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Three Trades a Day
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Created: by harry737 Attachments:100

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Three Trades a Day

  #41 (permalink)
Elite Member
london, UK
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: NT
Favorite Futures: Stocks, Bonds
 
Posts: 131 since Sep 2013
Thanks: 152 given, 52 received

Early morning First thoughts

Looking like there might be a bounce on the early morning session, but with the cash open looming at 8:00am, think its prudent to see what cash orders there might be, because Stox has retreated approx 40 ticks from the cash close, so there might be some sell orders intially, then if it steadys(no follow through).
The target on the daily Head n Shoulders talked about on Thursday has a target to 3372, so will be looking to sell higher 3467-3671, market above here leaves shorts scampering a bit to 3485, but there is a lot of Negative Imbalance 3467-71 so it would need to break back below, quickly if the move is lower lows on the day.
Unirenko is in uptrend, PAS vol indi is down, market is accumulating positive volume thus far

First trade

Sold 3470 bought 3459, it was a struggle good buying on highs, then news about a "new Greek proposal" came out, three page document asking for billons of Euro's, this got me out and then the market quickly traded down to 3450, but happy with the first trade.

Second Trade

Shorted at 3447, from previous level (Positive Im Balance) paid 3442 and 3434, some heavy selling coming in now, bit of a shame they didnt start this yesterday 50 ticks higher.
Was a little nervous of this trade selling so near to the low, looking for the market to make a new low and hit target so took half at five ticks ....
Unirenko was in Downtrend now below 3450


Last edited by harry737; June 9th, 2015 at 06:23 AM.
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  #42 (permalink)
Elite Member
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Third Trade

Waiting for the rally to peter out around 3446-3450, but have a resting order at 3459

Sold 3449, traded 3458 then I jumped in what I thought was a decent setup, but in the end there was quiet a long tussle around 4446-53, so was slightly out of position so covered half at 3444 and the rest at 3435, by the time cash close comes in Europe it might be trading near its lows, but out and done for the day, will show illustrations for last trade as well as trades for today.
Pleased with result, was needed because I was on a poor run of choices, in the last trading days, getting that first trade right was very important.

Attached Thumbnails
Three Trades a Day-negimbal.png   Three Trades a Day-range.png   Three Trades a Day-2015-06-09_1505.png  

Last edited by harry737; June 9th, 2015 at 11:07 AM.
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  #43 (permalink)
Elite Member
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Posts: 131 since Sep 2013
Thanks: 152 given, 52 received

Early morning First thoughts


Significant factors, Greek on off still looming, positive rhetoric, we have had 4 down days on the spin and that hasnt happened this year, December 2014, factors to watch the Bund and the yen against the dollar might be general weakness for the dollar which is always helpful for the equities at the moment. If the rout in the Bund futures could abate we might get a rally.
Stox above 3434 bulls are in control, below 3425 bears are in, with 3413 as support, unless there is some news there is decent resistance at 3459/62, then again at 3467/73 which is where i would like to get short from, unless there is new selling pressure below(3434) with a retest 3437 and failure to go bid

Attached Thumbnails
Three Trades a Day-dailyrange.png   Three Trades a Day-6omin.png   Three Trades a Day-bunddebt.png  

Last edited by harry737; June 10th, 2015 at 04:02 AM.
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  #44 (permalink)
Elite Member
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Futures Experience: Intermediate
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Thanks: 152 given, 52 received

First Trade

After failing to buy a dip or sell a rally, managed sell more a less middle of the range 3453 and paid 3458.
luckily enough stepped out of the way of the accumulative positive delta, which has broken yesterdays highs

Second Trade

Have a resting offer at 3505, also have some previous positive imbalance Mondays trading around 3496/7 area which I will be watching, but at the moment bears are being squeezed and the dips are shallow

Attached Thumbnails
Three Trades a Day-posdeltaacc.png  
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  #45 (permalink)
Trading Apprentice
Charlottesville, VA
 
Futures Experience: Intermediate
Platform: NinjaTrader
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Posts: 21 since Apr 2014
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I've been trading til 3 winners or losers a day, but after doing the math, taking just 3 trades a day makes much more sense.

I trade /ES, risking 1 point for 2 on every trade. GROSS profit, we are speaking about,

3 trades a day.
3 Winners 0 Losers = $300
2 Winners 1 Losers = $150
1 Winners 2 Losers = Breakeven
0 Winners 3 Losers = -$150
50% Winner
25% Breakeven
25% Loser

Trade til 3 wins or losses per day.
3 Winners 0 Losers = $300
2 Winners 3 Losers = $50
1 Winners 3 Losers = -$50
0 Winners 3 Losers = -$150
50% Winner
50% Loser

My max daily profit is still the same, but just taking 3 trades a day will limit my downside. Not that I've had problems with losing days, it's just I like your trading rule a lot better. I usually don't find enough setups in a day for my current rule to begin with. Sometimes I end up with 2 wins 2 losses, or something.

