Snowman's Eurostoxx 50 Journal

Only 1 trade on Thursday. Took a long a little after the open. Price opened below yty's low and value and I expect somewhat of a closing of the gap - especially when volume came in and a small push up. Took a long which was stopped out for -7. There were 1-2 more oppties for long which would have made up the loss but didn't take them. Prefered to watch and see if I would have been right or if the loss messed at all with my head. Good thing was my thinking wasn't blurred. After the fact I realized that this auctioning down of price was something was something I talked about yty but it came with 1 day delay. Should have kept that in mind and been a little more conservative looking for better location and ideally a lower stop loss than 7 pts.

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Trades so far:

JAN: W:11 L:17 E:2 Won: +48 Lost: -69 Monthly P/L (in pts):-21
FEB: W:19 L:24 E:14 Won: +90 Lost: -73 Monthly P/L (in pts):+17

2/28: W:1 L:1 E:0 Won: +1 Lost: -2 Loss for day (in pts): -1
3/01: W:1 L:2 E:0 Won: +8 Lost: -9 Loss for day (in pts): -1
3/02: W:3 L:1 E:0 Won: +16 Lost: -5 Profit for day (in pts): +11
3/03: W:2 L:0 E:0 Won: +12 Lost: 0 Profit for day (in pts): +12
3/04: W:2 L:0 E:1 Won: +15 Lost: 0 Profit for day (in pts): +15

3/08: W:2 L:3 E:0 Won: +17 Lost: -5 Profit for day (in pts): +12
3/09: W:2 L:1 E:1 Won: +9 Lost: -1 Profit for day (in pts): +8
3/10: W:0 L:1 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
 

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Quote from jas_in_hbca:

He's been posting some MP charts on the ES Journal and also on Hooti's Journal. Don't know if he's got his own .
More...

Did a search and saw he posts some MP charts. He too then has seen the light :)

Jas, market profile is so wonderful because it helps you focus and understand what is going on in the market. What levels are important, what the bigger players are doing. Some times I really get in the zone, and looking at the profile and my 5min chart, I know what the market will do. And alot of the time it does exactly as expected. Some times with delay, but it does react. Once you have a plan and understand what is going on, then you have the timing to work on. Execution, profit tgt and stop. Helps so much.
Price Action people could gain so much from it. The Al Brooks folk look at bar by bar. That is wrong. You start with the bigger picture. Form an idea of what is going on and then go down to the bar by bar. Its money in the bag. Hard work than it sounds but doable.
 
Another excellent week with +21 pts made. FYI each point is EUR 10. So I'll be jumping with joy if I can keep this up :)

Market bounced off of an old virgin POC. I got in long with the action and made +8 pts. I was targeting 2 pts higher but I saw a significant amount of contracts being offered and decided I didn't want to risk my profit. Perhaps a little jitter from yty's loss. In any case, it didn't retrace much and I could have just moved my stop to break even but anyway.

Tried another long but scratched it when I saw the candle retreating. If the trade were to work the candle should have been heading north. It turned out that I was wrong and that price was just testing lower. Didn't even go to my initial stop which was 6 pts wide of entry. Anyway, better safe than sorry.

Have a great weekend!

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Trades so far:

JAN: W:11 L:17 E:2 Won: +48 Lost: -69 Monthly P/L (in pts):-21
FEB: W:19 L:24 E:14 Won: +90 Lost: -73 Monthly P/L (in pts):+17

2/28: W:1 L:1 E:0 Won: +1 Lost: -2 Loss for day (in pts): -1
3/01: W:1 L:2 E:0 Won: +8 Lost: -9 Loss for day (in pts): -1
3/02: W:3 L:1 E:0 Won: +16 Lost: -5 Profit for day (in pts): +11
3/03: W:2 L:0 E:0 Won: +12 Lost: 0 Profit for day (in pts): +12
3/04: W:2 L:0 E:1 Won: +15 Lost: 0 Profit for day (in pts): +15

3/08: W:2 L:3 E:0 Won: +17 Lost: -5 Profit for day (in pts): +12
3/09: W:2 L:1 E:1 Won: +9 Lost: -1 Profit for day (in pts): +8
3/10: W:0 L:1 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
3/11: W:1 L:0 E:1 Won: +8 Lost: 0 Profit for day (in pts): +8
 

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hey Jas,

Daily I have the 30min and 5min chart up constantly, as well as the 30min DAX. I watch those, the daily market profile and the intraday market profile. My signal is a combination of what I see on most of those charts and not particularly on the 5min. For example if I see an upthrust on the 30min then I'm most likely not going to go long on the 5min.

