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Safin's Trading Journal
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Safin's Trading Journal

  #91 (permalink)
Elite Member
Minnesota
 
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Thank you Safin. Nice and simple charts... there is any way to avoid ...stop taking... in third trade?


safin View Post
Aug-23
--------

Total Profit : 40$ (5 trades)

First Trade : 80$ (three setup)
Inside Bar at 9AM. Entered short at 74.21. Got 8 ticks easily with 1 target.

Second Trade : 80$ (three setup)
Another Inside Bar at 9.30AM. Entered short at 73.83. Got 8 ticks easily with 1 target.

Third Trade : -200$ (my setup)
Nice support line at 73.75 around 10.30. Entered short at 73.74. CL moved 5 ticks and came back. Went other way and took my both stops.

Forth Trade : 0$ (my setup)
Around 11.35am, I drew a support line at 73.12. Entered short at 73.10. First target was 7 ticks. CL moved 6 ticks and came back. So I got nervous and exited with 0 ticks.

Fifth Trade : 80$ (my setup)
After lunch, I got support line at 72.84. Entered short at 72.83. First 7ticks easy. Second trailing stop exited at b/e+1 tick.

Charts coming soon...


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  #92 (permalink)
Elite Member
London, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, CL Futures
 
Posts: 273 since Jun 2010
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yuri View Post
Thank you Safin. Nice and simple charts... there is any way to avoid ...stop taking... in third trade?

Third trade at 10.30am was at news time. FOMC member was speaking at that time. I should not have traded it. Somehow I missed news.

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  #93 (permalink)
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London, Ontario
 
Futures Experience: Intermediate
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Favorite Futures: ES, CL Futures
 
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Thanks: 147 given, 340 received


24-Aug
----------

No trades today. CL was very choppy today. No specific direction. So decided to stay away. I think Home Sales News at 10.00AM kept market into narrow range.

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  #94 (permalink)
Elite Member
London, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, CL Futures
 
Posts: 273 since Jun 2010
Thanks: 147 given, 340 received

25-Aug
---------

Total Profit : 180$ (2 trades)

First Trade : 80$ (three setup)
Nice outside bar at 9.45am. Entered long at 71.57. Got 8 ticks easily.

After this trade got another Outside bar and Inside bar at 10am and 10.15am. But didn't took that trade because of Oil inventory report news at 10.30am.

Second Trade : 100$ (my setup)
After oil inventory report, CL made sharp down move all the way up to 70.77. Than came back up. I got resistance line at 71.75. CL kept touching this price before lunch. This was a perfect setup. I entered long at 71.78 with two targets. I don't know what happened but some how only 1 target got entered. Second target was missing from DOM. Anyway, I got first target of 10 ticks easily. Second runner could have run for atleast 15 more ticks. Damn Ninja.

Charts coming soon...

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Safin's Trading Journal-cl_10_10_-5minutes.jpg   Safin's Trading Journal-cl-10-10-8_25_2010-5-min-.jpg  
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  #95 (permalink)
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London, Ontario
 
Futures Experience: Intermediate
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Posts: 273 since Jun 2010
Thanks: 147 given, 340 received

26-Aug
---------
Total profit : 240$ (2 trades)

First Trade : 70$ (my setup)
This was a little experiment. I got two doji bars with equal tops. In past, I have seen nice breakouts from two consecutive doji bars with equal tops or bottoms. So decided to go long at 73.54 with only 7 ticks target. It was a big winner. Got 7 ticks easily. I wish I had a runner.

Second Trade : 170$ (my setup)
Support line at 73.31. CL kept touching this price throughout afternoon. It was a perfect setup. Entered short at 73.29 with two targets. First target of 7 ticks and second target 10 ticks. I kept second target 10 ticks only because it was afternoon and low volume. Glad I did it.

There were couple of inside bars and outside bars in morning, but stops were unaffordable, so i didn't go for those entries.

Calm and relax week so far. No major upsets.

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  #96 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
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safin View Post
First Trade : 70$ (my setup)
This was a little experiment. I got two doji bars with equal tops. In past, I have seen nice breakouts from two consecutive doji bars with equal tops or bottoms. So decided to go long at 73.54 with only 7 ticks target. It was a big winner. Got 7 ticks easily. I wish I had a runner.

Why didn't you got short on the 1st trade when price broke below the 2 dojis?

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  #97 (permalink)
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shodson View Post
Why didn't you got short on the 1st trade when price broke below the 2 dojis?

Hi Shodson

I may have gone for that short, but I didn't see dojis when it went down. I saw afterwards when price was moving up. Even if I shorted, I would have got 7 ticks. Reason for not taking short could be it was a counter-trend trade. But this is still a new method for me. I have seen consecutive dojis mentioned in your "trading support/resistance" thread. Are you trading it? If so what are your rules?

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  #98 (permalink)
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OC, California, USA
 
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safin View Post
I have seen consecutive dojis mentioned in your "trading support/resistance" thread. Are you trading it?

No I am not, I was just wondering why you didn't. Yeah, that would have been counter-trend. Also, making a small probe to one side, then moving to the other side, a failed breakout of sorts, is a good trade as well. I like the idea of exploiting failures, though I don't (yet) trade like that either.

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  #99 (permalink)
Elite Member
London, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, CL Futures
 
Posts: 273 since Jun 2010
Thanks: 147 given, 340 received

27-Aug
---------

Total profit : 170$ (2 trades)

First Trade : 80$ (three setup)
Inside bar at 9am. Entered short at 73.44. 8 ticks targeted easily.

FOMC member Barnanke was speaking at 10am, so did not trade during that time.

Second Trade : 90$ (my setup)
CL moved down sharply around 10am when Barnanke was speaking. Then it came back to the same level. There was a support line at 73.75 from earling morning session. CL touched this level two times. So I did a long at 73.76. I was expecting a blast here. First target of 7 ticks got easily. Got extra 1 tick with slippage. Before my runner had a chance to run, CL came back to break-even so exited with 1 tick. Then it went into up direction again.

Pretty good week. I am satisfied with my trades. I had 9 winners, 1 loser and 1 with zero profit.

Have a good weekend everyone! Charts will be posted soon.

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  #100 (permalink)
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safin View Post
10-Aug
----------

I didn't want to post today's trades, but I will do it anyway.
Total Profit : -420$ (5 orders)

First Order : 80$ (three setup)
IB at 9am. Entered short at 79.93. 8 ticks easy.

Second Order : 80$ (three setup)
Another IB at 9.30. Entered long at 79.87. Got 8 ticks easily. This also became outside bar. But I didn't trade it.

Nice start of the day.

Third Order : -240$ (three setup)
Outside Bar at 10.45am. Entered short at 79.49. Stop loss of 24.

May be I should have stopped here. It was a Federal Announcement day. CL started behaving strangely. I should have understood that from this trade.

Forth Order : -140$ (three setup)
Inside Bar at 1.15pm. Entered long at 79.77. Stop loss of 14 ticks.

Fifth Order : -200$ (three setup reverse)
After forth order stop loss, I tried to be smart. I did reverse from stop loss point because it was also an Outside Bar. Trapped again. Stop loss of 20 ticks.

What can I say. Three setup is reliable if you know when to trade and when not. Because when it hurts, it hurts big time. I just blame myself for taking trades on big news announcement day. Learning hard way. May be I will have better tomorrow.

Charts coming soon...

FOMC DAY IS A KILLER......always is.

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