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AJ's Journal
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AJ's Journal

  #1 (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

AJ's Journal

Thanks for visiting my Journal.

Being a recording engineer in Nashville, Tennessee, I think trading would be a wonderful second career for me, as I enjoy the technology involved. Technical Analysis is fascinating.

So here is a brief history of my limited experience playing the markets...




I spent a couple of months searching the web in my spare time for a good, simple to start with Platform and an affordable broker...

I settled on the NT/ Amp / Zen-Fire set-up.

After Sim testing for a month or two, I liked it enough to spring for a lifetime license.

After another few weeks of Sim trading, I felt confident enough to dive in. I probably selected the wrong market to start with... The ES.

Trading live seemed completely different than Sim trading... Imagine that!! lol

After a %50 drawdown, I stopped live trading.

I cut back on all the nonsense of too many indicators on my chart and just started observing price action in the YM. Live Data without trading. Just making mental notes of when I would enter and exit.

I jotted down the best moving times and went back in.


I have been profitable ever since.


I will get into my system and rules in my next entry.
I think I am going to enjoy my time here at futures.io (formerly BMT).



I now begin my journey to earn enough coin to hang at the farm, look out the window at my horses and trade.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #3 (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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Hi AJ,

Nice to see your journal here. Can you tell us a bit more about your method?

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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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
Hi AJ,

Nice to see your journal here. Can you tell us a bit more about your method?

Mike


Will post some about my method, this evening... I'm about to go into session.

Tried to pick up a quick trade at the opening this morning, but the YM seemed quite confused. I was out. No trades today.
Have to start my regular gig...

Count it off!!!

See ya tonight with MNF...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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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

Well... My session ran late yesterday, so not only did I miss Monday Night Football, I was too fried to update my journal
with my trading method...

This all boils down to my current problem... When to find time to trade!!!

No time to trade this morning. Going in for vocals right now...

Should have time to post this evening...


Have a good day trading, all you lucky cats!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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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
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OK.... I finally have a little time to talk about my simple little trading system.


I use two screens. My Mac laptop and a satellite monitor.

On the Mac I have a one minute chart setup with the old 5 and 10 period EMA trick, along with a 100 period SMA following the price action.

In panel two a have the Volume Up Down indicator.
In panel three, Stochs (7,14,3)
In pane four, RSI (14,3)
I also keep an eye on the DOM with this screen, but I seem to be glancing at it less and less.


On the satellite monitor, I have a three minute chart with the same MA indicators as on the Mac following the Price Action.

Same Stochs
Same RSI

I have Chart Trader setup on this Chart.
I have two T&S panels running next to Chart Trader side of the chart. One filtering out very little and the other filtering out much, looking for Pro's.

My cues are...
1.) A volume spike
I then look at T&S to see how much activity is taking place and if some pro's are in or not.

2.) All Stochs and RSI indicators going in my direction. RSI must cross 50 on both charts.
I'm still watching the behavior of T&S.

3.) I'm a fan of the 5 and 10 EMA crossover trick. I never move until after they cross... at least on the
one minute chart

I don't like trading against the 100 SMA. If above Bullish, if below Bearish. It more often than not also works as support and resistance. And speaking of that....

4.) I always enter and exit a trade with recent support and resistance levels in mind and marked on my chart.

5.) The Elliot Wave....

This is the most fascinating thing I have come across in my research and observation of the markets.
Almost all breakouts have the five waves.

The first wave is the initial big run that comes from nowhere and nobody can predict.
The big volume spike happens after this. There is always a pullback (wave 2). The third wave is the one I try to time and ride. It always seems to be the most powerful. I will be out of the trade when this Wave
slows down and pulls back (wave 4). Sometimes I will go in again for the final wave (5), if the Volume and T&S support it.
I will then wait for the next setup. I usually only trade once or twice in the morning. Never more than four and rarely in the
afternoon. It simply takes time for these ideal moves to set up. The rest is just static noise.

Well, that's basically it.
I suppose I am a student of the theory that Price Action Rules and Indicators are only there to mathematically support
what your own instincts are telling you is happening.
RSI seems to be a very good indicator for me. When that baby crosses 50, it will most likely breakout, if supported by
Price action.

Man.... I hope I can do some trading in the morning....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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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

OK... got a bit humbled this morning...

I got so confident I thought I could just catch a quick before hours trade while I was
finishing up some editing work at the studio.

Not paying full attention to the trading, I filled a position without my strategy being selected
in Chart Trader! Seeing there was no stop on the chart, I closed out as soon as it went south.

That was the first loss... 4 ticks... You think I would have learned....


A few minutes later I see a big volume move with good looking indicators , I go in.

Position starts going south... glance over at T&S and it was against me the whole time. I never even looked
at it, I guess.

Stopped out....



lesson.... When you trade, ONLY trade...


I always remember these lessons when it costs me $$$$....


Oh well back in now at home... Let's see if I can make a bit back now that I'm focusing.....

only 4 hrs sleep at the studio, but I'm feeling pretty good and not mad at the market.... It was my
own fault... never should have taken the second trade and I'll never know about the first....


I'm giving myself two more trys this morning, if they form.... YM looks pretty choppy....


AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; September 29th, 2010 at 11:35 AM. Reason: typo
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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

Tried one more trade hoping for a break out back up to previous levels... No go- stopped out ... Done for the day...

broke one of my rules. I didn't wait for the RSI on my three minute chart... Sure enough, not enough strength to break through...

So much for my winning streak... three losses in a row






not so good


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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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

Came back for for one more after some rest with similar results... 4 down The YM looked like it
would break past 10800, but not for me....




The break out I was looking for earlier to 10800 , indeed happened just after I walked away... Doh!!


I was not feeling the timing today... Lost big ...

Tomorrow is a new day....

I may need to try some of the automated stuff I keep hearing about...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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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


I officially downgraded my trading experience to beginner... My mind got in the way too much today..


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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