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Johnny's Journal
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Created: by JohnnyAustin Attachments:102

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Johnny's Journal

  #61 (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
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1.5pt gain thus far on ES. 17 points on YM thus far. Late start, super busy Monday so I've not had the time to get all the trades I wanted. 100% positive trades today and all long, none short. What the chart doesn't show is the huge amount of volume coming in for the long.

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  #62 (permalink)
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Long trade met all my indicators then the markets got all kinds of choppy. Set sell at a quarter point gain on ES, was filled several minutes later. 3 minutes later, market made a move up by a half point. I'm ok with that. Stayed in the YM trade, set sell for a 3 point gain. Am currently waiting for that to be filled.

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  #63 (permalink)
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Trade wasn't filled, market reversed for a 8pt loss. Completed a reverse on YM for a 2 point gain. Waited a bit and long signals emerged again. 10 point gain on YM as I waited long enough but didn't want to wait on ES so I got out at a .5 point gain.

Still a bit of trading to go. I still feel a bit skittish on YM mostly due to lack of exposure and not seeing how it trades on a consistent basis. It seems reversals are big and can easily put one out of the money.

Trend is up but market is choppy with a gravestone doji at SMA 20. Not getting back in till signals are hit again.

Signals hit again but I stayed out still a long(er) trend developed due to the high amounts of volume. No ES trade, made a YM trade for a 6 point gain.

PnL for today is...
Contracts per trade: 1
ES: +$112.50
YM: +$205
Gross: +$317.50
L: -$65 ($25 on ES and $40 on YM)
Net proft: +$252.50
Commission: $68.76
Daily PnL: +$183.74

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Last edited by JohnnyAustin; January 31st, 2011 at 06:06 PM. Reason: Added final trade for the day
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  #64 (permalink)
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Added an instrument, CL, as recommended by bluemele. Wow is pretty much all I can say. Here is the daily pnl thus far which bluemele informed me about in an earlier post. Is this an average trading day for CL? I think I'll add the QM and see how that moves in accordance after today's trading is over.

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  #65 (permalink)
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Got SWAMPED with work today. Still not done with it, but oh well. Couldn't focus on the markets for any length of appreciable time after my last post so I had to leave it be. I do see nice trending on the CL, but the price fluctuations are just crazy huge, at least for me.

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  #66 (permalink)
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Please be extremely careful with CL, it is not an instrument to find your footing as a trader.

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  #67 (permalink)
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Good morning Mike.Yes, I saw that. Too much volatility for me and too much risk. Sticking back today to YM and ES. Smaller, but better for me at the moment and in the short time period going forward.

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  #68 (permalink)
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One stop hit today and other minor reversals are eating away at me today. Signals hit, took a position, and about 3 minutes later it reversed on me to 5 ticks down. Still in the trade, which never hit my stop and is up to 3 ticks down. And now hit my stop. Awesome. Been stopped out twice in 1 hour. Just reversed on the trade...

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  #69 (permalink)
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Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Signal's hit, took trade. Rode it out for a 1.5pt gain. Sold at high (professional level) volume pattern bar. Since that bar was hit, price has recessed by 1.5 points.

YM is crazy today, jumping all over the place and I just can't get into the groove. Closing out on that instrument today.

Signals hit again, took trade, am now stopped out again! WTF!


Last edited by JohnnyAustin; February 2nd, 2011 at 01:22 PM.
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  #70 (permalink)
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Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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What's up Johnny?

You've received some good advice from some sharp cats.

Here is my experience.

I started out scalping the ES and lost 50% of my first account. It is very difficult to be consistent on.

I now trade the YM as I can have larger stops to stay out of PA combat which you are now familiar with. But. I would
not scalp this one either. Wait for the one or two decent trends that occur everyday bouncing between
prior S/R and the the prior day OHLC levels.... if you trade more than 5, you are scalping - very hard.

The YM also has an affinity for 25 block numbers, having more weight at the 50's and the 100's.

I haven't tried TF but that will be my next instrument when I can tolerate a decent stop witn $10 ticks.

I also would suggest looking at a 5 and a 15 minute chart with an EMA 20 and see how elegantly the markets can
move. If its choppy, its very evident on the 15.

So.... How far away are you placing your stops??


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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