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GruttePier's trading journal to getting profitable
Started:October 11th, 2015 (12:20 PM) by GruttePier Views / Replies:38,696 / 733
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GruttePier's trading journal to getting profitable

Old September 12th, 2016, 12:09 PM   #571 (permalink)
Market Wizard
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Sep 12th prep

Market overview (11 am / 17.00 CET)
- Japan, down 1.7%
- China, down 3.3%
- Europe, down 1.1 Ė 1.5%
- Oil, up 0.7%
- Gold, down 0.4%
- Bonds, down 4/32

Overall sentiment is negative.
No news expected today.

Important price levels
- 2154. SR level, lower side of the Range of Boredom
- 2142. SR level of Aug 2nd, swingpoint last Friday
- 2107. SR level
-

Overnight made a new low.
Upon the opening, price trended up towards the PP. Then broke down with force towards the OR.

The price move on Friday happened on average volume, not on above average volume.
I donít think a major sell-off has started.

I thought this weekend that price would test the 2142 price level, before testing the lows again.
Itís 1.5 hour after the open, and I still feel this bias is right.

Iíll be looking for longs, until the 2142 price level has been tested.

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Old September 12th, 2016, 12:27 PM   #572 (permalink)
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bobwest View Post
I have wondered if you would find a way to put both your job and the open together. It may be tough, but I am very interested to see what you can make of it. An excellent idea, I would say. It should yield some great results.

I'm also smiling to see that someone else likes @Inletcap's original journal. I think it was excellent, and I was very taken by it and read every post. I was a little sorry when he got respectability and moved to the spoos thread ().

Fortunately, he soon became less respectable again, and is still interesting -- in fact, more so....

Good work, and good luck with your new trading hours. I hope you find many opportunities there.

Bob.

Accepting the new job opportunity felt like a catch-22: The job position that I wanted versus less trading. Anyway, Iíll figure something out. Worse case Iíll be trading less. As long as Iím able to trade 1 or 2 openings in a week and 1-2 afternoon session Iím fine and will still be learning.

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Old September 12th, 2016, 12:42 PM   #573 (permalink)
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Inletcap View Post
Just spent the last 30 or so min reading my old journal. Funny, I was actually saying- no, no- don't do it- look out a couple of times and spotted a ton of over trading, not holding on to winners (of course with excuses), fear, and saw some definite ego trading closer to the end. I was most shocked when I looked at the dates and recognized that those posts were not too distant ( it truly feels like it was years ago). Also found it interesting that I had some oil posts and actually said I was always interested in trading oil. I was always afraid to trade CL until I "met" @michaelleemoore in TSJ. Most amazing to me was to look at my position size- I've always felt that I moved up slowly but seeing that I was trading 2 lots < 2 years ago was a shocker!! It's really cool to have that journal to look back on and see some major changes- wish I had continued posting there a bit as its too hard to read the spoos thread given the sheer size of it.. I really wish I had posted from the very beginning so we could all have some good laughs today

Gotta love starting off talking about Fibs and harmonic patterns I could see as I was reading that I was beginning to abandon them when I first started the journal (prior trading was all harmonics and fibs on 610 tick charts)- I could tell that I still was looking at the patterns but my trading was based off "other" things. Still funny to read Hartley and butterfly and pattern completion zone....

Thanks for bring this up.

What inspires me from your old journal are couple of things.

First of all, you were not born as a super-trader. The journal describes your journey in trying out various stuff like patterns and fibs (!!! ). It also shows that your final breakthrough was scaling. Atleast, thatís what I understand that you were focussing on near the end of your journal.

Itís only 2 years ago. In other words, youíve been able to make a transition from an already good 2-lot trader to this exceptional trader you are now. I know you had to put in really a lot of effort, but you did it. It can be done. I find this very motivating.

And finally, you put your charts with exact entries and exits there. I know how you trade already, but seeing the actual charts is very helpful. I can almost read your thoughts when looking at the charts. One can debate if the actual charts are helpful or not, but I find them very helpful and motivating.

Thanks again!

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Old September 12th, 2016, 12:50 PM   #574 (permalink)
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GruttePier View Post

And finally, you put your charts with exact entries and exits there. I know how you trade already, but seeing the actual charts is very helpful. I can almost read your thoughts when looking at the charts. One can debate if the actual charts are helpful or not, but I find them very helpful and motivating.

