AJ's Journal - futures io
futures io



AJ's Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one tderrick with 487 posts (1,504 thanks)
    2. looks_two PandaWarrior with 57 posts (152 thanks)
    3. looks_3 Big Mike with 44 posts (125 thanks)
    4. looks_4 bobarian with 20 posts (47 thanks)
      Best Posters
    1. looks_one tderrick with 3.1 thanks per post
    2. looks_two Big Mike with 2.8 thanks per post
    3. looks_3 PandaWarrior with 2.7 thanks per post
    4. looks_4 bobarian with 2.4 thanks per post
    1. trending_up 92,905 views
    2. thumb_up 2,090 thanks given
    3. group 53 followers
    1. forum 736 posts
    2. attach_file 320 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 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
 

AJ's Journal

(login for full post details)
  #91 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


tderrick View Post
I have lost...

The tick charts
The Range chart
The Time and Sales
The DOM
The Volume Indicator

I am using a 5 min chart with a 20 and 50 EMA. I use self drawn lines of past proven SR along with OHLC lines.

I now have rules!!

I will enter a trade when PA crosses both MA's in an orderly manner after a pull back to establish true direction.
I will exit when a bar either closes across the 20 or penetrates it strongly.

I will be wary if the MA's are too tight to each other and the candles are barbwire and crazy looking. The best trends come from bars (Candles) that are tidy and clean looking.

I have sent a check off to my broker as punishment for trading without a plan, like I'm
Al Brooks or something. My account is back to it's orginal amount.

I now enter the hallowed halls of trading 002... Now where's my locker....

What are your rules for entry and exit and profit targets?

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Reply With Quote
The following 3 users say Thank You to PandaWarrior for this post:

Can you help answer these questions
from other members on futures io?
mahDualCandlePattern
NinjaTrader
Tips for directional bias during Asian Session?
Traders Hideout
value chart indicator by sim22
NinjaTrader
need help with easy language OR breakout code:)
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
44 thanks
How many day traders are profitable?
28 thanks
Why you should move from futures to forex
15 thanks
Attached Orders
13 thanks
fx "traders" hate real profitable traders
8 thanks
 
(login for full post details)
  #92 (permalink)
 sharky 
MIAMI,FL
 
Experience: Advanced
Platform: NinjaTrader
Broker: Private
Trading: Zn,6E,6J
 
sharky's Avatar
 
Posts: 1,060 since Jun 2009
Thanks: 624 given, 3,904 received

i like the steps you have taken so far we are making some progress but please dont ask me to make some trading rules for you as im not you so my rules can not fit your personality, next i would suggest if you use a 5 min then also look at a 15 or 30 min to see what price is really doing but trade on your 5 min chart,then i would take another look at what ma are you using make sure its the ma your comfortable with,im not saying the 2 you have are wrong im just saying experiment alittle,then i would maybe look at a 15 wma to use for exits,play with these ideas and keep posting ill keep reading...sharky

KILLING THE MARKETS DAILY
Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to sharky for this post:
 
(login for full post details)
  #93 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received



sharky View Post
i like the steps you have taken so far we are making some progress but please dont ask me to make some trading rules for you as im not you so my rules can not fit your personality, next i would suggest if you use a 5 min then also look at a 15 or 30 min to see what price is really doing but trade on your 5 min chart,then i would take another look at what ma are you using make sure its the ma your comfortable with,im not saying the 2 you have are wrong im just saying experiment alittle,then i would maybe look at a 15 wma to use for exits,play with these ideas and keep posting ill keep reading...sharky

Thanks, Sharky... sorry I wasn't asking for you to give me rules I just wasn't quite sure what rules actually are....

But I just scrolled through a few weeks of 5 minute bars and I like the way price moves around these two MA's... I will
try yours of course.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to tderrick for this post:
 
(login for full post details)
  #94 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received


aztrader9 View Post
What are your rules for entry and exit and profit targets?

I enter after I establish a continuation of price though the MA's. Usually after a pullback. I am looking to enter a trade
and stay in for a longer period, so entry is not critical except for getting in on a true trend.

I will exit when price moves through the 20ema, as most times this ends the trend. If it happens quickly, it
seems to end up in a close to BE condition.

I am testing now.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to tderrick for this post:
 
(login for full post details)
  #95 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


tderrick View Post
I enter after I establish a continuation of price though the MA's. Usually after a pullback. I am looking to enter a trade
and stay in for a longer period, so entry is not critical except for getting in on a true trend.

I will exit when price moves through the 20ema, as most times this ends the trend. If it happens quickly, it
seems to end up in a close to BE condition.

I am testing now.

what about profit targets. Are you looking for specific destinations that hopefully are hit prior to the 20EMA being hit? Just asking about specifics as I think getting out at the 20EMA is fine for trades that have not hit a predefined target...its like a safety valve so to speak, if the target is not hit, then this is the exit. Otherwise, stay in the trade until the target is hit.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Reply With Quote
The following 2 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #96 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received


aztrader9 View Post
what about profit targets. Are you looking for specific destinations that hopefully are hit prior to the 20EMA being hit? Just asking about specifics as I think getting out at the 20EMA is fine for trades that have not hit a predefined target...its like a safety valve so to speak, if the target is not hit, then this is the exit. Otherwise, stay in the trade until the target is hit.

Thanks for the help, AZ...

My thinking is this (flawed I'm sure)

I'm thinking about letting the price action dictate my target . No set numerical number.

Lets say price moves through my MA's and is heading towards proven S/R I will keep my eye on that
level. So if price moves beyond one of
these and fails. I will take take profit as it falls back through. If it doesn't even make it to the S/R level I am
probably in a sideways channel and will wait for it to come back and either bounce off the 20 (I will stay in)
Or It will crush through and I will bail.


I know this is leaving quite a bit of human interaction , but at least I have
SOME parameters now.

Back testing now.... We'll see.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to tderrick for this post:
 
(login for full post details)
  #97 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,182 since Jun 2009
Thanks: 32,680 given, 99,536 received


tderrick View Post
No need to post my charts. It looks like machine gun fire all the way up the trend line.

A lot of traders put a huge amount of emphasis on a really small stop to minimize the pain. So they end up taking 10 stops in a row of 3 ticks, instead of correctly setting one initial stop of say 24 ticks in the first place, which probably would not have ever been hit if the trade worked in your favor.

"Machine gun fire" (to me) = lots of trades in rapid succession, usually small stops or reversals due to uncertainty.

This is an account killer.

When you decide to enter a trade, identify an area on your chart (price) where you can say "if price goes down to this level, then I am wrong about this trade and should get out".

You should know your exact stop and target areas before you ever put on the trade. Sure you can 'manage the trade' some once you are in, but you should already have an excellent idea and a very clear picture of what your target looks like and what your stop looks like.

In general, for most traders, you also need to make sure your target is bigger than your stop (positive risk/reward ratio). If the trade requires a big stop and yet has a small target, it is likely better to pass on the trade, or at least wait until price comes to you so you can minimize your risk.

Since you can never predict what price will do next, the best thing you can do for each trade is to set yourself up for success. Position yourself so you have a good chance to come out ahead over a large sample size, say 50 or 100 trades. You can't win them all so don't let one individual trade disrupt the entire series of trades or the plan.

If you have a "mediocre" entry, and a good stop and target, you'll likely have positive expectancy. Just give it a chance to work in your favor. Patience is not only a virtue in trading, it is a necessity.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #98 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,182 since Jun 2009
Thanks: 32,680 given, 99,536 received


tderrick View Post

No need to post my charts. It looks like machine gun fire all the way up the trend line.

BTW, I encourage you to post your chart. It will motivate you to not repeat the same mistakes in the future, because you want to always be honest with your journal.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #99 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received


Big Mike View Post
BTW, I encourage you to post your chart. It will motivate you to not repeat the same mistakes in the future, because you want to always be honest with your journal.

Mike


You'll never see another chart like this from me.

Great experience in psycho trading. I kind of went out of my body ; )

The next one will win.... the next one..... the.....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
Click image for larger version

Name:	Carnage.jpg
Views:	184
Size:	73.6 KB
ID:	28948  
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to tderrick for this post:
 
(login for full post details)
  #100 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received



Big Mike View Post
A lot of traders put a huge amount of emphasis on a really small stop to minimize the pain. So they end up taking 10 stops in a row of 3 ticks, instead of correctly setting one initial stop of say 24 ticks in the first place, which probably would not have ever been hit if the trade worked in your favor.

You should know your exact stop and target areas before you ever put on the trade. Sure you can 'manage the trade' some once you are in, but you should already have an excellent idea and a very clear picture of what your target looks like and what your stop looks like.


Mike


Mike,

Say a trade goes in your favor for 50 ticks. Would you let it go all the way back to your 24 tick stop
before you realized the trade was going against you?

I'm having a hard time figuring out when to get out if the trade isn't going to meet my profit area.

I fell like I need to at least save a couple of ticks and Break even.

On one of my last trades of the hell session, I did let it go all the way back to my 20 tick stop just prove to myself I could stay in a trade all the way.

But I new in half that time the trade was doomed. Of coarse, I was about half nuts by then ; )


Thanks, as always....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to tderrick for this post:


futures io Trading Community Trading Journals > AJ's Journal


Last Updated on June 7, 2015


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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