AllenZ's Journal

Thank you for the valuable info.
In the meantime, fridays are my least profitable days. Still don't know the cause (me or the market).
I need some more experience to judge.
 
Originally posted by x-or
Thank you for the valuable info.
In the meantime, fridays are my least profitable days. Still don't know the cause (me or the market).
I need some more experience to judge.
More...


Its always you, but if you have something that is profitable that does not matter very much. I do not like trading right before or after a holiday, the last day of the quarter, or on options expiration. There is nothing wrong with the market those days, except that what I do does not work as well. However, I suspect if I tried to hard to make what I do work on those days, it would not work on other days, which by far more numerous. One thing that you might find with Fridays is just that you are very tired. Trading depemands 100% attention and focus, and this is something that you can not keep up 100% of the time, so its possible that by fridays you are just beat.

Brandon
 
Hey buddy hows it going. This market seems to get crazier by the day. hope all is well.

For an interesting side note, Brandon is one of the people that got me into trading futures in the first place. Thanks B! Not sure what I would be trading now since my old trading basket is almost extinct.

AllenZ
 
Its going great. Just getting ready to go on vacation for a week. First one we have gone on in it seems like forever, I can't wait to get gone. Talk to you when I get back.

B
 
Well today Mr. Market caught me leaning. I like to pride myself on not having a directional bias intraday but today after we reversed the lows I found myself only looking for longs. Bad idea. After making highs over lunch while I was away from my desk I missed my short setup from the 30min breakout, thus my only true short entry of the day ( even with hindsight ). Just a day I read the market poorly and chased longs a bit too much. happens to all.

Trades

Trade 1 - 11:19 Long 813 Exit 820 +7
Trade 2 - 13:09 Long 822 Exit 818 -4
Trade 3 - 14:01 Long 822 Exit 816 -6
Trade 4 - 14:52 Long 816 Exit 811 -5

Day Net -8

Trade 1 - 5 min pivot following 30min breakdown. Rode to target.

Trade 2 - 50% retrace after a higher high. Also pullback to support.

Trade 3 - 15 min pivot following 50% retracement. Basically a re entry of prior trade. Bad Idea got in on high tick of move.

Trade 4 - Fade against a 60min IRB break. I will usually not fade these but again, today I was caught leaning with a directional bias and was hurt because of it.

Not my day, was just out of sync.

*Also tomorrow marks the 2nd anniversery of Realitytrader.com. To celebrate our 2nd year we are having an open house for all three rooms. It will be for one day only and I look forward to seeing anyone who wants to see the way I hunt down these intraday setups ( even with todays performance )

To download please use http://www.realitytrader.com/login.asp

Any user name and password will work.

AllenZ
 
Interesting day, but more of the usual. I know you trade the NQ Allen, but once again, during the low volume period, the market was run up to and slightly beyond the pivot point of 808 on the ES, and then driven down. This happens so regularly lately, that it has to have human intelligence behind it. I'm going to add a trade to my arsensal to specifically short the noon doldrum high of day or pivot point breach, and put my stops a couple points above. I think people should take advantage of this while it lasts.

I'm assuming most traders/hedge funds are biased short and anything predicatable is exploitable by the guys with the order flow. Yeah, people will say that its just "the market", but I think it's the pit messing around in the shallow waters, increasing their average returns. So I'm not complaining, just pointing out an exploitable situation. Enjoy your journal and good to see I wasn't the only one with a losing day today. :)
 
Originally posted by AllenZ
Well today Mr. Market caught me leaning. I like to pride myself on not having a directional bias intraday but today after we reversed the lows I found myself only looking for longs. Bad idea. After making highs over lunch while I was away from my desk I missed my short setup from the 30min breakout, thus my only true short entry of the day ( even with hindsight ). Just a day I read the market poorly and chased longs a bit too much. happens to all.

Trades

Trade 1 - 11:19 Long 813 Exit 820 +7
Trade 2 - 13:09 Long 822 Exit 818 -4
Trade 3 - 14:01 Long 822 Exit 816 -6
Trade 4 - 14:52 Long 816 Exit 811 -5

Day Net -8

Trade 1 - 5 min pivot following 30min breakdown. Rode to target.

Trade 2 - 50% retrace after a higher high. Also pullback to support.

Trade 3 - 15 min pivot following 50% retracement. Basically a re entry of prior trade. Bad Idea got in on high tick of move.

Trade 4 - Fade against a 60min IRB break. I will usually not fade these but again, today I was caught leaning with a directional bias and was hurt because of it.

Not my day, was just out of sync.

*Also tomorrow marks the 2nd anniversary of Realitytrader.com. To celebrate our 2nd year we are having an open house for all three rooms. It will be for one day only and I look forward to seeing anyone who wants to see the way I hunt down these intraday setups ( even with todays performance )

To download please use http://www.realitytrader.com/login.asp

Any user name and password will work.

AllenZ
More...


Geeze, what happened to ET. in the past a statement like this would have brought all the " chatroom bashers " out of the woodwork to publicly demean chatrooms ops that use this site to hype their rooms.

Guess everyone is caught up in the wonderful bear market we currently have to work with.

But seriously, I hope to see some of you guys turn out and perhaps at least say hi as we navigate what looks to be another interesting session.

AllenZ
 
I'll show up tomorrow Allen. I find your style very interesting. You trade the way I would like to trade. Unfortunately, I can't seem to hold my potions for more than 5-5.5 points max. This causes me to take around 10 trades a day. 2 points here 3 points there. Like today, I was short around 12:00 (PT) at 815. I ended up covering the trade at 811.5 for 3.5 points. I had no real reason to get out. I just thought that she might bounce off 808-809 area. (Wanted to be first in line above 810) I need to get my number of trades down. I'm looking for some new set-ups with longer time frames.

Anyway, tomorrow...
 
Very light volume in the market lately and I guess a lot less daytraders as well, hence the lack of responses.

There you go, I just bumped you back to the top of the ET front page.
 
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