Another OneUp Trader Journal Here! - futures io
futures io



Another OneUp Trader Journal Here!


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Shakexo with 39 posts (28 thanks)
    2. looks_two kls06541 with 6 posts (0 thanks)
    3. looks_3 Bonem4nWalkin with 1 posts (0 thanks)
    4. looks_4 blackgrey45 with 1 posts (0 thanks)
    1. trending_up 1,644 views
    2. thumb_up 28 thanks given
    3. group 8 followers
    1. forum 46 posts
    2. attach_file 25 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

Another OneUp Trader Journal Here!

(login for full post details)
  #31 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received


kls06541 View Post
What means MFI?

I am new here....

Sent using the futures.io mobile app

It's the money flow index.

What Is the Money Flow Index (MFI)?
The Money Flow Index (MFI) is a technical oscillator that uses price and volume data for identifying overbought or oversold signals in an asset. It can also be used to spot divergences which warn of a trend change in price. The oscillator moves between 0 and 100.

Unlike conventional oscillators such as the Relative Strength Index (RSI), the Money Flow Index incorporates both price and volume data, as opposed to just price. For this reason, some analysts call MFI the volume-weighted RSI.

Reply With Quote
The following 2 users say Thank You to Shakexo for this post:

Can you help answer these questions
from other members on futures io?
convert sierra chart graph to Ninja traders 8
NinjaTrader
SafeDayTradingorg
Trading Reviews and Vendors
TradingView like VOLUME indi for Ninja8 ?!?!
NinjaTrader
Realtest vs Amibroker
Platforms and Indicators
Effect of Bitcoin price on Altcoins
Crypto Futures
 
 
(login for full post details)
  #32 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received

Made $1025 on ES today. I know that if I didn't win the first trade I would have gotten chopped up by the indecision. I know there are some who like to wait for the first few minutes after open before they trade but I think that works best when swinging. I am only going for 4 points so I like to be in and out. There were so many tails on the bars after the first 5-10 minutes that I know this would have been one of those days where I lost big. But now that I am learning to make decisions quicker I avoided that.

Things I did right:

1. I took note of the run up the 1.5 hours before open, which turned into a trading range for 30 minutes so I knew there was some indecision. I waited until I had confirmation (at a resistance level for a whole hour, went below moving average, MFI was going down, and the bar was moving quickly in one direction with little retracement)
2. Used all of that information to enter and was successful.
3. I didn't let my runner retrace and stop me out so I closed it while still in profit which allowed me to hit my daily profit target and not have to risk taking another trade.

Things I did wrong:

1. Nothing

I live to trade another day!
Screenshot 2022-09-14 095006


Screenshot 2022-09-14 094245

Reply With Quote
 
(login for full post details)
  #33 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received



Shakexo View Post
Ok so I think I have read enough journals and I am ready to start my own. I am currently in week two of the 150k OneUp Trader combine and I have ended the first week $3,265.00 in profit. I picked the 150k combine because I liked the daily drawdown and daily loss limit that is available to me after I get funded.

My trading during the combine is slightly different than what my trading will be once I am funded. As restrictive as the combine rules are they really fit my trading style because I am a conservative trader. I am playing the long game. I do not scalp or take more than a few trades per day. I have an ATM strategy set up in Ninja Trader that I use exclusively. I don't really use sell/buy signals other than my own visual verification.

1. I trade ES only and my summer targets are 16 ticks/4 points using 4 contracts only. That nets me about $800 per day before commissions. My stop loss is the same. I NEVER move my stop even though I may cut a trade before it gets to the stop.
2. Since I am intraday trading I only look at the US market overnight high and low and no more than 3 days prior for other highs and lows based on price action.
3. I don't really use buy/sell signals or RSI (I may add this later) or MACD trends. I do have volume and session volume profile bars just to see what price point has the most activity in general and if that price is a price where contracts were mostly sold or bought.
4. I mainly trade the US open from 9:30am - 11:am. If I don't see good price action and direction I will typically wait until 12-2 PM and look again or I call it a day.
5. I only look at 4 time frames. Daily, 10 minute, 20 minute, and 30 minute.
6. I enter all my trades on the 20 minute chart.
7. I am generally looking for timeframe continuum on all those charts. So if the 10, 20 and 30 minute charts are moving in the same direction and the bar is "pumping" I will enter the trade.
8. I rarely enter exactly at the open but usually I am in a trade within the first 5 minutes of the opening. But ONLY if all the timeframes are agreeing.
9. Again I am only looking to get 4 points on 4 contracts. If I am wrong and get stopped out I don't reverse right away. I will increase the contracts to 8 to try to get my money back and reach my daily goal.
10. If I am wrong AGAIN I stop trading for at least an hour or sometimes for the rest of the day.
11. Having a day job helps because if I haven't entered a trade by 11am I usually have to stop anyway and start working.
12. I will continue this way of trading for the OneUp combine then adjust it once I am funded due to the scaling target requirements.

