ES 3 Ticks Profit

I refused to trade full size until my Account Refreshed to Normal Amount. My Money sucked to my damn apartment. Thank God It's sold. Very very annoying.

This month..sucks

Next month: Full power : $5000 target profit

My Microsoft Paint is error. Can't Capture Pic...

Secret Technique Of Wedge

Maybe most of traders know about wedge. I found this edge an expansion from my old setup. Unbelievable powerful!!!

Backtested for 10 days, none of them have losing day. I only backtest for 10 days because that's furthest of my chart data.



As you can see there's a lot of wedges at above pictures. Yellow is working, gray is failed. The winning ratio is only 50% but the risk-reward ratio all of them more than 2:1. Or if you want to stay safe, take 1 trades, worked, then have a nice day like the first yelow entry.

The trick is how to draw the wedges line as every people in the world has different perception. Well, mine's mechanical. Every people in the world may draw the same wedge line as I do with the trick. Unfortunately I can share the trick because it's copyrighted to my educator. I just want to inform that Holy Grail does exist. It's only not 100% winning ratio. Far from it. But ir's profitable. With discipline, patience, and sound money management, I am very sure you may become the profitable trader for the rest of your life. Oh and it's easy to do.

Not Disciplined and Punished

I don't know why I kept undisciplined. None of the entry based on my setup except ES trade. Actually I disciplined with my SL which is mounting my loss. Until I entered my SL on wrong price and the price blow with -50cents. I don't want to bail out and hoping mode = on.

I hate myself. Enough for the day. I think it's my lucky day making only a decent loss.

Afraid To Lose

I admit I want to have a freedom, out from a day job and be my own boss. After a while, I realized a trader's work is even harder, longer, and more difficult to do. Searching the suitable edge, roller coaster emotion and psychology, neverending hours learning the market, and so on. Where's the easy money?

If trader is similar with athlete, then there'll be a tireless practice, adding skills, and so on. An athlete without practice will lose their competitive edge. For me, trading don;t have to be like that. It's more like a business. Learn how to build the business and become profitable after run it. Like business, there's also up and down session. If my products weren't liked by market, then I have to find new product aka. new edge. Sometimes the new edge is just a modification of the existing one.

For example, my ES setup usually produce max 6 pts per trade. But after 1 week, there's only 4 pts max. With only adjusting the Profit Taking, I am back in business. Not so profitable, but I also can adjust the amount of contracts, or maybe creating ambush setup (entering position at much better price).

IMO traders work consists 2 big things:
1. Finding the edge, review, backtest, analyze and enhance. Creating rules that have the best odds and memorize it.
2. Trade the edge with rules applied

I think when trading especially for daytrader, there's no need to think at all. Follow the setup, follow the rules and after the end of days review it. Is it good? are there errors? etc. It's going back to the first job.
That's it, sound and simple. But evem the simplest thing and the soundest thing still difficult to make money.

Actually I already find my edges. Today it should produced more than 8pts ES, more than 40 cents Crude Oil. But mentally I wasn't prepared. I can't stand losing $500 in my account, which is my maximum drawdown per day. I am afraid. First attempt succeed, I quit for the day. It's not a good thing. Not consistent. I will full-trade when I am ready risking those amounts. The market will still be there long before and after I prepared.

My edges is not a 90% Winning Ratio. It's only slightly above 50%. And the drawdown will occur someday. All I can do right now is taking profit early which is increase the winning ratio to 70% and quit early.

Meanwhile, I will enhance the edges to become more profitable. I don't know how to, but I will do it.

Lazy To Trade

Not a good mood to trade. Pre-Market seemed lazy too. Scalp Oil and finish for the day. Waiting for Apartment money to enter and then I'm all back in shape.

This Is It..!!!!

I have sold my toxic asset. My Apartment. Funny things I bought asset that I cannot enjoy it yet. The apartment ready to use at Dec 2010. I have paid installment since Aug 2009 til April 2011. And when I wanted to sell it, it's so hard even the unit was sold out since Feb 2010. I don't know if I am lame on marketing it but there's no interested buyer at all. wtf!!! There's apartment building hysteria in my city. Lot of them. Every website offered 2nd or new apartment, none of the site looked for buying apartment. Not even one, none at all.

