Trading PATs - ES + Currency Futures - futures io
futures io futures trading



Trading PATs - ES + Currency Futures


Discussion in Trading Journals

Updated
    1. trending_up 2,088 views
    2. thumb_up 13 thanks given
    3. group 7 followers
    1. forum 34 posts
    2. attach_file 50 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Trading PATs - ES + Currency Futures

(login for full post details)
  #1 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Hi Everyone,

I'm creating a trading journal for myself to track my performance on the Currency Futures (6E, 6C, 6J, and 6B for now) and ES. The strategy is PATs - focused on 2nd entries on trend days, and fading extremes and breakout pullbacks on range days. I like the currency futures because of their relatively cleaner charts and setups, with less noise than the ES or other larger futures markets, and the ES has good volume for multiple small scalps and occasional runners for me!

Entry: After finding a 2e, extreme of range, or breakout pullback, I look for a good, small signal bar, and entering with a limit order after it goes one tick above my signal. The price usually pulls back at least a tick so I can get a slightly better entry than using a stop order.

Exit: 2 contracts: 4 tick scalp + runner, managed by trailing the low/high of the last bar.

I am still working on trade discipline in regards to when to stop trading for the day. The system now is after 4 points or $200, I close out and switch to SIM, and if I end up losing on two trades for a 2 x $100 loss + commission Iíll switch to SIM for the day too.

Todayís trades were 2-1, with an overall profit of x points. However, the day was a loser because I over traded and made some risky and dumb trades on GC and ES. (Hence moving away from those larger markets for a while).

Trade 1: 6C 1st entry short

Winner - 1 point scalp and 3 point runner
Entered with a limit sell after prices broke one tick below the signal.

I didnít manage the runner perfectly. I was trailing the top of each last bar, but seeing the small low I hesitated to move my stop. Then prices moved past it upwards and I was stuck. Manually closed out.

Trade 2: 6J 2nd entry short

Winner - 1 point scalp and 2.75 point runner
Standard limit entry as

above. I managed the runner well and got out nearly at the bottom of the move.

Trade 3: 6E 2nd entry short

Loss - 1.5 point stop loss
I entered with a limit after prices broke a tick below the signal bar, but the prices moved fast and when I got in, they had already moved to 1.25 points below and back up. I shouldnít have entered based on this and the fact that the signal bar was a doji.
It was also a terrible second entry - I started the count a while back and used the congestion as the midpoint between the first and second leg. Not a convincing setup.

Overall p/l: 7.75/1.5 points = 6.25 pt day (Minus some losers on other market setups. Ditching them for now...)

Some last reflections: Iíll work on having a checklist of entry conditions that I have to mentally go through before taking trades. Many of my losers could have been prevented if I just sit on my hands and wait for a better setup. Focusing on the 6X + ES markets will help me narrow it down to only looking at a few charts throughout the day. Hope tomorrow the diligence stays put.

See you later!
-pullback

Reply With Quote
The following 2 users say Thank You to pullback for this post:

 
Best Threads (Most Thanked)
in the last 7 days on futures io
The war of the two worlds (options traders vs futures traders)
111 thanks
Spoo-nalysis ES e-mini futures S&P 500
53 thanks
How did you learn to trade?
38 thanks
Big Mike in Ecuador
36 thanks
The Small Exchange (www.smallexchange.com)
35 thanks
 
(login for full post details)
  #2 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Looks like the images got messed up. Will work on that for next time lol. The order arrows still make it clear which trade is which.

Reply With Quote
 
(login for full post details)
  #3 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received


Friday, November 7th 2020 update:

Hello everyone! Traded the MES through the ES chart on SIM today, for a total of 3.25 points. 5 contract size, with 3 scalps and 2 runners. Only took two quick trades in the morning, about 10 minutes apart.

The first trade was a 2nd entry long after a nice uptrend broke and went into a small congestion range. I figured the 2el would come back to test the uptrend. 3x 1pt scalp and took out the second contract at 2x 1pt as well.

The second trade was a breakout pullback long after prices broke out on the downside of a range. Nice signal bar. Got 3x 1pt on the scalp and stopped out at breakeven + 1 on the 2x runners.

Stats:
2 trades, 2-0
P/L - 3.25/0 pts

Image attached below.

See you on Monday!

Attached Thumbnails
Click image for larger version

Name:	11-27-2020 ES.png
Views:	161
Size:	136.2 KB
ID:	306856  
Reply With Quote
 
(login for full post details)
  #4 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday, November 30th 2020 update:

Took three trades today. Ended +$160!

Trade #1:
RTY - Took a 2el for 1 pt scalp and got stopped out at breakeven + 1 on the runner.

Trade #2:
ES - Took another 2el, but right after some congestion. I got lucky for the point and stopped out at BE + 1 again.

Trade #3:
RTY - 2es on a downtrend, with a 1 pt scalp and runner after trailing at the last bar close.

Stats:
3 trades, 3-0
P/L - ~4.4/0 pts

Images attached below.

See you on Tuesday!

Attached Thumbnails
Click image for larger version

Name:	ES Trade #2 - 2el 1pt scalp.png
Views:	117
Size:	166.2 KB
ID:	306949   Click image for larger version

Name:	RTY Trades #1+3 - 2el scalp and 2es scalp + runner.png
Views:	85
Size:	152.1 KB
ID:	306950  
Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #5 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Tuesday, December 1st, 2020 update:

Took four trades today with a rough start - 2pt loss

Trade #1:
6E - Took a 2es right after a long uptrend full of 2els, and I had a thought that it might stall finally. Still went in too enthusiastically. -2 pt loss.

Trade #2:
ES - Took a 2el which wasn't a perfectly defined one, but had two clear legs down and a double test of the bottom channel. Got 1 pt scalp, and BE + 1 on the runner.

Trade #3:
RTY - Prices went back to almost the top of a downtrend range, so I took a 2es and got the 10 tick/ 1 pt scalp and BE + 1 on the runner. The price moves so much, its been stopping my runners out a lot. I will experiment with having the runner move to BE - a few ticks, or .5 pts to give it more room but still lock in a breakeven.

