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quantum27 ES trading journal
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quantum27 ES trading journal

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

quantum27 ES trading journal

I've decided to start a public journal to keep myself accountable. I usually trade 4 days a week, and taking Friday off. Here's trading for yesterday.

Trade 1:
Long 1060 10:23
Ex1 1062.5 10:39 +2.5
Ex2 1067 12:27 +7

My focus needs to be on what to do psychologically when the trade doesn't go my way. Today, when I entered the trade, I had a good feeling the trade will go my way. This mentality will usually come back and bite me very soon, as I start believing I'm smarter than I really am. Fortunately enough, the trade did go my way. I need to be in a headspace where I have no bias, and no matter how good the trade looks I can still accept the trade stopping me out.

http://charts.dacharts.net/2009-10-09/q2740.png

http://charts.dacharts.net/2009-10-09/q2741.png

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  #2 (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 12th October 2009

The first hour was very quiet, only moved 4.5 points. I noticed it was a bank holiday, so unsure how much volume there would be. Was also watching the previous level at 1075.75, looked like it tested in globex session, and I was expecting it to go down and close the gap. In hindsight it did, but you can't trade hindsight. =)

Trade 1:

Long 1074.75 10:28
Exit 1074.25 +0 scratched

I usually look for the retracement trade on a gap move, looking for the possible trend day. The move wasn't too convincing, but I had a breakeven stop after it move 1.5points my way.

Looking back at it, I wasn't too comfortable holding the trade that long with the sideways movement. Since I had the BE stop in the market, I had nothing to lose.

Trade 2:

Short 1073.75 11:33
Exit 1074.25 12:28 -0.5x2=-1

This was a trade I probably shouldn't have taken, but I came to my senses and got out with a small loss. Should have packed it up for the day, but ended up getting stressed for another hour

In hindsight, if I held on to the trade, it would have been the trade of the day. But I have to watchout that I don't build bad habits, it will come back to bite me.

PnL = -1

http://charts.dacharts.net/2009-10-13/q2742.png

- Have to keep my entries within first 1.5hrs of the day.
- Mentally rehearse taking losses.

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  #3 (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 13th October 2009


Wasn't much of a day today, it mainly traded within the IB. Maybe because tomorrow is FOMC minute. I probably won't end up trading if there isn't much volatility before FOMC.

Trade 1:

Short 1065.5 9:55
Ex1 1063.5 10:03 +2
Ex2 1065.5 10:10 +0

I was tempted to sell 15 1067-68 level, but it was the previous day's low. So I don't want to get suckered in. Ended up, it broke nicely out of 1068, took the signal of the bearish bar, got the 2 points and scratched the rest.

I did notice that there was a POC from 10/9 at 1064, and afterwards applying the pivot levels, there was also a S2.

Trade 2:

Short 1064 10:25
Exit 1066 10:27 -2x2=-4

Looking back, this was a trade I probably shouldn't have gotten into. I'm reluctant to trade bullish/bearish bars after the initial move (ie. within a retracement.)

Trade 3:

Long 1066.25 10:30
Ex1 1068.25 11:38 +2
Ex2 1071.25 11:47 +5

I had to hold for abit over an hour, and the sideways action after 10:30 didn't give me confidence in wanting to keep holding.

Looking back, with bullish/bearish bar entries, I want the trade to move in my direction immediately. If it didn't, I must scratch it immediately, and possibly look at a better entry in a retracement.

What I should have done was to scratch the trade when it didn't go my way. Take a 10min break, and come back to reassess.

Day PnL +5

http://charts.dacharts.net/2009-10-14/q2743.png

What I did well today:
- I kept my entries within first 1.5hrs
- I rehearsed taking losses

What can be improved:
- Take a 10min break after taking a loss.
- Scratch bullish/bearish bar entries if it doesn't go immediately.
- Don't jump into bearish/bullish bar entries, be selective (ie. first move of the day)


Keep focusing on:
- Trade entries within first 1.5hrs
- Rehearse taking losses.
- Max loss for the day is 8 points.

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  #4 (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

Excellent , good details .

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  #5 (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 14th October 2009

Today was a a nice trend day that closed near the high of the day. I consider this more of a Normal Variation day, as it only reached slightly above 2xIB. Would like to have seen a bigger move, but markets tend to make smaller bullish moves and larger bearish moves.

It's one of those days that was easier to read, and abit of a no-brainer to trade. I have watch out for these kinds of days, in the past I have felt like it was my trading skills that made me successful that day.

Market opened with a big gap up, usually a sign of a trend day, market is in imbalance. Was tempted to sell short, but kept my hands away from the computer.

Trade 1:

Long 1080.5 10:37
Ex1 1082.5 11:02 +2
Ex2 1087.75 16:10 +7.25

Was tempted to take full profit, but days like these I need to bank on the market closing near the highs, so holding till the end of the day.

Looking back, I should have gotten in at 1079.75 rather than 1080.5. I got distracted, and wasn't watching the move. I'm not sure what I can do about this, as I try not to watch every tic as this gets me missing out on the big picture. Something I need to observe, and figure out as I go.

Day PnL = 9.25

http://charts.dacharts.net/2009-10-15/q2744.png

What I did well today:
- Traded long with my long bias from the gap. Was tempted to short, but stayed away.
- Entries focused on first 1.5 hours.
- Was selective on the bullish/bearish bars, there was some nice headfakes.

What can be improved:
- Was abit distracted, need to rehearse taking losses. This is what makes or breaks you, not getting lucky on a trend day.

