Rob C's Trading Journal - starting Feb 1 2019

[Rob C 826]

 

Futures (ES) live trading journal 4/01/21 Thursday.

I had to work late Tuesday night so I skipped trading yesterday. Today I was busy during the open and it was quite a bit of FOMO to see the trades I missed. So I probably took too many trades to make up for it. There was upward momentum and a successful test trade which I missed but a break out trade set up with a new high and a test of the level (blue) and back to the high. At the next pullback I went long. The price did make a new high and just missed my first target. I was stopped out at B/E.

We had a new high and a reasonable pullback and I went long to test the highs. I did get a partial, then out at B/E.

Another new high and a retest of the level. Then another new high and I went long. The price tried to go 3 times and I pulled the stop to B/E. Since the BO failed I switched to a failed breakout (short) which went just high enough to stop me out before the price dropping.

Everyone have a good long weekend.

Rob C

 

[Rob C 826]

Futures (ES) live trading journal 4/05/21 Monday.

It took 2.5 hours of intense watching before the ES gave it's first opportunity. The ES made another new high and a strong pull back. It gave a good entry but I couldn't get filled. The price moved higher and just touched the point of now return where it is too far to enter even if it pulls back. I did go long on the pull back and I wasn't breaking my rule since the price was just under 1 tick away from cancelling the setup. But 1 tick is close enough it felt like a chase. I did go long. I had to wait 35 minutes before we got some volume and the price reached my conservative target. The target I used may look too conservative. But I thought this may be my only opportunity today and I already waited 35 minutes (that is long for me since I have been trading ORBs for 2 years). Plus I increased my risk in April so nerves are a bit higher now. At the 1st target I sold 2 contracts and held the last contract for a stop at B/E.

I hope everyone had a good Monday.

Rob C

 

Edited April 6, 2021 by Rob C

[Rob C 826]

Futures (ES) live trading journal 4/06/21 Tuesday.

Really happy I got a trade in today. I have a busy morning so I thought I wouldn't catch a setup.

There was downward momentum over night creating a range. After the open the price broke the range and pulled back to test the backside of the level. Then price advanced to a new high and again pulled back to the midband. This is the best Break Out setup one can have. So I went long and as usual for BO trades I exited on the first sign of weakness. Yea I missed the run, but that is OK. I usually don't do well on BO trades. I need to be conservative.

I hope everyone has a solid day trading. 

Rob C

 

[Rob C 826]

Futures (ES) live trading journal 4/07/21 Wednesday.

Some momentum down in the PM, but turned sharply upward just before the open. Within 7 minutes of the open I called momentum upward and started to trade in that direction. We had a pullback and I tried to go long but no trade entry was given. The the price tested the highs 3  times and I shorted off the new low and was immediately stopped out. 

Momentum switched to the downside and a strong pullback where I was looking to go short but again no entry. Then the price dropped fast and pulled back for a failed break out setup. I went long and the price did reach my 1st target. With so little volume today I thought it wise to call it a a day while I am still green.

I hope everyone had a good day.

Rob C

 

[Rob C 826]

Futures (ES) live trading journal 4/08/21 Thursday.

There was first upward momentum in the PM then it dropped before the open and continued downward after the open and broke through the bottom of the range. Pulled back to test the level and then back down to make a new low. These are the break out trades I like the most. So I went short on the second pullback and got immediately stopped out.

Later in the morning we started to get some upward momentum and a level was created (the third blue bar). We had a break out and I went long at the pullback. After a couple minutes we had a jump in price and when it lost its strength I exited.

See you tomorrow.

Rob C

 

 

 

[Rob C 826]

Futures (ES) live trading journal 4/09/21 Friday.

There was downward momentum in the PM. But that changed right before the open and after 10 minutes I would call the momentum up. There was a pullback after the new high which gave an entry to test the high. I went long (TT) and immediately got run over. There was a deeper pullback and I tried a second test of the highs. So I went long (2TC). After waiting about 30 minutes and the price missing by a tick to stopping me out twice., the price finally reached my 1st target where I sold 1 contract. I held the other contract but pulled my stop up either too early or too far and was stopped by a tick and missed a few more points.

Have a good weekend.

Rob C

 

[Rob C 826]

Futures (ES) live trading journal 4/12/21 Monday.

I was glad to see a setup so quickly after the open. Since the middle of the night the ES was grinding higher creating a new high right before the open. The price pulled back and gave an entry right after the open. The reward to risk wasn't actually large enough to take the trade.  But I usually see strength with testing the high at the open so I went long and the price reached my conservative target in a couple of minutes. I held onto to 1 contract incase the price ran. It didn't and I exited.

