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quantum27 ES trading journal
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quantum27 ES trading journal

  #11 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Monday 22th October 2009

Trade 1:

Long 1080.5 9:38
Ex1: 1083 9:45 +2.5
Ex2: 1080.5 11:29 +0

Probably should have gotten out earlier and made something, rather than BE on the rest of my position.

Day PnL = 2.5

http://charts.dacharts.net/2009-10-27/q2749.png

What I did well:
- Kept it simple, and didn't overtrade.

Keep focusing on:
- Trade entries within first 1.5hrs
- Rehearse taking losses.
- Take 10mins break after loss.
- Max loss for the day is 8 points.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.
- Never move BE stop after profit.
- Next 3 losses I MUST take 10min break.

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  #12 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Monday 27th October 2009

Tough day, wasn't any clear direction. Basically took my lumps and called it a day.

Trade 1:
Short 1065 9:48
Ex: 1066.75 9:50 -3.5

Trade 2:
Short 1058.5 10:07
Ex 1060.5 10:09 -4

Day PnL = -7.5

http://charts.dacharts.net/2009-10-28/q2750.png

What I did well:
- Walked away for 10min after a loss. Looking back, there was a setup that I missed because I walked away. Nevertheless, it's a habit I'm committed to building.
- Kept my daily loss below 8 points. There was a trade that I could have taken after I called it a day, that would have made money. But each trade has it's risk, and I couldn't let my daily loss go from -7.5 to -11.5. Looking at my past trading records from the past few years, the days where I didn't walk away are usually the days that I look back costing me the most for the month. GREAT JOB!!
- My mental preparation has been good, where I'm close to being indifferent to whether I make money or not. That's the sweet spot I want to be.

Keep focusing on:
- Trade entries within first 1.5hrs
- Rehearse taking losses.
- Take 10mins break after loss.
- Max loss for the day is 8 points.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.
- Never move BE stop after profit.
- Next 3 losses I MUST take 10min break. Done 2 out of 3.

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  #13 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Tuesday 28th October 2009


Nice day today, keeping discipline on bad days like yesterday and coming back today is what it's all about. Basically a trend day that closed near the bottom, but there were alot of things that made me question whether it will be a trend day. But the market internals were weak, which gave me confidence.

Trade 1:

Long 1059.25 9:45
Ex: 1057.75 9:47 -3

I should have walked away for 10mins, but didn't. Next loss I take I must walk away.

Trade 2:
Short 1057.5 9:51
Ex1: 1053.5 10:00 +4
Ex2: 10:42 15:14 +15.5

It was abit hard to hold on, there were a couple of times I was thinking of taking profits early and going long. But market internals were showing selling strength.

Day PnL = 16.5

http://charts.dacharts.net/2009-10-29/q2751.png

What I did well:
- I let the trade go, leaving a BE stop despite having some deep pullbacks.
- Wasn't much skill involved today, as the market pretty much just sold off.

What can be improved:
- Next loss I take I must walk away for 10min. I'm not expecting much for Thursday, so trade lightly and don't give back my profit.

Keep focusing on:
- Trade entries within first 1.5hrs
- Rehearse taking losses.
- Take 10mins break after loss.
- Max loss for the day is 8 points.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.
- Never move BE stop after profit.
- Next 3 losses I MUST take 10min break. Done 2 out of 3.

Reply With Quote
The following user says Thank You to quantum27 for this post:
 
  #14 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Thursday 29th October 2009

With such a big down move yesterday, I wasn't expect much from today, but looking back it was a nice day that I could trailed till the end of the day.

Trade 1:

Short 1045 9:45
Ex: 1046.5 9:49 -3

I walked away for 10min which was great work.

Trade 2:

Long 1048.5 10:02
Ex1: 1051.0 10:24 +2.5
Ex2: 1050.75 10:49 +2.25

Looking back, I was pretty aggressive entering into this trade. But I knew it was bouncing off the pivot point, moving up fast, and market internals shows buying strength.

I could have probably have just held on my partial position till the end of the day.

