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Papa's Trading Journal
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Created: by papa15 Attachments:174

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Papa's Trading Journal

  #421 (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

Three good days in a row. Again started off with 2 losers. I find the hour from 9am to 10 am a bit harder to trade. I guess I am a bit impatient to get in and don't screen the trades quite as carefully. The first trade was a pullback on the 4 BetterRenko chart, but the morning chop just did it in. The second was a pullback entry on the 5 minute chart. I entered with a 19 tick target and 14 tick stop...the market went up a few ticks bringing the trailing stop with it and then on a retrace I was stopped out. Even with a 14 tick stop I would have stopped out.

After starting off 0 for 2, I became a bit more cautious, and went 8 for 9 and ending up 53 gross ticks for the day.

Again, I did more trades than I would prefer, but again I was adjusting my ATM strategy. I was going to breakeven at the 6 tick profit point, but I am finding that is a bit too tight. I have not found the sweet spot yet. I am not in a rush to get back to cash, so I want to take the time to hone this in and really get used to the setup in different conditions.

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
Attached Thumbnails
Papa's Trading Journal-cl428.png   Papa's Trading Journal-428performance.png  
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  #422 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

Have you tried the "Momentum" bar type?

I find I like it a bit better than Renko these days.

 
  #423 (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


No I have not. I am content where I am at now......thanks for the suggestion though

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
 
  #424 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


papa15 View Post
No I have not. I am content where I am at now......thanks for the suggestion though

Just curious. Not trying to get you to change, but curious if you evaluated or not. I am finding them interesting for certain readability.

 
  #425 (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

No real trading today....was a bit distracted by other things. Had a good week. Still getting familiar with the BetterRenko bars and working on finding the sweet spot for my ATM strategy. My goal there is to reduce risk but leave the best opportunity for a good gain. The options are practically limitless but I am not going to explore that many. It could end up being something as simple as a 15 tick stop and 15 tick target, but no more complex than what I initially tried (started with a simple trailing stop, went to breakeven after 6 ticks, then a trailing stop after 8 ticks).

The goal next week is to trade as if cash, limiting the number of daily trades, adhering to all rules.

Overall a good week. I like the setup (one chart, simple indicators, simple rules); it fits a simple mind.....

Have a great weekend everyone....

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following 5 users say Thank You to papa15 for this post:
 
  #426 (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

Really nothing to report today. I tried several different profit targets and stops on the ATM. No final conclusions yet. To be honest, I am leaning more to just using a fixed target and a fixed stop while trading one contract. But I am very happy with the overall setup; just getting the final touches on the ATM in order to be done.

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following 5 users say Thank You to papa15 for this post:
 
  #427 (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

I had short day today as I had a doctor's appointment. Used smaller targets than previously, went 3 for 3 and ended up with 25 ticks. Getting fairly comfortable with the one contract setup on the ATM; really very simplistic.

I am putting an additional moving average on the chart, a 120 period SMA. Looking to make sure I trade only with a higher trend. I just want to see the overall market direction and go along for a little ride......

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following 4 users say Thank You to papa15 for this post:
 
  #428 (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

Continued to refine the ATM. Added a target chase feature for when the profit target is touched but not filled and also add a breakeven plus 2 ticks for when the target is hit. I think that about does it for the ATM as long as I am on one contract.

Will focus on refining the entries to get more exact. I had 2 charts side by side today. A 4 range BetterRenko and a 10 range BetterRenko. Using the same entrance criteria, the 10 range chart gave clear entries and smoothed out a lot of chop. I am not overly fond of 20 tick stops, so I may look to find a more likeable stop on the smaller chart. The larger chart gives fewer entries, but also does not suffer as much from tick to tick chop.....

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following 4 users say Thank You to papa15 for this post:
 
  #429 (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

Another good day. It was a short day for me since I had another doctor's appointment. I used the 10 BetterRenko chart in conjunction with the 4 BetterRenko with good success. I am not going to get too excited though, since in a sell off like today, just about anything would work as long as you are on the right side of the market.

My ATM strategy worked. A couple of trades had the profit target chase feature activated. Any way, ended up taking 8 trades for 53 ticks....

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following 4 users say Thank You to papa15 for this post:
 
  #430 (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


Overall a good week. Monday through Thursday morning, was up 95 ticks. I left for a doctor's appointment yesterday before the big sell off, so I missed that. Figured today would be a retracement of that; I found the market just too fast for my liking. I would see a potential setup forming, but then price would just jump past the potential entry. Just best to leave well enough alone.

I am really beginning to like the NT platform more and more. The charts to me just have a more eye pleasing look than Sierra Charts. I really like SC, but for now, I think I will be live on NT. My plan is to go live some time next week, but probably not Monday.

Any way, hope everyone has a pleasant week end. If your mom is still alive, be sure to wish her a Happy Mother's Day.

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following 4 users say Thank You to papa15 for this post:

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