This is when I realized I was trapped on top of property booming. We already had business district boom, shopping centre boom, now apartment boom. My cousins bought a little kiosk long ago for investment, and there's noone to buy it. Even free-use it. Tragic...so I sold my apartment, with quite a big loss. I don't care. Too much supply, less or little demand. I advertised at the most famous newspaper and only have 5-6 calls per day. None of them potential.

Money is funny things. I gain some, lost more, gain some, lost more. This is it. June is my last day of my stupid trading. The vicious cycle ended this month. I am a profitable trader. My profit target :::: $5000 per month.

Done For The Week

No spirit for trading.

Full Of Error

Morning Session:
Minus 6 Ticks in 2 turns, missed a very good setup, managed to get par.

Noon Session:
Make mistakes, accidentaly double the position, entered the premature setup, quit for the day. s**t happened.

FOMC Battle

I was very strictly disciplined. A little discretion when market constipated, who doesn't? Matters of entry? Extremely disciplined! SL? Strict disciplined! PT? One lucky mistake again and one Trailing Stop.

I have never felt like a robot before till this day. Though the result weren't good. Maybe it's just the whipsawed choppy market.

Lesson I learned today. Actually yesterday's also but hey, I am merely human.
1. If there's a contrarian break, while stll having opposite position, get out immediately. enter the new signal given. I lost around 6 ticks because of it.
2. Exit the position before news release. It's gambling having a position. Also I may get painful slippage. I lost additional 10 ticks because of it.
3. Do not wait for the best price. Very slim chance I might get filled. 1 Tick worse is okay. It's like save $12.5 but lost $300 opportunity.
4. ES is bucket shop runned by HFT. I may stopped out when price went there just in milliseconds, but won't get filled even the price going there dozens of time if I have right direction. It's also because the Stop Command triggered. Can't blame it so much.

So actually if I didn;t make mistakes I will profit not losing...

Back after the FOMC result..

Not my Luck

Two 1st Trade has a good swing but not reached the PT. Fall on Par. Then two scratch and one full hit SL. 1 lucky mistakes and then missed 1 good entry.

Noon:
Two full hit Stop Loss and missed one excellent entry make a not lucky day today. I forgot the last SL is because contrarian signal. I should enter the newest signal and forgot the old signal.

Monday Result

This is my ES debut trade which is serious. I trade ES before and hate it because I was not looking depth into it. I am not saying I like it now but ES has a potential for a structured pattern. It's not easy but it's structured.


My trade is not based on the picture. I finished early today. Just adapted ES trading today and get a good valid setup. Best ES trading setup I took so far. Short the highest price after broke out Support and exit 1 tick above the low before price coming back above the initial entry.

My entry based on S/R breakout that I learned from somebody. So it's his copyrighted pattern. I don;t have rights to share it. But I have my own pattern like the picture above I'd like to share. In fact it's as good as the non-shareable pattern.

Bonus Post E-MINI Trading Setup

Price Action And Sentiment, the best combination of Day Trading

Price Action is a trade purely base on Price movement.
Sentiment is Market mood at the moment.

Divergence between Price Action and Sentiment is the powerful setup for Day Trading ES.

The logic behind this setup is:
When the price break the SR, there's only 2 things will happen, continue or bounce. If the price continue then there is a big chance for a pullback. The best setup is a pullback because we already know the market direction and avoid the first breakout that may become a fake breakout.

However, a pullback sometimes very tricky to catch because it may become a shallow pullback or a deep pullback or even reverse. So here's a sentiment may become in use, formed as TICK.



As you can see at the picture, after a Support Breakout, there will be a good pullback. Market already on bearish mode because of the breakout. However there's some bull that hoping a reversal may occur. The aggresive entering bull reflect at the increasing TICK. But it's also may become a reversal IF the Positive TICK is also on the Green Candle. We must look the Divergence where the Bull Enter but The Candle is Red, reflecting the winning of Bear. Because the market is still on Bear Mode (still below the Support Line), then the power of diving south is amplified by the runaway Bull selling their bet.

The Stop Loss is 1 or 2 ticks above the red candle. And the risk-rewar ratio is greater than 3:1. A very lucrative setup I must say :)

Another Valid Setup:

Rebuild The Trading Structure

I was up and down on my trading career. I always looking for the answer. Why is that happened? Here's some of my finding fact, and it's really really important.

1. Profit from Indiscipline
This is the worst trap for traders. At first you trade discipline and have profit. And of course there'll days when discipline won't pay. You start to wonder why the trading setup won't work anymore, break discipline a little and make profit! Break a little more and more profit!!! This was good, until time come and your indiscipline collect the accumulution of Indiscipline profit sometimes with interest!!!

Breaking the discipline is not just about careless entry but also early profit taking and of course let the losses run. There'll time when you regret not taking the profit and become losses. I experienced it all.

2. Having a Bias
Trade what I see is all I need to become a sucessful trader. Bias is a dangerous even if you're right most of the time. All I need is not having a bias but having experience. That's very different things.

Third weeks I made a vicious cycle again, so I will start trading something that I am not familiar with. It's to prevent me having a bias. It's ES!

I also will reduce my capital so I can only trade 2 contracts maximum. The ES journey will start on Monday. The next step is trading currency with mini lot but I have to find a new broker for that. Oanda is on my top list due to tight spread. I chose mini lot to make a bigger swing and avoid choppiness which I got on the last 5 market days with Currrency Futures.

So here I am, a new journey to ES trading, the most difficult but also the most liquid Futures Contract in the world.

Wish me luck, see you on Monday.

No Trade

Expiration Day...

Weekly Result:

The Secret Of Oil Trading

I came back and got vengeance with Oil. Let me share you a little dirty secret about oil. It's wild but structured. The best opportunity to trade oil is when these condition meet:
1. Oil is weaker or stornger than the market...the best is Market (S&P,DOW,etc) green and the market is red, like today.Vice versa
2. Looked for the previous low if market green or prev hi for market red.
3. CL tend to washout the stop loss below previous top/bottom then bounced following the market.

It's dirty I know, but we can profit from it, with very little risk, let's say 4 ticks risk for 40 ticks reward, I can live with that. My CL entry today is great. The exit, only half the top. It's a matter of time the Crude will take out the Monday's bottom @ 76.06. Be prepared...

End for today's trade. Man, I hate the 6B :( Anyone has the same problem? GBP/USD?

Night Battle Result

I hate 6B so much. The price seemed so unfair. Once I've got more than 10 ticks slipped. I closed the 6B chart, maybe forever.

Once again, Oil saved a little of my trading. Still having some loss, but reduced more than half. Continued on pit session...

I AM A DISCRETIONARY OIL SCALPER

Very discipline cost me big money on 6E and 6A. I am not saying not disciplined is wrong. But it's like having a bad omen. Busted out, disciplined, busted out again, frustating.

Today I must break the losing streak. I am not gaining much, but recovery from a $360++ loss is something good for me. Once again, CL saved me from the oblivion. It's not typical CL I like but hey, I am the one who must adapt. Not the market. So I turn on scalping mode on and I made small profit :) I am not realized I am not bad on discretion scalping. But it's just an emergency trade. I need very good motivation, focus, and lot of energy. Trading should be more relaxed.

Actually I wanted to long CL on bottom. But there's just 1x washed out. I waited for 2x washed out it won't happen.

Tomorrow will be battles again. I equiped a new weapon for Currency. It's a combination between Breakout Pattern, MACD Histogram, and MA crossover. Very deadly. Breakout is purely Price Action, MA Crossover confirm the trend, and MACD filtering the noise. I am not fully tested it yet. But it's good enough on 6A and 6E. And the good news is the SL is very slim. around 5 ticks only and the success rate for the last two days around 60%. I want to use it on FOREX and trading the mini. I am looking for honest broker with 1 pips spread for major currency. I don't mind playing commision if it's reasonable (costs half pips all round is reasonable enough).

I want to use OANDA but it used the browsers platform which is need forever to login.

Time for testing my new weapon. Have a profitable trade :)

Drawdown Mode : On

I was disciplend once. Then I took 4 6A contracts (!!!) and stopped out. I don't know what was I thinking?
Scalping CL to reduce the losses and that's it. CL is on choppy mode. I couldn't bear being stopped out dozens of time. I was quite good on scalping actually.

Time to minimize my size and refresh my setup.

The Longest Battle and Lost...

