NexusFi: Find Your Edge


Home Menu

 





eric J's indicator free Emini journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Eric j with 44 posts (12 thanks)
    2. looks_two Jeff Castille with 4 posts (0 thanks)
    3. looks_3 Big Mike with 3 posts (0 thanks)
    4. looks_4 max-td with 1 posts (0 thanks)
    1. trending_up 15,187 views
    2. thumb_up 12 thanks given
    3. group 6 followers
    1. forum 55 posts
    2. attach_file 58 attachments




 
Search this Thread

eric J's indicator free Emini journal

  #1 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,507 since Jun 2009
Thanks Given: 1,396
Thanks Received: 2,576

Big mikes comments about indicators inspired me to start a journal here for a few reasons . The biggest of which being that it seems many of you are like me , traders searching for a way to survive out there in the cruel trading world .

Lets face it , this is a business in which you make money by taking away what others are risking and then learn to keep it . That doesnt mean you cant work together with , learn from and help others though .

What I'll do is post my charts and ideas and share them with everyone here . What I hope to accomplish is to get a deeper understanding of myself and my abilities .

As you may know I dont use indicators . Just support and resistance levels such as important highs and lows determined from a longer timeframe chart and fibonacci retracement levels from such .

I've attached my longer timeframe chart for this week and a 2500 volume chart for the NQ . I establish S/R on a 300 min. chart , monitor these levels on a 2500 volume chart and enter on a 500 volume chart .

Questions , comments and insight always welcome .

Attached Thumbnails
Click image for larger version

Name:	NQ ##-## longer timeframe july 6 09.jpg
Views:	643
Size:	95.7 KB
ID:	589   Click image for larger version

Name:	NQ ##-##  7_7_2009 (2500 Volume).jpg
Views:	528
Size:	67.0 KB
ID:	590  
Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Request for MACD with option to use different MAs for fa …
NinjaTrader
ZombieSqueeze
Platforms and Indicators
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
67 thanks
NexusFi site changelog and issues/problem reporting
48 thanks
Battlestations: Show us your trading desks!
43 thanks
GFIs1 1 DAX trade per day journal
32 thanks
What percentage per day is possible? [Poll]
31 thanks

  #2 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,322 since Jun 2009
Thanks Given: 33,143
Thanks Received: 101,476

Thanks Eric, looking forward to it!

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #3 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,507 since Jun 2009
Thanks Given: 1,396
Thanks Received: 2,576


I'm posting the one trade I made on monday .

I take continuation or reversal trades depending upon what the conditions dictate . My observation is that prices spend most of their time in consolidation , chop and congestion so being able to identify the present conditions is most of our battle .

This trade was just after the bell and I saw price in consolidation on the longer and shorter timeframe .

What I struggle with MOST is DO I WAIT FOR PRICE TO HIT MY TARGETS OR GRAB THE PROFIT AVAILABLE NOW ?

This trade hits my 1st objective ( 2 lot trade ) then double tops and stops out the 2nd contract 1 tick below support . I moved the 2nd contracts stop to that level after price continued in my favor .

I'm working on how to identify when to get out with a profit when a reversal is present and when to stay patient and let the trade unfold .

Question..

Get out + 4 pts or so at the double top or stay in and let the trade unfold ?

Attached Thumbnails
Click image for larger version

Name:	7 6 09 1 trade today.jpg
Views:	500
Size:	87.9 KB
ID:	592  
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #4 (permalink)
 Laserdan 
North Carolina
 
Experience: Beginner
Platform: Ninja Trader
Broker: Ninja Trader Broker / Continuum
Trading: ES
Posts: 57 since Jun 2009
Thanks Given: 4
Thanks Received: 57

I found that there is nothing worse than letting a winner turn into a loser.

In your case the one contract that you took a 1 tick loss on, the trade was up 4 points, so you should lock in the gain (even if its b/e + 1 tick) - no loss no commish.

Now I dont know your trading style, but for me, the 1st doji after your entry (about 9:43) is where a would take profit. At least on 1/2 and move stop up to b/e + 1 tick on other 1/2.

Set your targets to a reasonable level. Move your stops up to prevent losses. Once you have done that then hold on for the top target.

