Long NASDAQ-100
Net P/L -1.05 points
Amount: 1 contract
Opening Rate 5351.27
Close Rate 5350.22
Open time 3/7/2017 3:54 PM
Close Time 3/7/2017 3:56 PM
Stop loss: fixed stop below lowest low then trailing SL
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
Setup got triggered but I knew I shouldn't take a position there. Why not? Because it is too close to the 5352.10 level. And IF I take a position I probably shouldn't make the solid SL a trailing one as soon as price approaches that level. I did exactly this. Why? Because my system tells me to. I am trying to follow my system to the letter again because this is the only way to properly test it AND to train my brain to just follow the system. Else you start taking trades you shouldn't have and not taking trades you should have and beat yourself up over missed profits or accumulated losses which makes you insecure and you become an emotional trader.
So I went long at the green arrow and a minute later I had to make it a trailing SL. Which got triggered at the red arrow two minutes later. Price then hesitated at the 5352.10 level for a minute or 5 and then hit the 5354.10 level where it bounced off and bounced back on the 5352.10 where it shot upwards ignoring the 5358.10 level. Price became somewhat stable at the 5365 level. That's close to the upper daily level I defined for the day.
However, not sure I should have included previous daily levels to take into account. My system isn't 100% clear on that either. I think it makes more sense to only take into account weekly levels (and monthly) on them.
Net P/L -1.05 points
Amount: 1 contract
Opening Rate 5351.27
Close Rate 5350.22
Open time 3/7/2017 3:54 PM
Close Time 3/7/2017 3:56 PM
Stop loss: fixed stop below lowest low then trailing SL
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
Setup got triggered but I knew I shouldn't take a position there. Why not? Because it is too close to the 5352.10 level. And IF I take a position I probably shouldn't make the solid SL a trailing one as soon as price approaches that level. I did exactly this. Why? Because my system tells me to. I am trying to follow my system to the letter again because this is the only way to properly test it AND to train my brain to just follow the system. Else you start taking trades you shouldn't have and not taking trades you should have and beat yourself up over missed profits or accumulated losses which makes you insecure and you become an emotional trader.
So I went long at the green arrow and a minute later I had to make it a trailing SL. Which got triggered at the red arrow two minutes later. Price then hesitated at the 5352.10 level for a minute or 5 and then hit the 5354.10 level where it bounced off and bounced back on the 5352.10 where it shot upwards ignoring the 5358.10 level. Price became somewhat stable at the 5365 level. That's close to the upper daily level I defined for the day.
However, not sure I should have included previous daily levels to take into account. My system isn't 100% clear on that either. I think it makes more sense to only take into account weekly levels (and monthly) on them.
Short NASDAQ-100
Net P/L -8.29 points
Amount: 1 contract
Opening Rate 5363.48
Close Rate 5371.77
Open time 3/8/2017 4:07 PM
Close Time 3/8/2017 4:25 PM
Stop loss: fixed stop above the highest high
Entry and exit on a 1m chart
Reason of closure: fixed SL got hit
Comments
Setup got triggered but it happened to be at a level that was defined yesterday AND the day before. And it seemed to have bounced right off of it. So I think I have a good rule for when previous daily levels are important enough to include the same day. When they occurred more than once on a daily (or weekly of course) level in the last 5 days it's important enough to take into account when taking a position. Beware only to take into account levels on the preparation charts. Weekly will also be taken into account that week and monthly that month.
Followed the system well but I think I need to adapt it soon
Net P/L -8.29 points
Amount: 1 contract
Opening Rate 5363.48
Close Rate 5371.77
Open time 3/8/2017 4:07 PM
Close Time 3/8/2017 4:25 PM
Stop loss: fixed stop above the highest high
Entry and exit on a 1m chart
Reason of closure: fixed SL got hit
Comments
Setup got triggered but it happened to be at a level that was defined yesterday AND the day before. And it seemed to have bounced right off of it. So I think I have a good rule for when previous daily levels are important enough to include the same day. When they occurred more than once on a daily (or weekly of course) level in the last 5 days it's important enough to take into account when taking a position. Beware only to take into account levels on the preparation charts. Weekly will also be taken into account that week and monthly that month.
