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Johnny's Journal
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Johnny's Journal

  #141 (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

Went long for my final trade. Waited for a set up and took the trade. Watching the Dow recover some I had an inkling the TF would recover some points and I was right. My main concern was riding the log beyond the 18 ticks I had in stoploss and into the green. Went long at 818.5. Closed out at 821.5 Should have stayed in the trade for another 30 ticks. c'est la vie, today is a day in the green. On the balance sheet, for today, I have +12 ticks. Not amazing, but am damn happy to be in the green after two stop's.

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  #142 (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

Got in the office a bit late today, but saw some big action on the TF. Saw PA pushing below the 20 and so I sold at 816.5. Bar went down about a point and I thought it was going to be a great short. Next bar gained 1.2 points, putting me 2 ticks out. I thought about closing the position, seeing as how quickly the bar reversed on me, but I trusted the trend and let it ride. Lo and behold, it went down to 812.5. I closed out at 812.6. 39 ticks on my first trade. Great day thus far.

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  #143 (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


So, I made a mistake. I waited a bit, took a long position in what I thought was a good trade, and it was was. Closed out of it at +6 ticks. Unfortunately, I had entered a stop manually as I wanted to tighten it up, closing out of the automatic stop. So when I closed out of the trade, the stop remained. I then walked away from my desk. Short was entered at 813.2, not to my knowledge. Fortunately, I came back and was able to see it and closed the short out for a 13 tick gain, just above the S2 line. The downside to this is that the stop trade has wasted my 3rd trade for today, so I'm limited to a 13 tick gain whereas if I could have identified a better set up, could have generated a greater tick haul.

That could have gone real wrong, but instead went in my favor. The Gods are smiling upon me today, or at least, for that trade.

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  #144 (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

Saving a link here that I saw in another thread here, I think in Big Mike's trading psychology thread.

http://www.tradewithprecision.com/files/MEASURE%20OF%20TRADING%20PERFORMANCE.pdf

Will be reading it in-depth when I have the time (and when, really, do I have the time for ANYTHING fun anymore!)

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  #145 (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

Ok, first trade of the day out of the way. Coming into TF today I saw alot of chop with a 4 point range. Wasn't about to even attempt to get in that, instead wait to get a clear picture of a solid movement. This happened at right about 9:35am with a solid long signal, so I went long. Saw some big selling pressure at the pivot point and big money pushed it higher. Doji appeared, indicating unsure market sentiment so I closed out. 23 tick gain.

IF i would have held it, it is now pushing an additional gain of 10 ticks or so, but given the chop of the previous hour, getting caught in that would have been the last thing I wanted.

As I'm typing this, it has again regressed to 3 ticks above my closing position.

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  #146 (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

Ok, this post covers my next two trades. With those trades, I'm done for the day and watching...and kicking myself for closing out of my final trade/short. Could have pulled out 3+ more points. Every indication said I should stay in, but instead I have to go to work. My first short of the day was a great trade.

1st short had a good entry and outstanding exit...at the time. Pulled out 15 ticks, from 810.9 to 809.4. Very pleased with that as you can see where I closed out.

2nd short was put in at 811.7 and dropped to 807.5, 42 ticks, but at an accident. I'm not quite sure how the short was entered as I don't remember opening the position and thinking about it, a stop position would have put me into a long position. I was reviewing a few 30 min, 60 min, and day charts and coming back to the 1min chart, the short was in. I should have held it but wasn't sure if the retracement was profit taking or an actual reversal. Need to modify this behavior with the stop's to take the doubt. Should I have stayed in as the TF went down to 802/803 ish area, giving me another 40-50 ticks. That said, today is a great day. Very, VERY pleased w/ pnl.

Learning more lessons to stay in past the doji and get the points left on the table. Watching 1 min chart to identify entry points, but seeing that shifting to a 2 or even 3 min chart will also help me avoid the natural uncertainly.
Paperwork for live acct went in today.

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  #147 (permalink)
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Nashville, Tennessee
 
Futures Experience: Intermediate
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johnnycakes78704 View Post
Ok, this post covers my next two trades. With those trades, I'm done for the day and watching...and kicking myself for closing out of my final trade/short. Could have pulled out 3+ more points. Every indication said I should stay in, but instead I have to go to work. My first short of the day was a great trade.

1st short had a good entry and outstanding exit...at the time. Pulled out 15 ticks, from 810.9 to 809.4. Very pleased with that as you can see where I closed out.

2nd short was put in at 811.7 and dropped to 807.5, 42 ticks, but at an accident. I'm not quite sure how the short was entered as I don't remember opening the position and thinking about it, a stop position would have put me into a long position. I was reviewing a few 30 min, 60 min, and day charts and coming back to the 1min chart, the short was in. I should have held it but wasn't sure if the retracement was profit taking or an actual reversal. Need to modify this behavior with the stop's to take the doubt. Should I have stayed in as the TF went down to 802/803 ish area, giving me another 40-50 ticks. That said, today is a great day. Very, VERY pleased w/ pnl.

Learning more lessons to stay in past the doji and get the points left on the table. Watching 1 min chart to identify entry points, but seeing that shifting to a 2 or even 3 min chart will also help me avoid the natural uncertainly.
Paperwork for live acct went in today.



So the second entry was an accident?? If not, what made you think it wasn't going long?

tia


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #148 (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

Yes, total accident. I've no idea how the trade was entered. I'm happy it was, but I would rather be waiting and looking for the next trend.

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  #149 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received


johnnycakes78704 View Post
Yes, total accident. I've no idea how the trade was entered. I'm happy it was, but I would rather be waiting and looking for the next trend.


It looked like an entry for a short off a MA bounce... I can't seem to trust those trades however. I have to have a SR line
around it somewhere...

good luck, brother. Let us know when you go live....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #150 (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 don't trust that trade either. I would not have chosen to enter there, especially after closing out of a position so early. There was no trend, no indication it would not be going higher, and would have waited for another trend to begin before getting back in.

Here's a bigger screenshot of the short. You can see the indicators I use there. Also, I checked my auto-strategy and there isn't any active one today.

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Last edited by JohnnyAustin; March 2nd, 2011 at 05:25 PM.
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