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TF day trading

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  #971 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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rwhitt View Post
I trade TF as well and recently have been profitable by eliminating stops, or rather, using the NQ in the opposite direction as a type of a stop. It has helped me eliminate losers in TF and stay on a trade while the bots are doing the stop and run.

Great! Glad you are profitable. Please share a chart so we can all learn.



(Sorry, just wanted to play with that one.)

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  #972 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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I really enjoyed this video shared by @GridKing

Legendary floor trader William Greenspan - Day Trading Made Simple - YouTube

Minute 9:00 is especially good.

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  #973 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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Posts: 2,547 since Jun 2010
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Ok, I have become much more consistent since June 2, 2011.

Looking back at my vids and my thinking, I stopped being a VICTIM about this date. So, I am going to continue this consistency.

The funny thing is, June 2 is about the time the big bull started running out of air. hmmm....




So, will I find that I am break-even during non-super volatile ranging periods or have I turned the corner? Interesting.

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  #974 (permalink)
 PandaWarrior 
In the heat
 
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I am discovering that I like gravity as well. Translation; I am beginning to really like trading shorts. Those trades seem to happen much faster. That being said, I think the natural direction is long. Especially for equity products as almost 100% of the retail public go long exclusively.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #975 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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Posts: 2,547 since Jun 2010
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PandaWarrior View Post
I am discovering that I like gravity as well. Translation; I am beginning to really like trading shorts. Those trades seem to happen much faster. That being said, I think the natural direction is long. Especially for equity products as almost 100% of the retail public go long exclusively.

You know, I never thought about it that way.... CL I think you tend to have less dumb traders, but I guess Mutual funds and what not still do the OIL in whatever form. ES, TF etc. you are right, the traditional thinkers will always like LONG.

Good point. Long bull's, short shorts.

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  #976 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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Posts: 2,547 since Jun 2010
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Today was my first day back at the live market (besides once last week) in a long time. I am trying the new CQG and it doesn't seem to flow the same as zenfire. Zenfire jumps around a lot more whereas this sits in place considerably more. I am not sure what is better as I am used to Zenfire right now.

Took 3 trades. My eyes were burning a little and I have a bit of an allergy attack last night (non-allergic rhinitis) so still dealing with a little bit of sickness. I decided to stop because my brain wasn't clear and I probably could have chosen to just rest today but I decided to make it happen today.

Emotionally I am numb to trading at this point and especially with 1 contract. My anxiety grows lower each and every day and being right is less important. My totals to go live are nowhere even close, so I have a long journey ahead. No more breakeven commission churning.

 
Code
11/7/2011	
1	TF	-0.5	0.0	Stopped out quickly for a retrace.
2	TF	-0.5	0.0	Stopped out quickly for a retrace.
3	TF	2.4	-0.6	Good trade, seemed like decent long was coming which I was correct.
Video

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  #977 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
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2 steps forward, 1 step back!

Ok, I just wrote an entire long post and for some reason my browser just decided to refresh and delete it all!

Issues with today:

1. CQG datafeed is a bit funky to me. This is new to me trading it and I may ask AMP to go back to Zenfire. (blame, justification)

2. I could not get filled today. This forced me to chase chase chase. It cost me big. (blaming, justification)

3. I was stuck on thinking it was long today! The longer term charts were saying long to me, but really they were saying 'ranging' and I wasn't listening. I have to remember that there are long, short and going nowhere days. Today was short, but the longer terms were saying 'ranging' or possibly long to me.

4. I didn't reevaluate after a bit of time in the market. There was a clear deep retrace (where my exit for the day could have been) which lined up nicely for a 23% pivot which meant it is headed to the 50%! I didn't realize that until I was almost at the 50% and then had I been trading would have taken this trade as I called it out while my video was being made. I would have given 3 gifts just prior to this though, so...



5. I am doing my best to hold trades for the longer term. Today it cost me big, but I wasn't trading what I saw and I was ignoring the clear exit signals because I was pushing myself into the realm of HOLDING TRADES! Well, I got to a state of uneasiness by my Drawdown (1.15K) but considering a 300K trading account that is minimal, but compared to my winning days it is 4x-9x!!

6. I felt a bit of anxiety when I had so many losers in a row. It was a clear signal to stand up, walk away, reassess and trade, but I kept telling myself, "You will miss it!".....

7. Changing my style to take longer runs is becoming a never ending quest of losing days. I am for some reason just terrible attempting those runs or staying in them long enough for them to make it happen. I am stuck... I did 3 weeks of assessments and by tightening my stops and TP's, I ended up giving up about 11 points over 3 weeks. Not major, but sizeable. Today my target was above price and obviously it never got there but I kept the vision, so I guess maybe that is a good thing? I dunno.

8. I didn't take trades at major areas. That is something I know that will cost me. The real trick is to only take trades at major areas and then HOLD THEM!!! I take trades at every area, try to hold them and then . That was my big issue today in that my first few trades were not even at an area or a clear pullback.

9. Emotionally I am not distressed over today. I can handle it, but I do not like having these days obviously, but I realize that is part of growing up as a trader.

Video

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  #978 (permalink)
 vovan348 
Moscow
 
Experience: Beginner
Platform: Trade Nav., NinjaTrader
Trading: ES, TF, 6E
 
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It was painful to watch your video. How much is enough for you to take profit?

Let's say you got long and it hit your target with 5 points of profit, but it's gonna go right through that level for another 5 points until next retrace. Would you be happy with your trade? Would you say I took profit too early again?

I'm just trying to understand what kind of profit you are holding for. Maybe problem is not holding your trades to target, maybe problem is your target?

You know better than me that some days you just not gonna have those moves. Or you are gonna get moves of 2-3 points then come back take you out with BE+1 then you back in... Maybe it's better to take 2-3 points before major retrace and then reenter at the end off that pull back?

Just some thoughts!!!

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  #979 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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vovan348 View Post
It was painful to watch your video. How much is enough for you to take profit?

Let's say you got long and it hit your target with 5 points of profit, but it's gonna go right through that level for another 5 points until next retrace. Would you be happy with your trade? Would you say I took profit too early again?

I'm just trying to understand what kind of profit you are holding for. Maybe problem is not holding your trades to target, maybe problem is your target?

You know better than me that some days you just not gonna have those moves. Or you are gonna get moves of 2-3 points then come back take you out with BE+1 then you back in... Maybe it's better to take 2-3 points before major retrace and then reenter at the end off that pull back?

Just some thoughts!!!

Good point. My target was a fib ext 100% and a 89% retr (I think if I recall?) or something like that. I was more holding for a fib target then a MACD target.

I agree with you. I locked in my brain it was long, but my biggest challenge is changing my mindset that it will go short. I still see LONG on the trend though, so...?

I like the 2-3 point runs, get out, but getting back in is the hard part.... haha....

Yes, today was difficult for me to watch as well. It was harder to go through it. haha...

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  #980 (permalink)
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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Posts: 2,547 since Jun 2010
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Well, I really think there was one good trade today. Maybe 2.

The double bottom looked really good after the fact, and it did stall out, but boy it was like a 747 coming down to land without any fuel left. So, considering the speed it left me a bit cautious on the entry and then I decided that I still couldn't decide the direction.

Days like this are almost as challenging as the never ending up up up days. I would say these are worse actually.

I have a feeling that not a lot of profit will be made today by many people, but will be impressed to see it. Doing a 5 tick stop today was a loser, but I would have been losing no matter what.

Tough tough tough day.

I made 8 trades, and several that didn't get filled. I had two go for greater than 1 point and the rest very little. I picked a great short for my last trade but was a little late in getting into it. It came back and just knocked me out and moved a bit fast for me to get back in. So I let it go. I am letting today go...

So far, not doing so great in the 4:30am market! Yesterday I ignored my indicators, today was just a tough day.

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