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quantum27 ES trading journal
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quantum27 ES trading journal

  #21 (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 9th November 2009

Trade 1:
Long 1077.5 9:40
Ex: 1076 9:50 -3

This missed my stop by 1 tick, with the price action I was pretty sure it was going to take out my stop. I got out as best as I can because I was expecting it to take off immediately.

Looking back, if I could have stayed with this trade till the end of the day. After missing the first retracement, I was thinking that would be it for the day, because further entries would have been riskier.

Trade 2:
Long 1081 10:17
Ex: 1080 10:23 -2

Good job taking the 10min break after the previous loss. I saw a flag building, I should have waited.

Trade 3:
Long 1080.5 10:34
Ex1: 1085.5 13:05 +5
Ex2: 1091.5 16:10 +11

Good job again for taking the 10min break. I probably should have not taken any profit and left it till the end of the day. But psychologically, I was down for the day, and I wanted to at least be BE for the day, hence I took some profit.

Looking back, if I could get in at 1076 area, with strong market internals showing strong buying, I could have held my whole position till the end of the day.

Day PnL = +11

http://charts.dacharts.net/2009-11-10/q2759.png

What I did well:
- Took 10min break after both my losses. I was happy to call it a day after the 2 losses, but a good trade came up. That's what it's all about.
- Rehearsed taking losses.
- Traded first 1.5hr

What can be improved:
- Pretty much a no brainer day today, have to stay prepared for the tough days.

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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  #22 (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 10th November 2009

Yesterday being a trend day, I wasn't expecting much. So watch for the chop, and take profits quick.

Trade 1:
Short 1091 10:00
Ex: 1093 10:11 -4

I thought I could have taken the loss alot earlier, but I had too much of a bias and was hoping the trade will sell off after the test of previous day's high. In the end, the market doesn't care about my biases.

Nevertheless, took my 10min break after the loss, well done.

Trade 2:
Long 1094.25 10:30
Ex: 1093.5 10:31 -1.5

Looking back, I probably shouldn't have entered this trade, I saw a flag building, but also saw the market 1 tick the IB. Got out quick.

Trade 3:
Short 1093.25 10:31
Ex1: 1091.25 10:45 +2
Ex2: 1085 12:30 +8.25

I not going to sugar coat it, I didn't take the 10min break after the loss, and I made money. This is definitely NOT good behaviour.

One part of me feels good that I made money, but another part of me is wary of this becoming a habit. Lets just move on and not let this become a habit.

On another note, I can't believe I got filled at 1085.

Day PnL = 4.75

http://charts.dacharts.net/2009-11-11/q2760.png

What I did well:
- Took my 10min break on my first loss.
- I was actually quite indifferent to trading today.
- Traded first 1.5hr

What can be improved:
- Didn't take my 10min break after my second loss.
- More rehearsals of taking losses

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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  #23 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received


- Never move BE stop after profit.
- Never move a stop.

Hi Quantum , excellent journal you got I like the details . Question - never move the BE stop in a profit capturing trailing fashion ? Never move any stop against your position ?
My achilles heel is exiting on runners too quick . I always move my stop to BE +1 tick after my 1st target is hit and thereafter leave the 2nd car in to run . Problem is my survivalist instinct makes me close out the 2nd before the run is complete . Working on that .

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


Eric j View Post
- Never move BE stop after profit.
- Never move a stop.

Hi Quantum , excellent journal you got I like the details . Question - never move the BE stop in a profit capturing trailing fashion ? Never move any stop against your position ?
My achilles heel is exiting on runners too quick . I always move my stop to BE +1 tick after my 1st target is hit and thereafter leave the 2nd car in to run . Problem is my survivalist instinct makes me close out the 2nd before the run is complete . Working on that .

My BE stop goes in after I hit my first profit target, usually 2points or abit further. Even if I think I can get more than 2 points, I'll still put it in. I don't trail, mainly because I don't know how much to trail by, and I like to give the market enough room to move.

I do look at a few things such as MP day type, market internals, and fib to sometimes get out of the runner. But still, it's a best guess. On days I that I feel it's going to close at the extreme, I let my platform close my position at 16:10 and walk away for the day. Sometimes I get it, sometime I end up with a scratched trade, but I feel in the long run it's a good strategy.

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  #25 (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 11th November 2009

No trades for today. First 1/2 hour had nothing, just plenty of tails.

