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My Trading Journal: just a few trades a day


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My Trading Journal: just a few trades a day

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  #1 (permalink)
Argyle Texas
 
Experience: Intermediate
Platform: NinjaTrader, Jigsaw
Broker: NT/Dorman, Oanda, ThinkorSwim
Trading: ES CL 6E MES ZB
 
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Posts: 137 since May 2011
Thanks: 3 given, 121 received

I am creating this journal to log my good and bad trades. I am attempting to grow a small account by only taking a few trades a day and then switching to demo mode for the rest of the day. This should keep me from overtrading. Since it is a small account, I may from time to time have to refund the account.

Method:
One trade before 9am CST each trading day.
Market structure for trades. (support, resistance, trend lines)
10 tick stop loss (@$100 stop for the day)(manual stop and entered worse case stop above structure)
4 tick target ($50.00 target for the day)
One lot per $1000 entry

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  #3 (permalink)
Argyle Texas
 
Experience: Intermediate
Platform: NinjaTrader, Jigsaw
Broker: NT/Dorman, Oanda, ThinkorSwim
Trading: ES CL 6E MES ZB
 
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Posts: 137 since May 2011
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Small loss for the day. I was too close to a news release.

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  #4 (permalink)
Legendary Elite_Member
Wiltshire, United Kingdom
 
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jpygbp View Post
Small loss for the day.

I don't know if I would call it a small loss.
You say you are targeting 2-4 ticks on a trade. The first day you took two trades and made 1 tick and 2 ticks, 3 ticks for the day.
The next day you take one trade for a loss of 22 ticks (5.5 points), for the day.
You are going to need a very high win rate for this to work. Even with a 10 tick stop you would need an 80-90% win rate just to break even.
On your first two trades you could have made 4-5 times the amount just holding on a few minutes longer back down to the recent low as the trend was down.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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  #5 (permalink)
Argyle Texas
 
Experience: Intermediate
Platform: NinjaTrader, Jigsaw
Broker: NT/Dorman, Oanda, ThinkorSwim
Trading: ES CL 6E MES ZB
 
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Posts: 137 since May 2011
Thanks: 3 given, 121 received

Yes, I a agree. A few mistakes on the first two days. I will have to tighten up the stops and be more patient.

I had a loss this morning but cut it off quickly before 10 ticks. If I have over $100 loss for the day, I stop.

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  #6 (permalink)
Netherlands
 
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I don't know what trading method you are using, but in this forum there are plenty to find.
One person in this forum that I like to mention is Perry G.
He moderated several webinars here about his method. And contributed with hundreds reactions to explain his method.
I just can recommend to have a look at it.
https://futures.io/articles/trading/Perrys-Method-Part-II

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  #7 (permalink)
Argyle Texas
 
Experience: Intermediate
Platform: NinjaTrader, Jigsaw
Broker: NT/Dorman, Oanda, ThinkorSwim
Trading: ES CL 6E MES ZB
 
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Posts: 137 since May 2011
Thanks: 3 given, 121 received

A few demo trades since it is after 9am cst. The market moves a bit quicker to fill my targets. I think a 4 tick target would have worked for these.

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  #8 (permalink)
Argyle Texas
 
Experience: Intermediate
Platform: NinjaTrader, Jigsaw
Broker: NT/Dorman, Oanda, ThinkorSwim
Trading: ES CL 6E MES ZB
 
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Posts: 137 since May 2011
Thanks: 3 given, 121 received

Testing out my ATM with a 4 tick target and 8 tick stop. The market has to be moving well in a direction otherwise, the stops will get hit too often. I tried larger stops but when they are hit it is too much of a loss.

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Argyle Texas
 
Experience: Intermediate
Platform: NinjaTrader, Jigsaw
Broker: NT/Dorman, Oanda, ThinkorSwim
Trading: ES CL 6E MES ZB
 
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Posts: 137 since May 2011
Thanks: 3 given, 121 received

Today's trades during less busy period.

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  #10 (permalink)
Argyle Texas
 
Experience: Intermediate
Platform: NinjaTrader, Jigsaw
Broker: NT/Dorman, Oanda, ThinkorSwim
Trading: ES CL 6E MES ZB
 
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Posts: 137 since May 2011
Thanks: 3 given, 121 received


A trade for a small profit. The stops can easily get in the way with this action.

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