Completely agree on this.

It's sometimes a pain in the ass to mark up a chart with the trades, especially when there are a lot of them. But it helps me when I am doing it -- I understand better what I did well or poorly -- and also when I am reading someone else's journal, because you see what they saw and when, and how they responded.

I agree with the rest of what you said too, but this in particular.

Bob.

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Old September 12th, 2016, 01:28 PM   #575 (permalink)
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bobwest View Post
Completely agree on this.

It's sometimes a pain in the ass to mark up a chart with the trades, especially when there are a lot of them. But it helps me when I am doing it -- I understand better what I did well or poorly -- and also when I am reading someone else's journal, because you see what they saw and when, and how they responded.

I agree with the rest of what you said too, but this in particular.

Bob.

When using Ninja, would plotting the executions help? In the Data series section at the bottom?

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Old September 12th, 2016, 01:31 PM   #576 (permalink)
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GruttePier View Post
And finally, you put your charts with exact entries and exits there. I know how you trade already, but seeing the actual charts is very helpful. I can almost read your thoughts when looking at the charts. One can debate if the actual charts are helpful or not, but I find them very helpful and motivating.

Thanks again!


bobwest View Post
Completely agree on this.

It's sometimes a pain in the ass to mark up a chart with the trades, especially when there are a lot of them. But it helps me when I am doing it -- I understand better what I did well or poorly -- and also when I am reading someone else's journal, because you see what they saw and when, and how they responded.

I agree with the rest of what you said too, but this in particular.

Bob.

I quit posting my ES trades as my size grew and it became more my personal business income. Some things are a little more private than others and there has been some serious bashing (of myself and others) in the past for showing trades by guys who were offended by seeing positive results; At that time I was trading 6 lots- I cannot imagine the eat shit PMs and statements of disgust I'd receive now- I do show some CL trades but you have likely noticed I do not show them when I trade a decent size- this is due to all the negativity that can arise- if fact, this morning I disclaimed that I was "not boasting but rather posting for others to see scaling" ~ pretty sad that it has come to that necessary disclaimer in the world we live in... I try to be pretty explicit and timely as to my trade locations and rationale- there are times that I add considerable size to a working trade temporarily that I do not mention but that's just pushing a working trade and the key levels and rationale did not change- If you had a blank 2 minute chart you could probably see what I'm doing by adding a mark around the areas I mention as trade locations(specific fill price is really not important)- maybe I'll manually mark one in my journal in my daily recap if I go that route.

Thanks for all your kind words- it's a very nice compliment to hear that others like what I post/have posted and know that I'm not viewed as the Crazy Pilot emoji

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Old September 12th, 2016, 02:14 PM   #577 (permalink)
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Inletcap View Post
I quit posting my ES trades as my size grew and it became more my personal business income. Some things are a little more private than others and there has been some serious bashing (of myself and others) in the past for showing trades by guys who were offended by seeing positive results; At that time I was trading 6 lots- I cannot imagine the eat shit PMs and statements of disgust I'd receive now- I do show some CL trades but you have likely noticed I do not show them when I trade a decent size- this is due to all the negativity that can arise- if fact, this morning I disclaimed that I was "not boasting but rather posting for others to see scaling" ~ pretty sad that it has come to that necessary disclaimer in the world we live in... I try to be pretty explicit and timely as to my trade locations and rationale- there are times that I add considerable size to a working trade temporarily that I do not mention but that's just pushing a working trade and the key levels and rationale did not change- If you had a blank 2 minute chart you could probably see what I'm doing by adding a mark around the areas I mention as trade locations(specific fill price is really not important)- maybe I'll manually mark one in my journal in my daily recap if I go that route.

Thanks for all your kind words- it's a very nice compliment to hear that others like what I post/have posted and know that I'm not viewed as the Crazy Pilot emoji

I will tell you that many, many people here like what you do and have benefited from your posts.

I do entirely believe and understand about the [expletive deleted] morons who gave you grief because you made money. I recall that @Big Mike got a ton of it when he was posting his daily and monthly brokerage statements, simply wanting to show that it is possible to make a profit at trading. All the garbage slung his way was a part of his deciding to stop.

