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Pudzee


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Pudzee

  #1 (permalink)
Pudzee
Philadelphia, USA
 
Posts: 13 since Sep 2023
Thanks Given: 1
Thanks Received: 12

Good Day All,

By way of introduction, I am a price action trader. I have been trading ES, NQ, and RTY for the better part of a decade. It has been an extremely tough journey to get to where I am right now and I am nowhere close to where I want to be. I have been humbled by the markets enough to understand this is a lifelong endeavor.

I will give this journal a few weeks or so and take it from there.

The purpose of this journal is -

1) Feedback from other traders - good, bad, ugly - bring it on. It will only help me get better.
2) Pay it forward - present information to other traders that might help them in understanding the markets or perhaps add techniques and tools to their trading methodology.

I have recently started to Live stream my trading on Youtube. During the live stream, I post my reads so there is reason and logic behind my trades - I show my DOM - entries & exits. I understand a lot of people have day jobs and might find it difficult to join the stream so I also create shorter videos that condense my trading day. You will see the ups and downs of a trading day and a trader. I make a ton of mistakes every day (ironically, I am consistent with that) but that is the way I learn and I embrace it.

My methodology is based on Volume Profile and a bunch of proprietary stuff that I have coded for myself after years of extensive research. The famous lines I heard when I started learning trading - What is the market trying to do & Is it doing a good job at it ? I trade Price & Context - that is it.

Please note - my intention isn't to hand hold traders or answer basic questions - please do your own research. Additionally, I am not sure how actively I will answer questions, although I will try. I don't mind going into the 'why' of the trades as time permits, just not my tools.

May the trading Gods smile upon you.

Cheers

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  #2 (permalink)
Pudzee
Philadelphia, USA
 
Posts: 13 since Sep 2023
Thanks Given: 1
Thanks Received: 12

Yesterday we had a gap down open and then initiative selling. I had a miserable morning and took the entire day's trading to get back to green, although it turned into a decent day. If you haven't, please watch that video - it's long but it shows the ups and downs of a trading day as it happens.

Not often does the market offer easy days to trade but today it was generous. Today's context - Gap down open after another gap down open - odds are decent that responsive buyers will show up, so they did and that is what I played.

Ended the day with +26 in ES

It won't let me post the link for the video on YouTube. You can search for pudzee on YouTube.

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  #3 (permalink)
Pudzee
Philadelphia, USA
 
Posts: 13 since Sep 2023
Thanks Given: 1
Thanks Received: 12


Today's context - looking for buyers to close the Naked VPOC & Naked Close in the 70 area. I went long right before the Open and then took long in other accounts after the Open as price action dictated.

+22 in ES today.

It won't let me post the link to the live video. Search for Pudzee on YouTube

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  #4 (permalink)
Pudzee
Philadelphia, USA
 
Posts: 13 since Sep 2023
Thanks Given: 1
Thanks Received: 12

I have been streaming and creating videos for the past 9 trading days - currently I have 8 winning days and 1 losing day. Market has been kind to me in my readings. Here's the summary in points (each live trading video is available on youtube, it wont let me post the links here) -

Aug 28 - +22 ES
Aug 29 - +20 ES
Aug 30 - +10 ES, +37 NQ
Aug 31 - (-6.5) ES
Sep 5 - (-4.5) ES, +8.5 RTY
Sep 6 - (-8) ES, +100 NQ
Sep 7 - +26 ES
Sep 8 - +22 ES

Putting in time to create these videos has been an effort but I would admit that it's helping me reflect harder on the areas that I need to improve upon in regards to entries and trade management. I could use a bit more patience in moving stops to break even and curb the aggression in reentries- though it is a thin line I walk with my trading style, always a balancing act.

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  #5 (permalink)
TradingThomas
Las Vegas Nevada USA
 
Posts: 18 since Sep 2018
Thanks Given: 12
Thanks Received: 21

Thank you for the effort you have put in creating the livestreams. I notice you prefer entering with limit orders, even if it means chasing (cancelling and re-submitting) for 3 or 4 points if necessary. Have you determined whether an immediate market order would be more efficient or is this more than made up for by the times you enter on a pullback?

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  #6 (permalink)
Pudzee
Philadelphia, USA
 
Posts: 13 since Sep 2023
Thanks Given: 1
Thanks Received: 12

Awesome question TradingThomas !

Well, let me start with this - in general I have found market orders to be a better way to trade ES as long as you have a stable data & brokerage feed that isn't going to give you shitty fills.

You hit the nail on the head as far as limit orders are concerned - there are times when an entry on pullback will make up for using limit orders but at the same time there is chasing involved which might or might not work. .

That said, I personally trade with all three - limit orders (as you see in the videos), market orders and buy stop or sell stop orders. The latter two I use more for momentum trades especially when it's the start of a reversal of the move.

For example in the Sep 07 video - I bought the low with a limit order because it was one of my levels, I don't mind entering with limit orders at my levels and then deciding if I want to stay or not. You see that in the video at 10:40 mark. At the same time, I think I also had a buy stop order above 38 in a third account (that isn't visible but I mention in the notes) because at that point - it also became a reversal/momentum trade at the recapture of a key level. Now watch as soon as 38 is captured at 11:06 mark how the bars pick up steam for the move up - that is a mix of short covering and market orders and buy stop orders - this creates the momentum. Then I also use this information to stay in the trade or not.

In the Sep 8th video, you clearly see me trying to chase for a second entry at the Open while having a clear drive up trade hypothesis, I would have been better served with a market order - so there is also that. Limit orders are good for the videos though, viewers can clearly see the entry and the size is so small that a fill is likely.

I will summarize this way - it's a mix for me rather than a disciplined approach and honestly I am not sure if that is right or wrong.

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  #7 (permalink)
Pudzee
Philadelphia, USA
 
Posts: 13 since Sep 2023
Thanks Given: 1
Thanks Received: 12

Todays Context - Test of the Top of the Trading Range & 3 day open gap

ES +3.5

NQ +22.75

RTY (-6)


I had to end the stream because of a long video. Outside of the closed trades as depicted in the numbers, I am long from 22s in ES - looking for scale at 37 & then potentially more. Playing the same trade as in the video.


Here's the video - Volume Profile [AUTOLINK]Trading Range[/AUTOLINK] Strategy

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  #8 (permalink)
 
DavidHP's Avatar
 DavidHP 
Isla Mujeres, MX
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
Frequency: Every few days
Duration: Minutes
Posts: 1,609 since Aug 2009
Thanks Given: 11,328
Thanks Received: 2,743

Here is a link:
@Pudzee's Youtube

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
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  #9 (permalink)
 HiLatencyTRDR HLT 
Midway florida
 
Posts: 462 since Dec 2018

Um.....why not post your end of day account statement?
Also how many sides are you doing per day?

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  #10 (permalink)
Pudzee
Philadelphia, USA
 
Posts: 13 since Sep 2023
Thanks Given: 1
Thanks Received: 12


The brief answer is - Trailing Draw Down. There is a reason why these qualifying accounts are sold for $17 to $33 - because as good or consistent a trader you might be, the margin of error with the trailing drawdown is minimal, especially for a trader like me who lets his trade run. So my solution is - I usually trade 4+ accounts in a day. I had mentioned this before and I will say it again - I trade accounts, I don't date them. Some I lose, some I qualify and so on. As long as I am withdrawing at the end of the month - it more than makes up for the capital spent on getting these accounts funded. Further, it keeps me in the game and my skills get refined every day with experience. The accounts you see on the screen - I have been trying to stick with those for video purposes but I usually don't let an account last more than 3-5 days. There is an opportunity cost involved that is worth more than $33. It is possible sooner than later if I build a bunch of accounts with enough safety thresholds that I don't have to take this approach and this is the next step hopefully.

The way you phrased your questions sounds bit sarcastic and that is completely OK but let me make an attempt to bring your focus to the right area -

1) Are you learning something from watching these videos - entry & exit techniques, trade management, risk aversion, levels, realtime entry reversals, etc - the essential skills required to be a day trader. If yes, then that's all that matters, if not, then it's not worth your time to watch these videos - keep it simple.

2) Does my financial returns matter to you ? If not, then why worry about my numbers. By the way, I do post my withdrawals from Apex on youtube.

3) This is more of a mini rant - over the past decade I see these educators (I am not taking a shot at anyone, just my experience and observation) - they do all these technical analysis, this and that, put in excel spreadsheets to make everything look so sophisticated but I never see them trade. Read this again - "I never see them trade". I never see their DOM and if there is someone who shows their DOM - it will never be consistent on a daily basis to get an idea of who they really are. I wonder why and so should you - is it just about selling a service ?

I am showing you my DOM - good, bad, ugly - and there have been all three ! Further, I ain't selling you anything. My primary goal by putting these videos out on youtube is to showcase my skills so that some big shark gives me an opportunity to trade size i.e. if they see the potential. If not, I will keep working on my skills and I genuinely believe sooner or later doors will eventually open up.

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Last Updated on September 15, 2023


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