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AJ's Journal

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  #141 (permalink)
 Big Mike 
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AJ, good job with the journal - keep it up.

If you haven't already, check out this thread - you could win an iPad for your journal:


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  #142 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
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Just finished my first replay week a little better than I thought... up $230

I feel my basic approach is solid, but I need a few more plays in the playbook. Glad I'm not back to live trading
yet, because I am really enjoying these studies. The next time around I should really have my emotions under
control, because I will have a good game plan.

Trade 1... I was eying a Jinhar golden "A" setup just at the open, but I'm a bit nervous of trading so soon.
The TF doesn't seem to be as wild as the other indexes at the open, however, so I may shelf
that rule. I waited for my typical break past resistance but this time it failed, coming back hard.
I bailed before I took a full stop.

The trade went on as expected, but was simply too volatile for me. My stop was properly located
below the swing low, But it would have easily hammered me.

Perhaps this was a combination of low volume, being a Friday and the PA was in pretty tight
range for two days. I felt good about the trade, however. -14 ticks

Trade 2... Caught the bounce retest and the trade acted as expected once it broke through the high
established by early attempt on my first trade. +10 ticks


Trade 3 .... Looking for one more test of the high but PA was stalling and volume was dropping. bailed ...
-2 ticks



I will be a bit more wary of Fridays from now on.....

All in all, I'm progressing well. A few more weeks of screen time on the TF and if I can remain in the green, I
will go live again.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #143 (permalink)
 tderrick 
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This is a replay of Monday the 14th.

Friday, as it turned out, had a huge run after I quit, so Fridays are back in the plan... (maybe a little
more wary of options Friday)


I was looking for pullback after the run on friday, but I didn't let that bias me.


Trade 1 - My favorite trade ... a break of resistance, out at the next level. +11 ticks

Trade 2 - You guessed it ... just one more level up... +8 ticks



two trades ... $178 ... out in 30 minutes.

close enough to profit target... I'm out.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #144 (permalink)
 PandaWarrior 
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tderrick View Post
two trades ... $178 ... out in 30 minutes.

close enough to profit target... I'm out.

Great job!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #145 (permalink)
 tderrick 
Nashville, Tennessee
 
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TF
821.5 open
2-15-11

Slight sell off overnight
8:30 - 2344 Volume

Slow, range bound PA with below normal volume...
Price was grinding up slowly, so it looked like I may be in a trade for a while if PA broke my Benchmark
- yesterdays close.

Trade 1

Volume 2000
Benchmark broken. Stop placed below swing low. Strapped in for a long ride. I knew this was going to be a battle
so there was a good chance of a full stop hit.
and so it was -17 ticks... it's cool. the plan was solid... just a bit more of a gamble with the low volume.
Poor RR strategy on this one


Trade 2

Volume 3000
The failed break out long led to a sell off (which should be my trading method on days like this- playing failures)

Price broke my benchmark of yesterdays open. Took some serious heat, but knew I had to stay in. + 11 ticks

Trade 3

Volume 1300
Tried a range bound bounce trade (inside) that stalled. I let it battle well and took some good heat
but the stop was well placed and I let it work until after 25 minutes it seemed futile ... +2 ticks
(After an additional 30 minutes, this trade did go on to just below my target) I should have let it grind out.
I'll remember next time that these are just grind out days and as long as price is making higher highs and
higher swing lows, I should just stay in. I've been looking a little at a 3 range chart for this. It seems a
good compromise, as the CL cats seem to like a 6 range.

A good experience day. I knew what I was getting into on all trades and none of the outcomes
surprised me. Emotions completely in check.

Down $40.... well worth the experience.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #146 (permalink)
 PandaWarrior 
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Hope you have a great one!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #147 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
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Broker: AMP / CQG
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Replay of 2-16-11

opening volume 3300 @ 822.5


I'm a little fuzzy after being in the studio all day but I have to get screen time whenever I can.

I'm starting to lean on the 3 range chart a bit more. It definitely makes it easier to see the swing high
and lows for better stop placement.

Trade 1

Went long on a break of prior resistance. Price stalled and I bailed for +4 ticks.


Trade 2

Same as above ... +4 ticks


Trade 3

A little better PA which let me trust the trade a bit more. I stayed in for a good +10 ticker.



Up $162


With the lower volume and the prior days ranging a bit, I just couldn't trust the trend that appears
obvious in hindsight on the 3 range chart. Probably a bit too tired.

Good day however...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #148 (permalink)
 tderrick 
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2-17-11 replay

825

Range bound over night and all week for that matter.

Moderate opening volume of 3000

Trade 1

A bit more aggressive than usual. Price appeared to be moving up slowly. So I went long on
break of the previous day close but BELOW the channel high - Trusting that when TF starts
moving it usually keeps moving until it hits a significant resistance level. Goal was Previous day
high. Price appeared to stall so on the third failed swing up on the 4 range, I bailed.

+3 ticks



Trade 2


Of course, seconds after I bailed on trade one, the channel high was broken, so In I go again
with the same target in mind.

It is so difficult to determine when to bail or not. However, PA was fairly choppy so I think my
jumpiness was warranted.

Target hit +7 ticks

One trade left... waiting for the chop to break...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #149 (permalink)
 tderrick 
Nashville, Tennessee
 
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Broker: AMP / CQG
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Trade 3

My favorite trade. Price had been consolidating below this resistance for half an hour.
I knew it was ready to go after another failed sell off.

I had no prior day resistance lines available so I was "flying Blind" with my method, so I just tossed
a random target of ten ticks out there. I was confident price would at least achieve this.

I just wanted enough to reach my profit target.


+10 ticks


$182 including commissions. close enough ... Done in an hour, 15 minutes.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #150 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
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Posts: 1,588 since Sep 2010
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I modified my 3 range chart to 4 range to slow it down a bit...

I love it, along with my normal 5 and 15 minute charts. It really helps in seeing the swing low and highs for
stop placement.


... as you were.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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