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itrade2win's Trade Journal To Success


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itrade2win's Trade Journal To Success

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  #71 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received

Patience was key this morning. I didn't have a setup until close to 11:00 AM EST. Waited an hour and a half for first trade. I had 2 trades both for winners +8 +15 total for the day +44. Had set targets based on PA. Too bad the second trade ran for 100 ticks. No worries, I traded based off my charts and placed my targets accordingly.

NT has been taking hours to send my emails of charts and performance pages. Not sure why that is, but as soon as I get the emails I will post them.

Ryan

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  #72 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received

My first two trades I took full stops on -20 -20 on both that set me back -83 ticks with commish. First trade I went ss because it was the second bar that closed below the ema and it appeared to me that we had a 3 drive pattern. The second trade was just plain bad, had no logical reason to make that trade except I got impatient and didn't want to get left behind if the move down continued. Something I'm working on and is noted several time in my journal.

The third trade I was a little more patient, maybe a little too much lol. Hit my first target for +10 and had my second target just above the S1 level. Should have realized the gap was just closed and would retrace. +10, -12

Fourth trade pulled the trigger a little early, not in my rules to enter on this bar, but maintained patience and stayed in it to hit both targets +10 +20.

Last trade had several bars close with HH HL and 3 bars that closed above the EMA was looking for a long run up for 30 to 40 ticks,but the last two bars were on lower volume and moved target to 20 ticks ended up +10 +20.

Not bad for being down -82 ticks and ended the day -26. I was really interested in taking the long at the close of the 14:10 bar, but we got there on lower volume and my thinking was we didn't have much room above from looking at the left of my chart and would top out around the 12:55 bar or where the pivot was. My thinking was I came back from a huge loss and we were close to the end of the day and it was a choppy session so don't risk it. But look what happened the market ran up 60 ticks. Would have made a great winning day, but who knew. No sweat, I'm happy with cutting my loses for the day.

Ryan

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  #73 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received


I had looked over my journal this past week and I was in total shock. I thought why the "f***" did I ever make these trades. I feel like I didn't know shit until this past week. Definitely a huge Ah Ha moment. But, hey the most important part is that I learned from these ridiculous errors.

I also decided this morning that I am done with the ES. It is a Dog and I'm not bashing dogs because I am a dog lover. Hell, my family says I love my boyz better than I do them lol! But after looking at both I just can't trade the ES anymore.

Today I had two trades and both winners for a total of +63 ticks including commish and done by noon.

R

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  #74 (permalink)
 Big Mike 
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itrade2win View Post
I had looked over my journal this past week and I was in total shock.

Very good, its critically important to review your journal like this. It should be an eye opening experience and help you not fall into the trap of repeating your mistakes over and over again. I suggest that at the end of each week, you read all the journal entries for the past two weeks. This way you can easily compare week over week for improvement or similarities in your trading and formulate a plan for the upcoming week.

Mike

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  #75 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received


Big Mike View Post
Very good, its critically important to review your journal like this. It should be an eye opening experience and help you not fall into the trap of repeating your mistakes over and over again. I suggest that at the end of each week, you read all the journal entries for the past two weeks. This way you can easily compare week over week for improvement or similarities in your trading and formulate a plan for the upcoming week.

Mike


I totally agree and I took it another step farther. I started recording myself on my camcorder to speak out my thoughts and feelings before, during and after the trade which for me has been completely beneficial.

R

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  #76 (permalink)
 Big Mike 
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itrade2win View Post
I totally agree and I took it another step farther. I started recording myself on my camcorder to speak out my thoughts and feelings before, during and after the trade which for me has been completely beneficial.

R

Very good. I posted about this a while back, using Camtasia I can record both my screen (workspace) and myself (webcam) during my trading session. It is a huge, huge benefit. But that is just the raw information, you have to work on how to interpret this information. When watching the replay it will become obvious where you are making mistakes, the trick of course is to find a way to catch these before they occur again in the future, and then measure yourself on them somehow so you can know for sure you are making progress and not caught in a loop.

Great job!

Mike

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  #77 (permalink)
 itrade2win 
New York
 
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Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
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I am very happy with today's outcome despite not hitting my daily goal and the market being a bit choppy.
I had 6 trades for +14 after being down -29. I followed my rules and prevailed IMO. I could have had bigger profits, but my second targets were out of reach.

First trade was a pre-market trade that I kinda made a little early, but recognized the error and got out +2

Second trade was a good entry and hit first target easily, had my second target at 30 ticks which ended up 6 ticks short,over confidence is a killa. So I ended up +10 +2

Third trade was a good execution and market went 9 ticks in my favor then came back against me on higher volume jumped out with little damage -6 -6

Fourth trade the white line I drew represent the sideways channel that the market stayed in for almost 2 hours. If price moved above the channel I was going long, if it went below the channel I was going short. well the price went above the channel on higher volume so I went long . Not a bad trade as far as I'm concerned just didn't work out that's all. -15 -15

Fifth trade we had two consecutive bars with LH LL and two bars that closed below the EMA was looking for market to go back to the 82 area, but no can do. +8 +19

Sixth trade a DT with two LH LL bars +8 +10

I had more profits than what I ended up with, but I felt that I managed my trades well and happy with my progress.

Ryan

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 PandaWarrior 
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itrade2win View Post
I am very happy with today's outcome despite not hitting my daily goal and the market being a bit choppy.
I had 6 trades for +14 after being down -29.

Ryan

My P&L looked very similar today. I think anyone that got out of today with some profit did a good job of not falling for all the head fakes and lack of follow through.....

Good job today!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #79 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received


aztrader9 View Post
My P&L looked very similar today. I think anyone that got out of today with some profit did a good job of not falling for all the head fakes and lack of follow through.....

Good job today!

Thank you, I read your thread earlier and saw the similar outcome. Good job as well!

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  #80 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received


Another good day. I missed the run down after the 10 AM news. I didn't want to touch it unless I saw what I liked. The 10:15 bar had good volume and sometimes there is a continuation and at times the volume spike means a reversal at least in the ES market, not sure if its the same in the oil market. So I just stayed put and waited for what I was comfortable taking.

My first trade wasn't until 10:45. Long bull bar followed by a doji on lower volume and it was a lower risk setup for me. It moved 18 ticks than came back and wasn't willing to lose what I had already taken. +8 +1

Second trade I was looking for a long after a long bullish bar above the line. watched the volume peak above previous bar and made a HH. +8 -2

Third trade DB on same volume, kept a tight stop for +8 -4

Fourth trade was what I was waiting for all day. Another horizontal channel and I paid close attention to the Dom and PM on the chart and the price was just trying to pop higher. Before I could tighten my stop first target hit and the same bar hit second target. Of course I moved my second target closer from 30, but who cares. +8 +20

I ended the day just 6 ticks shy of my daily goal, so I'm very happy.

R

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