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Kylinbyl's Journal
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Kylinbyl's Journal

  #31 (permalink)
Elite Member
Buffalo
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-01-10

1 trade today for + 8

Stats for today
1 actual trades(+9) = +9 - 1(commissions) = +8
2 trades I was gun-shy. Both would have worked out.

Trade 1
Break down of large triggers. Entered prior to it hitting the small triggers. Stop was behind them. Target was 100% ext, which I rounded down to 1189.25. Held it longer than usual because it never closed out of the small triggers. BB dots didn't come inside band either. I won't lie, that was tough to do. Twice it came back to my entry point. But with the two reasons above I figured it was just pullbacks. Worked out this time for +8.

Notes about today - Happy and disappointed. Held a trade to its potential. But missed continuation opportunity. Gun-shy because I had my +8 daily goal.

Billy

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  #32 (permalink)
Elite Member
Buffalo
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-02-10

Same as yesterday. 1 trade today for + 8

Stats for today
1 actual trades(+9) = +9 - 1(commissions) = +8
1 trade no fill
1 passed on due to flat triggers

Trade 1
Actually got in on the pullback that usually scares me out of the trade. Should have been in earlier but got a second chance. + 8 on this trade.

Notes about today - Nothing to report. Everything looked good today.

Billy

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  #33 (permalink)
Elite Member
Buffalo
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-03-10


Today I could tell I wasn't paying enough attention. Missed things early, then went into a buying frenzy.

Stats for today
5 actual trades(BE,+1,-2,BE,-4) = -5 - 2(commissions) = -7
1 trade no fill @1191 short


Trade 1
News bounced it up and down. I waited to see which way would prevail. I got a high trade size bar(blue one @ 10:05) that was broken to the upside. Next bar broke up as well. I placed an order @1191.25. Actually got filled the same bar. It went up 6 or 7 ticks, but I held to see if there was more. Came back and got me break even.

Trade 2,3,4
Two words - Cluster F@#4. Ended up minus 2. When my stop out from trade 1 rebounded. I got back in, changed my mind, got back in. Stopped out again, because it had to go right away and stay above triggers. Didn't do it.

Trade 5
Was testing if this was a new trend. Had the two bar up pattern, but couldn't sustain it. Stop hit -4

Notes about today - I was hoping for three positive days in a row. Could have taken profits earlier. Needed to get that move down once it broke that way. 610 chart should it should only go back to 1090.5. But I was hoping for 1191. Missed the second chance as well. You know I lost today but still had good opportunities if I would have acted upon them. The good part is I can see them when they are happening. Bad part is figuring out where to enter.

Billy

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  #34 (permalink)
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Futures Experience: Beginner
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Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-04-10

Alright fellow traders, how does a beginner trader get over trying to get the best entry price? It seems I have an area I like to trade from. I also have a price usually in my head because I have calculated a stop location. But I haven't found a way to tell if it will get to my price or not. I have somewhat good direction now I believe, but just need better execution. Does it come with experience? Do you get to the point where you feel the strength of the move and know it should only retrace a little?

I saw the move that pushed up at 10:55am and knew a bunch of people were trapped. But didn't execute the order. I was contemplating 1211 or 1211.50. Then it moved right away. Hindsight is easy because if I look left, which I didn't at the time, once that top was broken and this truly was a move up, then that should have been support now. 1211.50 would have been a great entry.

I only had one trade for the day, and I am giving myself a C. Didn't hold it long enough. Moved stop and it hadn't even come back into the triggers yet. Target should have been 1207 which was lower Keltner on 610 chart.

Stats for today
1 actual trades(+4) = +4 - 1(commissions) = +3
1 trade no fill @1208.50 long(touched but no taking)


Trade 1
Price moved down below trigger lines. BB dots broke outside of bands. Entered at 1209.50. Next couple of bars the battle began. BB dot never broke above midband, so resistance was there. Once it dropped out of band again, we were off. But I took 4 ticks and left the playing field, when my side was dominating. I will get better at these. I will be honest with everybody. I was thinking about yesterday's trade where I was up 7 ticks and took nothing out of it. I think it takes repetition to get the "each trade is its own, don't dwell on the past."

Notes about today - Rebounded from the negative day. It may be only 3 ticks, but it was a positive day. At this point that is what I am looking for. With each positive day, confidence and trust grows. And you know what, with each negative day. Frustration is not there, just where did I execute poorly. That is good too.

