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A Cowboy's Trading Journal

  #741 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
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bmtrading9 View Post
Ron,

I am very sorry, I couldn't get back to you yesterday night due work and personal reasons. Looks like it's moot point now as price is back Monthly VWAP and bounced again as I was expecting but didn't execute it. If you see these instruments mainly oil and mini Russel and few other instruments it's like a clock work but I don't know why I don't have trust in my analysis I keep on missing these moves. Of course, we have been in the mindset of it's bad to catch a falling knife etc etc. but you can do it with certain levels almost 98% certainty just need to have a plan to scale in at different levels for worst case scenarios. I do have a question for you regarding order flow readings. Now, since I know what levels to look and trade but only thing my mind is looking for that confirmation which I believe I can get using order flow (at least it soothes my mind ). Since I can't watch these levels all day long, I just want to use 5000 or 10000 volume charts and find out absorption at these levels here is MultiCharts volume delta chart would you be able to point out how do you read this chart wrt absorption.


Here is my absorption analysis on ES....

Almost to 55 as I type this....




Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #742 (permalink)
 bmtrading9 
Atlanta, GA, USA
Market Wizard
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
Posts: 1,833 since Mar 2013
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This market is resilient, exited my YM short for loss. Freaking had all day to go down but no selling...Had multiple chances to close it for profit but when I chickens out I am regretting when I don't also I am regretting so I don't know what else I can do... Anyway not a good week but not that bad also. Need to re assess what I am doing, why I am still fearful etc etc.

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  #743 (permalink)
 bmtrading9 
Atlanta, GA, USA
Market Wizard
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
Posts: 1,833 since Mar 2013
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Monthly and Weekly - As of now BIG indecision, will it come down it's absolutely possible but OPEC cuts are negating huge oil pileups. I firmly believe market is negating these huge oil inventories every week because it's waiting for these spring and summer months to keep rolling and expecting drop in oil inventories so that OPEC cuts will help the price to move UP. That's my 2 cents on BIG picture.




Daily- One ugly chart, Oil has to come below those MS's (50 and 21...I know I know) for big guys to push it down to 200 MA.



1 Hour chart - This chart is the key for me...In a range bound market price keeps coming back to weekly VPOC's...It happened in last two weeks...I don't have any stats and I haven't done extensive back-testing so don't hold gun to my head. Based on that I am expecting month to be closed somewhere between 53.53 and 53.35.

Trading - I don't have a freaking clue. Price closed near weekly LVN and WVPOC. One thing we all know is don't trade when price is near VPOC and VWAP unless you have some insider information.

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  #744 (permalink)
 bmtrading9 
Atlanta, GA, USA
Market Wizard
 
Experience: Advanced
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Trading: ES, MES
Posts: 1,833 since Mar 2013
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I should change my name to

FOLLOW THE DAMN PLAN

Anyway, short YM again this morning.

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  #745 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
Platform: Sierra, TT
Broker: N/A
Trading: Spread Researcher and crypto degen
Posts: 654 since May 2013
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I traded CL for a while but find NG easier to trade.. NG seems to respect my levels better. and is smooth when it really trends. and when it reverses.. it goes for a while

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  #746 (permalink)
 bmtrading9 
Atlanta, GA, USA
Market Wizard
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
Posts: 1,833 since Mar 2013
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Thanks Received: 2,159


jokertrader View Post
I traded CL for a while but find NG easier to trade.. NG seems to respect my levels better. and is smooth when it really trends. and when it reverses.. it goes for a while

Do you trade big contract? I just started this so trading qg instead of ng. Now, I guess I am going to take a break form it in summer months as my mentality is to find reversal and this can hurt more.

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  #747 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
Platform: Sierra, TT
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Thanks Given: 545
Thanks Received: 360

i follow VWAP bands and opening range and its usually good.. how do u trade? what indicators? i can post a chart here as well if u like

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  #748 (permalink)
 bmtrading9 
Atlanta, GA, USA
Market Wizard
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
Posts: 1,833 since Mar 2013
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Thanks Received: 2,159


jokertrader View Post
i follow VWAP bands and opening range and its usually good.. how do u trade? what indicators? i can post a chart here as well if u like

Please post a chart, I am trying to be swing trade but these days markets are not favorable for swing trading. I use VWAP bands too but use monthly and weekly bands along with Vol profiles etc...

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  #749 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
Platform: Sierra, TT
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Let me see tomorrow or Wed for clean movement and i will post the chart..maybe easier to track .. instead of all the chop

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  #750 (permalink)
 bmtrading9 
Atlanta, GA, USA
Market Wizard
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
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bmtrading9 View Post
I should change my name to

FOLLOW THE DAMN PLAN

Anyway, short YM again this morning.

As per the plan, I have a target of 20400 (I must be dreaming )...let's see if I have balls to hold this. Currently have TWO contracts ONE at BE+1 tick and other is my main position, which I am ok to take some heat on it if necessary.

I MUST learn to trade around my BIAS and POSITION.

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