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Safin's Trading Journal

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

Thanks Big Mike and Pico for your insights. Don't get me wrong. I didn't mean to prove anyone wrong here. What I meant is news distracts me from trading. May be it's my nature. When I see in news indicator that something is coming up at 10.30 or whatever time, I sort of get impatient and start looking into all kind of news on net to see if I should go long or short. Which diverts my attention from my chart. And that has costed me to make few foolish decisions.

Ofcourse Wednesday Crude Oil report or options expiration day are something everyone needs to watch out for. But I don't deliberately want to look for other news items which are non-related and make out few stupid trades.

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

23-July
=====

Profit : 70$
Only one trade today. I was in defensive mood today plus it was low volume and zig zag day on 5 min chart. So I decided to try out Jeff's three setup on 15 min chart. His setup is a very reliable setup. The only catch is I am going to have a small account, so I can not afford large stops. Regardless I can still use few Inside Bar and Outside Bar trades if stops are not larger. I saw one inside bar today around 1.15pm and stop was less than 20 so I took it. As per three setup rules, I should have placed profit target of 8 ticks, but I entered 7 ticks by mistake. Anyhow it got filled quickly and that was it.

There was one opportunity to go long around 2pm on 5 min chart. I got a nice resistance line at 79.17. But I was little nervous because there was a good chance of my stops getting hit because of zig-zag moves of CL. So I decided to stay away.

This week was not as profitable as previous 2 weeks, but I am still satisfied because I am only shy of few ticks away from my weekly target.

I need to develop more discipline. I will study my trades in this weekend. This should help avoid bad trades in future. Have a great weekend everyone!

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


26-July
=====
Pretty calm and relax day. I studied my last 3 weeks trades in weekend. Got few hints on where I should not enter/exit. Starting this week, I am adding Jeff's three setup with my setup. I have modified Reversal 6.1 indicator in Three Setup for my own needs. It only highlights those candles which are having smaller stops that I can afford. It draws Inside Bar as yellow color if it has stop less than 25 ticks. It draws Outside Bar as sky blue color if it has stop less than 25 ticks. I will use Jeff's Three setup with only 1 quantity and a fix target of 8 ticks.

Total Profit : 320$ (4 trades)

First Trade : 260$ (my setup)
I got nice resistance line at 78.98 around 10am. Entered long at 79.01. Got +10+16 easy.

Second Trade : 80$ (Three Setup - IB)
IB(Indide Bar) at 1pm. Entered long at 78.97. Got 8 ticks at 1.30pm. Took longer than normal to exit.

Third Trade : 80$(Three Setup - OB)
Right after IB trade, got this OB. Entered short at 78.86. 8 ticks easy in less than 2 minutes.

Fourth Trade : -100$ (my setup)
I got nice resistance line at 79.09. I thought CL should blast through this. But low volume did not help. Got out with -5 ticks on both orders. -5-5. May be I should just avoid trading more after reaching 400$ day target.

This was a good day to start with. Now I have more opportunities than before by adding Three Setup. It seems very promising if I follow rules strictly. Let's see how it goes. Happy Trading everyone!

Charts coming soon.

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

27-July
======

Total Profit : 260$ (2 trades)

First Trade : -190$ (three setup IB)
This was a perfect IB. I shorted around 78.25. But I missed to see support line at 78.24. According to three setup rules I should have looked out for support line. That caused me a stop loss of 19 ticks. Anyways, learning everyday.

Second Trade : 450$ (my setup)
After first trade, CL went up a little bit and came back. 78.24 was perfect support. If it breaks that, it was going to fly down. It did exactly that. First 10 ticks easy. Second order I exited at 35 ticks.

There was another opportunity to short again at 77.76, but before I make a decision, CL blasted again and did not stop until 77. That could have been another 50 ticks atleast.

After lunch, there were few opportunities, but I just didn't want to spoil a good day. So stayed away from other trades.

