It Begins!!! - futures io
futures io



It Begins!!!


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one jmp470 with 39 posts (23 thanks)
    2. looks_two AllSeeker with 4 posts (8 thanks)
    3. looks_3 matthew28 with 2 posts (4 thanks)
    4. looks_4 bobwest with 2 posts (2 thanks)
      Best Posters
    1. looks_one Trembling Hand with 3 thanks per post
    2. looks_two matthew28 with 2 thanks per post
    3. looks_3 AllSeeker with 2 thanks per post
    4. looks_4 jmp470 with 0.6 thanks per post
    1. trending_up 4,207 views
    2. thumb_up 46 thanks given
    3. group 10 followers
    1. forum 51 posts
    2. attach_file 20 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

It Begins!!!

(login for full post details)
  #11 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received

Yesterday, I solidified my Ninja Trader setup, for how I want it displayed. I also SIM Traded for the hours that I can watch the market. I had 15 trades, 1 - 12 were pretty good, but 12 -15 where absolute crap, as the market went sideways and I gave back most of my profits.

Key takeaways: I decided that I like NT setup as per the photo.

1) Right side, is the DOM, with my accounts above.

2) Middle is my Volumetric 3 min chart, with POC and imbalances being shown.
a) I have the POC and imbalances turned on, as well as the Delta Analysis Bar
b) For the Delta Bar, I have selected Trades / Volume, Delta (Bar), Delta % Change, and Cum Delta
I like the Trades and volume, as it shows me how many players are in the market and the volume they are trading
I like the Delta bar, as I like to see the change, but I'm not sure how useful this is, yet. Other than showing how the Cum Delta is going to change.
I like Delta % because I believe that shows how aggressive the buyers are....
I like Cum Delta as it shows whose in control and the overall divergences

3) On the left side I have a 15 min chart, where I will draw out patterns that I see, and I have the Order Flow Market Depth that shows me where the Limit Order are.


So in my brain I see:

1) Support and resistance by the Order Flow Market Depth, I can also see when orders get pulled faster than I can on the DOM.
2) A rapid change in imbalances, or a market sweep on the 3 min chart, to show signs of reversals and aggressiveness of the traders
3) the overall market DOM, where I see areas of liquidity.


As you can see from the accounts, I started off on the SIM trading this morning around 7:45, I saw the long setup, or what I thought was a long setup, and my profits confirmed my hypothesis.

So I switched to live trading

1 did 4 trades, 2 scratch, as I second guess myself around the lower support area.

1 I pulled to early, as it was on the first bar down, and made a tiny profit, like .60 - I find that I'm getting into the market a little early on both my SIM account and my real account. I really need to work this out.

Last trade was bought to high, IMO and my stop was hit.



Any tips, recommendations, etc... I'm all ears....







NT Setup

Reply With Quote
The following user says Thank You to jmp470 for this post:

Can you help answer these questions
from other members on futures io?
Making Quantower look like Sierra Chart - possible?
Platforms and Indicators
Time to change of FCM
Emini and Emicro Index
MTF Moving Average Indicator for nt8?
The Elite Circle
Help with Scale In ATM strategy
NinjaTrader
Any Trade-Ideas Scanner Users in the Forum?
Stocks and ETFs
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Most Funding Firms are a Scam
68 thanks
Spoo-nalysis ES e-mini futures S&P 500
19 thanks
Want your NinjaTrader indicator created, free?
13 thanks
Trading Plan
9 thanks
Selling Options on Futures?
9 thanks
 
(login for full post details)
  #12 (permalink)
 Slopetrader 
Austin, TX
 
Experience: Advanced
Platform: ThinkOrSwim
Trading: Currency, index, commodity futures
 
Slopetrader's Avatar
 
Posts: 7 since Mar 2012
Thanks: 9 given, 5 received

Hey jmp,

It looks like you are using a discretionary intraday approach, with guidelines for entering and exiting trades but not the hard rules of a mechanical trading system... if that's right, my suggestion would be to spend as much time as you can going over charts from the past few weeks or months, focusing on the daily time period that you like to trade in, and practicing and refining those guidelines for entries and exits.

