Tiger's Price Action Journal - Trading Journals | futures io social day trading
futures io futures trading


Tiger's Price Action Journal
Updated: Views / Replies:22,633 / 258
Created: by Tiger45 Attachments:124

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 124  
 
Thread Tools Search this Thread
 

Tiger's Price Action Journal

  #31 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


Tiger45 View Post
You must have been reading my mind. I'm reassessing the 11 tick stop thing. I just picked that number because it's about .5% of my account, and I'm willing to get stopped out 3 times in a day before I call it quits.

There have definitely been trades that stopped me out before going on to run. Perhaps with such a small account, I'll need to expose myself to more risk initially. The 2 bar reversal I mentioned is a great example. Had I taken that trade, I would have been stopped out, but it went on to run 30 ticks.

The BE+1 comes mainly from my auto trail. I move to BE+1 when I get 8 ticks in my favor. I suppose what I'm looking for is to get swept away in the momentum on a nicely timed trade, and at least for now, I'm willing to have more scratches than I need.

BTW, I did get your email and will respond.

On the BE+1, I agree, I do that a lot as well. You trade with less indicators than I do, so I wait for my indi's to say 'bail' before I just let it run. The good run will come!

I don't trade on % of account etc.. I just use more of a base ATR, so if market is moving slow, I use 8 ticks on CL and tighten quickly, or if fast 11 ticks (that is why I wondered how you came up with that). Or, most times I just find the top and if my indi's say down, then I will just put it at the top + 1 or 2 ticks and see if it knocks me out.

CL is nice. I am just DEMO on CL and today picked up about +26 ticks or so. My NT simulator doesn't quite function properly on NT7 (what a surprise haha..), but CL is pretty easy to scalp compared to ES or others.

I responded as well. Thanks.

Reply With Quote
 
  #32 (permalink)
Elite Member
San Diego, CA, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received


bluemele View Post
On the BE+1, I agree, I do that a lot as well. You trade with less indicators than I do, so I wait for my indi's to say 'bail' before I just let it run. The good run will come!

I don't trade on % of account etc.. I just use more of a base ATR, so if market is moving slow, I use 8 ticks on CL and tighten quickly, or if fast 11 ticks (that is why I wondered how you came up with that). Or, most times I just find the top and if my indi's say down, then I will just put it at the top + 1 or 2 ticks and see if it knocks me out.

CL is nice. I am just DEMO on CL and today picked up about +26 ticks or so. My NT simulator doesn't quite function properly on NT7 (what a surprise haha..), but CL is pretty easy to scalp compared to ES or others.

I responded as well. Thanks.

I was thinking about scalping too. Yesterday I walked away with 4 ticks out of 5 trades. Instead of moving to BE+1 at 8 ticks, I could have just taken the 8 and been up 40 ticks on the day.

Had real bad internet issues this morning. Took 1 trade for 20 ticks, then moved to sim and got another 16. Then my connection got so bad I just gave up even watching.

Reply With Quote
 
  #33 (permalink)
Elite Member
San Diego, CA, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received


Not much to report today. I was having some bad internet issues early this morning. I run NT and TOS side by side, and both were crapping out on me so I knew the problem was somewhere in my office.

Trade #1

Price moving sideways under the EMA with the recent morning trend down. This was the same trade I was afraid of yesterday, so instead of trying to catch it on the downside, I placed a stop at 80.95 after the lower high at 05:45 which was 2 ticks below the open of that bar. Got filled at 05:50 then lost my internet connection. It came back a minute later and I was stopped out with a gain. +20 ticks.

Being in the market without an internet connection spooked me, so I switched to sim.

Trade #2
Entered a short stop order 2 ticks below the 06:15 bar, was filled and caught most of that bar down. +16 ticks.

After this, my connection became so unstable that I gave up. I had rebooted everything that ran on electricity in my office, but no luck. I think I missed the whole 07:40 bar. It was around 10am PST when it looked like I was back up, but I just watched after that.

My first trade today made me realize that I don't really understand my trailing stop strategy. What I think it should be doing is moving me to BE +1 when I get 8 ticks (which it does), then move me to +10 ticks when I have +15 (which it does), and to +15 when I have +20 ticks (which it does). What I don't understand is how I ended up with a 20 tick trade when my target was set to 25 ticks. In order to get my stop moved to 20, it had to hit 25, and I should have been filled and out at 25 ticks.

Attached Thumbnails
Tiger's Price Action Journal-cl-12-10-5-min-10_20_2010.png  
Reply With Quote
The following user says Thank You to Tiger45 for this post:
 
  #34 (permalink)
Elite Member
San Diego, CA, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Tried something a little different today. I modified my auto trailing stop to just go to +10 when I have 20 ticks, then the goal was to manage the stop bar by bar. I also changed my target from 25 ticks to 35 ticks, and monitored the 1 minute chart.

