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Safin's Trading Journal
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Safin's Trading Journal

  #81 (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

Aug-11
=====
Not a bad day compared to yesterday.

Total Profit : 100$ (4 trades)

First Trade : 20$ (my setup)
Drew a support line at 78.79. Entered short at 78.78. CL broke 78.78 support line and fluctuated. I got scared and exited with 1 tick on both targets. If I waited for some more time, this was at least 10 ticks.

Second Trade : 80$ (three setup)
Nice inside bar at 11am. Overall trend was down. So shorted at 78.45. Got 8 ticks easily. Thank god! after yesteday's disaster on IBs, back to normal. As I said, now I am trading three setup during morning only (9am to 12pm est) just to be safe.

Third Trade : -180$ (my setup)
I got nice support line at 78.00. Entered short at 77.99. I was pretty confident that this will work because 78.00 is also a major price mark. But hell, I failed to see daily support line at 77.94 because it was hidden at bottom of chart. Result? stop loss of 9 ticks on both target. I saw it after stop loss.

Forth Trade : 180$ (my setup)
Afternoon session was very narrow. I kept following CL. I got nice resistance line at 78.42. CL touched this line many times. This was a perfect setup. I entered long at 78.44. Kept 5 ticks as first target because 78.50 would be a major price mark. Breakout happened exactly as I expected. first 5 ticks easy. Second runner exited with 13 ticks with trailing stop. This was very encouraging. From last 1 week I couldn't catch this kind of breakout. Glad that my method still works. I was nervous about my setup.

Charts will be posted soon...

Attached Thumbnails
Safin's Trading Journal-5-mins.png   Safin's Trading Journal-15-mins.png  

Last edited by safin; August 11th, 2010 at 04:27 PM.
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  #82 (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

Aug-12
=====

Total Profit : 30$ (3 trades)

First Trade : -120$ (my setup)
I got nice resistance line at 76.82. Entered long at 76.83. Execution was right. But somehow didn't work. My 6 ticks stop loss got hit on both targets.

Second Trade : 70$ (my setup)
Another resistance line at 76.90. Entered long at 76.91. I kept first target to 5 ticks. Got it easily. Second target exited at break even. 1 tick extra with slippage.

Third Trade : 80$ (my setup)
Support line at 76.41. Entered short at 76.39. I kept first target to 7 ticks. Got it easily. Second target exited at break even.

Afternoon was very quite. No setups. Around 1.45 I saw a very good setup. Support line at 76.29. Entered short at 76.27. But then CL came to 76.28 and went back up to 76.32. I got scared and canceled my order. I wish I took that order. It was good for at least 30 ticks. Anyway, there is always tomorrow.

Charts coming soon...

PS: I have started studying Three Setup with TF. I was just eye bowling TF chart with Three Setups for IB and OB trades and it looks very interesting. I might consider trading TF with three setup.

Attached Thumbnails
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  #83 (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


13-Aug
=====

Total Profit : -50$ (2 trades)

First Trade : 110$ (my setup)
Resistance line at 75.60. Entered short at 76.59. First target of 5 ticks easy. Second target I exited at 6 ticks.

Second Trade : -160$ (my setup)
Afternoon was in very narrow range. It's Friday and 13th. Not so many players today. I should not have taken this trade in low volume. I drew a resistance line at 75.25. Entered short at 75.24. CL took my order and went up. I moved my stop to 75.53. Way too much than I can afford. CL kept running in narrow range. I got tired and exited with 8 ticks loss on both targets. Then it moved in my favor. I hate CL.

This week ended in negative profit. This week was very narrow range. I couldn't get enough chances. Plus one big losing day. I would accept that. This is normal I think. You can not expect all weeks to be positive. Good thing about this week is, now I have more control on my method. I know exactly when to enter. I just need to watch out for low volume and narrow ranges. I should be good to go next week.

Have a great weekend every one. Charts coming soon...

Attached Thumbnails
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Last edited by safin; August 13th, 2010 at 08:13 PM.
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  #84 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary

Hi Safin,

reading your journal and recognizing some of my own mistakes.

You were following your setups, but on every single day of this week your average losers were much larger than your average winners.

Your average winner is about $ 80, your average loser about $ 160 before commissions. So you need a winning percentage > 70% to become profitable. There are only few strategies that have the required win rate to achieve this.

As you are keeping an accurate journal it is easy to find out these numbers. I intend to reevaluate my own trades and improve my own journal this week-end. Also checking my ratios now.

Thank you again for sharing. It is easier to read and to comment than expose one's trades.