Billy

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  #35 (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: 46,238 since Jun 2009
Thanks: 29,350 given, 83,214 received

Even when price is moving rapidly higher, it can still go further still not waiting for pullbacks. Sometimes it makes sense to wait for pullbacks, other times you miss good trades. There is no magic pill, single answer to all, it's just a matter of gaining experience with your method as well as the price action of the instruments you trade.

It's also a function of money management, some entries will have good risk/reward, some will not. You have to break your trades down over time and analyze them (I prefer to do 100 trades at a time) and learn to improve your risk/reward.

Trading is not just about the trade you just put on, it's about all the future trades. Each individual trade is not going to make you a killing, it is positive expectancy over a large sample that makes your money. That requires consistency.

Mike

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  #36 (permalink)
Elite Member
Buffalo
 
Futures Experience: Beginner
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Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-05-10

Break even day. 2 trades and 1 oops. But as I write this it looks like it would have worked out.

Stats for today
3 actual trades(BE,BE,+1) = +1 - 1(commissions) = BE
No no fills because I got into them early.


Trade 1
2 bar down below mid band. Entered on close of second bar. Went down a point but came back. When it pushed above my entry I waited to see if it could go back down. It made it to the trigger line, but not below it. Closed position BE.

Trade 2
2 bar up above everything. Broke supertrend as well. Entered @ trigger(1220.50). Held through 1 point up and back. Moved stop to BE when price moved up but didn't go back outside of triggers. Came back and got my stop then took off.

Trade 3
Was looking to go short. I saw the BB dot fall outside the lower band. I thought the bar was closed and closed below large trigger. I got in at 1223.50 and exited @ 1223.25. I realized I was forcing a trade that wasn't my norm so I exited. I think this was due to BE's earlier. I wanted something out of today. Even though the trade went right - bad habit to force things.

Notes about today - BE day but trades were good again. Right direction, just didn't get anything out of them.
Billy

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  #37 (permalink)
Elite Member
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Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-08-10

I am stopping for the day because I have missed to many chances. I have not grown enough to not have that bother me. Experience will get me to accept this. I did get filled on one trade but exited for a point because I wanted profit for the first trade of the week.

Stats for today
1 actual trades(+4) = +4 - 1(commissions) = +3
2 no fills by a tick.
A couple passed on.

Trade 1
2 bar down with large pointing down still. BB fell out side band. Entered @1218.25, exited 1217.25. +4

Notes about today - Just got to get those entries right and everything will be fine.
Billy

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  #38 (permalink)
Elite Member
Buffalo
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-09-10

I need to end my session early today but took two trades.

Stats for today
2 actual trades(-2,+10) = +8 - 1(commissions) = +7

Trade 1
Tried to get into a continuation trade. Was thinking it could bounce right back down below trigger lines. Started too but came back quickly. Once price closed above triggers i closed the position. -2.

Trade 2
We had a two bar up, then a retrace. Another two bar up above mid band. I entered (lucky) at 1220.50. I complain about my entries and this one should have been 1220.75. Could have missed this one just as easily. Good thing was just about to take market order at 1220.75 when 1220.50 got filled. Price moved up and I choose to exit at the 610 tick chart upper keltner band. +10.

Notes about today - Short session and still profitable. YES.
Billy

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  #39 (permalink)
Elite Member
Buffalo
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL
 
Posts: 56 since Jan 2010
Thanks: 11 given, 68 received

11-10-10

Bad day today. So what did I do wrong. Time to evaluate the chart.

Stats for today
3 actual trades(-4,-4,-5) = -13 - 1(commissions) = -14
I had a couple no fills by a tick


Trade 1
Wasn't a two bar up. Triggers were wrong color. Did have break of MACDBB. Should not have been in yet. Stop -4

Trade 2
Tried it again because better 2 bar break. Triggers were changing. I just think I got unlucky it retraced. Would try this trade again. Stop hit -4.

Trade 3
Nice down movement but ran into larger triggers. I think I was getting desperate for a winning trade. I look for small triggers to pierce large. Should have waited for that entry, which would not have developed and kept me out of that trade. Stop hit -5.

Notes about today - Would have been a different day had I got in some of the other trades, still no excuses for desperation trades.

Billy

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  #40 (permalink)
Member
Cheyenne, WY
 
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Posts: 66 since Nov 2010
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Excellent journal. Thanks for sharing it.

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