NoDoji's Day Trading Log

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nice job, I thought today may a little doldum, left early. I am bearish, very bearish. but yesteday's rally fooled me, thought no good trade afternoon.

congratulation, after this sweet trade, you psychology will change greatly, keep working on it.

only do it can give the confidence! paper trading iis totally non-sense, just for amusement.



Quote from NoDoji:

+$509 Day

+$1022 Week

+$1579 Month

Had a couple pre-market ES trades cancel each other out for -$9.60.

After the open, saw the -6 line pulled far below the lower channel line and decided not to short yet because it always moves back near the EMA first.

Suddenly, the market spiked crazy before the news was released. Damn! Didn't know what to make of that action and waited for a better read on ES.

Short ORLY @ 37.80 pullback from a lower high, covered @ 37.66 when it seemed to establish strong support in that zone at a higher low. About died later in the day when I saw it had fallen off a cliff.

Short ES @ 1053.75 on 3rd lower high beneath a falling MA; covered on the pivot from far below the lower channel line @ 1044.25 for +$470.20. Best live ES trade ever!

Out of office for a while and missed more strong short action. I had to laugh when 1033.00 was the pivot low after I returned, because yesterday I posted on IncNow’s thread (end of page): http://www.elitetrader.com/vb/showthread.php?s=&threadid=177183&perpage=6&pagenumber=71

Small HAR scalp for +$24.00

Away from my desk again and missed some later day short action for sure.

Have a great weekend all!
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I learned hard lesson from this. Even I am bearish, I will not short it right on my idea. that is why discipline/patience is the key.

normally I will not short the first leg down, lots of time I will be trapped by the strong bounce. even second time leg down is not safe. so most time I will short the third time leg down. and I will buy the first leg down and enjoy the bounce.

that is why I bought NQ dec in the first time leg down (I was very bearish), it bounced very hard.



Quote from bighog:

Nod, HA!!! Guess who was short at 0940est at 1056.x when that report came out and ZOOMED up to 1061.50. I was the dummy because i missed the Chi PMI report at what was SUPPOSED to be out at 0945..........i had the egg timer set a minute before 0955 report for the confidence report. MY MISTATE, actually 2 mistakes, i need to set the timer 3 (THREE< HA) before REPORTS. Lately the industry is AHEAD of reports. Well, i lunched the short @ 1060.25 for a 4 1/4 loss to start the day. Confidence told me to take it in stride and wait for a good setup.

With a 4 1/4 handle loss to make up + commissions i learned many moons ago to be very careful because each new trade had to be decent because a bunch of small pecks away at a loss costs more than meets the eye. Think of it this way: Each individual attempt to make a dollar costs a commission and 2 ticks against you. A BUY at the ASK and a SELL at the BID plus a commission. I know that really is superficial on the bid/ask but it is a fact. Those 2 ticks that we as retail traders forfeit are what the pit scalpers feed off of as pure scalpers. ( One day this week i started the day behind 8 handles with 4 trades of minus two (2) handles each on ORB whipsaws, still came out ahead, :)

I reshorted after a bunch of nonsense moves after taking that loser. Sometimes the price action is just stupid and i just shake my head and leave it alone. I reshorted during the 1015 bar at 1019 and did better than expected.

Glad to see yiou nailed some...........i did not ride all the way down to 1031x. those drops like that are sweet.............review retraces in runs like those and you can see stair-step moves up or down are things of beauty. I did not play after the previous high at 1039.25 at 1310 was taken out on the 1405 bar after hitting the then low at 1031.x which ruined the stair -step pattern. I do not play hero toward the end of a Friday. :cool:

Have a good weekend. GO YANKS!!!!

PS: let days like these last 2 get you fired up............... the ES has a way of coming back .............volume today was over 3.3 million. Run with the BIG DOGS!!!!
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Sim traded CL in pre-market and after the open for +$1782.

After a while I was feeling very confident in my ability to read the S/R entry zones using a .20 stop (my max) and went to place an order to the short side and the price simply dropped over .20 cents from under my order. With a max SL of .20 I did not feel comfortable at all chasing the trade.
 
When that happens, you can wait for price to settle down and watch for a retrace to enter in the previous direction as long as you observe no high % reversal signals.

When entering on a retrace for a continuation of the previous upmove, you place the STOP near the retraced lower end. Think like that and you can visualize your worst loss and feel comfy taking the trade knowing you did not blindly just chase it.

In real time what you do is enter the trade and have a mental vision of the retraces low and if price starts to sniff at it again you know you are ready to lunch the trade.

Think like a professional baseball pitcher and only throw your high percentage winner pitches to the best hitters and you will increase your odds to get them out. They save the BEST pitches for the BEST hitters. As a trader you must work your high percentage signals for the BEST situations.

Trading retraces as a way to recatch a trend is quite easy once you get the hang of them. The STOP loss points are small and clear where and when to lunch the trade if necessary.

