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bobs qwest to attain consistency
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bobs qwest to attain consistency

  #201 (permalink)
Market Wizard
whitestone, new york
 
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was thinking about those transition/crossover trades.Inevitably, they wont agree with the 3 min, as the 3 min needs to catch up.The 4 range might be of use there.On the 2 i had today, the 4 range was clearly long.I need to see this more, in order to determine anything.Maybe, the 21 has to thoroughly cross the 89, then pb.Come to think of it, did that happen today ?Ill check.At any rate, i will be watching!

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  #202 (permalink)
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bobarian View Post
12/21/2011
6 trades cl
-$160 net
trading during the week before xmas, i have the mindset, not to getto frustrated if the action is weird.But, so far , this week, its been ok.It honestly would have been a good week, minus the mistakes.All in all, im happy with the direction im taking, and the videos have really helped me to

Nice work on your journal. Just finished reading your entries, and i like what you are posting. I also trade the CL, but I use a 5 minute exclusively for my trades. I tried using a 1 minute chart, but I couldnt use it, I was changing my mind every 10 seconds. For others, it has the completely opposite effect. Thats the beauty of trading, many differnt methiods that all have the potential for success.

Intersting to see where you took your trades, and how they compared with my entries and exits.

Dindt trade the big climax right after the news. At 10;50, there was a good entry for a short at 98.58, would have hit there. Dont like to trade right on the EMA.

Good posting. Keep up the good work.

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  #203 (permalink)
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Just some hindsight thoughts. I didnt watch the market again today but wanted to jump in on this for a second....

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Last edited by PandaWarrior; December 21st, 2011 at 08:44 PM.
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  #204 (permalink)
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VinceVirgil View Post
Nice work on your journal. Just finished reading your entries, and i like what you are posting. I also trade the CL, but I use a 5 minute exclusively for my trades. I tried using a 1 minute chart, but I couldnt use it, I was changing my mind every 10 seconds. For others, it has the completely opposite effect. Thats the beauty of trading, many differnt methiods that all have the potential for success.

Intersting to see where you took your trades, and how they compared with my entries and exits.

Dindt trade the big climax right after the news. At 10;50, there was a good entry for a short at 98.58, would have hit there. Dont like to trade right on the EMA.

Good posting. Keep up the good work.

thank you Vince, i appreciate the feedback.I like the 3 min, as a trender.I used the 1 min when i traded equities for a while, so compared to the 4 range, its not hard.I am happy with this week, even though my p@l was flattish, and am looking forward to january.

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  #205 (permalink)
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Just some hindsight thoughts. I didnt watch the market again today but wanted to jump in on this for a second....

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thanks Pandawarrior, that -8 shouldnt have happened, and would have been a nice winner,if my sl was paced correctly.This week, i spent the majority of the time with my entry execution.As the 1 min closes, sometimes , they jam it, so it can be tricky.The last trade was a coil off the ascending 89, and worked nicely.Alot of close calls this week.It definately feels better though, each day.Those transition trades, im gonna watch them, but, gotta be careful.Thanks again for the help.I am really looking forward to January!Happy holidays!

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  #206 (permalink)
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12/22/2011
thursday
2 trades
+$70 net
another day of progress.Trade mgmt, is an area , to work on...will continue to watch
there was a transition short at about 8:45, and the 1st trade was a transition trade too.By this , i mean, it was the 1st pb to the mas AFTER the mas crossed

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Last edited by bobarian; December 23rd, 2011 at 09:04 AM.
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  #207 (permalink)
Market Wizard
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12/23/2011
no trades
market was dead.It was a different experience, knowing i wouldnt be trading, but watching the setups.Kinda fun.Did i say that? hehe.I got all of next week with the family, including 2 sick 3 year olds.I figure next week, i will do some replays each day of last month.January typically takes a week or two to start kickin, but i will be here, working.January is important, big time.This method ive been trading, works well.I have dialed in my entries, on the 1 min.There is a correlation with the 1 and 3 min.(logical) that i have noticed in the short time ive been with this method.When the 2 are alligned in the same direction, the trades seem better, and go longer.Ive also been keeping an eye on the 4 range, and its interesting to watch.As the 1 min sets up, the 4 range may not be set up.Its almost like watching a dance....we take the entry on the 1 min, and, on a good trade, the 4 range will mosey around to being in line.I dont want to make more out of that phenominom, than is necessary.Maybe over time, i will realize something useful...but for now, the 1 min is the entry chart.
Also, when the mas crossover on the 1 min, and we get that 1st pb to to either ma in the new direction, we are looking for a trade in the new direction.I think this can be a powerful signal, that has room,if the days range is decent.Im never thrilled to be trading into the lod or hod, so the bigger the range the better.The only thing, is , on that 1st pullback, after the mas crossed, the 3 min typically isnt in line yet.This doesnt mean we pass on the trade,obviously.At this point, i guess we look at the day, and assess what kind of day it is(We are constantly doing this anyway) and how much room we might have....However, just because there are pivots, lod, hod,etc, doesnt mean they cant break.In fact, a good signal is just the thing to break them.All of these thoughts , every day , now.Its like my mind is in overdrive.I must admit, its hopeful....However, ive felt this way before..2 or 3 times.Does it feel different this time ?yep, but , i will remain cautiously optimistic.
I will say, that , after 3 weeks with this method, i feel, if i just trade correctly, at the end of the week/month, everything will be fine.A huge problem in the past, is i would just over tweak, and go off on a 4 month holy grail search, only to end up exhausted.I know, its all part of the process..
just some random thoughts

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  #208 (permalink)
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Just my .00002 cents...

Hey, on the trade management I think you have a couple of choices and I wonder where you are heading:


1. Certain % of account tied to your stop which could be the lower/low or static. Like everyone typically does 2% etc.

2. Static TP

3. Off of higher Timeframe, S&R, PA then set up your targets.

4. Fibs, ext. or a retracement where it will hit some resistance

5. cross of moving average (fast or slow)

6. Oscillator exit

7. 2x, 3x stop etc..

8. etc.. etc..

I am curious what you are leaning towards...

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  #209 (permalink)
Market Wizard
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bluemele View Post
Hey, on the trade management I think you have a couple of choices and I wonder where you are heading:


1. Certain % of account tied to your stop which could be the lower/low or static. Like everyone typically does 2% etc.

2. Static TP

3. Off of higher Timeframe, S&R, PA then set up your targets.

4. Fibs, ext. or a retracement where it will hit some resistance

5. cross of moving average (fast or slow)

6. Oscillator exit

7. 2x, 3x stop etc..

8. etc.. etc..

I am curious what you are leaning towards...

good question Bluemele.I think profit targets, stop losses, atm strategies, are really a grey area, that each trader struggles with.For one thing, if the days range is tight, it would be logical for a 10 tick target.My stop loss is typically 8-10 ticks.So that would be 1:1.
If the day is trending, and the ranges are good, a 16 tick target is more realistic(or more).Also, a traders experience, is important here.As we get more experience(imo), sometimes , we can kinda see when a market is about to fall apart, or break out, etc.
This week for example, with the lower vol, and smaller ranges, i had a bunch of trades go 8 to 10 ticks, and come back and stop me at be.Not fun.
Yesterday, the 1st trade went +9, and back to be.The 2nd trade, i clipped at +8, and it went 30.I suspect , in a good vol day on the cl, a 16 tick goal will be fine.I dont want to overcomplicate, but, when its slow, a smaller goal is probably better.
The cl rolls over every month, so the vol gets split for 5-7 days, of the month.That effects follow thru.
A simple answer, to your question, is atleast 1:1

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  #210 (permalink)
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bobarian View Post
12/21/2011
6 trades cl
-$160 net
trading during the week before xmas, i have the mindset, not to getto frustrated if the action is weird.But, so far , this week, its been ok.It honestly would have been a good week, minus the mistakes.All in all, im happy with the direction im taking, and the videos have really helped me to

fot the 2 bad shorts, the 1min 89 was slopin up...no good

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