Trade #4:
6E - As I expected, 6E went into a little congestive range with a slight downtrend, so I took a 2es with a very bearish signal bar. I entered, and my ATM strategy wasn't selected! So I was in the trade naked - closed out manually at market, which locked in .75 pts (slippage) x 2 contracts = 1.5 pts.

Stats:
4 trades, 3-1
P/L - ~4/2 pts - comms etc made today only +$15. Beats a losing day!

Images attached below.

SIM time. See you on Wednesday!

Attached Thumbnails
Click image for larger version

Name:	#1 and #4 6E -2 pt loss on 2el and +1.5 on 2es.png
Views:	95
Size:	94.4 KB
ID:	306952   Click image for larger version

Name:	#2 - ES 2el scalp.png
Views:	76
Size:	131.3 KB
ID:	306953   Click image for larger version

Name:	#3 RTY - 2es scalp.png
Views:	71
Size:	128.4 KB
ID:	306954  
Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #6 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Wednesday, December 2nd, 2020 update:

Took three trades today for a losing day. 4.5 pt loss

Trade #1:
RTY - RTY was on a downtrend, and prices broke the ranging downtrend channel. I took a 2es with a large, neutral (still, red) signal bar. Stopped out for -2.5 pts. Ouch. Could've been avoided because a. shorting above EMA b. neutral signal bar c. break of channel therefore channel may act as resistance.

Trade #2:
RTY - This was definitely a revenge trade. A new signal bar with a clearer 2es not more than 10 minutes after trade #1 - still, above EMA and without any sign that the prices were going back to the channel. Should have actually gone long - prices bounced off the EMA hard to the upside. Stopped out for -2 pts.

Trade #3:
ES - Accidentally used my real account on a 2es above EMA - another break of my rule. Exited quickly for +0 and +.25pts, so really a scratch trade. Included it because I need to learn to double check which account I'm on. The trade could have easily broke my max daily loss limit.

Stats:
3 trades, 1-2
P/L - .25/4.5 pts - big loss day. Ate up the last two days of gains.

Image attached below.

I'm rereading my trading plan - noting my rules on trading on the right side of the EMA, good signal bars only, and clear trend/ranges ONLY. RTY's ATM strat may have to change to 1:1 based on signal bar. That might work better. We'll see.

See you on Thursday!

Attached Thumbnails
Click image for larger version

Name:	#1 and #2 - both failed 2es for a -4.5 day.png
Views:	67
Size:	81.7 KB
ID:	307003  
Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #7 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Thursday, December 3nd, 2020 update:

Took 3? trades today - all losers - terrible trading from start to finish. Lots to work on. All three markets were in a range congestion this morning, and I was attempting to fade the highs as they pulled back. Lots of noise and bad picking of tops stopped me out. I think ranges are extremely hard to play for me right now in terms of knowing when the extremes or breakouts start to fail. Not going to list the trades but I'm coming back with a clearer head and looking to play my strengths in trend days next time.

See you on Friday!

Reply With Quote
 
(login for full post details)
  #8 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Took one more trade today. It was a good one. ES - after a double top on the all time high and congestion at the area, prices broke below the EMA and set up a 2es, where I went short for 2 contracts and got my 1pt scalp, and a nice 2.75pt runner for a total of ~3.75 points, $212!

See you on Friday - no more today.

Attached Thumbnails
Click image for larger version

Name:	#1 2el after double top of the ATH, 1pt scalp and 2.75pt runner.png
Views:	54
Size:	15.3 KB
ID:	307014  
Reply With Quote
 
(login for full post details)
  #9 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Friday, December 4th, 2020 update:

Took seven(!) trades today for a breakeven day.

6E Trades: All 2e's. 3 1 pt scalps and 3 BE + 1's.

ES Trades: ES went into the all time high (ATH) area, so I was looking for shorts. Had two bearish signals, both for 1pt scalp and BE + 1 (wrong marking on chart of 1pt runner, I believe both were just BE+1 trades)

RTY Trades: Got a textbook 2el off ema with a beautiful signal bar. Took my 1pt scalp but stopped at BE + 1 as usual. Then my big loss for today - saw an ATH on RTY with a bearish signal - but it was too large and an inverse signal (blue/green when looking for a short, despite being bearish in shape), so I shouldn't have taken it. Additionally, looking back at past ATHs, I should have noted that it was not rejecting the ATH's like ES was. Got stopped out. - 2 pts

Stats:
7 trades, 6-1
P/L - 7.5/2 pts

I should note I overtraded in the morning on micros prior to switching to the real markets - and got chopped up. Gonna stop trading from 9:30-9:50, and either just watch or SIM.

Images attached below.

See you on Monday!

Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #10 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received


Images!

Attached Thumbnails
Click image for larger version

Name:	6E 2e's.png
Views:	63
Size:	168.3 KB
ID:	307104   Click image for larger version

Name:	ES ATH shorts.png
Views:	55
Size:	111.5 KB
ID:	307105   Click image for larger version

Name:	RTY 2el then my big ATH loss.png
Views:	52
Size:	134.8 KB
ID:	307106  
Reply With Quote
 
(login for full post details)
  #11 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday, December 7th, 2020 update:

Took five trades today for a point positive, capital negative day.

Trades will now be explained in the screenshots. Some specific thoughts:

#1. The three legs up before and the steep uptrend should have made me not take this trade. It also had some really bearish bars leading up to it. I WAS anticipating a correction or at least a flattening of the trend but I still took it. The red bullish signal was another sign to not take it. There was nothing bullish about it.

#2. This 2el was below the EMA but had a nice bounce off the channel trend line and had a nice bullish signal. I managed the runner well by locking in the 1.25 pts, not expecting it to take off before failing to the downside.

#3. RTY, ugh. I should stay away from this market for now - some days the momentum seems clear then other days its choppy. Guess that's everything though. Looked like a large range day, so I tried shorting the 2es. Too much congestion and a weird signal bar - I should have skipped it altogether, or gotten out as I got 2 chances to with 4 ticks. I need to be more conscious of congestion.

