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AJ's Journal

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  #501 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
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Thursday, 7-5-12 ETH study

OK, today I have a new goal I will start taking some with trend, PA target based entries, if a classic
trend forms up.

I simply can't be a great trader If I don't have a method for entering in a trend and taking a ride every once
in a while.



Trade 1

my normal fade gag, failing by 1 tick

-4


Trade 2

This fade works

+12


Trade 3

a trend forms
Stopped out on PB to 20 ema entry attempt

-4


Trade 4

This appears to have been the corrrect entry to trade 3.
I was a bit impatient. I know to wait for a test of the vwap.
The bounce off the vwap is always a good entry.
I ride it to the next logical target- Y-high

+22


Trade 5

I enter on amother PB and ride to the top of the body of the high bar of previous day.

+13


Trade 6

Filled on PB wick
Target - high of previous day

BE +1


OK .... not bad... these with trend, PB entrys appeared to work in this choppy type of trend.
I will most likely still sit out strong trends. (unless I'm already on, of course )



AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #502 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
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Thursday, 7-5-12 RTH Replay Study

The trend is continuing, it appears.

Trade 1

Some type of monster move occured at 6am cst. The only news I could find was three high impact reports
from the Sterling. **************************

When the dust cleared, the first normal range bar was a lovely bullish hammer with it's wick
right on the 20 ema. I couldn't resist.
I leave my standard 16 tick target in place, not being sure of price since the large bars banged off R1

+16


Trade 2

Another huge clearing bar happened two bars after I got out. That was close.
The second big move was at a high impact EUR news release.
Is TF related to the Sterling and EUR like that.? ...research time

I was very lucky on trade 1 / I must be up with the news reports, trading this time of day************************

Another large, clearing move at 715 am - Non Farm Employment***************************************

Damn ... this is like a war zone
more news at 730am..... ECB and US Unemployment Claims - ( moves a little milder)***********************

Finally - a set up - PB to the vwap short - will stay in as long as possible until the open.

no need

+16 with plenty of time to spare


Trade 3

oh !! no need!!

Daily target hit


It appears as if I may have stumbled into something here.
Trade the London open until 4am, take a break - a little chow - a little shut eye.
Up at 6am - trade 615 to 11am

hmmmmm

Like two halves of a football game
same stop loss / gain targets for each..... or better yet - If I win at London, I can then trade the US-
If I lose at London - done for the day.

exciting



AJ
Nashville, Tennessee


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  #503 (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


Thought I would get some more screen time and finish out the rest of the morning.

I remembered a bit too late @kbit 's info that TF run's are around 100 ticks these days.
So I was trying to enter short on run that was spent.

Trade 1

A good entry at a bad time
PB to vwap

-4

Trade 2

Perhaps chasing a bit, but the trade was still valid - again, just at the wrong time

-4


Trade 3

Finally a bit of consolidation appears, giving me a shot going short again
I was expecting another run at the vwap, but I took the more conservative target of 20ema

+22

Fairly poor trading

7-5-12 is in the books



AJ
Nashville, Tennessee


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  #504 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
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Friday, 7-6-12 ETH

I've come to realize something as I pound away the hours gaining screen time.
BE + whatever trades are useless. They are simply there to make you feel better. All they do is lose money.
Price is constantly testing the high / low. ( trading like I trade - at the extremes) It makes no sense to give
price a good shot at taking you out. I mean my stop is right there - just above the swing high by no more than 4
ticks, usually just 2 if price has moved off well. My RR is already way over the top.

So.... BE's are out



Trades 1 - 4

I find myself in my trading nervana. A beautiful wave, sideways channel. Like shooting fish in a barrel.


I double my daily target and earn the right to trade the US open

With every chart I post, I am learning something new about PA...... Fascinating
I want to kiss that little Japanese rice trader who invented this candle stick bar gag!!.... alas, he is
long gone... In the next life then!!! smoooootchhhhhh



AJ
Nashville, Tennessee


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  #505 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
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Thanks: 4,260 given, 2,530 received

Friday, 7-6-12 RTH

A continuation of the Friday trading. This time, with a RTH mindset.


Trade 1

More of the same from the ETH. I was able to squeeze out one more channel fade before the jobs report.
4 minutes to spare and an hour and a half in the making. Creepy timing.

+16


Trade 2

I waited out the big news move down. I saw the obvious target on the 30 min chart - a large line
of narrow consolidation. I would bet my house, price would, at least hestitate there. If I used larger stops,
I would have put in a Limit Order right at the bullish edge of the channel, but I'm not quite there yet.

Price confirms the bounce when it arrives and I pick up a quick 10 ticks on a fade after a large
doji signal bar. I could have had close to my full, normal 16 ticks, as it turned out, but I like being conservative, this radically counter trend.
10 is almost a given.

+10


Trade 3

Just 4 more ticks to make my target for the ETH session

Two lovely signal bars tell me price will bounce enough on the low test of the bullish hammer bar,
to gather my session target.
I follow the paint retracing it's way back from the test of the low with my stop, and gather 7.

+7

Session target hit.


I have found my second goal, it appears, after I return to live trading.

Initial goal - the original = $300 daily target / $150 SL per day - period.... day is over when achieved.

After I settle in and get a good solid routine down of making money and have the account built up a bit,
I will trade the 2 halves with the same rules per half. So, just like a football game, if I get down in the 1st half (ETH)
I can make a comeback in the second half (RTH), and still have a decent day. + $150 for a day is nothing to sneeze at when you're a working man.

It is essential, that at some point, I learn to work out of a hole. It just won't be now !! lol

A great!!! trading day Targets hit on both sessions.

I feel good about my technique. Now, when my psyche follows the lead, I will be a trader

I'm going to finish out the RTH session in "SIM" to gather more screen time....



AJ
Nashville, Tennessee


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  #506 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
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My eye is getting so keen to PA as it relates to the 5 minute bar and the TF, that it is getting
to the point where, with most of my entries, it's not WHETHER price will move in my direction,
it is HOW MUCH.

This is a wonderful feeling to have heading into live trading again. It's not so much cockiness, as KNOWING.

When one bar does this, the next must do this. It almost becomes a law or an axiom.


The entries during the first go round in my trading were prayers tossed in the wind.
Nobody realizes how hard it is - It LOOKS so easy, right? Price goes up - go long. Price goes
down - go short. It's funny that I trade the polar opposite of that now and I seem to be having success.
(There is no success until I read positive numbers on my account statement for several months in a row)

Why is it almost mandatory that you blow out an account before you realize you can't just sit
down at a screen and make money?

Thank goodness I am too much of a tight wad to let the account draw down below 50%.!!
It gave me a wonderful head start on the second account!! lol

Life is good and it's finally raining in Tennessee


AJ
Nashville, Tennessee


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  #507 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
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oops.... I cut off the last trade on my 5 min. chart


AJ
Nashville, Tennessee


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  #508 (permalink)
 tderrick 
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I'm losing it... here it is


AJ
Nashville, Tennessee


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  #509 (permalink)
 Big Mike 
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Do you look at any other time frames?

Sent from my DROID RAZR using Tapatalk 2

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  #510 (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



Big Mike View Post
Do you look at any other time frames?

Sent from my DROID RAZR using Tapatalk 2

Yes

Hourly
30 minute with MP
15 minute with MP
entry with 5 min

When I trade in the channels, there is no need for the larger ones for me.
Only when I think I have a runner will I switch out to find a target.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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