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  #85 (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


Fat Tails View Post
Hi Safin,

reading your journal and recognizing some of my own mistakes.

You were following your setups, but on every single day of this week your average losers were much larger than your average winners.

Your average winner is about $ 80, your average loser about $ 160 before commissions. So you need a winning percentage > 70% to become profitable. There are only few strategies that have the required win rate to achieve this.

As you are keeping an accurate journal it is easy to find out these numbers. I intend to reevaluate my own trades and improve my own journal this week-end. Also checking my ratios now.

Thank you again for sharing. It is easier to read and to comment than expose one's trades.

Thanks Fat Tails for the statistics. If you discard this week from my statistics you would see different results. Reason behind this is, I have introduced Three setup in my trading just 2 weeks ago. I am still doing few mistakes while executing it. That's the reason my losers have increased recently. But I am getting improved. I should achieve >70% success rate after some time.

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  #86 (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

Aug-16
---------
Total Profit : 110$ (1 trade)

Pretty quite day. CL was running in narrow range, not so many chances to enter trades. I got support line at 75.20 in afternoon. Entered short at 75.19. First target was 7 ticks, but then I reduced it to 5 ticks because of slow movement. Second target I exited with 6 ticks.

I am trying my method with TF a well, it seems to be working. I was able to do 1 successful trade. Let's see how it goes.

Attached Thumbnails
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  #87 (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

Aug-17
--------

Total Profit : 170$ (3 trades)

First Trade : 140$ (my setup)
Resistance line at 76.25. Entered long at 76.27. First target 10 ticks easy. Second trailing stop exited with 4 ticks.

Second Trade : -40$ (my setup)
There was a daily resistance at 76.44. CL respected that. I entered long at 76.46. But then CL started hesitating going above 76.46. I got scared and entered exited with 2 ticks loss on both targets. If I waited for some more time, this was a winner.

Third Trade : 70$ (my setup)
Choppy afternoon session. Got support line at 75.01. Entered short at 75.97. I should have entered short at 75.98. First target was 7 ticks. CL moved 6 ticks and waited at 75.91. Then came back and went into negative zone. Ooh oh! My entry was right. So I moved my stop loss to 76.21. Thank god, it came back. First target I exited with 1 tick. Before I exit second target, it started moving in positive zone. I waited for some time and then exited at 75.90 with 6 ticks because 75.84 was daily resistance. But then it went for another 20 ticks

Not a bad day to end with. I am seeing improvements in my execution. Not so many aggressive trades.

Charts coming soon...

Attached Thumbnails
Safin's Trading Journal-5-mins.png  

Last edited by safin; August 17th, 2010 at 04:51 PM.
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  #88 (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

Aug-18
---------

Total profit : 140$ (2 trades)

First Trade : 120$ (my setup)
Support line at 73.94. Entered short at 73.92. Got first 10 ticks easily. Second trailing stop exited with 2 ticks. Hurray!

Second Trade : 20$ (my setup)
This was a golden chance. Daily support at 74.98. Swing indicator gave resistance line at 75. Also there was an Inside Bar on 15 minutes chart, that was indicating entry at 74.97. So everything was aligned. I entered long at 75.02. CL moved 2 ticks and paused. Went into negative zone. I got nervous. Decided to exit with 1 ticks on both targets. If I were to wait, should have got 10 ticks atleast.

Charts coming soon.

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  #89 (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

Aug-19
---------

Total Profit : -10 (2 trades)

Very choppy day today. Should have stopped trading today. I missed a down rally in morning. Then afternoon session was very choppy. I should say almost dead.

First Trade : 50$ (my setup)
After 1pm, I drew a support line at 74.58. 75.60 was daily support line. I entered short at 74.57 with only one target of 5 ticks. This was a little different setup then usual. Profit targeted but took lot of time.

Second Trade : -60$ (my setup)
This was a stupid one. After waiting entire day, I wanted to do one last winner. Around 2.20pm, CL started moving up after a long choppy period. I got resistance lines at 74.79 and 74.81. Entered long at 74.83. My order filled at 2.29pm. I was still hoping that I can achieve my profits. CL spiked 4-5 ticks and then came back. At 2.30 it created hanging man. Soon I figured, it was me hanging there. I decided to wait and see if I can get out at break even. After 30 minutes, I got a chance to exit with 3 ticks loss on both targets. Trading in final 10-15 minutes is called suicide. Don't do that.

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  #90 (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


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...

Attached Thumbnails
Safin's Trading Journal-15-minutes.png   Safin's Trading Journal-5-mins.png  

Last edited by safin; August 23rd, 2010 at 05:17 PM.
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