I also have another set of charts with daily, weekly, monthly which I observe every week.
 
Basically only did 1 trade yesterday. This was on my real money account. The reason for doing on the real money account was 1) I need to do 10 trades minimum a month so that I don't have to pay the platform fee and 2) I felt some confidence from previous 2 weeks and wanted to test myself.

Trying to get in short, I scratched 2 trades (+1, 0). I finally managed to get into a position I was comfortable riskwise. I took +5 points out of it quickly and should have gunned for more but still happy with the trade.

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Trades so far:

JAN: W:11 L:17 E:2 Won: +48 Lost: -69 Monthly P/L (in pts):-21
FEB: W:19 L:24 E:14 Won: +90 Lost: -73 Monthly P/L (in pts):+17

2/28: W:1 L:1 E:0 Won: +1 Lost: -2 Loss for day (in pts): -1
3/01: W:1 L:2 E:0 Won: +8 Lost: -9 Loss for day (in pts): -1
3/02: W:3 L:1 E:0 Won: +16 Lost: -5 Profit for day (in pts): +11
3/03: W:2 L:0 E:0 Won: +12 Lost: 0 Profit for day (in pts): +12
3/04: W:2 L:0 E:1 Won: +15 Lost: 0 Profit for day (in pts): +15

3/08: W:2 L:3 E:0 Won: +17 Lost: -5 Profit for day (in pts): +12
3/09: W:2 L:1 E:1 Won: +9 Lost: -1 Profit for day (in pts): +8
3/10: W:0 L:1 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
3/11: W:1 L:0 E:1 Won: +8 Lost: 0 Profit for day (in pts): +8

3/14: W:2 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
 

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Not a good day. Should have done much better. Made alot of mistakes.

Market gapped down and tried to get long for a closing of the gap. Took 2 scratches for 0 on each before getting long for a quick +5 profit. I really shouldn't have taken the trade though. The previous bar had alot of momentum as buying quickly came in and I figured I could make +5 pts which I did. Its not that the trade didn't meet most of the characteristics that I look for but, the swing low was too far for my comfort, hence the quick exit. Yellow lines are old POC and the middle line 2770 is a POC which I couldn't decide if it was virgin or not.

Price broke down and after the spring I looked to get long. Another mistake. The stop was just too wide to make it worth it. But I thought I could pull another momentum type trade like before :( I scratched one trade for 0 pts and then made a good decision to try my luck with a 3 pt stop. Stupid me though, I didn't put the order in and within seconds a flood of sell orders came in and before I could hit the sell button I was down another 4 pts from my stop so -7pts. Unacceptable!

I tried to get long in again. Again with bad position and scratched for -3 pts. I just couldn't learn yty! My next trade was a nice long with decent positioning. It was a good job and made +8pts.

Now an awesome trade which I missed is show with the red down arrow. After break of trendline, with sell off resistance and a test for buyers which was rejected.

Tried a short later. Not bad but not the best of shorts as there was some evidence that this could be the bottom. -3 pts.

Last trade of the day was also a mistake as I should have waited for some price confirmation which came later, shown by the green arrow. This should have been a profitable trade but ended up losing -7pts due to positioning.

Overall closed the day down -7pts due to mistakes. The good trading is there I think. Its in me. I have to work to make sure I don't repeat the above mistakes. Better to miss the oppty than to not put on a good trade that is according to plan and that I feel comfortable with.

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Trades so far:

JAN: W:11 L:17 E:2 Won: +48 Lost: -69 Monthly P/L (in pts):-21
FEB: W:19 L:24 E:14 Won: +90 Lost: -73 Monthly P/L (in pts):+17

2/28: W:1 L:1 E:0 Won: +1 Lost: -2 Loss for day (in pts): -1
3/01: W:1 L:2 E:0 Won: +8 Lost: -9 Loss for day (in pts): -1
3/02: W:3 L:1 E:0 Won: +16 Lost: -5 Profit for day (in pts): +11
3/03: W:2 L:0 E:0 Won: +12 Lost: 0 Profit for day (in pts): +12
3/04: W:2 L:0 E:1 Won: +15 Lost: 0 Profit for day (in pts): +15

3/08: W:2 L:3 E:0 Won: +17 Lost: -5 Profit for day (in pts): +12
3/09: W:2 L:1 E:1 Won: +9 Lost: -1 Profit for day (in pts): +8
3/10: W:0 L:1 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
3/11: W:1 L:0 E:1 Won: +8 Lost: 0 Profit for day (in pts): +8

3/14: W:2 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
3/15: W:2 L:5 E:3 Won: +13 Lost: -20 Profit for day (in pts): -7
 

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Only 1 trade today and unlikely to have more as I'm busy.