Followed the system well but I think I need to adapt it soon
Short NASDAQ-100
Net P/L +9.45 points
Amount: 1 contract
Opening Rate 5357.35
Close Rate 5347.9
Open time 3/9/2017 4:41 PM
Close Time 3/9/2017 8:05 PM
Stop loss: fixed stop above the highest high later trailing SL
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
Setup got triggered. A bit late not in an ideal position and a bit close to the bottom S&R level but <broken record>following the system</broken record> . Trade didn't go anywhere and the resistance of the day became support. However my SL (which was wide because price already dropped so much before retracing) was never hit and around 19:20 price started plummeting after which I made it a trailing SL because it was close to 5353.85. Price dropped some more and finally I got taken out by the trailing SL.
Net P/L +9.45 points
Amount: 1 contract
Opening Rate 5357.35
Close Rate 5347.9
Open time 3/9/2017 4:41 PM
Close Time 3/9/2017 8:05 PM
Stop loss: fixed stop above the highest high later trailing SL
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
Setup got triggered. A bit late not in an ideal position and a bit close to the bottom S&R level but <broken record>following the system</broken record> . Trade didn't go anywhere and the resistance of the day became support. However my SL (which was wide because price already dropped so much before retracing) was never hit and around 19:20 price started plummeting after which I made it a trailing SL because it was close to 5353.85. Price dropped some more and finally I got taken out by the trailing SL.
Short NASDAQ-100
Net P/L +8.21 points
Amount: 1 contract
Opening Rate 5388.48
Close Rate 5380.27
Open time 3/10/2017 4:11 PM
Close Time 3/10/2017 4:42 PM
Stop loss: fixed stop above highest high then trailing SL when near 5379
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
Followed the system. Drew an extra level at 5379 because there was a huge gap between todays daily and weekly and/or double dailies. It also became apparent after I had made my preps. Seemed to have been confirmed afterwards by price action too.
System does not say anything about going in close to a level so I went in anyway although at first sight it didn't seem wise. But the trade was good this time. I mentioned before that perhaps I should put it in my system to not take trades like these, but I remember having had good trades like this as well. I'm a bit annoyed by this. I will have to review my trades and see what's better. Taking these trades anyway, or refrain from taking them...
Or something else entirely. I think if there has been a higher high it would be foolish to take, but now price seemed to have failed to surge higher.. which could suggest it breaking through the 5386.85 resistance/support ???
I have recently made a few bad trades by following the current system to the letter, there were also a few trades that were legitimate losers. I have the feeling that if I can filter out the really bad trades that this system could actually work. Maybe it's enough to throw away the higher high trades... anyway this will be handled when I review the current version of the system again. Which should be any time soon now.
Net P/L +8.21 points
Amount: 1 contract
Opening Rate 5388.48
Close Rate 5380.27
Open time 3/10/2017 4:11 PM
Close Time 3/10/2017 4:42 PM
Stop loss: fixed stop above highest high then trailing SL when near 5379
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
Followed the system. Drew an extra level at 5379 because there was a huge gap between todays daily and weekly and/or double dailies. It also became apparent after I had made my preps. Seemed to have been confirmed afterwards by price action too.
System does not say anything about going in close to a level so I went in anyway although at first sight it didn't seem wise. But the trade was good this time. I mentioned before that perhaps I should put it in my system to not take trades like these, but I remember having had good trades like this as well. I'm a bit annoyed by this. I will have to review my trades and see what's better. Taking these trades anyway, or refrain from taking them...
Or something else entirely. I think if there has been a higher high it would be foolish to take, but now price seemed to have failed to surge higher.. which could suggest it breaking through the 5386.85 resistance/support ???
I have recently made a few bad trades by following the current system to the letter, there were also a few trades that were legitimate losers. I have the feeling that if I can filter out the really bad trades that this system could actually work. Maybe it's enough to throw away the higher high trades... anyway this will be handled when I review the current version of the system again. Which should be any time soon now.
