Apr 122012
 

I had one of my best weeks up until RTH today and then I blew it.  The comments are in the annotations.  It’s ironic because I have to pack and have lots of little things to do and I almost didn’t trade RTH.  I wish I hadn’t.

 

I made several mistakes today and paid the price.  I’ll have a 20+ hour travel day tomorrow to study my mistakes, rewrite my trading plan and begin anew.  I’ll be offline without internet for 1 week starting tomorrow and if I can get up that early (6am!) will be trading the first couple hours of the US RTH session starting April 23.    10 days off will do me some good.  I realize my mistakes and I will come up with a plan to eliminate them and I’ll be back better than ever.

 

 

Apr 112012
 

Today we had some nice signal clusters that provided good opportunities.  The first was marked “1” in Globex, that was my best trade.  I took 3 pts and was surprised to see it drop down much further and even more surprised to see it bounce right back up.  That was a clue.  I tried a couple more, scratching them and the market went up.

In RTH my plan was to short around 71.  I made a mistake and didn’t wait for that and entered with bad trade location.  When it got to 69 I added but when it stalled at 68 which was my avg cost I bailed.  I should have given it more time but I was not in a good position so I don’t mind getting out and learning the lesson – be patient and wait for good levels.

ES went down to the support level but by then everyone had lost interest and we didn’t get much of a bounce.  Overall a very slow lazy day of rest after the sprint yesterday.

One subscriber had a great short off the cluster of short signals at 69 and made enough to pay for over 2 months of membership just on one trade.  He did better than I did on that one and I think that’s fantastic.  With a common set of tools, we can learn from each other much easier.  And that’s the goal.  Facilitate collaboration with common tools & methods.  I’ll be writing more on this later.

Tomorrow is my last day before vacation.  I’ll take a week off and then trade the first 2 hours with the west coast gang.  I’ll be up at 6am anyway due to jetlag!

 

 

 

Apr 102012
 

Today I released the newest version of my signals (V2b) along with a Ninjatrader indicator to plot them real time.  V2b is designed to give more signals and the real time indicator allows the user to filter them based on the strength.  The indicator also color codes them, shows a histogram of the strength, and has audio alerts.  Everything worked well today.

Historically I do not do well on trend days.  I hate to buy the highs and sell the lows.  So I’m quite pleased that I ended up with 3 pts (2 of which were in Globex), which is not bad for trading 1 lot.  I have been very patient and waiting until everything lines up to take a trade.  I feel I need to be a little more aggressive and I will with time.

The short at 78 was good except for one major detail:  We had an OTD open type and I don’t fade open drives.  So I missed the short.  After that, I was looking for a pullback to 74.50.  The market stopped at 73.50 which was OSL.  It made a double top.  I should have entered 1 contract there and took 2 pts risk but I didn’t, much to my regret.  As I said, I’ve been very patient.. a little too patient.

After that it was obvious the trend was down.  The buy signals weren’t working, sell signals were capping the pullbacks, the S&P A/D line was below -300, and my overall bias was slightly bearish.  So that meant longs were not possible until we saw some bottoming behavior which I did see just short of the open gap at 51.75.  I took a long but time was running out and I didn’t want to hold into cash close so I exited with 1 pt.  I shouldn’t do that, I know, but I was a bit nervous.  I could have gotten 3 pts on that one but it never would have hit my target which was 4 pts.

So I escaped a trend day unscathed but I do wish I had been more aggressive and shorted the bounces.

 

The real time Ninja indicator is available for subscribers (more info here).  Initial feedback is positive.  For a week and a half of our upcoming vacation we’ll be visiting family in Arizona.  So if I can get myself up early, I’ll be able to trade the first couple hours.  I plan to trade using just eminiplayer zones and signals and use it as an experiment on trading with a minimalist approach.  I’ll probably have the A/D line in the background but I’ll be focused on taking the signals at the zones and not letting my intuition talk me out of trades.  I’ve found the more things you have on your screen, the more reasons you can find to avoid or get out of a winning trade.