#4. F2el off of the ema - I got tipped by a friend and usually do not know how to take f2el's yet, but it served as a pseudo 2es as well and looked like it would go short. In hindsight, I was a big lucky to get this trade as the signal wouldn't have fulfilled my criteria.

#5. Proud of this trade - great bearish signal and a 1es, but almost had 2 legs up, and with it being right by the ema I had to take it. Runner management again got me out at BE + 1, but if I used the last bar close method I might have been able to squeeze more. More experience needed.

Stats:
5 trades, 3-2
P/L - 4.5/6.6 pts (Sigh. Two losses of 2pts and 1.3pts x 2 contracts just eats up any gains for the day, not even considering comms)
Getting the percentage up from ~50 to 67 is the goal. Then better runner management.

Keeping the head up - see you on Tuesday!

Attached Thumbnails
Click image for larger version

Name:	6E - 2el fail due for a correction. 2el good off bottom of channel. f2el good off ema to short s.png
Views:	61
Size:	187.8 KB
ID:	307120   Click image for larger version

Name:	RTY - Breakout Pullback Fail -2pts.png
Views:	47
Size:	96.5 KB
ID:	307121  
Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #12 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Tuesday, December 8th, 2020 update:

Embarrassing day. Hahaha

Screenshots below. Some specific thoughts:

6E: For some reason I took this 2es after a break out of a range with a huge signal. No excuse.

RTY: I guess... I just shorted? Dunno why I took #1. #2: Little 2el for a small scalp. #3: Strong move up to ATH, with a nice signal - expected a correction but stopped out. Trend is your friend. #3 entry - trying to sneak into a 2el that formed already. In the context of the finished bar that was dumb. No excuse either.

ES: #1. Same as RTY #3 - strong move up with a signal, expecting a pullback. Countertrend, above EMA, after a strong move up, overall uptrend. Dumb trade. #2 Tried shorting ATH with a limit order. #4 - small scalp, 2el that scared me with congestion and after so many losses, I was antsy.

ES Bonus! My one redeeming trade at the end - Nice 2es and breakout pullback on a micro range.

Overtrading. Not listening to my rules. Being distracted and wanting to just trade for fun. At least the next day was better.

Stats:
9 trades, 2-7
P/L - a lot of loss

I reflected, lets move on - see you for Wednesday!
6E WHY


ES 2es


ES WHY


RTY WHY

Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #13 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Wednesday, December 9th, 2020 update:

A better, positive day after 2 grueling loss days.

Screenshots below. Some specific thoughts:

Today I tried something new. I drew boxes to the right of prices where the key areas would be, should prices go there. I'd take trades if they did, and outside of the boxes, just watch and see what happens. It helps to define where you are waiting for prices to go, and then decide to look for entries. No more looking for trades in the middle of nowhere. For example, I placed them at the channel lines and at any key r+s areas that if broken, I'd expect a pullback. You'll see these on my charts.

ES: Prices were in a downtrend range. 1: After a channel break (had a tighter one than the screenshot) and two bearish signals and a 2es, I shorted for 1pt scalp and BE+1. Repeat pattern 10 min later. Missed the huge move down as I was away. 5: An hour later, there was a double test break of the low and a large bullish signal, so I rode the next bar for a 1pt scalp and 1.25pt runner. The micro trendline helped figure out my exit target. I think the key entry idea that lowered risk on it failing and continuing to drop was waiting for prices to pull back above the last resistance.

RTY: 2: Range-ish uptrend. Prices reached the bottom of the channel and had a bullish* signal and a 2el, so I got my 1pt scalp and BE+1. Prices shifted to a downtrend range. 3. I shorted a nice bearish signal bar at the top of the channel for just 4 ticks and BE - didn't switch my ATM strategy from ES. Could have gotten maybe 8 ticks? Definitely not a full point though. 4. My fail of the day. After a micro range, prices broke with trend, down. The pullback was there, but I didn't wait for a bullish blue signal, nor for the prices to get back INTO the range. Quickly got stopped out, and with a large bar, I lost 1.8 pts.

Good day of waiting for good setups. The one loss ate into my profits quick, and the ES #5 was the thing that saved me, thanks to the runner. I would say that was a risky trade too though, so I need to be more patient and careful, using my boxes and only taking good signal bars.

Stats:
5 trades, 4-1
P/L - 4.75/3.8 - comms = +$50

See you on Thursday!

ES 1+5


RTY 2,3,4

Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #14 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Thursday, December 10th, 2020 update:

I overtraded Thursday. Gonna go over the trades on what I consider a training day. I went over a bunch of videos and wanted to train the setup identification, entry, exit stuff.

1. Loss. After prices pulled back with a lot of congestion I took a 2es that failed. The pullback was long due and after many bounces from EMA. Also shorted right into 9:30 market open; wasn't careful enough. I got back a quick point or two off of the noise right after. Avoid market open.

2. After a huge buy run, a nice signal bar and 2es presented itself and I scalped for 1pt and BE+1.

3. Pullback to the ema, 2el with a large bull signal but plenty of room to get back to the previous high. 1pt + BE+1.

4. After strong buying a 1st entry long with a good signal got me 1pt and 1.5pt runner.

5. Loss. Prices went into a range after a double top and after prices broke the low and had a relatively bullish (but still red) bar, I went long. The bottom range line was not as convincing, and I didn't wait until prices came back into the range to go long. I failed to remember the range line can act as resistance if prices breakout and pullback - best to either have enough space to test it, or have already gotten back inside the range. 2pts loss x2.

6. Downtrend/selloff - first pullback with a good signal (1es), got 1pt and 1.25pt runner.

7. My 1es became a 2es, and I caught that as well for 1pt + BE+1.

8. Loss. After another range area I once again got burned on a pullback. This time going short after a breakout on the topside. Didn't enter with a signal, and the "breakout" wasn't even strong. After an actual bearish signal I got a small 1pt scalp. I need to stop entering breakouts that aren't convincing or have any good signals and without clear resistance.

9. I noticed prices formed a strong channel and bought the channel bounce 1el. 1pt and .5pt runner.

10. After a selloff, the first 2es correction was shorted for 1pt and 1.25pt runner.

Stats:
10 trades, 7-3
P/L - Breakeven and loss w comms.