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

28-July
=====

Very few chances to enter any trade today. So it was a bit quite day for me. Although CL made few big moves around 10.30 when inventory report was coming out.

Total profit : 90$ (2 trades)

First Order : 10$ (my setup)
After big moves in down and up direction I got this Inside Bar around 11.40am on 5 mins chart. I tried to short 1 tick below this bar. But then CL didn't move much, so I exited with 1 tick.

Second Trade : 80$ (Three setup)
Classic I/B around 1pm. I entered long above 1 tick of this bar. Got 8 ticks easily.

I hope tomorrow will be a good day for me. This week I am taking very few high probability trades only. This is just to avoid unnecessary losses.

I will post my charts soon.

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  #46 (permalink)
 Big Mike 
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Good job, Safin.

Quiet days can often become the biggest losing days due to boredom. Good job staying on point and following your plan.

Mike

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

Thanks Big Mike for important reminder. I will keep my nerves down.

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

29-July
=====

Total Profit : 400$ (4 trades)

First Trade : 290$ (my setup)
I got nice resistance line at 78.55. Entered long at 78.57. First 14 ticks easy, 4 ticks extra with slippage. Second order I exited with 15 ticks. Hurray!

Second Trade : 110$ (my setup)
Support line at 77.97. Short at 77.95. First 10 ticks easy. Second order exited at BE with 1 tick. Hurray again!

I should have stopped my trading here for the day. 400$ is my maximum target for day. But you know human nature!!!

Third Trade : 60$ (my setup)
After lunch got another small resistance line at 78.14. Entered long at 78.15. CL took my order and questioned my patience. Volume was low. I gave up, exited at 3 ticks on each order. Right after that it moved 10 ticks. That was it for the day. I should have just shut down my computer.

Fourth Trade: -60$ (my setup)
After third trade, I saw another resistance line at 78.27. Entered long at 78.29. Same story again. CL went sideways and I exited with -3 ticks. I just tied my hands with Duct Tape after that.

Tomorrow is Friday and I want to seat relax because my weekly target is achieved. I will take very high probability trades only. No more stupidity.

Charts coming soon...

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  #49 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
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Posts: 9,870 since Mar 2010
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Hi Safin,

just discovered your thread today. I am quite impressed by your clean and sober charts, and will slowly go through the previous posts to understand your setups.

Just one note to your chart. Yesterday's high, low and settlement were 77.74, 75.90 and 76.99 (source: CMEGROUP website) This will give you a main pivot of 76.88. Your chart shows 76.95, which is 7 ticks off. These are my values: PP 76.88, R1 77.85, R2 78.72

As you use the pivots indicator in DailyBars mode, this issue is clearly data or session related. I use Kinetick daily data (DTN/IQ). Where does your daily data come from?

Below is my 15 min chart of CL for comparison.

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


Hi Fat Tails

I like clean chart. Too many indicators confuse me.

My data feed is Zen-Fire. I use regular Pivots (Daily) indicator. It's strange that we have different pivot points and s/r points. But so far my S/R points are doing fine for me. I don't actively use pivots indicator for trading but as guidelines. My method is to find out where other traders are placing their stops, or in other words find out s/r lines. I just keep drawing lines in those areas and when higher volume supports it, I place orders 2-3 tick above below those lines. Then I just wait for breakout. You can find out more about it in my first post.



Fat Tails View Post
Hi Safin,

just discovered your thread today. I am quite impressed by your clean and sober charts, and will slowly go through the previous posts to understand your setups.

Just one note to your chart. Yesterday's high, low and settlement were 77.74, 75.90 and 76.99 (source: CMEGROUP website) This will give you a main pivot of 76.88. Your chart shows 76.95, which is 7 ticks off. These are my values: PP 76.88, R1 77.85, R2 78.72

As you use the pivots indicator in DailyBars mode, this issue is clearly data or session related. I use Kinetick daily data (DTN/IQ). Where does your daily data come from?

Below is my 15 min chart of CL for comparison.


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