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itrade2win's Trade Journal To Success
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itrade2win's Trade Journal To Success

  #51 (permalink)
Elite Member
Pennslyvania
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: ES
 
Posts: 42 since Sep 2010
Thanks: 4 given, 38 received

Hi Ryan:

One suggestion would be set a target like 1 point per day until your very confident to add contracts. When you get your one point for the day go on simulated. The object is to discover the best times to trade and not.

Dominick

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  #52 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

Hey Dominick,

Thanks for the advise. I agree and that is pretty much my goal except I tend to push things to the limit and my current daily objective has been 2 points per contract trading 2 cars. Prolly greed and/or high expectations is the reason for my 2 pt goal. Psychologically the 1 point per day makes sense and just add cars on from there. I'm realizing the more I trade the lower the odds are in my favor to have a profitable day. I will re-evaluate my goals this weekend and make any amendments that I think will work best. In fact, I just decided that if the first trade for the day is a winner and hit both targets for a +3 ticks and +6 ticks then I will stop for the day. If I take three losing trades in a row, I'm finished for the day.

Have a good weekend!

Cheers
Ryan

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  #53 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

Why Continue Trading?


Well, Dominick is right. Why continue trading live when your first trade is a winner? It happens every time, I can start the day with a winning trade only to lose it all and have to spend the rest of the day just to recover. It's not worth it. From this day forward I am looking for a one and done day. If that happens then I become a spectator and just watch the market. I have learned by doing just that. Hopefully, I can benefit even more from it. I am going to start a thread to find out how many people continue trading when they have a winning trade out the gate.

Well, I recovered most of my losses. Worked all day just to come close to break even, it's not worth it.

Have a good weekend!

Cheers
Ryan

Attached Thumbnails
itrade2win's Trade Journal To Success-1-min-part-trend-oct-7th.jpg   itrade2win's Trade Journal To Success-1-min-part-b.jpg   itrade2win's Trade Journal To Success-5-min.jpg   itrade2win's Trade Journal To Success-10-min-showing-channel.jpg   itrade2win's Trade Journal To Success-30-min.jpg   itrade2win's Trade Journal To Success-60-min-dt.jpg   itrade2win's Trade Journal To Success-ninjatrader-performance-report-2-.jpg   itrade2win's Trade Journal To Success-ninjatrader-trade-list-10_8_2010-10_8_2010.jpg  
Attached Files
Register to download File Type: xlsx My ES Trade Journal.xlsx (21.1 KB, 6 views)
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  #54 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

Weekly Results

Well, at least I ended the week in the black. It was a lot of work for only $272.00

Attached Thumbnails
itrade2win's Trade Journal To Success-weekly-performance.jpg  
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  #55 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

Great Trading Day

It was a great day to start the week. My first trade was a pre-market trade error. I had thought that my Dom and charts were all linked. Because I was switching back and forth between the ES and CL. The ES was very slow and choppy this morning so I wanted to see what the CL looked like and it was trending down. I don't exactly remember how it happened, but I did something wrong and was looking at the wrong chart and lost 21 ticks. For some reason it didn't even phase me. I didn't even think anything about the losing trade just looked for the next opportunity and won the next 3 trades. I do remember looking at the PnL after each trade and know that I need to change this habit. I believe that my confidence grew and my fear was not apparent because I found a new revelation of capturing the trend entries. It was like a new me. I didn't see or feel the same today about trading.

Cheers
Ryan

Attached Thumbnails
itrade2win's Trade Journal To Success-es.jpg   itrade2win's Trade Journal To Success-cl.jpg   itrade2win's Trade Journal To Success-ninjatrader-trade-list-10_11_2010-10_11_2010.jpg   itrade2win's Trade Journal To Success-ninjatrader-performance-report.jpg  
Attached Files
Register to download File Type: xlsx My ES Trade Journal.xlsx (21.7 KB, 6 views)
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  #56 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

The morning session

I'm still feeling like I was yesterday as far as emotions are concerned. I have been working hard on the psychology side of my trading.

