E-mini Rookie Trading Journal

Nihaba-- Ask and you shall receive: :)

FUTURES TRADES
---------------------------------------------------------------------------

Trade Time Exchange Description Qty Trade Price Set
Price Gain/Loss *
----------------- --------- ----------- ----- -----------
----------- ----------- -
02-08-07 09:34:46 GLOBEX NQ SEP02 1 941.0000
919.0000 -440.00
02-08-07 09:35:47 GLOBEX NQ SEP02 -1 938.0000
919.0000 380.00
02-08-07 09:48:17 GLOBEX NQ SEP02 -1 928.0000
919.0000 180.00
02-08-07 09:59:23 GLOBEX NQ SEP02 1 919.5000
919.0000 -10.00
02-08-07 10:29:43 GLOBEX NQ SEP02 -1 911.5000
919.0000 -150.00
02-08-07 10:32:32 GLOBEX NQ SEP02 1 914.5000
919.0000 90.00
02-08-07 10:43:22 GLOBEX NQ SEP02 -1 912.5000
919.0000 -130.00
02-08-07 10:43:49 GLOBEX NQ SEP02 1 916.0000
919.0000 60.00
02-08-07 10:45:24 GLOBEX NQ SEP02 -1 915.5000
919.0000 -70.00
02-08-07 11:06:21 GLOBEX NQ SEP02 1 905.0000
919.0000 280.00
02-08-07 15:26:45 GLOBEX NQ SEP02 1 917.5000
919.0000 30.00
02-08-07 15:27:24 GLOBEX NQ SEP02 -1 915.5000
919.0000 -70.00
02-08-07 15:30:28 GLOBEX NQ SEP02 1 918.5000
919.0000 10.00
02-08-07 15:31:05 GLOBEX NQ SEP02 -1 916.0000
919.0000 -60.00
02-08-07 15:36:49 GLOBEX NQ SEP02 1 920.0000
919.0000 -20.00
02-08-07 15:47:02 GLOBEX NQ SEP02 -1 920.5000
919.0000 30.00
=====
===========
0
110.00


===========
USD
Total: 110.00


FUTURES GAIN/LOSS SUMMARY
----------------------------------------------------------------

Gain/Loss From Futures Trades
110.00


============
USD Total:
110.00


==========================================================================================

ACCOUNT STATUS
---------------------------------------------------------------------------

USD
Starting cash balance 4319.20
Settled: 4319.20
Cash deposits/withdrawals 0.00
Total Futures Gain/Loss 110.00
Total Commissions -38.40
==============
==============
==> Ending cash balance 4390.80
Settled: 4390.80




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"bronks...have you figured out why you tend to donate money in the afternoons? Also, do you mean the Mid-day trading session or the late afternoon trading session or both?"
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It's usually late afternoon. Yeah... I think it's me playing it TOO conservative, not wanting to lose gains. Sort of a self-fulfilling prophecy I guess.



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"Also, there's no such thing as a late entry if you had a trade setup via your trading plan. Late entries in my opinion are chasing something without a trade setup."
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I took my comment out of context by looking back after the ramp was complete. So yes, I did enter the trade on my plan, but didn't execute properly. By the same token, some of my biggest wins have come when I chuck everything out the window, and jump on for the ride. You could call it the "Plan with no plan". Sometimes you just gotta go, you know! <G>


Hope your'e having a profitable day.

bronks
 
I have a hard time judging days like today. Trending (from mid-day) yes, but the way it was trending. Ratcheting up slowly... grinding up instead of down. The 935 level was especially testy. Lost track of how many times it hit 936 and reversed, same for 933. So I'm watching it getting ready for clear price jump either way, but it just clicks up. No bang no boom. Well I just steered clear of that mess as I had some gains and didn't feel like donating money today.

The drawdown I experienced a few weeks ago really spooked me and significantly affects my trading. Any little gains I get, I guard feverently which makes my trading ultra-conservative. But until I build a little cushion, my boring style will take precedence.


+7 points / 6 RT's
 
hello bronks,

nice to see that you find your way back. thats a good sign, dont hesitate.

here is a quote from teresa lo, which can be helpfull for overall orientation:

"New traders should attempt to trade only the retracements and tests in the directional trend."

this could be like a roadmap. first you must determine the trend on 60min, then 15min. you only take the retracments + tests in the direction of the trend on 15min (or 5min).

lets take yesterday: trend on 60min is turning up, on 15min also. so you just take (or focus on or take bigger positions on) retracements + tests on the long side.

for example, following this, you would have entered in the time between 13.30 + 14.30 on the test of the lower end of the range serveral time, but in the end you would have been on board.

just another approach.

:) trading
 
hardcash

Would like to know what she means by trading tests in the direction of the trend. A test is generally a trend reversal or a breakout. She must be talking about playing the breakout in the direction of the trend. I have yet to find a good method for playing breakouts other than waiting for a pullback which is another retracement. Can you refer me to any place where she explains this?
 
Originally posted by easyrider
hardcash
Can you refer me to any place where she explains this?
More...

sorry, its just a quote i found somewhere...i understand it the way that to enter "a test in the direction of the trend" can be the situation, when 1) a market is entering a range after a trend move instead of pulling back (you only enter on the side of the range in the direction of the prior trend) or 2) simple to try to enter the low/high of a pullback (if its a "test" of an S/R level) after a breakout, instead of waiting for the retracement to move on (which is then entered with a buy/sell stop order over/under the high/low of the pullback - the LBR "MA enter trick" can be used here) ...:confused: :mad: :confused:
 
Hello hardcash-- Thanks for the info. Pretty much what you summed up is how I trade, retracements in the direction of the breakout and breakouts that... um... breakout! I think the trick in that is paying attention to the price action to determine the entry. No easy task. Especially on a day like today. Have a good weekend.
 
Well it had to end sometime. My winning streak came to a grinding halt today as I just could not get a pulse on market movement. 7 roundtrips and just 1 winner. Stunk up the joint today and gave up half my gains for the week. Another problem of mine is not knowing when to quit. It actually helped me today, bringing me back from WAY down but I have a feeling it's gonna bite me in the ass someday. I don't think I can control that but I do think I can recognize having an off day earlier and shutting down 'till the next day.


I also must be more cognizant of what the coming day might bring. Example: With volumes dropping off during the week, should've known that volume would be light on Friday in August. Which in turn would affect my style of trading, since I depend heavily on big volume breakouts to climb aboard and volume tends to carry the momentum through. Not so today, I think playing tight retracements could have been the better choice.


Another thing is that it took only 10 points to wipe out half my weeks' gain. Something needs to be done there but the only thing I can think of is to make more points per day, easier said then done. Anyway, things to ponder over the weekend.


-10 points / 7 RT's / acct: $4268.40
+9.5 points net for the week
 
Originally posted by bronks
...I just could not get a pulse on market movement.

Another problem of mine is not knowing when to quit.

I also must be more cognizant of what the coming day might bring.


More...

hi bronks,

uncertainty is a bad base. plan your trade and trade your plan. transform your hidden bias (which is always there) into a clear expectation, that can control.


the last one is a good idea :)

if you want, we can share our thoughts and work together for a couple of days on a "projektion", what to expect in the session ahead.

:) trading
 
Originally posted by hardcash


...if you want, we can share our thoughts and work together for a couple of days on a "projektion", what to expect in the session ahead.
More...

Hardcash-- That sounds like a good idea. We can either hash it out here or PM me. Whatever you're more comfortable with. Cheers.
 
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