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Ronin's Daily Journal

  #1 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92

Hi guys im here to learn and to share my work with the big guys and also with everybody whos starting like me. I am doing demo testing futures since a month, maybe less but i was trading forex and binary options (currencies) for 4 months. Eventually got tyred of forex as its manipulated.
As everybody here is making a trading journal.. idea that i find fantastic, i decided to post mine too.
Here we go.

Instruments: ES YM CL NQ

Platform: Ninjatrader 8

Strategy: Trend strategy of 50 Ema and price action analysis.

Trade 1 CL
The market is bullish not a clearly defined trend but still very bullish.
I draw a trend line that got tested at a support level of 52.64 and when the price tested the trendline again the ema 50 was crossing it. On a bullish market i thought it would be a good signal that the price would bounce from there and test the resistance level at 53.03 and so it did even tho i exited a little before the resistance level because the second high at resistance level was lower than the first, 6 ticks away anyway, not much.
P/L Daily= +13
P/L Weekly= +13



Trade 2 ES
Looking for scalping 1-1,5 point on this trend with 2 ticks SL.
On the bullish trend I checked for resistance levels but havent found any... I knew i was risking in this because we were already on wave 5 of the trend, its clear it was losing strenght. But i said its just 1 point it will make it so went long at 2296 with TP at 2297,25 and SL at 2295,25 and... and it did made it but.... I adjusted the SL 1 tick lower the trend line. So basically the price tested the trend support and bounced without enought streng and the same candle fooled at me because it stopped me out and then rallied to my TP. Shoud have held faith and moved the SL 1 tick lower for the trade. Actually while i am redacting this comment the price rocketed from 2295 to 2301.25 in about 20 mins. Would have taken lots of profit there but peace. Diligences are diligences and trades occasions are infinite.
P/L Daily= -4
P/L Weekly= -4



Trade 3 ES
This trade almost pissed me off due to the previous failed trade cumulative. But i suddenly found my mistake and relaxed. Its crazy when you feel you can't read the market successfully but then you realize "YOU" failed and peace gets back. I drew a trendline that seemed to work (the first one) and accordling to my very simple strategy I waited the bounce on the trendline and an eventual second chance to break it, but as the red candle was continuosly bouncing back to the close of the previous green candle i thought it was a go to enter long. Then the doji and after that the break of the trendline but my stop loss was a bit lower than the previous trend and saved me from being stopped but the couple red candles scared me so y manually closed the position for a -1 tick P/L. THen suddenly realized that the EMA 50 was far away from the trendline and that is my misreading of the chart. I relied on my trendline and totally forgot about EMA and the price eventually bounced there for higher profit that i missed. Peace... found the mistake... happy enought. Not a big loss tho. I then adjusted the trendline to the new movement. Thats why there are 2 lines.
P/L Daily= -5
P/L Weekly= -5



Trade 4 YM
I was looking for higher historical price of 7-feb 20087 to break and do the price did with a quite large candle.
I waited for the bulls to take their profit at the resistance and when i got the confirmation of the continuation i went long at 20107 with a SL of 10 ticks and a TP of 20 at 20127
P/L Daily= +20
P/L Weekly= -20



Trade 5 CL
Price was perfecly moving inside a trend channel so i decided to go countertrend even if I am not used to. Waited for the price to reach the bottom of the channel and went long at 52.86 to manually close the position at 52.90 as the TP was too far away (8 ticks) and i saw some bearish movement on the next candle and decided to close the position around the EMA 50 and take my profit and walk away for the day.
P/L Daily= +21
P/L Weekly= +21




Thats all for today, i reached my daily goal of 3 profits, 3 stops or 200$ profit.

I kindly ask everybody to help me getting better by analyzing my analysis and give me as many feedbaks as you can.

Thank you

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  #3 (permalink)
 mastercraft29 
central florida
 
Posts: 192 since Jul 2014


Hey Ronin - welcome to the forum

what do you mean by forex is "manipulated?" I trade forex everyday and as long as you understand price action it is the same as every other market.. the institutions cannot hide what they are doing; price action is their foot print. it is an unregulated market so no two charts are the same, and the price action is not as "clean" as a market such as the ES, but forex is a perfectly acceptable market to trade, especially for beginners.

check out my journal and you will see what i mean if you compare the price action to another market.

good luck!

