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E3rcís Journal, The Road to Success
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E3rcís Journal, The Road to Success

  #1 (permalink)
Elite Member
Thurmont, MD
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
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Posts: 25 since Jan 2019
Thanks: 4 given, 4 received

E3rcís Journal, The Road to Success

I have just recently started my journey down the path of learning how to trade. It started, more in depth as of the beginning of November. Though I have been interested in trading for many years, it has been off an on, learning what I need then thinking how I could achieve that, first it was finding out I need $25k to start, saw that and tried to save for that, but then life smacked me hard. Then I tried again and wanted to practice trading before really getting into it and really getting lost in where to start.

I pulled the trigger several times to learn. That first step was back in November where I saw something on Ricky Gutierrez and thought that maybe this kid knows something and could teach it. Research showed me the value was more in the Chat Room than the course, so I paid for his course and got an idea of the basics and came away with more questions than answers. None the less, it showed me that I can practice using ThinkorSwim. That and I noticed, to me, he was not much of a teacher and only pointed out things that worked for him. Such as waiting for the confirmation (which I donít think he really explained all that well) and know a market (ETFís in his case) and trade when it is going up. Looking at things I was not very successful and watched more YouTube University and tried things that were suggested.

After all that, I tried once again and thought I remember someone saying that learning to trade Futures was a good way to learn and those markets where more predictable. So I started practice trading the E-Mini S&P 500, where I feel I had some success but not much more than 50% as I will have a streak of good trades and days, then one day I lose almost all those gains and am back to square one. I would be good at putting a stop loss in for about 1 tick and a limit 2 ticks away. I remember watching Marcello Arrambide when I first was getting interested in trading years ago and thought I could use his course. Shelled out more money, did the course work and watched the videos, and yeaÖI am sure his system works for him. I have tried his system on Ninjatrader and for the life of me could not replicate the trades or figure out what made a trade more valid than another. I think the quick movement, of a modified MACD that looked like the signal line and macd line removed, moves Sharply up or down, and price moved above the middle KeltnerBand line, grabbing the retracement seemed to be their system. After learning this, I have changed it a bit to use with ThinkorSwim so I can test it on a live market on papertrading. I think I have better results with using a normal MACD and the 2.25 ATR on a Keltner. Though I still am not consistent and am about 50% or less accurate on trades.
Phew! Now after that and doing more reading I came across this Forum and read a few Stickies and watched a few webinars and wanted more information after reading all of this thread . I am currently joined up on Adam Grimes site and going through his material, which is good information, and is structured, which makes my brain happy at least. I am eyeing a suggestion from that tread of going to get more info from Price Action Trading System , but am still thinking about it.

Where I sit now, not all trades are valid, just cause the retracement hits the middle Keltner line, does not make it a valid trade. I used have a limit order and would chase the line when it broke above or below the middle line and the MACD just to catch the retracement. Since it was suggested from Adamís teachings to start now with journal entries, well, here they are. I just joined, so here is to continued education and being able to move on to being able to work from home.

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  #3 (permalink)
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Note:Need to find a more organized way to portray thinking.

Pre-Market Musing
Looks like the market will be sideways, just a hunch looking at downward trend and the following retracement and is looking like consolidation just above the middle Keltner line. Also, the Oscillator (3/10) slow line is hovering at 0. Not anticipating much movement.

How to read notes:
  • Time
  • Observations
  • Action
  • Result

Market Trading: Paper Trading /ES, using 1 contract size (2000 Tick Chart, Keltner(0, 2.25, 20), 3/10 Oscillator) with ThinkorSwim
  • 0934
  • Weak start and channeling, looking for a short off the peak from the set high on start
  • Sell Limit @2655.75 - Short
  • Order filled - Stop 2656.75, Limit 2653.75 - Limit reached position closed
  • 0938
  • Channel could end, possibly ending of consolidation
  • Buy Limit at 2651.50 - Long
  • Order filled and forgot to place stop and target, saw my target reached and closed position with 2 tick profit
  • 0956
  • in downtrend (weak), looking to take short on retracement
  • Sell at 2649.50 - Short
  • Order filled and stopped [missplaced stop loss, gave 7 points, instead of 4], [reason for trying, slow line below 0 and reaching top of arc for momentum of MACD line], still continued to the downside)
  • 1011
  • Retracement on downtrend, looking to take short at 2645.75
  • Sell at 2645.75 - Short
  • Order filled and hit limit order
  • 1020
  • consolidation point (moving above middle Keltner and slow line above 0)
  • none
  • none
  • 1025
  • Broke downward trend line and is moving upward, considering trade in up trend channel.
  • none
  • none
  • 1028
  • Test of new uptrend line off Keltner Center, looking to take long at 2646.75
  • Buy at 2646.75 - Long
  • Limit Filled

Target Met, $312.50 profit for the day. No more trading.