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.

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  #6 (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 15th October 2009

I wasn't expecting much from today, most likely to be choppy since yesterday was a trend type of day. First 1.5 hours was quite choppy, with news events at 10:00, 10:30, and 11:00.

After the morning chop, it looks like it broke out of the range in the afternoon. Days like these, I try to sit on my hands.

Trade 1:

Long 1085 9:36
Ex1 1087 9:58 +2
Ex2 1085 10:00 +0

Market internals looked negative all morning, wasn't expecting too much of a big move. Manage to take some profit.

Looking back, I probably should have finished the day here.

Trade 2:

Short 1086 10:18
Ex 1085 10:57 +0

Trade 3:

Long 1085.25 10:57
Ex 1085.25 11:18 +0

The market 1 ticked the IB, and reversed. I chased this trade, luckily got out at BE.


Day PnL = 2

http://charts.dacharts.net/2009-10-16/q2745.png


What I did well:
- Didn't get chopped up after a trend day. Days like these will milk away my past profits if I'm not careful.
- Traded first 1.5hrs
- Rehearsed taking losses.

What can be improved:
- Watch out for chasing trades.

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.

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  #7 (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 19th October 2009

Was a choppy first hour, had to take a couple of losing trades before getting into the move. I'm pleased that I was quick to get out when I sensed the trade wasn't going my way. If I would have waited for my stop to be hit, today would have been less profitable.

Trade 1:

Short 1083.25 9:57
Ex1: 1084.5 10:03 -1.25
Ex2: 1084.5 10:03 -1.25

-2.5

Market looked like it was selling off, but I saw how it bounced off the pivot point, had to get out quick.


Trade 2:

Long 1086 10:05
Ex1: 1085 10:05 -1
Ex2: 1085 10:05 -1

-2

In hindsight, I could have held on to this trade and saved myself being stopped out. But I wanted to work on getting out of trades quick, especially with bullish/bearish bar entries, they need to move almost immediately.

Trade 3:

Long 1086 10:20
Ex1: 1088 10:23 +2
Ex2: 1092.5 10:59 +4.5

Originally, I thought the market was selling off, but I saw the market test down, and started moving up quickly. I couldn't get a good entry, and had to go market.

Re-entry:

Long 1090.5 10:40
Ex: 1092.5 10:20 +2

I saw a nice setup, jumped in and made quick 2 points.


Day PnL = +5.5

http://charts.dacharts.net/2009-10-20/q2746.png

What I did well:
- Got out of losing trades quick.
- Traded within first 1.5 hours.
- Rehearsed taking losses.
- I did walk away after each loss, but saw the market moving, and had to jump right in.

What can be improved:
- There's a whole gray area where I'm still trying to figure out what's the best course of action. It's one of those things where if I stick strictly to the rules, I will miss out on good moves, and if I get too relaxed it will come back and bite me. Here are some of the gray areas:
- Getting out and back in reverse direction too quickly.
- Taking the 10min break, or missing out on the move.
- Market into the trade, or wait for better entry.

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.

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  #8 (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 20th October 2009

Tough day today, took 5 trades, probably overtraded slightly. Ended up with a loss of -4.5.

I'm going to start focus less on trading analysis, rather than on how I've executed my trading day.

Trade 1:
Short 1092.75 9:38
Ex1: 1090.50 9:38 +2.25
Ex2: 1091.75 9:55 +1

This was actually quite a nice trade, was expecting it to sell off harder, but didnt. Probably should have finished the day here.

Trade 2:
Long 1092 9:55
Ex1: 1090 9:57 -1
Ex2: 1090 9:57 -1

This was quite a good trade, as I got out quick when the trade wasn't going my way.

Trade 3:
Long 1091.25 9:58
Ex1: 1090.75 10:09 -0.5
Ex1: 1090.75 10:09 -0.5

Good reaction to get out quickly again.

Trade 4:
Short 1090.5 10:10
Ex1: 1088.5 10:17 +2
Ex2: 1091.75 10:55 -1.25

I was right for the move. But my MISTAKE was to move my BE stop after I made my profit. I thought I was smarter than the law of probabilities.

Trade 5:
Long 1091.75 10:55
Ex1: 1090 11:12 -1.75
Ex2: 1090 11:12 -1.75

Don't think this was the best of trades, probably should have left for the day.

Day PnL = -4.5

http://charts.dacharts.net/2009-10-21/q2747.png

What I did well:
- Got out of losing trades quick.
- Traded within first 1.5 hours.
- Rehearsed taking losses.
- Kept my daily loss below 8 points.

What can be improved:
- NEVER EVER move the BE stop after I made profit. Just a big indication that I'm focused on making money, than controlling my risk and trading well.
- Next 3 losses I take, I'm going to force myself to take the 10min break. No matter how good of a move I think I'm going to be missing.

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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  #9 (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 21th October 2009

Felt yesterday I over traded, and also felt tired today. Decided to take it easy with my trading. Took only 1 trade.

Trade 1:
Long 1091.75 9:51
Ex1: 1093.75 9:53 +1
Ex2: 1095.5 10:17 +3.75

There was major resistance around the 1097 area, IB was quite wide as well. Could have taken a short and made money, but I was done for the day.


PnL Day +5.75

http://charts.dacharts.net/2009-10-23/q2748.png


What I did well:
- Wasn't greedy with my trading. Was satisfied with that I took out of the market for the day.

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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  #10 (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 22th October 2009


No trading today. Had some issues on my mind, and usually days like these are not productive for trading.

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