I reflected on the trades and obviously need to bring it back for fewer, more thought out trades. Too many close call scalps today, and I need to study ranges more! My conclusion is that any good trade I make is consistently backed by a really nice signal bar (on top of any actual trade context). Will focus on clear breakout pullbacks on defined ranges, and pullbacks to EMA on defined trends, staying away from congestion and noise.

See you on Friday!
ES Trade Performance


ES

Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #15 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Friday, December 11th, 2020 update:

A wonderful trading day. 3-0 on Live and 4-0 on SIM. I stayed calm and waited for good entries. I think all of the trades were thought out and had good reasons to be in and minimal reasons to not have taken them. No close calls today either. I think the chart was cleaner and easier to trade today too, so I may have been a little lucky. Still, it's a good feeling to be clearly in the green today.

I've focused entirely on ES now. RTY is quite correlated with ES, and the tick size difference and 10 tick/point causes me to fumble too many trades as I have to switch the ATM strat on NT. Watching 6E, RTY, and ES causes me to miss out on more entries than the amount of times it's provided me more setups. So I decided to go and focus on ES and master that first. There are more than enough setups to find, and waiting on one chart helps to get into them well.

Live trades:

1. Prices were in a clear, clean downtrend. Only one pullback by 11:45 when I came in. Saw a sharp pullback and took the 1es with a clean signal bar for 1pt and BE.

2. Prices pulled back again for a 2es, and another clean signal bar and validation with the next bar, so I limit ordered in at the right stop entry location for 1pt and a 1.5pt runner!

3. A final 2es came around near the lows of the overnight and the low of the day. .75pt scalp (got worries about whether it would test the bounce location. It did to the tick) and 1.25pt runner. Got good slippage or something on that.

Sim trades:

1. This was before live trade #3. After that first bounce, I stop ordered long after a higher low. Not sure if that is really a higher low as some people told me it wasn't - will have to study how to define and locate HL and LH's. Not sure if this was a too risky, low probability trade that just worked out, so I shouldn't have taken this countertrend trade, but I took it on SIM for a reason. Got 1pt and BE+1.

2. 2es after a strong uptrend with clear corrections. Big signal bar but it was very bearish. After 3 bars of bearish congestion I got out at .25pts and .5pts.

x. Trade at 14:38 was a test meant for my indicator account. Disregard.

3. Prices broke the highs of the day and the double top at 14:30s, with a neutral bar and bearish selling on the next, so I limit ordered in after prices broke the signal. Took it because I knew I had room to the resistance, learned from yesterday's range mistakes. Got 1pt and 1.25pt runner.

4. Prices broke back into the range, so I knew the resistance would turn to support and we might test the other side, which I think prices did. Went short on the 2es/lower high bearish signal for 1pt and BE+1.

Stats:
7 trades, 7-0
3-0 Live, 4-0 SIM
P/L - 15.5/0 for around $370 live and ~$4-500 SIM.

Good day. Thoughts for today: I will have to review my winning trades and see how often my 1pt target hits 5,6,7, or even 8 ticks. I might revise the ATM to take profit at 6 ticks for the first scalp. With the average bar size and volatility this might be possible. Realizing the importance of a GOOD signal bar, with <10-12 tick size; its crucial to the winning trades. Gonna try to keep this consistency and continue following my rules in the next week!

See you on Monday!

ES Live Trades 3-0


ES SIM Trades 4-0

Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #16 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday, December 14th, 2020 update:

Another big W today. 4-0 on live and 5-1 on SIM. ES opened with a steady uptrend after gapping up from Friday. We were all looking for prices to gap down, but there was also a really well defined uptrend channel which held out until around 10:30. Caught most of my live trades on that uptrend. Tons of easy trades today after I closed out - strong downtrend with defined, clean pullbacks. Feels weird to get a day with so many entries!

Trade overview:

1. Strong uptrend, with a 2el (perceived, as last swing was lower than 2nd entry, but price action still held up) entered off of a red bullish signal, so a slight rule break, but I saw the strong momentum of the next entry bar. Got 1pt scalp and a 1.25 pt runner target after prices stalled at +2pts.

2. 2el off of the ema with a strong signal bar. Another red bull bar so I may have been lucky. But I think the shape matters more than the color at times. Prices broke out on the downside of the EMA and I got the 1pt scalp and 1.5pt runner - getting better at seeing if momentum has more to it, or if this is all I'm gonna get, in which case I throw my stop back up to a good exit of 1.5pts.

3. Another strong 2el off of the EMA, but by now prices were stalling a bit so I was weary, and the price movement intrabar after my entry was very slow. Didn't shoot to target, so I scratched out at .25pts x3 contracts. Would have hit my target, but I'm glad I got out as the movement was very hesitant. Not like the previous pullbacks. I knew there was a gap to be filled soon, and it did right after.

4. SIM. 2el formed, way below the EMA after a break of trend. No reason to go long here but I did it on SIM knowing this. Took a loss. 2pts

5. SIM. Missed a great 1es pullback, but no signal bar so it's alright. The next pullback had a great bearish signal, perfect. Entered quick and got 1pt and 2pt runner. I was one tick/one second off of getting into this on my live account. Just not quick enough with the limit order and got too greedy with the entry. Still, a sim trade for 4pts total on 3 contracts!

6. LIVE again! A third 2es pullback had me hesitating but with a clear 1es signal and then an even more bearish 2es signal bar I shorted into the ema (at least there were .5pts back to it) with only one contract to reduce risk. Quick and easy 1pt. Could have had a 3pt+ runner on this.

7. SIM. Seeing all the momentum down and going into the gap area I shorted for a point off of the movement. No real play - would never do this on live and so shouldn't do that on SIM. Should have gotten the F2EL right before that.

8. SIM. Another 1es pullback, was weary about this as there were plenty of good 1es's and I anticipated a flattening or a different reaction - still, entered with a good signal bar and scalped for 1pt and 1pt runner.

