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Day Trading Micros Accountability Journal


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Day Trading Micros Accountability Journal

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  #1 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Its been a long time since I posted a journal here and I am not sure if it is to late to be included in the Journal Contest but even if it is not included, I am hoping that it will help me get back in sync with the markets, consistent and profitable. How is that for a long sentence. Anyhow, I have a small live account, use NT8 and trade the following instruments: MES, MNQ, M2K, MYM and MGC.

My two bread and butter setups are X2s and Y2s with trend. Ideally off of support or resistance and in trigger zone 1. Xs are long trades and Ys are short trades. Here is an example of an X2:



As you can see I look for at least a 1:4 risk to reward ratio. Trigger zone 1 is between 50% and 61.8% (The Golden Ratio) but extends as far as 70% in my understanding. For deeper pullbacks trigger zone 2 is between 78.6% and 88.6%. The Y2 setup is exactly opposite of the above X2 setup. X2s are just another way of saying, "second attempt long" and Y2s equal "second attempt short".

Another way to enter a long trade is with a Y2F trade setup which is a second attempt short failure and it is also where I would add to a long position if I am already in a trade. With this setup I usually only look for a 1:2 risk to reward ratio because of the larger stop size normally required. Here is an example:



An X2F trade setup is another way to enter a short trade and is exactly opposite of the above picture. When I am waiting for one of these setups to occur I may take what I call aggressive entries "AEs". I only take these when I am expecting price to reach a certain level, maybe a pivot, fib target, vwap, HOD, or LOD.

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  #2 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I happen to get up and glance at the charts and saw that the market is moving nicely tonight. Two phenomenal trade setups on MNQ. The second one is still in progress but I am confident it will reach the target. Sometimes when the market moves nicely like this in the overnight session it is dead in the morning session. I am hoping that is not the case tomorrow. Here is a screen shot of what I saw:




Note: I adjusted the picture to show that the trade did reach the 1:4 target! Over 120 ticks!!

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  #3 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received


Late start. First trade is a scalp for +22 ticks. 5 points plus 2 ticks to cover commissions on MNQ. Market currently had a bearish bias in a bullish market. It was an X2 long.



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  #4 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Had to wait a long time on this trade after missing the ride down. Counter trend scalp for +48 ticks.



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  #5 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Struggling to pull trigger - Changed chart view to hopefully clarify things for me - The yellow line is the pivot point:



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  #6 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I am sitting on my hands for awhile. In fact, I am going to go get a bite to eat and return to the charts in 15 to 20 minutes and see what things looks like.

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  #7 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Hate it when this happens - lol - Step away for a bit and then the perfect trade setup triggers - Don't know if it will make a 1:4 but I would already be risk free if I was in the trade - There is always another setup:



Note: Back on the 884 volume chart / Also trade is well over 120 ticks already!

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  #8 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

I have to take my wife for a covid test here in a few minutes. Hopefully, it will return negative! I don't know if I will be home in time to trade any more.

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  #9 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Just got back - Missed another setup - Here it is:



Will it work is the question? But already a nice trade!

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  #10 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received


Currently, price hasn't broken thru but to the tick (TTT) it has reached the major SH - Hopefully it breaks thru and reaches the target

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  #11 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Update: Broke thru by 1 tick and broke down - I would have exited the trade at 297.4 to avoid giving any more money back.



It just hasn't been my day - Missing the good setups! Oh well, that is trading sometimes!

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  #12 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Price did reach the 1:4 target but I would not have ridden it out to reach. I elected not to enter the trade with a delayed entry even though it would have worked out. Content at the moment!



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  #13 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

First plan this morning was to enter 88 or lower on M2K and ride it to at least 2200.5 the first target of several. Price only came back to about 91 and has already gone to my first target so bummed.

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  #14 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Next plan was to buy long in the 80 area on deep pullback - Price came back to my first area and held. I scalped a couple trades with multiple contracts and am up about 140 ticks. Will try and post later but focusing in on charts now.

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  #15 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Here were those trades:



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  #16 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Been SOH since those earlier scalps. Today is just one big inside bar day - We haven't been able to test yesterday's prior HOD or LOD:



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  #17 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

After waiting my first trade entry didn't fill (missed by 6 ticks) - No waiting again



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  #18 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Another missed trade and price already went past my 40 ticks that I wanted so cancelled order:



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  #19 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Very late start today but am up 86 ticks so far. I am expecting a bullish close today and wanted to be here early to buy and let it run but that plan didn't work out. So back to scalping. Here is my current chart view:



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  #20 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Missed this trade while moving the car for Willis, my wife's brother who is staying with us - This is a textbook trade imo - X2 with the trend trade:



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  #21 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Being that it is Friday and almost the afternoon (EST) I am going to be content and call it a day. Very frustrating week with lots of late starts and interruptions. Hopefully, next week I can be a little more detailed in this journal and be a more stable trader. My wife, Patti starts teaching at her school next week which will be nice "trading wise" but I will miss her being at home also.

Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
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  #22 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

New week means a fresh start. Took my first entry on MGC a little bit ago. A long at 1815. Initial stop was 12.8. However, I didn't want to see price break the 14.9 level and it did. So I closed the trade for +4. Price did move in the direction of my initial target of 1820 but I don't expect it to keep going. Let me look and get a picture maybe it will have moved some more by now.



I am glad that I closed the trade!

Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
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  #23 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

My second trade (a short) missed filling by 1 tick and then dropped as expected.



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  #24 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

So bummed - Price has already dropped more than 70 ticks. At least I was on the right side of things and had the right idea.

Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
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  #25 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Quick scalp of +10 on MES.



Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
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  #26 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: MES, MNQ, M2K, MYM and MGC
 
Posts: 532 since Jul 2014
Thanks: 2,481 given, 831 received

Another +10 ticks on MES:



Don't be controlled by GREED, Led by FEAR, or Puffed up with PRIDE!
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