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TheTradeSlinger's Journey
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TheTradeSlinger's Journey

  #101 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
TheTradeSlinger's Avatar
 
Posts: 402 since Jun 2015
Thanks: 639 given, 510 received

Back to back sessions where I didn't worry about the pnl, just let the charts do there thing.

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  #102 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
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Posts: 402 since Jun 2015
Thanks: 639 given, 510 received

Getting more and more comfortable.

(Super late start to the day, got to the charts and hour or so ago)

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  #103 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
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Posts: 402 since Jun 2015
Thanks: 639 given, 510 received


I'm excited for tomorrow, can't wait to see what happens with the interest news.

Yesterday and today, both small winners, really not trading, just wanted to get something on.

Tomorrow I'll be trading and hopefully making a video.

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  #104 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
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Posts: 402 since Jun 2015
Thanks: 639 given, 510 received

No trades today, just decided to watch today after the announcement.

I've been thinking lately about goals and consistency and have decided to treat this trading journal as a real development tool instead of simply posting my pnl each day. I'm going to post charts of my trades and analyze each in an effort to understand my trading and find areas I need to improve in (mainly winning trade duration). Let's find out if the old adage "what doesn't get measured, doesn't get improved" is true or not. Going to do a trial of TraderVue too soon, lots of metrics to measure and improve upon with that tracking software.

Goals

Increase winning trade duration.

Track and analzye my trading thoroughly.

$4,000 net profit monthly. Can be broken down to $1,000 a week, or $200 each session.
$200 each session is roughly 2 times what I'm doing now so that should give some encouragement to holding winning trades longer.
This doesn't mean stop after making my goal each day, just simply guidelines to achieving my monthly goal of $4000.
I'll keep track of progress towards the monthly goal with each session analysis post.



Looking forward to beginning this new direction in the journey tomorrow!

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  #105 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
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Posts: 402 since Jun 2015
Thanks: 639 given, 510 received

How to sell support and buy resistance all in one journal entry.. Wow.

Eye-opening to review my trading this way, I had the idea right, execution absolutely poor. Really poor.

Started to place price in the context of a move much lower, possibly gapfill scenario early on in the session.

Instead of using my context bias and executing shorts at resistance on the way down, I kept repeatedly anticipating breakouts lower and they never came (or as in the case of the 4th trade I closed the trade right when it was going to go in my favor, that exit was simply a 'pain avoidance' exit which I will work to avoid at all costs).

The only positive thing I take away from today's trading was that I actually put on the trades in a mindset of letting the winners run, actively thinking of letting each trade run. Today's mindset is nearly polar opposite to my approaches from previous days (essentially every other day except today lol). I will seek to cultivate that mindset of letting my trades run and using market feedback to tell me what to do instead of me simply closing out of fear or worry or any other reason under the sun instead of support/resistance.

Looking forward to doing more daily reviews.

PnL:

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Extremely basic tracking excel spreadsheet I am working on (will be getting TraderVue soon for real statistics):

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Chart of today's trades #1:

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Chart of today's trades #2

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Context picture for today's trades (ha the drop I was looking for took place moments after calling it a wrap for the day!):

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Last edited by TheTradeSlinger; December 17th, 2015 at 09:57 PM.
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  #106 (permalink)
Elite Member
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Futures Experience: Advanced
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Posts: 402 since Jun 2015
Thanks: 639 given, 510 received

Done early for the day, going to devote some time to some automated strategies I'm working on.

Had the context down today, but again, execution leaves a lot to be desired.

Took 2 breakout trades at support, instead of waiting for a test of resistance (sell at resistance!). This shorting at support and buying at resistance and 'anticipating' breakouts is something I am going to keep working on reducing in my trading while working to increase the buying at support and shorting at resistance.

I am proud of the second trade, I actually got fed up with my one or two tick winners and held for a full point. My issues with holding winners will be overcome with time and experience, mark that second trade as step 1 in the journey.

Really going to dig deep this weekend and think about analysis vs execution and be back ready to go next week. Hopefully it will be a good week of trading, who knows though with the holiday period next week.


