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ES Newbie Journal
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Created: by benharrell Attachments:5

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ES Newbie Journal

  #11 (permalink)
Elite Member
Pittsburgh, Pa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: CL,ES,6E
 
benharrell's Avatar
 
Posts: 235 since Aug 2009
Thanks: 350 given, 96 received

Hi Everyone,

I'll take a quick minute to post my chart from my sim trades today. As you will see, my trading time was limited again. The wife had me on the hook to paint the deck.

So, overall today wasn't too bad. I feel like a dope for leaving so much on the table, but I'm happy with my overall effort. Today's overall results were +1.25. BTW, thanks to jonesr9 for teaching me how to use the Market Replay. I spent some time this afternoon trading the morning session again in replay to practice entry and exit positions. Super easy when you know the direction of the market.

Here are my executions:
1. Short @ 1008.50, "Stop Filled" @ 1009.75 (too eager in the AM.) -1.25
2. Short @ 1008.00, "Target Filled" @ 1006.50 (should have taken more profit) +1.5
3. Short @ 999.25, "Break Even" @ 999.25 (pulled out, wanted better entry) +/-0.0
4. Short @ 998.00, "Target Fille" @ 997.00 ( I was happy with this final move) +1.0

Not sure if I have noted this before, but I have been trading (2) lots each roundtrip.

My next "results" post will be for Monday afternoon, as I won't be able to trade until about 1:30ish.

Best,
-Ben H.

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  #12 (permalink)
Elite Member
Bellingham, WA
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: 6E, CL
 
Dragon's Avatar
 
Posts: 494 since Aug 2009
Thanks: 747 given, 253 received

Hi Ben,
So question, I am a huge LBR fan as well. I missed the retrace on the ADX when you stopped out in the morning. It looked like that wasn't a 1,2 retrace at that point so I diregarded the ADX above thirty as not retracing because 2 waves already occurred. How do we recognize that retrace there when three appeared already?

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  #13 (permalink)
Elite Member
Pittsburgh, Pa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: CL,ES,6E
 
benharrell's Avatar
 
Posts: 235 since Aug 2009
Thanks: 350 given, 96 received


Hi Dragon,

In an effort to keep this journal more of a journal, I will start a new thread elsewhere to discuss set-ups and entry points. However, for the time being, I'll try to answer your question based on my limited experience. First, "the trend is your friend." Right? Also, just because 3 retraces have taken place, doesn't mean the bears are out of gas. From what I have read, there are usually three legs in a major trend, on "average." I might be wrong here, but I think I read it somewhere... So, if you see another breakout, and you feel confident, I would say get in. If the trades slows down, flirts in the opposite direction, get out and look for new entry. That's what I would do.

Okay, back to the journal.

I'm going to open a daily set-up discussion thread...to be continued?

Best,
Ben

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  #14 (permalink)
Elite Member
Pittsburgh, Pa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: CL,ES,6E
 
benharrell's Avatar
 
Posts: 235 since Aug 2009
Thanks: 350 given, 96 received

Hi Everyone,

I was not able to trade the ES in the morning due to class studies, however I did stay "out" of the market from about 1:30-3:45, which I consider to be a good position considering the shape of the market. My strategy focuses mostly on trending markets, so today was a day to stay "out."

However, I may want to consider a "consolidation" or "chop" strategy moving forward. We all know, that you will never make money unless you trade. So, I need to define a strategy for days like today. Tomorrow I have the whole day off to trade, so I should be able to post tomorrow's results.

Best,
-Ben

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  #15 (permalink)
Elite Member
Pittsburgh, Pa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: CL,ES,6E
 
benharrell's Avatar
 
Posts: 235 since Aug 2009
Thanks: 350 given, 96 received

Hi Everyone,

This morning, I traded my sim account until lunch. I was feeling a bit loopy after the morning session and decided to spend the afternoon studying different books that I have been reading. "The Four Biggest Mistakes in Futures Trading," -Jake Kaeppel, and "Trading Rules," by William F. Eng.

After a few hours of reading, I spent the balance of the afternoon running Market Replays from January '09. Good times. I'll continue to spend a few more hours tonight trading the Market Replays, so I am ready for tomorrow.

Today's Trades: -2.0

First Trade: Broke Even early in the AM @ 979.50 . A bit too anxious.
Second Trade: Entry @ 985.25, Stop Filled @ 983.50. Tried to trade the Breakout.
Third Trade: -.25 (I think)
Fourth Trade: Break Even. (Got goofy up here, not even sure I executed my trades right, I think this may have been where I hit the reverse button by accident, who knows.

After my final trade, I got frustrated and hit the books. Returing later in the afternoon for a look, I noticed that a good breakout occured after I left prior to lunch. Need to keep my discipline. Tomorrow's another day, and I will spend more time logging screen hours tonight.

Thanks to everyone throughout the forum who continues to help, it is awesome!

-Ben

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  #16 (permalink)
Elite Member
Pittsburgh, Pa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: CL,ES,6E
 
benharrell's Avatar
 
Posts: 235 since Aug 2009
Thanks: 350 given, 96 received

Hi Everyone,

Today was a good day of trading, even though I only was able to trade the afternoon session. Attached please see today's performance. +1.5

I spent today looking at a new chart format, focusing on some great indicators customized by Jeff Castille https://futures.io/general-discussion/560-all-you-need.html. I like the new format, and I spent the afternoon looking at 1600 and 3200 tick interval.

1st Trade: Entry @ 993.25, Exit @ 991.75 +1.5

I waited for the break out below the lower swing, and also my R1. Once I had a confirming bar down, I entered the trade.

Best,
-Ben

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ES Newbie Journal-es-09-09-8_19_2009-1600-tick-.jpg  
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  #17 (permalink)
Elite Member
Pittsburgh, Pa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: CL,ES,6E
 
benharrell's Avatar
 
Posts: 235 since Aug 2009
Thanks: 350 given, 96 received

Also, important to note--the image above includes Jeff Castille's https://futures.io/general-discussion/560-all-you-need.html , but it also includes additional indicators. Just trying to find the right fit.

-Ben

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  #18 (permalink)
Elite Member
Pittsburgh, Pa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Zen-Fire
Favorite Futures: CL,ES,6E
 
benharrell's Avatar
 
Posts: 235 since Aug 2009
Thanks: 350 given, 96 received

Hi Everyone,

Attached are today's trades. I focused today on the 5,000 Volume with a 1600 tick as an anchor. It was interesting, but I have a hunch that I should stick to like-intervals.

Today's Performance: + 1.25

First Trade: Entry @ 999.25, Target Filled @ 1000.00. +.75 (Attempting .75 as strategy target)
Second Trade: Entry @ 1004.40, Exit @ 1004.00 (At the last kick upward, I decided to try a fade. Worked out well, maybe I could have held on longer.) There was also divergence on the MACD 3,10,16.

All-in all, I was happy with today's trades.

Best,
-Ben

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