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AJ's Journal
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AJ's Journal

  #191 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Great job AJ!

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  #192 (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 Sunday Reflection

Good things have happened during the last week.



I'm staying in trades all the way to the target. (Even beyond one, to the next target)

I started seeing setups more clearly.

I am integrating the pullback trade, along with the breakout trade, nicely.

I will have a weekly profit record if I can just break even on my Friday trading.
( there is one day left on my "Replay Week")

I have made my charts as simple as I feel comfortable with. I like an uncluttered chart.
The only thing that matters to me now is how PA reacts around SR levels derived from
looking left on 4 Range, 5 Minute and 15 Minute charts. SR levels are hand drawn so
I can get a feel of the last few days of trading.

I also like the prior day OHLC levels.

I like keeping it simple, simple, simple. I don't want to be looking at anything else except
the way price is reacting as it approaches SR. I am looking for stop and target areas, not
a sea of indys. If it is anywhere near 1:2 RR, I'm in...

I have very few rules and they mostly pertain to chop.

Nothing is cluttering my mind when it's trigger time...


AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; March 20th, 2011 at 11:39 PM. Reason: typo
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  #193 (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

3-11-11


3-11-11 Friday Price 794

This is the first time I have seen Price in the 700's in my brief experience with the TF so I had
no reference for lower SR lines if price broke down. I would have been forced to trade the
pullbacks.

The Prior day trading was a big sell off early, followed by an entire day of chop.
The Globex session found the bears fully in control with more selling.
A rebound finally occurred at about 530am cdt and it looked like a good bounce was
generating.

Trade 1

I was a bit worried at the open with a couple of even, up and then down, 5 minute bars.
The third 5 minute bar started moving well, however and I started looking for my entry
and exit points.

Buy stop set 2 ticks above the Prior day low / SR line confluence.
I was Filled and price stalled quickly at 5 ticks. I was tempted to cash out, but I held on to at
least the next SR level, which was the Prior day close on the 5 min.

+ 10 ticks

I bailed earlier than I prefer, but I think with the choppy nature of PA I was justified in this
early exit. I can alway re-enter on a pullback or continuation.

I just got done with a long day in the studio, so I'm going to see if I can make my daily goal
by finishing up in the morning. Replay paused at 837 am.

see you in the morning... I hope everyone had a great day!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-3-11-11_4_range.png   AJ's Journal-3-11-11_5_min.png  

Last edited by tderrick; March 22nd, 2011 at 08:41 AM. Reason: typo
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  #194 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
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tderrick View Post
3-11-11 Friday Price 794

This is the first time I have seen Price in the 700's in my brief experience with the TF so I had
no reference for lower SR lines if price broke down. I would have been forced to trade the
pullbacks.

The Prior day trading was a big sell off early, followed by an entire day of chop.
The Globex session found the bears fully in control with more selling.
A rebound finally occurred at about 530am cdt and it looked like a good bounce was
generating.

Trade 1

I was a bit worried at the open with a couple of even, up and then down, 5 minute bars.
The third 5 minute bar started moving well, however and I started looking for my entry
and exit points.

Buy stop set 2 ticks above the Prior day low / SR line confluence.
I was Filled and price stalled quickly at 5 ticks. I was tempted to cash out, but I held on to at
least the next SR level, which was the Prior day close on the 5 min.

+ 10 ticks

I bailed earlier than I prefer, but I think with the choppy nature of PA is was justified in this
early exit. I can alway re-enter on a pullback or continuation.

I just got done with a long day in the studio, so I'm going to see if I can make my daily goal
by finishing up in the morning. Replay paused at 837 am.

see you in the morning... I hope everyone had a great day!!

Dang, that was pretty daring. I don't think I could have taken that trade with that huge green candle underneath me. I don't trade TF but it seemed to me, the entry was way down below, perhaps you were not around for that but I'm glad it worked. For me, I think I would have waited for price to break the resistance, find a nice pull back and trade that long.

The outside candle just prior to the big green one would be a nice signal long. It had just take out the longs and then the big green candle took out the shorts to the long side. Great break out trade as it broke the high of the previous green candle.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #195 (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


aztrader9 View Post
Dang, that was pretty daring. I don't think I could have taken that trade with that huge green candle underneath me. I don't trade TF but it seemed to me, the entry was way down below, perhaps you were not around for that but I'm glad it worked. For me, I think I would have waited for price to break the resistance, find a nice pull back and trade that long.

The outside candle just prior to the big green one would be a nice signal long. It had just take out the longs and then the big green candle took out the shorts to the long side. Great break out trade as it broke the high of the previous green candle.


Thanks for the input, AZ!

