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27/Oct/2023 $332.00usd profit started trading 8.051 ended 12.28 est. Today i took a big risk, but thanks to the market reversal and the grid i was able to end another profitable day. Very interesting how the price ranged above relevant price that aligned with full session POC. I think the best way to trade is to always consider relevant prices, of course what do we trade? price, so price is the most important thing.
Scheduled news but price moved in a range and i did not enabled the grid immediately until see some signs of direction.
Then the price started moving in the up direction with momentum, no volume divergences and filter starting developing up so i enabled the up grid direction.
Made some profit, price returned ranging around relevant price level that was coincident with POC of full session so i think all day will be in a range. Holding the grid and looking for some good oportunitie to pause with BE or profit.
After some profit i paused the grid, the price was a puse (moved very slow) so i always see this like suspicious ....
The market moved up then i saw momentum started developing in the down direction and took the counter direction movement so i enabled the down grid direction (even against trend filter because the price action at the overnight high).
Price went down for some bars then resumed the up direction with volume divergence then resumed the down direction and i decided to hold the grid.
Made some profit in a fast down movement but it was a trap! suddenly the price taked a strong up direction. I realized that late and decided to continue holding the down grid direction to BE or exit with some profit even against the market, momentum and trend filter.
Price reversed in the down direction and was able to recover some float loss with profit and paused the grid.
Then price started compressing so it's possible to follow a big move.
A new fast down movement with filter and momentum going down so i enabled the down grid direction.
Another trap of the market because again it resumed the up direction in a very strong movement and i still holding the float loss to see how performs the grid algorithm on a possible retracement of the market (This is the biggest risk to take, fight the market). But this is the sense of the grid.
Recovered some float loss and still holding.
Paused the exit to collect more profit.
and stopped trading for today.
All have a great weekend!
Can you help answer these questions from other members on NexusFi?
We appreciate your willingness to share an indicator with the rest of the NexusFi community, and StepMA can be a useful one. It's been around in one form or another for a long time, and I was surprised to find that we didn't already have one for NT 8 (there is a very old one for NT 6.5.) So thanks for that.
However, I checked the file you uploaded, and it contains a .dll file, CTTStepMANexusFi.dll. We cannot have dll files uploaded to the forum, for the reason stated in the Terms and Conditions:
"As a general policy, we make a best-effort to not allow DLL files. Never upload a DLL file. This is because a .dll file is an executable file that does not contain source code (the human-readable program) that can be examined to determine what it does. Instead, it is in a compiled form that contains only computer-readable instructions that are directly executed by the computer, without the possibility of human review. It therefore represents a potential risk and we cannot allow these types of files (files of either type ".dll" or ".exe") to be posted on the site. If you encounter a DLL file on the site, please Report it to the moderators."
( https://nexusfi.com/disclaimer/ )
Also, your description of the indicator in the Downloads references a new folder called "CreativeTradingTools" that will contain the code, and the name of CTTStepMA suggests that the original code may have been produced by a company of that name and that it may be someone else's copyrighted work. We do not permit copyrighted materials to be uploaded to the site either, due to our anti-piracy policy.
So if you have the original source code to the version of StepMA you uploaded, and if you can state that it is either open-source, public domain code, or your own code produced by you, then we would be happy to have the source code version uploaded.
Otherwise, we will have to delete the entry from the Downloads.
I have deleted your post above with the link, hopefully temporarily, and it can be reinstated if you can supply the non-dll version.
I'll leave the dll version in the Downloads for now, until you can get back to me one way or the other.
Thanks.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Hi Bob, pls help me to remove the file in the downloads section too pls, for a strange reason i cant use the delete button so i will apreciate the help to remove the file too.
It won't let me delete it either. This must be an unintended consequence of the the site changes.
I'll refer it to Mike to look at and fix. In the meantime, I have marked it as hidden, so it's taken care of for now. We'll take it from here, once it's all working again.
Thanks for taking care of this.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
30/Oct/2023 $621.00usd profit started trading 9.00 ended 10.30. A textbook trading day, no scheduled news and price action reacted to relevant price leves / momentum / filter in alignment.
Overnight price was going up in steps and slowly so i did not enabled the grid until confirm the speed and price action.
When the price started a strong up movement with momentum, filter and no divergences and relevant price fail break (failed to continue as resistance at the break) so i enabled the up grid direction.
Made some profit and price made a retracement with momentum started going down, could be only a retrace in price to continue up so i will hold the up grid direction until see signs of reverse in price.
Price started compressing, momentum down, price made a higher low volume divergence at >200% so this could be the up price direction is exhausted so i disabled the grid and wait.
Momentum went down, price started going down, and i enabled the down grid direction.
The price moved strong in the grid direction so i paused the exit to collect more profit.
Almost close to relevant price level i saw a small pause in the price movement (slow the speed) with momentum at extreme so i decided to enable the exit to bank the floating profit.
Then i saw the price did not move for some minutes and i decided to stop trading for today.
31/Oct/2023 $465.50usd profit started trading 9.03 eneded 10.20. But this full session i enabled the grid over night.
At my development time (over night) i saw the price started moving and saw the opportunity to enable the grid take some profit and disable it.
After the open waited to see the price action and later i enabled again the down direction grid.
On a small price retrace after the down movement and some bricks close to relevant price level paused the grid. Just a few minutes before the Chicago PMI data release
The Market compressed and moved in a small range (sideways/choppy) with POC relevant price level confirmed as resistance, breaking the low of the rang, momentum started developing down and down grid level enabled.
Price continued in sideways so at the first opportunity i closed the grid in profit.
Now price breaking the POC relevant price level and braking the top of the sideways, momentum developing up , price breaking the filter and going up then up grid direction enabled.
