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My NQ Trading Journal
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Created: by ealas Attachments:6

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My NQ Trading Journal

  #11 (permalink)
Just starting out...
Baltic States
 
Futures Experience: Intermediate
Platform: MBT Navigator
Broker/Data: MB Trading
 
Posts: 18 since Feb 2010
Thanks: 4 given, 13 received

yes, yes, yes... I was wrong today. Yesterdays market close told me to short the market today. Well I was listening to my plan. I had to trades which were awful.

What was the problem?
I didn't listened to my strategy. One of the key elements of my strategy is to stop trading when i have loss more than 100$. Today I had loss about 200$. I shorted the market when it was so strong. When it was going upwards I was shorting it. WTF?!
On the other hand i traded my plan. Today I had to short it because my plan was to short it.

Problem was that I had to realize that i have to stop trading after firs 100$ loss. Secondly, I had to check market internal data. TICK, TICKQ, VIX. Right now I'm analyzing it and it doesn't show anything to be bearish of.

To sum up, I was trading with my plan but I didn't stick with my trading rules.

For the future: I have to find the best avarages and charts (5,10,60) to determine the trend. Maybe you can offer something?

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  #12 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,237 received

I just use price action to determine the trend. There is a long discussion in the price action thread.

I would be careful of "need to find <x,y,z> indicator" to determine trend. Really it is just "need to learn how to determine trend", don't qualify it with needing an indicator or some external tool, its more about experience. For me that primarily means just reading and understanding price action.

Mike

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  #13 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received


This is what Ive been using for trend . 3 line break is not dependant on MAs or algos , only CLOSING prices and price action . Study it a little first and grasp the concept and see if it suits you . Heres a link to some more info and google "3 line break charts" for more , hope it helps .

Im with Mike on the experience is key statement and while gaining that experience it pays to have an objective friend ( like 3LB ) in your corner .

Three Line Break

Attached Files
Register to download File Type: zip 3lbPanel.zip (2.3 KB, 44 views)
Register to download File Type: zip 3lbPrice.zip (2.9 KB, 38 views)
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  #14 (permalink)
Just starting out...
Baltic States
 
Futures Experience: Intermediate
Platform: MBT Navigator
Broker/Data: MB Trading
 
Posts: 18 since Feb 2010
Thanks: 4 given, 13 received

Eric J, thanks for your three line break trend indicator! It will check it out.

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  #15 (permalink)
Just starting out...
Baltic States
 
Futures Experience: Intermediate
Platform: MBT Navigator
Broker/Data: MB Trading
 
Posts: 18 since Feb 2010
Thanks: 4 given, 13 received

well yeah.. i was long NQ @ 2007. The price was starting to go upwards, but... non-farm employment change and unemployment rata data showed up...

Flash crash down to 1980 in a few seconds. My stop loss was at 2003 (according to my trading rules), but when it hit the ground i was filled at 1998.. yeah baby.. and then the price came back to 2007.

Really I didn't expected that. From now own I will not have any open trades during comming news..

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  #16 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received


ealas View Post
well yeah.. i was long NQ @ 2007. The price was starting to go upwards, but... non-farm employment change and unemployment rata data showed up...

Flash crash down to 1980 in a few seconds. My stop loss was at 2003 (according to my trading rules), but when it hit the ground i was filled at 1998.. yeah baby.. and then the price came back to 2007.

Really I didn't expected that. From now own I will not have any open trades during comming news..

NFP is a biggie . Forex factory is good for news alerts and heres the link . I dont pay any attention to what the news is only when the news is and when its a red flag on the FF list of news events take it as a chance to sideline and watch the aftermath instead of being sucked down in the undertow .

Forex Calendar @ Forex Factory

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  #17 (permalink)
Just starting out...
Baltic States
 
Futures Experience: Intermediate
Platform: MBT Navigator
Broker/Data: MB Trading
 
Posts: 18 since Feb 2010
Thanks: 4 given, 13 received

During this weekend I've done some thinking about my trading system. I've decided to edit my moving avarages list. From now on I will use: SMA: 20, 50, 200 (for daily analysis).
EMA 34, 100 ( 15min and 60min timeframe) I just want to make sure I will be trading at the direction of the trend.

I've started learn about price action analysis methods. I hope soon I will have something good to share with you guys.

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  #18 (permalink)
Just starting out...
Baltic States
 
Futures Experience: Intermediate
Platform: MBT Navigator
Broker/Data: MB Trading
 
Posts: 18 since Feb 2010
Thanks: 4 given, 13 received


ealas View Post
During this weekend I've done some thinking about my trading system. I've decided to edit my moving avarages list. From now on I will use: SMA: 20, 50, 200 (for daily analysis).
EMA 34, 50, 100 ( 15min and 60min timeframe) I just want to make sure I will be trading at the direction of the trend.

I've started learn about price action analysis methods. I hope soon I will have something good to share with you guys.

Started to trade in the direction of the trend. I had 4-5 trades and they were successful. Right now i see one more problem in my system.
When is that RIGHT time to enter a trade? When i see trend upwards where should i buy? Near 34 EMA? near 50, 100, 200 EMA?
I have to find a system which could show me when whether there is more buyers or seller or something like that. Well basically I need an indicator which could show me whether is safe to long or short.
Do you have any ideas?

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