9. SIM. Prices ranged upwards and presented another 2es, after mighty congestion and with a wicky bearish signal I still entered (it's SIM!) but after wicky movement on the next bar I scratched out at .25pts

Stats:
9 trades, 8-1
4-0 Live, 5-1 SIM
P/L - 17.5/5.5 for around $380 live and $220 SIM - $600 total.

Another great day. All of the winning trades would have netted 6, and even 8 ticks maybe. Many don't get to 2pts though, but looking back, a significant amount get to 6 before reversing, or hit even more for the runner. I might have to set up a ghost sim order to a/b the 4 tick scalp PT vs 6 tick PT with BE+1 kicking in at 7 ticks. The losers stay the same, while we squeeze a bit more from the winners!

See you on Tuesday!

ES Live


ES SIM


Trade Stats Live


Trade Stats SIM

Reply With Quote
 
(login for full post details)
  #17 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday, December 7th, 2020 update:

Loss day - A choppy chart threw me off today and I ended early.

1. Bought the breakout pullback, but didn't wait for a signal again. Old mistake. -2pts

2. Channel bounce entered on a limit and got my point, then added to my position after it became a 2es. Stopped out when the 2es failed.

3. Two great pullbacks down with good signal bars but my NT was spitting out error messages.

Was done early today - tomorrow I'll be back with a refined methodology and some new perspective. Been exchanging ideas with friends.

Stats:
3 trades, 1-2
P/L - 2/12 pts

See ya on Tuesday.

ES 3-1

Reply With Quote
 
(login for full post details)
  #18 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Tuesday, December 8th, 2020 update:

The new comprehensive system works... as far as my one day of testing goes. In simple terms, buying pullbacks and fading ranges - no different than before but I've really gotten the entry and exit criteria to one that shows up far more throughout the day and for a higher success rate. Today was good! 4-0 on Live and 3-0 on sim. Might not share the trading charts but we'll see if the journal continues. Perhaps just updates on stats each day and talking about random stuff. We'll see.

Stats:
7 trades, 4-0 live 3-0 sim
P/L - 10.5/0 pts

See ya on Wednesday.

Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #19 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Wednesday, December 8th, 2020 update:

5-0 live, 2 scratch trades with <.5 profit. Stuck to my rules, took each setup until I hit my $350 P/L and switched to SIM. Still learning the system and took some antsy trades on SIM that lost, but those didn't follow the rules. I've been manually backtesting for fun. Helps get the setup in my head to be able to find it on the spot and wait for it to fill. All in all, the trading day was short, from 9-10, and I got out with 4-0, then came back for another quick scalp.

Getting the first loss on this strat will be tough - more backtesting will build faith in the percentages and help filter out the bad entries by reading the prior setups.

The current ATM is set at 2 contracts, 4t scalp, and 6t runner as a lot of the trades yesterday were going to BE+1, throwing off the P/L/R:R eventually when it doesn't weigh on the losses as much as a simple scalp. Still figuring out the optimal scalp and runner for this strat. Could be 2s:1r 6 tick, or maybe just a scalp, or something. We'll see.

Stats:
5 trades, 5-0
P/L - 7.5/0

See ya on Thursday.

Reply With Quote
 
(login for full post details)
  #20 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Wednesday, December 23th, 2020 update:

Wonder where all the time went. I've been busy - two huge W days and a bigger loss day humbled me on my limit in blind entry conditions. I guess even with the new simplified system I need signal bars. Backtesting is hard for the system as you need to consider intrabar movement. Will continue to experiment with blind limit entries on SIM.

Took three trades today, 2-0 on ES and 1-0 on MES for $10 loss. Overall $80 up today as I've moved down to 1 contract for the holidays and to get my head back - trading with a lower, inconsequential number is better for trade performance.

1. Prices were on a strong uptrend and due for a correction/rebalance of trend so I shorted on the gann line and at the double top. 1pt scalp

2. Prices corrected and established a new, less steep uptrend - bought the bounce off of the trendline where a gann also intersected.

3. MES short - went long after lots of congestion and FOMOed into a trade with an OK signal but near the top of a micro range. $10 loss

Gann resistance lines are OK for limiting in as far as I can see... I think the WR justifies the occasional loss as long as large momentum is avoided. We're taking pullbacks to the EMA with good signals (1e/2e's basically) and fading resistance lines. Scalps only at this point, and I'll start to scale up as the WR is established and confidence builds...


Stats:
3 trades, 2-1
P/L - 2/2 (MES points)
+$80

I have been dabbling with automated trading on NT. Found some interesting strategies and have been working on implementing and backtesting them, then optimizing for parameters and markets. A futures funded account may pair well with automated strategies to fulfill the capital requirements. Just a thought at this point.

Merry Christmas. See you tomorrow!

Attached Thumbnails
Click image for larger version

Name:	Screen Shot 2020-12-23 at 11.00.03 AM.png
Views:	40
Size:	449.3 KB
ID:	307649  
Reply With Quote
 
(login for full post details)
  #21 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Just realized all the entry date discrepancies in the last 3-4 posts... I dont know what I was thinking lol. Refer to the date posted for the actual entry date, I suppose! Haha.

Reply With Quote
 
(login for full post details)
  #22 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Thursday, December 24th, 2020 update:

Christmas Eve Trading..

One trade today, a winner. Limited in off resistance on the topside of the range. 1pt scalp on 1 contract. Good way to end the week.

Stats:
1 trade, 1-0
P/L - 1/0

I love futures because a 1 point day could have been +$50 like today, +$500 w/ x10 contracts, or even +$2500 w/ x50 contracts. The contracts just scale up. The goal is to get 2 good trades, scalp in and out, work up that WR, and scale the contracts, not the trades.

Have a wonderful holiday week, Merry Christmas, Happy Holidays, etc. etc.

Attached Thumbnails
Click image for larger version

Name:	Screen Shot 2020-12-24 at 10.39.08 AM.png
Views:	47
Size:	444.2 KB
ID:	307671  
Reply With Quote
The following user says Thank You to pullback for this post:
 
(login for full post details)
  #23 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday, December 28th, 2020 update:

4-3 day today. I started off with a swift loss at 9:31, which I'm finding is really messing with the rest of the day's performance. More on this later.

