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AJ's Journal
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AJ's Journal

  #281 (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

7-14-11

Prior day trading had a nice run up at 9:00am cdt, peaking at 1030am and slowly moved down
from there until 200pm, when there was a strong sell off. Another strong move occurred
at 400pm.
Price was sideways range bound until a move up occurred at 1am and was steady until
selling came in at 4am. Selling continued until 5am, when I picked up the Replay...

I have moved my target and BE +1 levels down by 1 tick to 14 and 9, respectively.
Price targets will now be $280, with a stop loss of $180

The overall goal is still to make an average of $200 a day. Enough for me to live comfortably.
When I am consistent with this, I will add a contract and be a rich man.


Trade 1

PB entry on a nice down trend.
I was expecting a bigger bounce off the VWAP,
but went short when it failed.
+14 , target hit.

The sun is just about up and I need to go out and cut some pastures. I will
resume this days trading in the heat of the day.
I have a few days off, so I need to catch up on some farm chores....



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #282 (permalink)
Site Administrator
Manta, Ecuador
 
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One of the worst things you can do is trade with rent money, or trade with money you really can't afford to lose. So do yourself a HUGE favor and just have patience to build your trading account over time so that the money in the account is not money you need for expenses.

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  #283 (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



Big Mike View Post
One of the worst things you can do is trade with rent money, or trade with money you really can't afford to lose. So do yourself a HUGE favor and just have patience to build your trading account over time so that the money in the account is not money you need for expenses.

It may take a while, it may test your patience, but you will be far better off for it.

Mike



Of coarse, you are correct, Mike.

I thought I could save a little finance time by combining my emergency fund with the trading account. Nothing
serious had happened in years to demand a major payout. But this year, it all caught up with me.

I have separated the trading account from the emergency fund account and will proceed from there.

The fear of loss of money is 99% of the pressure of this game, and it will probably always be in the back of my mind.
I mean, unless you have your credit cards and mortgage paid off, can anyone truly justify trading money?

So, I suppose, It's just the degree of irresponsibility you are willing to commit to.

...just the thoughts of a journeyman.

I do appreciate your concern, Mike. I know you are sincere...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #284 (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

7-14-11 Cont.

Trade 2

Caught a good rebound in a consolidation area for a hybrid PB / BO entry.
I'm still working on the optimum single car ATM.

+20 new target hit.



This was the first day, this trading week, that I hit my daily target.
Up $328 for the day.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-7-14-11_cont.png  
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  #285 (permalink)
Elite Member
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Futures Experience: Intermediate
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

7-15-11

Prior day saw a large, quick sell off starting at 930am cdt.
A small bounce occurred at 1230pm followed by narrow consolidation
that lasted all through the overnight.
Replay picked up at 515am .

Trade 1

Saw a PB entry on a trend that was finally forming after
an entire Globex session of pure sideways PA.

+15 Target Hit



I'm back to my original Risk Management. It seems to work best
with what I do. Just a slight change up in the ATM.

Trade..... Target, 15 ticks to start.
Stop, 10 Ticks to start, with adjustments to PA. No more than 15 ticks - 1:1
BE -5 at +8 ticks, SL of 9 ticks at +10 with a step frequency of 4
Target will be moved to closest S/R level, if PA is pleasing.

Daily ..... Target $300
Stop $200

Trading .... 3 full trades, along with 3 BE +1 attempts, 1 Contract



Trade 2

I waited until the open for my next entry. (I'm leaning toward trading
RTH, for the most part.)

The open was calm, so I placed a Buy Stop in the normal
location and was filled quickly.
A little risky in this PA
BE +1


I have to take a break and finish this up in a bit...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-7-15-11.png  
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  #286 (permalink)
Elite Member
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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

7-15-11 cont

Trade 3

The PA was driving me nuts. I'm very impatient when it comes to choppy madness
like this. As I have a tendency to do, I attempted to predict an outcome.
-6 on a failed BO short

Trade 4

PA started looking a little more familiar to me. I timed a BO
Long pretty well

+15 and target hit.


That gets me out per my plan with 3 full trades and 1 BE+1
up $236 for the day

This concludes my first week back from my depressive hiatus.
The weekly target was hit.
...up $1,126


I'm Feeling good about things again. What a crazy journey this is going to be. I will stick it out.

I'm starting to dabble in a little swing trading the EUR/USD spot market again. Small positions
with large stops and larger targets. I'm using daily and hourly charts for this on Oanda.


...getting ready to load up another weeks worth of data

Thanks to all for the help and support. This site is the best.
I feel quite at home...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #287 (permalink)
Elite Member
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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

7-18-11 Replay

The prior day was range bound and choppy until about 1230pm cdt when a nice abc pattern
occurred starting to the down side and then bounced up nicely at a prior day support
level. Bullish run happened at 130pm. Globex session saw a strong sell off at 7pm Sunday
evening consolidating at 10pm and lasting until I started at 5am Monday the 18th.

Trade 1

PA was a bit dicey, so I put on my small ball hat and tightened up the
targets a bit. I'm not afraid of leaving some cash on the table in these
conditions.

BO entry long after a failed break low by PA.

+10 target hit

I have set up an additional ATM strategy for more range bound, choppy
PA with smaller targets in mind. The original trending ATM remains.



Trade 2

Nice BO entry just after the open when I saw that it was calm
and the pressure was on just at an S/R level

+15 target hit ... I switched back to the normal trending ATM for RTH


Trade 3

I Just needed a few more ticks to get the daily goal, so
I waited until there was pressure at another SR level
And entered at the break of the SR line. Exit was after the
achievement of the required ticks

+6
Close enough to Daily goal to quit.
Up $292

Man, I wish they all went like that!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-7-18-11.png   AJ's Journal-7-18-11_cont.png  
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  #288 (permalink)
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Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

7-19-11 Replay

The Prior day saw selling right off the bat and I was able to make my
daily goal easily. The run was over by 11am cdt and a slow steady climb
back up started. There was another sell off at midnight and ended at
1am,when the bulls took over once again.


Trade 1

I picked up trading at 530 am and found a good uptrend in the works.
Volume was light, but acceptable.
PA was about to retest a high posted at 4am.
Entry was in the PB manner.
Small target mode was engaged for ETH

+10
Target Hit


Trade 2

Great pressure was building just before the open.
After making sure PA was fairly calm at the bell
I placed a Buy stop at a logical local.

+15
Target hit almost instantly
I love those!!


Trade 3

I set up my small ball ATM so I could gather the last few remaining ticks
for my daily goal
Entry was on the PB of a strong move up. I knew there would be a test
of the high.

+10
Target hit


Up $332 exceeding the daily goal!!

Back to back days of trading very well.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-7-19-11.png   AJ's Journal-7-19-11_cont.png  

Last edited by tderrick; August 8th, 2011 at 07:27 PM. Reason: content
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  #289 (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

7-20-11 Replay

Prior Day saw a break long at the open, then quickly stalling and
bleeding back to the 50% point. Another rally occurred at 1230pm
settling in to consolidation at 2pm. Pure sideways PA was the game
the rest of the day and overnight. A slight bullish run happened at
4am, then I picked up trading at 530am

Trade 1

A reversal entry against the trend
The setup was good, just not enough juice to push me to
the small ball target. Price stopped at +7 ticks twice
just at a previous consolidation area. I was a bit greedy
in thinking price could push through this area, especially
counter trend. Next time, I will take the cash.

BE+1


Trade 2

The selling started hard just before the bell. The open
saw a strong sell off.
After waiting for a 5 min. PB bar to development, I placed
a Sell Stop just below the swing low.
I was filled quickly and price was moving, so I lowered
the target to a SR average of all charts.

+21
Target hit.


Trades 3 and 4

I tightened up my targets, to try some
re-entrys on the retest of the swing low using
Pull Backs.

+10 and +12

Daily target crushed.
Up $422


Sometimes the TF moves so well !!
You must act quickly, however.
I just dive in with tight targets and tighter stops.

Now,if I could only get this account funded again!!
The market studies are going well.

I am also enjoying some profits in my swing trading of the Euro trading the
micro... It's cool to hold a trade for days instead of minutes...

Learn.... learn.... learn....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-7-20-11.png   AJ's Journal-7-20-11_cont.png  
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  #290 (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

7-21-11 Replay


After the initial sell off at the bell, yesterday, Price became range bound with a
mild lift at noon only to lose it again at the start of the Globex session.
Another big sell off occurred at the London open ending in consolidation at 430.
I picked up trading at 530am

Trade 1


Dared to fade a selling trend. I was ahead of my indicators on
this one. But I just felt like it was ready to bounce.
I put on my ETH small ball hat and placed a Buy Stop
just above the consolidation.
Price stalled just before my 10 tick target, so I pulled the
Close trigger. I won't be greedy over one tick. Of course, price
moved on further!! Ha!! never fails.....

+9



Trade 2

I was tempted to take a PB entry, but was a bit
unsure of PA, so I waited for a confirmation.
Price stalled again after I was filled and
got to BE+1, But I sat on my hands this time.
I used some Fib retracements on the bounce.

+10 target hit.



Trade 3

Thought I could squeeze a few more ticks long
BE+1



Trade 4


I know better than this. The open was stagnate, and I got impatient.

-11 on a failed move low.
bad trade.

I was a bit tired and just completely ignored that I was just above
a series of support levels. The Opening told me the market
wasn't ready to move yet, but I was. Guess who won.


Up $80


Still a winning day. I started feeling a bit invincible and
got impatient. The market will set you straight quickly

I made a few minor adjustments with targets and ATMs and added
a new indy, along with some
dynamic SR lines.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Attached Thumbnails
AJ's Journal-7-21-11.png   AJ's Journal-7-21-11_cont.png  
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