First I entered 6J with nice decent profit. Then the disaster happened:
I long 6J based on my setup and failed. Meanwhile I saw 6E making a rally. Then come an evil mind to fade it for a quick scalp. Of course I was crushed. Then the salvation.. Crude Oil. I short like crazy and the loss mounted. On the verge of losing my entire two weeks profit, all of sudden the CL diving fast. I was jaded and manage to exit near the first bottom. My loss reduced into only 1 day profit worth :)
Later I have this crazy idea, why don't short the bounce? CL have tendency to wash out the early bottom. I short like crazy again and my loss mounted, worth 3 days of trading. Damn!!
I waited and waited and got out most likely a very little profit. Call it a day. A losses once in a while good for my health. It kept me grounded again.

I called it a third week curse. I always have a bad third week, and it also happened last month. My pattern is like 2 weeks profit, one week wiped out my previous profit, and final week make a profit again.
I would like to broke the cursed. I was cursed by Expiration Week Witch :)

Ps : And The CL as I mentioned before washed out the previous bottom. I just don't have guts to take it.

STOP LOSE: TIGHT VS LOOSE

I am a tight SL follower. In many cases Tight SL may lose to Loose SL. Like today's result I waste $150 because of my tight SL policy ( exact 1 tick being stopped out )
But I prefer a tight SL policy with many reasons:
1. Protect me from uncomfortable feeling. If I had a big losses in 1 trade, I may tilted and stunned. Cannot concentrate. Sometimes moment later the price moved toward without me, which is make me even more frustrated.
2. Double backup. What happened if your SL slipped witihin let's say 10 ticks from yours? Adding more frustration and ruined the plan. If I had a Tight SL I may get out with a worse price but not very scary.

Quit my day. I forgot to checked the news schedule and I paid for it

World Cup Betting Tips

There are 3 Match in 1 day for the first 10 days. Here are the tips:
1. Bet every match, pick the most favorable team
2. If win in the 1st match, close the day
3. If not, double the 2nd match and so on
4. The point is taking 1 profit per day only and compound it

Statistically, there's no days where all of 3 match per day won by the underdog.
Here's the plan:

Bonus Trade And End of Week

This week is the lucky week. Booked 5 consequtive winning days, booked weekly goal in just 4 days, and having a nice clean trade at the last day.
So I presented here one of the most powerful price action entry I have ever found right here:



And here's the daily and weekly result. Actually It's less than that. I don't know where the hell the IB get the number.



I considerate to shut this week's trade. Anyone have question about the setup feel free to ask. Trade with your own risk :)

Feeling Bored

Finish 12 hours before market open make me tilt. I couldn't sleep but I have no guts to trade again. I knew how is going to happen with my mental statement.
-If I start the day with zero fresh start, and loss, I will keep trading till 2 things happen. Minimum daily profit reached or Shutdown mode reached.
-If in the process I already have profit, I will stop for the day. I'll never push my luck so far.
-I'll never forgive myself if I have an early profit and the profit decrease or even worse gone because I am trading again like an addicted gambler.

That's my mental statement. So after booking profit, I was bored to death and kept looking the JPY and GBP chart which are erratically whipsawed and chopped. I wonder how can I survive those two if I kept trading.

And btw, I already booked my weekly profit goal. Yesterday will be a strict day to trade. No messing around like the last let's see...THE FIRST DAY I TRADE! What a douche bag I am.

Luckily my money management still intact, but my trading setup is so poor. (I think I made less than 20% winning rate)

Lesson to learn. It seemed that money management is more important than your trading entry. I still think that cut loss short is the best way to trade. Even sometimes it's not rational. How come I lost more than 40 ticks while the Market only moved 20ticks?

Maybe I just get lucky :)

Finish Early...

Lucky :)

Wed Result and End of Days

Consistency since May 31st.
Only May 1st having a very little loss ($15). Overall average per day over $200.

Here's my method:

Start at 19.30 - 21.00 Asia Session with 4 currency waatch (EUR,JPY,GBP,AUD).
If I booked my goal, I quit for the day, if not:
03.00 - 05.00 for Europe Session
Last one,
09.00 - 12.00 US session

I scrapped my profit mainly from Currency. If I had a bad trade, my last resort will be Crude Oil.

*What if you have a bad day trading Currency and Oil? It's double whammy.
That's why I need a shutdown mode. Maximum drawdown per day divided by 2 trading mode. Currency and CL. Luckily I don't get into drawdown mode so far. Sometimes I just had loss on Currency but it's never reached the shutdown mode. It's just out of time and I still booked losses. Then the Oil Trade covered it all plus profit.

*Why don't taking all session including OIL?
Well, I love money, but I don't want to torture myself every day for money. Besides, there's no guarantee I will profit at night. I lived in Asia. US session is at night so I prefer the day session Asia and Europe.
However I may trade Oil on a very bearish day. Especially on its 10 days low.
Also I may trade Oil if I had a surplus above the daily target.

I admit the CL is the biggest contribution of my account. But its behaviour make my heart beat faster. And I hate soybean these days. Erratic movement and spiky.

The Safest Trading Method

Have you ever Stopped Out and the price turning and moved your way? Frustrating isn't it?
I experienced it dozens of time until I didn't remember it again. Have you ever regretted putting SL there? Even regretted Putting SL at all?

Now, the safest trading metod IMO is not a method that gives you 90% winning ratio but didn't define where you put your SL. The safest trading method is a method that have a tight SL preferably less than 1% of your account and lower winning ratio with minimum 2:1 Risk Reward Ratio.

Let me explain that:
Assuming you have a 90% winning method above. You made 9 winning trade each $1000. Now the last trade is a losing trade. Since it didn't define the SL, the losses you triggered : $5000. This is better. Lot of othe traders wiped out in just 1 losses after 9 winning.

Here I have 60% winning ratio. Every win I made $2000, every losses $1000. After 10 trades I made $8000.

You may say I will keep discipline and using a tight SL with the 1st method. Well, Rest assured since the SL exist, the winning rate may drop significantly.

Today's Result, not a good one...



I kept buying EUR and selling too soon. Then the CL goddes came. One Strike...BAM! 25 cents in 3 minutes made my day :) Fighting the EUR almost 5 hours -$95, Embrace the CL in just 3 minutes, +$250. What a job...!

REVERSAL PATTERN...CRUDE LIGHT

This things happened over and over again. I didn't trade it. But I applied it sometimes and it worked :)

...Monday

AUD chopped out severely. Time to improve my entry and exit. Luckily I got out early.

Weekend Thought About Trading

I believe every school in this world taught us most about exact science than abstract science. We learnt that 2+2 equal to 4. We learnt about pysics, chemistry, everything about the exact science. We also studied history of our nation, world, literature, art and everything that already happened.

So, what is that mean? Since childhood, our brain have been set by the living standard. Our subconscious mind are filled with absolute teaching. It became our habit to analyze something that already happened. Every event in this world seemed must have a reason. "The event...then why did that happened ?" struck every human mind and it's even heavier cause on smarter people. Sometimes some people become a "visionary". They are like a fortune teller with a bunch of argument, facts, and historical event. So if it's happening to you, it's not your fault. Our brain has been programmed to do that since the first time we have our education. We tend to analyze thing, making asumption and so on.

What it has to do with day trading? A LOT!!
As a day trading, WE MUST NOT ANALYZE THING FIRST THEN ACT. WE MUST ACT FIRST THEN NOT THINKING. We saw our chart doing something and started to thinking why it's happening. Well, after you draw a conclusion, the market already stopped moving. I've doing this mistakes many times. I acted like a smart people. Sometimes I did that until now. It's quite difficult to delete my "programming brain since I was 4 years old".

Some professors on famous university despises the day trading work as a loser career, an addicted gambler. Because they won't become a sucessfull daytrader. Their analytical skills prevent them to do that. Do you know why ex famous athelete tend to become a better trader, especially from the competitive sport? Because they used to act first analyze later.

So if your trading not having an improvement. It's not your fault. Maybe you have to get rid the programming brain of yours. And it'll take a lot of hard work....

MISSION ACCOMPLISHED!

$1000 target per week was breached. Have a nice weekend :)

Not very Good

I was bored to death waiting the market to move. Missed the 6A moves pissed me off.
Then 6E chop and jam in the middle of nowhere. Then I missed it.

I'll used my luck @ CL tonight.

Sulking To The Comfort Zone

I am not doing Oil Trade for quite a long time. I realized that my biggest profit came from Oil Trade. All of other instruments not even contribute half the monthly profit. I just reluctant trading Crude Oil because it may dragged me to $800-$1000 losses before give me total profit $500-$1000.

