SniperDaytrader's journal

[SniperDaytrader]

Week 15 results

My goal for this week was to regain confidence. I was trying to trade just the best setups with controlled risk. I was trading just 4 days (Tuesday till Friday). Most of the time the markets have been quite slow, specialy on Friday.

I had 3 winning days + loss on Wednesday. Except Wednesday I had 100% win ratio (Wed just 33.33%). The total profit is not very impressive but it is the first step towards recovery from previous period of bad weeks.

 

[options-george]

So I am with Konviction in that I have no idea how you actually trade - but hey if it works for you then great!!

Great to hear that you seemed to have a good week. Good luck for the one coming up!

 

[SniperDaytrader]

So I am with Konviction in that I have no idea how you actually trade - but hey if it works for you then great!!

Great to hear that you seemed to have a good week. Good luck for the one coming up!

I trade the market auction. I closely watch it on the tape (orderflow) where I am trying to identify the specific market participants (stupid traders, market makers, hedge funds/banks etc.) and when I do I am trying to figure out what are they trying to achieve and how well they do it. By all of this I create a picture about the market and it also allows me to enter the market with minimal risk (see my entries on pics few ticks from tops and bottoms).

Thanx, good luck to you as well 🙂

 

[options-george]

hey there SDT
Just so you don't think you are the only one - today was my turn for a blow-out day in terms terrible trading results!

To counter it I went out for a 7.5km run in a pace I never thought I could do, plus I managed to give my nephew a really good hand with his school-work. Good thing that there are things aside from trading :cheesy:

Good luck out there!

 

[SniperDaytrader]

April 14, 2015



Another difficult day. Markets kept falling from the beginning and when the consolidation started the volume faded away leaving me with little chance to enter the market properly. And to add to my misery I had also some technical difficulties when I entered the market twice by mistake.

T1 Was good trade which simply didn´t work out. Only Nasdaq broke the microconsolidation down with volatile bar, I saw some trapped bears followed by lack of interest to sell lower. So I went long. As the position returned to test the low again I cancelled it with flat shortcut and got 3 ticks slippage. -9

Point A This could have been aggressive short entry (for me) but I am currently trying to avoid those trades, so I didn't take it.

T2 and T3 Average trade, not so clear from beginning. I was trading more structure of the market than actual market auction. The market went my way exactly to touch my profit target but I didn´t get fill. I should have closed the position right away but I gave it too much space. Then I closed it with flat shortcut when it came close to my stop loss, but at the same time market triggered my actual stop loss. So I got out from the position and my platform opened reverse (short position) resulting in additional loss. -11; -3

Point B This was very clear setup which I missed (I was paralysed 🙁 )

T4 and T5 First I enterd too early. I realised my mistake and cancelled the position at BE. Then I did reentry after the market tested the willingness of bulls to buy higher with negative response. After I entered I saw some bad signs in auction so I opted for a quick exit at BE-2, but instead of hitting flat shortcut I hit the sell shortcut so I added antoher contract to already bad position. Then I flated both contracts. 0; -3; -1

T6 Finally very nice trade from the local high. I knew I am correct after I watched the auction at the price levels of my entry but I didn't want to risk homerun. I needed to lower my drawdown. So I opted for quick +10.

T7 I was waiting for this setup from the last entry and I planned it as my last entry for today. Volume was already at critical levels and in such conditions I am losing my edge. Very nice and quick trade without any heat. Again I opted for quick +10 to lower my drawdown.

After all the technical difficulties, missed opportunities and bad market, the -$67 loss feels like small victory 🙂

 

[Fugazsy]

Hi Sniper

Thank you for your post and keep it up....

 

[options-george]

Hi Sniper

Thank you for your post and keep it up....

Good to see you are still updating your blog and being consistent in your trading!

What type of skating do you do?

 

[SniperDaytrader]

Good to see you are still updating your blog and being consistent in your trading!

What type of skating do you do?

Hi O-G,

sorry for the late answer.

well, there is a lot of room for improvement - both in consistancy of trading and in updating of my blog 🙁
The markets have been very slow latelay which put me littlebit off balance and I was trying very hard to adapt which resulted in some additional losses. I was working hard until late evening to analyse the situation and take measures to avoid further increasing of draw-down.

