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shodson's Trading Journal
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shodson's Trading Journal

  #471 (permalink)
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Monday, November 29th - Poor gap setups so none were taken.

First hour guides were good but the market's been range-bound all morning, so no trades there either.

I did some SIM trades on some other setups I'm experimenting with but have not yet backtested.

...later...

NT Control Center showed I had a realized gain in one of my ATM strategies, but I thought I traded everything on SIM. I checked my balance at Mirus and sure enough that 5pt ES winner was with live money! It was even a SIM accident because it was a limit order I placed on the hammer I saw an hour earlier but that never got filled. It made it's move up, which would have caused me to normally cancel the order because it hit my intended target without filling me, but I left the computer, got ready for the day and drove into work and saw later that it was filled and hit my target on a later move, but I thought it was on SIM, but it wasn't! I'll take it.

ES: +20 ticks

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Last edited by shodson; November 29th, 2010 at 09:16 PM.
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  #472 (permalink)
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The EMA tag

Seems to work best when we open with large gaps outside of the previous day's open and close, particularly above highs/below lows. Attached are the tags for CL 12-10. Success depends on stops, targets and general money management principles.

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shodson's Trading Journal-ematag1.png   shodson's Trading Journal-ematag2.png   shodson's Trading Journal-ematag3.png   shodson's Trading Journal-ematag4.png  
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  #473 (permalink)
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Wow



shodson View Post
. This month my gap trades are performing with a 77.8% win rate and a 2.17 profit factor so this month has been less stressful.

Awesome

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  #474 (permalink)
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Crappy way to end the month

Tuesday, November 30th - Well that sucked, especially with 3 instruments all hurting me at once! A late-day sell-off wiped away 70% of my monthly profits.

Yesterday's MTG video showed research that if a market gaps down on the last day of November it often fills, but also is prone to end down for the day. So it was likely to make up-moves, but end lower on the day, just like what it did today. I didn't give the study much thought in my trading plan. Just goes to show that seasonality does matter.

ES: -18 ticks
YM: -40 ticks
TF: -19 ticks


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Last edited by shodson; November 30th, 2010 at 05:57 PM.
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  #475 (permalink)
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November performance

I've added quite a bit more to my tracking spreadsheet lately as you can see.

I was feeling pretty good about the month, but today's 3 losing trades really took a major bite on my overall monthly performance. I traded 3 instruments on the same setup for the first time, but I was just following the statistics so I have to take the good with the bad. Hopefully I can make it back up in December but I can't let my loss deter my confidence to trade my plan.

At least I pulled out a profit for the month. It could have been worse.

Hoping for a happy December...

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  #476 (permalink)
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shodson View Post
Tuesday, November 30th - Well that sucked, especially with 3 instruments all hurting me at once! A late-day sell-off wiped away 70% of my monthly profits.

Ugh, this came as a shock to me. So it seems your stops are much bigger than your targets? How else do you account for one day costing you 70% of the entire monthly profits?

Mike

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  #477 (permalink)
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Big Mike View Post
Ugh, this came as a shock to me. So it seems your stops are much bigger than your targets? How else do you account for one day costing you 70% of the entire monthly profits?

Traded 3 cars, all turned out to be losers. Most of the time I trade 1 or 2 cars, but going in on 3 instruments is like swinging for the fences and I struck out. Luckily I had improved my risk/reduced to greater than 1.0 in 2 of the trades with better entries so it wasn't as bad as it could have been, but I'm still not happy with it.

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  #478 (permalink)
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shodson View Post
Traded 3 cars, all turned out to be losers. Most of the time I trade 1 or 2 cars, but going in on 3 instruments is like swinging for the fences and I struck out. Luckily I had improved my risk/reduced to greater than 1.0 in 2 of the trades with better entries so it wasn't as bad as it could have been, but I'm still not happy with it.

Well you've no doubt learned something and will improve for next time I think that is 9/10th's of the rule, right -- survival. Then one day you wake up and realize your making money, and everyone else is dead and buried.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #479 (permalink)
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Wednesday, December 1st - There were 2 decent looking first-hour setups in TF and ES. I only took one, I guess because I was afraid after yesterday's shelllacking. I took TF and it turned out to be an end-of day small loser on a large woosh down at the close. The ES trade ended up to be a winner. TF had gone as high as 25 ticks, but I was targeting 29, had a B/E+1 at 28.

TF: -10 ticks

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  #480 (permalink)
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Swimming in drawdown


Thursday, December 2nd - The gap setups don't get much better than this. And those seem to be the ones that hurt me the most.

ES: -21 ticks
YM: -50 ticks
TF: -38 ticks

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