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NW Trader's Journal

  #161 (permalink)
Wizard3ootz
Bend + OR/USA
 
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Nice scalp! We’ve missed you in chat man. Hope all is well. I went through some of your old posts today and your trades look great! Definitely seems like you’re hitting your stride.

Anywho, been crazy busy myself - doing my business law reading right now, hah. But come around one of these days!
-Wiz

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  #162 (permalink)
 
NW Trader's Avatar
 NW Trader 
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
Posts: 305 since Sep 2018
Thanks Given: 495
Thanks Received: 1,084

Just an hour to watch markets before heading out to work this morning. Managed to take a small scalp on MNQ prior to the open for a total of 23 ticks.


After the open I found one other scalp, hit the first target, got stopped out on the other contract, total +10 ticks.


Looks like that's all I'll get done today, but 33 ticks is a nice short session for me. Good luck everybody!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #163 (permalink)
 
NW Trader's Avatar
 NW Trader 
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
Posts: 305 since Sep 2018
Thanks Given: 495
Thanks Received: 1,084


Traded the Asia session for a while tonight. Got off to a decent start with a long entry, If I had not moved my stop on the second contract I would have had a nice trade. As it was I got 10 ticks on the first contract and because of slippage lost 1 tick on the second stop. Moving my stop to scratch once I scalp the first contract is a practice I may have to revisit at some point because it is easy to be stopped out on the second one. We'll see, got 9 ticks anyway.


I kept getting called away from the computer and because of that I missed most of the with-trend opportunities and was left with the option of trying to scalp the counter-trend or pullback moves. Had to scratch two trades and because of slippage lost 6 ticks, then decided to close my last entry because it was stalling. Once I closed it for an 8 tick loss, price of course moved in my direction and would have made a small profit.


All in all, ended up down 5 ticks for the session. Not terrible and I followed my rules on all trades, it's just that for me the counter-trades are a lower probability and so the results are not surprising.

Here's hoping we all have a nice finish tomorrow before the holiday weekend!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #164 (permalink)
 
NW Trader's Avatar
 NW Trader 
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
Posts: 305 since Sep 2018
Thanks Given: 495
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A lackluster Friday to be sure, but then it is a holiday weekend so it is to be expected.

Traded MNQ this morning. Took a pullback and made my first taarget at +10 ticks. Then I left a wide stop on my second contract. Now, my ATM strategy is to move the stop on the second contract to BE right after TP1. Since I have been stopped out early before (see earlier posts), I decided to widen the stop to the previous swing low. As it turned out, I should have just let my ATM run, my wide stop got hit and turned my small profit into a small loss of 10 ticks. Well, I needed to experiment, so I did, so I learned.

Then I took a trade on what I thought would be a nice pullback in an early trend. It was right after a sell off that occurred at the close of London trading. On a non-holiday weekend I think US traders would have been there to push it up but not today. Price just slid back and hit my stop for a 40 tick loss.


And I think I'm probably done for the day. Not the way I wanted to end the week, but I'm okay with the results. I stuck to my rules, except for moving that stop today, and I can live with the results.

Have a great, long weekend everybody!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #165 (permalink)
 
NW Trader's Avatar
 NW Trader 
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
Posts: 305 since Sep 2018
Thanks Given: 495
Thanks Received: 1,084

Watched MNQ in the Asia session for awhile this evening. Expected it to be somewhat slow given the US holiday tomorrow. I did manage to find two trades.
First trade I hit TP1 for 10 ticks and then price reversed prior to hitting TP2. Second contract was stopped at +11 ticks, so 21 ticks for that trade.
Next trade hit TP1 for 10 ticks, then hit TP2 for 30 ticks, a total of 40 for the trade.


After that price fell into a small range and after watching a while I decided to bag it.

As someone in the trade room tonight mentioned, micros are a lot of work for a little bit of money. However, they do serve my purpose at the moment which is returning to consistency before I return to the minis. So far so good. I'm happy with the 61 ticks for the evening.

