AJ's Journal - Trading Journals | futures io social day trading
futures io futures trading


AJ's Journal
Updated: Views / Replies:56,552 / 736
Created: by tderrick Attachments:320

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 320  
 
Thread Tools Search this Thread
 

AJ's Journal

  #541 (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


D4YTR4D3R View Post
I think that it was actually @Adamus who asked the question, but thanks for the detailed explanation anyway!

Oh, crap... see how messed up I am

This business will shake you up, man.

Sorry, @Adamus .... I hope I clarified something to someone.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Reply With Quote
The following 2 users say Thank You to tderrick for this post:
 
  #542 (permalink)
Trading for Fun
Bay Area, CA
 
Futures Experience: Intermediate
Platform: Think or Swim
Favorite Futures: YM, ES, 6E Futures, Weekly Vertical Spreads
 
Allistah's Avatar
 
Posts: 136 since Jun 2010
Thanks: 5 given, 64 received

I didn't read all the posts here in this thread because there are a lot of them. Congrats on sticking with it and continuing to learn.

How are you doing on your balance that started at 2k?



-Alli

Sent from my iPhone

Reply With Quote
The following user says Thank You to Allistah for this post:
 
  #543 (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



Allistah View Post
I didn't read all the posts here in this thread because there are a lot of them. Congrats on sticking with it and continuing to learn.

How are you doing on your balance that started at 2k?

-Alli

Sent from my iPhone


I had a draw down of 50% on that first trading account before I realized I didn't know what I was doing.
It looked so easy !!

I have been studying and saving ever since.

$2K is not a good number for beginners because you can see the bottom very easily. The pressure is immense.


Currently, I have been fluctuating between $5k and $10k and I feel that is a bare minimum with 1 car in
futures.

I am very tight with my cash, which is one reason I take losing so hard. Not good for a trader.

That will be my enemy for a long time. That is why I am taking it so slow this time. I have to have my
mind right. No small feat for me

Just getting used to the pressure.

Sooner or later I will have to get up the guts to withstand that inevitable drawdown, stabilize myself
without going back to SIM and work my way back.

Then I will be real, novice trader.


Trade Well

AJ


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Reply With Quote
The following 2 users say Thank You to tderrick for this post:
 
  #544 (permalink)
Trading for Fun
Bay Area, CA
 
Futures Experience: Intermediate
Platform: Think or Swim
Favorite Futures: YM, ES, 6E Futures, Weekly Vertical Spreads
 
Allistah's Avatar
 
Posts: 136 since Jun 2010
Thanks: 5 given, 64 received

If you can program a bit or learn how you should try to figure out how to program your strategy. I found for myself that if I coded some simple things on the chart I couldn't trade without them showing up. For example I have a trigger that puts something on he chart when it's ok for me to trade. Do that on each chart and then you can trade unless that thing or whatever it is shows up on all three charts.

Without that I would think I would see things that weren't there. With this it's obvious. The flag shows up and you can see it or you dont. On mine it says bullish in green and bearish and red. Has to be red on all three charts to enable me to trade bearish. All green to be bullish.

Hope this gives you some food for thought...



-Alli

Sent from my iPhone

Reply With Quote
The following 2 users say Thank You to Allistah for this post:
 
  #545 (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


Allistah View Post
If you can program a bit or learn how you should try to figure out how to program your strategy. I found for myself that if I coded some simple things on the chart I couldn't trade without them showing up. For example I have a trigger that puts something on he chart when it's ok for me to trade. Do that on each chart and then you can trade unless that thing or whatever it is shows up on all three charts.

Without that I would think I would see things that weren't there. With this it's obvious. The flag shows up and you can see it or you dont. On mine it says bullish in green and bearish and red. Has to be red on all three charts to enable me to trade bearish. All green to be bullish.

Hope this gives you some food for thought...



-Alli

Sent from my iPhone


Thanks for the help


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Reply With Quote
The following user says Thank You to tderrick for this post:
 
  #546 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received


tderrick View Post
Ha!! Ha!!!!!!!!!!

D4, I have all quandaries that are possible in trading.!! Since I appear to gravitate to trade the extremes , I
feel that I need to be very flexible in reading PA. Since my main entry chart is 5 min, I have to gauge if
price is weak enough to test that extreme and then PB to give me my profit or is the retest strong and will
blow right through my stop. This takes very cool calculation and I am very good at it in SIM.

However, When the "red light" is on, my mind just starts working differently and I can't process all the data
as effectively ... not even close really.

I simply need More time under fire of live trading with a clear, calm and confident mind. I seem to
have none of those traits right now. So i won't trade live for a week or two.

So, yes ,I like to keep it very short and simple and just trade price action. I have tested the odds
of retest success endlessly and it works much more than it doesn't. The rest is simply execution = A clear, solid
mind. Since I really don't have a scalping "system" per say, I have to be very cool, to judge which extremes to fade.
Even PB's are extremes. When is the PB over? It's all the same judgement. Just different scales.

I don't want a mechanical system where if the blue line crosses the red line and two oscillators are moving
just right your in.

I can "see" PA developing in SIM... I just can't live..... YET!!

I just feel a system could never find the major SR on an hourly chart and then stalk the reversal. This gets you
entered on the beginning of a large potential move and gives you the opportunity to scale in.

I believe this is where the big money lies. More than my wildest dreams.


tderrick View Post
Oh, crap... see how messed up I am

This business will shake you up, man.

Sorry, @Adamus .... I hope I clarified something to someone.

Yes, question answered, no worries, thanks.

