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TradeTheBar Daily Journal
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Created: by kareem40 Attachments:222

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TradeTheBar Daily Journal

  #211 (permalink)
Mumbai, India
 
 
Posts: 45 since Jan 2019
Thanks: 54 given, 87 received


kareem40 View Post
I am back working from home for the next few weeks and even make it permanent . I finished trading early today with two good set ups on the ES. Here is the first trade, which was early in the morning. It was an easy trade to take with no heat at all and made target within 5 minutes.

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Trade two was not as fast and easy, but it was a clear signal. Low volume on down bars, higher volume on up bars. Then a 2B revs to get me long. It did take longer to target and did take some heat. A bar later China news come in to help. The better target would be Prior close ( which we are there as I post this), but I only wanted my profit target and stop trading. Monday is busy work day and I wanted to be done.

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My CL are still at almost full loss, but I am still hopeful and have one more to buy at 30 cent ( additional $30 risk). Again, major middle east development will get those options to $3-5 in no time at all. And we did have new development this morning. My indices swing trade are also better and will continue to hold until rollover ( or stop loss).

I traded well with no stress and no mistakes. I am up $229 on my closed trades today.

K

Your charts and trades are inspiring, keep up!

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  #212 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
Platform: NT, TS
Broker/Data: IB, Oanda
Favorite Futures: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 653 since May 2010
Thanks: 1,733 given, 863 received


LastDino View Post
Your charts and trades are inspiring, keep up!

Thank you @LastDino. Have you started a journal yet?

Take care,
K

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  #213 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
Platform: NT, TS
Broker/Data: IB, Oanda
Favorite Futures: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 653 since May 2010
Thanks: 1,733 given, 863 received

What If


I keep having the "daily target" argument with a online trading friend at a different forum. He is a very good trader and makes a very good living trading full time. He, just like @Big Mike feels there should never be a daily target. He is also saying that one day/month it will get me in trouble. I don't really agree, because after additional 6-8 months of the similar results I had for $200 per day, I can just add another contract/shares and keep doing the same thing for twice the money. But with that said, what if today I did not make the goal early and/or wanted more. Here is a chart of what I would have done. This is all hindsight but I did my best to be honest with myself. Today looked like I would have made more, but my experience does not agree with that premise:

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K

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  #214 (permalink)
Seattle WA/USA
 
Trading Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: NinjaTrader
Favorite Futures: CL, YM, ES
 
NW Trader's Avatar
 
Posts: 183 since Sep 2018
Thanks: 293 given, 567 received


kareem40 View Post
I keep having the "daily target" argument with a online trading friend at a different forum. He is a very good trader and makes a very good living trading full time. He, just like @Big Mike feels there should never be a daily target. He is also saying that one day/month it will get me in trouble. I don't really agree, because after additional 6-8 months of the similar results I had for $200 per day, I can just add another contract/shares and keep doing the same thing for twice the money. But with that said, what if today I did not make the goal early and/or wanted more. Here is a chart of what I would have done. This is all hindsight but I did my best to be honest with myself. Today looked like I would have made more, but my experience does not agree with that premise:

K

As I've already said, I think there is merit to both arguments. I'm giving the daily goal a try for awhile to see how I like it. Like so many other things in trading (and in life, for that matter), I just don't believe there is only one way to success, only one trading setup that works, only one money management strategy, etc. There are many, many successful traders and, while I will pay attention to anything they are generous enough to share, in the end I have to do what resonates with me and what works for me.

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #215 (permalink)
Mumbai, India
 
 
Posts: 45 since Jan 2019
Thanks: 54 given, 87 received


kareem40 View Post
Thank you @LastDino. Have you started a journal yet?

Take care,
K

Soon planning too

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  #216 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
Platform: NT, TS
Broker/Data: IB, Oanda
Favorite Futures: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 653 since May 2010
Thanks: 1,733 given, 863 received

Daily Trades 10-08-2019

Just one ES trade today. It was a VSA set up, but news come out later that gave me more heat that I am comfortable with! I held the trade due to the fact that all the preceding bar closes were at the high of the bar with lower volume. My swing indices and oil Futures options are taking a beating, but will continue to hold.

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Here is an update on my FX positions:

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I did not make my goal for the day, but will need to stop early due to other obligations. I am up $183 with stress and draw on my day and swing positions. No mistakes.

K

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  #217 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
Platform: NT, TS
Broker/Data: IB, Oanda
Favorite Futures: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 653 since May 2010
Thanks: 1,733 given, 863 received

Daily Trades 10-09-2019

Finished early again today, which is very good. The markets have been very hard to trade ( VSA set ups) today and this week so far. Price is all over the place. Both trades were news trades for few ticks. Some heat on the CL trade, no heat on the ES.

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Here is my ES chart, but there is really nothing to read/trade here!

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I am still holding my micro (MES/MYM/MNQ) indices, which are still red but improving. I removed them from my daily watch list since they enforce a bias and will not help my day trading. My CL which is also red with only a week left to expiration.

A good day even with aggravating markets. Some stress, but no mistakes. I am up $201 on my closed trades today.

K

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  #218 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
Platform: NT, TS
Broker/Data: IB, Oanda
Favorite Futures: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 653 since May 2010
Thanks: 1,733 given, 863 received

Daily Trades 10-10-2019

Finished early today with help of some major AM news. I also broke a major rule. I really don't like to break my rules, even though it was favorable. Long term breaking rules will lose me money. I had taken a news trade very early that made me the $200 for the day and as more news broke, I took a second for another $200ish.

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A good day, low stress no heat but one major mistake. I am up $404 for my closed trades today.

K

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The following 4 users say Thank You to kareem40 for this post:
 
  #219 (permalink)
Legendary Market Wizard
Dallas, TX
 
Trading Experience: Intermediate
Platform: NT, TS
Broker/Data: IB, Oanda
Favorite Futures: ES, MES, MNQ, MYM
 
kareem40's Avatar
 
Posts: 653 since May 2010
Thanks: 1,733 given, 863 received

Daily Trades 10-11-2019

One ES early news trade and done for the day. With all the positive China news, it easy to go long and hold for target plus. I went long-market at the open given all the good overnight news. It was good for 5.5 points. I am not sure how long this will last, but should not be much longer as a deal is around the corner. We may actually sell a temporary sell off after China deal announcement.

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An easy day with no stress or mistakes. I am up $271 for the day. A great week, but hard to trade technically. My micro indices are almost positive and my CL calls need help, which we may get over the weekend. The calls are at .02/.03, which is $20-30 risk for each. It may be good to risk $100+ today. I am already a proud owner of four calls

K

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  #220 (permalink)
Seattle WA/USA
 
Trading Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: NinjaTrader
Favorite Futures: CL, YM, ES
 
NW Trader's Avatar
 
Posts: 183 since Sep 2018
Thanks: 293 given, 567 received



kareem40 View Post

An easy day with no stress or mistakes. I am up $271 for the day. A great week, but hard to trade technically. My micro indices are almost positive and my CL calls need help, which we may get over the weekend. The calls are at .02/.03, which is $20-30 risk for each. It may be good to risk $100+ today. I am already a proud owner of four calls

K

Nice way to end the week! Enjoy your weekend!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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