jasinhbca's quest for discipline, knowledge & profits

Quote from jas_in_hbca:

Anybody have any problems with the NT7 upgrade ? I haven't done it yet. Expect to do it next week unless somebody has a horror story.
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If you're going to do it, do it after hours. I did it yesterday after the CL open only to find out that it wiped my charts clean. I had to manually open each chart again (I have 4 separate charts) along with adding indicators, changing colors, resizing windows, etc.

I haven't had any technical problems. I'm still getting used to the different menus, and a few other little things that are different.
 
Quote from FirstDegree:

If you're going to do it, do it after hours. I did it yesterday after the CL open only to find out that it wiped my charts clean. I had to manually open each chart again (I have 4 separate charts) along with adding indicators, changing colors, resizing windows, etc.

I haven't had any technical problems. I'm still getting used to the different menus, and a few other little things that are different.
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Thanks for the info. Technical problems during trading hours are always a heavy sigh, damn it kind of moment.
 
-2.25 Buy off LOD

One possible mistake i see is buying on the down TL near possible resistance. I've frequently seen these kinds of buys turn up fast so i don't think the entry is terrible. Now, maybe the fact that it didn't take off should have been a indication to get out sooner.

Another way to play it would be wait for more of an upside b/o then enter on a pullback.

Didn't re-enter because market moving slow and looking range bound.
 

Attachments

1 trade + 7

Possible areas of improvement . Earlier entry , earlier exit or could have re shorted at failure to get above R1.

On the daily charts I've got a very bearish bias right now so I was trying to hold this short as long as i could with out giving up too much in open profits. Finally decided to just book profits.
 

Attachments

Quote from jas_in_hbca:

1 trade + 7

Possible areas of improvement . Earlier entry , earlier exit or could have re shorted at failure to get above R1.

On the daily charts I've got a very bearish bias right now so I was trying to hold this short as long as i could with out giving up too much in open profits. Finally decided to just book profits.
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Good job here !

Do you trade futures only ? Is the account size a restriction ?
 
Thanks , JP !

I hold stocks and will swing trade for longer trades but currently just focusing on learning to day trade the futures. I actually tried day trading futures almost 20 years ago. Pre internet days. (Anybody remember the NYFE ? ) Pick up the phone, reach for the speed dial button, hmm, no, put the phone back, reach for the phone again, dictate your order, they read it back, "Is that correct?", "yes", write down your fill ,hang up and heavy exhale ! I sure love the internet! :D

My stock holdings right now are primarily QID an ETF that double shorts the nasdaq.

My acct size is small and until i get some consistency i'll just trade 1 car although i could trade more now.
 
+1.5 on 1 trade short. MFE +6.25 but a realistic exit would be around +5 if i acted sooner. There was a reversal bar that i could have acted on. Holding any longer than i did would have turned profit to loss.

Lesson: Need to trust price action and act quickly.

No other trades due to the slow action today.

I'm keeping track of all my trades and noting type of entry pattern, exit reason and any mistakes. This worksheet and a chart go in a binder; winners in one section losers in another.
I then log into excel the points made or lost into various columns, time, entry pattern etc. Trying to determine where and when my wins and losses are coming from and how much mistakes are costing me.

I also keep another binder with several sections labeled by pattern; breakout, 2 & 3 bar reversal patterns, M-top's etc. As i find patterns they get filed in this binder. I also include failed patterns for reference.

So far i'm finding it helpful and would expect if i'm going to trade on PA then this is an absolute requirement.
 
No trades yesterday and looking like none today. I think i'd rather go study some charts than watch more of todays non-action.

Have a good weekend traders !
 
There was another good short entry when 2212 was taken out.
My trading plan right now does not allow me to add to my position. Pyramiding winners is key to increasing profits, IMO so when i become more consistent i will add this to the plan. It would seem to me that i should only add when i'm already up x amount on a position.

And now that i think about it i also want to initiate w/ multiple cars and scale out. Incorporating these two ideas is going to take some thought.

Maybe i'll just stay a 1 lotter forever ! :p
 
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