My own preference has been to scroll a chart showing past data forward one bar at a time manually and make decisions as if I were trading live. I'm a big fan of Brett Steenbarger's books on improving trader performance... his recommendations and those of others regarding the usefulness of "deliberate practice" have been very helpful to me.

Best of luck to you.

Reply With Quote
The following 2 users say Thank You to Slopetrader for this post:
 
(login for full post details)
  #13 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Tradovate
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 1,175 since Sep 2013
Thanks: 3,172 given, 2,364 received


It is easy in Ninjatrader to set your account to show commission. It can add up so I would include it.
Also be realistic. It looks like you are trading a $1000 account as your real funded account. Even $22 profit would be a 2% return in a day.
Don't try to make good money at this stage, just focus on trading well and following your rules and learning from what you are doing. Consistency will grow an account and allow for scaling up but rushing to make money risks blowing out a small account.
Good luck.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to matthew28 for this post:
 
(login for full post details)
  #14 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received


matthew28 View Post
It is easy in Ninjatrader to set your account to show commission. It can add up so I would include it.
Also be realistic. It looks like you are trading a $1000 account as your real funded account. Even $22 profit would be a 2% return in a day.
Don't try to make good money at this stage, just focus on trading well and following your rules and learning from what you are doing. Consistency will grow an account and allow for scaling up but rushing to make money risks blowing out a small account.
Good luck.

I absolutely concur with what your saying. Iím focused more on the trade execution and getting that down than worrying about the account balance. Playing with $1,000 keeps me from making dumb decisions, I think... No proof in that, yet, but I donít think I need to add more money to the account, YET. Another thing, itís easy to build a position of 10 contracts in SIM, I find that Iím not that keen on doing it in live. And have kept my largest position to 4 contracts.

@Sloptrader Thatís a good idea and I might start doing that, but I have found in the past, I would just go wild with a position since I knew the outcome.

Itís my lack of self discipline that Iím finding to be an issue. So honing in on my psychology is key for me.

Reply With Quote
 
(login for full post details)
  #15 (permalink)
 AllSeeker 
Legendary Pratik_4Clover
Mumbai, India
 
Experience: Beginner
Platform: TradingView & ZerodhaKite
Trading: Crude, NIFTY, BANKNIFTY
 
AllSeeker's Avatar
 
Posts: 1,234 since Jan 2019
Thanks: 4,435 given, 4,307 received


jmp470 View Post
I absolutely concur with what your saying. Iím focused more on the trade execution and getting that down than worrying about the account balance. Playing with $1,000 keeps me from making dumb decisions, I think... No proof in that, yet, but I donít think I need to add more money to the account, YET. Another thing, itís easy to build a position of 10 contracts in SIM, I find that Iím not that keen on doing it in live. And have kept my largest position to 4 contracts.

@Sloptrader Thatís a good idea and I might start doing that, but I have found in the past, I would just go wild with a position since I knew the outcome.

Itís my lack of self discipline that Iím finding to be an issue. So honing in on my psychology is key for me.

From one underfunded trader to another, its best to trade with what you are comfortable losing. Even if it means trading for less profits. Its a very common stumbling block, I think most of us have been there, so no need for proof.

Also, might want to consider dropping SIM at this point, I find it creates more problems than helps. But this is just my opinion and experience with it.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to AllSeeker for this post:
 
(login for full post details)
  #16 (permalink)
 matthew28 
Legendary Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Tradovate
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 1,175 since Sep 2013
Thanks: 3,172 given, 2,364 received


jmp470 View Post
Playing with $1,000 keeps me from making dumb decisions, I think... No proof in that, yet, but I donít think I need to add more money to the account

Good point as a small account can be a great absolute safeguard against losing too much if one day, for whatever reason, your trading goes pear-shaped

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to matthew28 for this post:
 
(login for full post details)
  #17 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received


LastDino View Post
From one underfunded trader to another, its best to trade with what you are comfortable losing. Even if it means trading for less profits. Its a very common stumbling block, I think most of us have been there, so no need for proof.

Also, might want to consider dropping SIM at this point, I find it creates more problems than helps. But this is just my opinion and experience with it.


