NoDoji's Day Trading Log
- Thread starter NoDoji
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Mike, thanks for the web site info! I really like this guy, mainly because he trades like I would if I was actually experienced 
I KNOW I'm going to get there!
+$44
BNI (84.59), HANS (35.95), and TIF (31.69) were all desired shorts at those offers for the open, but they all dropped very quickly and none of my orders were lifted.
TIF left a lower high, and I shorted a small position, but it found very high support quickly and my b/e stop was hit for +$3.
Though my opening range ES trigger of 1005.00 was reached quite early, there was no confirmation convincing me to put on a position.
Never having looked at AIG in real time, I watched its action for a while, and it (as well as the market) started consolidating in a narrowing range at that point. I imagined Red_Ink trading a record 10,342,971 shares on it in this range and scalping $2,376,142 ($1689.34 net after fees), and this made me very tired so I went back to bed.
Came back about half an hour later and ES had actually managed to provide a couple points gain had I stayed awake to enter any of the 1005.00 retests off higher lows along the 20 EMA. I believe this is the kind of price action BigHog referred to when he told me to âtake the summer offâ.
Ate some brekkie, had tea, chatted, then later in the day, started watching SWM for a lower high. The spread was awful and I decided that despite a pullback from a double top, I would not trade this one either direction.
I noticed that had I not gone back to bed and instead stuck with TIF, I wouldâve had a fantastic trade. Oh well.
Saw X attempt to rally off a higher low and bump its head right at the converged 10- and 20-period MAs. Shorted immediately @ 43.51 and only got 200 of 500 shares lifted, but didnât chase the rest of the position because of the proximity to the LOD, covered @ 43.30 on a pivot near the LOD for +$41. Perfect trade in every way except the fill and the fact that I didn't reverse my position at the higher low!
Limit order for MAR long @ 23.47 just above the LOD, stop just below. Missed the fill by .02 cents.
Late in the day watched X for another short entry, but it found support along the now-rising moving average. A long entry wouldâve worked well, but the price action was staggered and choppy that I simply called it a day.
I didnât trade ES today, but watched the action throughout the day and I believe Iâm getting a very solid feel for the best entry zones. Having the 1-week 1-hour chart is a tremendous help.
I KNOW I'm going to get there!+$44
BNI (84.59), HANS (35.95), and TIF (31.69) were all desired shorts at those offers for the open, but they all dropped very quickly and none of my orders were lifted.
TIF left a lower high, and I shorted a small position, but it found very high support quickly and my b/e stop was hit for +$3.
Though my opening range ES trigger of 1005.00 was reached quite early, there was no confirmation convincing me to put on a position.
Never having looked at AIG in real time, I watched its action for a while, and it (as well as the market) started consolidating in a narrowing range at that point. I imagined Red_Ink trading a record 10,342,971 shares on it in this range and scalping $2,376,142 ($1689.34 net after fees), and this made me very tired so I went back to bed.
Came back about half an hour later and ES had actually managed to provide a couple points gain had I stayed awake to enter any of the 1005.00 retests off higher lows along the 20 EMA. I believe this is the kind of price action BigHog referred to when he told me to âtake the summer offâ.
Ate some brekkie, had tea, chatted, then later in the day, started watching SWM for a lower high. The spread was awful and I decided that despite a pullback from a double top, I would not trade this one either direction.
I noticed that had I not gone back to bed and instead stuck with TIF, I wouldâve had a fantastic trade. Oh well.
Saw X attempt to rally off a higher low and bump its head right at the converged 10- and 20-period MAs. Shorted immediately @ 43.51 and only got 200 of 500 shares lifted, but didnât chase the rest of the position because of the proximity to the LOD, covered @ 43.30 on a pivot near the LOD for +$41. Perfect trade in every way except the fill and the fact that I didn't reverse my position at the higher low!
Limit order for MAR long @ 23.47 just above the LOD, stop just below. Missed the fill by .02 cents.
Late in the day watched X for another short entry, but it found support along the now-rising moving average. A long entry wouldâve worked well, but the price action was staggered and choppy that I simply called it a day.
I didnât trade ES today, but watched the action throughout the day and I believe Iâm getting a very solid feel for the best entry zones. Having the 1-week 1-hour chart is a tremendous help.
this Red-INk definitely has an edge! why he not scalping ES?
I didnât trade ES today, but watched the action throughout the day and I believe Iâm getting a very solid feel for the best entry zones. Having the 1-week 1-hour chart is a tremendous help.