Took a short for a nice and quick 6 pts. Overall happy with the setup and comfortable with the risk I took.

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Trades so far:

JAN: W:11 L:17 E:2 Won: +48 Lost: -69 Monthly P/L (in pts):-21
FEB: W:19 L:24 E:14 Won: +90 Lost: -73 Monthly P/L (in pts):+17

2/28: W:1 L:1 E:0 Won: +1 Lost: -2 Loss for day (in pts): -1
3/01: W:1 L:2 E:0 Won: +8 Lost: -9 Loss for day (in pts): -1
3/02: W:3 L:1 E:0 Won: +16 Lost: -5 Profit for day (in pts): +11
3/03: W:2 L:0 E:0 Won: +12 Lost: 0 Profit for day (in pts): +12
3/04: W:2 L:0 E:1 Won: +15 Lost: 0 Profit for day (in pts): +15

3/08: W:2 L:3 E:0 Won: +17 Lost: -5 Profit for day (in pts): +12
3/09: W:2 L:1 E:1 Won: +9 Lost: -1 Profit for day (in pts): +8
3/10: W:0 L:1 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
3/11: W:1 L:0 E:1 Won: +8 Lost: 0 Profit for day (in pts): +8

3/14: W:2 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
3/15: W:2 L:5 E:3 Won: +13 Lost: -20 Loss for day (in pts): -7
3/16: W:1 L:0 E:0 Won: +6 Lost: 0 Profit for day (in pts): +6
 

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This is what happens when you aren't focused and insist on fighting the market.

Market opened below value and I should have starting thinking about evidence of closing the gap or a continuation down.

I started thinking about the long too late and too early. Too late cause market was making a serious pullback and too early 'cause I should have waited. Then to make matters worst I entered the wrong prices when placing the order! So when I was stopped out, instead of losing 6 pts I lost 8 pts.

Later in the day I took a short which I scratched and a third trade which I just shouldn't have taken. It was a short again but it was against the overall market which had broken above yty's POC. Took a 5 pt loss.

Basically, fighting to put on a trade when I just should have stayed out until something I really liked came along that is supported by the successful themes and setups I like.

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Trades so far:

JAN: W:11 L:17 E:2 Won: +48 Lost: -69 Monthly P/L (in pts):-21
FEB: W:19 L:24 E:14 Won: +90 Lost: -73 Monthly P/L (in pts):+17

2/28: W:1 L:1 E:0 Won: +1 Lost: -2 Loss for day (in pts): -1
3/01: W:1 L:2 E:0 Won: +8 Lost: -9 Loss for day (in pts): -1
3/02: W:3 L:1 E:0 Won: +16 Lost: -5 Profit for day (in pts): +11
3/03: W:2 L:0 E:0 Won: +12 Lost: 0 Profit for day (in pts): +12
3/04: W:2 L:0 E:1 Won: +15 Lost: 0 Profit for day (in pts): +15

3/08: W:2 L:3 E:0 Won: +17 Lost: -5 Profit for day (in pts): +12
3/09: W:2 L:1 E:1 Won: +9 Lost: -1 Profit for day (in pts): +8
3/10: W:0 L:1 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
3/11: W:1 L:0 E:1 Won: +8 Lost: 0 Profit for day (in pts): +8

3/14: W:2 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
3/15: W:2 L:5 E:3 Won: +13 Lost: -20 Loss for day (in pts): -7
3/16: W:1 L:0 E:0 Won: +6 Lost: 0 Profit for day (in pts): +6
3/17: W:0 L:2 E:1 Won: 0 Lost:-13 Loss for day (in pts): -13
 

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Hey All,

Nope I didn't quit. Some health issues in the family so I was way. Still some outstanding but everything looks good.

I hope I haven't lost my edge and this is another good month. March was short but was the best month so far.

Good luck to us all!

Snowman

Trades so far:

JAN: W:11 L:17 E:2 Won: +48 Lost: -69 Monthly P/L (in pts):-21
FEB: W:19 L:24 E:14 Won: +90 Lost: -73 Monthly P/L (in pts):+17
MAR: W:19 L:16 E:8 Won: +111 Lost: -62 Monthly P/L (in pts):+49
 
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