After get the profit i disabled the grid and stopped trading this manual grid tool.
1/Nov/2023 $134.00usd in profit started trading 8.30 ended 12.20 est. High impact scheduled news and Fed's speech day. Not an easy day.
Market was in a range but as we have scheduled news i did not taked any direction decision. Will wait a few minutes after the news release.
After news we had a compressed price with a constant up filter but started making divergences the price vs momentum and when i saw a down volume divergence and momentum started building up i enabled the up grid direction.
Price reversed and was time to see the best opportunity to exit BE or with small profit.
On a retrace to up direction i was able to exit BE.
Then the price made a pullback and with last swing low volume extremly high 711% and momentum down (crossing to the up side but at extreme) so i taked the decision to enable the down grid direction.
Was a trap, the market started making a new higher high of the day and i knew this was very dangerous, so i paused the exit to collect more profit and be able to exit the grid BE for second time in the day.
After holding a loss of 1.2k the price returned to the down direction and i was able to exit with a small profit.
Holding the down gird direction but the market made a pause and stopped moved and i was looking to make some more profit and then exit the grid.
Price went compressed in a small range and was able to make a few more dollars so i stopped the grid trading for today.
Trading on high impact news or at Fed's important speech's is very dangerous for daily trading. The price action at relevant price levels mostly of trading time is random, with big/volatile/strong movements and that makes it hard to trade. Notice how the POC was respected, and how it is moving up as the price continues going up, this is the expected behavior.
Now the question, why to hold a loss of 1.2k today? well, there is a reason, i know is a BIG risk to hold a loss and fight the market (not do it are trader golden rules) and here comes the daily and M15 minutes charts where i see price levels, volume profile and after time i get stats from the daily ranges, and as we was at the top of the bar in daily range with a previous broken support level at weekly VP lower volume node i decided to hold the lose because there was a chance to get a price reverse and be able to recover. And it worked. May be is a risk no one must take included myself...
2/Nov/2023 $228.00usd profit started trading 9.07 ended 10.51 est. Easy trading day, just enabled the grid and let it do the job.
No scheduled news for today, overnight swing high. Price crossed previous days relevant price, momentum slowing so i must wait for signs of price action at price or momentum with filter and no divergences to enable the grid.
Momentum went to extreme, started building up, price made a good down retracement so i decided to enable the up grid direction at the break of the relevant price level. Price was ranging around it but i followed momentum on this decision.
Price went up / down without strong movements, after a volume divergence in the HL the price made a nice swing in the up direction and after collect some profit i disabled the grid and stopped trading this grid manual system.
3/Nov/2023 $201.00usd profit started trading 8.33 ended 10.43 est. High market impact scheduled news so this was a complicated trading day. Holded a loss of 1.6k to make only .2k, must think seriously about it.... the profit is not enough for the risk.
Started watching the market to see the price action and price movement at news data release. Then at NFP the price movement was extremely fast sideways in a very small range and then went up. So i just continued watching the price.
Then price made a double top close to previous day relevant price, down with momentum flow and compounded momentum started building down and price crossing the filter so i decided to enable the down grid direction.
Price resumed the up direction, strong, and i reversed the grid to up direction
Price respected the resistance level at previous days relevant price and momentum started to change to down direction so i closed the grid with a loss.
Price went down and enabled the down grid direction one more time.
And again, this is why is hard to trade at news affecting the market, the price resumed the up direction in a very strong move, but as i saw the price ranging up/down i decided to hold, then the price started making higher high with higher lows and holded the grid down direction with a big float loss (1.6k), then after the last scheduled data release the price went a few bars up and reversed to down direction, as i had the exit in pause i was able to exit recovering from the float loss and with some small profit.
I still had the down grid direction enabled to made a few more dollars.
And decided to stop the grid trading for today, as its my wife´s birthday now i must cook, clean and make home duties lol.
This is @Oracle from NexusFi here to assist in your trading journey. Thank you for sharing your trading diary.
Starting with your strengths, your consistent use of price action analysis and attention to relevant price levels indicates a well-structured approach to market interpretation. Your steady use of stop loss adjustments to safeguard profits and mitigate losses signifies good risk management. Furthermore, your patience in observing market conditions before initiating a trade and your strategic decision to avoid trading immediately before high impact news releases are commendable traits.
However, there are some areas for improvement. You tend to misread the market and end up holding onto losses, a practice that can seriously impact your profit margin. It's important to remember the adage "cut your losses short".
Also, personal obligations seem to be impacting your trading hours. Although it's absolutely necessary to maintain a balance, it's essential that when you're trading, your focus remains undivided.
Moreover, your apparent willingness to take on high risks for low profits (as seen in Post #892517) may be something worth reevaluating. It's important to have a clear understanding of your risk-to-reward ratio before initiating a trade.
An improvement area is to maintain discipline in adhering to your rules even under unpredictable market conditions.
Remember, trading is a marathon, not a sprint. Continue maintaining your trading journal as it aids in self-accountability and enables you to learn from past trades.
To strengthen your trading, consider:
1. Enhancing market direction skills through further study or mentorship programs. The goal should be to reduce instances of finding yourself on the wrong side of the market.
2. Set specific trading hours to ensure personal obligations do not impede your trading activity.
3. Continually assess your risk-to-reward ratio and adapt if necessary to ensure it aligns with your trading goals.
I look forward to hearing from you soon and reviewing your future posts.
Keep learning. Keep growing.
Trade Metrics:
- Total Profit: $3586.50
- Average Profit Per Trade: $398.50
- Times Mentioned Misreading Market/Wrong Side of Market: 4
- Times Mentioned Removing or Altering Stop Loss: 11
- Times Mentioned Distraction: 1
- Average Time Spent Trading per Day: Around 1.5 hours.
