E-mini Rookie Trading Journal

Originally posted by easyrider
... You should not be trading until your methodology shows consistent profits on paper. I know one trader who is doing very well who papertraded his system for two years before his risked any of his money.
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easy-- With all due respect, I cannot and will not papertrade. Personally, it doesn't work for me. It just doesn't replicate accurately enough what actually happens. No matter what I've ever done in my life, I immerse myself in it from the beginning. And yes initially I'll admit, it would've been better to approach from another direction but my personality won't let me. I'll just have to bumble around until I find the light switch.

Could you please expand more on your mechanical approach?
 
Originally posted by hardcash


...seems that she do not count breakouts as a valid setup.

:) trading
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I would like to know why this is. The breakout(down) is my bread and butter set-up. Although my P/L isn't showing it, I've made the most points from these. It's when I try and fade or buy on the retrace is when I get into trouble. It does get rather subjective in chop though. Just gotta have the discipline to sit on your hands during this period.

To be clear, I'm talking breakout in the sense of from one price level (cluster) to another. Consolidation--> break, consolidation--> break, etc.
 
Originally posted by bronks
I would like to know why this is. The breakout(down) is my bread and butter set-up. Although my P/L isn't showing it, I've made the most points from these. It's when I try and fade or buy on the retrace is when I get into trouble. It does get rather subjective in chop though. Just gotta have the discipline to sit on your hands during this period.

To be clear, I'm talking breakout in the sense of from one price level (cluster) to another. Consolidation--> break, consolidation--> break, etc.
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Hi bronks,

Is it possible for you to post an annotated chart of your trades or post your price entries/exits?

I notice you no longer post price entries/exits. Now you only post the final result...P/(L) stuff...why?

If you decide to post a chart...please show exactly what you have setup on your computer screen (what you see).

In other words...if your using simple moving averages as part of your trade decisions...don't post a chart without those indicators.

Maybe there's nothing wrong with your strategy...just how you apply it may be wrong.

Maybe your using the wrong strategy for a particular price pattern...

we'll never know unless posted charts or price entrie/exit times are displayed.

By the way...are you applying BreakOut strategies every trading day ?

If so...that could be a big problem.

I use BreakOut strategies (most likely different from you) and most trading days I cannot apply them to the Eminis because the price patterns are setup for false signals or I know there will be no follow thru.

Another reason why I would like to see what you see.

Thus, maybe on those days you've made the most points from BreakOut strategies...those days were prime for their application.

From my Emini charts...1min, 3min, 15min charts...BreakOut strategy days...are few and few between.

Note: Today was a good day for any kind of BreakOut strategy...there hasn't been many days to apply such strategies.

Did I use them today...no...I think I've been conditioned not to use them. Thus, I've been using other profitable trade setups.

NihabaAshi
 
Breakdowns out of bases have been working well lately because the overall trend has been down and when they break it is hard and fast. The reverse was true during the raging bull mkt.
Every body has to discover setups that they are comfortable with, these may be price patterns or indicators or a combination of both. Most people find something they are very comfortable with and stick with it even though other things may work just as well as the mkt. evolves through time. They become good at reading those particular signals (setups) and don't bother with anything else,sometimes even have disdain for other methods.
 
Nihaba-- I downloaded the Snagit program and have been trying with no success to annotate a chart. I keep losing the file and when I do find it, I can't open it. When I do open it all I can draw is a big fat red circle. To be honest I've never been able to use Word or Excel or anything on the computer other than trading related or internet browsing. Files, save to, import from, jpg, mgm, nra, pig... whatever. I'm very much clueless.

------------------------------- BUT -----------------------------------------

If someone has an easy to understand, step by step tutorial for Snagit. I will be more than happy to give it a try. All I need to know is how to annotate and post charts. From the beginning.

Sorry Nihaba, but I will post my statement once I get it.
 
Originally posted by bronks
Nihaba-- I downloaded the Snagit program and have been trying with no success to annotate a chart. I keep losing the file and when I do find it, I can't open it. When I do open it all I can draw is a big fat red circle. To be honest I've never been able to use Word or Excel or anything on the computer other than trading related or internet browsing. Files, save to, import from, jpg, mgm, nra, pig... whatever. I'm very much clueless.

------------------------------- BUT -----------------------------------------

If someone has an easy to understand, step by step tutorial for Snagit. I will be more than happy to give it a try. All I need to know is how to annotate and post charts. From the beginning.

Sorry Nihaba, but I will post my statement once I get it.
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bronks,

I don't use Snagit...I use a program from Xnview (crashes often) and because of that...I'm going to download Snagit.

