Salao's Journal--Skiff on the Gulf Stream - Trading Journals | futures io social day trading
futures io futures trading


Salao's Journal--Skiff on the Gulf Stream
Updated: Views / Replies:5,059 / 199
Created: by Salao Attachments:112

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 112  
 
Thread Tools Search this Thread
 

Salao's Journal--Skiff on the Gulf Stream

  #31 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received

Stopped out overnight for +26.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
 
  #32 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received

Day 6--Paper trading

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


+24 ticks, 3 trades.

Recovered from afternoon session debacle (-20) with a well executed overnight trade (+26). Taylor rhythm alerted me to sell side bias in the morning and strategy 1 gave me an entry at 2653.5 for a short. Stopped out at 2649 (+18). I was at work while this trade was on and was too conservative with my STOP because I wasn't paying close attention to it (due to being at work).

I had all day to think about how I missed out on a nice move in my direction because of a carelessly placed STOP. For now I've decided to begin outlining a procedure for placing STOPs in my trading plan. I want clear and concise directions for placing stops and trailing them. I want to avoid careless STOP placements.


Last edited by Salao; January 22nd, 2019 at 08:29 PM. Reason: wanted to add more info
Reply With Quote
The following 2 users say Thank You to Salao for this post:
 
  #33 (permalink)
Market Wizard
Sarasota FL
 
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, YM
 
Posts: 4,699 since Jan 2013
Thanks: 35,150 given, 15,585 received
Forum Reputation: Legendary



Salao View Post
For now I've decided to begin outlining a procedure for placing STOPs in my trading plan. I want clear and concise directions for placing stops and trailing them. I want to avoid careless STOP placements.

Good idea. Stops are exit points, and you need rules for them just as much as for entries.


Quoting 
Taylor rhythm alerted me to sell side bias in the morning and strategy 1 gave me an entry at 2653.5 for a short.

What is a Taylor rhythm? Not sure I've heard of that before.

Bob.

Reply With Quote
 
  #34 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received


bobwest View Post
Good idea. Stops are exit points, and you need rules for them just as much as for entries.



What is a Taylor rhythm? Not sure I've heard of that before.

Bob.

I was referring to George Douglass Taylor's 3 day cycles. His thesis is that the markets move in these three day cycles that are labeled buy day, sell day, and sell short day. It basically is a structure to trade within that gives you a bias for the day, characteristics for each day, and rules to follow depending on how the day unfolds.

He was a commodities trader in the 50s. His book is called the Taylor Trading Technique. I used his methodology for stocks for 7 or 8 years and am carrying it over to the ES. I like it because it gives me a nice set of rules that help keep me out of trouble. I'm leaning on it quite a bit due to lack of experience with futures.

Sent using the futures.io mobile app

Reply With Quote
The following 2 users say Thank You to Salao for this post:
 
  #35 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received

Day 7-Paper Trading

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Evening session trade. Signaled in using Strat 3.1, pull back signal. I moved the STOP up after 10 bars of listless action. If it doesn't work right away, kill it. -10. OK with this trade. Followed my pre-trade procedures and newly minted STOP rules. Rule following is easy paper trading. My goal is to practice following these procedures during paper trade so they become automatic when emotions come pouring in during live. If I stick to the game plan, it's OK to let the chips fall where they may. Anybody have the winning game plan?

No other trades for the day. Too busy at work for the ES.

Reply With Quote
The following user says Thank You to Salao for this post:
 
  #36 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received

Day 8-Paper trading

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


I got chopped up in yesterday's evening session. Two trades, -15 ticks (not shown).

The way my first trade for the morning session ended made me think a range day was at hand. So I took my second trade with a smaller target in mind and smaller risk. I tightened my STOP up a little and trailed it tightly once my target area was hit at 2642.75. Two day session trades, +19.

I've been reflecting on STOP placement and trailing. Ill be into my trading plan this weekend outlining nuances for STOP management during trend days and range days.

I'm not sure if it's normal for most traders, but exit seems way more difficult than entry...at least for now.

I had no time tonight to prep for tomorrows trade day, so I won't be trading. It's too bad too. Seemed like there were some pretty sweet setups during the evening session, but just a cursory glance.

+4/day.

Reply With Quote
The following user says Thank You to Salao for this post:
 
  #37 (permalink)
Market Wizard
Sarasota FL
 
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, YM
 
Posts: 4,699 since Jan 2013
Thanks: 35,150 given, 15,585 received
Forum Reputation: Legendary


Salao View Post
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


I got chopped up in yesterday's evening session. Two trades, -15 ticks (not shown).

...

I'm not sure if it's normal for most traders, but exit seems way more difficult than entry...at least for now.

Yeah.

The exit is what makes the entry profitable or not, as well as what cuts the loss if that's what is needed.

