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My way of trading - Robertczeko
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My way of trading - Robertczeko

  #91 (permalink)
Elite Member
FM, Czech Republic
 
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30/3

During my session I made only one trade, since yesterday I tried to be more careful and I was too much .
It appeared more occasions, but I was stucked and I was thinking whether to take the trade or not.

As I followed market, I had a clear opinion about direction...since morning slow downtrend, switched into a decent move
up supported by couple stronger demand areas. When it turned back down around yesterdays high, I was waiting
how the price will behave around closest demand area - it looked, that it will resist.

#1 trade - entry reason: bounce from EMA, demand area. After entering this trade I had couple seconds time to
observe, how it is developing, but then I was kicked out on moved stop loss.

After a while market finally turned into a next downtrend, I missed beautiful signal - I was angry, it happened because
of me, no reason why not take it.
And again, strong demand area hold the fall of price and rapidly turned up the price, but it would be a trade to a countertrend.

R.

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  #92 (permalink)
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Hi Robert,

When I use the term "Value" in my Journals, I am referring to about the 70% of where all that particular day's volume took place on a 30-minute time chart. Or really, 70% of the whole day's range where price had visited in a 30-minute chart - doesn't really matter which although I prefer price occurrence. It is really a market profile concept but basically it's nothing more than knowing where the bulk of that day's trading took place. Therefore, it enables the trader to measure how far price has travelled from Value so the trader can decide if what to do about it if anything.

Please see the attached image for more concrete idea on what it is.

But Robert, the only time I use the profile chart is to fill in the last part of my journal to distinquish between overlapping value areas from overlapping to lower/higher value areas because its too difficult to just eye it. I don't use the profile to trade at all, I use the 30Min chart and apply the basic concepts to that chart.

I hope this helps
spartacus

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  #93 (permalink)
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31/3


Hi all,

as I followed market yesterday, I didnt make any trade. There was only one valid signal to the long, but before it came I didnt catch the rhythm of market, price was in range so I rather stayed away and after the appearing signal came massive move up. I was more thinking about fixing my P/L reputation at the end of the month..And that was all I have done.

In next steps I will do some tests and complete review about my system, I think that it becomes more and more discretional, what is making more difficult for me to follow it. I need hard borders, otherwise I am too much busy with clarifying what to do and how to do it, instead of realising trades.

R.

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  #94 (permalink)
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still backtesting...

hi to everyone,

I am still digging in charts and it looks, that it will take more time than I thought. I have plenty ideas, but it is difficult to realize them because of lack of time.

I made couple changes, the biggest one is about no more drawing supply/demand zones..it was for me very hard to find the right one, maybe once I will be enough experienced to do it properly, but I found out that many of these areas are easier to spot with daily high, lows, premarket high, lows, etc. What I take as a advantage in this change is that I am waiting for signal around that level, I am not waiting to see that the price bounced from such area, which I mark up as supply/demand area and then wait for another action around that level..
another change is about definition of signals, that is my hardest part of backtesting - I dont want to take each bounce from this level or that level as a signal, so I am working on clear definition according to a status of market.
And one more change is around chart look, I switched on 5RB/10RB chart. It suits me after couple days, I was afraid, that I will not get used on it, but it is ok and maybe I will have chance to manage my trades for longer periods, on 3RB I had very often many signals to jump in, or exit the trade. Then I have started to use time charts, weekly, daily to spot long term s/r areas, but it might help me to analyze types of days too. I will try to put here more info, here is chart from yesterday..it was like bull and bear closed in one little room ( 1st hour range ) where stayed for all day, on finish came finally strong move up. I marked up my potencial signals, I am doing it during session, not after.


R.

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  #95 (permalink)
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I am a big boy :-) 10/4/ 26years celebrated

Hello friends, how are you doing? I am still observing as many journals as possible, it is great to see so many traders in really good condition with stabile results, it is inspirative to me.

I am still doing backtests, it looks that I will come back to my regular paper-trading in middle of april, but my vacation is coming closer and closer, so I will then stop trading again for couple days.

I found huge support in my wife, she didnt know, that I am still observing futures trading after my 2x erased account and it is great from her, that she is not against me in this case. When I mentioned about my non success in trading to other members of family, it wasnt so calm acceptation . It squeezed me for many months, but I got back my positive mind and I am looking forward for live trading.

As I was following todays market, I found many working signals, beautiful occasions, but I still cant get better RRR than 1:2, I need to work more on my technique to get as high probability as possible to survive and grow up with 1 contract. From beginning I will try to take all valid signals for last hour. If it will suits me, I will not make any changes, but as I count possible trades, it will be around 1-3/day.

Thats just couple thoughts from me. Have a nice day/good night

R.

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  #96 (permalink)
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Hi Robert

I hope things are going well and that you are making progress with the process of reviewing and reevaluating your system. I wanted to tell you that this may be a long process and to be mentally prepared for that possibility instead of allowing yourself to get too discouraged.

Happy birthday! And thanks for your kind words and support.

spartacus.

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  #97 (permalink)
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18/4

Hello my remote friends ,

thank you for visiting my journal, I am really glad to be here, I always had problem to share my ideas, or to draw knowledge and wisdom from others, but here it is different, no secret formulas, no puzzles, really clear way how to take informations and "easy" form to work with it.

Spartacus, thanks for your care about my progress, I am not going to give up this business, when I see how close I am to find the right path of becoming consistently profitable. With your "cook book" it is much more easier .

