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Rob C

Rob C's Trading Journal - starting Feb 1 2019

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11 minutes ago, Bailey Nevener said:

How are you tracking your stats to know if they are statistically profitable?

Chartlog for Equities. My own Excel sheet for Futures.

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Futures (ES) live trading journal 7/01/21 Thursday.

Hi everyone, its been awhile since I posted. I have been studying and trading SIM with some advanced setups I have learned and I have not been profitable in SIM and thus no live trades to post. Also, I did so poorly last summer that I would not mind just practicing and not trading live the whole summer.

But today I was trading in SIM and liked the setup too much and took it live, so I am posting it.

The momentum was weak and just a slow grind upward. Then a strong drop in price with and even stronger bounce. The price will usually move well after a strong "V" but in what direction? I usually use Fibonacci in these cases. If the price bounced off the 50% or the 61.8% I will go short. But, instead it over shot past by 2 ticks and over the next few minutes created a hard top that seemed independent of the 61.8% Fibonacci. Two higher lows were created and when finally a HH. I waited for the pullback and went long. 

I had a conservative first target which was filled. Then I placed my stop 2 ticks below the recent low and placed my target order 1 tick below R4. I was just about to shut off my monitor, since this would be a long wait and I am not known for my patience. Then I saw a LH and two LLs. And yep I sold. It was about two hours later and it would have reached my target at R4.

I hope everyone had a good trading day.

Rob C

 

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4 hours ago, Bailey Nevener said:

Looking good!  I've never used Fibonacci for my trading, any consistency with it?

 

It works well as a directional indicator. I use it if it looks like a nice move will happen but you are unsure what direction. Like a breakout or a false break out, and ORB or a reversal, ABCD, etc. If it bounces right on the 50% or the 61.8% line it has a higher chance of being a reversal or ABCD pull back, etc. It gives me about an extra 10% edge. Which in this game is great.

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Futures (ES) live trading journal 7/06/21 Tuesday.

Though the plan is to sit on my hands this summer and learn and practice, but when I see really compelling trade I am starting to take them.

The setup today was a simple one. There was significant momentum this afternoon with a beautiful pull back. When the price started to move upward again I went long. I set my limit order at 3 ticks below the high which was filled about 10 minutes later. I held onto one contract but when the price stalled I sold.

I hope everyone had a good day.

Rob C

 

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Futures (ES) live trading journal 7/07/21 Wednesday.

Nice momentum today, then it looked like it stalled out. We had 3 LHs and 3 LLs. Then the FYL crossed the MB (yellow line crossed the white line) which indicated momentum down and the BBs (plot at the bottom) were well below the redline also indicating momentum down. I shorted at the MB and set my 1st target conservative since this could easily be a pullback instead of a reversal. I got my 2 contracts covered and I set my 1 remaining contract stop 2 ticks beyond my BE. Setting your stop at BE doesn't seem to work well with Futures. I was stopped out about 15min later.

Rob C

 

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Futures (ES) live trading journal 7/22/21 Thursday.

As I mention previously I am no longer trading live Futures. I am just trading SIM while I am learning more advanced methods and getting use to the change s in the market. But every once in awhile the trade looks too good not to take it live, which is what happen today.

Midday we were getting strong downward momentum. We just made a lower low and then a strong pullback into the "pull back zone" which is the dotted line. The price then held for 7 bars, showing strong resistance. And it was almost an exact 50% pull back. So I shorted and was stopped almost immediately.

 

Then I did take a successful long trade and here is why:

1) When there is a good setup in one direction that quickly gets stopped out it tends to go in the other direction.

2) The price hit the outer band (red line) showing strength.

3) The price pulled back to the mid band -white line - giving a good entry.

4) The FYL crossed the MB (yellow crossed the white) both are indicators from the Day Trading Academy that I use. That is a bullish sign.

5) The momentum was still strong at the entry shown in the chart at the bottom where the current black dot was still above the green line at the entry.

The trade went immediately in my favor where I sold at the outer band and at the first pullback. Yea, I should have held longer but I was well in the green at that point and not use to trading live anymore.

I hope everyone did well today.

Rob C

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