As you can imagine, under those circumstances I didn't have energy and time to update the blog 🙁

Regarding skating - there is a nice sidewalk near a river where I currently live. So I enjoy roller skating there. I need to do some cardio workout as well and this is a nice supplement for running which I find boring 😴

Thanx and good luck to you,
SDT

 

[options-george]

Hi O-G,

sorry for the late answer.

well, there is a lot of room for improvement - both in consistancy of trading and in updating of my blog 🙁
The markets have been very slow latelay which put me littlebit off balance and I was trying very hard to adapt which resulted in some additional losses. I was working hard until late evening to analyse the situation and take measures to avoid further increasing of draw-down.

As you can imagine, under those circumstances I didn't have energy and time to update the blog 🙁

Regarding skating - there is a nice sidewalk near a river where I currently live. So I enjoy roller skating there. I need to do some cardio workout as well and this is a nice supplement for running which I find boring 😴

Thanx and good luck to you,
SDT

Sorry to hear about what sounds like a tough recent period for you. I can't remember for certain - but I think you are trading on your own, right? If you want to have a skype some time to talk trading with someone I'd be happy to give you a listening ear. I kind of lucked out and found some other traders with whom I share an office. Each of us has discovered that being able to talk with each other is a really big help particularly during periods when the market conditions seem tough.

Re skating - that's awesome! Skating's my big hobby /passion - I do lots of speed-skating!! :clap:

 

[SniperDaytrader]

Sorry to hear about what sounds like a tough recent period for you. I can't remember for certain - but I think you are trading on your own, right? If you want to have a skype some time to talk trading with someone I'd be happy to give you a listening ear. I kind of lucked out and found some other traders with whom I share an office. Each of us has discovered that being able to talk with each other is a really big help particularly during periods when the market conditions seem tough.

Re skating - that's awesome! Skating's my big hobby /passion - I do lots of speed-skating!! :clap:

Yes, I am trading my own money, but if you know someone who would like to invest into my account I am all ears 😀

I totally agree, that being able to talk with fellow traders is priceless specialy when you are dealing with difficulties.

Thanx,
SDT

 

[options-george]

How are things? I am back from 6 weeks break. I can honestly say that learning French is harder than trading fx.

Have you stopped updating the thread here, and are only updating on your blog?

 

[SniperDaytrader]

How are things? I am back from 6 weeks break. I can honestly say that learning French is harder than trading fx.

Have you stopped updating the thread here, and are only updating on your blog?

Hello O-G,

I am ok, still struggling with my trading. Have you been to France to learn the language? For me, languages are easy. Trading is the most difficult challenge I had in my life so far.

Unfortunately, I had to stop updating this thread temporarely because of my other activities. I am still trying to update my blog at least 2-3 times per week + I am tweeting my trades whenever I can.

 

[options-george]

I spent 5 weeks in Paris. Still found it very tough though.

Hang in there with your trading. You will get there. There's no short cut 🙂

(I have actually started to do a little bit of futures trading on ES and TY from time to time - not very often though. I think that's mostly what you trade, right?)

 

[SniperDaytrader]

Do you usualy trade also while on a trip like this one?

I am looking at the ES as well but I am trading mostly e-mini Nasdaq NQ (85%) and e-mini Dow Jones YM (15%). ES is littlebit too expensive for my account right now 🙂

Thank you for your kind words. Good luck to you as well 🙂

 

[options-george]

Do you usualy trade also while on a trip like this one?

I am looking at the ES as well but I am trading mostly e-mini Nasdaq NQ (85%) and e-mini Dow Jones YM (15%). ES is littlebit too expensive for my account right now 🙂

Thank you for your kind words. Good luck to you as well 🙂

I didn't look at any charts during my break in France. It was 100% off work. And no, I have not traded during trips in the past. I do sometimes trade from other locations - say if I am staying with my folks in New Zealand, but then I work full days.

I pretty much need full concentration/focus when I am trading. I find it amazing that some people do well at this on a part-time basis. At this point, I can't picture myself doing that.

From Monday of this week I have been back into it on a full-time basis.

Re contracts - this might make me sound a bit stupid - I think it's the emini that I have been trading (1 tick = $12.50) and also the TY (so the US 10-Year) which I think has a tick-value of around $15? I am doing some testing for a friend of mine so we have only been focusing on the P+L in terms of ticks, rather than dollars.

 

[Fugazsy]

Hi Sniper

it had been a while, h r you?

fug

 

[SniperDaytrader]

Hello Fugazsy,

sorry, I am too busy to post regularly here.
Still trading tough.

Here is a video of a trading session from February 3rd, 2016

And how are you?