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Johnny's Journal

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  #191 (permalink)
 tderrick 
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johnnycakes78704 View Post
No chance to replay CL last night. SXSW is in town and the wif wants to get out on the town as much as possible before Bump get's a real name and is born.


Ha!! lol


AJ
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  #192 (permalink)
 tderrick 
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johnnycakes78704 View Post
First trade of the day was a short. PA said short, so I did. Went 13 ticks in the money or so, but I got called away from my desk so I couldn't watch it to see everything happening. Closed out at +4 ticks. Not great, but not bad either. Crazy chop after that.

Do you keep a trailing stop to allow you to get away from the desk like that?


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  #193 (permalink)
 JohnnyAustin 
Austin, TX
 
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With the chart trader, I absolutely keep a trailing stop, at the desk or no. TF can be a beast, like today, with massive movements that can put a 1 point in the money position to a stoploss within 1 minute. It is much easier to trade with, and definitely generates greater profits. That said, there is no trailing stop that I've seen with the basic NT7. No automated features. Another reason why the license is SO worth it.

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  #194 (permalink)
 JohnnyAustin 
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First trade of the day is a short. Still kicking myself for not having the chart trader. I can see where the money is going and it is taking a serious cut into my profits. Soon enough.

I'm happy I had patience today. Lots of effort for the TF to reach the HOD and as soon as news of energy warnings came out, the markets tanked. They seem to be rebounding though. Good sell-off and am happy I got some out of it. Was watching the 2 min chart when the market tank happened, so I wasn't as quick getting into the trade as I should of been.

17 ticks on that trade. Trailing stop would have netted me ~23-24 I think.

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  #195 (permalink)
 tderrick 
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johnnycakes78704 View Post
First trade of the day is a short. Still kicking myself for not having the chart trader. I can see where the money is going and it is taking a serious cut into my profits. Soon enough.

I'm happy I had patience today. Lots of effort for the TF to reach the HOD and as soon as London closed, the markets tanked. They seem to be rebounding though. Good sell-off and am happy I got some out of it. Was watching the 2 min chart when the market tank happened, so I wasn't as quick getting into the trade as I should of been.

17 ticks on that trade. Trailing stop would have netted me ~23-24 I think.


Do you trade the London hours any?


AJ
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  #196 (permalink)
 JohnnyAustin 
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I don't. I like my sleep. And looking at the volume during those hours, it is pretty rare for something of value for me to see and get in on and out of. I'm usually up around 7:30 so can see things developing and get a market pulse before going to work. But SXSW has made me stay up later....so I'm sleeping till 8 and then heading out the door with no info as to what the market looks like for that day. Which is fine, as I can see what's happening when I get to the office.

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  #197 (permalink)
 JohnnyAustin 
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Next trade was a long and I got stopped out. Was unsure of the trade when I got into it as I see chop on the pivot point, but my signals indicated I should take the trade. So it would either tank or go higher. I lost the bet. Never got more than 2 ticks in the money. Given the chop, I extended my stoploss. Bad move. But...it has come back now and it headed up.

Have a few hours before I get to my final trade I think, which should be a short. We'll see.

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  #198 (permalink)
 JohnnyAustin 
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And yes, was a short. I figured it would go down, but not like it did. Admittedly, I had to look away for a bit and stick to the trade. It was a long trade, and gut wrenching, but when it finally went right, it went very right. I closed out too early though. I need to learn to wait for big money to come in and close out of their trade on larger trades like this, as this discipline would have netted me an additional point or so.

Trade was +51 ticks. On the day, am +46 ticks. For the week, +82. And that's on 7 trades, with 5 being profitable. Average winning trade is 16 ticks.

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  #199 (permalink)
 tderrick 
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johnnycakes78704 View Post
And yes, was a short. I figured it would go down, but not like it did. Admittedly, I had to look away for a bit and stick to the trade. It was a long trade, and gut wrenching, but when it finally went right, it went very right. I closed out too early though. I need to learn to wait for big money to come in and close out of their trade on larger trades like this, as this discipline would have netted me an additional point or so.

Trade was +51 ticks. On the day, am +46 ticks. For the week, +82. And that's on 7 trades, with 5 being profitable. Average winning trade is 16 ticks.


How do you know big money is coming in... T&S maybe?

Great trading, cat!!


AJ
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  #200 (permalink)
 JohnnyAustin 
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See the blue bars? Big money. Relating to volume. The average volume is what, 300-500 contracts per min bar? When big money (professionals) come in, the volume spikes to 1000+. The highest I've seen is about 4500 contracts traded in a 1 min period. Compare that to the ES, the number of contracts traded per minute average 4000-6000 and when pro's come in it can spike the number of contracts traded to over 40,000 per minute.

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