NexusFi: Find Your Edge


Home Menu

 





bwolf's ES Daily Trading Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one bwolf with 190 posts (469 thanks)
    2. looks_two ziggy123 with 4 posts (3 thanks)
    3. looks_3 Big Mike with 2 posts (0 thanks)
    4. looks_4 blackgrey45 with 2 posts (2 thanks)
      Best Posters
    1. looks_one snax with 4 thanks per post
    2. looks_two bwolf with 2.5 thanks per post
    3. looks_3 ES Jedi with 2 thanks per post
    4. looks_4 ziggy123 with 0.8 thanks per post
    1. trending_up 27,266 views
    2. thumb_up 489 thanks given
    3. group 19 followers
    1. forum 204 posts
    2. attach_file 754 attachments




 
 

bwolf's ES Daily Trading Journal

 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

Well, that was this morning (image below). I ended up trading in spite of myself and not feeling great about it. I took two trades that were justifiable. One when it broke out over 3920. Then I shorted it when it got to the opposite side, at the A-up level of 3937, which was a mirror image of what happened at the bottom and is often outside in as well on a day like today. Those two would have been okay, and they both worked out. But then I gave everything back and double what I made as it pulled back and I went long thinking it would go back up. Got caught in that interminable pullback and eventually gave up and waited for it all the way at the bottom, for the reverse of what I had done at the top, with a large order, much too large, and I caught the short cover burst up and ended up with a P&L 4x my previous high water mark for the day. But just too chaotic and everything I am trying to avoid. All of it outside of my stated ACD strategy.


P&L win-loss-draw: W
Trades: Several (no exact count) -- mainly 4 or 5 trade ideas
Round Turns: (don't have the exact count today)
Errors: All of it outside my plan
Cost of Errors: Everything I am trying to avoid
Risk Plan Adherence: No
Opportunities Available: Low
Event Day: No
Preparation: 1
Market Alignment: 3
Execution: 3



Visit my NexusFi Trade Journal Started this thread
Thanked by:

Can you help answer these questions
from other members on NexusFi?
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Futures True Range Report
The Elite Circle
Exit Strategy
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
GFIs1 1 DAX trade per day journal
18 thanks
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

Good day today.

P&L win-loss-draw: W
Trades:3
Round Turns: 8
Errors: 0
Cost of Errors: 0
Risk Plan Adherence: Yes
Opportunities Available: Decent
Event Day: No
Preparation: 9
Market Alignment: 10
Execution: 9




Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564


Two things stood out to me today: 1. On the daily chart ES closed on the 65% "last stand" 1/17 - 1/19 down move fib retrace level. 2. On the 4hr chart there is a triangle forming with a 4020 target for a short above.



Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

The only good thing about taking it counter to my own setup and the trend on my anticipated short was that I initially went small, smaller, then smaller. When it finally got someplace I could do it with a higher probability I added size and got where I needed. But this is the old me, not my ACD setup and outside of my sought-after sizing / DLL parameters.

After I got my proverbial A-Up long signal I was reluctant to launch a long so close to a strong resistance level. I was once again shown how reliable my base trade setup is and why I should really stick with it

Today was a damage control day, although going bigger when I am down is not good risk damage control, it's just P&L damage control which doesn't work well in the long run. Calculated risk though, given everything before me today. Not totally wrong. Good that I stopped as soon as I got where I needed to be.

P&L win-loss-draw: W
Trades:2 (with multiple transactions within each trade setup)
Round Turns: 20
Errors: 1
Cost of Errors: -2 Pts
Risk Plan Adherence: No
Opportunities Available: Decent
Event Day: No
Preparation: 9
Market Alignment: 4
Execution: 6







Checked later (no trading in between), and it backtested.





The weekly SPX options IV expected move is 4080 (upper). The Jan '22 DSTL for the entire move down is there too right now (my version at any rate). It's also the channel top where recent up moves have retraced. It'll be interesting to see what happens if ES gets up there this week.


Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

Had a problematic start with two of my accounts I had accidentally set to $20 max position loss vs $200. That took me into the red as I was fiddling around with it and the other two accounts went negative. I switched to Rithmic because I couldn't go in and make changes to the risk mgr addon during RTH (risk mgr lockout) and wanted to continue trading those accounts (which meant I wasn't using the info on my NT8 charts anymore --yeah, good reason to stop). I traded too large with no stop in Rithmic on one trade and that set me back about -20 ES pts. That loss got worse on two or three subsequent trades as I continued with the same size to get even. I took some time off, came back, and whittled away 75% of the losses and ended up red, but manageable (-12 pts). Continued trading 2 ES throughout, which is larger than what I have in my plan for this account size. Much larger, although in the large scheme of things 2 lots not crazy big but it's still way too big for what I am doing right now with these accounts and on a random chop day like today.