It's a big deal, and it's hard to get it so it works for you, in my experience. (I have a lot of experience with not getting it to work, so I'm sort of an expert on that side of it, not necessarily on the "working" side, though.... )

Bob.

Reply With Quote
The following user says Thank You to bobwest for this post:
 
  #38 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received

Some results...

About two weeks of paper trading my system in ES:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Strat 1 has a win rate of 85% by itself. My other 4 strategies have a win rate of 25% combined.

I'll have to do a better job of documenting my market reads in this journal. But I suspect I have more of a clear market thesis during Strat 1 entries...at least relative to my other strategies. Three of the remaining four strategies are attempts to catch a pull back during a trend. So I suspect my entries during these trades are sloppy due to FOMO...obviously, at least thus far, my market reads for the 3 ineffective strategies have been wrong. During execution of these strategies I think my thought process is limited to watching the market for an opportunity to get in, while remaining blind to the reasons I should stay out. It's either this or the strategies are just losers.

At any rate...small sample size so far.

I put in a lot of work on my trading plan this weekend mostly pertaining to pre-execution routine (market read, organize info, etc) and STOPs. I will be testing this part of my plan as well. I will be testing to see if my pre-execution routine is repeatable, keeps me loose, mitigates the influence of emotion (yeah I know it will be difficult to do during paper trade), makes money, etc.

Reply With Quote
 
  #39 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received

Day 9-Paper trading

Not a whole lot to report...I'll be trading somewhat sporadically due to how busy I am at work. I put on this short last night after being signaled in by Strat 1. The signal made a lot of sense due to the series of lower highs being made. I just longed out too early kind of spastically.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


-6/day. Missed out on a good one here.

Reply With Quote
 
  #40 (permalink)
Elite Member
Riverside CA
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Broker/Data: NinjaTrader, TD
Favorite Futures: ES, CL, RTY
 
Posts: 202 since Jun 2017
Thanks: 702 given, 386 received

Day 10-Paper trading


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Trade 1: Wasn't my finest moment. I have rules to keep out of selling into demand zones. I took the short, probably due to being tired and seeing something that wasn't there...It's seems so much more clear in hindsight. The trade didn't really go any where so I longed out with a small loss.

Trade 2: I thought I would jump on an early morning trend hoping I could just ride it for the rest of the day. After watching for a little bit, it became clear, there would be no continuation. So I sold for another small loss.

Trade 3: I found a pretty decent spot to sell after price had been rejected up in the 2650 area. The trade worked right away too for an MFE of over 10 points! My goal was to not close out until I saw a compelling sell signal. After a recent bout of impatience I've resolved to let things run a little. SO...the market rewarded my patience today by marching against me without providing a compelling sell signal. I ended up closing for a small gain.

I feel like the market made me look cartoonish today. HAHA! Reflection on today's activity will be had.

-13 ticks/day.

Reply With Quote

Reply



futures io > > > Salao's Journal--Skiff on the Gulf Stream




Upcoming Webinars and Events (4:30PM ET unless noted)
 

futures io is celebrating 10-years w/ over $18,000 in prizes!

Right now
 

Pro Trader vs Pro Athlete w/Brannigan Barrett @ Habitus Capital

Elite only
 

60 Minutes to Better Decisions & Better Trades w/Agustin Lebron

Elite only
 

Live Day Trading the E-MICROS w/Ilan @ Cannon (special time: 12PM ET)

May 30
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
berkshire hathaway live stream lsubeano Off-Topic 1 April 30th, 2016 05:18 PM
Style Drift -Changing your strategy mid stream Silver Dragon Psychology and Money Management 2 March 26th, 2013 12:02 AM
Ninjatrader 7 with eoddata.com stream fernlicht Reviews of Brokers and Data Feeds 2 March 21st, 2012 07:27 PM
Super Bowl 2012 Live Stream Freely Available On NBCSports.com GridKing News and Current Events 0 February 5th, 2012 02:29 PM
anyone know how can i stream live OHLC from MT4 to excel? onetwosome MetaTrader 5 January 20th, 2011 06:40 PM


Tags
5m_chart, bid/ask, broker, brokers, buy, china, data, data feed, data provider, dow, elite, ema, error, es, est, funded account, funding, futures, futures markets, futures trading, how to, information, instrument, journal, limit, list, long term, loss, market order, mes, micro, micros, momentum, news, nyse, options, orders, paper, paper trading, people, platform, price action, profitable, ream, resistance, reward, risk management, sample, scalper, scalping, short, short term, sierra, sim, sim trading, sim_trading, size, slippage, spread, squeeze, statistical, stocks, strategy, support, support_and_resistance, think or swim, thinkorswim, tick, top, tos, trade plan, traded, trading, trading career, training, trend, type, volume

All times are GMT -4. The time now is 01:16 PM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, info@futures.io
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.
no new posts
Page generated 2019-05-22 in 0.19 seconds with 15 queries on phoenix