I walked the comfort way, not the most profit way. After mediocre profit for the last 5 days trading, I decided to trade Oil again. I never knew the outcome, but it's the fastest and riskiest instrument I've ever known.

Crude Oil...Here I come

$900 CRUDE OIL PATTERN REVEALED!

I didn't take the trade. I just pointed out that the reversal Pattern. It ROCKED!!
1. Market on the downtrend
2. Big Red Volume appeared
3. Wait for break below the Big Red Volume
4. After the break, wait for Green Candle
5. Entry 1 tick above the Green Candle
6. Harvest $900 profit per contract in around 50 minutes :)

Give and Take All Night Long

Ironic that my last discretionary entry is the best entry for this day. I could do averaging down and collect big profit rather than give and take. But Noone knows the Black Swan may come and the price shot through the sky.

Done for the day. Don't know if I wanna trade Soybean on US session.

I hate US Session These Days

I've waited from US open market and didn't find any valid signal. Chopped and chopped. It's worse than EUR and Asian session. I'll be dead if I kept entering every signal. Even with my filtration I still will get stopped out twice.

Every confirmation signal is a Big Candle that it'll be stupid to enter the breakout mode. It's like move, tilt...., reverse, move big, tilt...., reverse again

Today's GBP making a trending move. But I was too busy watching the others "Drying Paint" instrument.

Daily Routine of Full Time Day Trader

I lived in a developed country with GDP around US$3.200 per YEAR! Well that's a poor country I might say. I can live quite happy with US$1.000 per month. Here I am a full time day trader in a very cheap country. I used to be an employee with salary around $10.000 annually. Here from trading I am confidence I can make $20.000 annually if not more.

Wake Up at 06.00 am trading Futures at Asian and Australian Market, then sleep again.
Trading resumed at 02.00 pm and trade every Currency Futures available.
If I had enough profit, I won't trade the US session. No subordinate who stabbed on the back, No worrying about the boss, No deadline, No late working, No obligation for wake up early. What a life...



Done for the day. Actually the $150++ loss is technical fault. I forgot to cancel the entry.

I think I found my Holy Grail

Don't get me wrong. My Holy Grail is not a 100% right indicator. It's even less than 60% winning ratio. But I have full confidence that my Holy Grail will give me consistent profit in the long run. Here's the character of my Holy Grail:
1. Worked on every instrument. The indicator is not exclusive. It can be applied in futures, stocks, forex, or bonds.
2. Day Trading Indicator. Use it only for Day Trading
3. Price Action Method. No fundamental, or even technical analysis. Purely from Pure Action.
4. No Bias. Don't know, don't care where the market will go. As long as the indicator tell me to get in, I'm in.
5. EMA confirmation. Pure Action only will give me headache when market choppy. With EMA confirmation, I can filter and enter the strong signal only.
6. Price Breakout entry. Looking for price breakout. No fading, Not countertrend.
7. Very Tight Stop Loss. Between 4-10 ticks wide.

The advantage of my pattern is it had a very narrow stop loss, with unlimited profit potential. You may loss 5 times and still can profit with only a single winner. It's also reduce the false signal when market is choppy, volatile, or quiet. Rest assured the signal won't come out frequently on choppy market.
The disadvantage, I haven't figured out the Profit Taking Strategy. But hey, there's a lot of room to improve.

I also have a reliable counter trend pattern as I shared it on at my previous posts. But it's suitable for scalp profit only. Unfortunately I can't share the Holy Grail Pattern as it's consists lot of hard work, timeless backtesting, and dozens of trial error, also money. I must admit I bought the education package which consist the method. But it's already paid off. And I applied it in the raw form.

If you have the experience of finding the holy grail, please share the experience, I'd like to know the other's holy grail characteristic.

Have a good trade :)

Not A Green Result

I'd like to share the reversal pattern that came over and over again. Some of them just a pullback, some of them a deep retracement.

Decided to shut down and rehearsal my pattern again. Strangely being chopped out by EUR and missed the GBP pattern completely :(

But I must say most of the breakout pattern worked today. At least 10 ticks. I just didn't take it. Angry being stopped out by EUR multiple times.