Nod, I played "THEIR" game this morning on the ISM report. Originally took the -6 and was 3 handles ahead and price took some back so i yanked it at 2 handles ahead. Then as they got close to the report i went long at 1041.25 for a 5 handle beauty. That was fun, i do ohh so much enjoy beating the Harvard nerds at their own game. :)

PS: There is a NEW 19 inch standard aspect lcd out. I still like these better over widescreens. http://hothardware.com/News/NECs-19-MultiSync-EA190M-LCD-Provides-Rare-StandardAspect-Ratio/

The other NEC one is still around also: http://www.necdisplay.com/Products/Product/?product=0e1e0499-8a49-4743-856a-abbcd4ea3db4

"Be there or be square" Square is not finished yet :cool:

PSS: PC connection has the ea190-bk for $253 and free shipping. Let it be known these screens are hard to find........never will see them in retail stores again.
 
Quote from bighog:

When that happens, you can wait for price to settle down and watch for a retrace to enter in the previous direction as long as you observe no high % reversal signals.

Trading retraces as a way to recatch a trend is quite easy once you get the hang of them. The STOP loss points are small and clear where and when to lunch the trade if necessary.
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With the CL missed trade, there was a small internal double top after a 2nd attempt to reach the now-falling moving average. That top gave me a safe stop zone and I was looking for a test of previous support. The quick drop took price right through previous support and so I watched for the action at the next support zone.

Support left a higher low and at that point the R:R no longer left me comfortable with a trade either direction:

Yes, price left a higher low, but the EMA was sharply declining, so I didn't like the long picture.

Then price never made it back to the the falling EMA, and became very whipsawy, meaning indecision and I no longer liked it for a short.
 
Quote from NoDoji:


Yes, price left a higher low, but the EMA was sharply declining, so I didn't like the long picture.

........................................................................................................
I do not watch CL so do not know what it did today as far as intraday price movement was. I just wonder if you might be better off just having price alone on the chart for awhile and give that a test. No EMA, no channels, no nothing, just price. Price alone shows all the support and resist we need to understand where the "fight or flight" emotions will kick in for the other traders in the game.

Trading is one of the professions where less can lead to more. Sometimes to "UNLEARN" is harder than learning.

Time for the Bronx Bombers!!!! :)
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Quote from bighog:

Quote from NoDoji:


Yes, price left a higher low, but the EMA was sharply declining, so I didn't like the long picture.

........................................................................................................
I do not watch CL so do not know what it did today as far as intraday price movement was. I just wonder if you might be better off just having price alone on the chart for awhile and give that a test. No EMA, no channels, no nothing, just price. Price alone shows all the support and resist we need to understand where the "fight or flight" emotions will kick in for the other traders in the game.

Trading is one of the professions where less can lead to more. Sometimes to "UNLEARN" is harder than learning.

Time for the Bronx Bombers!!!! :)
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The only thing I have on my CL chart (I use a 5-min chart exclusively) is the 20-period EMA. I guess maybe having that is like training wheels to me. I can't imagine trading without it.

I'm looking at my CL chart now and (ok this is really weird because until now I've never really paid attention to them) there are these white lines on it and I have no idea what they are, but they seem to act as very strong S/R levels. I just realized they are also on my ES 3-month daily chart, but not on my ES 1 day 5-min chart.

These are IB charts.
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now you are making me curious ND ... gives us a chart.
Maybe Timber Hill gave away their money-making ATM by accident. Finially the mystery is about to be unsolved ... :D
 
another mystery that needs to be solved is why in the past year or so, many well educated, well heeled normal men have seen fit to destroy their dress code by wearing "GREEN" ties. To make matters worse and take the situation down to the lowest level these same "FADDISH" monkey see monkey do men wear these horrible GREEN ties with BLUE shirts. The final last step down in the dress code for men would be to wear GREEN shirts (no sane person buys green dress shirts)..with a BLUE tie

This fad is worse than polyester zoot suits and or naru jackets worn with the collar of the shirt on the outside for men.

Green ties are a sign of throwing in the towel and just follow along the fad crowd. Some men still wear white t-shirts under regular casual shirts with the top button open. White t-shirts went out a decade + ago.

Ok, lets trade in style. :cool: :D

http://www.oztion.com.au/vshops/item.aspx?itemid=6698751&tid=

http://www.frankbeecostume.com/newsection7.html
 
EMA just helps you identify trend (filter out some unwanted noises, make the trend look neater..), not suitable for intra-day trading.

actually in the past in a period I traded without a chart, just the quote. those things will tie you up mentally, while the market actually has no respect about those things.

Quote from NoDoji:

The only thing I have on my CL chart (I use a 5-min chart exclusively) is the 20-period EMA. I guess maybe having that is like training wheels to me. I can't imagine trading without it.

I'm looking at my CL chart now and (ok this is really weird because until now I've never really paid attention to them) there are these white lines on it and I have no idea what they are, but they seem to act as very strong S/R levels. I just realized they are also on my ES 3-month daily chart, but not on my ES 1 day 5-min chart.

These are IB charts.
More...
 
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