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AJ's Journal

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  #151 (permalink)
 tderrick 
Nashville, Tennessee
 
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to read later.... From JohnnyCakes Journal...

http://tradewithprecision.com/files/MEASURE%20OF%20TRADING%20PERFORMANCE.pdf


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #152 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
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OK

The Second week testing the TF went well...


The replay today was of 2-18... Options Friday, I believe. (Third Friday?)


Price moved up pretty well the prior day, so the Globex and the open was pretty range bound. I
put on my small ball hat and got ready for trading on the "inside" of the range. I cut my normal
targets in half so I was in full scalp mode ... 5 tick targets

Trade 1

Several failures to sell below the prior day close lead me to believe there would be a test of the
channel high, which also was a confluence of the prior day high - perfect.
Price started consolidating at the top of the smaller range. More clues of a break long.
....entered one tick above the PA

+5 ticks


Trade 2


I thought price would bounce off the prior day high, but it looked like it was game for more.
Entered on a break of the larger channel. I Still wasn't trusting the PA much so I was still just
looking for 5 ticks

+7 ticks as I received some slippage in my favor. Price broke through my target well.



This is the first day I ran out of time before my 3 trades.

My plan is 3 trades - 830am to 1100am cdt



up $108


This weeks gains were $644

1 trade for a loss out of 14. ( It was a doosy full stopper -17 ticker)


I guess this method has developed into a scalping style, as my goal is only $200 a day to live on.
I don't really need to sit on a whole trend. If price is moving, I can usually be done inside an hour.

Seems too good to be true... I'll test out the rest of February and see if this method is indeed as
strong as it seems

Keep your fingers crossed. It's almost too simple.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #153 (permalink)
 tderrick 
Nashville, Tennessee
 
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This is testing of TF for the week of 2-21-11.


Monday was a Holiday so volume was very low, so after 30 minutes of mild action I called it.

Tuesday, as I loaded up my chart,I noticed there had been quite a sell off starting just after I closed out.
(of course) Volume never went much above 300 the whole time. Selling continued through the overnight.

I am expecting some big movement today, so I am gearing for normal targets / stops.


Trade 1


What a difference from last week!! Price is going nuts. I hadn't seen a 5 min bar like this signal
bar all of last week.

Entered short on a break of overnight support after price settled down a bit ( 5 minutes)

Was filled on a big push but stalled quickly. I wasn't going to mess around so close to the open, so I bailed
at 10 ticks.

+9 ticks with slippage


AJ
Nashville, Tennessee


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  #154 (permalink)
 tderrick 
Nashville, Tennessee
 
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Price swung back up hard. I had a decision to make on entry. The channel top was at a confluence of an
SR line and prior day low and close.

I usually would enter above this area if it were just one of the above, but 3 of them had me worried.
It looked like I could squeeze out a point between the channel top and resistance, so I placed my
buy stop and waited for price to come all the way up.

I put the buy stop 2 ticks above the channel for a little more insurance.

Price stalled just as it filled and I thought I was in trouble. As soon as price popped up, I manually exited
at 10 ticks, not knowing if this was a trend forming or not.

+ 8 ticks with slippage.


up $158 with one trade left. I'll have to look for my third trade later. I have to set up for a tracking
session.

PA is very different than last week. No time to wait - just in and out. Pure scalp

I haven't sat on a trend since this test began. I don't like that, but what I've stumbled upon seems
to be working

We shall see ...


AJ
Nashville, Tennessee


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  #155 (permalink)
 tderrick 
Nashville, Tennessee
 
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pA was looking to break past my confluence area. All I needed was 5 ticks to reach my
profit target, so I set up the entry to be real tight when it was filled.

It broke through and got my 5.

+5 ticks


Daily target of $200 met.


AJ
Nashville, Tennessee


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  #156 (permalink)
 tderrick 
Nashville, Tennessee
 
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Yes the trading God's heard me...

replay of 2-23-11, Wednesday

Selling the day before, and a slow rebound over night.
Morning trading brought on more selling

Good volume at the open

Trade 1

I was placed in a position I haven't been before this morning.
My favorite trade was forming right at the open so I was afraid to pull the trigger. The trade would have
worked (the sell break past yesterdays low) , however my fears were realized also. There was a pretty
strong pull back that happens at the open often.

It looked like the bears were making another run at it so I entered at the break of the previous low. Price
stalled and stopped me out. I tried a fixed stop and as what always happens to me
with non PA based stops, I was stopped out.


-10 ticks


Trade 2

A re-entry, as price seemed to be consolidating for a sell push.
I gave the fixed stop one more shot.

-12 ticks...
hmmm.


I will have my stops above PA from now on as fixed stops just don't
work for me. Even if it takes me out of my 2% risk goal, The stops must be in the correct position as PA
dictates.


Trade 3


I haven't been in this position before with the TF. Two losing trades in a row!! Well , I'm glad I
tested for a few more weeks. Emotions in check.

I gave this short one more try as PA would just not break high, but kept making lower lows.

...went short again at the break of the previous low. Got my scalp goal and got the heck out.


+12

No more trading to try and get the money back. I'm not ready for that yet. Just accept it as a
losing day and move on. (All I can think about is Sharky "I have losing trades, but not losing days")

But, I am no Sharky, sir..


No worries. Price was a little choppy but I think the true problem was poor entry and stop placement.

More trades ahead.

down $128


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #157 (permalink)
 PandaWarrior 
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tderrick View Post
Yes the trading God's heard me...

replay of 2-23-11, Wednesday

Selling the day before, and a slow rebound over night.
Morning trading brought on more selling

Good volume at the open

Trade 1

I was placed in a position I haven't been before this morning.
My favorite trade was forming right at the open so I was afraid to pull the trigger. The trade would have
worked (the sell break past yesterdays low) , however my fears were realized also. There was a pretty
strong pull back that happens at the open often.

It looked like the bears were making another run at it so I entered at the break of the previous low. Price
stalled and stopped me out. I tried a fixed stop and as what always happens to me
with non PA based stops, I was stopped out.


-10 ticks


Trade 2

A re-entry, as price seemed to be consolidating for a sell push.
I gave the fixed stop one more shot.

-12 ticks...
hmmm.


I will have my stops above PA from now on as fixed stops just don't
work for me. Even if it takes me out of my 2% risk goal, The stops must be in the correct position as PA
dictates.


Trade 3


I haven't been in this position before with the TF. Two losing trades in a row!! Well , I'm glad I
tested for a few more weeks. Emotions in check.

I gave this short one more try as PA would just not break high, but kept making lower lows.

...went short again at the break of the previous low. Got my scalp goal and got the heck out.


+12

No more trading to try and get the money back. I'm not ready for that yet. Just accept it as a
losing day and move on. (All I can think about is Sharky "I have losing trades, but not losing days")

But, I am no Sharky, sir..


No worries. Price was a little choppy but I think the true problem was poor entry and stop placement.

More trades ahead.

down $128

These days happen, don't let em get you down.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #158 (permalink)
 JohnnyAustin 
Austin, TX
 
Experience: Intermediate
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I think your 5 min charts are a hindrance to your trading, to be honest. There is ALOT that happens within the space of 5 minutes that you just can't see. I think the 5 minute charts are great for spotting trends, chop, and basic market movement. However, identifying where to get into a trade is easier for me on a 1-2 min chart. Typically, I bounce between the 1,2,3, and 5 min chart to get an understanding of market movement, but place all of my trades on either the 1 min or 2 min chart. Just some food for thought. There has been alot of movement out there recently and not all of it can be seen on such a long time frame.

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  #159 (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
Thanks: 4,260 given, 2,530 received


johnnycakes78704 View Post
I think your 5 min charts are a hindrance to your trading, to be honest. There is ALOT that happens within the space of 5 minutes that you just can't see. I think the 5 minute charts are great for spotting trends, chop, and basic market movement. However, identifying where to get into a trade is easier for me on a 1-2 min chart. Typically, I bounce between the 1,2,3, and 5 min chart to get an understanding of market movement, but place all of my trades on either the 1 min or 2 min chart. Just some food for thought. There has been alot of movement out there recently and not all of it can be seen on such a long time frame.


I actually have been following along with a 4 range chart lately, because I was feeling the same thing. I have used a 3 min. in the past. I may compare that to the range chart and see which one I like better.

1 and 2 min. are a little nervous for me.

You are correct in your assessment. thanks..



AJ
Nashville, Tennessee


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  #160 (permalink)
 tderrick 
Nashville, Tennessee
 
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Thanks: 4,260 given, 2,530 received


Replay of 2-24-11 TF

Big sell off on the prior day

Overnight mixed

Open starts with good volume at 5719


Trade 1

Price attempted to sell again but bounced off a confluence of MA and support line.

entered on break of overnight high

+9 ticks.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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