I hope everyone has a good Monday trading.

Rob C

 

[Rob C 826]

Futures (ES) live trading journal 4/13/21 Tuesday.

I felt very lucky that the last two days I had a setup right after the open. We had plenty of upward momentum in the PM then went flatline at the open. After 15 minutes we got our deeper pullback and an entry. I had a very conservative target for my first contract. I held another contract to see if the price would run. It didn't and I exited soon after.

Have a good night.

Rob C

 

[Rob C 826]

Futures (ES) live trading journal 4/14/21 Wednesday.

Feeling really lucky now that 3 days in a row there was a setup near the open. I was able to take the trade before I had to leave the screen.

There was some moderate momentum down in PM but that quickly changed after the open. With in 30 minutes I was calling it momentum up. Then the price made a sharp pull back and I entered long. I immediately set my limit order for a conservative  target. The price went up and touched it but did not fill. I moved my stop to B/E and the price dropped and almost stopped me out by a tick. Then went back up and touched my limit order several times without filling it. It was getting a bit stressful and I was just about to drop my order by 1 tick when it finally filled. The limit order sat for 10 minutes so I assume I rose high enough on the list to finally get filled. I left 1 contract in case the price ran. It didn't and I exited at B/E.

I hope everyone has a solid day trading.

Rob C

[Rob C 826]

Futures (ES) live trading journal 4/15/21 Thursday.

Now 4 days in a row with a setup early in the day. This one was actually in PM. We had good upward momentum in PM and a pull back. The entry occurred before the open, so by rule I only took 1 contract. The price immediately dropped on me and I missed a stop out by a tick. Then the price moved steadily higher to reach my conservative target.

I hope everyone is having a good day trading.

Rob C

 

 

[Rob C 826]

Futures (ES) live trading journal 4/16/21 Friday.

What luck to have a setup right after the open everyday this week. Though I was stopped out on the opening setup, I was still green for the day.

We had strong upward momentum in the PM and a pull back at the open. I went long to test the highs (TT) with 3 contracts and was stopped out. Then there was a really large pullback. So large I would usually call momentum down. But the price had a resounding rejection of the PDC. So I still called it momentum up. So when there was the opportunity to go long I did with 2 contracts. Sold 1 contract at a conservative target and the other when the price slowed down.

I may not be trading next week. I have an online seminar with the Day Trading Academy all week. Unsure if the instructor wants us to trade or not.

Have a good weekend.

Rob C

[Bailey Nevener 83]

Hope all is well with your trading academy Rob!

[Rob C 826]

3 minutes ago, Bailey Nevener said:

Hope all is well with your trading academy Rob!

All is reasonably well. Late April I took a week long seminar with advanced trading concepts. So I stopped trading live to practice them. They did not work for me and I am still not profitable in SIM/replay mode yet so I haven't traded live since. Also, last year May through August I was not profitable in Futures and stayed in SIM mode for the whole summer. So it may be the same circumstance this year as well. That is why I was thinking not to stress myself out trying to trade seriously this summer and learn algo while I wait for September.

[Bailey Nevener 83]

19 hours ago, Rob C said:

All is reasonably well. Late April I took a week long seminar with advanced trading concepts. So I stopped trading live to practice them. They did not work for me and I am still not profitable in SIM/replay mode yet so I haven't traded live since. Also, last year May through August I was not profitable in Futures and stayed in SIM mode for the whole summer. So it may be the same circumstance this year as well. That is why I was thinking not to stress myself out trying to trade seriously this summer and learn algo while I wait for September.

Oh wow I've never been in an advanced trading seminar.  That sounds legit.  Well hopefully your efforts toward algo trading will bear some consistency for your trading.  What are your main strategies for trading right now?

[Rob C 826]

8 hours ago, Bailey Nevener said:

Oh wow I've never been in an advanced trading seminar.  That sounds legit.  Well hopefully your efforts toward algo trading will bear some consistency for your trading.  What are your main strategies for trading right now?

For day trading I have a 11 Equities setups and 7 Futures setups. Double that number if you consider long/short as a different setup. I only trade the setup if it proves a profit factor >2.0 for 20 SIM trades. Once the last 20 live trades drops below a profit factor <1.3 I stop trading it live. Earlier this year I had 9 setups that were >2.0. As the summer neared the number kept dropping. I only have one trade with a high enough profit factor to trade live. So I was thinking why bother. Last summer wasn't profitable for me either. So I thought I would trade playback SIM this summer and learn algo trading while I wait for things to pick up.