Premarket was up, so was looking to rejoin the trend. Got a sell signal at 04:50, but it was against the trend and too close to the EMA for me, so I just watched. Missed another sell signal after the close below the EMA. The big outside doji was a stop sign for me, and the next 4 bars were barbed wire.

A double bottom formed at 06:10, then price started a climb up.

Trade #1
After the close above the EMA, I used the 1 minute chart to time an entry. After 20 ticks, the auto trail kicked in and then I was stopped out. +10 ticks.

Price got very whippy after that, and it wasn't until the lower highs started forming after 07:15 bar that I was looking to get back in.

Trade #2
Still lots of overlapping bars, but except for the outside bear bar at 07:30, each bar formed a LL and LH. Again I used the 1 minute chart to time an entry. Got 20 ticks, then stopped out as the auto trail kicked in. +10 ticks.

The next 3 bars were overlapping, and I decided to take the rest of the day off from trading.

After looking at how the day progressed, and the fact that I was stopped out on 07:50 by 3 ticks right before a 200 tick move was kind of exciting. Obviously I need to work more on the mental part of this, because even if I held on to that short at 82.15, I'm sure I would have gotten out on the 08:00 bar retrace and not rode it all the way down, so it really wouldn't have mattered.

I hope all you better traders out there raked it in!

Attached Thumbnails
Tiger's Price Action Journal-cl-12-10-5-min-10_21_2010.png  
Reply With Quote
The following user says Thank You to Tiger45 for this post:
 
  #35 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

This is good stuff. I stayed out of the CL today because it seemed 'choppy' like the TF, but your charts seem so less choppy! haha..

One thing that you can do is instead of the 1 timeframe if you want more points, like you did with the 1M for entry, then maybe have a 3rd chart up with say 30M or 15M or even 1HR?

I think the key for long rides is you have to be willing to give up 200 ticks to make 200 ticks. There are also some really good ways to decide on your exit and not think about money or ticks. Like an ATR break (SuperTrend for example) or a trendline break, or an MA break (like the one you have on your chart, or a BB middle band touch or whatever.

If you just took a short on your trade and exited when it touched the EMA, then man, you would have had a very nice run.

I realize you have thought of these, but sharing some ideas that I have used in the past. The challenge with trading is most people (beginners) think it is all about the entry. In my opinion, it is mostly about the exit! So, I believe my entries are plenty good most times when market trends, however, my exits suck. haha...

Reply With Quote
The following user says Thank You to bluemele for this post:
 
  #36 (permalink)
Elite Member
San Diego, CA, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received


bluemele View Post
This is good stuff. I stayed out of the CL today because it seemed 'choppy' like the TF, but your charts seem so less choppy! haha..

One thing that you can do is instead of the 1 timeframe if you want more points, like you did with the 1M for entry, then maybe have a 3rd chart up with say 30M or 15M or even 1HR?

I think the key for long rides is you have to be willing to give up 200 ticks to make 200 ticks. There are also some really good ways to decide on your exit and not think about money or ticks. Like an ATR break (SuperTrend for example) or a trendline break, or an MA break (like the one you have on your chart, or a BB middle band touch or whatever.

If you just took a short on your trade and exited when it touched the EMA, then man, you would have had a very nice run.

I realize you have thought of these, but sharing some ideas that I have used in the past. The challenge with trading is most people (beginners) think it is all about the entry. In my opinion, it is mostly about the exit! So, I believe my entries are plenty good most times when market trends, however, my exits suck. haha...

The exits are REALLY hard. It's tough to watch profits evaporate. My long term thought has always been to trade 2 contracts, take the quick 10 - 15 ticks with the first, move the 2nd to BE +1 and let it ride. Easier said than done.

I am definitely focusing more energy now on understanding S/R levels and trying to have a clue as to where to exit.

Reply With Quote
 
  #37 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


Tiger45 View Post
The exits are REALLY hard. It's tough to watch profits evaporate. My long term thought has always been to trade 2 contracts, take the quick 10 - 15 ticks with the first, move the 2nd to BE +1 and let it ride. Easier said than done.

I am definitely focusing more energy now on understanding S/R levels and trying to have a clue as to where to exit.

Yes, you can see that with your eyes. Or a simple MP type indicator, but not sure on the value. For me, it flies through those areas about 50% of the time, so I don't see the point.

I debate on 2 contracts as my mentor taught me to do what you did.

contract #1 scale out at a certain criteria, MA cross, trendline etc.. (not just ticks)
contract #2 exit when you would take the opposite direction trade

I was jumpy today. I figured the market was heading short, but seems like it hasn't been going till later when I am done trading.