End of Day
Looks like there was some good day trades on the way down. Power hour looks like it lived up to its name, 3pm - 4pm had some strong movements. I am not sure how to catch those type of runners, but hopefully soon.

*Edit note, well guess table tags don't work.

Attached Thumbnails
-trades-1_22.jpg  

Last edited by E3rc; January 23rd, 2019 at 07:54 AM. Reason: Coding info
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  #4 (permalink)
Elite Member
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Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
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Posts: 25 since Jan 2019
Thanks: 4 given, 4 received

Pre Market View
Going to trade the ES market (it is all I know at the moment), there is a very defined up channel that it seems to be respecting all night. Double bottom (around 2628, though it is the shadow that, not the body) reached as well during early hours. Could play a role later, not sure. I expect the ES to continue upward, no highs or lows made during market hours.

How to read notes:
  • Time
  • Observations
  • Action
  • Result

Market Trading: Paper Trading /ES, using 1 contract size (2000 Tick Chart, Keltner(0, 2.25, 20), 3/10 Oscillator) with ThinkorSwim
Rule: Trades from channel lines or middle Keltner with trend, taking a position with 1 Tick Stop and 2 Tick Target
  • 0933
  • Market Movement seems to have some resistance at 2647.50, in up trend still. Going for middle line test and continuation.
  • Long @2647.26 - Filled
  • Limit Reached +2
  • 0940
  • Keltner Channels very close. About 2 ticks above and below, still moving around the middle line. Possible momentum up swing as slow line and macd line approach the 0 line.
  • Long @ 2647.50 - Filled
  • Stop reached - 1
  • 0950
  • Waiting for better movement. Middle line test, looking for possible long entry (954). Market seems to be between upper and middle, lots of small movements. Taking long, no stop (risky, but seeing the slow line staying above 0 and not pointing down, market should come back)
  • Long @ 2650.00 - Filled
  • Limit Reached + 2
  • 1009
  • Market making HH and HL, slowing down and possible staring of consolidation. 1013, momentum in down direction (slow line below 0 and market movement below middle line), maintaining consolidation @ 1016. Stronger downward trend @ 1020, looking for a short entry. Chasing line with short limit. 1029 Sliding along the bottom line (caution)
  • Short @ 2643.00 - Filled
  • Missed click sell limit, option filled - closed position @ 2640.25 +3.25

Target Met, $325.00 profit for the day. No more trading.

End of Day
I feel as though I was a little aggressive in my trading. And of all my trades, the safest was the last one but a debacle on closing that went in my favor. My rules were followed (as best I can if it where a proper stop), so following the drop would have been nice, there will be others.

Attached Thumbnails
-trades-1_23.jpg  

Last edited by E3rc; January 24th, 2019 at 08:08 AM.
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  #5 (permalink)
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Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
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Posts: 25 since Jan 2019
Thanks: 4 given, 4 received

Pre-Market
Trading the ES today. It looks like it will be choppy today. Already seeing the channel forming in the pre-hours from the open. I might have to change strategies or just wait for direction. As for some clarification, my observations are my own based on what I remember of things to look out for in support and resistance. I try to write what I am seeing as it unfolds and the candle sticks that are forming.

How to read notes:
  • Time
  • Observations
  • Action
  • Result

Market Trading: Paper Trading /ES, using 1 contract size (2000 Tick Chart, Keltner(0, 2.25, 20), 3/10 Oscillator) with ThinkorSwim
Rule: Trades from channel lines or middle Keltner with trend, taking a position with 1 Tick Stop and 2 Tick Target
  • 0934
  • Watching movement, seems to want to move downward, but is not really going for it. Missed a trade that would have been the bottom of the channel started (2640.50 [top] to 2634 ish[bottom])., waiting to see if respects it a bit more. 0937 - made a HL and broke LL, possible downward trend start. Chasing Middle line for short, in faster movement now.
  • Short @ 2633.75 - Filled (2 contracts) [breaking rule, going to sell 1 at +2, and chase bottom]
  • Too Confident, didn't place stop, closed position - 11.25 Tick loss
  • 0948
  • Momentum change, now up, retracement in work. Looking for trade of middle line
  • Long @ 2636.25 - Filled
  • Limit Reached +2
  • 0953
  • Slow line pointing up ward, momentum should follow, looking for another long.
  • Long @ 2636.75 - Filled
  • Stop Filled -1.25
  • 0958
  • Noticed the spike in upward price movement (tick at 9:45), hit the resistance area. 1006 - Moving sideways, unsure of entry points. Looks like issue with reaching resistance point. Placing short limit at previous peak.
  • Short @ 2640.25 - Filled
  • Stop filled - 1
  • 1016
  • Strong upward price movement, looking for long on middle line. 1020 Noticed the current peak at over night resistance level. New Range or current up trend start?
  • Long @ 2641.50 - Filled
  • Breaking rule again, stop placed 1 tick below and going to close when I see a spike to break the resistance area. +5.25

Done Trading for the Day - $325 Loss

End of Day
Shoulda, Coulda, Woulda...Stops are important. I would have been at least green today. Good lesson for paper trading not good to get over confident on a live trade.

