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AJ's Journal
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AJ's Journal

  #161 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

The rest

trade2

Looking for the classic bounce off prior resistance, now becoming support. Worked like a dream.

I tried a trailing stop on this one and it was a bit too tight I think. Loosened up the strategy
for more of a BE bit at 10 ticks, then follow.

+3 ticks


Trade 3

I was tempted to place a buy stop at the top of the channel and exit at the resistance line, but
I didn't like the RR there, so I waited for the bounce off that and waited for a break of that level.

It worked well. Good thinking on that one.

+9 ticks.

close enough to Profit target to be pleased.

The trades are shown on my 4 range chart that I use along with my 5 min. and 15 min.

I like it.

I also added a 20 ema back to the range chart. I have always liked seeing the divergence
between a 20 and a 50.

a good day with good thinking... out in 40 minutes. about as well as my plan can work...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #162 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

uhh... the chart

oops


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-all_trades_2-24-11_range_chart.png  
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  #163 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Last Day of Third Testing Week of TF


2-25-11 TF

Prior day had a large 20 point range of up, down then up again.

The overnight brought on a nice gradual buying trend.

Decent volume at open with 3950 at 807


Trade 1

Price had pulled back a bit pre-market and was calm at the open, so I was OK on an early entry.
Entry on break of resistance.

Exit on break of next level.

Long +13 ticks


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-2-25-11_trade_1.png  
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  #164 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

The Rest

Trade 2


Price seemed to be consolidating, so I placed a buy stop above PA looking for a continuation
of buying. I felt a bit uneasy about entry just above a stall and my concerns were realized.

-13 ticks

If I do take this type of trade again, I will bail quickly if price does not break free well. Probably best to
just avoid this trade. The method works better if price is moving to my entry points.

chalk one up for learning.



Trade 3


Price tried to break low but just channeled in a 2 point range so I was prepared to enter in either
direction.

Price started moving up well and I kept a close eye as it moved past the lower, smaller channel.

Buy stop placed just above the prior push high.

exit after passing new resistance area.

+16


Up $152 for the day. out in 35 minutes


Up $396 for the week for a third profitable week in a row for a total $1270...

This is the first instrument I have been this consistent with. Let's get a month of screen time under the
belt, then we'll see how I feel about going live again.

I feel good about it...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-2-25-11_all_trades.png  

Last edited by tderrick; March 9th, 2011 at 04:58 AM. Reason: typo
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  #165 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
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Posts: 1,589 since Sep 2010
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update

btw... I'm enjoying the 4 range along with the 5 minute chart. I haven't been using my 15 minute as much
lately, but I look at it before I begin, to get an overall feel of the prior day and the overnight PA.

... that will be all.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #166 (permalink)
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In the heat
 
Futures Experience: None
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Posts: 3,155 since Mar 2010
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tderrick View Post
Trade 2


Price seemed to be consolidating, so I placed a buy stop above PA looking for a continuation
of buying. I felt a bit uneasy about entry just above a stall and my concerns were realized.

-13 ticks

If I do take this type of trade again, I will bail quickly if price does not break free well. Probably best to
just avoid this trade. The method works better if price is moving to my entry points.

chalk one up for learning.



Trade 3


Price tried to break low but just channeled in a 2 point range so I was prepared to enter in either
direction.

Price started moving up well and I kept a close eye as it moved past the lower, smaller channel.

Buy stop placed just above the prior push high.

exit after passing new resistance area.

+16


Up $152 for the day. out in 35 minutes


Up $396 for the week for a third profitable week in a row for a total $1270...

This is the first instrument I have been this consistent with. Let's get a month of screen time under the
belt I'll we'll see how I feel about going live again.

I feel good about it...

Good job buddy...

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #167 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Fourth Week - TF Test

Replay of the week of 2-28-11 TF

This is the second time that I noticed a nice trend on a Friday afternoon as I prepared my
SR levels for Monday trading. I'm always long gone before these trends develop. Something to
keep in mind.

20 point move between Friday and the Globex overnight.

good volume at the open ... 4725 at 826 price.

PA moved up strong again at 5:30 am and started "bleeding down" at 7am.

Price was moving slowly, so I was ready to sit and wait for the market to decide what it was going to do.
No bias. just waiting.

A bullish move started up at 8:38, but It was moving out of tight consolidation, so I wasn't biting.
I decided to wait and see how PA behaved at the next resistance level.

Sure enough, price turned bearish (before the SR line) I good lesson I remembered from last week.

Price started moving south so I placed a sell stop below the previous swing low. After Price stalled
a bit, I removed it as I was closing on 9am and didn't want to get whip sawed by a potential news
release. ( although TF is pretty good about such things)

9am - no news swing ... price still consolidating


913am- price finally broke support on the third try. Normally I would have a sell stop placed here
but I am just watching... sure enough- a strong bullish PB after the break... I may enter on a
continuation. (Screen Time has saved two bad trades so far)

sure enough ... a triple bottom. Let's see if the bulls win out.

I'm going to pack up and finish this replay at the house.. This is going to be an interesting trading
day.

Will be back in a bit.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #168 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Not Quite Patient Enough

Well, this is about the slowest PA I have ever dealt with... I was patient all the way until the end.



Trade 1

I was watching price slowly crush down and it finally broke through a level I trusted. I probably bailed
too quickly as I just couldn't trust the action.

+7 ticks


Trade 2

... looking for a continuation of the selling as it broke through the previous swing low.

Full stop of -15 ticks

Interesting observation... I seem to be more patient when price is going against me than when I'm
in the money!! I better reverse that thinking quickly.

Trade 3

....attempted a long, thinking it was a bounce. This trade is not in my playbook and simply should not
have been taken...

Full stop -15 ticks.

down $258 for the day.

Good experience. I was patient for the most part and stayed out of two early losers when I didn't feel
good about them. Last Monday, when PA was this slow starting out, I simply didn't trade.
I'll remember this. I was tempted to call it after the first winner. I should have. Next time... I will wait
for the perfect setup, as I did, take the profits and call it a day.

Slow day = One good trade.

The first trade was my favorite trade and I know those usually go to the next level. I must learn to stay in those.

I lost a little focus on the last trade. I think I had a little SIM courage on that one.

Most likely a trade I wouldn't have taken live. That slow PA is numbing....

Mostly a good day, I think.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
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  #169 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Another Thought

Man... I am so enjoying the knowledge I am gathering with all the Replay screen time.

It is painfully obvious that I went live far too early. I was simply at a huge disadvantage with the lack
of experience...

This is great.... !!!


I'll be like Joe Montana when I go back to live. There won't be a single blitz package I won't be
able to pick up!!!! lol


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #170 (permalink)
Site Administrator
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What speed are you replaying at?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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