TF day trading - futures io
futures io



TF day trading


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one bluemele with 759 posts (1,373 thanks)
    2. looks_two vovan348 with 99 posts (57 thanks)
    3. looks_3 HighRise1202 with 77 posts (21 thanks)
    4. looks_4 Big Mike with 43 posts (74 thanks)
      Best Posters
    1. looks_one bluemele with 1.8 thanks per post
    2. looks_two Big Mike with 1.7 thanks per post
    3. looks_3 PandaWarrior with 1.6 thanks per post
    4. looks_4 vovan348 with 0.6 thanks per post
    1. trending_up 192,267 views
    2. thumb_up 1,786 thanks given
    3. group 65 followers
    1. forum 1,324 posts
    2. attach_file 239 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
 

TF day trading

(login for full post details)
  #491 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,839 received

Ok, let's see. Forgot to hit the recorder after I paused it.

Took 4 trades. Broke my cardinal rule!

Trades:
1. -.6 points, This was not an area!

2. -.6 points, Yes, again.... But, it looked so darn short!

3. -.6 points, Just got knocked out and I thought this was a deep retrace.

4. +2.15 points, This was a good entry, but poor trade management. I could have easily made another .7 points average had I stayed to where it was telling me. I saw some strength in a retracement though and fear took me to exit.

I could have easily stayed in the short. Until I get comfortable again keeping those then I will still be making ticks instead of points. I was clearly seeing the trend today which is short! Good job!

Also, I am getting more comfortable knowing I can just make it back....


Video

Attached Thumbnails
Click image for larger version

Name:	1.jpg
Views:	124
Size:	93.4 KB
ID:	38518  
Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to bluemele for this post:

Can you help answer these questions
from other members on futures io?
NT8 - Footprint Chart adding on code
NinjaTrader
Wrong tick size?
Treasury Notes and Bonds
 
 
(login for full post details)
  #492 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,839 received

Patience. I must work on my patience. Anyone have any recommendations?

I haven't been meditating, but I think EFT's could be in order.

Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to bluemele for this post:
 
(login for full post details)
  #493 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
Platform: MT4
Broker: IC Markets
Trading: forex trader
 
Robertczeko's Avatar
 
Posts: 139 since Jan 2010
Thanks: 219 given, 264 received



bluemele View Post
Patience. I must work on my patience. Anyone have any recommendations?

I haven't been meditating, but I think EFT's could be in order.

Hi Bluemele,
great to see your progress in positive way. Since yesterday I started to paper trade, but I overtraded little bit..how it happened to me? After so many weeks without trading I felt very happy and I had positive mindset expecting positive results.. beginning was fine, but then 1st loss, second, third, ....only chasing market without a clue. At the 3/3 of market session I finally realized, that I didnt read a market, but I wanted only see a signal no matter where, when. I guess that the ignorance of market mood is the worst behaving in trading, I dont meditate, or do something similiar to get in calm status. It helps me to realize in what mood the market is, then I could be very patient or prepared to act in a second. I hope that this will remain in my mind for longer time .

here are my hits from yesterday, I guess it is a better result than Charlie Sheen`s in hot shots 2

R.

Attached Thumbnails
Click image for larger version

Name:	vypis 11_5_2011.jpg
Views:	135
Size:	101.6 KB
ID:	38536  
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #494 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,182 since Jun 2009
Thanks: 32,681 given, 99,582 received


bluemele View Post
Patience. I must work on my patience. Anyone have any recommendations?

I haven't been meditating, but I think EFT's could be in order.

Name two or three specific examples of how your lack of patience has hurt your trading, and we'll go from there.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #495 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,839 received


Big Mike View Post
Name two or three specific examples of how your lack of patience has hurt your trading, and we'll go from there.

Mike

1. Exit too early on almost every trade. I convince myself that it was the proper area because quite a few are not as deep as possible.

2. Make all 3 trades within first 10 minutes of market open. Always having to be in on the trade, etc...

Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #496 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,182 since Jun 2009
Thanks: 32,681 given, 99,582 received


bluemele View Post
1. Exit too early on almost every trade. I convince myself that it was the proper area because quite a few are not as deep as possible.

2. Make all 3 trades within first 10 minutes of market open. Always having to be in on the trade, etc...

Some suggestions...

1) If you are trading more than 1 lot, put one on at regular spot, and then when you feel like you should exit with a small winner --- ADD at that point another lot. This will help your mind change habits. Another way to do this would be to simply prove to yourself that you are losing money by exiting prematurely, document at the moment you exit the trade the exact reasons you did so - and later review and confirm that that was the wrong thing to do.

You could set a concrete rule that every trade will either be a full stop or a full target, but such a rule should only be used for a few days or weeks to break this habit of exiting prematurely because ultimately you need to manage your trades after you've learned to overcome this.

2) Number two is easier. Just set a new rule that you cannot take another trade until at least 15 minutes or 30 minutes has passed. This will also help you to not prematurely exit, because you will know you are not allowed to get back in. Again, this is only to break the habit - but ultimately this rule cannot exist going forward. You need to simply have the willpower to do the right thing, and if you know that you are acting impulsively and overtrading at the open, then you have to simply think of that each time before you put the trade on, and ask yourself if you are repeating the mistake...

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #497 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,182 since Jun 2009
Thanks: 32,681 given, 99,582 received

BTW, these are simple suggestions but they usually work best. Keep it simple. You can also use positive reinforcement like if you don't take all 3 trades at the open and later feel it was overtrading/impulsive trading, then reward yourself with something that you are not allowed to have unless you hit this accomplishment. Doesn't matter what the reward is, so long as it is something you enjoy.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #498 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,393 received


bluemele View Post
Patience. I must work on my patience. Anyone have any recommendations?

I haven't been meditating, but I think EFT's could be in order.

Well I'm no expert to be sure....but I have that same problem, but I am getting better. I think the thing that has helped me the most was to really realize that impatience was killing my trading career. Impatience to get in and once in, impatience to get out. Both must be managed.

So I started focusing on one single trade set up and forcing myself to just take that one, no matter how long it took to set up, then take it and then walk away from the screen. This is NOT a recommended long term strategy, but almost every time I came back, I would be up or the trade was over....I am using fixed targets btw. Then I realized it was only a few minutes at most that I had been gone and the trade was just fine. So now I am forcing myself to just sit on hands while waiting for a set up, some times I actually sit on my hands, and once in a trade, I force myself to take the loss or the target. Whichever comes first. Thats hard and sometimes the PA tells me to get out but I have simply been taking the hits to just make sure I really honor the demand for patience. Lately though, I've started cutting those losers short, when PA says its over, its over and just get out.....But those are PA driven decisions, not emotion driven decisions.

Hope that helps...cheers....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Reply With Quote
The following user says Thank You to PandaWarrior for this post:
 
(login for full post details)
  #499 (permalink)
 heywally 
Pismo Beach CA
 
Experience: Intermediate
Platform: TOS, IB, Fidelity for 'swing' trades
Trading: ES, NQ, IBB, IWM, NG
 
heywally's Avatar
 
Posts: 160 since Apr 2010
Thanks: 80 given, 90 received


bluemele View Post
Patience. I must work on my patience. Anyone have any recommendations?

I haven't been meditating, but I think EFT's could be in order.

Haven't read everything here. One thing I've done and still do is to use ETF's, to take smaller positions but at selective entry points -- support -- and then be willing to buy more on weakness, up to a point, being willing to be underwater on the position if you have to be, at first. No stops, since you're managing your risk via trading an index, with smaller position sizing and high selectivity. Hold overnight if warranted. Chip out smaller profits on strength, rinse and repeat often, via intraday trade. Never build up too big of an inventory as a % of your total capital, always assuming there could be the kind of overnight disaster that closes the markets down. Of course, you're not going to hit any home runs with this method and you need a fair amount of capital to trade this way but it could allow you to get a better feel for the always changing market and it helps you avoid all of the frustrating chippy stop losses right before your over-sized position rockets higher. Talking long only unless things really go in the crapper .... anyway, not really pure day trading but a lot easier.

For the entries, you could do something like run a 2 minute chart with a 50 period MA, only buying after heavier selling, with some basing (maybe), after price moves back above the 50 MA.

Let's face it, buying the dip and selling the rip usually works in the long run if you are selective and keep your positions not too large.

"The Future Ain't what it used to be"
Reply With Quote
The following user says Thank You to heywally for this post:
 
(login for full post details)
  #500 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,803 given, 2,839 received



heywally View Post
Haven't read everything here. One thing I've done and still do is to use ETF's, to take smaller positions but at selective entry points -- support -- and then be willing to buy more on weakness, up to a point, being willing to be underwater on the position if you have to be, at first. No stops, since you're managing your risk via trading an index, with smaller position sizing and high selectivity. Hold overnight if warranted. Chip out smaller profits on strength, rinse and repeat often, via intraday trade. Never build up too big of an inventory as a % of your total capital, always assuming there could be the kind of overnight disaster that closes the markets down. Of course, you're not going to hit any home runs with this method and you need a fair amount of capital to trade this way but it could allow you to get a better feel for the always changing market and it helps you avoid all of the frustrating chippy stop losses right before your over-sized position rockets higher. Talking long only unless things really go in the crapper .... anyway, not really pure day trading but a lot easier.

For the entries, you could do something like run a 2 minute chart with a 50 period MA, only buying after heavier selling, with some basing (maybe), after price moves back above the 50 MA.

Let's face it, buying the dip and selling the rip usually works in the long run if you are selective and keep your positions not too large.

Well, this really isn't my deal actually. I used to trade EFT's and such, but focused on futures at the moment which makes that strategy a bit difficult. I am not going to change my strategy and stick with it. PERIOD. I see that as the #1 reason traders fail....

Thanks for the input though as I am sure you are right....

Visit my futures io Trade Journal Started this thread Reply With Quote


futures io Trading Community Trading Journals > TF day trading


Last Updated on July 12, 2012


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