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Johnny's Journal

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  #131 (permalink)
 JohnnyAustin 
Austin, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp and Zenfire
Trading: TF
 
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Posts: 362 since Dec 2010
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So...question for the readers. If you've been reading my journal, how do you think my trading is going? For those reading that have no opinion, please read and give me your opinion.

I've got a few weeks left on my demo account, the funds are available, and the account paperwork is being completed. Do you think I should go live within the next few weeks?

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  #132 (permalink)
 tderrick 
Nashville, Tennessee
 
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Why not... You must learn how you behave under fire.

Set yourself a drawdown max and get started. Like, if you lose a grand you'll stop and re-think.

who knows... you may just take off and never look back


good luck...


AJ
Nashville, Tennessee


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  #133 (permalink)
 Big Mike 
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johnnycakes78704 View Post
So...question for the readers. If you've been reading my journal, how do you think my trading is going? For those reading that have no opinion, please read and give me your opinion.

I've got a few weeks left on my demo account, the funds are available, and the account paperwork is being completed. Do you think I should go live within the next few weeks?

How long have you been trading your current method on sim? How many trades have you taken with your current method on sim?

Are you profitable on sim?

Are you able to trade cash the exact same way? Exact same stop size? Exact same profit taking? This is the million dollar question. The answer is likely no, which is why making money on sim is easy and making money cash is hard.

The only way to overcome the last hurdle is with practice (experience). Sim can only get you so far. The important thing to always remember after going cash, don't allow yourself to go in circles. Don't throw your trading method out the window after a bad day. Most likely the method is fine (if it was profitable during sim), the focus should be on your execution of the method -- that is where the mistakes usually occur.

So make sure you have ample steps in place to measure your cash trading vs your sim trading. Make sure you are trading sim in the exact same fashion you intend to trade cash. And make sure you are very well funded.

I look forward to your journey continuing on cash.

Mike

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  #134 (permalink)
 JohnnyAustin 
Austin, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp and Zenfire
Trading: TF
 
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Posts: 362 since Dec 2010
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Been focusing on Price Action about two weeks or so but have been viewing PA threads and seeing the research since about December. This week thus far I am up 156 ticks. Previous week, I was up 42 ticks or so. Before that, 110 ticks. Over the past three days of trading (didn't trade the 22nd) I've had 9 trades, 8 of which were profitable. Before that, my percentage of trades in the money has been around 75%, going back to the 14th of January or so.

Caution is not going to the wind. So long as my setup on the live account should theoretically be the same as on sim, the money aspect shouldn't change. It is still about winning, it is just to not think about the money aspect and try to win. The sum doesn't matter right? Zero-sum game and all that.

Like always, baby steps. Can't start out sprinting.

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  #135 (permalink)
 bluemele 
Honolulu, Hawaii
 
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johnnycakes78704 View Post
Been focusing on Price Action about two weeks or so but have been viewing PA threads and seeing the research since about December. This week thus far I am up 156 ticks. Previous week, I was up 42 ticks or so. Before that, 110 ticks. Over the past three days of trading (didn't trade the 22nd) I've had 9 trades, 8 of which were profitable. Before that, my percentage of trades in the money has been around 75%, going back to the 14th of January or so.

Caution is not going to the wind. So long as my setup on the live account should theoretically be the same as on sim, the money aspect shouldn't change. It is still about winning, it is just to not think about the money aspect and try to win. The sum doesn't matter right? Zero-sum game and all that.

Like always, baby steps. Can't start out sprinting.

These last few weeks are a trend traders dream...

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  #136 (permalink)
 JohnnyAustin 
Austin, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp and Zenfire
Trading: TF
 
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Posts: 362 since Dec 2010
Thanks: 116 given, 435 received

Stoploss was at R1. I saw a long forming this morning and I am kicking myself for not taking it. It rode all the way up to R1 and stalled there. Lots of long shadows forming showed me there wasn't much upward momentum. Retraced a bit then PA showed short. Shorted it after several minutes of watching it. Saw a dragonfly doji, exited out at a tick gain. $10 gain gross is better than any loss.

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  #137 (permalink)
 JohnnyAustin 
Austin, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp and Zenfire
Trading: TF
 
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Posts: 362 since Dec 2010
Thanks: 116 given, 435 received

For my next trade, I wanted to go long. Watched for a set up, went long. +11 ticks profit. I felt good about the trade. I watched for a wedge and knew there would be a breakout soon. Saw big money coming in on the volume chart and place a long on that bar.

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  #138 (permalink)
 JohnnyAustin 
Austin, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp and Zenfire
Trading: TF
 
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Posts: 362 since Dec 2010
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Final trade of the day. Missed the short but saw it coming back up across the SMA's. Bought at 813.5. It felt like a good trade, but a bit nervous and stayed in the trade despite the retracement to sbusequent gain and stalling of the price. I had the idea is was going to hit the intraday high previously hit at 816.5, which it just about did. Big volume came in, rode it up to where I thought the top was and closed out at 816.3. Was off the top by 3 ticks or so. Another good day. And in the black for the week. w00t!

3 trades, 40 ticks. Not too shabby methinks. That puts me at...196 ticks for the week.

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  #139 (permalink)
 JohnnyAustin 
Austin, TX
 
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Platform: NinjaTrader
Broker: Amp and Zenfire
Trading: TF
 
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Posts: 362 since Dec 2010
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Watched the TF fall quite a ways and seemingly hit bottom at 821.5. Watched 8 green bars formed afterwards. Took a trade at 822.2. Alas, the most "in the money" I got was 2 ticks. Stop was hit 3 minutes later. Felt good about the trade as there seemed to be some running room, but I was wrong.

I do see the short, but don't want to get into the wrong side, again, of the trade. TF has dropped about 10 points from its high today. Just hit S1. MA's were only 1 tick apart then the market then tanked. Never seen the MA's 1 tick apart before. The market hung around the current level for over an hour at the previous 821/2 level for an hour or more before a big move.

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  #140 (permalink)
 JohnnyAustin 
Austin, TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp and Zenfire
Trading: TF
 
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Posts: 362 since Dec 2010
Thanks: 116 given, 435 received


Stopped out again. I'm not upset. It is the nature of the game. Everything looked good for an uptrend and for the first time today, my SMA's crossed and I went long. Had 2 ticks, then 3, then 5, then 9. Went 11 ticks positive and I wanted to let it run and see how it went. Lost a few and thought it was a pullback of a few ticks. Next bar dropped and within seconds I was stopped out.

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