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Futures.io Journal Entry For Contest
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Futures.io Journal Entry For Contest

  #1 (permalink)
Trading Apprentice
Kansas City, Kansas/United States of America
 
Trading Experience: Beginner
Platform: Sierra Chart
Favorite Futures: CL, GC, Currency Futures, NG
 
Posts: 5 since Oct 2017
Thanks: 0 given, 3 received

Futures.io Journal Entry For Contest

Goals For The Week
1. Fantastic Goal:

1. 3 HTT's with No Trader Errors
2. 0 Stops
2. Better Than Average

1. Execute my plan with no trade errors.
2. I will not cover trades unless I hit my target, or I can see clear rejection (NOT SPEED!)

1. Target is 2:1 if you don't have another target. If 2:1 seems totally unreasonable, we don't put it on.
2. 2.25R means trail 7 tick stop.
3. For the Week

1. FIND THE THEME OF THE DAY!
2. Continue the HTF planning and HTF S/R levels that give us an edge on the intra-day stuff.
3. Continue t use the early morning ETH to plan the opening swing and react accordingly
4. Forget the last trade and the last day. Just let it go.
5. Do NOT mistake price advantage for being conservative. Your NORMAL entry -2 - not moving it around....not looking for the PERFECT.....get your order in.
6. WATCH AND USE Market Structure in your zones!
7. One Day with 3 HTT's and 8 HTT's for the week.7 stops instead of 8.

Video Review: I post a you tube video for every day as well - but I can't include that here.

Top Of Mind
1. Conservative Again - saw the first move down - didn't jump it. Wasn't fully prepared though, because I didn't SEE the open.
2. Theme of the day probably will only come into view when I see the market structure on the H/I and Day Time Frame all as one.
3. Priority around where my BEST opportunity is and being nimble.
4. Completely need the market structure if I'm going to expand my abilities.
5. Self-Talk
6. I don't need to fix anything, just keep pressing what I know and holding and struggling with it. I'll eventually get the bigger moves.

Trade 1:

CHART STRUCTURE:
[](1) PB2DV [](3) PB2DVZipper [](2) ZoneBreakout [x](2) ZoneFade [](4) PB2MID [](1) O/S Trade [](2) PB.C
[]ES [x]CL[]Long
[x]Short []Balance []HIR []HOR []LIR []LOR[]OSSW
[x]OSSS []OSLW []OSLS [x]CD: Both Short []CD: Both Long []CD: No Clear Bias []Swing H/L To Work Off [x]Price Advantage
[]I See The Theme Of The Day []I Don't See The Theme Of The Day
[]MD [x]MF []LRot []LRev

EXECUTION: []Scaled Early []Scaled Late [x]Scaled As Planned []HTT: YES[]EXIT: Stopped Out Following Trade Idea []EXIT: Stop Out Closing Down Risk []Exit: Covering Early []Exit: Rejection Cover []Exit: No Longer Trust The Trade []Exit: HTT [x]EXIT: Trailing StopObservations of this Trade:
* Very large sell off, taking the first PB and test of VAL after leaving it. Expecting a flush.
* FP showing lots of lifting at the top of the range
* Cut my risk to the Swing High at VWAP, another test will break it, in my experrience.
* Used price advantage to only have 7 ticks of risk.
* RESULT:

* Scale: 14
* Exit: +3 Trailing Stop.
* R:
* Trade Execution: [x]A []B []C []F
* Trade Management: [x]A []B []C []F
* Did You Touch Your Controls Before You Were Suppose To?
* No, I did not.
* Would You Take This Again?
* Yes.
* What Could You Have Improved About This Trade?
* I could have used a scale in and given myself even more price advantage. Given the OE' we're very likely to make it to VWAP, so either full size there, or scale in at value and full size at vwap.

CRITICAL MOMENTS: [] 2nd Try []FOMO []Single Signal []Trade Error

Trade 2:

CHART STRUCTURE:
[](1) PB2DV [x](3) PB2DVZipper [](2) ZoneBreakout [](2) ZoneFade [](4) PB2MID [](1) O/S Trade [](2) PB.C

[x]ES []CL[]Long []Short []Balance []HIR []HOR [x]LIR []LOR[x]OSSW []OSSS []OSLW []OSLS [x]CD: Both Short []CD: Both Long []CD: No Clear Bias []Swing H/L To Work Off []Price Advantage

[]I See The Theme Of The Day [x]I Don't See The Theme Of The Day
[]MD [x]MF []LRot []LRevEXECUTION: []Scaled Early []Scaled Late []Scaled As Planned []HTT: YES[x]EXIT: Stopped Out Following Trade Idea []EXIT: Stop Out Closing Down Risk []Exit: Covering Early []Exit: Rejection Cover []Exit: No Longer Trust The Trade []Exit: HTT []EXIT: Trailing Stop

Observations of this Trade:
* Main reason for this trade was that we'd balanced, made a new HOD, and popped out of DV for a 2nd time.
* 9am news most likely the reason for this not working out. I didn't think there was any news that mattered today.
* RESULT:

* Scale:
* Exit: Full Stop.
* R:
* Trade Execution: [x]A []B []C []F
* Trade Management: [x]A []B []C []F
* Did You Touch Your Controls Before You Were Suppose To?

* No.
* Would You Take This Again?

* No, I don't think so. I think I just got a little bored and focused on the shape rather than the context.
* What Could You Have Improved About This Trade?

* I don't really think it can be improved. I saw balance but thought I could get a ride to the HOD.
* Short risk, absolutely short risk. I took a full stop and I didn't need to.

CRITICAL MOMENTS: [] 2nd Try []FOMO []Single Signal []Trade Error

Trade 3:

I was stalking a CL trade short. I saw accumulation and what it looked like to me was that we were accumulating to the long side. However, and I think this is key, on the last rotation before the move there was 754 contracts...so basically, buyers gave up on that last rotation and decided not to buy, so sellers win out and all the buyers have to liquidate to not get killed. This is KEY; I think this skill and awareness is starting to grow.I got a system entry indication at 9:16 am and and thought that after such a large move short that selling that deep was too aggressive. I had OTF reasons above and felt that it made more sense to set that up. While I was doing that a scale move happened at my system entry - but because I wasn't in it, I chose not to chase it.2/4/2019 9:32 AM Next trade has vwap, mid, pDayLow - so, expect quick move, take profits re-trace. Either scale out and re-take or leave risk on. Decide once you hit your scale.I have price advantage, 8 ticks risk. No swing low to work off of; that's above us.The last time this happened I expected a fast reaction and got scared out. Not this time.Counting this as two trades - it's either take the bust or take it again, so I'm splitting the risk between the two trades because I have a Swing Low and an LVN right at the IB. Scale and Trail Takeout. I can re-take this but the way in which this setup makes me think that sellers are not firmly in control anymore. So I'm SOH.

CHART STRUCTURE: [](1) PB2DV [](3) PB2DVZipper [](2) ZoneBreakout [](2) ZoneFade [x](4) PB2MID [](1) O/S Trade [](2) PB.C[]ES [x]CL[]Long [x]Short []Balance []HIR []HOR [x]LIR []LOR[]OSSW [x]OSSS []OSLW []OSLS [x]CD: Both Short []CD: Both Long []CD: No Clear Bias []Swing H/L To Work Off []Price Advantage[x]

I See The Theme Of The Day []I Don't See The Theme Of The Day

[]MD [x]MF []LRot []LRevEXECUTION: []Scaled Early []Scaled Late [x]Scaled As Planned []HTT: YES[]EXIT: Stopped Out Following Trade Idea []EXIT: Stop Out Closing Down Risk []Exit: Covering Early []Exit: Rejection Cover []Exit: No Longer Trust The Trade []Exit: HTT [x]EXIT: Trailing Stop

Observations of this Trade:
* Market structure played a roll here again.
* Decided not to re-enter due to what happened while at my entry location - this was a mistake that cost me.
* RESULT:

* Scale: Full Scale
* Exit: Trail
* R:
* Trade Execution: [x]A []B []C []F
* Trade Management: [x]A []B []C []F
* Did You Touch Your Controls Before You Were Suppose To?
* No.
* Would You Take This Again?
* Yes.
* What Could You Have Improved About This Trade?
* One idea here is that I could have scaled in again - because I ended up putting more risk on it than I wanted to because in the zone I saw two potential trades. Having been in this trade before I didn't want to do that. So, I just split the difference of the two and held the trade. When the move started, I just moved my risk back down to 7ticks.
* I also could have taken it again because on ETH, it clearly shows a move out of DV after not making VWAP, so we expect a large move. So lack of being nimble there and only thinking about risk and ticks. A quick re-take COMPLETELY makes sense here.

*
*

CRITICAL MOMENTS: [] 2nd Try []FOMO []Single Signal []Trade Error Trade 4: PLAY:Structure Of The Day:REGIME | SENTIMENT | O/N ACTION | OPEN LOCATION AND OPENING SWING | FIRST IMPULSE | OPEN STATISTICS

Did not short at .22 short on the first touch. Not sure I get filled with price advantage, which I DEF want there, but I would get a scale. Day starting to look neutral, to NE. We left value, re-entered, tested low and SPRUNG up to the other side. So, if we get out of DV again, I'm gonna try for a move to VWAP, if we break the IB low again, I'm not sure what my best move would be but to probably wait for the pLOD to be taken out again.Main Ideas I'm Seeing Now

2/4/2019 10:56 AM I have a meeting for work. NO TRADING.

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