NexusFi: Find Your Edge


Home Menu

 





TradeTheBar Daily Journal


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one kareem40 with 228 posts (423 thanks)
    2. looks_two NW Trader with 20 posts (50 thanks)
    3. looks_3 AllSeeker with 5 posts (2 thanks)
    4. looks_4 bobwest with 5 posts (10 thanks)
      Best Posters
    1. looks_one NW Trader with 2.5 thanks per post
    2. looks_two bobwest with 2 thanks per post
    3. looks_3 snax with 2 thanks per post
    4. looks_4 kareem40 with 1.9 thanks per post
    1. trending_up 35,404 views
    2. thumb_up 518 thanks given
    3. group 18 followers
    1. forum 275 posts
    2. attach_file 269 attachments




 
Search this Thread

TradeTheBar Daily Journal

(login for full post details)
  #31 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903

Here are my daily trades for the day.
First was the usual spread around the open. They tend to work best around the daily open and close. And at times during major planed news events.


Here is right after the trade was opened. -.39% YM, -.13% NQ.


And the close. It was around +$50, but I could not close it quickly due to clicking error. I ended up with +$35 for the close.


Two MES trades at different lot size today. Both were winners and did not take much heat. They were both PA/VSA set ups. I took profit way too fast on my second trade. I should have stayed with the original target set which would given me daily goal. I decided to cut size and trade MES instead of ES since I did not trade well yesterday.



A total of +$172 for the day. Good day, low draw, but still stressful.

K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
The following user says Thank You to kareem40 for this post:

Can you help answer these questions
from other members on NexusFi?
Futures Close-Out Policy
Commodities
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Request for MACD with option to use different MAs for fa …
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Just another trading journal: PA, Wyckoff & Trends
33 thanks
Daytrading ES & NQ
32 thanks
Spoo-nalysis ES e-mini futures S&P 500
28 thanks
Retail Trading As An Industry
24 thanks
Battlestations: Show us your trading desks!
24 thanks

(login for full post details)
  #32 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903

A quick update of my open CADCHF trade. This trade was based on EW of the hourly chart.
+24 PIPs for now:





K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
The following user says Thank You to kareem40 for this post:
(login for full post details)
  #33 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903


Only one trade. It was breaking news and for the CL. I don't trade CL much, but when major breaking news hits, it's a very low risk and quick trade. It made profit for the day, so I shut down the rest of my charts.



The NQ-YM Spread trade showed a great set up today, but it was too late and being a Friday, I passed. I may take it at Sunday's open.

Low stress and risk trading day with +$315 for the day.

K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to kareem40 for this post:
(login for full post details)
  #34 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903

I have a friend at a different forum that keeps telling me that I am wasting my money ( $250/month) on a premium/fast news service. And even without the news I could have taken the same set up in the same areas, based on PA/VSA ( chart below) Looking in hindsight, seems to make some sense. It's all built in the charts, right? What do you guys/gals think?



K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
The following 3 users say Thank You to kareem40 for this post:
(login for full post details)
  #35 (permalink)
 
snax's Avatar
 snax 
Chicago, IL
Legendary Price Action Student
 
Experience: Beginner
Platform: Sierra Chart
Broker: Edge Clear
Trading: MES
Posts: 2,165 since Feb 2019
Thanks Given: 9,603
Thanks Received: 9,600


kareem40 View Post
Only one trade. It was breaking news and for the CL. I don't trade CL much, but when major breaking news hits, it's a very low risk and quick trade. It made profit for the day, so I shut down the rest of my charts.



The NQ-YM Spread trade showed a great set up today, but it was too late and being a Friday, I passed. I may take it at Sunday's open.

Low stress and risk trading day with +$315 for the day.

K

Nice trading @kareem40! I am interested in spread trading too, its a bit further out on the horizon for me but it seems like a pretty smart strategy to add to one's repertoire. Cheers!

Visit my NexusFi Trade Journal Reply With Quote
The following user says Thank You to snax for this post:
(login for full post details)
  #36 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Posts: 8,147 since Jan 2013
Thanks Given: 57,181
Thanks Received: 26,215


kareem40 View Post
I have a friend at a different forum that keeps telling me that I am wasting my money ( $250/month) on a premium/fast news service. And even without the news I could have taken the same set up in the same areas, based on PA/VSA ( chart below) Looking in hindsight, seems to make some sense. It's all built in the charts, right? What do you guys/gals think?

Whether to incorporate news into your trading is one of those continuing questions that don't ever seem to get settled. I'm sure you know the point of view that says that anything in the news always gets baked into the price ahead of time, or is at least reacted to sooner than you will by players that have better access and/or inside knowledge, and I think that is often right.

For news events that are scheduled, such as FOMC announcements or the crude oil report, it's important, obviously, to know when they will happen so you're not blindsided by the usual sudden volatility. Many traders just wait these out.

There is an argument that someone has inside or at least early info for some of these events, since price may start to move just a little early (a few minutes or seconds), but I'm not sure whether that is just people jumping the gun. In any case, very often the first market reactions after these events get quickly reversed, as the early jumpers and naive traders get their heads taken off. I think there are probably deep-pocket traders who simply fade the initial moves, although this strategy wouldn't always work, either.