Trade 3:

Short 1051.5 10:29
Ex: 1051.25 +0.5

Got spooked out with the big tail bouncing off the VAH. Decided to go short, but I got out quick when I saw the market starting to support.

Trade 4:

Long 1051.75 10:50
Ex1: 1053.75 11:02 +2
Ex2: 1053.5 11:39 +1.75


Day PnL = 6


http://charts.dacharts.net/2009-10-29/q2752.png


What I did well:
- Took 10min break after my loss
- Trade entries were within first 1.5hrs

What can be improved:
- Didn't rehearse taking losses. Lets not make a habit out of this.

Keep focusing on:
- Trade entries within first 1.5hrs
- Rehearse taking losses.
- Take 10mins break after loss.
- Max loss for the day is 8 points.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.
- Never move BE stop after profit.
- Next 3 losses I MUST take 10min break. Done 3 out of 3.

Reply With Quote
The following 4 users say Thank You to quantum27 for this post:
 
  #15 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Monday 2nd November 2009

After the big selloff on Friday, I was cautious about the kind of volatility that today could bring.

Trade 1:

Long 1037 9:37
Ex: 1037 9:41 -2

Got out pretty quick market wasn't supporting at all, I love it. Well done.

Trade 2:

Short 1036.75 9:42
Ex1: 1034.75 9:46 +2
Ex2: 1036 9:53 +0

Probably should have taken the 10min break before going into this trade.

Trade 3:

Long 1038 9:59
Ex1: 1041 10:00 +3
Ex2: 1043 10:00 +5

I took a shot at the long side, but didn't expect it to go so quickly. I pretty much got filled on my entry, and got out on my automatic profit targets instantly. Nice!


Trade 4:
Long 1044 10:01
Ex1: 1044 10:02 +0
Ex2: 1046.25 10:34 +2.25

I tried to re-enter with 1/2 my position, as the market had taken me out with both profit targets filled. For some reason, I entered on my full position. Good job for getting out quick and not trying to be greedy about it.

Day PnL = 10.25

http://charts.dacharts.net/2009-11-03/q2753.png

What I did well:
- Trade entries were within first 1.5hrs
- Eventhough I was tempted to short, I knew I had made enough for the day.
- Got out quick when I had a mistake in my entry in trade 4.


What can be improved:
- Didn't fully rehearse taking losses.
- Keep a watch out for taking 10min break after a loss.

Keep focusing on:
- Trade entries within first 1.5hrs
- Rehearse taking losses.
- Take 10mins break after loss.
- Max loss for the day is 8 points.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.
- Never move BE stop after profit.

Reply With Quote
 
  #16 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Tuesday 3rd November 2009

Not a good day for me, market was quite volatile with lots of 5min tails showing very little conviction.

Most importantly, I let my discipline go out the window, and I know I can trade better than this. This is one of those days that your bad habits creeps back to bite you, if you're not careful.


Trade 1:
Short 1035 9:51
Ex: 1036.75 9:52 -3.5

This was a well managed trade, but I should have really taken the 10min break to clear my head.

Trade 2:
Long 1036.75 9:52
Ex: 1036.75 10:00 +0

I probably should have taken 2 points out of this trade, but I ended up moving the profit target. Focusing too much on making my money back.

Trade 3:
Short 1036 10:02
Ex: 1038.25 10:03 -4.5

This is where things started to go wrong. I moved my stop, which is a BIG mistake. Should have just ended here for the day, as I have reached my daily 8 point loss limit.

Trade 4:
Long 1040 10:03
Ex: 1038 10:11 -4

Example of a chased trade, entering at the worse price, and getting stopped out. This trade wouldn't have happened if I had taken a 10min break to recollect.

Trade 5:
Short 1037.25 10:11
Ex1: 1033.5 10:29 +3.75
Ex2: 1037.25 10:34 +0

This was actually quite a nice trade.

Trade 6:
Long 1035.5 10:37
Ex: 1033.5 10:38 -4

I went long when I thought I was short, only found out when my stopped got hit. This has never happened to me before. Just wasn't my day.

