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Rintin2x Journal to Profitability
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Rintin2x Journal to Profitability

  #41 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

07/29/16

Another blow up day hahaha, actually did ok at the beginning of the day, but the damn thing never fall, when all the sign there to get out for a small loss, I kept hoping it will come back. Big mistake. Damn this thing is hard! It's ok, paid for it, might as well keep learning till it STICK in my head on things I need to work on for my development as a trader.

Mistakes:
1. I did 5 round trips today, 2 winners, 1 breakeven, and 2 big big losers. Toward the last of the day I traded with 3 contracts (ok, not really 5 round trips since it was 3 contracts for the last 2 trades).
2. The confirmation were there to get out for small lose, but I didn't.

Damn, pretty much all the rules I set yesterday got broken....well at least I feel I'm not overtrading and have more patience to enter the trade. The trade worked out at the beginning and should have bail when I see the signs.

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  #42 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

New Goal for the rest of the 1st combine

For the rest of the remaining 3 weeks:

1. Stop trading for the day when losing 8 ticks (about -$150 including commissions)
2. Don't do revenge trading (stupid 3 contracts in one go)

Will I be able to achieve $1500 target in 3 weeks? The way it goes right now I have to be realistic, it is not achievable. But I believe I have to take baby steps and build a solid ground, learning along the way, and hopefully achieve that goal in the near future. I will consider $150/month as a tuition fee to learn this craft.

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  #43 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

08/01/16


OK, I did some experimenting. I decided to try ES after getting my ass kicked day after day on ZN (I'm not sure why I can't perform at all after doing the combine). I believe ES provides me with volatility that I wanted and I've done pretty good today with my scalping style. What did I change on my chart? I start using tick chart and took off all of the indicators, except SWING. Anyway, it might be a fluke and will have 3 more weeks to prove me wrong. But one thing I know is I'm back
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Looking back I can't believe it just took about 1 hour for all those trades....CRAZY!!!!

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  #44 (permalink)
Trading Apprentice
Houston Texas
 
Futures Experience: Beginner
Platform: TradeStation, ThinkorSwim
Favorite Futures: emini ES
 
Posts: 8 since Dec 2015
Thanks: 0 given, 2 received

Time Frames

Experiment with a few different time frames if you get a chance.

1 minute charts still seem too fast for me, 5-30 minutes slow things down some, bigger moves.
I picked a somehat random tick chart and have had good results with it so far. No magic answer for everyone, find one that works for you and you like trading.

Have been several fairly predicable 4+ point moves in the ES the last few days. With 3 contracts +$600 less fees.
+$1500 with 3-4 of these and not crashing and burning badly on your losers.

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  #45 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

Futures Edge on FIO

Which products do you trade?

 
@mjarzoms thanks for the tip, honestly im still new and need experimenting things. I've tried NZ for quite a while, i'd say i gave it a go but the result not as good as i wanted, maybe i notice that it doesnt give enough chance to be wrong. I totally understand what you're saying about have longer term swing, i will try that in the near future. Thank you.

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  #46 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

08/02/16

Did ok, can improve on the entry, missed morning selloff. Want to try to short the pop about now but I'm just gonna call it a day.

I set the tick chart at 150 ticks which is pretty fast, there are couple instances that it went against me, but I'm still not sure if this is normal and went back my way. I want to know how much do you guys willing to lose to prove you're on the wrong side.

I haven't really check all the journals of others, but I'm really interested getting better and open to suggestion on what kind of method you guys use. So far I've been doing it by feeling with tick chart (I do believe this is not doable day after day), is there more mechanical approach to trade more consistently and knowing when you're on the wrong side?

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  #47 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

08/03/16

I have to say today's experiment is another success. Per my comment yesterday, 150 tick chart strategy works, but I found it rather distracting for my work. For the time being it's not sustainable for my work schedule. The other thing that I mentioned was thinking somekind of mechanical system that I can use to enter and exit confidently.

So last night I had to tweak the chart a bit to meet these 2 conditions:
1. Back to 5 minutes chart (I didn't check whether tick chart would work or not yet).
2. Add Momentum SMA (28,28) at the bottom chart.
3. Add 10 and 20 SMA as chart overlay.

So here's the strategy:
Long entry: when momentum cross sma.
Long exit: when price cross 20 sma.
Swap it for going short.

Now the cons using this strategy:
When you enter, the momentum line might go up or down, you don't know where the price will go.
If the momentum goes down from sma (long entry), get out...that means it's not ready yet.
If the momentum goes up from sma (long entry), hold it even that means the price goes down (it happens), you can even add another contract after the 10&20 sma overlay crossed.

Just today, ES doesn't really do anything except in the morning which I missed it. I THINK this strategy works great for trending day, for choppier day like today, kind of difficult.

Now the pro:
I don't need to keep looking at the chart all the time, so I can concentrate more on my work.
I won't get nervous all the time.
I won't get confuse whether I should keep holding the trade or not.

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  #48 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

08/04/16

Did pretty well today. Execute and exit correctly. Calling it a day...the market starting to slow down.

Trade 1: got an opportunity to short, didn't hold it since it was pretty volatile.
Trade 2: Sold it after seeing the momentum slowing down, not regret selling it even it went up again for a new high after.
Trade 3: I see opportunity in ZN enter as planned, probably should have got another 2 ticks, but I think short hasn't been given opportunity to shine today.
Trade 4: Short and went good but at the DOM I see large stack limit buy orders and chicken out, so I put a buy limit order right above it.

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  #49 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received

08/05/16

Did ok, not memorable, just wish the market make decision to go up or down after hitting ATH.

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  #50 (permalink)
Elite Member
salt lake utah
 
Futures Experience: Beginner
Platform: No clue
Favorite Futures: ES, ZB
 
Posts: 141 since Jun 2016
Thanks: 62 given, 83 received


Wont be trading next week since I have to go to the mining site. Might be able to do it on next Friday, we'll see.

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