Screw 'em, Captain.

But, only publish what you would be comfortable with, and what you know you can put out there without attracting the attention of the scumbags.



Bob.

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Old September 12th, 2016, 03:27 PM   #578 (permalink)
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Sep 12th

Started trading just before 11 am, just after the big red 10 point bar has been finished. Thinking, what the hell happened. No news has been released. In line with my long bias, I’m taking a long (trade #1) entry just above the opening range / yesterday’s close. Price moves in my favour. I decide not add, but what for another pullback to add. Price hits my profit target at VWAP. Profit +3.75 points.

Price is chopping around the VWAP. It seems price is missing the momentum to pullback to the OR again. Taking another pilot long (trade #2). Add (profit target PP) when momentum picks up and $tick is confirming with higher lows. Profit target on contact #1 (+3.75 pts). Momentum is leaking away, price is chopping around ADR high, a $tick divergence is showing and it’s dinner time. I decide to close it with a small profit (+1.25 pts). Profit +5 points

Had a quick peek at the market just before dinner and noticed RVOL and $tick getting stronger on sideways chop. Couldn’t help myself and took a long (trade #3). Added (profit target 2042) on momentum. Profit target #1 hit (+3 points). Move stop to breakeven and go for dinner. Profit target #2 hit (+5.5 points). Total profit +8.5 points.

I return from dinner to see that price has pulled back to VWAP, tested the 42 price level again and broke through it. It’s been a while since price was that strong. I can wait for a pullback (to weekly PP perhaps) to take another long. Since the range is almost 3 times the ADR already I decide to quit and enjoy thinking about my 2nd biggest day

Total profit: +17.25 points

Hindsight wisdom:
All nice small trades, but I should have stayed in trade #1 and #2 until the 42 price level was hit. This day clearly shows that I’m cutting my winners and there is much & much more potential on days like this.

Today was a nice example of starting late (1.5 hour after the open) but trading for a short period of time.
You don’t hear me complain if I can combine days like this with my job

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Last edited by GruttePier; September 12th, 2016 at 03:49 PM.
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Old September 12th, 2016, 04:42 PM   #579 (permalink)
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GruttePier View Post

Had a quick peek at the market just before dinner and noticed RVOL and $tick getting stronger on sideways chop. Couldnít help myself and took a long (trade #3). Added (profit target 2042) on momentum. Profit target #1 hit (+3 points). Move stop to breakeven and go for dinner. Profit target #2 hit (+5.5 points). Total profit +8.5 points.

I return from dinner to see that price has pulled back to VWAP, tested the 42 price level again and broke through it. Itís been a while since price was that strong. I can wait for a pullback (to weekly PP perhaps) to take another long. Since the range is almost 3 times the ADR already I decide to quit and enjoy thinking about my 2nd biggest day

Total profit: +17.25 points


Yup- You graduated today! Your contextual read was strong and you believed in it to the point you didn't even have to think- saw a simple setup you liked and took it as it was in the direction of your thesis- you could care less about getting a precise price and just pushed the button to play along!!! I love reading this... Easy as 1-2-3... Context-> Trigger-> Execution Nothing more and nothing less- You have come a long way my friend, congrats!

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Old September 13th, 2016, 12:06 PM   #580 (permalink)
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Sep 13th prep


Market overview (11 am / 17.00 CET)
- Japan, up 0.3%
- China, down 0.3%
- Europe, down 0.5 – neutral
- Oil, down 2.8%
- Gold, up 0.2%
- Bonds, down 5/32

Overall sentiment is negative.
Slightly negative news released this morning.

Important price levels
- 2142. SR level
- 2110. Yesterday’s RTH low
- 2100. Yesterday’s ETH low

Overnight made new lows.
Upon the opening, price retraced to PP, then dropped down. Price has pulled back to VWAP and went down towards S1.

It’s a C_DOWN day sofar. I’m not expecting price to test PP again since it’s too weak.
$tick is negative alday and RVOL is above average.

I have a short bias today and expect price to test yesterdayīs low.

I will be looking for a pullback to take shorts. Just missed the pullback to the VWAP. Maybe itīll pullback to -1SD, that would be a nice entry level to the way down.


Last edited by GruttePier; September 13th, 2016 at 12:16 PM.
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