I started since today with paper-trading, still have lot of work behind scene , but it is good for me to stay in touch with trading feeling, it helps me to see all the moves in real-time. I need to better understand relationship between volume and price too. Ok, lets have a look on my progress in markets...

The opening of market was with sharp move down, it bounced from overnight low, first 30min candle closed with strong revers move. Next candle showed real short strength and the way of market was clear. After this candle we had last serious candle, which stopped this decent short. In the range of this candle continues market movement, I suppose another strong move if price will close out of this range on 30min chart.

19:40 market is still in range, but there is interesting shape of descending price, I see there a way of break up to yesterdays low. After a while I take a valid signal.
Reason of entry - strong reversal bounce from ema, possible exit PT 16ticks, PT yesterdays low 29ticks.
Price quickly jumped up after my entry, so I moved my original PT to second PT near yesterdays low, then I took stop loss for secure, that the market might become more volatile around my PT, to be prepared for fast move. But I clicked into chart and quit my position. Very sad, when I saw next move..I could achieve a nice profit.

Price twisted for a while around yesterdays low ( I mean friday) , I can clearly see a huge increase of volume, is it end of move up, or can we see there buyers pressure?

20:00 I didnt catch this bounce from yesterdays low in time, it was a nice scalp with PT on EMA level, it would be around 16 ticks. As I wrote couple times before, I am able to catch those moves, it is for me easy, but it is harder to react briskly.

20:14 another bounce from Y-low, I took this trade, with hope to reach my PT placed close to the top of range candle on 30min chart. Couple ticks before hitting my goal it turned against me, so I didnt get any gain from this move.

Thats all for today, I didnt find more trading opportunities.

You might see, that I changed my style of choosing trades, entry - exit strategy is still same, but I am really trying to find more in charts than that the indicator x and y crossed, so jump in ...I use it only for exits . My priority view is on 30min chart, I found in this type of chart really powerful informations with all s/r levels. I hope, that I am able to stay more objective and it is for me easier to get in market mood on a such high time-frame, thats what I always wanted. Now I need to become more familiar with that and develop better sensibility for it. Yes, I copied couple things from you, Spartacus..hope you dont mind.


R.

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  #98 (permalink)
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Robert,

You can copy anything you want - if you have any questions just let me know.

spartacus

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  #99 (permalink)
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20/4

hi traders,

I didnt come home in time yesterday, so I missed tuesday session. But I am glad I could be a part of todays "party" .

premarket showed enough strength to the long side, so after undecided opening it really rotated up, there were couple strong levels broken, around 111,50 strong reversal bar, which really turned mind of many traders...but no mine. When appeared another reversal bar to the long I was ready for action. Price was above 111, everything looks good, just missing visible buyers preassure.

#1trade - reason entry: bounce from ema after break of correction, PT16t ...but looking up to high of day PT40t. It didnt work at all.

#2trade - reason entry: same as #1trade, PT16. 1tick missed to PT, I saw still lack of activity in market - working on a more agressive defending strategy in a such market.

#3trade - reason entry: bounce from ema, but not confirmed! I was broke down by previous short move, my patiente in these days is not in perfect condition. PT16ticks, no way to achieve it.

#4trade - reason entry: bounce from ema, PT 30 ticks under high of day, but it didnt work.

#5trade - reason entry: strong reversal with close above ema, hma (for me sign of new vawe), PT34t - I wanted to place it more close under high of day, but forgot it. Finally I got some ticks in + .

I think, that I shot too many times, it could be only 3 trades, I will be more patient nextime, it is worth it. I am glad, that I am finally looking after higher targets, but there is still need to better understand the "story of market" .


R.

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  #100 (permalink)
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27/4


Hello pals,

after couple days I switched from backtest back to live charts and what a nice moves waited on us..wow . I was not very well prepared, but I grabbed some ticks into my pocket. When I looked on reports my first thoughts were about "scary day" , so many A - priority news, how could I benefit from a such day. I started couple hours earlier than usual, so my first trade was around 1 hour before FOMC.

#1 trade: entry reason - after strong reversal bar on 30min chart I took this bounce from overnight low on long side. Very small risk and nice reward space, I was aiming below yesterday settle ( PT 34ticks) , but I failed with moving my stop loss - too greedy!! I was very angry on myself, only couple more minutes and the original PT would be achieved. Result +24ticks.
After this trade I stepped back to see what will happen, but I lost internet connection.. When I returned, I could see how much it continued up, really nice move. After FOMC it made a range zone from my point of view and it was difficult to catch serious move. But I found at the end of session one place to enter the trade.

#2 trade: entry reason - bounce from yesterday high, but I waited after price went above overnight high and EMA, then I entered trade. Beginning didnt look as a perfect timing, on RB10 it was about to form reversal candle in opposite to my signal candle, but it hold it and then I got a chance to achieve my PT, it worked. +16ticks
I missed couple better signals, but I am glad, that I am able to spot them without longer thinking whether it is valid, or not valid signal.

I see in my evaluation the biggest problem with managing trades - I am still trying to reduce my discretionary approach. As I see on myself, I am still moving little bit here or there with my rules and it is destroying my previous work, progress. The worst situation is, when my little change worked, I take it next time as a standart. It was obvious in picking signals, but now I see it more during managing my trades. I am trying to figure out how to settle rules for managing trades, I should find answers in backtests, so I am looking forward to get more statistics..

I dont know if I will appear here during this week, I have to finish lot of work before we will leave our country because of incoming vacation. I am sure, that I will be back in second week of may. And then I will finally start my regular paper-trading.

Have a nice day

R.

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