Pnl:

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Tracking (soon to be TraderVue):

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Today's trades:

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Context for today's trades:

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  #107 (permalink)
Trading Apprentice
Barcelona, Spain
 
Futures Experience: Master
Platform: Sierra Chart, TradingView
Favorite Futures: ES CL
 
Posts: 3 since Dec 2010
Thanks: 2 given, 3 received

Hi!

Hi TradeSlinger! nice to read your thread. I have been trading for 8+ years (going full time next month taking advantage of a relocation) and followed a similar path of yours I discovered Kewltech few weeks ago and find it really refreshing.
Actually I have few questions for you:

- which platform do you use to trade futures?
- have you ever considered the 1st touches to low volume nodes from volume profiles?
- I am still slightly unsure about the subjectivity of the support and resistences drawn on a chart.. what do you think, are you sure about the lines you design?
- finally, my understanding from Kewltech is that we are going to test always the last support of the leg up before the drop or the last resistance of the leg down before the pop - to be traded in combination with the momo and keeping an eye on the acc/distr identified by the MACD divergences... is this a good summary?

All the best!
David

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  #108 (permalink)
Elite Member
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Futures Experience: Advanced
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Posts: 402 since Jun 2015
Thanks: 639 given, 510 received


Martingale View Post
Hi TradeSlinger! nice to read your thread. I have been trading for 8+ years (going full time next month taking advantage of a relocation) and followed a similar path of yours I discovered Kewltech few weeks ago and find it really refreshing.
Actually I have few questions for you:

- which platform do you use to trade futures?
- have you ever considered the 1st touches to low volume nodes from volume profiles?
- I am still slightly unsure about the subjectivity of the support and resistences drawn on a chart.. what do you think, are you sure about the lines you design?
- finally, my understanding from Kewltech is that we are going to test always the last support of the leg up before the drop or the last resistance of the leg down before the pop - to be traded in combination with the momo and keeping an eye on the acc/distr identified by the MACD divergences... is this a good summary?

All the best!
David

Hi @Martingale,

1. I use TradeStation as my broker/platform.

2. I've never looked at volume profile or volume nodes so I have no idea.

3. The S/R lines that I use in my trading every single day are quite meaningful to my trading, there is no magic though, it's simply how the market operates: moving from level to level all day long on all timeframes.

4.
Quoting 
my understanding from Kewltech is that we are going to test always the last support of the leg up before the drop or the last resistance of the leg down before the pop - to be traded in combination with the momo and keeping an eye on the acc/distr identified by the MACD divergences... is this a good summary?

Can you provide a chart example of what you mean here? Here's a crudely drawn example of what I think you may be referring to?
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  #109 (permalink)
Trading Apprentice
Barcelona, Spain
 
Futures Experience: Master
Platform: Sierra Chart, TradingView
Favorite Futures: ES CL
 
Posts: 3 since Dec 2010
Thanks: 2 given, 3 received

Thanks. That's exactly what I refer to i am now on the mobile but tomorrow I ll post a chart of what I am referring to.

Would love to share my analysis with you on Kewltech as I recently found his blog and yet can't find much reference on his technique online. My main doubt so far is...(in brief).. ok, we have now a bunch of untested levels... which ones will be tested first? I guess if we have the answer to that we would be millioners

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  #110 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
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Posts: 402 since Jun 2015
Thanks: 639 given, 510 received


Late start to the day, didn't get to the charts until around 15 minutes before this trade.

Debated last night whether I should trade or not this week due to the holidays and decided to go for it, why waste opportunities to make money?

This trade was essentially an order flow pop, watched as ES approached the resistance level and tested it a few times, decided to go long, targeting the open.

Holding my winning trades is getting easier and easier, held this one for a full point and then as it created that wick I thought maybe this was a failed level breakout so I exited. Not too happy about the exit, but I experienced no worry or anxiety over holding the trade open... I'm making progress.

I'm making an average of $125 a day since starting the detailed log, a little over half of my goal of $200 daily, but much better than what I was doing prior to the detailed log.

Looking forward to the rest of this week.

PnL:

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Log:

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Chart:

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