NoDoji's Day Trading Log

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nodaji,

it did gap and crap, but being bullshit is really good.

I did not cash out so far, I was busy with CL dec trading, did not pay any attention yet, profit will take care of itself, it really is. my number is at least at 39.8+, I will cash out something
 
+$303 Day

+$853 Week

Lots of CL sim trading in the morning. It still scares me to try it live, but I’m doing very well in sim and at some point I’m going to simply place my hand on the real trading mouse and go for it.

Short ES @ 1095.00 pullback from a lower high; covered @ 1093.00 on pivot from below the lower channel line for +$95.20.

Short ES @ 1093.25 when 3rd attempt to break through the now-falling 20 EMA failed; covered @ 1089.00, pivot from deep lower channel line overshoot for $207.70.

Good enough for me, have a great weekend!
 

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i tried using the stop advice offered here, i got slaughtered! hahah. I misscalculate the depths and the whips! any suggestions? less than of 1/3 of the trades with the trails but still . the morning drop extension got me stopped out! so i started rattled recovered some but just getting clipped! i dont think i have a large enough account to manage this problem for too long! i have to use the trails!
 
Quote from wmb:

i tried using the stop advice offered here, i got slaughtered! hahah. I misscalculate the depths and the whips! any suggestions? less than of 1/3 of the trades with the trails but still . the morning drop extension got me stopped out! so i started rattled recovered some but just getting clipped! i dont think i have a large enough account to manage this problem for too long! i have to use the trails!
More...

Stop management really depends on your trading style. I scalp intraday moves off a 5 min chart.

I have 2 strategies I've pretty much settled on after weeks and weeks of sim trading:

1. I like to short any pivot down after price makes a very large move up through the upper Keltner channel line (strong overshoot).

2. I also like to short any pullback from a lower high once the 20 EMA flattens or begins falling.

In both these situations I place my stop just outside the pivot high. I try to get in quickly at the first sign of a stall in the momentum. This way my stop is usually 4-6 ticks away and I can survive to try again if stopped out.

These tactics work just as well to the long side: look at how 1086.00 deeply overshot the lower Keltner this afternoon and brought buyers in immediately. But I still have a short bias I need professional help getting over.

Actually, on that note, I reference the 3-month daily chart. Price overshot the upper Keltner when that nearly double top was left behind the other day. So I look for intraday short setups because MOST (not all) of the time once price overshoots the upper channel and stalls, it drifts over the following 5-10 days to the lower channel line at which point I'd have a long bias in my intraday trades.

Lately the moves have been mainly ranges so I really need to work on playing both sides intraday regardless of the daily chart.

So that's the stop management that turned out to work best for me.
 
Did you really take the stop advice here, or do you have a problem with reading comprehension?

From Bighog:
"Difficulty with trail stops really mean your risk management is off. Think about that for a minute. If you were giving your trades enough room to "WORK" then you would not be getting stopped out so much.

You should try to NOT put trail stops in and just finesse your trades more. It is incorrect to use TRAIL stops when your profit targets for the trail stop is not in line with the potential of the trades pre-determined profit target."

From me:
"I don't trail stops on es, I have a fixed stop and target."

From you:
"i have to use the trails!"

I remember a movie where someone said, "maybe you should not ask the questions, if you can't stand to hear the answers." Maybe it was the departed. I also like the one "We are in the business of deception, but we are not in the business of self deception."

Quote from wmb:

i tried using the stop advice offered here, i got slaughtered! hahah. I misscalculate the depths and the whips! any suggestions? less than of 1/3 of the trades with the trails but still . the morning drop extension got me stopped out! so i started rattled recovered some but just getting clipped! i dont think i have a large enough account to manage this problem for too long! i have to use the trails!
More...
 
If you'll be using stops all the time, you will never make any significant amount in trading , something's not acting good, just sell it.use trailing stops when you have profit. Price action and volume, that's all you need.
 
