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E-mini Nasdaq Volume Profile Trading Journal


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E-mini Nasdaq Volume Profile Trading Journal

  #51 (permalink)
 asfax 
Prague, Czech Republic
 
Experience: Advanced
Platform: NinjaTrader
Broker: Interactive Brokers
Trading: NQ
Posts: 57 since Sep 2009
Thanks Given: 34
Thanks Received: 79

Well done. Nice staircase equity curve by "Cut your losses short, let your profit run" rule this week.

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  #52 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92

Nice trades my friend, i like your habit to keep losses low and let the winners go. Well done. Just a question... are those SL too tight sometimes? Do you conform with your losers? I don't see the entry points in your trades so i just wonder how many of your losing trades go just a bit more against you and then reverse to profit.

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  #53 (permalink)
 milosv 
London UK
 
Experience: None
Platform: Ninja Trader 7
Broker: AMP, CQG
Trading: NQ
Posts: 100 since Jul 2014
Thanks Given: 36
Thanks Received: 38


I have been trading during the morning on the Sim account and managed to take the first retest of the last ON swing low and trade it to the VPOC from Wednesday 01-03-2017. My intention was not to trade live for today and instead practice on the Sim account as I was not as sure about the price movement as I was expecting possible choppy market or little bit unexpected behavior thanks to the non-farm day.
However later on the price has presented a situation which was possibly profitable with low amount of possible risk for me and I switched to the live account.


Trade #1 Long, Loss -$50

The price has come close to the open VPOC level from Thursday 09-03-2017 and bounced off few ticks above the actual VPOC. I have placed pending order just below the open of the previous candle on the 1 min graph. I didn’t notice that my ATM strategy was set to none and as such I was entered without automatic SL order. This was a great mistake as things get later on slightly mashed up and I am not so sure even now why NT and my account statement show the entries and exit this way however I am treating the situation as my mistake which should be avoided in the future.


Trade #2 Long, Loss -$155

In thought of adding into my open position I have re-entered the market, this time with ATM strategy selected. I have clearly taken much bigger risk as I was letting the position run beyond my initial SL however I was hoping that the open VPOC level will hold the price as support.


Trade #3 Long, Loss -$50

As the price was going back to my original entry level from trade #1 (as I was taking that as possible 3 contract position and not as 3 separate trades) I have re-entered as I was hoping for support on the previous swing low and additional support on the open VPOC form Thursday. The whole position turned against me and I didn’t want to hold it beyond the open VPOC so I have let it close on the initial SL.


Trade #4 Long, Profit $1280

This position was a slight mash up again as I was turning the chart trader on graph with different TF and as the price has went straight back to the VPOC and I have thought that my previous trades were just too early I have re-entered the market on the chart trader with different TF not realizing that my ATM strategy is yet again set to none and I am entering without automatic SL level. The first entry occurred only two ticks of heat and I had plenty of time to enter stop sell order without the ATM strategy which I was thinking would take me out if need it be.
The market then started retracing and I have placed pending order at the break out level of what I have thought is the low of the last swing consolidation on the 1 min graph. The price was retracing and I didn’t want to keep guessing where it will find support in case it would go all the way to the open VPOC again. I was however filled on the high of the candle and the price again retraced lower and created Doji on the 1 min graph.

I have placed 2 pending orders at the low of that 1 min candle hoping for possible support on the level and possible inability of the market to go lower. The market did go against me and I have thought I will risk the possible cumulative loss of the whole 5 contracts if the price will go lower than 10 ticks from my last entry point. The price however went against me by 5 ticks and then took off. This was not the best risk management technique; however the price has stopped on the close of the 19:10 candle from the 5 min graph.

I was not adding to my overall position even though there were two good retracements with clear signals for re-entering. I was a bit derailed by the fact that I have 4 contracts with ATM selected stop loss and one as stop sell order, not realizing what has had happened during the trades #1,2 and 3 I didn’t wanted to risk any complications if I would have to close the orders. My initial intention was to recover the previous loss too and secondary to ride the move to the maximum.