ES Trades:

1. I flubbed the stop order entry on this EMA touch, and prices sucked me in for a quick 2pt loss. My stop order was supposed to go a tick above the close but my small laptop screen screamed disaster. I miss my mouse and monitor. Lol

2. 2el with a big signal but after a trend break so hoping to retest the highs or make its way up at least. 1pt scalp

3. Prices touched ema and bounced off, I took the large signal bar which opened high and closed low - not exactly a hammer. I need to avoid signals like these: both >2.5 pts AND ambiguous body. My favorite signals are hammers/inverse hammers with 1/2 body confirmation or less, and little to no wick rejection on the trading side.

4. Gann line fade. I'm ditching the Gann lines because I cannot seem to figure out why my lines are different than others' - we have tried altering the settings and the ambiguity leads me to believe it's not exactly a science.

5. 2 tick scalp off a trap long breakout pullback on a tight range. Entered because of the beautiful inverse hammer signal. Got out too early! But I was worried we wouldn't quite hit the other end of the range and tick through to get me out.

6. 2el with a nice hammer signal. Great trade. Still, the intrabar movement spooked me and I got out at .75. Today's low volatility meant trades were having a hard time getting the full point + tick through to 5t.

MES Loss: I am supposed to be using MES 1350 as confirmation - not as a secondary chart that I can take setups off of just because it has a better signal than ES. The trades need to be confirmed by BOTH charts - not have it look bullish in one and bearish in the other when I take a trade. Anyways, I took the breakout pullback with a HUGE signal - it was a hammer, yes, but the size should have completely turned me away. Worse, I had 2 opportunities of congestion to get out at BE+1 but kept my PT. Loss of the day.

Lessons:
  • Gann lines are rather arbitrary until I can pinpoint how to make somebody else's lines look identical to mine. Not using them anymore for now.
  • Focusing on: 2e's to EMA on trend, EMA touches on trend, bopb's on range. All with signal bar:
  • Signal bars NEED to be clean. <10 ticks, and with a body biased in the right direction, taking up 1/2 or better, 1/3rd of the candle. Little to no top wick rejection (for longs). Hammers are the best.
  • Entries need to be cleaner. I gotta zoom in more! These flubs can cost a tick, or the whole trade and create big losses.
  • Get out after 2 bars of congestion, and when you have an opportunity to get out at BE+1, take it if the setup is losing momentum. Better a small scratch than a loss. However - ideally I should be more selective with the trade setups and thus have enough faith in the trade that I do not need to worry about hitting the full point PT.
  • Continue to trade 1 contract as the inconsequential dollar amount really helps reduce greed and fear emotions.
  • Updated "stop trading" criteria: 2 wins, or 1 loss, +91 (2 wins of 1 contract and 1 point), -109 (1 loss of 2pts), 2 trades max a day until January.

Stats:
7 trades, 4-3
P/L - Not sure - $270 loss including comms.

One more post after this!

Attached Thumbnails
Click image for larger version

Name:	Screen_Shot_2020-12-28_at_4.54.20_PM.png
Views:	35
Size:	477.8 KB
ID:	307741   Click image for larger version

Name:	unknown (1).png
Views:	34
Size:	499.4 KB
ID:	307742  
Reply With Quote
 
(login for full post details)
  #24 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Bonus post:

My trading strategy has been developed by this point - I have realized that now is the part where one must reinforce and learn the strategy simply through practice. Just like a musician learns the notes, then practices the music over and over again in order to reinforce the right notes, develop their technique, and make improvements and refinements, I must apply the strategy into live scenarios. Yes, I have already been trading live! But 2 hours a day playing with real funds is not enough, so I will be methodically approaching NT's Market Replay to practice sim trading my strategies in real time. The speed up functions allow me to skip to when a potential setup is coming along, and I can get through the 9:30-11am session in about a half hour. I'm excited to dive into this methodical practice stage.

Beginning with the Oct 5 open, I took 5 trades for 4 wins and 1 +0 BE. Issues to work on are overtrading setups, not being discretionary enough and having to exit early because of a lack of faith in the setup, and continuing to flub entries and induce slippage or get into trades I should not be in.

Practice makes perfect!

See you Tuesday!

Attached Thumbnails
Click image for larger version

Name:	unknown (2).png
Views:	31
Size:	170.1 KB
ID:	307743  
Reply With Quote
 
(login for full post details)
  #25 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Tuesday, December 29th, 2020 update:

2-0, a rule followed day.

Trades:

1. Prices were in an uptrend through the overnight, and at open had the first break of trend into a developing range. The first breakout on the downside had a double bottom with a hammer signal close. In the screenshot taken later tonight it's showing as a bullish doji. Exited for .5, as the ATR for this last week of 2020 has been low, and I didn't want to push the trade. It would have worked out though - but only for .75. Therefore I am happy with the early exit. Double bottoms are not exactly outlined in my strategy, but my hypothesis was that prices would test the channel again after breaking it once.

2. Prices sold off to fill the overnight gap, and established a downtrend channel that was constantly shifting. It was a confusing morning. A big two legged pullback leading to a 2es formed, and it looked like two measured legs up, so after the nicely bearish signal formed I limited in for a better entry and got .5 pts. Again, exited early, this time because after two strong legs up I was weary about a full point (and low vol again). Plus, prices weren't that far back to the EMA. Would have gotten a full point but the intrabar congestion and other concerns were valid to exit early. Maybe I should be more discretionary so that I can have full faith in my trades and just walk away and come back when they've completed.

Always more to work on. SIM time

Stats:
2 trades, 2-0
P/L - 1/0 +$41.

Have a good night and see you tomorrow!

Attached Thumbnails
Click image for larger version

Name:	{4B938BF0-AC93-41E1-8F7A-97A4B3EF5EA4}.png.jpg
Views:	28
Size:	153.2 KB
ID:	307758  
Reply With Quote
 
(login for full post details)
  #26 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Wednesday, December 30th, 2020 update:

2-0-1 scratch. Great day. My gann lines were acting as support and resistance pretty tightly so I based trades off them today. Prices were sluggish today - as expected - and the ATR was so incredibly low; it seemed like my 8t stop was taking up half the chart. Very low risk entries, but I went for lower profit targets of .75 because of it.

