runner, too. This is all play money, of course, and I've already reached my $3000 goal so there's no need to record this trade in my records. I just wanted to take the trade in the moment as opposed to just drawing another blue circle on the chart. It was just another real-life example of how well this PA stuff works

8/12/2015 +$121.84, 6 wins, 2 losses
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Extra trade in the afternoon:
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I'm feeling quite confident. I hope everyone had good trading today.

-bbdsan

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

Today was my first day back trading real money. It was okay. I'm not crazy about range days like this. I took profits before 4 ticks on my first two trades. But as it turned out, I was right to do so. I need to go back and examine my entries to figure out why they didn't work. My third trade worked perfectly, although with only a tick or two to spare. Considering that it's my first day back, and it's a Friday, I decided to call it a day with about $90 in profits. I logged out of my platform and logged back in to my demo account so I will be sure not to give anything back if I see any good setups later.

Between the 1st and 2nd charts below I reloaded data on my platform. I'm not sure why that was necessary but it turned out there was a significant difference.

8/14/2015 +$89.44, 3 wins
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I hope everyone had a good week trading and enjoys their weekend.

-bbdsan

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  #149 (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 little bit of a late start this morning. I started watching about when the steep move up (dashed green channel) was coming to an end. It started working back down slowly and I jumped in long at the failed 2nd entry short (counting from the bottom). I had a chance to exit for a tick or two profit but I didn't. Instead, I started the day with an 8-tick loss.

After that it was smooth sailing. I got 3 good scalps and then the market really started slowing down. Right after exiting my 3rd good scalp, prices formed a bearish bar. I hadn't yet drawn that first trading range (2091.50 to 2093.25) so I didn't really think to get long after that failed break lower. But that would have been a good trade.

Then prices made a failed 2nd entry short (blue circled area). But to take that trade I would have had to go long at 2094.00 and the HOD at that time was only 2094.50. I decided to pass. Sure enough, prices ticked up to 2094.00 and then dropped back down. Then we saw that really bullish reversal bar (still in the blue circled area) and I thought I might be seeing a breakout-pullback. But still, I was leery to get long at the absolute high of the day. It looked like the day might turn out to be a big range day and I thought there was a good chance it would go up only 2 or 3 ticks and reverse. So I stayed out. After that there was nothing worth entering and it was getting to be too late in the day. So I called it.

8/17/2015 +$35.92, 3 wins, 1 loss
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At least I made a little money today. Better than losing! I emailed Mack about that blue circled area so we'll see if he talks about it in tonight's chart lesson.

-bbdsan

 
  #150 (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 tough. It was a tight range day and there weren't a lot of good setups. I definitely made some mistakes. I kept trading past the 12:00 hour trying to get back to even. It took some trading that I'm not proud of, but I was able to get two more wins in the last hour, which put me back in the black. It was only 11 bucks but again, I'd rather have a small win than any loss. This was my 3rd day back in the real world and my 3rd day of making money. Hopefully, I can keep the string going.

8/18/2015 +$11.28, 8 wins, 3 losses
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I hope everyone had a good trading day and we'll see what the Fed minutes bring tomorrow!

-bbdsan


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