I have been waiting for the break out just above the VWAP, however even though I was holding my horses as much as I could I again gave up just minutes before the actual break out above the VWAP just watching that the price did reach the second peak of the HVN on the VP at the 5388.00 level. Still more work needs to be put into sticking to my discipline regarding the exits.



Over all the trade was traded to my satisfaction. The entry had its mistakes which I thing must be addressed as it derail me a bit, the first adding to the position was not great as I was taken yet again on the last tick before the price goes even lower, which is putting me into unpleasant situation and I always risk more than I would like to thanks to this situation. The third entry was good to me as I was hoping with possible retest of that time swings low and my 10 ticks SL was not challenged which is entry to my liking. I could have re-enter the trend at least on the retest of major LVN on the CVP at the 5377.50 level as the price has find nice support there and was challenged by 2 ticks heat if order would be place on such level.

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  #54 (permalink)
 milosv 
London UK
 
Experience: None
Platform: Ninja Trader 7
Broker: AMP, CQG
Trading: NQ
Posts: 100 since Jul 2014
Thanks Given: 36
Thanks Received: 38


asfax View Post
Well done. Nice staircase equity curve by "Cut your losses short, let your profit run" rule this week.

Thank you ever so much for the encouragement and all the help. It really means a lot to me.

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  #55 (permalink)
 milosv 
London UK
 
Experience: None
Platform: Ninja Trader 7
Broker: AMP, CQG
Trading: NQ
Posts: 100 since Jul 2014
Thanks Given: 36
Thanks Received: 38


DjRonin View Post
Nice trades my friend, i like your habit to keep losses low and let the winners go. Well done. Just a question... are those SL too tight sometimes? Do you conform with your losers? I don't see the entry points in your trades so i just wonder how many of your losing trades go just a bit more against you and then reverse to profit.

Thank you very much for your encouraging and kind words and your question.
As Asfax wrote above "Cut your losses short, let your profit run" must be the mantra for this week and for the rest of my days!!!

I have encounter unfortunately too many days with losses of $2K on given day and this lesson took me way too long to start embedding the change into my mind and even with recent trades I still do not like to risk the possibility of market turning against me and staying in the position for way too long, living on the thin hope that God loves me and somehow will persuade all the people participating in the market to allow me at least to get out on BE.

I still have a long way to go. That is why I am using the opportunity to show my trades in this trading journal as I know that there are many excellent traders here who can potentially look at my trades, including a person who thought me everything I know now and this is helping me to work on my behavior modification. My mind knows that I will feel greatly ashamed if I put another day of great losses here. I doubt it, that somebody would give me bollocking here for it, as many great traders went through such behavior relapses too, however it is keeping me accountable to myself and respect time and kind help from others by being straight. Yes I can skip the day and not place it here, however I am working on becoming disciplined and profitable trader and anything which will help me to behave in a decent way must be utilized.

I was in the trap of the classical "prospect theory" way of thinking (https://en.wikipedia.org/wiki/Prospect_theory look at the example lower on the page for easy understanding). It took me too long to realize that if I open position with initial $50 Sl and eventually move the SL further from entry point and enter into my losing position another contract, I am accumulating bigger and bigger possible loss and increasing my risk exposure dramatically. With combination of certain ignorance about trading and not timing my entries precisely, this was deadly combination.

I use $50 for my initial SL. My trades if successful give me usually max 5 ticks heat, therefore 10 ticks is good enough for my SL. If the price trigger my Sl it means I was wrong in my entry level and timing of my trade.

I still have an issue with adding into my open positions and I still didn't perfect it to the point that I would be able to trail my SL to BE once I re-enter. I allow my trades for now to go against me on the re-entries but I am really aware of the 10 ticks imaginary SL from the last entry and I am ready to cut the losses short. My biggest issue is that so often I got fill on the pending order which is placed above the currant price ready for the possibility that the market suddenly break higher without testing my intended low. One thing is to logically understand the issue and another is to act on it. No matter how great the trade looks like, protection of the founds on my account must be my priority #1 at least in this stage of my trading.