Attached Thumbnails
-trades-1_24.jpg  

Last edited by E3rc; January 24th, 2019 at 04:58 PM.
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  #6 (permalink)
Elite Member
Thurmont, MD
 
Trading Experience: Beginner
Platform: NinjaTrader, TOS
Favorite Futures: Emini ES
 
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Posts: 25 since Jan 2019
Thanks: 4 given, 4 received

Pre-Market
After yesterday channeling I saw a few valid trades and brought my loss up to a -$200, but since I didn't document the movement and just happen to see the opportunity that look liked it could work in my favor I took it. Today, looks like it could be an uptrend day based on the pre-market, so I am going to look for entries along the middle line. Following rules, even if it looks tempting to try something new.

How to read notes:
  • Time
  • Observations
  • Action
  • Result

Market Trading: Paper Trading /ES, using 1 contract size (2000 Tick Chart, Keltner(0, 2.25, 20), 3/10 Oscillator) with ThinkorSwim
Rule: Trades from channel lines or middle Keltner with trend, taking a position with 1 Tick Stop and 2 Tick Target
  • 0932
  • Crossing Middle line, possible start to downtrend, catch move off middle line for continuation.
  • Sell @ 2658.50 - Filled
  • Stopped, reattempted for downtrend move, stopped again - 2
  • 0944
  • Moving around the middle line in consolidation, heavy volume at 2658 and 2657.75 (sure that can be read as something, but I am on trained in it), MACD slow line still below, but point upwards now, possible sign of continuation to the upside. Movement looks like it wants to go up to test to high of day, looking for long.
  • Buy @2659.25 - Filled
  • Limit reached (slippage) + 3
  • 0956
  • Slow line still maintaining above 0, could move back up, going to try for long off middle line to catch upward movement after the low movement finished.
  • Buy @ 2660.50 - Filled
  • Limit Reached + 2
  • 0956
  • Slow line still maintaining above 0, could move back up, going to try for long off middle line to catch upward movement after the low movement finished.
  • Buy @ 2660.50 - Filled
  • Limit Reached + 2
  • 1003
  • Top looks like it is rolling over, lots of wick and no bodies, movement looks like it wants to go up still though as next candles progress higher, looking for another trade off middle line. 1007 - Made new high, still maintaining a entry off middle line. 1015 - Still chasing but getting close to sliding territory, looking for long entry.
  • Buy @ 2665.50 - Filled
  • Limited Reached + 2
  • 1028
  • Loosing upward momentum, made HL and price at current bar wicked up to 2667.50, but nothing past it yet. 1031 bar broke, made new high. 1033 - Middle line tested, not taking entry, sitting on hands at this point, expecting direction change.
  • Sell @ 2664.50
  • Gave it all back - 7, though I would be on a downward movement and kept thinking i would turn around. (no stop set)

Done trading for the day $0, might keep an eye and look for sharp trends to catch, will see.

-Image to follow later today-


Last edited by E3rc; January 25th, 2019 at 11:46 AM.
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  #7 (permalink)
Market Wizard
Columbus OHIO
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NInjaTrader Brokerage
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Posts: 686 since May 2017
Thanks: 712 given, 1,514 received
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check this guys blog out tons of free info and lots of it is based around price action, to me price action is the way to go but that is what makes sense for me.

Nine Transitions


-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #8 (permalink)
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Trading Experience: Beginner
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Posts: 25 since Jan 2019
Thanks: 4 given, 4 received

End of Day
Looks like I was not quick enough to edit my last post to give an update on my thoughts and what I learned. Oh well, adapt and over come.

I did end up trying to trade a bit more but kept loosing, unit I saw a pattern and made it work for me. That made my day at a loss of -$150 or 3 Ticks (think I am using the right term, 1 Tick is 4 Points or 1 tick is $50 and 1 Point is $12.50). That last trade of the day really got me thinking about my trading and what I was seeing. Going back to learn more, I finished reading a few threads and looked at suggestions and it seems like price action is a recommendation that gets suggested quite a bit. Reflecting back on my how I trade, I thought was going this path, but do wonder at times. The next step is to recognize when price starts doing what was happening around 1200, where it would drop below the middle line, retrace back and consolidate there for a bit and just take me out at my stops. The last trade I took, I figured it was going to repeat itself (move down and consolidate) and using the MACD line crossing over the slow line as my entry time, it worked.

I did end my week green though, even if it was about $150 total. Reflecting back on learning to trade reminds me of some other fields, like drawing or excising. People who want to get better always ask what they need to do to get better, oddly the answer that sticks out is just doing it and focusing on something you want to make better. Anyone who is good at their field spent time building up the knowledge or muscle memory. That said, I think one thing that helped me was being shown that taking a trade off the middle line with Keltner Channels was a place to start. I know it is not the end all be all to trading. It has allowed me to see a basic way to enter and possibly profit, since I seem to blindly trust every trade I see off it there are times it works in my favor and others where it does not. I need to get over my fear of moving my stop or not using it, I know it is frustrating to be stopped and then watch the market move in the direction I thought it would. Dunno if that means I just need to open up my loss a bit more and also take in more profit to get the 1:2, or just take a 1:1 approach. Either way, I will spend some time reading the suggestion @MiniP has given, hopefully I can glean some useful data I can use.

Attached Thumbnails
-trades-1_25-early.jpg   -trades-1_25-afternoon.jpg  

Last edited by E3rc; January 26th, 2019 at 02:30 PM. Reason: Wording
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  #9 (permalink)
Market Wizard
Columbus OHIO
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NInjaTrader Brokerage
Favorite Futures: ES, 6E, 6J,
 
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Posts: 686 since May 2017
Thanks: 712 given, 1,514 received
Forum Reputation: Legendary


E3rc View Post
End of Day
Looks like I was not quick enough to edit my last post to give an update on my thoughts and what I learned. Oh well, adapt and over come.

I did end up trying to trade a bit more but kept loosing, unit I saw a pattern and made it work for me. That made my day at a loss of -$150 or 3 Ticks (think I am using the right term, 1 Tick is 4 Points or 1 tick is $50 and 1 Point is $12.50). That last trade of the day really got me thinking about my trading and what I was seeing. Going back to learn more, I finished reading a few threads and looked at suggestions and it seems like price action is a recommendation that gets suggested quite a bit. Reflecting back on my how I trade, I thought was going this path, but do wonder at times. The next step is to recognize when price starts doing what was happening around 1200, where it would drop below the middle line, retrace back and consolidate there for a bit and just take me out at my stops. The last trade I took, I figured it was going to repeat itself (move down and consolidate) and using the MACD line crossing over the slow line as my entry time, it worked.

I did end my week green though, even if it was about $150 total. Reflecting back on learning to trade reminds me of some other fields, like drawing or excising. People who want to get better always ask what they need to do to get better, oddly the answer that sticks out is just doing it and focusing on something you want to make better. Anyone who is good at their field spent time building up the knowledge or muscle memory. That said, I think one thing that helped me was being shown that taking a trade off the middle line with Keltner Channels was a place to start. I know it is not the end all be all to trading. It has allowed me to see a basic way to enter and possibly profit, since I seem to blindly trust every trade I see off it there are times it works in my favor and others where it does not. I need to get over my fear of moving my stop or not using it, I know it is frustrating to be stopped and then watch the market move in the direction I thought it would. Dunno if that means I just need to open up my loss a bit more and also take in more profit to get the 1:2, or just take a 1:1 approach. Either way, I will spend some time reading the suggestion @MiniP has given, hopefully I can glean some useful data I can use.

es = 1 tick is 12.50
4 ticks = 1 point = 50$

for one contract multiply by how many contracts you submit

please learn all these things before putting real money on the line.
I would suggest you look over all the CME contract spec info
and look at all the trading defentions you can find, I know https://www.investopedia.com/ has a lot of basic info

read,read,read

-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #10 (permalink)
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Posts: 25 since Jan 2019
Thanks: 4 given, 4 received



MiniP View Post
es = 1 tick is 12.50
4 ticks = 1 point = 50$

for one contract multiply by how many contracts you submit

please learn all these things before putting real money on the line.
I would suggest you look over all the CME contract spec info
and look at all the trading defentions you can find, I know https://www.investopedia.com/ has a lot of basic info

read,read,read

-P

Thanks for the info @MiniP but could you point me in the direction of what trading definitions, you are referring to? I am not aware if that is just knowing up trends, down trends and sideways movements or what was provided from the Nine Transitions Glossary, where each move or structure is named.

I agree whole heartily, with knowing these things before putting real money on the line. It is why I am here and am trying to get to an understanding and balance before I transition.


Last edited by E3rc; January 27th, 2019 at 12:18 PM.
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