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  #4 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92


mastercraft29 View Post
Hey Ronin - welcome to the forum

what do you mean by forex is "manipulated?" I trade forex everyday and as long as you understand price action it is the same as every other market.. the institutions cannot hide what they are doing; price action is their foot print. it is an unregulated market so no two charts are the same, and the price action is not as "clean" as a market such as the ES, but forex is a perfectly acceptable market to trade, especially for beginners.

check out my journal and you will see what i mean if you compare the price action to another market.

good luck!

Hi Mastercraft thank you for post on my thread.

I really dont know but the feeling i had lately was all about exactly what you said, unregulated market, 2 charts being different, price action not clear... and finally some recent news about some big investing banks playing weird on forex market. Nothing personal but i know there will be a cleaning but right now.. i pass. That simple.

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  #5 (permalink)
 mastercraft29 
central florida
 
Posts: 192 since Jul 2014

lol ya i hear you. that was probably the FXCM mess you heard about.

anyways, just be careful in futures markets since you can (and will) lose a lot of money until you know what you are doing. (not saying you dont know what you are doing, just speaking from experience and the fact that it takes years to do this and everyone loses for their first few years).

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  #6 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92

Believe me, I come from Forex but mostly from binary options, and forex because i was analyzing forex market to trade BOs. mostly EUR/USD like you. I quitted the BO market... 450€ invested, 5800€ withdrew. But i dont know if I am really lucky or Iam born to trade (hahahaah) but at some point i was up to 18000ish and lose them down to 5800. That really pissed me off. If there is a market that makes everybody lose serious moneys is Binary options, aspecially if you trade turbo BOs or 15 minutes BOs. Thats the market to aviod... in fact its prohibited in USA. My experience taught me that. A load of friends that saw me gaining money followed me and from about 100ish friends that joined the club lets say 2 are actually still making money... the rest lost them all...
Maybe this is what bored me and not the forex market itself.. u may be right -

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  #7 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92

10-2-2017
Instrument: NQ
Time frame: 5 min
Indicators: EMA 50
Analysis: Technical
Strategy: Simple R/S and price action analisys

Trade 1
On a consolidation channel I managed to find an entry point right before the price broke the resistance. For a good rally up. I entered without brackets so was really focused on the trade. Result that the candle where i exited (manually) was more bullish than bearish even if went down a good amount of ticks... it was time to get out and take some profit because i felt the bulls was about to step in and push the price higher. And so they did the very next candle. I missed that breakout as I am still not enought confident to trade breakouts.
Not the best trading day but considering its friday afternoon and i didnt have time to trade the morning session, i guess thats all for the week.



Have a nice week-end folks.

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  #8 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92

13 -02-2017
Instruments: NQ - YM
Time frame: 5 min
Indicators: EMA 50
Strategy: Simple R/S and price action analisys


I Joined the fun late today as i couldn't sat at my chair and 9.30 today due to that uncommon thing thats called job.
Also i had not enought time to analyse and follow the price action progression as I should, because I had to stand up and work continously. So basically this gives unconfidence especially at a beginner level. Today was a trend day and should have made a lot of points. Peace.

Trade 1 NQ
Messed up with DOM... entered the market when i didn't want to and ended losing 1 point like an idiot



Trade 2 NQ
By mistake placing this 1, it automatically closed the first and the market suddenly moved down before i had time to react and stoppe me. Dumb error indeed. Lost 1 point as well.

Trade 3 NQ
Was trying to recover from the 2 points lost earlier. Kind of emotional trade. Bad entry at first reversal candle. After such a large bull candle I should have let the market do his BO and buy at lower price at PB.



Trade 4 YM
This trade made me think. I have a sort of fear when entering a trade that when i see the price going against me after some movement in the right direction i think the market is changing sentiment and quickly close my position and i dont let the market to flow normally to new highs. I forget the big picture and focus too much on the very moment of the trade.



Trade 5 NQ
I placed a buy stop limit order 1 tick above the trading range and step away from the computer as i had to work. It was just a little trade to test a strategy. Buy at 2252.75, S/L 4 ticks and TP 6 ticks, filled.



Basically my main problem today was not letting the market moving and wanting to close positions too soon.