The market opened lower this morning and at a support level with a 4 point gap above, but the market continued the downtrend and I wasn't going to get in it's way. The next support level was 1151 and the O/N low was 1151.75. We hit 1151.75 with a big rejection tail and a big volume spike. I entered a long and it was 2 points above the low. I just didn't like the trade so I bailed out at B/E no harm, no foul. As it turns out it would have been a nice winner. NO WORRIES!!! NEXT TRADE. Entered in a PB and only took 4 ticks of heat and stayed in the trade for 20 minutes or so. The only thing that I did that I did not like on this trade was move my 3rd target from 3 points to 2 points and it would of hit my 3rd target easily, but my concerned was the DT at the open. Since then the market has been coiling so I'm waiting for the next opportunity.

Cheers
Ryan

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itrade2win's Trade Journal To Success-ninjatrader-chart.jpg  
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  #57 (permalink)
Elite Member
Toronto, Ontario
 
Futures Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker/Data: IB, IQfeed
Favorite Futures: ES, CL
 
Snoop's Avatar
 
Posts: 203 since Oct 2009
Thanks: 135 given, 161 received

Nice entry on the first trade. But what was it that you didn't like?
NYSE Tick registered a relatively extreme reading with the ES low - which is always a possibility for that to be the day's low.
You have the right attitude though. Never let it be a sore point - "losing" trades that are b/e are the least of your worries


itrade2win View Post
I'm still feeling like I was yesterday as far as emotions are concerned. I have been working hard on the psychology side of my trading.

The market opened lower this morning and at a support level with a 4 point gap above, but the market continued the downtrend and I wasn't going to get in it's way. The next support level was 1151 and the O/N low was 1151.75. We hit 1151.75 with a big rejection tail and a big volume spike. I entered a long and it was 2 points above the low. I just didn't like the trade so I bailed out at B/E no harm, no foul. As it turns out it would have been a nice winner. NO WORRIES!!! NEXT TRADE. Entered in a PB and only took 4 ticks of heat and stayed in the trade for 20 minutes or so. The only thing that I did that I did not like on this trade was move my 3rd target from 3 points to 2 points and it would of hit my 3rd target easily, but my concerned was the DT at the open. Since then the market has been coiling so I'm waiting for the next opportunity.

Cheers
Ryan


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  #58 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received


Snoop View Post
Nice entry on the first trade. But what was it that you didn't like?
NYSE Tick registered a relatively extreme reading with the ES low - which is always a possibility for that to be the day's low.
You have the right attitude though. Never let it be a sore point - "losing" trades that are b/e are the least of your worries

Hey Snoop,

Thank you for your reply and feedback. I didn't like my entry being 2 points off the LOD and what I saw on the Dom and T&S which I know can play mind games. I guess the bottom line was I wasn't comfortable with the entry.

Cheers
Ryan

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  #59 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

Second Session

I finished the day just like the morning session with a B/E and a nice winner. The first short entry was pre-mature and bailed out and waited to make my re-entry which it hit all three target objectives. I did move my third target to 2 points because I felt that price would not retrace 3 points, however it did. So what! I finished the day hitting my daily goal of 2 points per contract, actually went closer to 2.58 per car. I am looking at the market much different than I have in the past and recognized trend entry opportunities where I had not before. There was also a long opportunity on the 14:30 candle and of course a short trade at the HOD around 15:35. Overall I'm happy with my day and discipline.

Cheers
Ryan

Attached Thumbnails
itrade2win's Trade Journal To Success-afternoon-session.jpg   itrade2win's Trade Journal To Success-ninjatrader-trade-list-10_12_2010-10_12_2010.jpg   itrade2win's Trade Journal To Success-ninjatrader-performance-report.jpg  
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  #60 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

CL Trade


I did much better on the CL market than the ES. Only one trade for +10, +15 and +25. See chart below.

Cheers
Ryan

Attached Thumbnails
itrade2win's Trade Journal To Success-cl-chart.jpg   itrade2win's Trade Journal To Success-ninjatrader-performance-report-cl.jpg   itrade2win's Trade Journal To Success-ninjatrader-trade-list-10_13_2010-10_13_2010.jpg  
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