NexusFi: Find Your Edge


Home Menu

 





Day Trading from an Ogre's Point of View


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one TradingOgre with 393 posts (1,177 thanks)
    2. looks_two MiniP with 26 posts (33 thanks)
    3. looks_3 bobarian with 18 posts (25 thanks)
    4. looks_4 trendisyourfriend with 15 posts (16 thanks)
      Best Posters
    1. looks_one bobwest with 3.2 thanks per post
    2. looks_two TradingOgre with 3 thanks per post
    3. looks_3 Rrrracer with 2.1 thanks per post
    4. looks_4 MiniP with 1.3 thanks per post
    1. trending_up 80,743 views
    2. thumb_up 1,547 thanks given
    3. group 58 followers
    1. forum 627 posts
    2. attach_file 263 attachments




 
Search this Thread

Day Trading from an Ogre's Point of View

  #311 (permalink)
 
MiniP's Avatar
 MiniP 
USA,USA
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES,
Posts: 1,157 since May 2017
Thanks Given: 1,109
Thanks Received: 2,943


TradingOgre View Post
Today's price movement was like watching a baseball game. Long periods of nothing then BAM! an 18 point move in less than a minute. Not worth the risk. Every time a set up would begin to build it would either fall apart before I entered or just explode in one direction before you could get set up for entry. Volume is low again. Hope that changes on Tuesday.

No trades for me today. Not even going to try. And, I am good with that decision.

On a side note, I saw first hand the realities of someone trading live for the first time over the last week or so. This person blasted through an evaluation at a prop firm (not TopStep). They hit their profit target in around 4-5 days and had to coast for the last 10-11 days. Once funded and live (this persons first time EVER trading live) it only took him about 1 week to blow the account. The realities of trading live are as real as it will ever get for someone. The mental portion is the absolute toughest part to deal with and trading for a prop firm where you are evaluated for performance every 15 trading days doesn't really help. At first he tried to blame the difference between trading a demo account and a live account. Then he tried to "tweak" his system a little bit and today he posted that he blew the account by hitting the max trailing draw down. My guess is that when he started losing he never backed down on the number of contracts and just kept pushing it hard hoping to get back to break even. Just one home run and everything will be ok. Doesn't make much sense to try and hit a home run when you aren't even getting base hits.

NQ was a pain in the ass to trade today.. wish I would of gotten the idea to sit out... maybe next time lol

-P

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
REcommedations for programming help
Sierra Chart
How to apply profiles
Traders Hideout
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
MC PL editor upgrade
MultiCharts
What broker to use for trading palladium futures
Commodities
 
  #312 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


MiniP View Post
NQ was a pain in the ass to trade today.. wish I would of gotten the idea to sit out... maybe next time lol

-P

Yes it was... Looks like today may be better. Overnight volume looks good. Nice move up that started around 1 am my time. Several other smaller moves since then that followed my system.

Oil had an interesting spike that started around 4 am my time. Fast move up. Only took about an hour to move 1.30+ Kind of sideways since then.

6E has been the yo-yo this morning. Draghi speech and near constant mutterings about Brexit make for some wild rides.

No real scheduled news today to move the markets dramatically. However, there is always the chance for a Trump and Dump. Maybe he will have waffles for breakfast instead of pancakes and someone will take that as meaning he is waffling on tariffs or something. LOL!

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #313 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


Although it won't be official until they run the reports at the end of today but step one of the combine is now complete. I needed 159k and hit it with the last trade. Should start step 2 tomorrow.


Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #314 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672

Ok, all set for step 2. New account all set up and ready to go. Limited to just 3 contracts in the beginning. Scales up quickly. 15 contracts at just 4,500 profit.

Traded 15 contracts some during step 1. Profit/loss moves quickly at 75 bucks a tick. LOL! Had one trade that lasted just over a minute and netted over $2,600. Crazy.

If all goes as planned I should be eligible for a funded account sometime around October 2nd. Planning on attacking this step 2 full on starting Wednesday. With the way the markets are moving right now it should be another great day of trading. Time will tell.

No major news impacting NQ tomorrow. Volume was really good today, let's hope this continues.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #315 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672

Up a bit early this morning. I just woke up and was ready to go so I went.

Looking at the overnight chart, price movement was great during the first 2-3 hours of trading then dropped off to some chop. The overnight range was decent at just under 25 points. It is still early so volumes aren't quite as good as I had hoped. I will get a better idea as we get closer to US open.

89 tick chart (I only look at this early in the morning when volume is low):



200 tick chart:


Right now with the way it is chopping, there is no clarity in direction. So I will just wait..... or go make a good breakfast... or both....

I would like a good trending day today to start off step 2 in the right direction. Not like I did when I started step 1. LOL!

CL hasn't moved much overnight. It almost feels like the markets are just waiting for something. Trade war info? Trump talk? Who knows?

6E looks interesting.Would have been a great entry during London open. Would've, Could've, Should've. LOL!

6E 5 minute chart. Entry point highlighted with blue elipse:


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #316 (permalink)
 Grantx 
Reading UK
Legendary no drama Llama
 
Experience: None
Posts: 1,787 since Oct 2016
Thanks Given: 2,826
Thanks Received: 5,059


TradingOgre View Post

It almost feels like the markets are just waiting for something. Trade war info? Trump talk? Who knows?

Market completely shrugged off the the latest tariff news so that little edge is now gone. Its either pricing in something we are not even aware of yet or simply a higher timeframe rally back into liquidity. There must still be longer term demand for dollar just look at treasury yields...but that dollar index is showing one heck of a distribution pattern on the daily. Dollar is still bullish but it is difficult to ignore that pattern.


Edit: just noticed you were talking about CL. woops. I was banging on about currencies

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #317 (permalink)
Larix
Moscow/Russia
 
Posts: 135 since Jul 2015
Thanks Given: 18
Thanks Received: 38


TradingOgre View Post


CL hasn't moved much overnight. It almost feels like the markets are just waiting for something. Trade war info? Trump talk? Who knows?



Reply With Quote
Thanked by:
  #318 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


Larix View Post

Yup. Wednesdays are weird for CL. Still just watching it and not trading CL yet. The markets in general seem to be holding their breath this morning. But it can be that way early in the day. Sometimes trading early can be fun, just not last night. LOL! Glad I slept through most of it.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #319 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672

mmmmm.... a little spoofing going on?? LOL! Talk about an imbalance. Wonder what will happen when price gets there. Magically move or disappear? That's my guess.


Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #320 (permalink)
 tr8er 
Europe
Legendary Market Wizard
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 704 since Jan 2017
Thanks Given: 220
Thanks Received: 709


As you saw, no spoofing, 177 contracts traded

Reply With Quote
Thanked by:




Last Updated on May 12, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts