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Andy's Trading Journal - Red and Green Bars


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Andy's Trading Journal - Red and Green Bars

  #31 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68

Back at it today. Took two lives trades on MYM. Lost $1 after commission. These trades were a bit more questionable but same criteria as always. Volume Spikes on ES and no clear S/R in the way on MYM. We weren't really in a full blown trend so maybe I should've thought a bit more before going long on these. Took a break from market replay practice last night to watch election stuff but will start practicing again today. It's nice to take a day off here and there. Resets the brain.

Watched an interesting video a few days ago on how the economy works by Ray Dalio. Nothing too crazy but very clear explanation on how fluctuations in credit levels cause expansions/recessions. I don't think this will be new info to any of you but I think it's one of the best overviews of economics I've ever seen. It keeps your attention. The first 5-10 minutes is pretty basic, but it get's into the short-term debt cycle after that which is interesting. More for long term investments.

That's it for today. Peace!



11.4 MYM Trades 1 & 2

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  #32 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68

Didn't have time to post this last night but took two live trades yesterday. After my first live trade, I said to myself that I'm done. I normally switch to Sim and still watch the charts throughout the day when possible. Anywho, logged into worked computer and started working. Looked at the chart and saw a trade which wasn't necessarily a good one, but wanted to test so I took the trade. It didn't fit my normal criteria. Anyway, I realized I was still in live account and lost. Careless mistake. Not posting that one because it's not anything I would normally trade. I'm over it though. Only lost $5. Not really upset that I lost money, just upset how I lost it. Oh well, on to next week!

11.6 MYM Trade 1

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  #33 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68


Took one trade today (on Sim). A little too fast for me this morning. I actually changed up my renko bar settings to 3-8-3 on MYM just so I could slow my chart down a bit. On a normal day I have them at 2-5-2.

I won my trade, but I think there was a little too much luck involved in this one. There are times when MYM breaks away from ES. The trade I took today was one of those.
ES reversed back up after the volume spike but MYM continued down for a bit longer. I was banking on the higher than normal MYM volume spike to carry me but that's not the safest strategy.

I think I'm getting a little better in my market replay sessions, but still have a long way to go.


I've been reading a lot of Howard Marks memos recently which I find valuable. I like that you can go all the way back to his thoughts before dot com bubble or financial crisis and he's pretty spot on. The man has stood the test of time and is fairly good at adjusting his portfolio to risk. I know most of you probably don't care about this as it doesn't pertain to futures, but since most of my capital at risk is not really in the futures market currently, I spend a good amount of time reading/continuously learning about long-term investments as well. The link is below if anyone is interested. His latest memo is a month old but pretty interesting explanation on investing in our current low interest rate environment.

https://www.oaktreecapital.com/insights/howard-marks-memos

That's it for me. Peace!

11.9 MYM Trade 1

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  #34 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68

Not a great day trading for me. Won 1 lost 2. Relegated to sim for remainder of week as I hit my weekly loss limit of $10. I think I'm going to institute a daily and weekly live trading goal for next week so I don't lose $10 every week. Probably a good thing I'm in sim for rest of week because I'm pretty inconsistent. Not going to write a novel today. Need to study the charts, review my trades, and practice. Tomorrow is a new day!



MYM 11.10 Trade 1


MYM 11.10 Trade 2


MYM 11.10 Trade 3

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  #35 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68

No live trades this morning and my trades on Sim were mainly to test out slightly different settings on my MYM renko bars. I find that since my MES bars move a lot slower than my MYM bars it can throw me off at times. I sometimes put my limit order closer/further away than I'd like. 2-3 ticks one way or the other can mean a successful trade vs BE so just trying to get a little more precise on those entries. Had some positive market replay sessions last night and this morning so feel good about that.

That's it for today. Peace!

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  #36 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68

It has been a while. I was out of town for four days and slightly busier on the days before I left so I just didn't journal. I still traded those days and was breakeven for the most part. Won all three of my trades on Friday, but just no time to journal. Kind of scratched my first two trades this morning (+2 and -2 ticks on those). Market wasn't really doing what I wanted so got out. Won the next two but probably a little lucky there. Super slow today.

Since my last journal, I've decided to focus 100% on MES. My MYM trading was working OK but since most of my entries were based on MES volume I figured I should just simplify my life look only at MES. Also I added volume profile which I believe is adding value to my trading but still fairly new to it. I've had some good market replay sessions but not as consistent as I need to be. Currently reading Mind over Markets which has been interesting and hopefully adds some value as well. I'm not sure how much I can use TPO since I only trade first 30 minutes, but a lot of the concepts are great.

Hopefully we get more volume later in the week. Peace!


MES 11.18

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  #37 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68

One trade today which was a winner. Took my screenshot late so you can't see my volume profile, but it was there. Same as always. Big volume spike, reversal renko bar, headed in a direction with relative lower volume. There was actually a ton of resistance in the way so I was ready to close this one out as it approached VWAP for a few ticks but it went right through. Also my computer is a POS and started freezing up so I wouldn't have been able to exit if I wanted! New computer definitely on the wish list. No notes on the screenshot since I pretty much trade the exact same way each time. If I do something different I will call it out.

That's it for me. Peace!
MES 11.19

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  #38 (permalink)
 
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 GruttePier 
Amsterdam, The Netherlands
Market Wizard
 
Experience: Intermediate
Platform: Ninjatrader 8
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Nice trade Andy!


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  #39 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68

This is kind of a bad screenshot but shows the trades. NT has been super slow the past few days so cleared the cache and currently repairing the DB so it's kind of stuck right now. It might be NT or maybe it's just that my computer only has 8GB of RAM.

I tried closing my first trade at a point but nothing happened for about a minute. Then just hit my hotkey to close trade which was still delayed by about 10 seconds. Luck. 1st trade was just based on VS. I believe that brown line is my weekly VWAP but unable to check right now but that acted as a form of support. I prefer when volume spike are pushing off some kind of S/R.

2nd trade was a larger volume spike that had OR-High, reg-open and POC behind it. I normally do not like trading around POC but volume was high enough to justify. Closed my 2nd trade at 7 ticks but also super slow. Hoping there are some Black Friday discounts next week bc my computer is barely hanging in there.

Anywho, a good week. Need a lot more practice. In theory, I should be able to pick any day in market replay and end the day either breakeven or positive. That's the goal at least. I think the beauty of scalping is that since it requires a higher win %, you know exactly where you stand. If you can't replicate your results on a random day, more practice is probably required.

I think some insight I've gained in the last month from successful traders, is that the risk reward equation isn't something set in stone. They manage every trade. If market is not acting as they anticipate, they exit at breakeven or a small profit. When I started, I thought to myself, don't touch my profit target. It will mess up my risk reward. My entire strategy is based on little bursts of movement. If those stall for too long, I'm bring my stop to break even, trailing, or exiting. When those bursts end, I am really just hoping at that point. Volume Profile and lack of S/R will keep me in trade longer, but I don't like being in a trade for more than 30 seconds if price is just sitting around doing nothing.

I've got my eye on this laptop and will upgrade to the 32GB of RAM: https://www.cyberpowerpc.com/system/Tracer-IV-R-17-Xtreme-200

Pulling the trigger on this next Friday with or without a Black Friday deal.

Have a great weekend everyone!

MES 11.20

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  #40 (permalink)
 andyd124 
Chicago, IL/USA
 
Experience: Beginner
Platform: NinjaTrader 8
Trading: MYM & MNQ
Posts: 54 since May 2020
Thanks Given: 83
Thanks Received: 68


Two trades this morning. Stopped out on first for 6 ticks. Would've been a winner with my normal stop loss. Oh well. Woulda coulda shoulda. Still a loss. I normally have a 10 tick stop but was playing around with 6 ticks all weekend and had some success so wanted to give it a try. I switched over to my 2nd sim account at 9. I don't really count trades on my 2nd sim but I did take a second trade which was a winner.

The keys for me in my market replay sessions over weekend were to be careful with volume spikes around POC. Lot of chop can happen. Also, just make sure my VS is going away from my S/R line. A lot riskier going into. If price fully clears S/R by a full bar, then I'll consider jumping in on a pullback. Also if I get two reversal bars with high volume I'll maybe jump in too. Probably no live trading for a while. The good news is my main sim account has been going up little by little. A few dollars here and there. Not enough to where I'm even close to trade live micros on a regular basis, but baby steps.

Hasta Maņana!
11.23 MES Trade #2


11.23 MES

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Last Updated on December 18, 2020


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