I have no experience with a "premium/fast news service," mainly because I have always believed the point of view that you can't really trade the news, but then, maybe my believing it has just meant that I never looked into the question, and maybe I've just been left out. Always possible.

But for my money, aside from things that truly are not foreseeable, I don't think that responding to news events is a good strategy for the retail trader, and possibly not for the professional trader either. If you get one of the free news services that simply tell you what is scheduled in the way of announcements and anticipated events, so you know they are coming, you probably are getting the most out of an awareness of the news. I do think that, barring sudden events, most news items can be traded from the chart by itself. Sometimes the chart may tell you something about what the news will be, if you accept the idea that someone, somewhere is well-connected enough to have better info than the rest of the market, and will act on it early.

Remember that this is the opinion of someone who is not particularly well-connected, and so may not know what he is talking about. But then, your fast news service may not be that well-connected -- in terms of really useful, and early, information -- either.

Bob.

Reply With Quote
The following 3 users say Thank You to bobwest for this post:
(login for full post details)
  #37 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903


bobwest View Post
Whether to incorporate news into your trading is one of those continuing questions that don't ever seem to get settled. I'm sure you know the point of view that says that anything in the news always gets baked into the price ahead of time, or is at least reacted to sooner than you will by players that have better access and/or inside knowledge, and I think that is often right.

For news events that are scheduled, such as FOMC announcements or the crude oil report, it's important, obviously, to know when they will happen so you're not blindsided by the usual sudden volatility. Many traders just wait these out.

There is an argument that someone has inside or at least early info for some of these events, since price may start to move just a little early (a few minutes or seconds), but I'm not sure whether that is just people jumping the gun. In any case, very often the first market reactions after these events get quickly reversed, as the early jumpers and naive traders get their heads taken off. I think there are probably deep-pocket traders who simply fade the initial moves, although this strategy wouldn't always work, either.

I have no experience with a "premium/fast news service," mainly because I have always believed the point of view that you can't really trade the news, but then, maybe my believing it has just meant that I never looked into the question, and maybe I've just been left out. Always possible.

But for my money, aside from things that truly are not foreseeable, I don't think that responding to news events is a good strategy for the retail trader, and possibly not for the professional trader either. If you get one of the free news services that simply tell you what is scheduled in the way of announcements and anticipated events, so you know they are coming, you probably are getting the most out of an awareness of the news. I do think that, barring sudden events, most news items can be traded from the chart by itself. Sometimes the chart may tell you something about what the news will be, if you accept the idea that someone, somewhere is well-connected enough to have better info than the rest of the market, and will act on it early.

Remember that this is the opinion of someone who is not particularly well-connected, and so may not know what he is talking about. But then, your fast news service may not be that well-connected -- in terms of really useful, and early, information -- either.

Bob.

Interesting comments and thank you. My main reason to keep it has been results, which has been very consistent and profitable using it. But again my friend is telling that I am still trading price action, but doing it on the fly. But revisiting the chart below, the spot where I took the trade, could have been technically a double top that should be sold, or if it went a bit higher then its an upthrust ( some call it a flush) and would be shorted in the following lower bar. So technically it would been a missed trade or a big loss. But at the moment I am hearing live breaking news that hormuz strait could possibly be close and CL will go up by $50 in few days if confirmed. Its costly service since its fast ( still not the fastest), and not fake news. Also, I tend to take a relatively small part of the news trade. Please note I mostly trade breaking/unplanned news events. Planned ones such as employment report etc are for the pro and I agree not for any of us to trade.

One last note, I have found PA/VSA technical charts had always helped me with my exits, again such as in chart below.
Thanks and hope for more feed back.



K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to kareem40 for this post:
(login for full post details)
  #38 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903


snax View Post
Nice trading @kareem40! I am interested in spread trading too, its a bit further out on the horizon for me but it seems like a pretty smart strategy to add to one's repertoire. Cheers!

Thanks Snax,
Will add more information, but please note I still somewhat new to it and not fully sure. I have seen few traders in here that seem to have a much better understanding. I look forward to their feed back.

K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
The following user says Thank You to kareem40 for this post:
(login for full post details)
  #39 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903

I am trying a Forex Spread Trade. Here is the open of the trade:

Sell : USDCAD $500
Buy : GBPAUD $1565

I know this is very small, but since I am new to this I needed to be small and live as well.
More details on this later.



K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
(login for full post details)
  #40 (permalink)
 
kareem40's Avatar
 kareem40 
Dallas, TX
Legendary TradeTheBar
 
Experience: Intermediate
Platform: NT, TS
Broker: IB, Oanda
Trading: ES, MES, MNQ, MYM
Posts: 708 since May 2010
Thanks Given: 1,887
Thanks Received: 903


Here is the FX spread closed for plus about 18 PIPs.



Only +$2.8 but again, testing with live trading conditions. Oanda tends to have the same spread/fills with $100 to $100,000 lots.

K

Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote





Last Updated on June 6, 2023


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts