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Johnny's Journal
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Created: by JohnnyAustin Attachments:102

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Johnny's Journal

  #101 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Last week's volatility really made me skittish this week. Entered a trade this morning and as soon as it went south, I was out. Not making good decisions. Indicators show I should take the trade, and do, then on a minor retracement I get out at BE...

Need to focus and have confidence in my system. The methodology is still there but after last week, staying in a trade for a long time appears to be a weakness for me at the moment.

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  #102 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
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Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Entered a trade which almost matched up, in an attempt to predict the move as I lost out on a trend trade I saw developing earlier, and was stopped out. My mindset just isn't as clear as it was over the past few weeks. No indicators have changed, time frames haven't changed...nothing has changed but me and this is causing me to have failure.

I think I should take the profit where I see it. Earlier, there was a point where I had a 6 tick gain but I waited for it to go to a 10 tick gain thinking that the trend would continue but getting lost waiting for that move up and not seeing the retracement down.

And got caught out again. Great.

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  #103 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
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Posts: 362 since Dec 2010
Thanks: 116 given, 433 received


I'm done for today. Entered a trade which DID hit my indicators and rode it for a 3 tick gain which them promptly reversed on me for a retracement up and then back down again and now back up. I'm pretty annoyed with all this weird market action and will be on the sidelines for a bit.

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  #104 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
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Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Closed the chart and watched another one to see how it moves and my strategy is still on point. It just seems the TF today wasn't moving a whole lot today, no more than 4 points throughout the day and after 11 the range was less than 3 points. was able to end up with a point of profit for the day so I guess that's a good thing.

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  #105 (permalink)
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Austin, TX
 
Futures Experience: Intermediate
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Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Came in this morning like barnstormers trying to pick the exact moment of pivot. This failed for a stop hit. Took a step back, re-evaluated the scenario and ended the TF downtrend and then up swing with a 3.2 point gain. I'm viewing the 1 minute chart to see the reversals then going to the 5 minute chart to help alleviate the emotional rollercoaster. Viewing the professional bars helps as well. It seems the higher volume traders don't care about the 1-2 point gain when they can wait and get 4-5 points. I'd like to see Tf recover to the 24-25 area....and shall see if it does today.

Seeing alot of news saying that the reducing trading range is due to the S&P hitting Resistance and bouncing against it and that a multi-session downtrend will be seen soon.

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  #106 (permalink)
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Futures Experience: Intermediate
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Saw resistance at the pivot point with consistent bouncing against. Closed position for a 9 tick gain.

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  #107 (permalink)
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Posts: 362 since Dec 2010
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Resistance seems to be the pivot point. No bar has yet stayed above.

Edit, broke through resistance. Interesting note: when reviewing the ZLEMA, it appears that crosses above the pivot point for a few bars after the blue bar in the image before heading north again, even though the bar range for those few bars after the blue one remains in the same 2-3 tick range.

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  #108 (permalink)
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Nashville, Tennessee
 
Futures Experience: Intermediate
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Broker/Data: AMP / CQG
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johnnycakes78704 View Post
Came in this morning like barnstormers trying to pick the exact moment of pivot. This failed for a stop hit. Took a step back, re-evaluated the scenario and ended the TF downtrend and then up swing with a 3.2 point gain. I'm viewing the 1 minute chart to see the reversals then going to the 5 minute chart to help alleviate the emotional rollercoaster. Viewing the professional bars helps as well. It seems the higher volume traders don't care about the 1-2 point gain when they can wait and get 4-5 points. I'd like to see Tf recover to the 24-25 area....and shall see if it does today.

Seeing alot of news saying that the reducing trading range is due to the S&P hitting Resistance and bouncing against it and that a multi-session downtrend will be seen soon.


Someone told me to simply "Trade what you see". I used to listen to CNBC and think to myself " The Market
should go up with that news" and I would bias myself to the point I wouldn't even notice that the market
was going in the opposite direction!! I kept looking to trade in the direction I THOUGHT it should be going.

We, as retail traders, should be like surfers. We sit on our boards and wait for the big swells. No guessing,
No thinking, just reacting to the knowledge of what a "Good Wave" looks like from a distance.

My problem with indicators is that by the time they all match up, you may have missed the peak
entry point. By simply reading PA as it moves across an MA and / or prior SR, you can jump in on those "excelleration" points that zoom towards your profit targets.

Forget indicators for a while (save for one EMA ..20 or 50) and trade price patterns off your MA and SR.

and also... 1 min. charts used to make me very edgy. Too many pitfalls and falsehoods.
You know I love the 5 and 15 min charts. I have also heard of something like a 3 range for TF, if you like
a little quicker movement and don't like the big Time bars. 6 range is good for CL, but those moves are
massive. I was tempted to try the 3 range but I'm loving where I am right now...

Try simplifying ... It worked for me

If you are meant for this game, the disgust (which is good) will pass quickly and you will learn and then jump
right back on.

I only trade well, when I feel good about it. Isn't that strange?

Good luck, brother!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #109 (permalink)
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Futures Experience: Intermediate
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Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Made two more trades, 11 more ticks in profit per contract. Today is a good day thus far.

I'm watching another set up form now....will see if it turns long or not.

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  #110 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received


I keep getting caught in reversals today. Not getting stopped out as I am preempting the movement, but the market for TF is real indecisive right now. I'm turning a 6 tick loss into a 1-4 tick gain with the occasional 7 or 8 tick move here and there so I am up a point on the day....just not happy about how I'm acquiring it. I did miss the big 27 tick short because I was on the phone with a broker.

I've finished accumulation of funding and will be opening an account soon. TF, 1 contract at a time.

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