Long NASDAQ-100
Net P/L +2.83 points
Amount: 1 contract
Opening Rate 5373.27
Close Rate 5376.1
Open time 3/14/2017 4:16 PM
Close Time 3/14/2017 5:02 PM
Stop loss: fixed stop below lowest low and trailing SL near the 5377 level
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
I forgot to take into account the weekly 5373.10 level so I entered only slightly below it (spread is added into the opening rate you can see above so actually ended up opening even slightly above it). But, system says nothing about this anyway so I followed it as I should have done. But this is probably too risky but I will change the system soon and blablabla
As you can see the level is there because it keeps hovering around 5373 until 16:45 where it then moves up to the 5377 level. This level I had defined in my daily prep and thus the fixed SL became a trailing one. (*)
Price bounced off of that level and I got stopped out with a residual profit of 2.83 points
(*) Seems that when price is going up and then comes to a halt at a resistence level, if it keeps hovering around that level (not bounces off of it) for some time the resistance has become support and it is likely for price to go up again. This needs to be confirmed of course but I think I have also read this before. Seems logical too because it means buyers are strong.
Net P/L +2.83 points
Amount: 1 contract
Opening Rate 5373.27
Close Rate 5376.1
Open time 3/14/2017 4:16 PM
Close Time 3/14/2017 5:02 PM
Stop loss: fixed stop below lowest low and trailing SL near the 5377 level
Entry and exit on a 1m chart
Reason of closure: trailing SL got hit
Comments
I forgot to take into account the weekly 5373.10 level so I entered only slightly below it (spread is added into the opening rate you can see above so actually ended up opening even slightly above it). But, system says nothing about this anyway so I followed it as I should have done. But this is probably too risky but I will change the system soon and blablabla
As you can see the level is there because it keeps hovering around 5373 until 16:45 where it then moves up to the 5377 level. This level I had defined in my daily prep and thus the fixed SL became a trailing one. (*)
Price bounced off of that level and I got stopped out with a residual profit of 2.83 points
(*) Seems that when price is going up and then comes to a halt at a resistence level, if it keeps hovering around that level (not bounces off of it) for some time the resistance has become support and it is likely for price to go up again. This needs to be confirmed of course but I think I have also read this before. Seems logical too because it means buyers are strong.
Long NASDAQ-100
Net P/L +6.10 points
Amount: 1 contract
Opening Rate 5390.77
Close Rate 5396.87
Open time 3/15/2017 4:35 PM
Close Time 3/15/2017 6:10 PM
Stop loss: fixed stop below lowest low and trailing SL near the 5392.22 level
Entry and exit on a 5m chart
Reason of closure: trailing SL got hit
Comments
I actually left this trade open because I forgot to log in at home (I'm sure that won't happen with real money) and saw I had +40.00 points profit. That, however is not the system so I logged here what I should have done according to the system and what outcome that would have yielded.
Other than that not much to add, followed the system and the trade worked. Trailing SL would have been put in place near the orange dot and would have been triggered at the red arrow.
Net P/L +6.10 points
Amount: 1 contract
Opening Rate 5390.77
Close Rate 5396.87
Open time 3/15/2017 4:35 PM
Close Time 3/15/2017 6:10 PM
Stop loss: fixed stop below lowest low and trailing SL near the 5392.22 level
Entry and exit on a 5m chart
Reason of closure: trailing SL got hit
Comments
I actually left this trade open because I forgot to log in at home (I'm sure that won't happen with real money
) and saw I had +40.00 points profit. That, however is not the system so I logged here what I should have done according to the system and what outcome that would have yielded. Other than that not much to add, followed the system and the trade worked. Trailing SL would have been put in place near the orange dot and would have been triggered at the red arrow.
I have not yet made an analysis of the current version of my system. I am going to wait for a bit more data. It is not ranked whatsoever.
I started looking into trading since begin 2014. At first swing trading but halfway through 2015 started with day trading.