All my entry and exit points for each trade are clearly stated on the screenshots attached to the actual post. They have number under each entry referring to the actual entry point and red dotted line pointing to the exit point. If the entry and exit is on the same candle I do not draw the line as it is not visible on the actual candle thanks to the indicator which is graphically representing the actual candle. I leave the entry level information's provided by the NT software for better understanding. The timing may be off as I am trading in different time zone, however the entry and exit levels and the graphical representation of the price movement should be the same for anyone who wants to compare it to his/her graphs. I am doing my best to take the screenshot of the actual trade on such TF that whoever is looking at the screenshot can get idea of how much heat I got during the trade and how far it went. I usually attach screenshot with slightly higher TF to show the overall entry and exit position regarding the structure of the actual day price move.

I hope this explained your questions.

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  #56 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92

@milosv Unfortunately i know the prospect theory, is the bad habit of human kind to risk more on losers than on winners. I got rid of it now. I accept my trades as they are. I always ask myself "where is my stop?" at every entry point, at every setup. Right after i check if a 1:1 RR fits on the actual market. For example if my stop is 15 ticks but the last swing was tighter i do not enter the trade even if it is a good signal setup. On other hands if i dont have a 100% clear setup but want to take a trade, that has to be at least 1:2 RR the riskier the trade the bigger the profit, else i'll wait for better situations. Despite the slightly different charts setups looks like we trade with similar strategies. Good friday mate... keep that going. Have a nice weekend.

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  #57 (permalink)
 
KahunaDog's Avatar
 KahunaDog 
Hawaii at the beach
 
Experience: Beginner
Platform: Nt8, MotiveWave, TOS
Broker: S5
Trading: ES, ZB fine alcohol and muscle cars
Posts: 549 since Apr 2013
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I read your entries without ATM, to enter the ATM after you go to ControlCenter>Positions>highlight&rightclick order>Properties>apply atm

That is roughly it.
You can also split orders by
Highlight order on charttrader, properties> increase/decrease price.

Fall Seven Get Up Eight
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  #58 (permalink)
 milosv 
London UK
 
Experience: None
Platform: Ninja Trader 7
Broker: AMP, CQG
Trading: NQ
Posts: 100 since Jul 2014
Thanks Given: 36
Thanks Received: 38


KahunaDog View Post
I read your entries without ATM, to enter the ATM after you go to ControlCenter>Positions>highlight&rightclick order>Properties>apply atm

That is roughly it.
You can also split orders by
Highlight order on charttrader, properties> increase/decrease price.

Thank you very much for this information. I will practice this on Sim. I have encountered the issues before and I have thought that now I have a routine of checking the selected ATM before entering the trade, that is why I have pointed it out that I have made this mistake again, however your solution sounds much smoother.

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  #59 (permalink)
 asfax 
Prague, Czech Republic
 
Experience: Advanced
Platform: NinjaTrader
Broker: Interactive Brokers
Trading: NQ
Posts: 57 since Sep 2009
Thanks Given: 34
Thanks Received: 79

This week trades update

„When you think you can't, revisit a previous triumph.“ - Jack Canfield

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  #60 (permalink)
 milosv 
London UK
 
Experience: None
Platform: Ninja Trader 7
Broker: AMP, CQG
Trading: NQ
Posts: 100 since Jul 2014
Thanks Given: 36
Thanks Received: 38



KahunaDog View Post
I read your entries without ATM, to enter the ATM after you go to ControlCenter>Positions>highlight&rightclick order>Properties>apply atm

That is roughly it.
You can also split orders by
Highlight order on charttrader, properties> increase/decrease price.

@KahunaDog I have attempted to follow your instructions and opened simulated data feed on my laptop, however I do get same info on my main computer even without any open position.

I went to Control Center>Positions>Highlight&Rightclick order (it does not matter if I do highlight the actual order on my laptop or the bar above the open order) Then I have options - Close position, Flatten everything, Filter by account, Grid. The only option of "Properties" has the Grid, however that does not give me any option of "apply atm"

Could you please explain it to me again, please?

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