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Trading my way - NQ and possibly CL and TF


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Trading my way - NQ and possibly CL and TF

  #1 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15

Creating a Trading Journal for fun.

I haven't traded for over two years and decided to start again.

Since I am making good bank at the day job, I thought I'd start trading again (it's easier when it isn't your primary source of income).

I primarily trade the NQ because the risk/reward is to my liking and there are usually plenty of points to be had.

My main hours are the open till 8:00 AM PST. I will also keep an eye out for moves later in the day.

I trade by analyzing wave structure and fibs.

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  #3 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15


I've been playing around in SIM for the last two months and doing pretty good.

NinjaTrader brokerage seemed to find every possible way to screwup my account setup, so I went live after the good move this morning.

The first trade was a sim. 10:23 am PST.

Sell 7121.25
Stop: 7131.50
Target: 7026

Still Working

LIVE @ 10:42 Am

Sell: 7124.75
Stop: 7134.75 (initial)
Target:7109.75 (hit)
Time in ~53 minutes

Profit $300.00

The best part about this trade is I was doing my regular work and just glancing at it until it hit the target. I could have held for another 15 points but decided a quick win was a good start. Usually, between 9 am to 12 pm sucks unless there is a trend day.

See what tomorrow morning looks like.

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  #4 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15

I'm at work so I can't go into much detail, but it was another good day.

I had two short trades.

Total profit, $435.00.

One at the open, but I got twitchy and bailed. + $35.00

Second at about 6:40

Short: 7149.50
Target 7129.50 = + $400.00

Edit

3rd Trade 11:30 am Counter Trend
I entered with two contracts by accident. The stop was only $40 more than usual, so no biggie.


Short 7160.00
Target 7140.00

I saw this start to develop and decided to jump on. Moved my stop to 7157 pretty quick to lock in 3 points. It went in my favor, but I should have taken off at 7148. I had to step away from my desk so I was fine taking the smaller amount. Oh well, I still banked another $120.

Total: $555.00

Weekly Total: $855.00

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  #5 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15

General Trading Rules

All of these rules are for the NQ and one (1) contract. Same rules apply for more contracts, but I try to reduce my stop size with better entries.

My entries and exits are from a 10R chart. Anything smaller and you are just looking at noise.

Structure Charts:
35R – Good for seeing the complete day.
70R – Good to see the equivalent of a 120 min chart, but with structure.
5 min – good to see confirmation of turning points.
60 min – Just because
Daily – Keep the HTF in mind.



I trade with zero indicators. On some higher time frame charts, I use a moving average band.

Stop: 10 points $200.00
Targets: 15 – 50 points $300 - $1,000

If I get two consecutive stops in a row, I call it a day. I'm either not seeing the market correctly, or pressing. Either way, bad things will usually follow.

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  #6 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15





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  #7 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15

In retrospect, the trade of the day was long from ~9:00 am to 12 pm.

Friday's are usually pretty low volume and without great moves. Everyone was getting short from ~7 am to 9 am. The short squeeze that started @ 9 am (PST) was a highly likely outcome.

It would have been very low risk to go long at the turn and then get even in about 10 mins. Oh well.

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  #8 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
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AM Session

NQ - I started off with a loser for $145.00. It was too close to the open and a poor entry.

Took a quick TF trade for a $195.00 win.

NQ – Re-entered short @ 7207.00, target 7067.00.

40-point winner. = $800.00

I held through the retrace and hit the target @ 8:00 am or so.

Total for the day: $850.00

I will post charts later this evening.

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  #9 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15





Wow...what a day. Not many times you can grab 40 points and leave another 80 points on the table.

The Bad:
I made a rookie mistake and entered too soon after the open. Dumb, but I recovered really fast with a TF short for $195.00 (not shown).

I left 80 points on the table. I chalk that up to just returning to trading.

The Good:

Once I re-entered, I held to the target I had set.

Days Total: $850.00

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  #10 (permalink)
FalseProphet
San Diego, CA 92101
 
Posts: 20 since Jan 2019
Thanks Given: 1
Thanks Received: 15


Well, you can't always win

1st - Took a $210 loss between the open and 7:00 am.

2nd - Out, break even.

3rd - Took a $100 loss.

Total: -$310.00

I should have just left it alone after yesterdays bigger move.

Tomorrow's another day.

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Last Updated on March 10, 2019


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