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Kayaker's Journal


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Kayaker's Journal

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  #1 (permalink)
 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
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Posts: 26 since Aug 2010
Thanks: 18 given, 9 received

Starting my journal tomorrow morning, APR 27th 2011

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  #3 (permalink)
 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
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Posts: 26 since Aug 2010
Thanks: 18 given, 9 received


First of all I would like to give a big Thanks to Mike for this forum, he has probably influenced me the most on developing my trading style, I'm a big believer in using price action and very few indicators....
Lets see.....Mmmm today my goal is to not lose money LOL.

I really need to start taking more trades. It's not so much that I'm afraid to lose money, I'm afraid of making a mistake. I get stressed even making sim trades, I need to get over the fact that I will make mistakes.
I took a couple month break from trading and now I'm ready to really focus, at least I stopped the bleeding, I can't believe how many ahaa moments I have had lately, now I need to work on being profitable, it seems like its a slow grind.
I think trading psychology is the hardest part of trading, I want to get to the point where when I see the trade I take it without thinking...more later.

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 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
kayaker's Avatar
 
Posts: 26 since Aug 2010
Thanks: 18 given, 9 received

Took 3 trades on the ES today, and had another of those Ahaa moments +5 ticks, 0 ticks, +3 ticks. the last two trades were both taken in long periods of consolidation, the number 2 trade for 0 ticks it look as though the market was going to go against me after the strong run up so I bailed at even I should have left it, after an hour it slowly ground up about 3 points before the market headed down.....took 3rd trade on the way down, I was in the trade for 1 hour and I didn't know what to think so I closed it out for a 3 tick profit, 30 seconds after I closed it, the market raced down 6 or 7 ticks....it figures

All together I learned a lot today, and didn't lose money, I think it would be much more advantageous to trade 2 contracts now and let one run out further on trading days like today.

Started watch TF to see if it is more suitable for me....

Oh ya, any input from anybody is greatly appreciated

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  #5 (permalink)
 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
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Posts: 26 since Aug 2010
Thanks: 18 given, 9 received

4/28
Had to work yesterday, No Trading, But I accomplished alot in my mind while I was driving, going over price action in my head....
everything is becoming more clear to me on what is driving price movement, it is getting so that I can predict exactly where support and resistance is going to be and work off these points, if the move is strong enough I will try to get in some trades after the first set of profit points are hit.
The psychology of pulling the trigger when you see the opportunity is the hardest part to overcome it needs to become automatic.
Looking for a market pullback at the open, unless the economic news is very good.

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  #6 (permalink)
 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
kayaker's Avatar
 
Posts: 26 since Aug 2010
Thanks: 18 given, 9 received

Guess I was wrong on the market today, what a crappy day trading, interruptions all day long didn't get a trade in till the end of the day got out with 3 tick loss before the es took a nose dive, could have lost a lot more, but I could sense it turning, I wish i would have been in long earlier.
I think I will put in a trade after hours....put on a stop and then take a nap and what ever happens happens.

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  #7 (permalink)
 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
kayaker's Avatar
 
Posts: 26 since Aug 2010
Thanks: 18 given, 9 received

Friday 4/29
Not a good day trading, watched to TF most of the day missing many good opportunities, someone said on another threat that he watches the ES and trades the TF so I thought I would check this out. As far as I could tell they the ES is not a leading indicator of the TF sometimes ES would lead slightly and sometimes visa versa and sometime such as at the end of the day they were going in complete opposite of each other, I know this was only a 1 day observance but personally I would not trade off it.
OK now for the ugly part, I made my first trade on TF toward the end of the day had a poor entry (as usual lately) but managed to make 8 ticks Mmmm I thought... but after that things went bad fast, I did something I told myself I would not do and traded the end of the day when it became extremely volatile and lost over 2 PTs on 2 quick fire from the hip trades WOW what was I thinking. My fear of losing out of profit took over my fear of losing money....This weekend will be spent re-evaluating my trading psychology and my other weaknesses.

My trading pitfalls-
Bad Timing
Trade Management
Lack of confidence in my trades
Indecision

I am sure there are others but I will concentrate on the first two because they will help the last two. I am still trying to find a trading method that fits me and experimenting with different methods is not helping even though most of my trading is Sim.

Everybody have a great weekend!

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  #8 (permalink)
 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
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Posts: 26 since Aug 2010
Thanks: 18 given, 9 received

I have been in Al Brooks Trading room for the past few days observing mostly, took a few trades here and there.
I must say Al is a Master at price action trading and I have learned more in two days listening to him than i learned on my own in 6 months, best of all, he isn't selling any magic indicators, he isn't even selling his method of trading he never tells you to buy his books, he is just a great educator. He does not tell you specifically when to take a trade or when he is taking trades, until after the fact,( then he will describe what he did and why) that would not help you learn to think on your own, but he will say if a situation looks good or does not look good and why.

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 Big Mike 
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  #10 (permalink)
 kayaker 
Crivitz Wisconsin USA
 
Experience: Intermediate
Platform: ninjatrader
Broker: Zenfire
Trading: es
 
kayaker's Avatar
 
Posts: 26 since Aug 2010
Thanks: 18 given, 9 received



Big Mike View Post
How are things going for you lately?

Mike

Hi Mike, I think things are starting to come together, being in Al Brooks trading room has definitely been a great educational experience, and it has been the best thing I have done since I started trading. At first it the information he was giving out was overwhelming, but now I can understand what he is talking about and follow him along pretty quickly and know why he takes the trades he does. My confidence level has improved greatly... I have not taken many trades lately, because I am concentrating on learning, but did not lose on any of the few trades I did take and paid for the room the first day. I can't believe how much information is in a 5 min bar. Now I need to work on my trade management skills...The best part of it is that I can see the light at the end of the tunnel and being consistently profitable is within reach.
Everyone in the room is friendly and helpful, there is one woman trader that has been in the room since the beginning, she is a really good trader and she has also helped me out a lot.

Also, the one thing I think that would help me out, would be to watch a PA trader place trades live, so I can get a feel for the speed and placement for the entry's and trade management.

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