When the market started to move, I couldn't get a proper entry before the move ended. Was tempted to get in near 11:00, but it was getting too late in the move.

I wasn't feeling too good today, so best to stay out anyway.

http://charts.dacharts.net/2009-11-12/q2762.png

What I did well:
- Traded first 1.5hr (well, was only prepared to get into the market)
- Stayed out when there's no entry. Good sign, as it's a good emotional indicator that I'm not being needy to make money.
- Stayed out of the first 1/2 hour chop.

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.

Reply With Quote
The following user says Thank You to quantum27 for this post:
 
  #26 (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 12th November 2009

Trade 1:
Long 1096 9:51
Ex1: 1098 9:53 +2
Ex2: 1096 10:12 +0

Trade 2:
Long 1097 10:26
Ex: 1095 10:58 -4

Day PnL = -2

http://charts.dacharts.net/2009-11-15/q2763.png

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.

Reply With Quote
 
  #27 (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 16th November 2009

Today was a tough day, initially it looked like a potential trend day with market internals and the gap showing the way. But majority of the move completed with in the first hour, I couldn't get a good entry into the move, so I stayed out.

I'm usually hesitant on getting into the market after the market has moved significantly. So I only took one trade to see what happens, and got out when nothing did.

Trade 1:
Long 1108.5 10:41
Ex: 1108.5 12:11 +0

Day PnL = 0

http://charts.dacharts.net/2009-11-17/q2765.png

What I did well:
- Waited for good entry, and didn't jump in. It's disappointing when the market moves and you can't find a way in.

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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  #28 (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 17th November 2009

Quite a choppy day today. Didn't really show any direction, was good to finish the day with a small loss.

Trade 1:
Long 1107 9:50
Ex: 1105.5 9:51 -3

Good work, took the 10min break after the loss.

Trade 2:
Short 1103.5 10:12
Ex: 1105.5 10:16 -4

Trade 3:
Short 1105 10:18
Ex1: 1103 10:39 +2
Ex2: 1105 12:13 +0

I wasn't too happy with this trade, as I didn't take my 10min break, and it went 1tick away from my stop. Also if I had gotten stopped out, I would have been down -11 which was more than my daily risk.

Looking back at it, despite it making money, the trade was more of a revenge trade. I could have avoided it by taking my 10min break.

I think this is the 2nd time I hadn't taken my break. I must make it a priority.

Day PnL = -5

http://charts.dacharts.net/2009-11-18/q2766.png

What I did well:
- Traded first 1.5hr
- Took 10min break after my first loss.
- Wasn't much of a day, stayed out.

What can be improved:
- Taking my 10min break must be my #1 priority this month
- I need to let the trailer go, and stop watching if it reaches the profit target or not.
- Need to rehearse taking losses, stay focused on the big picture, and not individual trades.


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.

Reply With Quote
The following user says Thank You to quantum27 for this post:
 
  #29 (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 18th November 2009

Tough past few days. Today it only traded within the IB. Days like these, I try to stay out.

Trade 1:
Long 1109.5 9:45
Ex: 1108.25 9:47 -2.5

Looking back at this trade, I probably shouldn't have taken that trade, as it was near the high. It never broke out of that bullish bar.

Nevertheless, I did take my 10min break. Which caused me to miss the reversal.

Trade 2:
Short 1103.75 10:24
Ex: 1106.5 10:40 -5.5

I wasn't too happy with how I managed this trade. I moved the damn stop!.

I did force myself to walk away, and when I rested I came to my senses and decided it would be the end of the day.

Daily PnL = -8

http://charts.dacharts.net/2009-11-19/q2767.png

What I did well:
- Took my 10min break.
- Finished within daily risk limits. I don't mind taking the losses past couple of days, because it hasn't really done anything. Days like these are damage control mode.

What can be improved:
- Watch my levels, be aware of them.
- Do not move stop.

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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  #30 (permalink)
Elite Member
Sydney, NS
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: TF,S,GC
 
cclsys's Avatar
 
Posts: 607 since Nov 2009
Thanks: 248 given, 379 received


Quantum. I find the clear way you lay out not only the trades with times and results, but especially the goals/focus etc., most laudable.

Interesting that rather than listing 'what I did wrong' you structure it as 'What can be improved.'

At some point I think I will post a journal here and suspect that it is your format that I will try to follow.

Thank you.

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