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  #9 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92

14-02-2017

Instruments: GC
Time frame: 5 min
Indicators: EMA 50
Strategy: Simple R/S and price action analisys

Trade 1 GC
I catched a small swing tonight before to going to bed. I waited for the price to test the trendline and it did, waited for the signal candle and it came. I entered @1226.9 (but filled @1226.8) with a stop loss of 6 ticks and a TP of 8. I moved my TP 2 ticks higher as the price didnt seem to want to test yesterday's close @ 1226.1, even if it did 15 minutes later. I was already in bed at that time or i would probably have gone long at that bounce at 23.10 bull signal setup maybe for an insane profit. Still not experienced enought for things like this but time will come.



Trade 2 GC
Messing with the DOM again, ended up with a 1 tick insta loss due to bad DOM ATM Strategy. I SHOULD LEARN TO USE IT BETTER!! But not a big loss considering i was buying at 1234 with 15 tick profit and 10 SL the price would have never touched my target leading to stop loss. SOOOO, thanks to my noobness this time.

Trade 3 GC
I was looking closely at GC chart that was "walking" below ema 20 in 1 minute chart setting up a series of bear signals in a minitrend when the price compressed in a triangle which was the signal i was looking for. It could have gone either up or down but the climax was bearish so i put a sell stop limit just 1 tick below the last lower low and price gave me reason. I took my profit at the support just below thinking it would bounce from there since it was a medium strong resistance 2.30 hours ago.



Thats all for today. I wish happy S. Valentine to everybody.

Alex

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  #10 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92


15-2-17
Instruments: GC - CL
Time frame: 5 min
Indicators: EMA 50
Strategy: Simple R/S and price action analisys

Trade 1 GC
I waited the price to test the close of 12-feb as support thinking it would go up at least to the previous high, weak beat sentiment bullish signal at the entry candle, maybe a bit early entry. I didn't let the price fluctuate enought to reach my TP. Manually closed 2 ticks above entry. Still a bit unconfident with trading range markets but it is something i want to master.



Trade 2 GC
Massive seeling in the previous candles I waited to see if the price would cut through the support and it did. Good timed entry right above the last high but uncertain exit (i could have made a lot more ticks) due to the EMA 20 and that we were at 70% of gap filled which often is a target for many traders to take profit.or enter at reversal.



Trade 3 CL
S0mething new that I've learned from an Al Brooks webinar found on youtube. "A trading range often forgive your mistakes" if you are smart enought to place scaling trades at the right positions. My signal was the support below and the first bullish candle 4 times bigger than the previous 10 candles so y placed a buy stop order 1 tick above that candle, after a second confirmation of the forming bullish candle which was the entry candle as well. NOt a big trade as EMA was flat but i had a feeling that price was about to break that resistance and get is way up to yesterday's close price. But it went down to touch the monday's close and further the strong support above it (where i should have placed a third contract possibly). Then price bounced and i took my profit at the resistance but i should have waited and keep faith on my original plan and stick with a take profit at ysterday's close. Peace. 9 ticks up, not bad anyway.

Trade 4 CL
Entered 1 tick above the support thinking the price would swing down again but this time it bounced where in previous candles failed to hold the bulls. My stop loss was 2 tiks above the yesterday's close but a peak stopped me out anyway.

Trade 5 CL
I dont want to mention this trade. Messing with DOM. At least i managed to breakeven.

Trade 6 CL
I Entered 1 tick below the close of the bear signal candle with a protective stop of 5 ticks and a take profit of 5 ticks at support. TP Filled.



Trade 7 ES
I checked for the ES rally all day long, good bullish trend. I decided to place one more trade for today because it was a very great, low risk setup, for a 1.5-2 points scalp.High 1 then very bullish candle was forming and placed my entry 1 tick above signal bar for a 4 tick stop loss of 8 tick PT. Closed at 1.5 point profit. Another example of how my fear of losing back an already conquered profit is preventing me to keep faith on my decisions.



Even if i had to take a couple more trades to reach my daily gol of $200, it was a good trading day. I have been able to successfull implement trading range trades on my set of tools. This is a must have I should obviously develop waaaaay further but it is a good starting point.

Thats all for the day

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Last Updated on June 9, 2017


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