Manual grid system for NinjaTrader

November 5th, 2023, 03:36 PM

Oracle

Hello @agalindoc,

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.

@Oracle

Thanks Oracle! i appreciate the improvement suggestions and will be glad to continue getting your feedback!

AG

November 6th, 2023, 07:26 AM

Hi,

how to cooperate?

David

November 6th, 2023, 11:44 AM

6/Nov/2023 $229.50usd profit started trading 8.56 ended 11.28est quite trading day, from the overnight and us session start the market showed signs to be in a range. Easy trading day.

Almost all the trading period the price was oscillating around the POC full session level. With slow movement and momentum going up/down.

After 9.00 am the market started moving but as we already had a double top i was waiting to see the price action at resistance level formed by the two full session highs

Price rejected at resistance with momentum starting to cross so i enabled the down grid direction.

Made a small initial profit and watching the price over POC, for sure will reject but i let the grid do its job.

Collecting profit thanks to the price range.

And after some profit i saw the price compressing forming a triangle so i did not wanted to wait until the break of it so i disabled the grid and finished the grid system trading for today.

Hope all have a great week!
AG

November 7th, 2023, 10:08 AM

7/Nov/2023 $244.00usd profit started trading 8.15 ended 9.57est another easy trading day

Overnight was slow in a range with momentum going up/down. The previous low had divergence in momentum and divergence in volume and after that price went up testing previous day high. AS we are at the top of a range i will wait to see the price action at relevant price levels.

Price made a pullback and tested for 3rd time the resistance level and in a small retrace i enabled the up grid direction as looks the price will be trading in range and more aligned to go up slowly. Big risk for taking the decision at resistance level without a break.

Collect some profit in the up swing then price went down with a clear momentum flow and i just let the grid to do its job. After collect some profit and as i must go out of my desk i stopped trading for today.

All have a great day!
AG

November 8th, 2023, 01:39 PM

$24.50 usd profit started trading 8.06 stopped 13.09 est

Price had very slow movement overnight, ranging at resistance level (a very strong resistance level) that we can see more clear with daily chart.

At US session start the price continued extremely calm, without movement so i tought the market was waiting for the Fed's speech.

Then the price tested resistance US session price level and i decided to enable the grid in the up direction.

Made some profit, then price tested for second time (double top) the strong relevant price level from previous days and decided to hold the up grid direction.

Then price reversed with a strong down swing and as i did not closed the grid at a loss i saw the price paused in a small range for several minutes, then another down swing with a float loss of 1.3k when the price returned to the up direction and thanks to the grid i was able to exit at break even.

Today i had a couple of good lessons:

first, i can't trade at resistance level in the up direction, only when a failure break happens (this is, the price breaks the level and shifts to support).
second, again, keep loses short, is true the grid helps to recover on a retrace but if the market never makes a retrace i will end with a big loss.

Have a great day!
AG

November 9th, 2023, 12:47 PM

9/Nov/2023 $400.50 usd profit started 8.23 ended 12.16 est

Overnight price ranging without clear up ro down direction and on this market conditions is not possible to make any trading decision.

After the US data release the market still was calm, without direction definition (small up movement) so now i decided to wait until the Fed's speech to see signs of the market movement (price action / price movement).

At Fed's speech the price started moving down after a new session higher high with momentum development going down and room from support and POC and i taked the down movement as a reject of resistance from previous days level and enabled the down grid direction.

Made some profit and POC very clear as support level driving the price to the up direction so now i was looking the best opportunity to exit BE or with profit pausing the exit to collect more profit on any down movement/retrace

Price was ranging so the grid was useful to collect profit.

Then price made a pause compressing so i was holding the grid.

Price moved strong to up direction, paused the exit and with a nice price retrace the grid closed with profit.

And that was all for trading the grid. All have a great day!

AG

November 11th, 2023, 11:24 AM

10/Nov/2023 No trading day, was out of the city Friday and weekend so will resume trading at monday.

All have a great weekend!

AG

November 13th, 2023, 07:32 PM

Nov/13/2023 No trading day. Wasn't able to be at my trading desktop. Has been spending time with a nice algorithm to automate the decision to go up or down with the grid so today i did not traded the grid.

Have a nice week!
AG

November 15th, 2023, 12:58 AM

Thanks for journaling everything!

November 15th, 2023, 10:39 AM

Nov/15/2023 Testing the automated version of the grid on evaluation account. Until now usd$177.50 in loss but adjusting the exit algorithm because i set it the compounded momentum at 2 minutes and need to find the best value for NQ.

So i will let it run for all the day, may be the end of day will exit in profit or in bigger loss so i will update the journal.

All have a great day.
AG

Manual grid system for NinjaTrader

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Manual grid system for NinjaTrader