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GruttePier's trading journal to getting profitable
Started:October 11th, 2015 (12:20 PM) by GruttePier Views / Replies:38,364 / 730
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GruttePier's trading journal to getting profitable

Old September 28th, 2016, 04:30 PM   #601 (permalink)
Market Wizard
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Sep 28th

Started trading at 11am.

Price tested the ON high, then fell through the 2146 level on high RVOL indicating strong selling.
Looking for a short. Took a very, very, very sloppy entry which I regret immediately (#$%#$%). Increasing risk to 4 points (just above -1sd) to give the trade more room. Iíll reverse if the 46 level holds. $tick is strong, price just made a higher low and aggressive buying in T&S. Reversing position to long. My bias has switched as mentioned in the prep. Loss: -3.25 points.

Waiting for momentum to kick in, added when it did. Profit target #1 hit. Forgot to move stop to breakeven (which is my current practice), contract #2 is now in loss. This is my second trade error today. Price still looks strong though despite the pullback, add. Profit target #2 hit, moving stop of #3 to break even. Closing #3 at PP weekly instead of ONH (bird in the hand). Profit: 3.25 + 2 +4.25 = 9.5 points.

Back from taking kids to bed. I see that price has hit my initial ONH profit target 
Price is chopping above OR with high RVOL, looking ready for a breakout. Taking a sloppy entry to get on board of the move towards the 65-67 area. Price moves in my favour (missing profit target by 1 tick), add on the pullback to R1. Profit target #1 hit. Closing #2 with small loss. Profit: 3 Ė 2 = 1 points.

Despite the trade errors, a nice day.

Look at the trades on my trade chart, itís finally starting to look like @Inletcap Ďs charts with scaling in and out #missioncompleted

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Old September 28th, 2016, 04:40 PM   #602 (permalink)
Market Wizard
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Despite the trade errors, a nice day.

Look at the trades on my trade chart, itís finally starting to look like @Inletcap Ďs charts with scaling in and out #missioncompleted


Letting loose- looks good! Today had something for everybody- that OPEC news sucked me back when I thought my day was over.. Good trading- nice read on the bottom being put in- I see you mentioned the momentum press #daymaker

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Old September 28th, 2016, 04:57 PM   #603 (permalink)
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Letting loose- looks good! Today had something for everybody- that OPEC news sucked me back when I thought my day was over.. Good trading- nice read on the bottom being put in- I see you mentioned the momentum press #daymaker

Thanks.
I'm not following CL, but I see it made some big moves.
Hope you made a killing today!

Enjoy the Crown Royal(s)

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Old September 28th, 2016, 05:35 PM   #604 (permalink)
Trading for Fun
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Nice trading today!

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Old September 29th, 2016, 10:31 AM   #605 (permalink)
Market Wizard
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Sep 29th

Futures Edge on FIO
Market overview (9.30 am / 15.30 CET)
- Asia, up 0.5 Ė 1.3%
- Europe, up 0.4 Ė 0.8%
- Oil, neutral
- Gold, down 0.2%
- Bonds, down 7/32

Overall sentiment is positive.
Many news releases today.

Important price levels
- 2185. ATH
- 2157-58. SR level + ONL
- 2153-54. SR level + weekly PP

Overnight made a small higher high, then dropped to the 57-58 level.

Iím expecting price to test the downside (57-58 or 53-54) level first and then move up.
I will be looking for longs initially. Nice areaís to enter are the 57-58 and 53-54 levels.

Happy trading all!

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Old September 29th, 2016, 01:10 PM   #606 (permalink)
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Sep 29

Started trading at the open.

Price drops a little, but does not make it all the way to the 57-58 level. Taking a pilot long (trade #1). $tick looks weak, but price feels strong. Waiting for momentum to kick in so I can add a contract. Price is very choppy and RVOL is at 67%, I don’t think there is going to be a large daily range. Add 2nd contract. Profit target #1 hit. Added on momentum. Price pulls back to VWAP though, stopped on #2. Price moves a little up to OR high, then pulls back swiftly. Stopped on #3 also. Profit: 3 – 2.5 - 5 = -4.5 points.

Price seems to find support at OR high and moves up on high $tick and RVOL. My bias is still valid, taking a long (trade #2). Add on momentum. Profit target #1 hit. Price makes a double top at HOD. $tick is strong and T&S looks like the HOD will be taken out, add #3. Didn’t make it, price pulls back to VWAP. Stopped. Profit: 3 – 3.25 – 5.25 = -5.5 points.

My bias has changed to the negative. Price made a double top, but sellers keep stepping in. Taking a short (trade #3) towards the 57-58 level. Profit target hit. Profit: +3 points.

Looking at the P&F, I still believe in my initial bias of price finding buyers at the 57-58 level. Taking a long (trade #4). Add just below PP. Profit target hit. Profit: 3.5 + 4.75 = +8.25

Pfff… I managed to crawl out of the hole. Total profit today is 1.25 points
The problem was the adding the 3rd contract on setup 1 and setup 2 while it was a range day. I mentioned this in my log, but did not realize this when adding the 3rd contract.

Anyway, I’m done for today. The profit target got hit just in time since kids are calling for dinner.
Since I’m not able to trade this afternoon or tomorrow, my trading month has ended.
This is my best month ever with 39.5 points of profit and only 1 losing day!
I also feel very confident in my trading. Maybe it’s the winning streak that I’m in, but I have not had this feeling of confidence before.