I think that's it for now. If anyone is reading this let me know what information or screenshots you would like to see. My Ninja charts are extremely bare and not that interesting but I will still include a screen shot for my initial post.

I am not sure if I will posting daily or weekly but I will try my best to keep in consistent.

Oh my how things have changed for me in just a few short weeks.

1. I trade ES only and my summer targets are 16 ticks/4 points using 4 contracts only. That nets me about $800 per day before commissions. My stop loss is the same. I NEVER move my stop even though I may cut a trade before it gets to the stop. (This is still true)
2. Since I am intraday trading I only look at the US market overnight high and low and no more than 3 days prior for other highs and lows based on price action. (This is still true)
3. I don't really use buy/sell signals or RSI (I may add this later) or MACD trends. I do have volume and session volume profile bars just to see what price point has the most activity in general and if that price is a price where contracts were mostly sold or bought. (I have added the MFI and the 20 bar EMA)
4. I mainly trade the US open from 9:30am - 11:am. If I don't see good price action and direction I will typically wait until 12-2 PM and look again or I call it a day. (This is still true)
5. I only look at 4 time frames. Daily, 10 minute, 20 minute, and 30 minute. (I look at 5, 10, 20, 30 and daily)
6. I enter all my trades on the 20 minute chart. (I now enter on the 5 minute)
7. I am generally looking for timeframe continuum on all those charts. So if the 10, 20 and 30 minute charts are moving in the same direction and the bar is "pumping" I will enter the trade. (I now look for technical setups using EMA, higher timeframes, support/resistance and confirm with MFI and volume)
8. I rarely enter exactly at the open but usually I am in a trade within the first 5 minutes of the opening. But ONLY if all the timeframes are agreeing. (First part is still true but I don't solely look for agreeance anymore)
9. Again I am only looking to get 4 points on 4 contracts. If I am wrong and get stopped out I don't reverse right away. I will increase the contracts to 8 to try to get my money back and reach my daily goal. (I haven't doubled up in a while. I usually will just take one trade to break even and another to get profit if I lose)
10. If I am wrong AGAIN I stop trading for at least an hour or sometimes for the rest of the day. (I struggle with this!!! I do not wait an hour...I hop back in like an idiot and lose 2-3 times as much...SMH)
11. Having a day job helps because if I haven't entered a trade by 11am I usually have to stop anyway and start working. (This is still true)
12. I will continue this way of trading for the OneUp combine then adjust it once I am funded due to the scaling target requirements. (This is still true)

Moral of the story is I will continue to adjust, adapt, and tweak my strategies to increase my probability and profitability.

Reply With Quote
The following user says Thank You to Shakexo for this post:
 
(login for full post details)
  #34 (permalink)
kls06541
New York
 
 
Posts: 13 since Aug 2022
Thanks: 7 given, 0 received

Can you please describe your entry setup in detail?



Sent using the futures.io mobile app

Reply With Quote
 
(login for full post details)
  #35 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received

I lost this morning. I trusted my trades but due to tight stops and the tight trading range it was in I lost. I have to start working now but I am not done trading. I will try and reenter and update my journal later.

Reply With Quote
 
(login for full post details)
  #36 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received

30 seconds after I posted my alert triggered and I ran back to enter the trade! I ended with $1287 today after being down over $3000 but look how many trades I took today! Don't be like me...WAIT for the setup.

Things I did right:

1. Set an alert to trigger after seeing the setup from the past bars.
2. Didn't let any trades go all the way to my stop. I closed them when it wasn't going in my direction.

Things I did wrong:

1. Took waaaayyyyy too many trades (as usual!!!)

I am happy I climbed out of the hole but today was a STRUGGLE!

I live to trade another day!
Screenshot 2022-09-15 104341


Screenshot 2022-09-15 102934

Reply With Quote
The following user says Thank You to Shakexo for this post:
 
(login for full post details)
  #37 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received

Made $2162 today which makes me about $2,458 away from my goal. I only have about 4 days to reach that goal before I get charged again. Even though I made over $2000 today I took more trades than I wanted to (no surprise there). But it's because I HAVE to reach the profit target in a certain amount of time. It's a self imposed timeframe but I really don't want to have to pay OneUp another monthly fee. Today was quadruple witching and the price action was very volatile at the open with no clear direction. I had a feeling it would be like that and when price is in a range with alternating red/green bars it's easy to get stopped out.

I tried out my newest strategy of cutting my losses even earlier and that helped TREMENDOUSLY. I will keep my stop loss the same but if the price is struggling to get to the breakeven I can cut the trade and reenter. That makes my losses smaller and less of a hole for me to dig out of.

Things I did right:

1. Cut losses earlier when the trade wasn't going in my direction.

Things I did wrong:

1. I know that I really should not be trading the first 6 bars unless there's a clear setup. However due to my time constraints I can't do that. That means I run the risk of entering trades in the middle of a range and losing.
2. Took too many trades because I had to dig myself out of another hole.
3. I really, really, REALLY have to make quicker decisions but I think that will come with time and experience.

I live to trade another day!
Capture

Reply With Quote
 
(login for full post details)
  #38 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received


kls06541 View Post
Can you please describe your entry setup in detail?



Sent using the futures.io mobile app

It's hard to describe my entry setup because it changes everyday. I basically use trend lines (overnight high/low, trend lines based on current price action, 20 bar SMA and technical setups like double tops/bottoms and buy the close)

I like Al Brooks price action trading so I use a lot from his method. He has a book and a trading course but honestly I've only ever watched his YouTube videos. I haven't purchased anything from him but even his free stuff is informative.

Reply With Quote
 
(login for full post details)
  #39 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received

I only made $800 today. I missed my first move trying to be early and thinking I was smart. I am a trend and momentum trader for a reason and trying to time the bottom or top of a trend doesn't make sense because I am not going for as many points as possible. I learned my lesson...don't enter the trade unless it's clearly going my way.

Also....I am hungover... Trading while hungover is the absolute worst...my mind is cloudy and I am sleepy which affected my focus. So I loss a few times before I won...and since I doubled up on contracts (which I did because I was pretty confident it was going in my direction.) I only ended up with $800.

ALSO....OneUp Trader's analytics dashboard has been messed up for a few weeks. So I wasn't really checking and instead just focusing on reaching the profit target. Well it turns out that when I reset my balance it reset EVERYTHING including the 15 trading day requirement. So here I am thinking that I only had 4 days left and I have 9 days because the day I reset it reset everything to day 1. So now I have less pressure and more time to make the profit target.

Things I did right:

1. Cut losses early. If the trade goes above then slips back to breakeven I cut the trade and reenter.
2. Won my money back after being down.

Things I did wrong:

1. Trading while hungover. All I could think about was needing a nap and I couldn't really focus.
2. Loss the first trade only because I was impatient....no other reason. Because my stops are pretty tight if the trade isn't going in my direction it gets too close to my stop. So it's better if I wait until it's clearly going in my direction so that I don't take much heat.
3. Lost the other trades because I was rushing so that I could hurry up and go take nap.

Ending the day less than $2000 away from my profit target! But now I have more days to get there!

I live to trade another day!!

Reply With Quote
The following user says Thank You to Shakexo for this post:
 
(login for full post details)
  #40 (permalink)
Shakexo
Philadelphia, PA
 
 
Posts: 39 since Aug 2022
Thanks: 1 given, 28 received


So I loss pretty bad today. My largest loss to date. I don't think I am going to trade right at the open anymore. Al Brooks always suggests to wait for the first 6-10 5 minute candles to close before getting in a trade. And every day for the past few weeks I have been getting chopped up at the open. At the open the market hasn't picked a direction and it's easy to get stopped out.

Because I needed to start my day earlier I was trying to hurry and I don't think that helps me. If the setup isn't there it isn't there and because I lose I am waiting until 10 anyway to try and get my money back.

I've attached a screenshot of what the market did this morning and the trading range was so tight and the candles alternated so I had no business trying to trade it.

Things I did right:

1. Nothing

Things I did wrong:

1. Didn't wait for a clear setup because I was scared I would miss the move.

So no more trying to force trade just because I want to be done by a certain time.

I live to trade another day!
Capture

Reply With Quote


futures io Trading Community Trading Journals > Another OneUp Trader Journal Here!


Last Updated on September 30, 2022


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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