Trade 7:
Short 1033.25 10:38
Ex: 1037 10:43 -7.5

Revenge trade, and revenge's a bitch . Moved stop. Worst trade ever.

Day PnL = -19.75

5min chart
http://charts.dacharts.net/2009-11-04/q2754.png
1min chart
http://charts.dacharts.net/2009-11-04/q2756.png


What I did well:
- Pulled the plug, despite being late I pulled the plug.
- There were a couple of good trades there, but the losses made the day red.
- These days I have a healthier attitude towards days like this, in the past I would be beating myself up alot. I know it's 100% my fault, I take full responsibility for my actions, the good news is that I have the power to make the positive changes. I learnt a few things about myself that is going to help me in the future.


What can be improved:
- For the month of November, I MUST take my 10min break after a loss. This will be my #1 priority for this month. It needs to be automatic. I know that if I do this single thing, I can get back to a centred place which will allow me to follow through with the actions below.
- NEVER move a stop. Today was a perfect example of it, and I know when I'm moving my stops, I'm just in the wrong headspace to be trading.
- NEVER violate your daily risk limit. Not everyday is created equal, part of being a profitable trader is being able to walk away and come back and fight another day.
- Need to rehearse taking losses, this will help me accept the loss and not try and get back what I've lost.

Focus for November:
- I MUST take my 10min break after a loss.
- Rehearse taking losses.
- Max loss for the day is 8 points.
- Never move BE stop after profit.
- Never move a stop.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.

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The following user says Thank You to quantum27 for this post:
 
  #17 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Focus for November

Focus for November:
- I MUST take my 10min break after a loss.
- Rehearse taking losses.
- Max loss for the day is 8 points.
- Never move BE stop after profit.
- Never move a stop.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.

Reply With Quote
 
  #18 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Focus for November

Focus for November:
- I MUST take my 10min break after a loss.
- Rehearse taking losses.
- Max loss for the day is 8 points.
- Never move BE stop after profit.
- Never move a stop.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.

Reply With Quote
 
  #19 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Wednesday 4nd November 2009

Trade 1:
Short 1047.75 9:45
Ex: 1049.5 9:46 -3.5

Trade 2:
Long 1052 10:05
Ex1: 1056.5 10:20 +4.5
Ex2: 1052 12:11 +0

Day PnL = 1

http://charts.dacharts.net/2009-11-06/q2757.png

What I did well:
- Took 10min break after my loss. Well done, definitely felt alot more centred after.
- Rehearsed taking losses.

Focus for November:
- I MUST take my 10min break after a loss.
- Rehearse taking losses.
- Max loss for the day is 8 points.
- Never move BE stop after profit.
- Never move a stop.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.

Reply With Quote
The following user says Thank You to quantum27 for this post:
 
  #20 (permalink)
Trading for Fun
Sydney/Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Thursday 5th November 2009


Trade 1:
Long 1057 10:00
Ex: 1056.75 10:02 -0.5

I considered this a scratched trade, so I didn't take the 10min break.

Trade 2:
Short 1056 10:05
Ex: 1058 10:07 -4

Took the 10min break, so great job!

Trade 3:
Long 1055.5 10:18
Ex1: 1060 10:36 +4.5
Ex2: 1060 11:17 +4.5

I was aiming for 1063.5, looking back it would have made it, missing my BE stop by 1 tick.

Add1:
Long 1061.25 10:46
Ex: 1060 11:17 -1.25

Day PnL = +3.25

http://charts.dacharts.net/2009-11-06/q2758.png

What I did well:
- Took 10min break after my loss.
- Rehearsed taking losses.
- I walked away feeling like I didn't make enough today. But I reminded myself that I only needed to make 1 point a day, and I certainly did. It's funny how having taken a big loss earlier this week, made me feel like I need to make more. I certainly would have been satisfied with today's result if I hadn't taken that big loss. Shouldn't let the past affect me, because the market doesn't care.

Focus for November:
- I MUST take my 10min break after a loss.
- Rehearse taking losses.
- Trade first 1.5hr
- Max loss for the day is 8 points.
- Never move BE stop after profit.
- Never move a stop.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.

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