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Old September 29th, 2016, 01:30 PM   #607 (permalink)
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This is my best month ever with 39.5 points of profit and only 1 losing day!
I also feel very confident in my trading. Maybe it’s the winning streak that I’m in, but I have not had this feeling of confidence before.

This is great to read. Well done, the Cap now fits you as well as him.

Well of course I mean 'as well as' not 'as well as'...

Travel Well
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Old September 30th, 2016, 08:27 AM   #608 (permalink)
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Anyway, Iím done for today. The profit target got hit just in time since kids are calling for dinner.
Since Iím not able to trade this afternoon or tomorrow, my trading month has ended.
This is my best month ever with 39.5 points of profit and only 1 losing day!
I also feel very confident in my trading. Maybe itís the winning streak that Iím in, but I have not had this feeling of confidence before.

Good results in a good month. Very happy to read and follow along in your journal as you make the changes you are making to a consistently profitable trader.

Bob.

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Old October 2nd, 2016, 09:48 AM   #609 (permalink)
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September evaluation

While the total profit of 39.50 points is only slightly higher than March and June, this is my best month ever for several reasons:
- I traded only 10 days instead of an average of 15 days. Of the 10 days, there were only 4 morning sessions (before 10 am). A morning sessions provides far better opportunities than the afternoon session where the volumes are lower and the day is mostly already “done”. Sofar I’m happy with the combination of my new job and trading
- The daily range (time window that I was in the market) has increased, so has my profit as a percentage of the daily range -> 30%. My goal is to make as much as the daily range, so I’m on my right path
- For the first time I had a strong feeling of confidence of my trades working out. I don’t think it’s because of the winning streak. It has more to do with a strong confidence in my bias and setups. I’m taking entries with confidence and then just sit back and watch the setup to work or not. If it doesn’t work, I’m ok with that. If the setup does work, I know what to do next: the emotionless regime of adding another contract, profit target on 1st contract, move stop, add, scratch, etc

Of course there are a couple of side notes:
- My risk per trade as increased from approx. 2.5 to 3.5 points per trade. One can argue that is the prime reason for the better results, but I got stopped in almost all cases where I took more risk than usual. As a result, the expectancy is also on the low side. My goal for next month is to get my risk back on track (max 3-4 points per trade, depending on the volatility).
- Too many unnessessary stupid trade errors, for example:
(1) Scaling in with a 3rd contract while it’s a range day (or my bias says it is). Ofcourse the 3rd contracts ended up in loosers. Cost me a total of 10 points
(2) Not trading in line with bias, cost me 8 points

I’ve added RVOL to my arsenal recently. As mentioned in my journal earlier, I like the combination of $tick and RVOL. I’m able to time the entries and exits better, or decide to not take an entry at all.
I like the scaling in and out. It definitly helps in consistency.

My goals for next month:
- Increase the profit as a percentage of the daily range
- Reduce my risk to 3-4 points per trades max
- No more trade errors: (1) Not scaling in so heavy on range days and (2) Only trades in line with bias

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Old October 2nd, 2016, 10:12 AM   #610 (permalink)
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GruttePier View Post
While the total profit of 39.50 points is only slightly higher than March and June, this is my best month ever for several reasons:
- I traded only 10 days instead of an average of 15 days. Of the 10 days, there were only 4 morning sessions (before 10 am). A morning sessions provides far better opportunities than the afternoon session where the volumes are lower and the day is mostly already ďdoneĒ. Sofar Iím happy with the combination of my new job and trading
- The daily range (time window that I was in the market) has increased, so has my profit as a percentage of the daily range -> 30%. My goal is to make as much as the daily range, so Iím on my right path
- For the first time I had a strong feeling of confidence of my trades working out. I donít think itís because of the winning streak. It has more to do with a strong confidence in my bias and setups. Iím taking entries with confidence and then just sit back and watch the setup to work or not. If it doesnít work, Iím ok with that. If the setup does work, I know what to do next: the emotionless regime of adding another contract, profit target on 1st contract, move stop, add, scratch, etc

Of course there are a couple of side notes:
- My risk per trade as increased from approx. 2.5 to 3.5 points per trade. One can argue that is the prime reason for the better results, but I got stopped in almost all cases where I took more risk than usual. As a result, the expectancy is also on the low side. My goal for next month is to get my risk back on track (max 3-4 points per trade, depending on the volatility).
- Too many unnessessary stupid trade errors, for example:
(1) Scaling in with a 3rd contract while itís a range day (or my bias says it is). Ofcourse the 3rd contracts ended up in loosers. Cost me a total of 10 points
(2) Not trading in line with bias, cost me 8 points

Iíve added RVOL to my arsenal recently. As mentioned in my journal earlier, I like the combination of $tick and RVOL. Iím able to time the entries and exits better, or decide to not take an entry at all.
I like the scaling in and out. It definitly helps in consistency.

My goals for next month:
- Increase the profit as a percentage of the daily range
- Reduce my risk to 3-4 points per trades max
- No more trade errors: (1) Not scaling in so heavy on range days and (2) Only trades in line with bias

Terrific results and great progress.

Bob.

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