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JMAL's What was I Thinking Trading Journal


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JMAL's What was I Thinking Trading Journal

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  #31 (permalink)
london ontario
 
 
Posts: 25 since Jul 2015
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JMAL View Post
6/19/20

Trying something different, will start making notes on a chart. With fewer comments outside the chart.
Let me know if this is better or how I could make it more legible.

trades 3.

I like the new format. I think I might try that myself in my journal too.

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  #32 (permalink)
Houston Texas
 
Experience: Beginner
Platform: NinjaTrader 7
Broker: NinjaTrader Brokerage
Trading: ES, MES
 
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6/23/20

Pre market Open

Looked for a trade for a little over a hour before the market started going sideways around 7:00am. Had to call it a morning at 8:00am. No trades this morning.



Again watched the market for a hour or so tonight and didn't see any trades to take I felt good about. No trades made this evening.


Don't let Fear, Greed and Gambling overRule
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  #33 (permalink)
Houston Texas
 
Experience: Beginner
Platform: NinjaTrader 7
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Posts: 47 since Jul 2014
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6/24/20

Pre market 7:30 am

What was I thinking! The preceding bar before the entry was a terrible signal bar. I was suckered in with a very bullish bar that went 10 ticks higher than my entry, just short of my 12 tick target. Still really bad entry, so close to the upper trend line.


In the end I was right about the market continuing higher but bad entry plus bad safety stop location equal a loss!


15 tick loss

Don't let Fear, Greed and Gambling overRule
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  #34 (permalink)
Houston Texas
 
Experience: Beginner
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Broker: NinjaTrader Brokerage
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Posts: 47 since Jul 2014
Thanks: 16 given, 27 received

6/24/20

After market close.

Hoping to make back the 15 tick loss this morning. Got within 8 ticks. Not enough time this morning to mention each trade and what was I thinking on each trade. I'll be brief with each trade.



First trade, 12 tick gain. Was thinking that was the top of the range so went short. Just squeezed by before market turned.

Second trade, 20 tick loss. Was thinking this was the support line area of the range, but got another leg down.

Third trade, 12 tick gain. Thinking it would test the range support line.

Fourth trade, 1 tick loss. Got nervous with this one and took a 1 tick loss just to watch it go even lower before turning up. Bad move!

Fifth trade, 3 tick gain. Was two ticks from hitting my target and started reversing. Gave it all I could then bailed.

Overall for the Day, 6 trades 50% profitable, minus 8 ticks

Don't let Fear, Greed and Gambling overRule
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  #35 (permalink)
Houston Texas
 
Experience: Beginner
Platform: NinjaTrader 7
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Posts: 47 since Jul 2014
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6/26/20

Pre-Open 4:30 am

Woke up early this morning. Wanted to finds some trades to make after not making any on Thursday. Probably spent 4 hours total on Thursday morning and evening and could find a trade I felt good about. In hind sight there were plenty, oh well.

Made two trades both successful but still questioning myself as to why I entered them where I did.

Note to followers, I place my trades based off the ES because it is what I am use to watching and the two markets in my opinion are the same.

Both of these trades I made were entered very late on the candle stick, don't remember now why I entered there. Was it because it was very early in the morning and I wasn't thinking right or was there something there I felt confident about. Either way it turned out OK.



Overall 2 trades entered, 13 tick gain.

Don't let Fear, Greed and Gambling overRule
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  #36 (permalink)
Houston Texas
 
Experience: Beginner
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Posts: 47 since Jul 2014
Thanks: 16 given, 27 received

6/27/20

Recap on trades through 6/22 - 6/26

Have decided to back down to 2 point target in my scalping due to the prior weeks performance, a couple times there would have been winners had I only gone for two points.
In the future I will use runners in my automatic trading for added gain but for now I'll work on the basics.

6/22 pre market open, first trade of the week. Felt good about this trade for a few reasons. The market showed weakening in the prior channel, after it broke through it couldn't make it back to old support line. When it turned down on the newer resistance line I felt it would easily move 4 or 5 points. Went short and had a 8 tick gain (2 points).

6/22 after market close, Good trade. There was a break of the upper trend line and two legs up, then a couple of bearish candle sticks indicating reversal. Went short looking for the market to test at the support line. 8 tick gain (2 points)

6/23 pre market open, very bad entry! Clearly I was bucking a resistance line not far from where I entered. Also 4 mostly bearish candlesticks prior to my entry. Looks like it was 2 ticks from moving through my target but turned and I closed it after it moved about 15 ticks. This was around 7:30 am, IMHO a difficult time to trade. I think this is when the Pro's are starting to load up for the days market. 15 tick loss (3 points).


6/23 after market close, thinking 3 point gain to repair this mornings damage. Made 5 trades this evening. 3 winners, 2 losses. Got a little quick on the first one. Should have waited to enter at the resistance line but it worked out 12 tick gain (3 points). Reason for breaking my new rule, 2 point targets not knowing if there was going to be any other trades I was hoping to score my 3 point loss for the morning. Another reason was the prior candle sticks were ranging in a 3 point size so I felt it safe. So hard sticking to rules in this business!. Next trade I gave it all back and then some, looking like a range entered long at the support line. Instantly turned and dropped 10 points before turning back. Went on to make 3 more trades 2 winners 1 loss. Overall for both sessions 8 tick loss (2 points).

6/24 pre market open, made 2 trades both long. Strong trend up, one leg completed looking to gain off second leg. Entered high on the first candlestick, reason why in overnight hours I found the best entry is made only after the market makes several moves up and down, then makes a final burst to get your target (note: sometimes this happens early in the formation of the candlestick). Second trade entry, looking for a measured move, entered right off the top of the last trade and my target was hit within minutes. 13 tick gain (2 points).

Performance Report 6/22 - 6/26



Suprised to finish with 70% profitable, felt like I was playing catch up all week.

Don't let Fear, Greed and Gambling overRule
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  #37 (permalink)
Houston Texas
 
Experience: Beginner
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Posts: 47 since Jul 2014
Thanks: 16 given, 27 received

6/29/30

Three trades today, first one pre open. 8 tick gain

Good trade second entry, would have been nice with a runner.



Second trade and third trades went against me. Many reason I see know for losing these. Double top indicator of a down turn. The two green arrows were equal size and about the height of the double top, should have waited to see if market was going to continue in that direction. The third trade I guess I had to much screen time and just wasn't understanding what the market was saying. Should have bailed on the first lose.



16 tick lose for the day.

Don't let Fear, Greed and Gambling overRule
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  #38 (permalink)
Houston Texas
 
Experience: Beginner
Platform: NinjaTrader 7
Broker: NinjaTrader Brokerage
Trading: ES, MES
 
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Posts: 47 since Jul 2014
Thanks: 16 given, 27 received

6/30/20

No trades today. Was able to trade yesterday evening after the close and mostly because the prior days mistakes I wanted to see a better setup before entering.

My thoughts were the market was not able to touch the upper resistance trend toward the end of normal trading hours , so possibly a bigger reversal and a break of the support line was possible.

The market dropped 20 points then went into a range near the support line. Typically after going into a range it will continue in the same direction prior to going into that range but in this case it was at the support line so anything I thought was possible.

I could have entered at the top or bottom of the range but I didn't like the way each candle stick was forming. Close to 20 minutes a sticks and because of all the trend lines it was up against I didn't enter.

The green boxed area was the time I spent watching.


Don't let Fear, Greed and Gambling overRule
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  #39 (permalink)
Houston Texas
 
Experience: Beginner
Platform: NinjaTrader 7
Broker: NinjaTrader Brokerage
Trading: ES, MES
 
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Posts: 47 since Jul 2014
Thanks: 16 given, 27 received

7/1/20

One trade today pre market open. Pretty straight forward, looked like strong upper trend with a couple pullbacks.



Note: I always base my trade off the ES market.

Don't let Fear, Greed and Gambling overRule
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July 2, 2020


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