NexusFi: Find Your Edge


Home Menu

 





Keeping it Simple


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one Silver Dragon with 19 posts (69 thanks)
    2. looks_two Anagami with 2 posts (6 thanks)
    3. looks_3 babypowder with 1 posts (4 thanks)
    4. looks_4 mmaker with 1 posts (1 thanks)
      Best Posters
    1. looks_one babypowder with 4 thanks per post
    2. looks_two Silver Dragon with 3.6 thanks per post
    3. looks_3 Anagami with 3 thanks per post
    4. looks_4 Rayzor with 1 thanks per post
    1. trending_up 9,889 views
    2. thumb_up 82 thanks given
    3. group 8 followers
    1. forum 26 posts
    2. attach_file 14 attachments




 
Search this Thread

Keeping it Simple

  #1 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Good evening and welcome to my new trading journal.

Going to get right to it; I have come to realize recently that simple is better. I have my dad to thank for this. He reminded me in a not so subtle way that the more complicated you make things the easier it will be to screw it all up. Thanks dad!

Want to give thanks to @ babypowder @EricJ @TheWizard @sharky for posting their journals. Its been a big help to getting to this point.

You can read how I got to this point in my previous journal

First Journal: [COLOR=#0066cc]https://nexusfi.com/trading-journals/9228-break-even-trader.html#post110596[/COLOR]

Attached is a chart and indicators I will be using.

Strategy is pretty simple. Use the crossing of CCI's above and below zero along with trendline breaks and volume spikes to enter and exit trades. Examples to follow.


SD

nosce te ipsum

You make your own opportunities in life.
Attached Thumbnails
Click image for larger version

Name:	Simple Setup1 5-22-11.png
Views:	707
Size:	159.3 KB
ID:	39034   Click image for larger version

Name:	Simple Indys 5-22-11.png
Views:	477
Size:	69.7 KB
ID:	39035  
Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Futures True Range Report
The Elite Circle
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Better Renko Gaps
The Elite Circle
 
  #3 (permalink)
 Rayzor 
Coloado
 
Experience: Beginner
Platform: Ninja Trader
Broker: AMP, OEC, CQG
Trading: NQ
Posts: 129 since Sep 2010


Wow, you really have simplified your charts. I have simplified my trading approach as well, I hope it works out for you as well as simplifying has been working out for me. I think we all go through this process of using a bazillion indicators to narrowing it down to what we really need and what works for us. Good luck with your new approach!

Visit my NexusFi Trade Journal Reply With Quote
  #4 (permalink)
 
Anagami's Avatar
 Anagami 
Cancun, Mexico
Legendary Market Hustler
 
Experience: Advanced
Trading: MES
Posts: 978 since Dec 2010
Thanks Given: 707
Thanks Received: 2,300

Keep it simple... but not simpler than that.

You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
Reply With Quote
  #5 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

The first thing I want to focus on is change of direction. In the attached chart from today you will see examples of how change of direction is captured using CCI20 and trendlines. See notes on right side of the chart.

Notes:
I am currently using Better Renko with a range of 4.
I drew the trendlines in realtime today.
Keep in mind that trendlines are subjective; What you see and I see may not be the same thing


SD

nosce te ipsum

You make your own opportunities in life.
Attached Thumbnails
Click image for larger version

Name:	5-24-11 Simple examples.png
Views:	510
Size:	242.7 KB
ID:	39194  
Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #6 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

The second thing I want to look at is how to use CCI and trend lines to enter trending instruments or bouncing off support levels. In the attached chart, breaks of CCI which correspond with a trend of support are identified with black lines.

SD

nosce te ipsum

You make your own opportunities in life.
Attached Thumbnails
Click image for larger version

Name:	5-24-11 Simple examples Trending and Support.png
Views:	336
Size:	228.6 KB
ID:	39198  
Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #7 (permalink)
 
babypowder's Avatar
 babypowder 
Brooklyn, NY
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus/IB/FinFx
Trading: ES, Forex
Posts: 182 since Apr 2010
Thanks Given: 202
Thanks Received: 199

Hey Silver,
Glad to see your using the bounce/break TL plays. Keep up the good work. Since your using TL's I'm attaching a simple technique that you can use for targets. When you establish a TL ( 2011-05-24_2203 - babypowder's library) just copy and drag the same line forming a short term channel ( 2011-05-24_2217 - babypowder's library) giving you a target with the trend. Play with it, if it can compliment with your trading.

Happy Trading,
BP

Reply With Quote
  #8 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
Cincinnati Ohio
Legendary Master Data Manipulator
 
Experience: Intermediate
Platform: TastyWorks / NT
Broker: TastyWorks /NT
Trading: FX, Stocks, Options
Posts: 2,107 since Feb 2011
Thanks Given: 6,422
Thanks Received: 5,238

Good evening everyone!
I would like to get some input from the full time traders;

In addition to simplifying my trading I have also decided to layout a serious career path. Below is what I have thus far. I took the approach as if I was starting down the path for the first time. I put them in order of logical growth. What am I missing? Is it out of order? Your feedback is appreciated!
  1. Create Journal / Goals
  2. Learn about trading:
    • Read books about trading
    • Read journal entries and how to's in Big Mikes Trading forum
    • If possible, find a mentor
  3. Lay out a Repeatable trading strategy
  4. Trading platform - choose appropriate software based on trading plan.
  5. Test trading strategy.
  6. Repeat steps 3,4 & 5 until the proper strategy is found.
  7. Practice and refine trading strategy
  8. Create Financial Journal with goals
  9. Open trading account.
  10. Practice and refine trading strategy with live account
  11. Continue to learn.
Thanks in advance!
SD

nosce te ipsum

You make your own opportunities in life.
Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #9 (permalink)
 
mmaker's Avatar
 mmaker 
Toronto Canada
 
Experience: Intermediate
Platform: ninjatrader
Trading: es
Frequency: Several times daily
Duration: Minutes
Posts: 400 since Feb 2011
Thanks Given: 1,178
Thanks Received: 508

Right on, Right on.

Remember that when a trade goes against you 8/9 ticks!

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #10 (permalink)
 
Anagami's Avatar
 Anagami 
Cancun, Mexico
Legendary Market Hustler
 
Experience: Advanced
Trading: MES
Posts: 978 since Dec 2010
Thanks Given: 707
Thanks Received: 2,300


Couple of things:

1) 38 steps - I found this has mirrored my own development quite well. Good to review one's goals and processes with respect to where you find yourself.

2) LBR gives some solid advice - here and here.

Hope this helps you on your journey.

You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
Reply With Quote
Thanked by:




Last Updated on September 19, 2011


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts