In this journal, I will be chronicling all of my trades across different markets. I am certain it will be more inviting for me to keep up on since they will all be in this one thread. Feel free to comment . Thanks- I only trade futures by the way
The following are my current open trades: Long Oct Sugar 967 Long Sep Aussie Dollar Futures .84550 Long Auggie Heating Oil 2.0145 Long Sep Euro FX 1.35050 Long Sep British Pound Futures 1.9979 Short Sep ES from 1544.00
Over my career , I have always traded by looking for divergences and then attempting to get in a trade on a reversal and subsequently following the new trend. As I have aged, I no longer feel the desire to outsmart the market and be right about reversals. I have decided a good way to take pressure off of myself is to become a total trend follower. (I was basically doing this already with the added feature of catching reversals to help the return, so I will be dropping the reversal spotting unless unbelievably obvious). I am now all about enjoying life and taking it a little easier, thus I will now forego the usual searching for reversal and I will simply trend follow. --Mind you, this is my own brand of trend following where I will be using MY grail method and yes, still divergences in the direction of the trend on pullbacks/bounces. I have my own way of defining longer term trends and all trades will be made in the direction of the longer term trend as I perceive it, even if I should venture out intraday, which would most likely be in ES or the currencies only. I look forward to communicating with you in the near future. I will also continue to write run-on sentences as I please--
Hi there b1s2, Look forward to your new journal. Do you have a stop and a target on that ES trade? What (if any) is your opinion on long Yen here? regards, Chuck
My stop is above 1554.25 As far as Yen Long goes, we may be in for a reversal to the long side. However, I will not play the long side until the long term trend reverses convincingly to the upside. I would mention as well though, that right here right now is not a good place to short the Yen, even though the long term trend is still down.
Update on current postions Long Oct Sugar has come back to be a couple of ticks in the black now Long Sep Euro FX, Long Pound, Long Aussie have been adding to gains Short Sep ES has dropped a few handles today, but I will be looking to cover and go long at some point. Long term trend is still up. ( I am still short however from 1544 at the moment ) Long Auggie Heating Oil is still holding up near 2.10. This has treaded water for a couple of days and I will monitor fairly closely. This trade has done well so far as it is up currently over 3000 per contract
What I intend to do here with this journal is to chronicle large winners and smaller losers. The following is an update on what I believe is the current longer term trend direction of the markets that I am in interested in (Currencies are all paired with USD) 10 yr notes--Down ES--UP NQ--UP Euro FX--UP Pound--UP Swiss Franc--UP Canadian Dollar--UP Aussie Dollar--UP New Zealand Dollar--UP Japanese Yen--Down Sugar--UP Cotton-UP Coffee--Down OJ--Down Cocoa--UP Nat Gas--Down Crude Oil--UP Heating Oil--UP Rbob Gas--UP Soybeans --UP Corn--Down Wheat--UP Oats--UP Note--These are what I consider to be the longer term trends and will not necessarily mean that I am buying or selling at the present time. It does however, mean that I am looking for entries into trades in that direction and only that direction.
Update for today: Continued holding Pound, Aussie and Euro FX Future long basis Sep 07 Continued holding Oct Sugar Long Continued holding Auggie Heating Oil Long Continued holding Sep ES Short