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Papa's Trading Journal
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Papa's Trading Journal

  #21 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,357 given, 83,237 received

papa,

Good job on the details and the journal. Keep it up!

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #22 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

What happens when you follow your rules?

After yesterday, I was determined to follow my rules more closely.

ES had about a 5 min gap around 0925 and the MAs showed momentum towards a gpa closure. I entered and then exited just after the opening bell. Yes, I could have stayed for more, but I was satisfied.

The second trade was on 6B just before 10am. It was a nearly picture perfect setup. A pullback on the 5 min chart that turned back in the direction of the trend on the 15 min. Able to get in and out quickly using a buy stop above the red candles of the pullback.

Added an indicator that shows today's open (blue line), yesterday's close (green line) and yesterday's high and low.

Papa14

Attached Thumbnails
Papa's Trading Journal-june16es.png   Papa's Trading Journal-june166b.png  
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  #23 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

Some days you get the bear, and some days the bear gets you....


I let the ES gap trade go today. The response to the news at 0830 actually filled the gap and then it reopened by the time the market opened. I just was not comfortable with it and left it alone. I then watched the market for 30 min or so, and just after 10 am, saw a pullback on the 6B. I put a buy stop in at 1.4830 and waited for the fill. It did not take long, and the market just jumped in my direction....for a whole 3 or 4 ticks before it rolled over and nose dived. Market just went down and stopped me out. At entry, 5 min and 15 min charts indicated up trends, with 5 min in a definite pullback. A good setup, just did not work.

With 20/20 hindsight, a better entry would have been above the previous high (1.4836). Had I put it there, I would not have entered the market and thus would have missed the loss. Second item to note, is there was a news release at 10am and the market had not settled down from that announcement. There should have been a no-trade window around 10am (I knew about but just ignored it in the moment). I am writing about it to confess my error and write it firmly in my mind for future use.

Did a couple of trades later to mitigate this one. Will trade very lightly, if at all, tomorrow in respect of Options Expiration day volatility. Who knows where the market makers will take us?

Papa14

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  #24 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

Have you ever drifted from your original intentions?

I started reading AZTrader's journal Friday and that linked to his elite journal. I read that with keen interest. It surely made me stop and think and I realized how far I have drifted from the original intentions I stated in the beginning. My underlying motive for trading remains the same. I just have been adding to charts and techniques at a rather brisk pace, and then when things don't add up as I expect they should, what is the matter? Don't know. Could be anything or everything or nothing.

Anyway, I decided last night that this is not a good week to trade real money. Too many distractions (refinancing the house, traveling to CA for birth of #15 grandchild, gotta pack, etc) and too many techniques and instruments. I am going to papertrade when I can, and look at 6B as the primary instrument of choice. I want to develop the skill to trade multiple contracts and that is my preferred instrument to do that. May not be many charts/journal entries this week.

Papa14

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  #25 (permalink)
Elite Member
Italy (IT)
 
Futures Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker/Data: Rithmic
Favorite Futures: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 974 received

Good choise Papa, may focus on one technique with u fell better, and only one instrumet at time.

Luke.

Take your Pips, go out and Live.
Luke.
 
  #26 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
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papa14 View Post
I started reading AZTrader's journal Friday and that linked to his elite journal. I read that with keen interest. It surely made me stop and think and I realized how far I have drifted from the original intentions I stated in the beginning. My underlying motive for trading remains the same. I just have been adding to charts and techniques at a rather brisk pace, and then when things don't add up as I expect they should, what is the matter? Don't know. Could be anything or everything or nothing.

Anyway, I decided last night that this is not a good week to trade real money. Too many distractions (refinancing the house, traveling to CA for birth of #15 grandchild, gotta pack, etc) and too many techniques and instruments. I am going to papertrade when I can, and look at 6B as the primary instrument of choice. I want to develop the skill to trade multiple contracts and that is my preferred instrument to do that. May not be many charts/journal entries this week.

Papa14


Excellent choice Papa15! I think you are on the right path, If the indicators are not helping, get rid of them. A naked or almost naked chart is best. 6B is good to trade, I think you will do well if you focus on it and really make it your own.

Congratulations on number 15!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #27 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,357 given, 83,237 received

Congrats on #15 Papa

Send me a PM if you want your nick changed.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #28 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

Name has changed

In case you didn't notice, the name has changed to Papa15. (thanks BM for the name change) #15 was born Monday. He weighed 9lbs 6 oz and is 22 inches long. Mom (my daughter) and son are doing fine.

I have not been following the markets all day. We are visiting her family at Edwards Air Force Base in Ca. It is truly a sunny (and hot) place. I get up around 6am PST. i am focusing on looking for the CL inside bar trades Jeff discusses in the Three Setups thread. It has worked well for the last 2-3 weeks I have followed it. I love the simplicity of it. Straightforward guidance, very little subjective criteria. Add it as a tool to your toolbox if you have not looked at it.

Papa15

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  #29 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,357 given, 83,237 received

Congrats again papa15.

Feel free to share some pics

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #30 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

#15 is now home


I didn't trade today. The market was in one of its funks and I am leery of these types of markets (sudden reversals followed by resumptions). Days like this are better left for those more experienced and capitalized.

Grandson #8 (grandchild #15) came home today. Here are a couple of photos of the family.....

Attached Thumbnails
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