P&L win-loss-draw: L
Trades:15
Round Turns: 19
Errors: 4
Cost of Errors: -40 Pts
Risk Plan Adherence: No
Opportunities Available: Low
Event Day: No
Preparation: 8
Market Alignment: 5
Execution: 6




Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

Much better day today. Things unfolded as I was anticipating, even if I was not always exactly right. Enough to finish recuperating yesterday and move forward (+ 15 ES pts).

P&L win-loss-draw: W
Trades: 8
Round Turns: 13
Errors: 0
Cost of Errors: 0
Risk Plan Adherence: Yes
Opportunities Available: Good
Event Day: No
Preparation: 9
Market Alignment: 8
Execution: 8




Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

Was able to keep it moving forward today. I had one Globex trade last night, where I shorted right at the inflection point on a 3-day triangle on the 4hr chart. At the end of the day today I did two similar 2-ES, 8-tick short trades -- one when it reached 4070 right before the close at the A-up level where I expected a high probability, if very small pullback (detailed notes in reporting), and the other on the Intel reporting right after that, also 8 ticks (2 ES). The rest were judicious tries early on per my ACD and OR Grid setups (basically ACD outside in). I didn't make much progress on the morning trades and stopped after 3 or so scratches a small loss and a win. Overall good day. Kept very small, sat on hands a lot, and took only ones that seemed to have a high probability.

P&L win-loss-draw: W
Trades: 8
Round Turns: 12
Errors: 0
Cost of Errors: 0
Risk Plan Adherence: Yes
Opportunities Available: Low
Event Day: No
Preparation: 9
Market Alignment: 9
Execution: 9



Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

Moved it forward today. Improvised start on the 5:30 am (PST) news release that didn't work out (not in my plan). No panic as unplanned trades have low probability anyway. Just got back to my plan and went into the day with a long bias that worked out.

P&L win-loss-draw: W
Trades: 10 (numbering on my chart reflects main trades, not exact sequence; one small loss not showing on chart image. Details in the log)
Round Turns: 27 (MES & ES)
Errors: 3
Cost of Errors: -22 pts
Risk Plan Adherence: No
Opportunities Available: Decent
Event Day: No
Preparation: 8
Market Alignment: 8
Execution: 8







Next day notes to me on opportunities for this day:



Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564

Good day. Part of me wants to continue and look for possible end of day opportunities, but at the end of the day there is no way to make up any profit given back, the opportunities overall dwindled, and then there is not just the market out there, but also my internal market and divided attention as the day goes on and I have to deal with other responsibilities. So that's it for today.

Main theme today was VIX ripping up at the open as ES also moved up strongly. I was mainly short inclined, but did go with the long at the A-up. Very carefully, ready for the down move.

P&L win-loss-draw: W
Trades: 4
Round Turns: 18 (MES)
Errors: 0
Cost of Errors: 0
Risk Plan Adherence: Yes
Opportunities Available: Low
Event Day: No
Preparation: 9
Market Alignment: 9
Execution: 9






Visit my NexusFi Trade Journal Started this thread
Thanked by:
 
 
bwolf's Avatar
 bwolf 
Los Angeles, CA
 
Experience: None
Platform: NT8, TOS, Tradingview, BH
Broker: Ninjatrader
Trading: ES
Posts: 258 since Aug 2019
Thanks Given: 682
Thanks Received: 564



I had been hoping to share progress on my January month-end P&L since my mid-month reset. I had been making good progress. But it turned out not to be. Perhaps I was too focused on it and so undermined myself on the last day. Probably so.

Today was the day that happens to me on average twice a month. The day I blow my evaluation accounts. The P&L calendars I kept over the last two months show the same pattern. Twice in November. Twice in December. And twice in January. They also show the daily diligent implementation of my trading program, small profits, then one day when I get on the wrong side of a trend I have myself identified, even shared with others (on Twitter before the open today), and then nevertheless go against all my rules, the rules of my trade, and I get to a point of no return with the evaluation accounts I am working out of and then I go for broke, still on the wrong side of the trade. This is what we talk about as far as mastering the psychological side of trading. I am not going to dissect it here. I do that on my own. But I am going to own it here because if I bury it, then most likely I will keep doing it.

February is a blank slate. I know what I'm doing. I know my trade setup. This is my second month with the particular setup I am working on, the ACD setup, and it really isn't the setup that is failing me. It has shown a good edge. So I have to do better at following the rules without pre-judgment, the right sizing and stopping when necessary.




Visit my NexusFi Trade Journal Started this thread
Thanked by:

 



Last Updated on March 25, 2024


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts