NoDoji's Day Trading Log
- Thread starter NoDoji
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I know it's free, but I'll pay you to translate it for me. LOL
Just kiddin', bighog, don't get your panties in a bunch.
Anywho, good luck Monday, nod.
angry hermit
No problem, they do not call me Mr Smooth for nothing.
PS: I am hoping tiger woods loses. I do like golf but enough of the "holier-than- thou" BS.
PSS: Working on some refinements to +6/-6 ORB trade. (actually i have been using some tactical adjustments to the battle plan for some time but have stated that i hold for a 3 handle loss first).
The adjustments involve the use of stops and when, where to take less than a 5 handle profit as minimum first profit of the day, when where to reenter for continuations. A cursory look back at this year from March 4th to last fri showed 43 days where the max STOP of 3 handles was hit as many as 4 times (in the review, not in real trading, i never allow that many without adjusting first)............just realize this is a worst case review in order to do better. Ok, 28 days showed where there were ZERO 3 handle losers before price took off and showed at least a 5 handle profit. (not exact number of days either way, cursory looking at charts while at a Mk'y dees and a coffee, ha )
With those figures alone a trader can start to think about the potential because those figures alone suggest a trade that in worst case scenario is very juicy without added tactics to enhance the trade. (thats where the intuitive stuff kicks in).
The ES trade is starting to show smaller daily ranges as we wind down from the financial blowup. Thus the need for adjustments in the battle plan.
A cursory look at the charts shows that in a smaller range environment switching from a 5 handle profit to a 3 handle profit for "FIRST " profit of the day, combined with the discipline of scratching a trade (give or take a tick) whenever it showed a profit of from 4 to 6 ticks and all of a sudden got cold feet. (in actual battle a soldier does not chicken out but he can retreat if given the order. You are not allowed to chicken out without orders because that will get you shot in the ass. Traders are allowed to change the bet after the horses leave the gate. If your horse gets in the lead then runs out of gas in trading you can run to the betting window and scratch the bet. How cool is that?
Thats NORMAL adjusting to changing mkt conditions. What i am working on is a seperate issue. Kind of working a plan to work those 43 days that show 3 handle losses to be cut by as much as 75% and turned into actual profits instead. I have been down this road before and will work without harming or changing the actual +6/-6 ORB.
I will let Nod know when i am done working the magic.
PSS: when adjusting to mkt conditions it usually becomes necessary to adjust the number of cars traded in order to maintain the prior profit numbers..........that involves paying more commissions as the overhead increases also.
PSSS: A hint, also involves the DEAD ZONE.
No problem, they do not call me Mr Smooth for nothing.
PS: I am hoping tiger woods loses. I do like golf but enough of the "holier-than- thou" BS.
PSS: Working on some refinements to +6/-6 ORB trade. (actually i have been using some tactical adjustments to the battle plan for some time but have stated that i hold for a 3 handle loss first).
The adjustments involve the use of stops and when, where to take less than a 5 handle profit as minimum first profit of the day, when where to reenter for continuations. A cursory look back at this year from March 4th to last fri showed 43 days where the max STOP of 3 handles was hit as many as 4 times (in the review, not in real trading, i never allow that many without adjusting first)............just realize this is a worst case review in order to do better. Ok, 28 days showed where there were ZERO 3 handle losers before price took off and showed at least a 5 handle profit. (not exact number of days either way, cursory looking at charts while at a Mk'y dees and a coffee, ha )
With those figures alone a trader can start to think about the potential because those figures alone suggest a trade that in worst case scenario is very juicy without added tactics to enhance the trade. (thats where the intuitive stuff kicks in).
The ES trade is starting to show smaller daily ranges as we wind down from the financial blowup. Thus the need for adjustments in the battle plan.
A cursory look at the charts shows that in a smaller range environment switching from a 5 handle profit to a 3 handle profit for "FIRST " profit of the day, combined with the discipline of scratching a trade (give or take a tick) whenever it showed a profit of from 4 to 6 ticks and all of a sudden got cold feet. (in actual battle a soldier does not chicken out but he can retreat if given the order. You are not allowed to chicken out without orders because that will get you shot in the ass. Traders are allowed to change the bet after the horses leave the gate. If your horse gets in the lead then runs out of gas in trading you can run to the betting window and scratch the bet. How cool is that?
Thats NORMAL adjusting to changing mkt conditions. What i am working on is a seperate issue. Kind of working a plan to work those 43 days that show 3 handle losses to be cut by as much as 75% and turned into actual profits instead. I have been down this road before and will work without harming or changing the actual +6/-6 ORB.
I will let Nod know when i am done working the magic.
