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A Cowboy's Trading Journal
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A Cowboy's Trading Journal

  #1 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

A Cowboy's Trading Journal

This journal is long due, I am trying to improve my trading. I think documenting the journey would help me to achieve my goal.

My Mindset I want to buy low and sell high (that makes me the one always fighting the TREND)
I will be very uncomfortable/fearful/dreaded BUYING at highs i.e breakouts or buying at all-time highs or near all-time highs or 52 week highs. At the same time I am very comfortable SHORTING at highs and needless to say that was not at all a good idea in last five years.

I will be very uncomfortable/fearful/dreaded SHORTING at lows.

I dont mind averaging down in the HOPE of getting back to breakeven and in the process of going thru hell lot of pain
and mental agony and missing the meat of the move by selling the position once I am at break even.

I always enter the trade a bit early and get out of it a bit early (This is direct result of position size and leverage I
understand that).

This makes me the guy who always looks for mean reversion.

What I learned so far

One can fight the trend if he/she have huge margin but with small account you simply cannot.

I need a stop-loss preferable mental one because hard stop-loss always gets me (I mean literally every time).

Be fast and adaptive to the changing markets.

I MUST follow a method and stick with it and that method must include a stop loss.

My Method (Still developing)

Combination of Buying/Trading Value, trend following, monitoring market internals and mean reversion.

Tools selected - Auction Theory using mainly Volume Profiles (Different time-frames), sometimes Market Profile using
range bars and HA candles for visualizing trend.

Platform TOS ( I tried other platforms somehow I keep coming back to TOS so going to stick with it even though
its not great for Volume Profiles but I think its not that bad).

Future improvement Will try to incorporate Volume Foot Print chart and cum delta volume to identify reversals
(But might have to wait for TOS. I can go to NT or Market Delta but both needs monthly subscriptions to data and
platform so not ready for that yet).
---------------------------------

I started this journal on August 15th, 2015 seeking freedom from my bad habits in trading specially

1. Counter trend trading (Looking for mean reversion trades)
2. Loss aversion (Fear of taking losses)

What I learned so far from all these good folks like @Inletcap, @Big Mike, @tigertrader, @rahulgopi, @Pariah Carey, @bobwest, @choke35, @Narcissus, @GruttePier and numerous others on FIO

CONTEXT IS EVERYTHING so what is CONTEXT? If we simply do a google search we will find numerous examples etc etc but there is no
fixed definition of context related to trading so each one has to find there OWN definition of context to get better at trading.

So for me CONTEXT means finding what is DRIVING the market at the bigger level and at the day to day level.
There can be numerious driving forces but KEY is to find what is the driving factor NOW and using that in your trading.

Few examples of driving forces are Central Bankers, QE, OIL correlation, USDJPY correlation, BONDS correlation,
Small caps correlation, Banks, Techs etc. KEY IS FINDING WHICH ONE IS RUNNING THE SHOW NOW.

---------------------------

In TRADING everything is WORK IN PROGRESS so don't take anything RIGID and one must be flexible and adjusting all the time
And
It's not about the METHOD it's all about your MIND and EXECUTION

Swing Method - SMI Overbought and Oversold Method (Trade Marked )

Time Frame - 2 hours
Instruments Prefered - TNA, TZA, SPXL and SPXS (If comfortable use ES/YM etc)
Indicators (I know...) - Stochastic Momentum Index (settings on TOS/MC 13, 11, 1) and maybe use Weighted Moving Average (180)
Stop Loss - trailing stop of $1000 on YM
Scale in - One can scale in at comfort
Hidden variable for entry and exit - CURRENT CONTEXT

Entry Long - Simply enter when SMI crosses above -80 from below or much better entry would be based on context wait for divergence
Entry Short - *Always be careful with shorting* Simply enter short when SMI crosses below 80 from above or much better entry would be based on context wait for divergence
Exit - This is tough because one must use there own method. I prefere to exit and re-enter based on ADR_H and ADR_L, 180 WMA and CONTEXT.

Backtesting done? - Partially yes using Multicharts with trailing stop of $1000 using YM.

Why SMI indicator? - Because inheriently it uses ADR in the formula.


Swing Method - The Natural (Trade Marked )

My sincere thanks to @Pariah Carey for this method

Time Frame - 25 mins
Instruments prefered - YM and QM
Indicators - 180 period weighted moving average

Entry (Long/Short)

1. Price must close above/below 180 period WMA
2. Enter at next round number (i.e for example on YM enter at 16100, 16200, 16300 etc. for oil 30, 31, 32 etc. )

Exit

CONTEXT/ADR_H or ADR_L/approaching Overbought levels on SMI (above settings)/to keep it simple exit at $1000 profit

Stop Loss

Always place a stop loss at next round number (+ some buffer) above or below entry based on short or long


Last edited by bmtrading9; February 25th, 2016 at 05:24 PM. Reason: added context related
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  #3 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

Swing Trading Method


Swing Trading Method

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  #4 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

Short term/Day Trading/Intraday Trading Method

Short term/Day Trading/Intraday Trading Method

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  #5 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

Futures Edge on FIO

What value do you place on the webinars on FIO?

 
Place holder for future post

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  #6 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

Must control this...

Had short bias on ES/YM on Friday but didn't took it because of weekend...looking for reversal this morning somehow missed but took a short on YM at 17465 went up to 17489 but now at break even...looking for VPOC at 17430 or stop out at highs.

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  #7 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

Right now some internals are improving and I am getting nervous...

Reasons to enter a trade

1. Too fast rise
2. In a range market try to fade at top

Reasons for nervousness

1. Going against trend

2. Afraid it might become a trend day

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  #8 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

Can't handle pressure so put a hard stop at 17490 (Might not be a good idea) don't want to risk much.

This is what I want to control and I am hoping by this journal I will get some help.

Edit: Market internals are all over the place...might still be a range day

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  #9 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary

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Stopped out while at gym...

Sent from my SAMSUNG-SM-G900A using Tapatalk

Lost 25 points on YM, not a big dent but this is what I need to control...


Last edited by bmtrading9; August 17th, 2015 at 01:48 PM.
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  #10 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,677 since Mar 2013
Thanks: 2,724 given, 1,864 received
Forum Reputation: Legendary


I am back short YM at 17481 and ES at 2095.75 ideally I want these two close below in next 30 mins or else again I have to take a bite and call it a day...

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