I am the opposite of you I think - I don't seriously think I'll have a big issue going live with real money - although I'm basing that statement on the fact that I traded real money for a couple of years already, but with a mechanical system not discretionary - room for a big over-assumption there

One other factor in my favour is that I find it so difficult to stick to the rules while sim trading the 3min EUR/USD, I can't see how it can be more difficult on my real account. I'm waiting for a new dawn in the way I approach this stuff mentally - and I don't think it has to be with real money - I suspect it will be a kind of zen thing.

Another theory - against my assumptions - is that trading live money will throw extra thoughts into your decision making process, effectively slowing it down. That leads me to think, maybe you should switch from 5min to 3min for a session - do you think you'll have the same reaction that you did switching from sim to real money?

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
The following user says Thank You to Adamus for this post:
 
  #547 (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


Adamus View Post
Yes, question answered, no worries, thanks.



Another theory - against my assumptions - is that trading live money will throw extra thoughts into your decision making process, effectively slowing it down. That leads me to think, maybe you should switch from 5min to 3min for a session - do you think you'll have the same reaction that you did switching from sim to real money?


I have invested too much time in learning 5 min bar tendencies to switch now

...and am hoping on cutting down on all RE-actions.

Thanks for spending the time


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Reply With Quote
The following user says Thank You to tderrick for this post:
 
  #548 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received


Adamus View Post
Another theory - against my assumptions - is that trading live money will throw extra thoughts into your decision making process, effectively slowing it down. That leads me to think, maybe you should switch from 5min to 3min for a session - do you think you'll have the same reaction that you did switching from sim to real money?


tderrick View Post
I have invested too much time in learning 5 min bar tendencies to switch now

...and am hoping on cutting down on all RE-actions.

Thanks for spending the time

I guess that seemed a bit of dumb suggestion - I don't think you should swap timeframes either really. My thoughts behind the idea though were about how frequently your thoughts go through your head. If you have too many thoughts, you have less time to judge how good each thought is. It's a kind of stream of conciousness thing. It could go:

it's hit resistance now, if it pauses here for a long time, it's more likely to jump further
if it was going to fail at R badly, it would have fallen back by now
it came screaming up here from the last resistance so fast, there's no natural place to put a stop
this is real money
where can i put that stop
it just dipped and came back again
there's more resistance just above
this is actual money here
the R:R on this would be poor
it really looks like moving up strong
maybe i should reduce my position size
etc
etc
etc

so take any timeframe and throw in more thoughts - the more experience we have, the better the stream of conciousness going into the decision, the more inexperienced, the worse it'll be, polluted with rubbish we shouldn't be bothering with


You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
The following 2 users say Thank You to Adamus for this post:
 
  #549 (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

A perfect day

I stumbled across this perfect trending day in my replay studies and wanted to document to myself
the entries I used.

I studied the pre- open and placed three blind entries to cover several different scenarios.

order 1 - Sell Limit 2 ticks above immediate high of day
order 2 - Sell Limit 2 ticks above overall high of day. both trades with my runner ATM - thinking that if price
moved, this would be the top - I needed to get short here. thus 2 catch levels

order 3 - Buy limit at the best hourly support confluence I could find as an ultimate target.



Trade 1

Price almost bounces here.

SL

-3


Trade 2

High of day is tested and rebounds hard, as expected.

the first bar completely leaves the current channel. It's obvious this thing is running.

add second car at first hesitation. I knew there is rarely time for a PB entry on the first tiny PB.
Sell Stop order placed 1 tick below second bar down wick

Third car enters at first normal PB. Sell limit placed at top of bullish hammer, expecting a slight
overshoot test, Price tests by 1 tick

car 4 enters at first major PB - Price sets up a classic edge, making it very easy to enter and keep
a tight stop. When you have this much cash locked up already, there is no reason not to add to
position on every PB that occurs on your way to your major hourly target.

All targets hit

Reversal---------------------

Trade 3

I knew there would be a big bounce in this area. So I left my trending strategy in place.

Order filled, almost to the tick. Price overshoots by 4, almost taking me out.

************** I should move blind orders to 3 ticks above / below SR... both orders were almost taken out*********************************************************

I scaled in, perhaps a bit too quickly, ****wait for some opposite colored bars and look for confluence PB area***********

I set up fib retracements on the hourly chart and put target one at 38% and target two at 50%

both targets hit while still leaving ticks on the table.


This price action was perfect. every order and trade came easily and read like a book.

Once again, I need to be able to study the full context of the market, just like this, under the gun.
How to think clearly in the heat of battle? The only way, is time in the field

I'll be starting up again soon.

The business is picking up and I will have some spare time coming up, with a little less personal stress.
I have to keep pulling the trigger live
so that I can overcome that cloudy reasoning under pressure.

The marker will lay it all out for you, if you can simply SEE


AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; July 25th, 2012 at 12:10 PM. Reason: idiot
Reply With Quote
The following user says Thank You to tderrick for this post:
 
  #550 (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

oops, Chart


damn...

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"
Reply With Quote
The following user says Thank You to tderrick for this post:

Reply



futures io > > > AJ's Journal

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
T's Journal Tmanbone Trading Journals 37 August 9th, 2012 04:52 AM
K.I.S.S. Journal Presto Trading Journals 39 October 7th, 2011 06:54 PM
Need Help with Journal Template grego Elite Trading Journals 2 August 14th, 2010 03:52 AM
G's journal gfg1 Elite Trading Journals 58 June 10th, 2010 02:31 PM
AR01 Price Area Journal (Not a trading journal) AR01 Emini Index Futures Trading 69 April 2nd, 2010 09:01 PM


All times are GMT -4. The time now is 01:58 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.17 seconds with 20 queries on phoenix via your IP 54.226.113.250