Also, maybe Snagit is only setup to draw only circles. Thus, all your annotations must be down in your trading software. Most allow this (eSignal, Tradestation, Metastock, Qcharts, Ensign and others).

I'll let you know if I have any problems. In fact, I'll do a test upload here at your journal.

Take care.

NihabaAshi
 
FUTURES TRADES
---------------------------------------------------------------------------

Trade Time Exchange Description Qty Trade Price Set
Price Gain/Loss *
----------------- --------- ----------- ----- -----------
----------- ----------- -
02-07-24 10:23:43 GLOBEX NQ SEP02 1 889.5000
952.0000 1250.00
02-07-24 10:24:26 GLOBEX NQ SEP02 -1 885.5000
952.0000 -1330.00
02-07-24 10:29:24 GLOBEX NQ SEP02 1 894.5000
952.0000 1150.00
02-07-24 10:34:21 GLOBEX NQ SEP02 -1 899.5000
952.0000 -1050.00
02-07-24 10:38:51 GLOBEX NQ SEP02 1 903.5000
952.0000 970.00
02-07-24 10:39:02 GLOBEX NQ SEP02 -1 902.5000
952.0000 -990.00
02-07-24 10:41:27 GLOBEX NQ SEP02 1 905.0000
952.0000 940.00
02-07-24 10:44:00 GLOBEX NQ SEP02 -1 912.0000
952.0000 -800.00
=====
===========
0
140.00


===========
USD
Total: 140.00


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

Gain/Loss From Futures Trades
140.00


============
USD Total:
140.00


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

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

USD
Starting cash balance 3680.00
Settled: 3680.00
Cash deposits/withdrawals 0.00
Total Futures Gain/Loss 140.00
Total Commissions -19.20
==============
==============
==> Ending cash balance 3800.80
Settled: 3800.80
 
Hi bronks,

I've downloaded Snagit and must say its the best image capture program I've ever used.

In fact, I didn't like Snagit's annotation feature in comparison to QCharts annotation feature...thus, I used the annotation feature by QCharts.

I saved the image as a .gif file instead of as a .jpg or .bmp file because the latter two would have need conversion into a .gif file for uploading here at ET because of the size limitations.

Also, I put my arrow cursor (mouse control) in the lower right corner knowing it would become part of the image...

Yet, when I used Snagit to capture the image...it saved the image great...but the arrow cursor changed into what looks like a waving hand...weird.

Other than that...no problems.

NihabaAshi
 

Attachments

Nihaba-- That's some nice trading my friend, hope to be like you someday <G>.

Does anyone know if e-signal has an annotation feature like Q-charts?

Anyways I'll keep fiddling with it.
 
Originally posted by bronks
FUTURES TRADES
02-07-24 10:23:43 GLOBEX NQ SEP02 1 889.5000
952.0000 1250.00
02-07-24 10:24:26 GLOBEX NQ SEP02 -1 885.5000
952.0000 -1330.00
02-07-24 10:29:24 GLOBEX NQ SEP02 1 894.5000
952.0000 1150.00
02-07-24 10:34:21 GLOBEX NQ SEP02 -1 899.5000
952.0000 -1050.00
02-07-24 10:38:51 GLOBEX NQ SEP02 1 903.5000
952.0000 970.00
02-07-24 10:39:02 GLOBEX NQ SEP02 -1 902.5000
952.0000 -990.00
02-07-24 10:41:27 GLOBEX NQ SEP02 1 905.0000
952.0000 940.00
02-07-24 10:44:00 GLOBEX NQ SEP02 -1 912.0000
952.0000 -800.00

Total Futures Gain/Loss 140.00
Total Commissions -19.20
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bronks,

Very good trading...congrats.

Via the 1min all session chart...via what I see on my charts and its indicators...

Your first trade...I didn't like the Long position trade setup because the pattern was more of a bearish crossover with the price exponential moving averages 5eMA, 10eMA and Bollinger Band basis line...a short position trade setup.

Your second trade...you exploited that Bollinger Band Long position trade setup very nicely. Excellent trade execution.

Your third trade...looks like you panicked a little in that Long position...it had good price support via the 10eMA.

Your fourth trade...a little triangle pattern in the prior 2 candlesticks and your entry candlestick.

In fact, you bought what I call the "apex" candle prior to the following candlestick (breakout candle)...and your exit near the retest of the upper bollinger band was very nice.

bronks, good trading and I truly appreciate the detailed price entry/exits.

Hope you didn't mind me making comments based on my 1min chart settings.

Good night and hope you have another successful trading day tomorrow.

NihabaAshi
 
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