Hope everyone has a nice, short trading day tomorrow!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #166 (permalink)
 
NW Trader's Avatar
 NW Trader 
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
Posts: 305 since Sep 2018
Thanks Given: 495
Thanks Received: 1,084

Sat in on MNQ for the holiday market this morning. I only found one trade. It started out as a simple pullback but then turned into a trend reversal. I hit TP1 for +10 ticks and then price started backing up and hit the stop on my second contract for +4 ticks, a total of 14 ticks on the trade.


After that, there were a couple of scalps that came available, but I didn't take them because my confidence with scalps is not great as yet. For me, they are typically countertrend, therefore lower probability and you need to get in and out fast. I'm still working on that.

An extremely slow day (300 tick candles were taking 10-15 minutes to form!), but there is always something to learn. I'll probably try the Asia session this evening if time allows. Tomorrow I have obligations that will only permit an hour to trade so a good chance of a no-trade day tomorrow.

Happy trading y'all!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #167 (permalink)
 
NW Trader's Avatar
 NW Trader 
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
Posts: 305 since Sep 2018
Thanks Given: 495
Thanks Received: 1,084

Watched MNQ in Asia session tonight and broke my rules for the first time in several days. So, I will be making a $50 donation to a politician that I immensely dislike. We'll see if I break my rules again!

Anyway, price had made a higher low and I thought I had a pullback in the new trend. Wrong. Took a 33 tick loss on the trade.



So, I went from a $7 profit this morning to a net $9.50 loss this evening. Not good, but not unexpected when one does not follow the rules. I did also try a scalp a little later, but it didn't move fast enough so when I had the chance to scratch at BE I did so.

Trading the holiday market was, as expected, slow. But there is always something to learn.

Happy trading!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #168 (permalink)
 
Rrrracer's Avatar
 Rrrracer 
On the road
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NW Trader View Post
Watched MNQ in Asia session tonight and broke my rules for the first time in several days. So, I will be making a $50 donation to a politician that I immensely dislike. We'll see if I break my rules again!

LOL now that's one surefire way to enforce your rules! Love it.

I'd have a difficult time picking just one

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  #169 (permalink)
 
NW Trader's Avatar
 NW Trader 
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
Posts: 305 since Sep 2018
Thanks Given: 495
Thanks Received: 1,084

Had about an hour this morning before having to leave for work. Managed 4 trades in MNQ.

First trade was a pullback, I was a little early but still hit TP1 for +10, then price backed up and hit S2 for -1 due to some slippage, so +9 ticks for the trade.

Second trade was into the same pullback. This time I got TP1 for +10 and S2 for +9, total of 19 ticks.

Third trade I took because the chatter in the trade room was to go long, so I jumped in without checking my own indicators which would have told me to stay out. Lost 54 ticks because I also used a wider stop than usual. My bad.

Fourth trade was back to my rules, it was a pullback and hit TP1 for +10, then TP2 for +40, total of +50 ticks.


So, for the morning I ended up with 24 ticks or $12. Would have been much better without that third trade, but it is so easy to be swept up into the excitement of a trade room. And, those guys were not wrong for THEIR strategy, it was just the wrong entry point for mine. It's all good and all part of learning, and I still ended up on the green side, so no worries.

Happy trading!

Mike
NW Trader

There is no path to happiness. Happiness is the path.
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  #170 (permalink)
Wizard3ootz
Bend + OR/USA
 
Posts: 55 since Aug 2019
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NW Trader View Post
Third trade I took because the chatter in the trade room was to go long, so I jumped in without checking my own indicators which would have told me to stay out. Lost 54 ticks because I also used a wider stop than usual. My bad.

@NW Trader Man, I have totally done that one. I have to remind myself NOT to let anyone else's decisions color my thinking in chat - its hard to do!! Particularly if they're trading on sim, because they're bound to be more reckless with their trades if they know there's no real $ on the line, hah.

Your fourth trade was a beauty though! Thanks for sharing!

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