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Ok I have reset my combine and will start again tomorrow.
My major focus on this combine will be on taking the most optimum setups. I hope to eliminate impulse trades. Also I have been working on pullback trades, and hope to greatly improve on these trades also.
Quick Summary: Down $214.72. Felt like I traded my plan. Would have been nice to have Green P & L, but so be it.
Took no trades til after the Oil Report. At 9:50 Market pulled back to Blue line (CWAP) and I took pullback trade. Short 2 lot at 48.32. This was a good trade, executed properly, but didn't work. Took loss of -5 ticks.
At about 9:57, I had redrawn my profile and realized the profile for the whole swing had the VWAP at 48.41. I went short at 48.38. Was solid trade and in line with my plan, but it failed, lost -5 ticks.
Another trade setup but I would have had to have 14 tick stop, which is too large. So no further trades.
Would have liked to finish Green on the first day of course, but still feel like I traded well.
Quick Summary: Finished up $185.28. Didn't feel like I saw the market well today and also had issues with charts. I took 2 solid trades according to my plan though, so glad to finish GREEN
Premarket Analysis: Felt very slow and tired, market in DT so want to look for shorts.
8:00 Market opens and I miss the opening move, my volume profiles on my chart are not updating properly...Can't seem to get my head right. I take no trades the first half hour.
8:30 Should have been looking for shorts and I STILL get no trades off! Watch for a while. Finally get a pullback setup and get short 48.76 at around 8:49. The market finally moves in my favor and I start to trail. I was thinking of taking profit on first contract around 20 ticks but market bounces quickly off of low and takes me out for +4 ticks. No further trades in this segment.
Finally at 10:16 I get a nice pullback to the CWAP and I go short 48.75. The market starts to move, but I have to leave for work! I trail stop very tight and get out for +6 ticks. Not very impressive day, but almost back to neutral on the combine. I sure don't want to dig myself a hole to start out.
I took a couple of good trades and so I will be content. The market felt weird to me...maybe partly because of rollover.
Quick Summary: Up $50.56. Hmm kind of a tough day. Very slow and choppy. Glad to eke out a small profit.
Premarket Analysis: Market very quiet and choppy. Really no bias off the open. May be a BO to the top side.
8:00 Market makes small BO and I try to get long at 49.65. I lose confidence in it and cancel the order. The market breaks through my entry and I think we are getting a failed BO and get short at 49.53. The market quickly loses energy and I stop out for -6 ticks. I feel good about this trade...Market traded back through the VWAP and I thought it was a reversal.
In hindsight I don't feel as good about the trade. The market just had no energy, and if it was a failed BO, it should have ran to the down side. However; I did not break any rules. The trade was just a loser.
Trade 2: We finally get a BO and I get long at 49.68. The trade is immediately in trouble. Not a good sign. I hold on through a small pullback...think it was about 4 ticks. The market makes another new high, and then fails. I want to do further study on my management of this trade. I think stop should have been below the VPOC. The wall of volume should (?!) have kept the market from rolling back further. After it is breached, I think I need to be getting short. In this case, I don't think it would have paid much but I need to have a better idea and plan for this.
No further trades in this half hour, and no real feel for what I need to do going into the equity open.
Trade 3: I get short at 49.55 on a nice PB after a swing down. This trade works out well, but just was very slow!!. Finally exit with 17 ticks. I took the first one off at 17 ticks and was trying to hold on for a move below settlement at 49.24, but get shaken out before it gets there. I am happy with this trade, my management, and process.
Trade 4: Market pulls back into 49.34, it is late and I have to go to work soon. Market makes a little break up to 49.39 and fails, so I take a shot at 49.34 short. Trade starts to move, but I have to leave. I end up being taken out for BE.
Premarket analysis: Have DT on all TF including daily, will take size up to 3 lot for today. (I know...Weep or laugh). Looking for shorts off the open.
8:00 Market makes a 1 tick low right at the open, and then immediately heads north. Thankfully I don't short it...then!! LOL. It gets back to the VWAP though and pauses, starts to show some momentum lower, and I short at 48.56. Very rapidly ran over for -6 ticks.
8:07 Trade 2: Market PBs to long term MA, and I go short at 48.66. I like this trade a lot and usually have success with it....but not today! Stopped for -5 ticks. Felt both of these trades were good and according to plan they just didn't work. After this, I drop down to 2 lot.
8:51 Trade 3: Market breaks the VWAP, nice selling transition, and some momentum...I am short at 48.71. I survived a while on this one, but it too eventually failed for -9 ticks. Felt I made good trades that were according to my plan and followed my process, just very tough to lose 3 in a row.
I have included some other pics of the jigsaw DOM and some comments. They are more for me as I start adding Jigsaw to my trading plan. If anyone has feedback, feel free to comment.
Quick Summary: Up $105.84. I am disappointed in my performance. I was down pretty big, but had the opportunity to make it a big GREEN day and failed in that aspect. I am glad to eke out a profit, but need to do a lot better!!!
Premarket Analysis: No real bias Volume pretty low at around 127K. We are in kind of a short term DT.
Trade 1: I get short at 49.04. Nice PB into my MAs. However, buyers are really strong on the OF chart. I try to get out at -2 ticks, no fill. Finally close trade at -5 ticks. Technically should not have hit my stop, if it had been behind VWAP. Feel this was a good trade, but not managed well. If I am going to use the OF, I need to just bail, no messing
around!
Trade 2: Suddenly we get a shift, and buyers go away, I am short 49.06. Had a chance to get my first scale at +15 ticks, but I really think if we break 48.87, this thing is going to fall hard!! I hold on, but trail stop is finally hit at +4 ticks. At this point I am not in bad shape, down about $20 plus comish.
Trade 3: We come into 9:00 market breaks down and takes out low, I am short the BO at 48.85. This is good trade except....I don't take the stop when the BO fails. I hold on and pull my stop back. Finally I add another contract at 48.95, which is too low!! If I am going to add, I should have done so at 49.00. Nonetheless, huge spike of volume comes into the market and I get blown out for HUGE loss...T4 is kinda weird in tracking addons, but shows -15,-17, and -7. I end up down about $410 for the day. I realize I am dangerously close to blowing out the combine. Feel pretty bad at this point.
Trade 4: Market rushes into long term MA resistance. Huge Vol on the 1 min, over 10K contracts. I HAVE to short this, it is an important trade from my plan. So I get short at 49.10, after the volatility slows down. Once again, I miss a +15 scale out! arrrgh. End up with only +5 ticks on the trade. But glad to make something.
Trade 5: I suddenly realize that I am missing another trade, market has pulled back to CWAP. At this point I just think, I HAVE TO TRADE MY PROCESS!!!! so I go short again. Short at 49.05. Very solid trade from my plan. Thankfully, this one works. I FINALLY get a scale off at +17, I am holding on still expecting a break and huge move lower. I place BO sell stop at 48.84. This is triggered. I miss ANOTHER +15 scale out, but I do make money on the trade.
In summary, I missed a HUGE opportunity today. Tuesday is one of my best trading days and I just didn't get the job done. I'll take another shot at it tomorrow.
Hey Ddawg! Just a quick questions since I am kind of new to futures in general but are you trading CL expiring 04-17? Because I think something is going on with mine...? I dont see any volume or any trades in general?
As for TST I wish you the best of luck! I cant afford another losing day so if I lose here I will be resetting as well
EDIT: I figured out I didnt rollover to 05... Everything is good now