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AJ's Journal

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  #461 (permalink)
 tderrick 
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Big Mike View Post
Market ranges most of the time, so just get good at identifying when it is trending and don't trade during those times

Mike

Oh!! But, I so long to be a trend trader I just need to find a way to build the account so I can , then, trade
"properly"


AJ
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  #462 (permalink)
 PandaWarrior 
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tderrick View Post
Oh!! But, I so long to be a trend trader I just need to find a way to build the account so I can , then, trade
"properly"

Trend trading is a lot more difficult than it looks. On the other hand, the extreme fading you do gives me the willies....but you look pretty darn good at it so keep it up.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


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  #463 (permalink)
 tderrick 
Nashville, Tennessee
 
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Monday 6-4-12 study


Just practicing a few entries while I watch the Heat vs Thunder game.

Fading every large 5min bar with Limit orders retests on the following bar.

Daily target hit.


No play by play / No study of large time frame conditions / just countering every strong move.



AJ
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  #464 (permalink)
 tderrick 
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6-11-12 Monday Replay study

I've loaded in this weeks data with the current contract in force and am finalizing my method.

It appears I am a contrarian trader. I'm always looking to fade or to find reversals.
So since this suits my trader's eye, I'll run with it.

I'm logging big data into excel to make sure I have a statistical edge with this method.
I don't need to generate huge ticks to make a living at this game.

The Plan is $300 a day. $200 for bills and $100 back to the account.
With every $1000 gained, I will add a contract. All in / All out.
15 tick targets / 5 tick stops

I feel I'm very close. I haven't changed my charts in months.
I am in the process of pounding home my entries, so I could do them in my sleep.
15 tick fixed targets seem to work best for me. Since I trade from the edges in (fading the extremes) on retests or
double tops, I am able to keep the stops very tight. The TF forms up edges that are rarely broken by more than 4 ticks
if I have chosen the correct direction.
So my stops are 5 ticks making a RR of 3 : 1.

This also fits well with my daily goals.
$300 target / $150 stop loss ... If I lose 3 in row, I'm just not seeing the days flow.

I Feel this is a nice, low pressure way of going back to live trading and treating it as a part time job.

If I can pull it off, I will be only working on the recordings I want to and I will be a professional trader.
If I can get to two contracts with this plan. I will have all the money I need.
If I can get to four contracts, I will have my house paid off in no time and will be a wealthy man.

...certainly something to strive for


OK.... let's finalize this deal.



Trade 1

1105pm I come to the table seeing my favourite PA in play. My ocean wave PA.
1112pm Buy Limit @ 776.7 / filled at price
1210am Target hit

+15


Trade 2

1231 Sell Limit @ 778.5
103 stopped out

-5

*********** a bit impatient here....wait for a larger exhaustion bar /
Pin bar to the short side was another sign the bulls weren't done with this leg ********************


Trade 3

105 the bar I was waiting for shows up / Sell limit @ 779.2 / filled @ price
115 Target hit quickly

+15


Trade 4

118 Buy limit @ 777.8 / filled
202 The London Open catches me

-5


Trade 5

207 Buy Limit @ 776.6
220 Filled @ price


-5 Perhaps getting a bit too, reckless.


Trade 6

230 Blind Buy Limit @ 775 / looking for a bounce off test of low of day
248 Price bounced as expected

+15

Quite a battle today. I'm going to walk away while I'm close to my goal
Not quite to the target, but I paid my bills while tossing $68 to the account.

I took every set up I saw. Risky and safer. This is about as reckless as I will ever get.

50% wins



AJ
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  #465 (permalink)
 tderrick 
Nashville, Tennessee
 
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6-11-12 study in extra hours

Trade 1

250am Sell limit @ 7773
305 Stopped out

-5 *****************order should have been placed @ VWAP ******************



Trade 2


310am Sell Limit @ 777.7
320am target hit

+15 ***********I thought about modifying target to test of low (would have worked)**********



Trade 3

440am price breaks the low of day and appears to be trying to fill the gap
449am The Second attempt failure to hold above the vwap was a good signal for a longer held short ******
453 Price appears to be heading to Previous week high / R1 confluence area.

***********************
A great long term trade would have been the second failure to break vwap to Previous week high / R1 confluence short
***********************

502 Oh, Lord..I'm looking for a PB entry..this thing is going to at least R1 / Sell Limit @ 775.1 / former low of day
506 EMA is at order / looking good./ this type entry requires a more generous stop, but sticking to my tight one.
511 moving order to follow EMA / 775
519 EMA @ previous small PB area / looking good again
526 order has turned into one similar to normal for me / it just happens to be in a PB context -with trend
539 Price @ 774.6 / completely normal trade
545 order filled
546 Taking advantage of trend context / target moved to R1- Previous week high confluence
606 +15 / BE+2
611 Target hit

+20 whew.....


Trade 4

612 Price moves through level easily / Gap to fill appears to be next.
626 Bears in complete control / only shorts for a while /

****************Trend PB entry target should have been to fill the gap / tighten stop near R1**************

646 A fade attempt in outer [email protected] 770 / Just a feel that it's time for larger PB
653 Not filled / order cancelled / I can't bet against the bears for long

******************* Just missed getting filled / Trade was correct and would have hit target ********



OK .... have to get some sleep

Excellent PA study.

