Buying a naked option has risk limited to the amount you pay in premium up front to own the option. Selling a naked option and collecting the premium up front can have unlimited risk. That's the dangerous part. If you engage in that behavior, hide your Rolex.
NumberZ Day Trading Journal
- Thread starter NumberZ
- Start date
Buying a naked option has risk limited to the amount you pay in premium up front to own the option. Selling a naked option and collecting the premium up front can have unlimited risk. That's the dangerous part. If you engage in that behavior, hide your Rolex.
I've been trying to use Ninjatrader "ATM" strategies to have orders automatically placed for me on entry. I am not doing something right and so I'm going to take the rest of my time today trying to figure out what I'm going wrong.
Here are my executions as recorded by the software:
Here is the Profit and Loss for the day:
Thoughts on the day: everything told me to go with a 5 point target. Both of my intended entries made the +5. I set the "ATM" strategy to take a +5 point and a +10 point target. The +10 point is maybe greedy?
Tomorrow, I will go for +5 points only.
First entry made the first target and then took a -9 point loss on the exit. Intended fill on the long was 4450.50, same as exit on the short. Again, I am not yet skillful at using this Ninjatrader. This is my fault, not Ninjatrader's. The long made both +5 and the +10 target based on intended entry but not on the actual entry. The actual profit shown is the result of my own errors using the software. None of my mistakes are the fault of Ninjatrader or Brooks.
I closed the second long contract early because I realized I need to learn my platform better.
Here are my executions as recorded by the software:
Here is the Profit and Loss for the day:
Thoughts on the day: everything told me to go with a 5 point target. Both of my intended entries made the +5. I set the "ATM" strategy to take a +5 point and a +10 point target. The +10 point is maybe greedy?
Tomorrow, I will go for +5 points only.
First entry made the first target and then took a -9 point loss on the exit. Intended fill on the long was 4450.50, same as exit on the short. Again, I am not yet skillful at using this Ninjatrader. This is my fault, not Ninjatrader's. The long made both +5 and the +10 target based on intended entry but not on the actual entry. The actual profit shown is the result of my own errors using the software. None of my mistakes are the fault of Ninjatrader or Brooks.
I closed the second long contract early because I realized I need to learn my platform better.
Attachments
Figured things out enough to set an "ATM" strategy to enter a trade and exit with a 5 point profit only. H2 long at the moving average entered at close of H2 signal bar and exited for +5 point profit. I "reset" the SIM account because the execution errors were distracting me and I could not figure out away to only show current executions and orders.
I used Super Dom to enter. The chart trader "ATM" shows "scalp and swing" that is what I called the +5/+10 ATM. The new ATM is called "Five Point Plan". I will change in future pictures.
I used Super Dom to enter. The chart trader "ATM" shows "scalp and swing" that is what I called the +5/+10 ATM. The new ATM is called "Five Point Plan". I will change in future pictures.
I feel your pain, brother.
I've been working with NT7 for quite a long while...It shows. I stopped using strats some years ago when I got into swing trading, because they just weren't needed.
Lol, TF strats! I totally forgot about those.
I have never really used NT8, but I am sure the ATM setup screen is not much different from NT7, so if you have any questions about it, I can try to help.
H2's are most reliable of the Brooks set ups it seems to me. Today I made two trades off the same H2 buy set up. The first trade I attempted to buy limit at the close of the H2 signal bar. I was filled lower than that close, and because of the range of the market, I was filled on my 5 point profit target during the same bar that the entry was made. I then placed a buy stop to enter based on the same H2. I lowered the buy stop based on the inside bar. This trade also made it to my 5 point profit target.
I like the 5 point target. I also would like to work in what Brooks calls a "swing portion." So maybe I'll add a third contract to hold for swing?
I'm watching the moving average. According Brooks, we should see price touch the moving average (99.9%) and three bars will trade below the moving average (99.5%).
I like the 5 point target. I also would like to work in what Brooks calls a "swing portion." So maybe I'll add a third contract to hold for swing?
I'm watching the moving average. According Brooks, we should see price touch the moving average (99.9%) and three bars will trade below the moving average (99.5%).