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NQ ES Beginner

  #1 (permalink)
 
JellySkater's Avatar
 JellySkater 
Snellville, GA
 
Experience: Intermediate
Platform: TOS, NinjaTrader
Broker: TDAmeritrade
Trading: Lev ETFs, Equities
Posts: 20 since Nov 2013
Thanks Given: 16
Thanks Received: 38

Pre-Open:
- NDX continued uptrend
- ES had strong uptrend overnight.
> expecting an up day

Trades (see chart):
1. LE 1 ES / price above fast VWAP (green)
2. LE 1 ES / OBV had nice up swing, feeling good about trend
3. close 2 ES / price PB to S/R Line and converage with Green VWAP
4. SE 1 ES / price below S/R and long VWAP (blue)
{signal to short was breakdown from blue VWAP but waited due being close to S/R}
5. SE 1 ES / trend looks good
6. Close 2 ES / indicators turned and close to S/R

EoD:
- Feeling good about reading the chart.
- All positive trades feels great.
- Short day due to planned meeting with friend for lunch and sharing.
- First ever journal entry.

I'll post details of the chart and indicators in another post.

Looking forward to questions and suggestions.

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  #3 (permalink)
 BoltTrader 
Phoenix + AZ/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
Posts: 532 since Jul 2014
Thanks Given: 2,481
Thanks Received: 831


Looking forward to following your journal -

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  #4 (permalink)
 
JellySkater's Avatar
 JellySkater 
Snellville, GA
 
Experience: Intermediate
Platform: TOS, NinjaTrader
Broker: TDAmeritrade
Trading: Lev ETFs, Equities
Posts: 20 since Nov 2013
Thanks Given: 16
Thanks Received: 38

Pre-Open:
- market health screens appear neutral, no trend
- adjusted S/R's on ES / no trend apparent
- adjusted S/R 's on NQ / looks to be in channel
- T2108 52% /still Green but down from 70%

Trading NQ:



Trading ES



Post Market
Although the trades made money; I'm not so happy with self. Jumped when I shouldn't have because I did not take time to fully analyze the chart. Got stressed.

On the side, I'm studying UniRenko, and made adjustments to my setting for NQ: T6 O6 R36. Thinking about having a separate setup for choppy area.. Did notice that my green line works well in chop as long as there is some range to it.

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  #5 (permalink)
 
JellySkater's Avatar
 JellySkater 
Snellville, GA
 
Experience: Intermediate
Platform: TOS, NinjaTrader
Broker: TDAmeritrade
Trading: Lev ETFs, Equities
Posts: 20 since Nov 2013
Thanks Given: 16
Thanks Received: 38

PRE MARKET:
-market health NEUTRAL / SPY in flag, flat to declining vol.
- dollar accending, euro and japan deccending
- CL in flag and neutral / indicators in neutral; what is supporting this price?
- ES and NQ 7:00 jump up / wait to see / otherwise looks range bound

Thoughts for the day:
- be calm, don't over do it
- be patient, wait for the conservative setup

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  #6 (permalink)
 
JellySkater's Avatar
 JellySkater 
Snellville, GA
 
Experience: Intermediate
Platform: TOS, NinjaTrader
Broker: TDAmeritrade
Trading: Lev ETFs, Equities
Posts: 20 since Nov 2013
Thanks Given: 16
Thanks Received: 38




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  #7 (permalink)
 
JellySkater's Avatar
 JellySkater 
Snellville, GA
 
Experience: Intermediate
Platform: TOS, NinjaTrader
Broker: TDAmeritrade
Trading: Lev ETFs, Equities
Posts: 20 since Nov 2013
Thanks Given: 16
Thanks Received: 38

I stopped posting because I crashed my trading account and it is embarrassing. I hate being wrong. I wanted so much to show my trading ability.

So now, if I can bare it, this journal will be about how I recover. I'm accepting that emotions have been in control at the critical times. I believe my analytical mind is very good and my edge. But, the track record is horrible due to poor execution.

Started reading the Psychology threads and learned more appreciation of emotional impact. I have started reading Mindful Trading: Mastering Your Emotions and the Inner Game by J. Rande Howell, MDe, LPC. Free ebook is available: w.tradersstateofmind.com/f/MindfulTradingEBOOK2_FINAL_March2012.pdf. 25 pages into it and recommend it.

Also came across "Trading in the Zone" by Mark Douglas, an audiobook available on YouTube. Douglas list what he calls the primary fears: losing money, being wrong, missing out, and leaving money on the table. While making a note; tried prioritizing the list. 1. missing out; 2. being wrong; 3. leaving money on the table; 4. losing money. That speaks to me. Losing Money is last. Missing Out and Being Wrong are really tied for first place.

Dealing with emotions is extremely hard for me, as it is for most guys. So by posting, going public, I'm trying to accept the issue.

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  #8 (permalink)
 
lemons's Avatar
 lemons 
Tallinn, Estonia
 
Experience: Beginner
Platform: SC
Trading: NAS100
Posts: 959 since Nov 2010


JellySkater View Post
I hate being wrong. I wanted so much to show my trading ability.

In trading you will be "wrong" ca. half of the time. Accept it.
And lose your EGO.

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  #9 (permalink)
 BoltTrader 
Phoenix + AZ/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
Posts: 532 since Jul 2014
Thanks Given: 2,481
Thanks Received: 831


Quoting 
I stopped posting because I crashed my trading account and it is embarrassing. I hate being wrong. I wanted so much to show my trading ability.

No one likes to be wrong but in trading everyone is wrong at some point, just know that you are in good company. It seems to me that most of the testimonies I have heard from professional traders include the fact that they have blown an account or two along the way to becoming a professional trader. Its how we react to the setback that often determines whether or not we will be successful in the long run. The saying that I alway like is, "...knocked down but NOT knocked out". I'm glad to see that you have picked yourself up and are getting yourself ready to go back in the ring. To your success!

Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
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  #10 (permalink)
 
JellySkater's Avatar
 JellySkater 
Snellville, GA
 
Experience: Intermediate
Platform: TOS, NinjaTrader
Broker: TDAmeritrade
Trading: Lev ETFs, Equities
Posts: 20 since Nov 2013
Thanks Given: 16
Thanks Received: 38


I have learned from prior experiences that one does not cure ( stop ) the psychological issue. One learns to recognize onset and remembers to use the logical mind to chose an appropriate response. (Fight/Flight are valid responses. )

Journaling will include acknowledging the presence of feelings. This will be challenging because I have always suppressed emotions and put me last. I think feelings is the first sign of the subconscious mind gaining control.

Counter the issue with analysis from the other perspective. Who's taking my trade and why.

Set a risk stop and a profit target. I'm realizing that the objective of technical analysis is risk amount and profit target and probability instead on trend or not.

As a swing trader, projection of a target is difficult. Would it be enough to identify the follow thru point? That being: the point price attains by a limited amount of time.

Just identified one of my psyh issues; personal hatred of being stopped out by a spike of price. Note to self, loosen initial stop and don't tighten until spike occurs. Typically three to five bars, maybe eight.

I will publicly journal as much as I can stand.

My plan includes completing Mark Doughlas, "Trading in the Zone" and "Mindful Trading" by Rande Howell. I hope to post my take away's.

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Last Updated on March 1, 2017


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