Break Even Trader - Trading Journals | futures io social day trading
futures io futures trading


Break Even Trader
Updated: Views / Replies:4,930 / 33
Created: by Silver Dragon Attachments:17

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 17  
 
Thread Tools Search this Thread
 

Break Even Trader

  #11 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Lunch Trade

Todays profit from lunch trade

FX EURUSD
Live Trading
10 pips
$10 profit
1 contract
Position Type: Short
Enter: 1.4276
Exit: 1.4266


Notes:
This was a support break. I was expecting it to fall to 1.4250 where the next major support level was. I will try to understand why this did not happen later. Could be because of the volatility. Ironically I missed the bigger move on the other side of the this trade while formatting the attachments.

SD

nosce te ipsum

You make your own opportunities in life.
Attached Thumbnails
Break Even Trader-profit-trade1-4-7-11.png   Break Even Trader-trade1-4-7-11.png  

Last edited by Silver Dragon; April 8th, 2011 at 07:59 AM.
Reply With Quote
The following user says Thank You to Silver Dragon for this post:
 
  #12 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Lunch Trade Analysis

The reason it didn’t go to 1.4250 (my guess) is because buy programs kicked in because a pennant was forming and the volatility helped with the follow-through.


Other thoughts

Chart formations on a range chart are harder to see. When I looked at a 5 minute chart it was easy to see the pennant formation.


I did jump the gun on the trade. Should have waited for the bounce and the confimation bounce on the 89 SMA.

See chart for other notes.

I did find out today that if you have a strategy open on a chart you can not see the price markers.


SD

nosce te ipsum

You make your own opportunities in life.
Attached Thumbnails
Break Even Trader-4-7-11-pennant.png  
Reply With Quote
The following 2 users say Thank You to Silver Dragon for this post:
 
  #13 (permalink)
Elite Member
St. John's
 
Futures Experience: Intermediate
Platform: Ninjatrader, IB
Favorite Futures: stocks
 
Posts: 5 since Jul 2010
Thanks: 3 given, 2 received


Great posts. I look forward to continuing reading your journal. The intro was almost verbatim of my trading history.
A few months ago I discovered forex too. Time frames for trading are perfect for my daily/nightly schedules.
One question, what broker do you use for forex trading?
do you keep a separate forex account and stock account or combine the two?

Keep up the good work.

Frosty

Reply With Quote
The following user says Thank You to frosty for this post:
 
  #14 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Thanks Frosty! I use MB trading. Commisions are low, 1.20 or less round trip. The trade I did today was like .83 cents. Crazy, but I am not going to complain. The spread during high volume hours is 1 pip. I always get a good price.

Currently I am not trading stocks. Focusing on one thing to perfect my skill. Once I get things in order I am thinking about moving over to futures, specifically 6e, which tracks Euro. For learning purposes 6.25 a pip trading futures is a bit steep, especially when you are wrong, so I am sticking with forex for now.

SD


frosty View Post
Great posts. I look forward to continuing reading your journal. The intro was almost verbatim of my trading history.
A few months ago I discovered forex too. Time frames for trading are perfect for my daily/nightly schedules.
One question, what broker do you use for forex trading?
do you keep a separate forex account and stock account or combine the two?

Keep up the good work.

Frosty


nosce te ipsum

You make your own opportunities in life.
Reply With Quote
 
  #15 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Well, My target of 1.4368 would have been hit. Oh well, I will catch the next train.




Silver Dragon View Post
As it turns out the NT error kicking me out my trade yesterday may have been a good thing. We shall see if I would have been stopped out later today.

For the record: the reason I did not re-enter the trade after NT kick me out is because I was emotional about what just happened. (ie pissed off!) Emotional trading destroys trading accounts.

SD


nosce te ipsum

You make your own opportunities in life.
Reply With Quote
The following user says Thank You to Silver Dragon for this post:
 
  #16 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Automated Trading Settings

Settings:
  • Trade Time: 3am and 11am
  • Trades: EURUSD
  • Profit target: 89
  • Stop: 83
  • Chart: 5 Minute
  • Entry is based on a high probabilty breakout to the upside.
  • The stop and profit target are high enough to avoid volatility like today.
  • General hold time is 1 to 2 days
  • Its designed to keep out of downtrending markets. Today for example did not generate a signal.
SD

nosce te ipsum

You make your own opportunities in life.