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  #46 (permalink)
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Managing Risk

The Three trades is to limit the downside, but this then limits the upside, possibly, I mean you might go on to run trades further and longer.
It has helped to realize and control my trading, giving modicum of clarity, although yesterday I have no idea why I did those trades they were against all that gives me a profit and missed out or was totally blind, like a rabbit in the headlights, jabbing out into the dark waiting for the inevitable, twating by the market.
Yes I did three trades and or I kept trading till i have a loser, but you lose that thought process and velocity in what you are doing to achieve targets, scratch trades and then break rules, chaos then kicks in.
So I went back to three and to keep me in check I started the journal, which I totally recommend, although slightly embarrassing when you trade like a total knob, but thats your downside, for making rubbish decisions

All the Best

what markets are you trading

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  #47 (permalink)
Elite Member
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Favorite Futures: Stocks, Bonds
 
Posts: 131 since Sep 2013
Thanks: 152 given, 52 received

Early morning First thoughts

Looks like the Stox are going to keep on rallying now, not on move up which makes this tricky, because i have to wait for a dip or sell into this rally which will need patience, then have to be ready to do the trade and not flaff( If thats a word)around.

First Trade

Sold 3538 bought 3529 and 3543, small up, but thought that there was reason to believe market was getting short at these levels, illustrations below

Second Trade

Sold 3552 bought 3554 and 3553, news came out about Greece and them not accepting the deal on the 1% primary surplus, which is the sticking point, sold it, quickly realizing market seemingly not bothered by this, so exit. This the reason I probably didn't by 3555/2 on the setup as illustrated below.

Attached Thumbnails
Three Trades a Day-2015-06-11_0916.png   Three Trades a Day-2015-06-11_1327.png   Three Trades a Day-2015-06-11_1316.png   Three Trades a Day-2015-06-11_0921.png  

Last edited by harry737; June 11th, 2015 at 10:07 AM.
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  #48 (permalink)
Trading Apprentice
Charlottesville, VA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 21 since Apr 2014
Thanks: 0 given, 13 received


harry737 View Post
The Three trades is to limit the downside, but this then limits the upside, possibly, I mean you might go on to run trades further and longer.
It has helped to realize and control my trading, giving modicum of clarity, although yesterday I have no idea why I did those trades they were against all that gives me a profit and missed out or was totally blind, like a rabbit in the headlights, jabbing out into the dark waiting for the inevitable, twating by the market.
Yes I did three trades and or I kept trading till i have a loser, but you lose that thought process and velocity in what you are doing to achieve targets, scratch trades and then break rules, chaos then kicks in.
So I went back to three and to keep me in check I started the journal, which I totally recommend, although slightly embarrassing when you trade like a total knob, but thats your downside, for making rubbish decisions

All the Best

what markets are you trading

Just trading /ES. Used to trade /CL for a living, but there's more room to grow in /ES. With my strategy, could easily size up to 100-200 lots and make a typical family's salary in a day (my dreams!). Til then, I'm just trading 1 lot until I iron the details out. Made $125 yesterday. Nothing compared to what I made in /CL, but I'm looking at the future, not right now.

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  #49 (permalink)
Elite Member
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Futures Experience: Intermediate
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Thanks: 152 given, 52 received


chrisplecker View Post
Just trading /ES. Used to trade /CL for a living, but there's more room to grow in /ES. With my strategy, could easily size up to 100-200 lots and make a typical family's salary in a day (my dreams!). Til then, I'm just trading 1 lot until I iron the details out. Made $125 yesterday. Nothing compared to what I made in /CL, but I'm looking at the future, not right now.

Agreed its about getting the process right then increase the size, I am trying not to focus on the money, end game is to increase size

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  #50 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: NT
Broker/Data: NT
Favorite Futures: Stocks, Bonds
 
Posts: 131 since Sep 2013
Thanks: 152 given, 52 received

Third Trade


bought the dip, unfortunately stopped me out 3444 s 3439, pretty frustrating

confidence is lacking, spoke to an option trader, who was based in Chicago, he said the adage

Patient but not hesitant, Aggressive but not forceful

At the moment I am hesitating, which then makes me forceful out of frustration, will sort this out!!

Trades below, by the way thought I was trading the sim and sold 6 CL which I quickly bought back as an error.

But was very tempted to trade

Attached Thumbnails
Three Trades a Day-2015-06-11_1720.png  
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