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Tiger's Price Action Journal


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Tiger's Price Action Journal

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  #231 (permalink)
 Tiger45 
San Diego, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Trading: CL, ES
 
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Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Today
6E: +$200.00
TF: flat
CL: flat

Month
6E: -$510.50
TF: +$50.00
CL: -$1000.00


YTD
6E: -$550.00
TF: +$50.00
CL: -$1,000.00

The day started off as usual, me determined to take my signals.

The 05:18 was a nice short entry. Let it slide because of news at 05:30. This would have be a scratch.

The 06:12 bar (or earlier if trailing a stop) was a nice entry. I was waiting for a with-trend bar. Debated on entering after the 2nd doji but talked myself out of it.

Trade #1

After the drop, price started making HH andHL. The 07:18 abd 07:21 bars formed a double bottom, and the 07:24 bar made a run for the 1.4126 resistance level. Entered 7 ticks off the double bottom. +16 ticks


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  #232 (permalink)
 Tiger45 
San Diego, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Trading: CL, ES
 
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Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Today
6E: flat
TF: -$70.00
CL: flat

Month:
6E: -$510.00
TF: -$20.00
CL: -$1000.00

YTD
6E: -$550.00
TF: -$20.00
CL: -$1000.00

Two real trades today, two in sim. Guess what happened.

Trade #1
After the big morning drop, price made a pullback close to the EMA. Went short after the pullback leg, but there wasn't any follow through. +1 tick.

Trade #2
After an hour of consolidation, price broke out of the channel. Entered a long order 8 ticks above the pullback leg's pivot low. I suspect some news event occurred, because the 6E exploded on that same bar. Got stopped out -8 ticks.

After the stop out, I was spooked and switched to sim. I thought it was strange that a nice steady uptrend would end like that.

My 2 sim trades were a scratch and +16 ticks. These signals were very nice, and I'm more than a little miffed that I switched to sim. I need to disable sim mode.

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  #233 (permalink)
 Big Mike 
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Nice, always great to see more video journals especially with profit targets reached

Mike

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  #234 (permalink)
 Tiger45 
San Diego, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Trading: CL, ES
 
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Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Today
6E: +$25.00
TF: flat
CL: flat

Month
6E: -$485.00
TF: -$20.00
CL: -$1,000.00

YTD
6E: -$525.00
TF: -$20.00
CL: -$1000.00

Trade #1
This trade went well. I followed my rules by taking a with-trend entry. Didn't move my stop too soon and let it play out. +1 tick Happy



Trade #2
Less happy about this one. After price failed to go lower, it made a put up. Got in on the pullback to the first leg. However price had made a double top before pulling back, and there didn't seem to be a target in site. I didn't give the trade enough time to work. Moved my stop too soon and missed my 16 tick target. +1 tick.


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  #235 (permalink)
 thatguy 
New Brunswick, NJ
 
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Posts: 133 since Jun 2009
Thanks: 46 given, 156 received

I haven't read your whole journal and I might be way off base here and I hope I do not offend you. If I do, apologies in advance as it is not my intention.

Looking at your posts over the last couple of weeks it seems that you have more losing than winning days. You do however seems to be fairly rigid on following your trading plan which is a really good thing. My question is, how do you know that your plan is providing an edge? Have you backtested it and know the performance of the last couple of weeks is still within normal range?

Even though this is important to have a plan and to follow it rigidly, if the plan is leading you over a cliff, it is no good.

But as I said, I have not read your whole journal so feel free to tell me to get lost and mind my own business.

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  #236 (permalink)
 Tiger45 
San Diego, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Trading: CL, ES
 
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Posts: 309 since Sep 2010
Thanks: 203 given, 422 received


thatguy View Post
I haven't read your whole journal and I might be way off base here and I hope I do not offend you. If I do, apologies in advance as it is not my intention.

Looking at your posts over the last couple of weeks it seems that you have more losing than winning days. You do however seems to be fairly rigid on following your trading plan which is a really good thing. My question is, how do you know that your plan is providing an edge? Have you backtested it and know the performance of the last couple of weeks is still within normal range?

Even though this is important to have a plan and to follow it rigidly, if the plan is leading you over a cliff, it is no good.

But as I said, I have not read your whole journal so feel free to tell me to get lost and mind my own business.

No offense taken. The fact that I've had more losing days than winning days is less important than the fact my losers are larger than my winners. My problems as I see it is that I am NOT following my plan. Trade #2 today is a perfect example. Nice setup, good entry. Got spooked because of the lack of momentum (read lack of immediate gratification), and moved my stop before my plan called for it. Net result: got 1 tick instead of the 16 ticks the trade eventually ran to. To add further insult, I was stopped out on the lowest tick of the bar before price moved in my favor.

I have looked at many hundreds of charts and identified this setup, but haven't completed the programming for it. I'm hoping to make more progress on that this weekend.

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  #237 (permalink)
 Tiger45 
San Diego, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Trading: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Today

6E: +$12.50
TF: flat
CL: flat

Month
6E: -$472.50
TF: -$20.00
CL: -$1000.00

YTD
6E: -$512.50
TF: -$20.00
CL: -$1000.00

Bad day. Totally ignored my plan and passed on winner after winner. Managed to talk myself out of each of them. Only 1 trade for BE+1, and I spent so much time arguing with myself I got a worse entry by 2 ticks.

Way too many distractions today. I'm involved in a lawsuit and have to gather docs, and my son is having his Eagle Court of Honor this weekend, so I've been doing a lot of planning for it. I'm not using these distractions as an excuse, because I saw every entry and even marked them on my chart in real time. Just didn't take them. Made entries in my psycho journal that may be useful to my therapist someday.

I think I'm going to make an appointment with a doctor to see about getting my sex changed. Maybe I'll be happier as the pussy I'm turning into.

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  #238 (permalink)
 Tiger45 
San Diego, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Trading: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Today
6E: +$150.00
TF: flat
CL: flat

Month
6E: -$322.50
TF: -$20.00
CL: -$1000.00

YTD
6E: -$362.50
TF: -$20.00
CL: -$1000.00

Focused on the Euro today.

Trade #1
Market was in a nice down trend all morning. Waited until after the news and tried to short the close of the 06:18 bar. Filled 1 tick lower that I wanted. It was near the LOD and was waiting for a test of that. The next bar formed a double bottom with my entry bar. Hesitated moving my stop to the top of that first green candle. When the next bar didn't go lower, moved my stop to BE+2

Trade #2
Price made a HL and crossed the EMA. Got a long signal, and debated about taking it since news was in a few minutes. I thought to myself, "Not this crap again. Just take the fucking signal". I was expecting a test of the 1.4075 pivot, but wasn't patient enough. I had a hard target of 16 ticks, and when price went 15MFE and backed off, I moved my stop up to +10 to lock in something. Stopped out before the pivot was tested. +10 ticks.

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  #239 (permalink)
 Tiger45 
San Diego, CA, USA
 
Experience: Intermediate
Platform: Sierra Chart
Trading: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Today
6E: +$100.00
TF: flat
CL: flat

Month
6E: -$222.50
TF: -$20.00
CL: -$1000.00

YTD
6E: -$262.50
TF: -$20.00
CL: -$1000.00


Focused again on 1 instrument. My goal is to see if I can make a louse $100 a day.

Trade #1
Saw some support at 1.4065, then a HL at 05:30 which was right at an orange report. The next bar closed up and I entered long. The setup was valid on the 3 min chart, but looking at the 5 min chart (which I did after I entered) I realized this wasn't a great trade. Got slammed seconds after entry. -8 ticks.




Trade #2
Got a couple of failed long breakouts above the EMA. The 07:00 bar formed a gravestone doji and I entered short 1 tick under it. The trade immediately went my way, and I was sorely tempted to move my target to 10 ticks to break even on the day. Resisted the urge and was rewarded with +16 ticks.



At this point I decided to be a spectator.

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  #240 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Posts: 50,182 since Jun 2009
Thanks: 32,680 given, 99,542 received


Nice work, but I think it is the same video posted twice.

Mike

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