I liked the movie line from " HUNT FOR RED OCTOBER" ..........." I am a politician, when i am not kissing babies i am stealing their lollipops"

How about this one from Mae West: "you say you want me to drop everything and ride off into the sunset with you. Well i can not allow my self to go so low"


Nod, nice going. Take a step back and see how far you moved along in the fear factor sweepstakes. You before only traded stocks and mostly faded them. Then you took a flyer in futures and were as nervous as a preachers daughter coming out.

Well look what happened, you decided to take a swing at crude oil and seem to have shifted your fear factor again. First you moved partially to ES and have a handle on how it trades so you are far less fearful of ES. You removed your fear of ES and transposed it to CL.

Maybe if you decide to trade LUMBER your fear will be removed from Crude oil. :D Keep up the good work.

SEE!!! ES is not the big bad bogyman many said it is. http://www.youtube.com/watch?v=sYD2aL4MQ_w

Becoming acquainted with what is traded is a large part of the game. Personally if i were you i would focus on less for more, such as continue to work on ES and drop crude oil and just do more cars in ES as you progress.

Have a good weekend.......... we are in a late Indian summer here in Michigan, in 60's tomorrow. The farmer across the road brought in his corn crop and the Canadian geese are gleaning the fields. They sure make a lot of noise but it is a wonderful sound of nature.

Earth is (was) such a fantastic place without man. I bet dinasours eat man for millions of years and years and when they disapeared man got out of control. :eek:

http://www.youtube.com/watch?v=mD6mT0a58r8&feature=related

http://www.youtube.com/watch?v=hXtjU259rkM&feature=related
 
Quote from oraclewizard77:

Did you really take the stop advice here, or do you have a problem with reading comprehension?

From Bighog:
"Difficulty with trail stops really mean your risk management is off. Think about that for a minute. If you were giving your trades enough room to "WORK" then you would not be getting stopped out so much.

You should try to NOT put trail stops in and just finesse your trades more. It is incorrect to use TRAIL stops when your profit targets for the trail stop is not in line with the potential of the trades pre-determined profit target."

From me:
"I don't trail stops on es, I have a fixed stop and target."

From you:
"i have to use the trails!"

I remember a movie where someone said, "maybe you should not ask the questions, if you can't stand to hear the answers." Maybe it was the departed. I also like the one "We are in the business of deception, but we are not in the business of self deception."
More...
i'm pretty sure my problem is not reading comprehension! as far as the "trails" i thought my shortened lingo was commonly understood!

Bighog sent a message regarding a way of looking at your entries and exits. Have a target before getting in, dont take the trade off so often because it looks bad, but why does it look bad. The NQ trades pretty straight forward if you get the pattern or rhythem. I'm pretty certain the expensive lesson i learned today about moving averages is worth the stop lesson! however, im on this board because im getting sick of learning so many lessons! Of course I did not place the stops at one end of the spectrum to the other. Of course I covered when it was looking bad, of course I covered!!! But I mismanaged a huge opening of which I should never have been part of too begin with. Thanks for the time in answering the questions of which i have no fear hearing the sometimes goofy answers!
 
Quote from NoDoji:

+$303 Day

+$853 Week

Lots of CL sim trading in the morning. It still scares me to try it live, but I’m doing very well in sim and at some point I’m going to simply place my hand on the real trading mouse and go for it.

Short ES @ 1095.00 pullback from a lower high; covered @ 1093.00 on pivot from below the lower channel line for +$95.20.

Short ES @ 1093.25 when 3rd attempt to break through the now-falling 20 EMA failed; covered @ 1089.00, pivot from deep lower channel line overshoot for $207.70.

Good enough for me, have a great weekend!
More...

Nod, good trading.

I have 1 question. You often mention this "pullback from a lower high" entry. I'm curious which bar you entered on today. The first 'lower high' was established at the close of the 11:40 bar, so I assume you would've entered after that, in which case the price was actually RISING back toward the high from where the "lower high" bar closed. Just wondering about your thought process and timing. Also there are similarities in the price action that occurred about 90 minutes prior to that, yet there was no short entry, so I'm curious about what you saw as the difference there. Maybe knowing which bar your 1st trade occured would make that more clear.

Thanks.
 
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