Trade888 CL Journal Feb '19

February 19th, 2019, 12:27 AM

Mike keeps suggesting we journal to improve.
I have started many journalling efforts privately but they always run out of steam.
So here is an open effort.
Suggestions always welcome.
I trade CL ; ES and UB but will focus this on CL
There is a simple rule on my monitor:
"Buy an Up move and Sell a down move"
What could be simpler?

CLJ currently 5617
Monthly R1=5808 and S1= 4757
Bounced up from PP 5157
HH HL HH on daily
50% retrace of drop Oct to Dec is ~ 60.00

Comments start in the morning.

February 19th, 2019, 12:36 AM

February 19th, 2019, 08:57 AM

548 time is Pacific
ON range is small at 62 tics 5660 to 5630 last few hours
ATR is 1.67 look for range extension
up move could lead to R1 monthly 5808 this month
move over week from 5160 seems to be stalling now 5635
at VWAP
TLB on 6000 T chart
Daily R1 5676 S1 5613
Poss buy at 5610

February 19th, 2019, 10:08 AM

As soon as I decide to trade a range you can bet it will break out.
at the open fell to lower VWAP band and I bot the bounce 5621 looking for a range trade
Bias is up
willing to average down maybe at the even 5600
Wrong to buy early
waited for opening push to average down at 5581
but again bot to early
got lucky and retrace to 61% of drop and VWAP
up 26 tics but was down 70 at low

February 19th, 2019, 10:23 AM

Thinking it was stalled at VWAP
Now bias down seeing the opening push
TLB sold 5615 but stopped 5632
now looking to buy lower or sell higher

February 19th, 2019, 11:13 AM

Had intended to buy a pullback to VWAP but had a LH and TLB so went short
willing to sell again higher
missed target at 5581 by 3 tics
seems to be firming up ; closed trade and put stop buy at 5606

February 19th, 2019, 11:31 AM

below POC and VWAP
bias short
LH and TLB reversed to short

February 19th, 2019, 03:10 PM

The reversal trade at 5602 could not have been done at a worse time.
I was nervous the turn up had failed ,
In fact the low at 5592 was a double bottom and at the time I reversed the background turned green and price was back above the 100 Mid and the rally got going.
I was willing to average in at the previous highs.
the add on at 5638 was again early.
I need to wait for the turns.
Was looking for 5600 for the 2nd part but got nervous at 11:15 there was no follow through
and closed at the right time.
Missed the rally into the close.

February 19th, 2019, 03:26 PM

up 36 tics
Did OK: Did not panic when trades went against me
held on for 20 - 30 tics on some of the winners
Closed some trades at the right spot when there was no follow through instead of waiting to get stops hit

Not OK: Did not reverse on the opening thrust.
Got in and out too early instead of waiting for confirmations
reversed when the signal had not happened
Again did not reverse when clearly on wrong side.
There were 2 good runs where I was on wrong side.

Lucky it was a range day with range of only 96 tic

Trade888 CL Journal Feb '19

Discussion in Trading Journals

Trade888 CL Journal Feb '19