The one thing I really like SIM trading for is to validate my ideas, without spending real money to do so, with my trading setup, I'm expecting to see certain events, and I want to validate them. Utilizing my SIM account here, lets me focus on the process not worrying about the P&L.

So I'm not ready to remove my SIM practicing just yet. Another aspect that I like SIM Trading for is running the drills that I mentioned earlier. The one drill, staying in the market, I do not want to do with real money. As I would have a heart attack :-)

The one thing that I've found with the SIM is that I like validating my ideas. The one thing I hate about the sim, is it cannot replicate having real money on the line.

Reply With Quote
 
(login for full post details)
  #18 (permalink)
 AllSeeker 
Legendary Pratik_4Clover
Mumbai, India
 
Experience: Beginner
Platform: TradingView & ZerodhaKite
Trading: Crude, NIFTY, BANKNIFTY
 
AllSeeker's Avatar
 
Posts: 1,234 since Jan 2019
Thanks: 4,435 given, 4,307 received


jmp470 View Post
The one thing I really like SIM trading for is to validate my ideas, without spending real money to do so, with my trading setup, I'm expecting to see certain events, and I want to validate them. Utilizing my SIM account here, lets me focus on the process not worrying about the P&L.

So I'm not ready to remove my SIM practicing just yet. Another aspect that I like SIM Trading for is running the drills that I mentioned earlier. The one drill, staying in the market, I do not want to do with real money. As I would have a heart attack :-)

The one thing that I've found with the SIM is that I like validating my ideas. The one thing I hate about the sim, is it cannot replicate having real money on the line.

Well, I can only chime in with story of my own struggle with it as an example. I had similar thought for whole 2019, I even had a sim journal here, and I've been a millionaire in SIM during those periods. Guess how much money I made trading those exact same ideas validated through SIM? I lost more than I made

Trading is funny little business, and money is even more funny business, it changes everything. Its just far better to test ideas on smallest tradable contracts than on virtual money. Especially if you are doing it discretionary. Again, its just personal experience, there have been many smart people here who have made good use of SIM in their own journey. I wish you similar fortune.

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to AllSeeker for this post:
 
(login for full post details)
  #19 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received


LastDino View Post
Well, I can only chime in with story of my own struggle with it as an example. I had similar thought for whole 2019, I even had a sim journal here, and I've been a millionaire in SIM during those periods. Guess how much money I made trading those exact same ideas validated through SIM? I lost more than I made

Trading is funny little business, and money is even more funny business, it changes everything. Its just far better to test ideas on smallest tradable contracts than on virtual money. Especially if you are doing it discretionary. Again, its just personal experience, there have been many smart people here who have made good use of SIM in their own journey. I wish you similar fortune.

You're correct! So today I decided to do both SIM, then read your post and put on my big boy pants and went live. Here are the results, now mind you, I just hit close on the SIM account, versus playing the zones....

I had a short bias coming out the gate. Please note I only had 1 trade, for a positive $10. I'm done for the day, unless I see a full correction down on the 15 min chart. I saw a large order sitting around the 46 mark and went short into it. My original price target was 43, but I hit close and with slippage got the $10 gain. I have to be willing to hold just a little longer.

ON the bright side, I didn't lead the market I waited until my price point hit to enter. Normally I would have done those shorts going into the bigger more. STupid trades!

Oh and my analysis is that the large volume + positive delta is showing a mini top for now now we either build a base, or pull back a little. This is based on the extended 15 min chart, and the Volumetric chart.


Now I get to see if I'm correct!!! Time Stamp: 8:44




1_25_21_Trading

Reply With Quote
The following 2 users say Thank You to jmp470 for this post:
 
(login for full post details)
  #20 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received


Time Stamp 10:31! WOW... what a move to the downside into some serious volume around the 38 area!!!! To bad I missed it, as I had to work. I'm still happy with my $10 move :-) and being able to read the information presented by my setup.

On another note: I do think being happy with your UI (NT8) is very important. I say this with my 5 days of NT experience

Reply With Quote
The following user says Thank You to jmp470 for this post:


futures io Trading Community Trading Journals > It Begins!!!


Last Updated on May 18, 2022


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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