These extra trades aren't going towards my main stats / just getting screen time / this day was closed out
earlier.



AJ
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  #466 (permalink)
 tderrick 
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6-12-12 Tuesday / Replay study

The bears filled the gap and kept going yesterday, only stopping when it hit the previous week vwap on the
hourly way into the globex session.

Trade 1

1100pm The bullish bounce is still underway
1128pm PA is in a beautiful bull trend / can't find a way in and not quite sure of destination
1141 pm Sell Limit @ Yesterdays close / Filled @ price / 749.9 ... trading a couple of dojis
1153 Well, I picked a good transition spot / Price in consolidation
1209 +3 / standard 15 tick target is just at VWAP - perfect
1213 +11 / BE+2
1229 a huge PB at +14 ticks / I hate when that happens
100am Price stops 1 tick before stopping me out / I love this stuff / a game of inches / +7
104 Rats / stopped out

+2


That's it for now ... will resume later this evening . I'm going to spend the day with my lovely wife working around the
farm

_________________ Pause____________________



AJ
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  #467 (permalink)
 tderrick 
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6-12-12 Tuesday / Replay study / Resumption


Trade 2


120am OK, I re-enter In about the same local / Sell Limit @ 750.2 / This is quite the battle area on the hourly chart
131 Filled @ price / Let's make a Double Top
145 +8
152 Target Hit

+15



Trade 3


202 as expected by the Hourly PA / a battle is raging at this level / There is a large run area in each direction
207 Bulls attempt a BO
214 Keeping up with my Contrarian Thinking / Sell limit @ 751.3 - betting the large bullish bar was exaustive.
219 Volume comes in with the rejection of the BO / missed gettin filled by 1 tick / Order Cancelled
220 The Battle is on / I will be fading all extremes via retest bars
225 Buy Limit @ 748.8
227 Filled @ price
230 +11 / BE+2
230 target hit

+15


Daily Target hit


I'm going to get some more screen time while I watch the US open and practice some entries.
This day is officially closed out for the stats.



AJ
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  #468 (permalink)
 tderrick 
Nashville, Tennessee
 
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Wednesday, 6-13-12 Replay Study

Hourly charts are bit rangy. No clear long term trend.

I have decided to base my early trading life on the premise that " Most break outs are fake outs "
I will fade all strong moves with the PB wick technique I have been working on. It works more than it
doesn't and with a 1 : 3 RR, I appear to be having success.



Trade 1

1230am bulls are trending slightly
115am some volume came in a rejection of a small bear move / bulls move in strong with even more volume
130am The first large move appears. / sell Limit @ 759.9 and filled
150 +12 / BE+2

+15


Trade 2

200 a nice wick forms up during the London rush.
205 Buy Limit filled @ 757.8
207 +11 / BE +2
208 Price in turmoil - my favourite
210 long term view looks like a test long of 761 / bullish moves have the volume edge / adjusting target 760.7
222 +14 / BE+2
223 The next long target is a huge runner around previous week high
225 the expected PB @ the test of high occurs. / taking some heat, but I still trust the bulls will test 761
234 big heat.... keeping my wits / BE +2 is your friend / hold for target
236 IF this breaks 761 it could go for big ticks
239 +21 / +7 locked
245 target hit

+30 / the bulls get their 761 and look like they are heading much higher.

Daily goal exceeded / a great payday

I left a lot on the table perhaps, but I'm sticking to my plan and feel good.

I'm enjoying Steenbarger's "The Daily Trading Coach". As expected, it is tying in life lessons with trading.

This is one of the reason's I will trade until the day I die. It is making me a better person.

...almost ready



AJ
Nashville, Tennessee


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  #469 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
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Thursday, 6-14-12 Replay study

Price, in fact, did not proceed higher as I was expecting yesterday. It crashed hard just after my target was hit.
So, in hindsight, I was correct in taking the safe target, taking my profits and going home.

Hourly chart is in a tighter range than yesterday.
Daily chart is stuck in place.



Trade 1

1103pm bulls in control
1116pm fading the edge short / Sell Limit @ 753.5 / sitting up against Y-vwap, so good chance of bounce
105am stall just before order / moving down 1 tick to fill / order filled
113 moving target to nearest SR level / also just under VWAP / good, safe target @ 751.3
118 +11 / BE+2
127 Target hit


+21


Trade 2

132 If this is a true DT we could be heading short to S1
134 No wick formation / can't fade move long
206 Sell Limit 752.8 / "inside" trading range / tightening stops and targets a bit /
215 Buy limit @ 750.1 / I have a bracket going /
219 PA is forming barb wire /
222 Short order filled / modifing target slightly to 751.1
224 +10 / BE -2
225 +14 / BE+2
231 target filled


+ 17


Daily Target exceeded.
Thinking is clear and am feeling confident but cautious.



AJ
Nashville, Tennessee


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  #470 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
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Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received


Friday, 6-15-12 Replay study

I have dacumented enough of my trading thought process for myself, so from now on I will just
post a chart with a few comments on the trading. I have my plan firmly engrained.

I'm steadily refining my wick entries by observing how violent the PB's are and where they are
located within PA. I then modify my stops / targets occordingly.

Seems too good to be true. Thus, the extensive testing.

Daily target exceeded



AJ
Nashville, Tennessee


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