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How I Trade For a Living
Started:August 30th, 2016 (10:48 AM) by rocksolid68 Views / Replies:49,060 / 662
Last Reply:November 7th, 2016 (02:55 PM) Attachments:94

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How I Trade For a Living

Old September 22nd, 2016, 10:48 AM   #131 (permalink)
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Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
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To the moon?

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Old September 22nd, 2016, 11:07 AM   #132 (permalink)
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Well, ES is boring me right now. Gave me false hope. At the moment it appears the big boys are priming themselves for ATH's as well.

Gold is giving me a good time though.

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Old September 22nd, 2016, 11:27 AM   #133 (permalink)
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Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
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Finally... Ugh...

ES can be so boring sometimes

Sitting on 4 lots right now. Waiting for OR-H to break then we can really move.

Average is 68.94

EDIT:

Sold one contract for daily income. Holding 3 still for ~$400


Last edited by rocksolid68; September 22nd, 2016 at 11:35 AM.
     
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Old September 22nd, 2016, 12:38 PM   #134 (permalink)
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Futures Experience: Intermediate
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Favorite Futures: ES
 
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Old September 22nd, 2016, 02:26 PM   #135 (permalink)
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Futures Experience: Intermediate
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Futures Edge on FIO

Are you a NinjaTrader user?

 
Hey all. I am away from the trading station for the rest of the day. I left my long position on with stops and targets in place.

I took a fair amount of heat, but I ended up building my position to a total of 6 contracts.

My first target is day high.

The second is R2 which is ~74 or so.

I will post the recap late tonight or tomorrow morning! If all goes according to plan, I will still have some of my core long position.

I hope you all were buying up that ETH-VWAP/OR-L!!!

     
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Old September 23rd, 2016, 12:37 PM   #136 (permalink)
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Hey all.

I have been quite busy. I am going to be away from the trading desk all weekend for some family things.

I will be posting here on FIO when I can though!

That being said, I was still long bias today. I scalped the long side for 22 ticks. I am now done for the day.

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No ZB or GC trades today. They are fairly choppy as well.

A $275 profit is a decent way to go into the weekend.

As far as yesterday goes, I ended up down $400. It was a poor day, however, ZB/Gold kept me alive.

Overall for the week I ended pretty dang green! And to me, that's all that matters: the PnL at the end of the week.

Good luck and good trading!

     
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Old September 26th, 2016, 10:23 AM   #137 (permalink)
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Morning Thoughts:

360 Minute:
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-Price topped out last week. We are retracing.
-Today will be the day we determine whether or not it was a failed rally, or a retracement for another leg up.
-How to know whether or not it is a retracement or not: whether we can go/stay above M-S1 and Monthly +1SD. These numbers are boxed on the right. (~50-~52)

That will be our price to watch.

Deutsche Bank giving the market hell, so we are lower right now.

Presidential campaign debate tonight, who is watching? opcorn2:

Trade Thesis:
-Watch how the open plays out.
-If we pop higher at the open, fade the AoI (50-52), and if we break above it with conviction, I will flip to the longside.
-Downside target is M-VWAP and M-S2 (36-34) and upside targets will be ~70 and higher.

Today should be interesting!

     
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Old September 26th, 2016, 10:47 AM   #138 (permalink)
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Side note: Going live with gold trading today. Keeping the size to a minimum.

ES is looking very interesting.

We could be in for a nice moving day.


     
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Old September 26th, 2016, 11:11 AM   #139 (permalink)
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Duluth MN
 
Futures Experience: Intermediate
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Long in ES 2 contracts at the moment. Playing small because I think today can throw some curve balls, so I do not want too much weight on my if the ship sinks.

The green box is the AoI that I think will determine market sentiment. OR-H is also my target.

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If this comes back down, I will not hesitate to flip short. But for now, holding long.

EDIT: Literally touched my target but no fill..... Front running the OR-H at 48.75. I added a third lot and if I get the fill, it will be for daily income goal. The rest will be for more.


Last edited by rocksolid68; September 26th, 2016 at 11:16 AM.
     
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Old September 26th, 2016, 11:34 AM   #140 (permalink)
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Duluth MN
 
Futures Experience: Intermediate
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Posts: 1,019 since Jan 2015
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I want to note something about my current trade as price is coming down to my position.

At its peak, I was +$650 with this trade. Right now I am around +$275.

Granted I did not get my one target filled, I still think this is a good "teaching" moment.

Searching for large wins (asymmetrical returns) can be extremely frustrating! Like right now someone may be thinking "well I could have just made 600 bucks and been fine. That is more than I need a day to trade for a living."

Or you would think, "I would flatten out after price came down because I don't want to lose anymore profit potential."

Guess what, these two thought processes may seem effective for that one trade, but in the long run, they will only hinder your chances of making it.

I think for some it is better to NOT mess with their trade once they are in. I say this because they let emotions get in the way.

As I type this, price seems like it may go back up to my target. Patience could play off big for me here, or, just tease me and come back down and stop me out.

If I could redo this over again, I would handle this trade the SAME exact way. I know that this works in the long run, so I am not going to change it.

I hope all is well with you folks!

EDIT: I was filled!!! Woo!

     
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