Follow me on Twitter Reply With Quote
  #5 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,322 since Jun 2009
Thanks Given: 33,143
Thanks Received: 101,476


Eric j View Post
What I struggle with MOST is DO I WAIT FOR PRICE TO HIT MY TARGETS OR GRAB THE PROFIT AVAILABLE NOW ?

You should know the answer to this prior to entering the trade. It should be in your rules, in your money management. If it is unclear, then you should work on those.

I struggle with the same thing even after alot of time and energy in this area. One point of advice, you can't lose money if every trade is a winner. So, don't beat yourself up too much if you take a few ticks less than your target. But, you've GOT to maintain a 1:1 risk reward ratio or that will not work, you can't cut the winners short and have huge losers.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #6 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,507 since Jun 2009
Thanks Given: 1,396
Thanks Received: 2,576

Thanks Mike and Laserdan , dojis are a clear sign of stalling momentum . Oftentimes I've entered and took profits when it looked like the moves shot only to watch it keep going .

I'll post todays trades and that occured once today . I like the doji warning sign or maybe pull one contract off if a bar closes below the prior bars low ( CLPL ) in a long ?

Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #7 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,507 since Jun 2009
Thanks Given: 1,396
Thanks Received: 2,576

Heres the 2 trades I took today . The losers are smaller than the winners and outnumber them 2 to 1 .

I exited the 1st trade after capturing the 1st target , and taking the 2nd contract off after a reversal signal triggered .

The 2nd trade stopped out with a small loss .

Attached Thumbnails
Click image for larger version

Name:	7 7 09 trade 2.jpg
Views:	398
Size:	81.0 KB
ID:	605   Click image for larger version

Name:	7 7 09.jpg
Views:	321
Size:	81.3 KB
ID:	606  
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #8 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,507 since Jun 2009
Thanks Given: 1,396
Thanks Received: 2,576

This is todays longer timeframe charts for the NQ , one showing more data and the other a closer look at the same timeframe .

The way I use these is to identify important levels I should be aware of .
I dont have any bias as to which way I trade so this leaves me free to watch what is happening right now and then do what makes sense .

I am a believer in the philosophy described in the book " Trading in the zone " by Mark Douglas . I especially believe in the 5 fundamental truths with " anything can happen " really hitting home . How many times I've passed on a signal when I was sure it cant work then it goes on to produce big time I cant even count .

Attached Thumbnails
Click image for larger version

Name:	7 8 09 longer timeframe NQ.jpg
Views:	310
Size:	70.2 KB
ID:	614   Click image for larger version

Name:	7 8 09 longer timeframe closer view.jpg
Views:	313
Size:	74.1 KB
ID:	615  
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #9 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,507 since Jun 2009
Thanks Given: 1,396
Thanks Received: 2,576

These are the trades I took today . I stopped after 4 trades - 2 winners 2 losers . The winners are about twice the size of the losers . The 1st trade should read - 4 pts .

Attached Thumbnails
Click image for larger version

Name:	7 8 09 trade 1.jpg
Views:	344
Size:	82.4 KB
ID:	632   Click image for larger version

Name:	7 8 09 trade 2.jpg
Views:	282
Size:	77.9 KB
ID:	633   Click image for larger version

Name:	7 8 09 trade 3.jpg
Views:	284
Size:	86.4 KB
ID:	634   Click image for larger version

Name:	7 8 09 trade 4.jpg
Views:	329
Size:	84.8 KB
ID:	635  
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #10 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,507 since Jun 2009
Thanks Given: 1,396
Thanks Received: 2,576


This is the NQ longer timeframe charts I'm looking at today . Looks bullish to me but closing above 1415 seems difficult .

Both are 2500 volume , one with more data squeezed in it than the other .

I've decided to not enter any trades between 915 and 1000 EST from now on or until I see evidence that they can be high probability setups .

Attached Thumbnails
Click image for larger version

Name:	7 9 09 longer timeframe.jpg
Views:	282
Size:	66.3 KB
ID:	636   Click image for larger version

Name:	7 9 09 longer timeframe closer view.jpg
Views:	265
Size:	63.2 KB
ID:	637  
Visit my NexusFi Trade Journal Started this thread Reply With Quote





Last Updated on October 16, 2009


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts