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Johnny's Journal
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Created: by JohnnyAustin Attachments:102

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Johnny's Journal

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

Pivots

When you have time , would you explain to me what you and Mike were taliking about with the R1, S1
bits and Cash vs Globex calculations?


What is the benefit of using a formula versus hand drawn SR lines from prior days PA. ( I assume
R1 / S1 mean support and resistance pivots)

Thanks for your time!!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #152 (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

Resistance 1/2 (R1/R2), pivot point, and Support 1/2 (S1/S2). Instead of hand drawing them, they are automatically created on my chart.

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


Trade well, my friend...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #154 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
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JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

1st trade, stopped out. But I broke my rule and that's why. I think a top of 824 has been reached today as I saw significant selling pressure there and a big down bar. two more too. Although...looking at it, I see another reason the trade was a mistake. Several hammer candlesticks with long shadows, indicating that while pressure initially pushed it down, bulls came in to push the price up. And then there was the doji, which showed indecisive market sentiment.

Watching now, I see a classic evening star. Am not trading the bull, will wait for my set up to perfect itself.

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  #155 (permalink)
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Austin, TX
 
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Posts: 362 since Dec 2010
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Second trade was a LONG one. And it was a long trade too, btw. Saw a move and attempted to get in twice but it moved up too fast for me to get in on it. I was trying to buy the bid both times which failed. Finally, I bought market, the last thing I want to do to get into a trade. Then it reversed on me to R2. I knew the trade was a good one, just that it was choppy and needed to clear out of that for a good swing up.

I used a 1 min chart to get into the trend and then switched to a 2 or 3 min chart (varying) to ensure I didn't get caught out. Stayed in the trade for 90 minutes and racked up 3.3 points of profit. Saw it start coming down and my trailing stop getting tighter and tighter. I closed out after a few ticks of regression and a longer than normal period of chop.

Looking at my trading metrics, it gives me a pretty good breakdown. My average long is 2.3 points. My average short is 2.7 points. The average trade (this week) is 2.5 points. Average losing trade is 0.9 points. max consequential winners is 7. Consequential losers is 2. Largest long trade this week is this one, at 3.3 points. The largest short trade is 4.2 points. The average time in the market per trade is 22 minutes. 34 minutes for the long and 8 minutes for the short.

Weekly tick net totals thus far
Short: 98
Long: 74

And 73% profitable trades thus far.

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  #156 (permalink)
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JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
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Just two trades today. Was very busy and missed the entry point for the trade. Looks like I didn't miss much as it was lazy trending within a 3 point range. I also just finished the wire transfer to fund the account.

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  #157 (permalink)
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Honolulu, Hawaii
 
Futures Experience: Intermediate
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Exciting! You seem to be enjoying the TF!

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  #158 (permalink)
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JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
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I am generating better results than the ES, that's for damn sure. Thank you for the advice, much appreciated. Now...to ensure I retain the same profitability as sim. We shall see. I am definitely excited to begin trading. My main worry is keeping a cool head and remembering it is all about the trade as the dollar amount is inconsequential.

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  #159 (permalink)
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Posts: 2,547 since Jun 2010
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Yup. You got it.

I believe the next time I go live, that going live will not be the issue. I have ripped apart my guts and redid my trading technique, so going live will be the easy part.

But, it seems I may be a bit further away then I wanted to be.

Good fortune to you on the live trading.

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  #160 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
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JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received


Looking at the live trading today. No sim, full on live. Sticking with the three trades per day rule. Sticking with every rule actually. Paper traded today, actually on paper, and walked away with a 3.5 point gain on the short. This puts me at 207 ticks for the week. I think this is pretty damn good if I do say so myself. Now...to keep this working, that is the challenge on my live account.

Definitely seeing some jitters, but if I forget about the $, they go away. Focusing on the trade to ensure the best possible success rate is key.

Thanks Blue!


Last edited by JohnnyAustin; March 4th, 2011 at 03:28 PM.
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