Trades:

1. Scratch trade for -commission. Prices reached top of range area and had a 2es, with a bearish signal that closed blue... Not a signal I take. Still, prices seemed to reverse convincingly in the next bar, so I entered in. Fear got the best of me when the entry bar closed bullish and I got out at BE, after misplacing my limit at 0 instead of +.25. Yet another mouse flub costing me the commission. Should I have stayed in? Not sure - I just should not have entered in the first place, unless I identified the range and felt the bear signal bar was good enough (both I did not).

2. Gann lines were acting as heavy s/r, so I limited in on the next touch and got my .75 very quickly in the intrabar movement. On ranges these work well, so they're a go for me.

3. Came back from lunch to another gann bounce, missed out on two more earlier. This was the point where the bounces would be more risky since we had so many previous successful bounces. However ATR was low, so I limited in and intrabar it quickly gave me .75 and no more.

Stats:
3 trades, 2-0-1(scratch)
P/L - 1.5/0
+$61.56 (comms)

Additionally here is the Oct 6th practice round. BOPBs, signal flub loss, double bottoms, 2el's. One fail where I went short stead of long. Still got .5 pts lol. 5w-2l: 2.25pts profit subtracting the short flub.

See you tomorrow for the last day of the year! Sayonara 2020.

Attached Thumbnails
Click image for larger version

Name:	10:6:2020 practice.png
Views:	33
Size:	165.9 KB
ID:	307779   Click image for larger version

Name:	12-30-2020_2-0-1scratch.jpg
Views:	31
Size:	197.7 KB
ID:	307780  
Reply With Quote
 
(login for full post details)
  #27 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Wednesday, December 30th, 2020 update:

2-0 today, for the last day of 2020, I'm happy. Prices were slow but more volume than yesterday. Maybe people selling off positions for the end of the year.

Trades:

1. Gann lines have been figured out - they rely on the lookback amount of the data loaded - i.e. 3 days vs 21 days. Most recent price data makes most sense and so I now have the gann 1 + 3 lines plotted and can use the confluent areas as stronger S+R.

Did not know this before trade #1 - thus, I was basing the entry off of Gann 1. The lines were also higher before I somehow got them the way they are in the screenshot. Basically, every day reset the gann 1+3's initial price and use the converging areas as s+r.

Anyways! Limit entry in, prices plunged and stopped at the gann 3 line nearly to the tick. I almost added to my position as I had a hunch this happened but hesitated and when I got my gann 3 up, it was already pulling up fast. Exited at .25 because I wasn't sure how much left of the pullback prices were willing to give. Will avoid this scenario by having the two gann sets and confirming if prices have been respecting those lines.

2. After figuring all of this out I had a limit in place by gann 3, walked away and came back to it filled. Prices touched my 1pt target twice, and I settled for .5 as there were two bars of congestion. Prices never got the full 5 ticks. I should have set the target to .75 in the beginning as the ATR and volatility was down.

Stats:
2 trades, 2-0
P/L - 0.75/0
+$28.54 (comms)

I'm happy - I've got a good, comfortable set of trading setups - paired with a good entry signal and good management - I'm excited for next week.

Happy New Year, see you January 4th!

Attached Thumbnails
Click image for larger version

Name:	unknown.png
Views:	38
Size:	147.1 KB
ID:	307796  
Reply With Quote
 
(login for full post details)
  #28 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday, January 4th, 2021 update:

1-0 on the overnight, then 3-1 today. Broke some of my rules. Laid out here:


Trades!


Bonus!


Stats:
4 trades, 4-1
P/L - 2.5/2
+$2 bucks. LOL!

Lots of FOMO today for the craziest selloff I've ever seen. But tomorrow I will be back diligently following my rules. All of them.

See you Tuesday!

Reply With Quote
 
(login for full post details)
  #29 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Jan 5-13th update:

Long time no see. First week of January was hectic, market and life wise. I lost a bit, had several losing days through a combination of unfocused trading, FOMO/Revenge trades, and bad signal bars. Probably the number one thing that causes my trades to fail is a too large (over momentum) or too neutral signal bar. Don't have charts for the first week but the lessons I learned were primarily psychological - I need a solid few hrs and a clear mindset to trade while following all of my rules. As I get that under more control the trading becomes easier and easier.

Here are some charts:

Thursday, January 07: 2-1, P/L .75/2pts



Monday, January 11: 3-2 on SIM, being on SIM saved me from morning losses. Then a 1-0 scratch .25 trade. Got spooked. Still was getting into the groove of 2021 on this day.



and Tuesday, January 12: 1-0, with a nice 2el + Gann + BOPB confluence long for 1pt. Left with one win.



Overall looking forward to things calming down and staying within the rules, finding good hammer entries. My charting is becoming more personalized to my style and I'm happy with my risk management, which is the only reason my equity didn't take a huge hit with the consecutive losing days. The 2 win, 1 loss system works really well to protect capital and limit risk, if followed - which I need to work on!

See you on Wednesday!

Reply With Quote
 
(login for full post details)
  #30 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Wednesday, January 13th, 2021 update:

Limited setups today, I didn't see much. Took one trade on SIM for 1pt, semi risky. Another trade on live, for one tick profit, more or less a ceremonial trade to get off of the desk for the day.

Trades:

1. SIM +1pt - @10:28. HL with bull hammer signal.

2. Live +1tick - Entered after seeing a big EMA bounce bull hammer signal and smaller EMA rejection from the inside bars. Looks like I would have gotten the point. The LH scared me off and I just wanted to be done for the day. A small win is better than no trades or a loss!

Stats:
2 trades, 1-0 SIM 1-0 Live
P/L - 1/0 SIM .25/0 Live
+$8 bux lol

When the simple rules are followed predictable results come. Trying to remember not to take reckless entries and just sit back and watch.

See you Thursday

Attached Thumbnails
Click image for larger version

Name:	01-13-2021 1-0 1 tick day, no setups.png
Views:	17
Size:	161.3 KB
ID:	308129  
Reply With Quote
 
(login for full post details)
  #31 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Thursday, January 14th, 2021 update:

2-0 on SIM for the open, with a gann rejection and bopb. Then a nice live trade for 1pt, gann resistance with bull signal bar.

Stats:
2-0 SIM 1-0 Live
P/L - 1/0
+$45

Took a heavy weekly resistance bounce with a pin hammer signal later at midnight for +1pt on MES. Fun trade.

See you Friday.

Attached Thumbnails
Click image for larger version

Name:	01-14-2021 2-0 sim 1-0 live range.png
Views:	22
Size:	29.0 KB
ID:	308168  
Reply With Quote
 
(login for full post details)
  #32 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Friday, January 15th, 2021 update:

In and out today - my NT install got messed up, and I have to do a clean reset. Large downtrend formed the first leg, then uptrend correction, with a reversal for a second leg. Entered in and out manually for a 1pt scalp on a LH reversal.

01-15-2021 LH Manual Scalp 1-0


Stats:
1-0
P/L - 1/0
+$45

I will check out the charts again at the end of the day, on SIM of course. See you Monday.

Reply With Quote
 
(login for full post details)
  #33 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday, January 18th, 2021 - Wednesday, January 20th, 2021 update:

Great couple of days. Been consistently taking 1-2 small wins. That's all I need - scale up as necessary in due time. I've updated my charts and have streamlined the draw tools, etc.

Monday: MLK day. No setups - very low volume. Halted at noon.

Tuesday:

1. Prices closed below gann line on a strong downtrend, tried reversing and met resistance. With the strong bear bar I shorted for 1pt.

2. SIM: Small congestion, prices broke out on the top side, forming a trap. Shorted for +.5

3. SIM: Gann bounce with a big bullish bar. +1

4. Prices bounced at the gann, ended with a bearish bar with full body - too much exhausted momentum. However I did get in and exited at .5 because of aforementioned loss of momentum and EMA resistance. Would've netted the point but an early exit was justified.



Stats:
2-0 live, 2-0 SIM
P/L - 1.5/0 live, 1.5/0 SIM
+$67

Wednesday:

1. Strong uptrend today. Prices broke the bottom of the trend channel and resisted at the gann - confluence of a potential retest of channel line, gann bounce, and ema bounce, so I went long. Not too much room - 5 or 6 ticks to EMA led me to feel squeezed so I exited with +.5.

2. After the bar completed bullish, I went back in on what was a strong close off the gann and into the EMA - a tick into the channel line too. Prices failed on the next bar but the gann held strong and I was 1 tick away from the stop - prices went back up to test the channel but I was out at .5 because of all the congestion. Prices actually formed a nice 2el which helped me stay in the trade.

Both would have netted 1pt - but early exits aren't the end of the world. Came close to a loss - the natural resistance of the signal low helped me out.



Stats:
2-0
P/L - 1/0
+$41

Several days of green! Good work. See you tomorrow!

Reply With Quote
 
(login for full post details)
  #34 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Thursday, January 21st, 2021 + Friday, January 22nd, 2021 update:

Thursday was a loss day; I tried to catch a reversal after a strong downtrend - but I liked the trades I took. Made back some of the loss in two small wins after, for a net loss of ~$61.

1. Prices closed outside of the downtrend channel and a bullish hammer signal formed; bounce off of the trendline and EMA, and after a HL - thought I spotted a reversal! Prices gave me .75 and turned down. Stopped out, -2.25.

2. Prices closed back into the trend channel, and bounced off of the EMA to the downside. Bearish signal. 1pt.

3. Tested the upper day resistance, formed a trap and 2es, not really with signal but I entered based on the intrabar moves. TP at .25; realized what a dumb trade this was and I exited when I could. 1pt was later reached though.



Stats:
2-1
P/L - 1.25/2.25
-$61

Friday was great. 2-0 quickly reached on live, and I held strong for the full point.

1. Caught a reversal after prices closed out of the uptrend channel and started rejecting off the EMA. After a LH, a bearish signal bar bounced off EMA. Shorted for 1pt. Kind of congestive/unclear inside bull bar but I was convinced of a reversal.

2. Prices went back to the EMA and bounced. Once again a bad signal but the next bar wick closed lower. The second bar after entry closed very bearish; prices shot down to my scalp right after. Had the gann as good support and protection of my stop.

SIM Trades:

3. The next EMA bounce - shorted after a small bearish doji.

4. 2es after the last 1es trade. Risk of BOPB as we were exiting a range but the hammer signal was strong. +1.

5. Prices shot out of the range and closed above the gann after trapping shorts at the bottom end of the range. Bought the close and scalped out for .5. Risky sim trade. Stop was protected by gann though.

01-22-2021 2-0 Live


01-22-2021 3-0 SIM


Stats:
2-0 Live, 3-0 SIM
P/L - 2/0 Live, 2.5/0 SIM
+$91 Live

Having a loss day after a 6-0 day streak was inevitable; and I don't even think that trade was all that bad. It feels good that my risk management and drawdown seems to be lower these days. Although - I did break some rules by trying to make the money back. I should have just stopped - don't know the best way around that. Maybe accepting the risk of 2 losses is necessary if I ever want to make back an initial loss.

Going to keep at it; good setups - ema, 2e, gann.

See you Monday!

Reply With Quote
 
(login for full post details)
  #35 (permalink)
New York, NY
 
 
Posts: 40 since Nov 2020
Thanks: 2 given, 14 received

Monday+Tuesday, January 25+26, 2021 update:

Suffered big losses Monday - not following rules, overtrading, revenge trading. Drawdown was pretty significant

I was feeling rushed and pressured to trade and these were not good conditions for focused trading.

Back to 2-0 for Tuesday, but I will be consolidating my daily review for just myself for now - don't want to necessarily work it out in public.

Be back sometime,
pullback

Reply With Quote


futures io Trading Community Trading Journals > Trading PATs - ES + Currency Futures


Last Updated on January 26, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Finding Trading Opportunities Using Profile Charts w/Tradovate

Jan 28
 

Journal Challenge w/$1500 prizes from Topstep!

February
 

Battlestations!

March
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts