AtClarkson Trading J16

1 more thing that can go on your study list-

you should get a round number indicator and then check out how often PPZ's form around numbers ending in 00.

I do the Round number thing already, it rocks...

And I had the round number indi, didn't like it at all. felt it cluttered up my charts.

Off to work today! Weird... first time in a while.

Catch ya later

I haven't posted in like 2 days! bah!

Been way busy, Bartending Fri/Sat Night, Working at the machine shop fri/sat day, its been one job to the next then sleep then get up and and it again lol. It should snow soon, so I'll have more to do, and hopefully get lots more calls for contracts and one time cash work. Other than that, the machine shop seems decent, and will provide me with some cash flow.

Finally some time to sit down and catch up. Read the last few days of J16 posts, caught up on stoiter and Matts journals, and now going to get rid of some charts. I realized that while having piles of charts is great... I don't want to trade the EURLVL that has balls liquidity and no one trades. Not worth it.

I'm going to go thru my charts today and cut wayyy down on the forex charts, and pick out the futures I want to trade. (corn, soy, oil, etc.) It's a royal pain keeping up with that many charts when so many are so correlated, and then finding out that the one with some PA has a 100 pip spread or something stupid.

Emailing Jim regarding lines in his trading

Check in later tonight, I need to look at the weeklys and monthlys, then read over this journal and catch up on things I've said I would do and havent.


PS everyone should read MBQ's post here re: trade management. Awesome stuff : http://www.forexfactory.com/showpost...ostcount=36491

After reviewing the dailys, weeklys, and monthlys (I didn't get a chance earlier this week) then got corrected by mbq (thanks Mike ) for being a tool (my words, not his) and trying to take signals from the dec monthly rather than the nov monthly... lol

Anyways, I have cut it down to 3 charts.


Gold Weekly - Pin, good close, nose sticks out, no traffic, some room to move, round number 1200, clear swing high, all time high, Room to move
Silver Weekly - Pin, not as nice a close, sticks out well tho, double top/PPZ (To the pip, 19.45), round number 19.00, clear swing high, bit of traffic, but room to get to BE,
Issue with both Gold and silver is they are CT trades.

NU Weekly - prob won't trade this, but another IB I will watch. Pullback of recent trend, swing low, some room to get to BE at break. Will watch

Setting a trade on silver. While Counter Trend goes against my rules, trading a great location (double top, great resistance area) certainly is within them. I will probably be tweaking my rules a little at the end of december to allow a little more for trading consolidation periods at good locations, as well as to fit situations such as this, which I have seen several times now. A good pin that may signal a turnaround of the market is not one you want to ignore. We'll see what happens with silver and gold.

Sell stop at 17.95 (little more than 10, but want to get a bit of space from the round number)
SL at 19.55



Silver/Gold opens at 6pm my time... learned something

Gold would have already triggered an order by now, silver sit a few pips away from triggering. This is a weekly bar tho, I'm content to wait for a good break.

my broker offers spot gold and silver instead of futures contracts.. im pretty sure they are open 24/6 like the forex week. ive never traded them though.

as for catching up on my journal i dont think theres much there to catch up on really..

i was thinking about how long its been since i made a trade.. and in one of mikes webinars he mentioned that he hasnt made a daily/weekly trade since august or something..

kind of discouraging actually.

would we rather be profitable or would be rather trade more?

Alot of the guys trading lower time frames have plenty of trades, but that comes with time. Learn the basics first. Patience is what we are learning now Don't get discouraged.

Hi!

Great post, I'll try to follow.

I don't want to get into your conversation with NCFtrader, but I also think, that your SL is too tight if you trade on a daily basis.
Of course everybody has its own method/tuning of J16 and I'm curious what will come up with your method

I also demo trade, but I'm trying to find the optimal SL place, like divergence, PPZ, etc. I always got out of the market with my tight stops (yep, I tested it , and of course the market went "the right" direction then :/

Lol at NCF, it was not his idea I had an issue with, it was the way he went about presenting it. Regardless, I like getting into a 'free' trade as quick as I can, but I am working on different ways of riding a trade by not tightening up so quickly.

It's tough to strike a balance between squeezing extra profit out and letting your trade run, but so long as we're following our plan and getting our heads straight, the money will come with time.

Silver Update:

My silver trade went 10 pips into profit then reversed, I am currently down 30 pips. I am content to let this guy breathe some, it's my first weekly bar trade.

edit: just realized i missed the beauty BEOB on silver daily earlier last week lol.
Also, position sized wrong... silver is 50 bucks a pip on a full lot.
I'm trading 0.6 lots... which is 30 bucks a lot. I should have been trading 9 bucks a lot. Regardless... big account size plays with your head even on demo... I'm down 1k right now, which is only 36 pips. This leaves me once again messed up with the broker thing. Maybe next month I'll go back to what I will be trading. Altho I know if this was 1k profit I'd be like alright... this rocks lol.

Head games...

Confused with lines/zones again. Glad I have my charts cut down a bit to let me focus on my chart setup now, and then maybe later I will expand to more markets.

One day I'll get all this

hey man.. just something i read from fiji trader regarding position size mistakes..

if you make a position size mistake you should probably close it down as soon as you realise and take the small loss as a lesson learned.

otherwise-
A huge winner will skew your demoing results and you might be tempted to make more trades with that size.

Or a big loser and you will will have to restart another demo account thus making it unrealistic.

hey clarkson just thought id post up those rounds here so you always have it for reference lol
let me know how your cpu speed is . I doubt it will effect your comp though its a beast lol

oh word has it some other guys have had the same issues with cpu speed and a few of us were actually using the wrong round number indy that slows ur cpu something chronic.

here is the 1 they just posted up. I will put it to test now
hot of the press

i am cuttin back on pairs to . man this is killing me. to many things to think about

stoiter- I closed at BE this morning to get out, I am debating re entering the position at proper size now (it is hovering around my entry)
edit: I just reentered at a few pips below my original order with correct sizing. Basically getting another chance at it for free. Cool.
Thanks for the info, that actually makes alot of sense (head games again! haha)

Matt- Thanks buddy. I'll let you know what she does.

Small update: After Reentering above trade at proper position size, I am now at breakeven. (At 20 pips profit) Nothing off the table yet. (Re enter was at 17.92) currently 27 pips in the black.

edit... trying to give this a little room to breathe, I closed out half at 19 pips (it came back a little) and moved my SL to just above the break of the nose. I'll check it again in a bit.

After seeing some nice IB work out on the yen pairs yesterday, I am going to do some more reading about em and add them to my arsenal of trading tools.

From what I know, they should be traded at swing high and lows, with an order at the break of the bigger bar being the conservative way to play em. With the trend, confluence and all that good stuff too.

Also will be watching 2 day pins and such as well.

Just waiting for snow tonight... so prob gonna be re reading my journal and listing off the things I've said I'm gonna do... and try to actually do em lol (again...)

Whew. First snowfall is all cleaned up.


Still in silver. Up 54 pips, and looks like today will make a 2 bar matching low, after a trend so it should break thru it in the next day or so. I'll be tightening up my stops a little bit tonight.

Took the Nat Gas Outside bar last night (see attached)
Outside bar, swing high, Round number, PPZ, down trend, some space. It entered, went 20 pips (my EA was set for 30) and turned around and ran.
It did give me some chance to profit, no doubt, but certainly movd the other way quick. Something to think about next time.

Any thoughts on the bar? It followed my rules, only thing I see is it could have had more space.


Lost 380 pips on this guy.

It's late, and I should prob go to work in the morning... lol but I have some stuff I want to get down in case for some reason I forgot.

After my sizable loss today, I have come to several conclusions. First, the 100k account is messing with my head. I'm gonna dump FXPro (which uses mini/std lots only) and my 100k account (someday I'll be there tho ) and in the process, futures. Going to just forex until I'm ready to expand. I've got 20 odd pairs to watch on JadeFX or PrimeBank.


Also, I've realized I don't have the stomach for large losses. Granted, it was only 1%, due to my risk management, but I agree with James, (and many other successful traders) it is best to kill a loss quick, and move onto the next trade. That said, I have an idea I will be testing. I will position size and utilize risk management as per usual, (1% risk based on stop at end of bar) but will actually place the stop much closer to the entry. Likely 30-50 pips away. This will ensure losses are taken quickly. (Cut your losses short) It may limit some moves that retrace after entry then take off, and it may not work at all, but I'm going to test and see. Regardless, it is a great way to protect capital.

Also, I will be experimenting with mbq's trade management of not taking partial profits, but simply trailing stops and closing the whole position at the target. We'll see how it goes as well.

Looked at the charts today and saw 2 nice inside bars I really liked, (EJ and CJ) but my head wasn't in it, like I said I just came off a couple days of plowing, and a loss, so I wanted to get myself straightened out a little. Some time with the missus relaxing did it for me.

Game on for tomorrow, and I have a lot I want to get done in regards to trading this weekend (how many times have I said that in this journal... lol)

I can relate so much to this. I hear ya
whilst its easy in theory to think you can watch price move against you so much its actually so tough to stomach it. There's 2 trains of thought where i have been confused but it all comes down to personality i guess. What clockwork does he isnt to fussed about large stops but james on the other hand is super tight on stops which is fair to.

I went into that nat gas trade to, lol my sell stop wasnt triggered by only 1 pip. that is just luck other wise I would be in the same boat as you (down 400points or so lol) My stop didnt get triggered either so i guess i would still b in this trade but i just canceled it.

I think you should keep trying and not get put off by 1 trade that went wrong. heck I have been bitten on the arse so many times with trades like that. Im sick of it lol. I dont know what to do though.

those inside bars worked out well man. couldve got to be on those ones i rekin?

well i havnt even really been looking at the charts the last day or so. I have just jailbroken my ipod so I am kinda obsessed with customizing it right now oh yeh and ive got the stinkin flu. it suckssss


happy truckin Canadian

Hey buddy, I'm gonna get some snow pics for ya today if I remember

You're 100% right, it's personality. I'd rather the tight stops, and maybe even a lower risk % until I get better at it.

I don't know where you got the idea that I'm gonna stop trying.... this is going to happen, come hell or high water lol. I will get it. This is simply a learning experience that is helping to shape my future trading.

lmao at jailbreaking (cool, eh?) and sucky with the flu. Feel Better!

No work today, but have to go do a couple contracts for plowing. Will be on here a good bit.