I'm not familiar with trading the 5min bars themselves yet. However, I think that would be a good
strategy to add to my playbook. That would make three, when added to my breakout and pullback
strategies.

The way I look at PA at this point, is to look at the bars between one area of SR. So, when I first look at a chart
those are my first parameters. Anything that stays in this area, I consider chop. So, when I begin, I need something to PROVE to me price is moving. This is a break
of either SR line. When it's choppy, I wait for a PB. If its moving well, like the trade discussed,
I have enough time to place the buy / sell stop just above the SR line.

This is just a method I've stumbled across that wins the most for me. After a few more weeks of
gathering data on these first two methods, I may be ready to start trading inside / outside 5min
bars. I'm making a point of moving as slowly as I can this time around.

I also think this makes me wait a bit more for entries. If I started trading inside the areas of SR, I
think I would get into some over trading problems. I usually already use my three bullets within an
hour as it is. Ha!! lol

Nothing like a 50% drawdown to change your way of thinking

As always, AZ, your input is greatly appreciated!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #196 (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

Landmark

Well, I went to finish my Friday trading, when I noticed something in my hand written log.

I hit my weekly total!! .... first time ever.

Weekly total $1,082.

So, I shut down my "Live Trading" and will run the rest of the Friday morning replay for data collection
and test trades.

My first week into my second month of testing the TF is going well. The method is stupidly simple
and appears solid - perfect.

I mentioned above, my hand written log. It started as just a legal pad to keep notes as I was trading
for later entry into my journal, but it's grown into something a bit more.
There is nothing like the physical writing of concepts and thoughts to burn them into the cortex.

I use this log, along with the futures.io (formerly BMT) journal to really pound home all the successes, and
most importantly, all the losses. I am doing this test to not only find good ways to win, but
also to find every conceivable way to lose. I also keep a more technical spread sheet for all
the data. Between these three, I am really honing things down. I don't see any significant
changes to my chart at this point.

I only need two indicators on my chart. A couple of MA's and the SR lines in what ever form
they appear. My entry / exits are based solely on the interaction of PA as it contacts these levels.

If I finish out this replay month profitable again, I will be hitting the live account button on my days
off. No more live trading at work or when distracted by anything.

...and only If all, or at least most, of the the fear is suppressed by the confidence of knowing I will be truly ready this time around.


AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; March 22nd, 2011 at 09:49 AM. Reason: typo
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  #197 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,240 since Jun 2009
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Congrats AJ on the weekly goal and on the promotion.

Mike

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

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  #198 (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

Week 6

3-14-11 Monday , Price @ 794

Wednesday though Friday of last week saw steady selling.
The overnight Globex session was choppy if not absolutely chaotic. The 5min bars looked
like an old cardboard computer card.

Trade 1

Price started getting a little more in order toward the open.
The opening bell was lackluster for the first couple of minutes, then price started moving out
like it usually does. It looked like we were heading for my favorite setup again.

Two things hurt me on this trade. I know them well.

Bias of past PA and
Hesitation

The setup was clear. I have had most of my success so far with the exact same trade- buy / sell
stop 2 ticks above/ below SR. You can't "wait and see" with this trade. When price is closing
in well, and it breaks one of these levels, it almost always gathers some ticks.

The trade was a valid small target trade with the goal being the prior day open above the SR
line.

I closed out with +3 ticks, but slippage kicked my butt, with a -2 tick finish.

A storm is blowing in here, so I'm going to finish this up in a bit


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-3-14-11_trade1_4range.png   AJ's Journal-3-14-11_trade1_5min.png  
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  #199 (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


Big Mike View Post


Congrats AJ on the weekly goal and on the promotion.

Mike

Thanks, Mike! But, Johnny gets the props for the Promo...

I'll take the weekly goal juice, however !!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #200 (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

Winding up "Monday"


I'll remember this PA in the future. It's little spooky, but it can be managed.

Trade 2

I wasn't going to miss this break of SR!! lol I had a buy stop set as soon as it
broke the original entry SR.

Target hit

+19 with -1 for slippage.


Up $168 and I'm out.

It seems this was the day for the Pullback trade. I just can't quite pull the trigger on those yet.
I need a bit more screen time to determine which trade is best, but it seems fairly simple.

Choppy = PB trade
Good Movement = BO Trade

I have these rules in place. They just haven't become instinctual, yet.

Excellent lessons for 23 minutes of work

I had the guts really churning on these trades. I was channeling past live trading emotions well.
The only way to learn is have those "live" demons whispering in your ear to bail, bail.

I stayed in both trades pretty well. The execution of the second trade was much better, however.

all in all a good "Monday"


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-3-14-11_trade2_4r.png   AJ's Journal-3-14-11_trade2_5m.png  
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