Reply With Quote
The following user says Thank You to bluemele for this post:
 
  #38 (permalink)
Elite Member
San Diego, CA, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received


bluemele View Post
Yes, you can see that with your eyes. Or a simple MP type indicator, but not sure on the value. For me, it flies through those areas about 50% of the time, so I don't see the point.

I debate on 2 contracts as my mentor taught me to do what you did.

contract #1 scale out at a certain criteria, MA cross, trendline etc.. (not just ticks)
contract #2 exit when you would take the opposite direction trade

I was jumpy today. I figured the market was heading short, but seems like it hasn't been going till later when I am done trading.

I took a quick look at some of my past trades, and there were at least 3 100+ tick moves that I was in a position for if I had not exited until a cross of the EMA. Interesting...

I'm taking today off - no trading for me. Not even sim. Have a good weekend.

Reply With Quote
 
  #39 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received


Tiger45 View Post
I took a quick look at some of my past trades, and there were at least 3 100+ tick moves that I was in a position for if I had not exited until a cross of the EMA. Interesting...

I'm taking today off - no trading for me. Not even sim. Have a good weekend.

Thanks! Yes, I think the key is understanding maybe something that is telling you that it could be a big run. Hitting pivots is never easy, but due to the way CL moves, it doesn't take a whole lot to get lucky! haha..

I created an automated strategy in NT about 8 months ago that used SuperTrend. If the plane was broken, I went short, if it came back, exit then long etc..

It was very profitable when the CL trended and through backtesting it was unprofitable as the CL ranged during certain periods of time for extended periods. I am somewhat new to CL (10 months), so I don't know the landscape on why/when, but anyways, you are right! You can get some huge runs!

I am part of a group of traders and I see those guys clearing 120, 140 ticks a day off the same trades that I take. They have been doing it a couple years longer and they tell me it just takes time. I think I also have a different personality type, but you seem like a patient enough guy to make it happen.

Have a great weekend and maybe we will finally get some nice sun!

Reply With Quote
The following user says Thank You to bluemele for this post:
 
  #40 (permalink)
Elite Member
San Diego, CA, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received


Made a couple of non-fatal mistakes today. Otherwise, a decent day. I decided to drop the auto trail stop, but kept the BE +1 move after 8 ticks. I changed my target back to 25 ticks.

The overnight session was starting to give back some of its gains, so I wasn't sure which way things were going. The big outside bull bar at 04:50 started a run back up to the EMA with a close above the EMA. The recent trend was still down, so I wasn't too eager to go long at this point.

The next 8 bars just chopped around the EMA as it started to flatten and turn up.

Trade #1
After the big bull bar at 05:55, I looked at the 60 min chart, which was still up and had just come off its EMA. Then I looked at the 1 min chart for an entry and went long at 82.50. Resisted the urge to lock in 10 ticks (yay). +25 ticks.

After the run, price moved in a 35 tick channel for over an hour. I saw the triangle forming and knew these things usually break to the flat side, but it was too close to the EMA for me. Turns out this did break to the flat side after all.

In hindsight, I see the double top price made at the HOD, and the first bar of that triangle I drew was a lower high. That, along with the price topping out at 83.19 was a sell signal that I should have obeyed.

There was another short signal at 07:55, after the failed attempt to recross the EMA. This was just above the open of the day, and for some reason I was ascribing mystic support properties to it, so I passed on another winning trade.

I hunkered down to wait for a pullback to enter the trend.

Trade #2
After the failed attempt to cross the EMA, followed by a trend bar, I entered an order near the pullback trend line and got a great fill. After 8 ticks, I went to BE+1 where I was taken out right before the move down. +1 tick.

I wasn't paying enough attention to see the other, better opportunity to short that leg on the very next bar after I was stopped out.

Overall I played on the conservative side. Right now I'm still more afraid of losing a trade than I am eager for a winner. Hopefully this frame of mind will relax over time. I remember reading somewhere that small, consistent wins builds confidence.

Attached Thumbnails
Tiger's Price Action Journal-cl-12-10-5-min-10_25_2010.png  
Reply With Quote
The following 2 users say Thank You to Tiger45 for this post:

Reply



futures io > > > Tiger's Price Action Journal

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
TMNT's Trading Journal: ES 5m candle, Price Action scalping tmntrader Elite Trading Journals 20 August 12th, 2011 04:37 PM
Reading Price Action GarryM Traders Hideout 69 April 22nd, 2011 01:29 PM
Books about price action? mindfultrader Traders Hideout 9 March 24th, 2011 11:25 AM
CW's ES Price action trading Journal cw30000 Trading Journals 25 September 28th, 2010 10:54 AM
Price Action Setups Zoethecus Emini Index Futures Trading 5 February 10th, 2010 11:51 AM


All times are GMT -4. The time now is 10:59 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.19 seconds with 20 queries on phoenix via your IP 54.90.207.75