PSS: when adjusting to mkt conditions it usually becomes necessary to adjust the number of cars traded in order to maintain the prior profit numbers..........that involves paying more commissions as the overhead increases also.
PSSS: A hint, also involves the DEAD ZONE.
+ $271
ES paper trading strategy was to short the open due to global economic growth projections being significantly worse than expected. Paper trade of the month +21 pts by the time my trailing stop was finally hit.
Short STEC @ 23.97 on open, covered @ 23.55: +$167
Short ESRX 64.89 as it was in freefall, clicked on a limit price at the bottom of the DOM window and before I could trail it down, it was lifted @ 64.63 for +$50
Short STEC @ 23.67, pullback from overbought, covered @ 23.41 for +$50, just above LOD because this is a strong stock and I figured it was likely to stage a nice rebound off that area, but the bounce quickly fizzled and price made new lows.
Short STEC @ 23.21, weak as hell as it consolidated near lows, when it hit 23.05, I moved my limit order down and it was lifted @ 23.01 before I could move it fast enough: +$38
Short ESRX @ 64.81 on pullback from run up to overbought, stop was a bit too close to previous resistance, hit: -$25. This was a solid entry, but I was trading STEC so much I didnât switch gears and give myself a little extra room on this much higher priced stock.
Short ROST @ 38.83, pullback from lower high, stop above entry barâs high @ 38.94, hit: -$26
End of day run up, offer 65.25 ESRX and it hits 65.24 and falls. How close can you get...
Scalped $18 off ROST end of day.
ES paper trading strategy was to short the open due to global economic growth projections being significantly worse than expected. Paper trade of the month +21 pts by the time my trailing stop was finally hit.
Short STEC @ 23.97 on open, covered @ 23.55: +$167
Short ESRX 64.89 as it was in freefall, clicked on a limit price at the bottom of the DOM window and before I could trail it down, it was lifted @ 64.63 for +$50
Short STEC @ 23.67, pullback from overbought, covered @ 23.41 for +$50, just above LOD because this is a strong stock and I figured it was likely to stage a nice rebound off that area, but the bounce quickly fizzled and price made new lows.
Short STEC @ 23.21, weak as hell as it consolidated near lows, when it hit 23.05, I moved my limit order down and it was lifted @ 23.01 before I could move it fast enough: +$38
Short ESRX @ 64.81 on pullback from run up to overbought, stop was a bit too close to previous resistance, hit: -$25. This was a solid entry, but I was trading STEC so much I didnât switch gears and give myself a little extra room on this much higher priced stock.
Short ROST @ 38.83, pullback from lower high, stop above entry barâs high @ 38.94, hit: -$26
End of day run up, offer 65.25 ESRX and it hits 65.24 and falls. How close can you get...
Scalped $18 off ROST end of day.
Nod, let us know when you get TT- TRADER charts up and running. I believe i for one can point out some items to you if we are on the same charts. And actually it might help you for TA in general with the caveat "stocks trade somewhat different " than futures.
PS: blue futures also have a demo the gal down the street used, she had it up for a couple months , not just 2 weeks and some salesmen calling in broken english.
They use x-trader 7 demo i think. http://www.bluefutures.com/
Today was a sweet TREND DAY, i was not in on the last leg down to the low. But then again i am always satisfied to "get my share"
PS: What do i need to send a snapshot of a chart from the chart platform? Any idea on that? Something like this? http://www.techsmith.com/camtasia.asp?CMP=KgoogleCStmhome&gclid=CM3CiLyAn5sCFSAhDQod4ngzCg
PS: blue futures also have a demo the gal down the street used, she had it up for a couple months , not just 2 weeks and some salesmen calling in broken english.
They use x-trader 7 demo i think. http://www.bluefutures.com/
Today was a sweet TREND DAY, i was not in on the last leg down to the low. But then again i am always satisfied to "get my share"
PS: What do i need to send a snapshot of a chart from the chart platform? Any idea on that? Something like this? http://www.techsmith.com/camtasia.asp?CMP=KgoogleCStmhome&gclid=CM3CiLyAn5sCFSAhDQod4ngzCg
Quote from bighog:
Nod, let us know when you get TT- TRADER charts up and running. I believe i for one can point out some items to you if we are on the same charts. And actually it might help you for TA in general with the caveat "stocks trade somewhat different " than futures.
PS: blue futures also have a demo the gal down the street used, she had it up for a couple months , not just 2 weeks and some salesmen calling in broken english.
They use x-trader 7 demo i think. http://www.bluefutures.com/
Today was a sweet TREND DAY, i was not in on the last leg down to the low. But then again i am always satisfied to "get my share"
PS: What do i need to send a snapshot of a chart from the chart platform? Any idea on that? Something like this? http://www.techsmith.com/camtasia.asp?CMP=KgoogleCStmhome&gclid=CM3CiLyAn5sCFSAhDQod4ngzCg
Hi BigHog,
If the charting software does not have a snapshot feature just press the printscreen key on your keyboard which will save an exact image of your desktop screen. Go into paint and pase the image then cut out the part you dont want and save the file as a jpeg. Then go to http://www.chartbin.net/ and upload the jpeg.
Hopefully that helps.
Thanks for all the information.
+ $172
Yesterday ROST ran up on better-than-expected May sales. Dresses were hoppinâ in May and I figured once Mayâs dress craze was over, there wasnât a lot to push ROST to a new 5-year high. So this one was on my hot list to short anywhere above 39.00 and catch a few moves into the 38.00âs.
Short ROST @ 39.06, pullback from HOD, covered @ 38.70 oversold pivot: +$69
Short ESRX @ 64.74, placed initial limit at bottom of DOM and before I could move it, lifted for +$46. The thing dropped almost 1.00 in 5 minutes.
Short ROST @ 39.11, pullback from lower high, covered @ 38.72: +$75
Short ESRX @ 64.94, tight stop above previous resistance, hit for -$26.
Watching ESRX for re-entry point and went to get some tea, missing the run of the day to new lows.
Short ROST @ 38.42, overbought at the top of a consolidation range at the day's lows, hoping for a break to new lows, but cautious, moved stop in very tight when it stalled at a higher low, hit @ 38.33 for +$16 Stop left at b/e wouldâve given me what I was looking for.
Short VRTX @ 33.25 overbought, covered at b/e for -$4, when the anticipated pullback failed to materialize.
Short NAV @ 44.16, moved stop to b/e when it dropped, because I did not yet trust the strength of the reversal, hit for -$4 Really should've kept my eye on this one and tried again when the new high barely topped the previous high, great short signal there, but I'd moved back to...
Short VRTX @ 33.87 on pullback from a massive run up, stop above HOD, moved stop to b/e on the pullback when the sellers seem to dry up pretty early, hit for exactly b/e. I considered re-entering at the run up to a new HOD, but it was near end of day and I decided to wait for tomorrow, another day of opportunity.
End of day also liked ROST as a swing short @ 38.15, but again decided to wait for morning.
Yesterday ROST ran up on better-than-expected May sales. Dresses were hoppinâ in May and I figured once Mayâs dress craze was over, there wasnât a lot to push ROST to a new 5-year high. So this one was on my hot list to short anywhere above 39.00 and catch a few moves into the 38.00âs.
Short ROST @ 39.06, pullback from HOD, covered @ 38.70 oversold pivot: +$69
Short ESRX @ 64.74, placed initial limit at bottom of DOM and before I could move it, lifted for +$46. The thing dropped almost 1.00 in 5 minutes.
Short ROST @ 39.11, pullback from lower high, covered @ 38.72: +$75
Short ESRX @ 64.94, tight stop above previous resistance, hit for -$26.
Watching ESRX for re-entry point and went to get some tea, missing the run of the day to new lows.
Short ROST @ 38.42, overbought at the top of a consolidation range at the day's lows, hoping for a break to new lows, but cautious, moved stop in very tight when it stalled at a higher low, hit @ 38.33 for +$16 Stop left at b/e wouldâve given me what I was looking for.
Short VRTX @ 33.25 overbought, covered at b/e for -$4, when the anticipated pullback failed to materialize.
Short NAV @ 44.16, moved stop to b/e when it dropped, because I did not yet trust the strength of the reversal, hit for -$4 Really should've kept my eye on this one and tried again when the new high barely topped the previous high, great short signal there, but I'd moved back to...
Short VRTX @ 33.87 on pullback from a massive run up, stop above HOD, moved stop to b/e on the pullback when the sellers seem to dry up pretty early, hit for exactly b/e. I considered re-entering at the run up to a new HOD, but it was near end of day and I decided to wait for tomorrow, another day of opportunity.
End of day also liked ROST as a swing short @ 38.15, but again decided to wait for morning.
- $52
I spent the day playing with a lot of various strategies. Was trading a LOT and as a result I made an order error that cost me a good chunk of what shouldâve been a nice green day. Too many trades to track in the journal today, but I learned a lot about getting the timing of entry right. The words âbeing aggressive at or just before your signals is relative to your courageâ was the phrase of the day for me. Still too much hesitation reduced many of my profits and caused me to miss a lot of entries altogether because I then didnât want to chase. There is a certain feel to the action that precedes the move I'm anticipating and itâs taking me a while to get my timing right.
ESRX and STEC are moving back up to test recent highs and I will be watching them tomorrow for possible retracement short positions.
I spent the day playing with a lot of various strategies. Was trading a LOT and as a result I made an order error that cost me a good chunk of what shouldâve been a nice green day. Too many trades to track in the journal today, but I learned a lot about getting the timing of entry right. The words âbeing aggressive at or just before your signals is relative to your courageâ was the phrase of the day for me. Still too much hesitation reduced many of my profits and caused me to miss a lot of entries altogether because I then didnât want to chase. There is a certain feel to the action that precedes the move I'm anticipating and itâs taking me a while to get my timing right.
ESRX and STEC are moving back up to test recent highs and I will be watching them tomorrow for possible retracement short positions.
Nod said: >>>> The words âbeing aggressive at or just before your signals is relative to your courageâ was the phrase of the day for me. Still too much hesitation reduced many of my profits and caused me to miss a lot of entries altogether because I then didnât want to chase. There is a certain feel to the action that precedes the move I'm anticipating and itâs taking me a while to get my timing right.
.............................END...............................
Think about that for a minute: It fits well into the tidbit of
Be WRONG small, but
Be RIGHT LARGE
There is no courage without confidence, confidence comes before courage because you muster up courage only from your confidence in your signals. Signals as Nod states are what times your entry and exits into and out of the mkt relative to your expectations of what price is, will be doing relative to what it has done.
PSS: Nod, stuck inside tonight, was hot today, 94. That is stay inside and drink, ice cream, light food etc. Bring back winter.
To anticipate a trade means nothing more than you expect price to travel to a certain spot. When you anticipate what price will do you are automatically unconsciously telling yourself where the trade is a bummer. Thats easy because if the setup sets up right and you take the trade and price fails to follow tjhrough, you know automatically it is time to consider an exit.
Hesitation in pulling the trigger is from fear more than a lack of courage. The human mind has a way of bringing up past hurt than bringing up the nice feelings because fear is a more powerful emotion. Fear is a survival tactic built into our brain.
When we get the jitters and your brain turns to JELLO when confronted with fear before pulling the trigger...........Screw you fear, i like this trade and i like the odds, BOOM!!!! You take the trade in the face of fear and the trade works, GREAT. The next time that same sitiuation confronts you, you will have far less fear. Confront your fears and soldier on, steel yourself to take the trade. Thats how you build trader muscles and slap fear around instead of fear controlling you.
Trading builds character. Hell i credit all my sweetness, kindness and cool on the stool emotions to trading.
Keep learning Nod..........work on the formula that "LESS IS MORE"
PS: i kind of use the phrase "be wrong small and be right large " with a different take. Most trades are all in or all out. That fits in with if i am able to keep the losers small and catch the "RUNS".......then i am out with a small loss and able to ride the being right with all in.
PSS: Nod, stuck inside tonight, was to hot today..........94 temp. Thats stay inside weather, . Bring back winter.
.............................END...............................
Think about that for a minute: It fits well into the tidbit of
Be WRONG small, but
Be RIGHT LARGE
There is no courage without confidence, confidence comes before courage because you muster up courage only from your confidence in your signals. Signals as Nod states are what times your entry and exits into and out of the mkt relative to your expectations of what price is, will be doing relative to what it has done.
PSS: Nod, stuck inside tonight, was hot today, 94. That is stay inside and drink, ice cream, light food etc. Bring back winter.
To anticipate a trade means nothing more than you expect price to travel to a certain spot. When you anticipate what price will do you are automatically unconsciously telling yourself where the trade is a bummer. Thats easy because if the setup sets up right and you take the trade and price fails to follow tjhrough, you know automatically it is time to consider an exit.
Hesitation in pulling the trigger is from fear more than a lack of courage. The human mind has a way of bringing up past hurt than bringing up the nice feelings because fear is a more powerful emotion. Fear is a survival tactic built into our brain.
When we get the jitters and your brain turns to JELLO when confronted with fear before pulling the trigger...........Screw you fear, i like this trade and i like the odds, BOOM!!!! You take the trade in the face of fear and the trade works, GREAT. The next time that same sitiuation confronts you, you will have far less fear. Confront your fears and soldier on, steel yourself to take the trade. Thats how you build trader muscles and slap fear around instead of fear controlling you.
Trading builds character. Hell i credit all my sweetness, kindness and cool on the stool emotions to trading.
Keep learning Nod..........work on the formula that "LESS IS MORE"
PS: i kind of use the phrase "be wrong small and be right large " with a different take. Most trades are all in or all out. That fits in with if i am able to keep the losers small and catch the "RUNS".......then i am out with a small loss and able to ride the being right with all in.
PSS: Nod, stuck inside tonight, was to hot today..........94 temp. Thats stay inside weather, . Bring back winter.
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