Last edited by Silver Dragon; April 8th, 2011 at 08:00 AM.
Reply With Quote
The following user says Thank You to Silver Dragon for this post:
 
  #17 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,249 since Dec 2010
Thanks: 1,168 given, 1,761 received
Forum Reputation: Legendary


Silver Dragon View Post
...
I did jump the gun on the trade. Should have waited for the bounce and the confimation bounce on the 89 SMA.
..
SD

Hi SD,

Nice post and thanks for a well annotated chart. You posted a 5 min chart, but with such quick action perhaps it would be an idea to include a 1 min as well around the action.

Looking at the chart you posted I would say you may have been late - though i don't know what your trigger rules are.
It seems that selling whit the CCI breaking 100 would have added 13 more pips.

BTW in your first post you have the entry and exit prices both the sane at 76 so I'm guessing you meant the exit at 66? for 10 pips. (Is 10 pips not $100 vs $10? - I don't trade Forex).

Keep up the great posts and all the best of success to you!

Keep your mind in the future, in the now.
Attached Thumbnails
Break Even Trader-jour4k.jpg  
Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
  #18 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received


aquarian1 View Post
Hi SD,

Nice post and thanks for a well annotated chart. You posted a 5 min chart, but with such quick action perhaps it would be an idea to include a 1 min as well around the action.

I was using the 5 minute chart to illistrate the pennant. For trading I use 5 range chart. This consolidates the action and removes alot of false signals. See attached chart. I added notes on what I was looking at when I was trading. The 5 minute chart and the 5 range chart have many of the same confirmations but the 5 range chart shows the price action better.


aquarian1 View Post
Looking at the chart you posted I would say you may have been late - though i don't know what your trigger rules are.
It seems that selling whit the CCI breaking 100 would have added 13 more pips.

The crossing of 100 and -100 generate more accurate trading signals and a stronger movement. When the price is between the 100's price action tends to be sideways.


aquarian1 View Post
BTW in your first post you have the entry and exit prices both the sane at 76 so I'm guessing you meant the exit at 66? for 10 pips. (Is 10 pips not $100 vs $10? - I don't trade Forex).

I fixed this. Thanks for pointing it out!



SD

nosce te ipsum

You make your own opportunities in life.
Attached Thumbnails
Break Even Trader-trade1-4-7-11-2.png  
Reply With Quote
The following user says Thank You to Silver Dragon for this post:
 
  #19 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Automated Trade Update

I have business to take care of over the next couple of weeks so my manual trading and in depth analysis will be limited.

Attached is the automated trades from april 8th and today, April 12th.

Todays trade is testing recent highs. Will be watching closely for a reversal.

SD

nosce te ipsum

You make your own opportunities in life.
Attached Thumbnails
Break Even Trader-4-12-11-automated-trade.png   Break Even Trader-4-8-11-automated-trade.png  
Reply With Quote
The following user says Thank You to Silver Dragon for this post:
 
  #20 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received



Silver Dragon View Post
I have business to take care of over the next couple of weeks so my manual trading and in depth analysis will be limited.

Attached is the automated trades from april 8th and today, April 12th.

Todays trade is testing recent highs. Will be watching closely for a reversal.

SD


There was a hard reversal today after the EURO passed its 15 month high. May close the trade early if correction begins.

SD

nosce te ipsum

You make your own opportunities in life.
Reply With Quote
The following user says Thank You to Silver Dragon for this post:

Reply



futures io > > > Break Even Trader

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Some Homeowners Get Break On Mortgage—Without Asking Quick Summary News and Current Events 0 July 3rd, 2011 11:20 AM
Break Even Button Rayzor NinjaTrader Programming 2 May 26th, 2011 01:08 PM
ThinkScript: Three Line Break StockJock ThinkOrSwim Programming 0 December 16th, 2010 12:10 PM
Break Outs webart The Elite Circle 11 August 4th, 2010 09:48 PM


All times are GMT -4. The time now is 07:19 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-18 in 0.13 seconds with 20 queries on phoenix via your IP 54.163.209.109