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Johnny's Journal

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  #231 (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

I used the 70 tick chart again and it didn't steer me wrong. It shows so much more than the 1 minute chart that I think it is a very valuable tool to me. Not to be used independently, of course, but, for example, in the midst of a trend there are smaller trends and when used in conjunction, it seems to be a great addition to my trading method. I say that now, but we shall see how it applies more in the longer term.

My second trade was a short. EMA's crossed and I took the trade. Entry wasn't perfect, but I'm not aiming for perfection at the moment. My goal is to rebuild my confidence after a shaky week or so and this is definitely helping. Effort and dedication build on potential.

I entered the short at 799.5 and stuck through the profit taking to ride it down to 796.3. A 32 tick move makes me a happy man. Without the 70 tick chart, I would have missed out on ths move or my entry and exit would have suffered. Towards the right hand side, where I exited the chart, you can see my exit point doji's.

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  #232 (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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I'm going to experiment on my replay tonight. Didn't get to trade, or even see, any market action today so I'm going blind into today. Will be seeing how the tick vs min chart provides me with results.

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  #233 (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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Sorry for the long delay. The wife wanted to go out for dinner, so we made a trek out for a few hours.

My first trade of the day (evening) was a long. I watched the 70 tick chart and the 1 min chart to see the trade develop and am recognizing a pattern in the TF which I can capitalize on the 70 tick chart as it meets my rules that develops 2-5 minutes after on the 1 minute chart. I placed the long position, saw the trade develop and it paid off at + 23 ticks. That trade also reached my daily goal. Getting out at the point I did is because of the tick chart and time frame chart. I've seen price reverse many many times right before my signal is generated, signifying to me that once a series of candlesticks are seen, it is time to get out. 2 trades left.

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  #234 (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

Second trade was a short. On my 70 tick chart, it matched my signals. The most in the money it got was 5 ticks. I felt as though I should hold it more, but there was significant support at the 4-5 tick mark. Should have exited with the profit but I didn't and closed out the trade for -8 ticks. I rushed the trade, that's for sure and didn't wait for my proper set up to appear on the minute chart.

Lots of long shadows on my 1 minute chart. Seems to be a crazy day.

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  #235 (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

Another day looking at the TF 1 min and 70 tick charts. Take a look at the previous day on my first trade and you'll see it is almost identical in pattern.

Signals hit on the 70 tick chart, took a long trade and rode it up to 1 point in the money. It gave me some exit signals at +8 ticks but I hung on a bit too long to see if it would reverse on me and my comfort level was getting close to the edge so I exited the trade at +5 ticks.

2 hours before Wifey gets home. I need to get to sleep early tonight so gotta get the sim replay in before she gets home, as she deserves some undivided attention tonight, due to her promotion and raise.

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  #236 (permalink)
 Big Mike 
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Congrats to your wife, make her dinner.

Mike

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  #237 (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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I moved to the 1 min chart to place my trade as I am much more familiar with the entry points there and typical gains. HUGE moves up but I kept my cool seeing the shadows appear on most every bar. I felt pretty comfortable taking the trade and "slowing" things down to the 1 min time frame. Definitely am not out to scalp but to make good moves. Am not pleased about the previous long making just 5 ticks, but it is 5 I didn't have before.

Took another long signal and remembered my daily goal of 20 ticks. Thus far, I'm at 21, which keeps me above 20 ticks w/ my trading fee's. Seeing the daily goal come to me, I exited the trade taking the profit. As of now, I'm more interested in reaching my daily goal and protecting my capital. Only good things can come from that.

Thanks Mike. I've already made her dinner, and am breaking out the candles to go with her bath that I'll be drawing and massage oils later (as she is pregnant and on her feet all day). Last year was a REALLY rough year for us with me having to leave my investment management job and her being laid off in 09, only to just find a job in January. But for every low, there is a high.

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  #238 (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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Watching the rest of the day, I saw craziness and chop. Room for profit, sure, but it seemed to me to be another day where an additional trade could have threatened to take it all away so I'll stick with my 21 ticks, tyvm.

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  #239 (permalink)
 Big Mike 
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johnnycakes78704 View Post
Thanks Mike. I've already made her dinner, and am breaking out the candles to go with her bath that I'll be drawing and massage oils later (as she is pregnant and on her feet all day).

Congrats, good man Your first?

Mike

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  #240 (permalink)
 JohnnyAustin 
Austin, TX
 
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Posts: 362 since Dec 2010
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Our first, yes. And it is a boy. His name is Ilario, which is Latin for cheerful and happy.

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