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cunparis journal, thoughts, and more

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  #501 (permalink)
 
cunparis's Avatar
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
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Big Mike View Post
I agree with you.
But I don't know many traders that aren't profitable on sim. Not ones that actually consider themselves a trader.

I haven't had time to check out all the journals, but do you know of other traders who are consistently profitable on either sim or real money? Ones who post their p/l & trades daily? I'd like to follow some of them.

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  #502 (permalink)
 
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 Big Mike 
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cunparis View Post
I haven't had time to check out all the journals, but do you know of other traders who are consistently profitable on either sim or real money? Ones who post their p/l & trades daily? I'd like to follow some of them.

I don't get out much So I really don't read other forums and don't read other blogs. There are a lot of traders out there to learn from, and really you can learn a lot regardless of whether or not they are profitable. Obviously if they are profitable it helps you to pay closer attention, but people that are losing their ass might have great advice and great methods, and simply a very poor handle on the psychology aspect.

I follow Dr. Brett, who unfortunately has recently decided to stop posting, I follow Gary CL Assassin but mainly because we are life-long friends and trading buddies, and I have a lot of respect for many traders here on futures.io (formerly BMT) who have taught me a lot. I don't place emphasis on whether or not they are profitable in deciding if I can learn from them.

Mike

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  #503 (permalink)
 
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 Dragon 
Bellingham, WA
 
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Yeah Gary's blog has been very interesting to me as well. I don't track anyone else's blog really. I think he has had maybe three or four losing days since he started tracking his performance there.

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  #504 (permalink)
 
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 cunparis 
Paris, France
 
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cunparis View Post
Great idea Mike, here we go:

1 - Avoid trading against a big move, especially in an imbalanced market

2 - Be more strict with entry criteria to take only the best setups and not to take those early.

I'm very proud to have only taken 3 trades today. 1 on FESX on sim, and 2 on ES first was real and second was sim. All winners.

Did I follow #1? Not exactly. But I got really good setups so I took them. they were pullbacks in a high timeframe but looked like countertrend on the 1500 tick chart. So I think it's ok for #1.

For #2 - I was very patient. Watched the market for 8 hours and took only 3 trades. I was slightly early on the two ES trades (you can see in the chart markers) but the setup was good and I scaled in.

In all of my trades price ended up going quite a bit further. That's great. Cause once I get consistent with 2 contracts on real money i'll add a 3rd and try to get some of those bigger moves.

The FESX trade was recorded live and the video is on my blog along with the charts.

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  #505 (permalink)
 
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 gabga100 
New York
 
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cunparis View Post
Wrote a blog entry on the Pace of [AUTOLINK]tape[/AUTOLINK] indicator. I made a short video showing how it was used in my last few trades this morning. I'm attaching the chart here.



Hey very cool video ..... I was wondering .... I find the POT very cool because of its simplicity ....

Do you think it would be useful to split it into pace of trades at Ask VS at Bid ......as you are trying to find the reversal from short term trend , if this one is let's say down, it might be useful to see the POT at Bid ......


This could be the perfect marriage between the POT and the Gom Ladder as the latter being extremely rich in info, requires too much focus to follow during an entire day ( information overflow;-)

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  #506 (permalink)
 
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 cunparis 
Paris, France
 
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gabga100 View Post
Hey very cool video ..... I was wondering .... I find the POT very cool because of its simplicity ....

Do you think it would be useful to split it into pace of trades at Ask VS at Bid ......as you are trying to find the reversal from short term trend , if this one is let's say down, it might be useful to see the POT at Bid ......

This could be the perfect marriage between the POT and the Gom Ladder as the latter being extremely rich in info, requires too much focus to follow during an entire day ( information overflow;-)

Thanks for your comment.

It's a good idea to have POT for bid & ask. I will see if I can do it. However I'm not sure it'll be useful. From what I see in the volume ladder, using short as an example - sellers will exhaust themselves and then you may or may not have aggressive buying. And sometimes price will stop moving down from a lack of sellers instead of exhaustion. And sometimes it stops moving down because of aggressive buyers. So there are multiple scenarios for the reversal. I'm not sure it matters about bid or ask but I must program it to find out!

For the ladder, I make it a point of looking at it ONLY when I have a setup on the "big picture". Once I enter I don't look at it again unless I want to scale in. In the past I have fallen into the trap of watching it and overtraded, getting into positions that had no chance for a big move. So now I avoid doing that. For me it's purely a timing technique. Others may use it for exits too.

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  #507 (permalink)
 
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 gabga100 
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Thank you !!, it might or might not be informative ..... I guess that before trying adn seeing it is difficult to know upfront.....

One graphical way of doing that is to keep the same display, but split the POT bar in two ( RED and GREEN) and when the preset limit is breached say orange and purple...

Hope it will not take too much time ....

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You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.
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  #508 (permalink)
 
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 cunparis 
Paris, France
 
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I'm going to try to do pre-market analysis for ES and tell the market profile levels I'm watching, explain the cycles and the trade setups I'm looking for. If there is enough interest I'll try to do it every day a few hours before the open. So let me know if you like it. If you're interested I suggest subscribing on the blog since you'll wait to see it before the open.

I also review yesterday's ES trades.

ES Premarket Analysis & Yesterday’s Trades Trade With The Flow

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  #509 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
Posts: 1,091 since May 2010

Cunparis, I noticed you changed your fav instruments to includes ES. I thought you were a big 6E fan. I'm just experimenting with ZN and GC right now. What do you like about ES. Is it the huge volume for the market delta you are focusing on, ideal trading hours, the cycles it follows, I think I may be answering this question?

Well, I need to add an instrument or two to my desk so trying to get some ideas why people like the instruments they trade. Ideally I'm looking for the perfect something I can put beside 6E as a nice counter. I find nothing worse for inducing mistakes than watching a sideways chop with two hands on the wheel and wanting to trade...

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  #510 (permalink)
 
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 cunparis 
Paris, France
 
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syxforex View Post
Cunparis, I noticed you changed your fav instruments to includes ES. I thought you were a big 6E fan. I'm just experimenting with ZN and GC right now. What do you like about ES. Is it the huge volume for the market delta you are focusing on, ideal trading hours, the cycles it follows, I think I may be answering this question?

Well, I need to add an instrument or two to my desk so trying to get some ideas why people like the instruments they trade. Ideally I'm looking for the perfect something I can put beside 6E as a nice counter. I find nothing worse for inducing mistakes than watching a sideways chop with two hands on the wheel and wanting to trade...

Good question. I changed to ES because I have the most experience trading it, and my tools work better with higher liquidity instruments. My goal is just a couple points per day and then when consistent build up size. Also FESX is very similar to ES so it's easy for me to trade FESX in the morning and ES in the afternoon. And ES I can use breadth data such as TICK, TRIN, etc. I feel those give me an extra edge.

6E is an excellent market and if I added a second it would be Euro. Euro is more volatile than ES but less than CL. Has great moves. And I could trade it morning & afternoon. One instrument. But first I want to master ES and if I master ES then I probably won't need Euro.

As for adding an instrument. In the past i've traded multiple instruments and in the end I find it's better to trade one. Just one good trade per day is enough so trading two is a distraction to me. If you're successful on 6E why not just increase size? If you're not successful then adding a second probably won't improve things.

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Last Updated on December 3, 2010


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