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It Begins!!!

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  #31 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received

2.1.21


Today I was able to make a few more trades than normal, 4 trades including what I did Sunday Night.

Today's trades:

1) I went short, thinking that we would break down to the 3728 area, but quickly covered when I saw us put in a temp bottom.

2) I went long on the rapid up swing, but was behind on my buy in... I knew where I should have bought at, but didn't. I got my point and a half here.

3) I saw us come back to a POC and went long off the bounce off of it. I sold quickly, because I was in the green and thought to myself, man I have traded a lot today.


Time Stamp, at 0930 CST, I think a short top is in, but I'm not trading anymore for the day, as this is the most trades I've done in a day.

Thank you userque for telling me about the commissions. I was able to get it activated. Now I want to verify that it's correct versus my statements.

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  #32 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received

2.2.21


Today was only 1 trade with me really wanting to observe the market, due to somethings that were new to me.

The Trade:
1) I saw the initial spike at the open, and waited for a pullback to get in. I took the 3807 entry based on the POC, and went for a 1.5 point run, which hit.

My observations: To learn about
1) each time the market ran up, it had volume behind the move, each break out had a some form of sweep initially. What threw me off was that these sweeps would then go back and be filled.

2) Another thing that threw me off, I was expecting pullbacks on the 15 min chart, and each transition had almost zero pullback.

3) As soon as we started printing new highs, I was looking to go short (this is what would blow up my accounts in the past), but the Volumetric data, and the Delta stats on the bottom showed to not touch the train....

I'm sure there are more things to learn, but for now that was my big take away.

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  #33 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received


After moving my contract size to 5, I'm going to hold it steady here and focus on the trades and not worry about size. Once I can get to $1500, so making 50% of my account, I might move to 1 or 2 contracts on the ES.

But, this is all based on how my trades go.

What made you increase contract size, or move to the majors from the minors?

I like the rules quoted by Trailer Guy: I've done the sim game, now I need to work on 3 points consistently for several weeks.

Is it 3 points for the whole day, regardless of contracts or is it 3 points worth of 1 contract??

I have heard that it's not good to put a quota on yourself. Is that true or false?



I made another topic on the subject and really appreciate the responses I got here:

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  #34 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received

I blew up my account today.

1) I upgraded to 5 contracts, big mistake.

2) I didn't follow my rules, I was trying to get 3 points per swing, and with larger stops. Well that didn't go the way way I wanted it to be. At one point I was down over $800 on the $1100 account.

I definitely got to big for my britches and got eaten alive in the initial chop of 5.


Emotions, were in check, I believe. I didn't get back in the market to try revenge trade.

My stops were bigger than my positive takes. So I was already behind in that regard to risk reward.

Well Crap..

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  #35 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received

2.3.21



This is how bad I did. The numerous bad trades in a row on 5 contracts killed me.

I did this to myself.


As I'm reviewing my trades, I very disappointed with myself right now. But, I know I cannot blame anyone or anything else but myself.

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  #36 (permalink)
userque
Chicago IL
 
 
Posts: 180 since Apr 2016
Thanks: 573 given, 128 received


jmp470 View Post
2.3.21



This is how bad I did. The numerous bad trades in a row on 5 contracts killed me.

I did this to myself.


As I'm reviewing my trades, I very disappointed with myself right now. But, I know I cannot blame anyone or anything else but myself.


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  #37 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received


userque View Post


I'm trying to brush it off. I know I have to let it go and focus on the next trade setup.

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  #38 (permalink)
 AllSeeker 
Legendary Pratik_4Clover
Mumbai, India
 
Experience: Beginner
Platform: TradingView & ZerodhaKite
Trading: Crude, NIFTY, BANKNIFTY
 
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Posts: 1,234 since Jan 2019
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jmp470 View Post
I'm trying to brush it off. I know I have to let it go and focus on the next trade setup.

Taking couple of days off will help. Also, I think problem wasn't necessarily system/setup but you scaling up to 5 (as you realize yourself),

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  #39 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received

2.5.21



Today's trading, and I think I'm done for the day.

Phillips didn't count some of my trades and it looks like I held a long overnight, which I did not.

So yesterday was a flat day...

Today was ok, but I really missed the good setup. I was in it properly, but, didn't hold the last buys.

would have - could have - should have hindsight.

Also I'm starting to look for certain things on the 5min chart to help me, specifically volume induced POC's.

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  #40 (permalink)
jmp470
San Antonio, TX
 
 
Posts: 90 since May 2019
Thanks: 42 given, 52 received


I had to move out to the 5 and 15 min chart, as I don't think my brain is fast enough to process the quicker time frames and make money on it. This seems easier to read for me.

The other change that I made was adjust both my profits and stops targets. Since I'm trading 1 lot, I've made my stops more of a daily loss and daily profit targets versus a per trade loss. This has opened me up to be able to read the chart a little better, I think. I'm testing it now.

The one thing that I've notices is that I'm not letting the position run much at all. If you look at my trades even today, I cut both my short position and my long positions early.

I need to work on a lot of things to get this dialed in to where I'm happy with my trading. Until then, I will keep trading my 1 lot live account. Regardless of how much money I put into the account.

I learned my lesson (the hard way) going to 5 lots per trade. I would rather 1 lot it and scale in!

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