Day Trading Journal

Hi All,

I am a day trader and focus mainly on the eminis. I trade the ES and NQ using price action.

I go into every day with support and resistance levels predefined and trade pull backs in a trend until we reach one of these levels at which point I will watch to see how price reacts to the level and trade it accordingly.

I don't hold my trades over night and rarely will I be in a position for more than a few minutes. I tend to jump in to take 4-6 points from the market and jump back out again.

My hard stops are usually between 2-3 points although I am usually happy to take the position off early if I feel my edge has gone and the market isn't likely to pay me. When I enter a position I am entering because I believe the market is going to shoot off in my direction. If it doesn't do this then my setup is invalidated and I get out and look for a re-entry.

I also move my stop to be once the price has moved 1-2 points in my favour as again I am entering setups that I expect to move there and then, if they don't then there is something wrong and I'd rather not take a punt.

I won't be posting trades as they happen as I literally do not have the time to do that, but I will be posting end of day stuff... probably just a screen shot with some annotations.

It is the end of the week now so I will begin posting charts next week. We can just use this time to get to know each other

I invite anyone to contribute and participate.

Nexas

3.25 points on the NQ so far this morning.

But now need it to break out of this range and show me some momentum...

oops just gave 2.25 back...

now only 1 point up on the day

Just got 3 points back... this market is annoying at the moment, I think I will leave it for a few hours...

Total 4 points for the day

Finished the day with +2.75 points... enough for me I think, off to watch the England game now...

The first questions that I should like to ask are

Have you been trading long?

Is to-days profit typical, as you seemed quite satisfied with it?

OK so I thought I was done, went to get the goodies for the game, came back saw some momentum, took one trade, lost... took the second and made some.

Todays total is 4 points.

I have been trading for nearly 7 years now.

It wasn't that I was happy or unhappy with the profit, it was more to do with the fact that the markets had been frustrating today. No real direction.

But regarding typical profits, generally I like to be somewhere around 5 points give or take. Although as you probably know this is impossible to do every day, so that is more of an average. Some will be less, some will be a loss and some will be considerably more.

How about yourself? What do you trade? and have you been trading long?

Last trade of the night netted 0.5 point bringing the days total to +4.5.

As its a holiday in the US today I won't be trading...

mmmm... what to do, what to do...

Nice journal, i've not been online much recent due to work commitments

But hope to be back on more, nice journal

Hi Doomberg,

Thanks for your comments!

It's a place for me to come and brain dump I am not sure if it is going to be of much use to anyone directly but perhaps indirectly as time goes on people will find something of value.

Have a good day.

Nexas

Well... I decide to take the day off and I see a perfect setup at the ideal time that I missed... well ha ho.... what can you do... there will of course be more out there.

Just in case anyone is wondering what I mean by perfect time... Generally I like the first hour or so and then the last hour or so... I am not sure if it is scientifically proven but it just feels to me like you get better moves at these times tham during the middle portion of the day...

Anyone else find that?

Can you say sideways...

Wow what a boring day... in the markets. My bread and butter setups just didn't present themselves today... So I ended the day with a big fat ZERO...

Although... zero is a whole heap better than being in the red due to impatience and stupidity...

Nexas said:

Hi Doomberg,

Thanks for your comments!

It's a place for me to come and brain dump I am not sure if it is going to be of much use to anyone directly but perhaps indirectly as time goes on people will find something of value.

Have a good day.

Nexas

Click to expand...

You're very welcome, and these type of journals are always of use to people

I'll keep popping in as this certainly looks interesting, i can't day trade properly right now and maybe for another few weeks due to some busy work stuff, but i'll be back with full vengeance soon :cheesy:

Excellent! I look forward to you bringing it to the markets

But do me one favour... if you are coming in size let me know and don't fade me ;-)

Well since ai started this journal the markets have been a little dull ... I managed to get a few points last week but spent most of it sat on the side...

Lets see if anything heats up this week...

Hi Zutou,

Welcome

I have been a little lazy the past few days... it seemed as though I was speaking to myself... and you know what they say about the first signs of madness