AllenZ's Journal

Thanx for sharing this risk magement rule. It inspired me to tweak my intradaymethod.

could you include the number of total/winning trades for the running month?

 

I appreciate the adding of the trade's holding time.

 

Boring day. Not much to say as most of the action is taken out in the gaps and reaction to the open. There was a lot of consolidation after the opening range so I waited a long time to place my first trade.

Trades

Trade 1 - 11:29 Short 917 (925) Exit 913 +4 (911) 104 minutes
Trade 2 - 14:23 Long 915 (909) Exit 915 +0 (919) 60 minutes

Day Net* +4
Week Net -2
Month Net +45

Trade 1 - 60min IRB / 30min range break, basic setup and it went nowhere. I was in this over an hour and a half and decided for all that time I had to book something. Trade likely held up due to the limit down level of 911 for todays trading.

Trade 2 - 60/30min pivot, pivot on both timeframes and entered with a target range of 921 - 925. Went as high as 919 and I decided to move the stop to breakeven. Stopped out flat.

*Net does not include commission.

AllenZ

 

Anyone else bored this week. Lack of intraday movement is making me very tired. I dont trade overnight or in the first 1/2 hour of the day. This serves me well over time but this week I just see nothing happening.

I also wanted to get some feedback on the holding times, initial stop, and maximum gain reached while in trade sections of the journal I added.

Just curious as to the thoughts of others on these subjects.

AllenZ

 

Allen,

I've been enjoying some nice naps in my chair....lol....plumlazy-boy trading method.

 

initial stops - time in trade - maximum move in desired direction while in trade are nice additions - I like the use of these. Have been enjoying reading your journal. Thanks for the educational posting of your premises for taking on the trades.

Keep up the good work,

plumlazy

 

What he said.

 

bored - oh yes. and today seems to be another dull day. ES up 20 pts so far.

 

Another day, another gap. This is getting old real fast. What can you do, I am taking only the best possible trades and they are just going nowhere. You cant force the market to move and you cant overtrade chop. I am not big on adjustments so I will not look for smaller gains. I prefer to work through difficult weeks and I would need to see at least a month of this kind of activity before I made any major system adjustments.

Trades

Trade 1 - Long 10:16 945 (939) Exit 945 (949) flat 16 minutes
Trade 2 - Short 10:37 943 (950) Exit 948 (943) - 5 57 minutes
Trade 3 - Short 14:41 948 (955) Exit 948 (943) flat 58 minutes

Day Net* -5
Week Net -7
Month Net +42

*without commission

Trade 1 - Fade of 30min range break.
Trade 2 - 15min pivot following failed bounce.
Trade 3 - 60min pivot following wedge.

I guess you could call this week a drawdown since I am not making new highs in points. I dont mind a small draw from time to time and this week is just tough if you dont trade overnight. I am -7 points on 12 trades so not really a big problem, although I admit it is frustrating to watch the DOW +300 or +200 and know I am making squat. Also all my non-trading friends that call me and ask how much I am making cause the market is "rocking" and no idea that I need volatility to make my living. Anyway I just wanted to vent 4/5ths of the way through what I consider the most difficult week for intraday trading I can remember.

Anyone else?

AllenZ

 

In the room I call the QQQ. I use a multiplier to show traders how to use these entries to find entries in the futures. This is the way I learned to trade the futures so I just kept it going.

AllenZ