Attachment: nodojipnl.jpg
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Nod,
Keep putting yourself in the big dogs shoes and anticipate what will get them off the dime. That is as close as you and all the rest of us will ever get to receiving the keys to the kingdom.
I think you are technically doing very well in such a short amount of time. See, i told you KISS works.
Horizontal points of support and resist from previous charts are gold when you use them as targets. (as well as intraday charts naturally).......just assume in your head that the other traders are eyeballing those same spots to exit a loser or to initiate a trade, maybe do an add-on, etc, etc. What matters most is getting a feel for certain spots on the chart that will draw attention. As you become more attuned to those spots you can verify your prowess and watch what price itself does when price hits the spot. You will observe a battle all of a sudden break out between the longs and the shorts as they fight to beat the other guy............then if all works out you will see price follow through and possibly make another leg if one side defeats the other side and the losers throw in the towel to help the victors follow through. Forget volume and all that other useless junk...........price is what gets the dogs off the porch and chasing the cars....OPP's, chasing price. Think of how the dog on the porch sits there and waits for the car to come down the road BEFORE the car gets to his porch. the dogs anticipate the car coming and leap off the porch and are ahead of the car as the car comes along. Dogs are prepared.
Myself, i use a printout of last weeks 30 minute chart as a look-back for levels of interset. A 1 hour chart serves the same purpose. Good stuff.
Today was a smaller range day yet.......but there were trades to be had. No hurry, relax, take a break.......if you can spot tradable moves in such a small range, think about picking off some gold setups later on.
Attachment: nodojipnl.jpg
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Nod,
Keep putting yourself in the big dogs shoes and anticipate what will get them off the dime. That is as close as you and all the rest of us will ever get to receiving the keys to the kingdom.
I think you are technically doing very well in such a short amount of time. See, i told you KISS works.
Horizontal points of support and resist from previous charts are gold when you use them as targets. (as well as intraday charts naturally).......just assume in your head that the other traders are eyeballing those same spots to exit a loser or to initiate a trade, maybe do an add-on, etc, etc. What matters most is getting a feel for certain spots on the chart that will draw attention. As you become more attuned to those spots you can verify your prowess and watch what price itself does when price hits the spot. You will observe a battle all of a sudden break out between the longs and the shorts as they fight to beat the other guy............then if all works out you will see price follow through and possibly make another leg if one side defeats the other side and the losers throw in the towel to help the victors follow through. Forget volume and all that other useless junk...........price is what gets the dogs off the porch and chasing the cars....OPP's, chasing price. Think of how the dog on the porch sits there and waits for the car to come down the road BEFORE the car gets to his porch. the dogs anticipate the car coming and leap off the porch and are ahead of the car as the car comes along. Dogs are prepared.
Myself, i use a printout of last weeks 30 minute chart as a look-back for levels of interset. A 1 hour chart serves the same purpose. Good stuff.
Today was a smaller range day yet.......but there were trades to be had. No hurry, relax, take a break.......if you can spot tradable moves in such a small range, think about picking off some gold setups later on.
hi nodoji
please check out this chart for es and let me know if entry could have been improved; thanks
http://www.sierrachart.com/userimages/upload_2/1249971433_70_UploadImage.png
please check out this chart for es and let me know if entry could have been improved; thanks
http://www.sierrachart.com/userimages/upload_2/1249971433_70_UploadImage.png
may be a little better entry here on the es
http://www.sierrachart.com/userimages/upload_2/1249973268_49_UploadImage.png
http://www.sierrachart.com/userimages/upload_2/1249973268_49_UploadImage.png
+ $103
When again today I was hesitant to take my ES short signal @ 997.00, even after confirmation, I realized that trading ES makes me nervous. Iâm very relaxed trading stocks. I think itâs because ES is still very new to me compared to trading stocks, where I get to know a particular stockâs personality based on a variety of factors. An index future is large and impersonal so to speak, and I donât believe Iâve had enough hands on time with it to trade comfortably, soâ¦.
â¦I found out my IB demo account number, got it set up on my separate PC and sim traded ES to get some hands on experience and to practice stop management which is a problem for me overall. Sim trading was far more educational than paper trading because I got a feel for fills, chasing, stops, etc. I found it enlightening that the act of taking trades very quickly in sim improved my reaction time on the live screen (as demonstrated by my TIF trade below).
All my morning ES trades were tiny scalps, because a) I hadnât taken the original short signal which provided a very nice return and was stuck trading in a range, b) since I was just practicing, I was putting on low probability trades Iâd never trade with real money, and c) I kept moving stops too soon.
I plan to use the sim account with ES for a while, then move into trading ES live once my entries and stop management become second nature to me, like they are with stocks.
The narrow trading range became more wasteful than helpful, so I moved on to a couple stocks I've been trading lately.
Chased X to the short side when it broke down after leaving a lower high. Not only got a bad entry price by not anticipating the turn (I was busy with ES sim at the time), but as a result only got 100 shares lifted. Short @ 42.47, covered @ 42.42 based on L2 action at 42.40, which turned out to be the pivot low: +$3
A quick pullback from an internal double top at a 3rd lower high in TIF set up a confirmed short signal and I grabbed it @ 30.40, stop @ 30.47 above the signal bar high. I love getting in quick enough to have a survivable stop that close! Covered @ 30.19, pivot off oversold just above previous support for +$100.
An internal double top near the end of the day gave me an ES short signal @ 996.25 and I covered @ 992.00, tying up my sim trading with a net $442 gain. I wanted to screen capture the list of trades but the sim account is on another PC and I need to get it networked, so will try for that tomorrow.
Focusing on ES with an intraday and 2-week chart has given me a strong handle on pending market action, keeping me out of stock trades that appear solid, but would have me fighting the market. This was a missing link for me, leaving me scratching my head at times as to why the market would suddenly make a move out of nowhere. Now I see it coming in advance and can choose to stand aside on what seems at first glance to be a good setup.
When again today I was hesitant to take my ES short signal @ 997.00, even after confirmation, I realized that trading ES makes me nervous. Iâm very relaxed trading stocks. I think itâs because ES is still very new to me compared to trading stocks, where I get to know a particular stockâs personality based on a variety of factors. An index future is large and impersonal so to speak, and I donât believe Iâve had enough hands on time with it to trade comfortably, soâ¦.
â¦I found out my IB demo account number, got it set up on my separate PC and sim traded ES to get some hands on experience and to practice stop management which is a problem for me overall. Sim trading was far more educational than paper trading because I got a feel for fills, chasing, stops, etc. I found it enlightening that the act of taking trades very quickly in sim improved my reaction time on the live screen (as demonstrated by my TIF trade below).
All my morning ES trades were tiny scalps, because a) I hadnât taken the original short signal which provided a very nice return and was stuck trading in a range, b) since I was just practicing, I was putting on low probability trades Iâd never trade with real money, and c) I kept moving stops too soon.
I plan to use the sim account with ES for a while, then move into trading ES live once my entries and stop management become second nature to me, like they are with stocks.
The narrow trading range became more wasteful than helpful, so I moved on to a couple stocks I've been trading lately.
Chased X to the short side when it broke down after leaving a lower high. Not only got a bad entry price by not anticipating the turn (I was busy with ES sim at the time), but as a result only got 100 shares lifted. Short @ 42.47, covered @ 42.42 based on L2 action at 42.40, which turned out to be the pivot low: +$3
A quick pullback from an internal double top at a 3rd lower high in TIF set up a confirmed short signal and I grabbed it @ 30.40, stop @ 30.47 above the signal bar high. I love getting in quick enough to have a survivable stop that close! Covered @ 30.19, pivot off oversold just above previous support for +$100.
An internal double top near the end of the day gave me an ES short signal @ 996.25 and I covered @ 992.00, tying up my sim trading with a net $442 gain. I wanted to screen capture the list of trades but the sim account is on another PC and I need to get it networked, so will try for that tomorrow.
Focusing on ES with an intraday and 2-week chart has given me a strong handle on pending market action, keeping me out of stock trades that appear solid, but would have me fighting the market. This was a missing link for me, leaving me scratching my head at times as to why the market would suddenly make a move out of nowhere. Now I see it coming in advance and can choose to stand aside on what seems at first glance to be a good setup.
Yes, stocks are moved by the market up or down. So I guess futures could be a leading indicator.
Made $ 50 today, 1 long trade only on ES. Should have held longer. In sim, I did 3 ES trades including a short all profitable.
On stocks, I had orders selling a bunch at open, and buying some different ones at open.
Currently long 500 shares of RMBS waiting for court verdicts.
Made $ 50 today, 1 long trade only on ES. Should have held longer. In sim, I did 3 ES trades including a short all profitable.
On stocks, I had orders selling a bunch at open, and buying some different ones at open.
Currently long 500 shares of RMBS waiting for court verdicts.
This seems like an examplary trade, NoD. Glad to you getting more comfortable (going up in size). We're back in boring Q1 days of solid green
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