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Safin's Trading Journal

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  #111 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
 
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Big Mike View Post
safin, it seems you have a good system in place based on your journal. I would be weary of adding more stuff right now. The next challenge is trading cash the same way you trade sim, in my opinion, so I would stay focused on the ball

But that's just me.

Mike

Thanks Mike. I think you are right, I should not add too much stuff to make my chart look complicated. I just wanted to use Market Profile indicator to help me identify support resistance areas. I am not actively using it, but it might be of help. I am still primarily using my own method for finding s/r levels. I thought Market Profile would be a little supplement. If it doesn't work out, I will just remove it from my chart.

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  #112 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
 
Posts: 273 since Jun 2010
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2-Sep

Total Profit : 230$
-----------------------

First Trade : 10$ (three setup)
Outsidebar at 10.45am. Entered long at 73.60. But then CL didn't move much for next 15 minutes. Next bar formed as I/B. Enough reasons to get out. So exited with 1 tick. But then third bar was winner. I wish I stayed little longer. Anyways better safe then sorry.

Second Trade : 40$ (my setup)
At 11am, I got double doji with equal bottoms at 73.86. So I shorted at 73.84. First target was 7 ticks, second was 12 ticks. But then CL did not move quickly and there was a support line at 73.78. So I got scared and exited with 1 tick on first target and 3 ticks on second target. If I waited, it was a winner.

Third Trade : 180$ (my setup)
After lunch, nice resistance line at 73.68. CL touched this price 4 times. Very strong setup. Entered long at 73.70. First 7 ticks easy. Second target was 10 ticks and it filled quickly too. I kept it just 10 because of afternoon time with low volume. Could have got atleast 20 ticks for second target.

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  #113 (permalink)
 Jeff Castille 
Northern California
 
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Hey Safin,

I don't know if you knew but.......your first trade was taken while Bernanke was testifying before congress........not a good time to trade.

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  #114 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
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Trading: ES, CL Futures
 
Posts: 273 since Jun 2010
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Jeff Castille View Post
Hey Safin,

I don't know if you knew but.......your first trade was taken while Bernanke was testifying before congress........not a good time to trade.


Hi Jeff

I didn't know about that news. I did saw some FOMC news at 10am, but I thought it's ok to trade after 15 minutes. How to know if FOMC news are over or not? Any links or website?

Thanks

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  #115 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
 
Posts: 273 since Jun 2010
Thanks: 147 given, 340 received

Sep-3
-------

Total Profit : 390$ (4 trades)

First Trade : -100$ (my setup)
After ISM Non-manufacturing index news, CL moved down sharply. I got a small pullback at 74.00. It was also VWAP line by CMIDailyPivots indicator. So I shorted at 73.96. CL took my order and went in opposite direction. I made a mistake here. Instead of keeping stop loss of 10 ticks, I kept it 6 ticks. That caused me loss. With sleepage I got 5 ticks stop loss on both targets.

Second trade : 230$ (my setup)
Downtrend continued after first trade. So I waited for another pullback. Got it at 73.50. Shorted at 73.49. But this time my regular stop of 10 ticks. Got first 7 ticks easily. Second target was 15 ticks, but got 16 ticks with slippage.

Third trade : 190$ (my setup)
After third trade, I got two dojis with equal bottoms. Entered short 1 tick below bottom at 73.39. First 7 ticks easy. Second target was 12 ticks, that too filled quickly. Hurray!

Forth trade : 70$ (my setup)
As usual choppy afternoon session. CL moved a bit up. I got resistance line at 74.14 by swing indicator. CL touched that price twice. Long at 73.16. I had two targets, but somehow only 1 got filled. Got 7 ticks easily.

This was another good week. I had 12 winners, 2 losers. But this week my winners won by big margins. So my original weekly target filled easily.

PS: My live account is ready for trading. I might start real trading coming week. But I will take very few trades initially to gain some confidence.

Oops, Mike replied before I complete my post.

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  #116 (permalink)
 Big Mike 
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Nicely done

Mike

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  #117 (permalink)
 Eric j 
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safin View Post
Hi Jeff

I didn't know about that news. I did saw some FOMC news at 10am, but I thought it's ok to trade after 15 minutes. How to know if FOMC news are over or not? Any links or website?

Thanks

Right here for the news -

Forex Calendar @ Forex Factory

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  #118 (permalink)
 Jeff Castille 
Northern California
 
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safin View Post
Hi Jeff

I didn't know about that news. I did saw some FOMC news at 10am, but I thought it's ok to trade after 15 minutes. How to know if FOMC news are over or not? Any links or website?

Thanks

I'm not sure which news indicator you are using but.......the one I attached (6.5) showed that Bernanke was testifying before congress.

As far as how to tell when the Bernanke testimony was completed.......I haven't figured out a good way to do that. Sometimes it is televised sometimes it is not. The congressional grillings are sometimes are very long.........the speeches are usually not as long. If I can't find out when he is done speaking I can usually tell by how the market is trading. Maybe there is someone on the forum that can help us with this.

Jeff

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  #119 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
 
Posts: 273 since Jun 2010
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Jeff Castille View Post
I'm not sure which news indicator you are using but.......the one I attached (6.5) showed that Bernanke was testifying before congress.

As far as how to tell when the Bernanke testimony was completed.......I haven't figured out a good way to do that. Sometimes it is televised sometimes it is not. The congressional grillings are sometimes are very long.........the speeches are usually not as long. If I can't find out when he is done speaking I can usually tell by how the market is trading. Maybe there is someone on the forum that can help us with this.

Jeff

I have a different version, it's jtEconews2, it's supposed to be latest, but when I compare modified dates, your indicator seems latest. So I have changed it.

Yes, I think it's best approach to just monitor chart during news time to know when it's ending. We may have a chop, or big unpredictable moves. But still it's bit hard to tell. Let's see if someone can give better idea.

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  #120 (permalink)
 shodson 
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Eric j View Post
Right here for the news -

Forex Calendar @ Forex Factory

When trading US indexes I prefer Econoday, I've sometimes seen some US reports that I thought were important not show up on Forex Factory. Of course, if you trade currencies FF is the way to go.

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