Joey's MP Journal

This is a discussion on Joey's MP Journal within the Trading Journals forums, part of the Reception category; Trade 1 Sold at 1255.50 Stop at 1258.50 Tgt at 1252.75 Exit at 1254.00 Gross p/l = +1.50 Trade 2 ...

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Old Jul 8, 2008, 9:05pm   #25
Joined Mar 2005
End of Day 8th July

Joey25 started this thread Trade 1
Sold at 1255.50
Stop at 1258.50
Tgt at 1252.75
Exit at 1254.00
Gross p/l = +1.50

Trade 2
Sold at 1267.25
Stop at 1271.25
Tgt: Trailing stop
Exit at 1267.50
Gross p/l = -0.25

Total = +1.50 -0.25 = +1.25
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Old Jul 9, 2008, 10:49am   #26
Joined Mar 2005
EPU8 Value Area for use 9th July

Joey25 started this thread Value Area High = 1259.75

Point of Control = 1256.25

Value Area Low = 1247.75
Attached Files
File Type: xls 8th July.xls (48.0 KB, 171 views)

Last edited by Joey25; Jul 9, 2008 at 10:57am.
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Old Jul 9, 2008, 2:27pm   #27
Joined Mar 2005
Thoughts going into the open

Joey25 started this thread "Big picture" trade is:

Sell at 1279.25, with a stop at 1282.50, target: trailing stop

This is the intersection of the 2nd July Point of Control and the downward sloping trendline on the Daily bar chart.
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july-8th-setup.jpg  
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Old Jul 9, 2008, 7:32pm   #28
Joined Mar 2005
Potential scalp trade

Joey25 started this thread Potential trade:

Sell at 1267.25
Stop at 1271.00
Tgt at 1263.75

Entry is targeted at the mean of a small balance area that has formed since about 11.30 Chicago time.
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Old Jul 10, 2008, 4:24am   #29
 
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Joined Jun 2007
Joey, was this a limit order ?

judging by the time of your post you didn't get triggered ?

I had a similar order in, but a stop sell order :-)

went to bed, found out i'd made 4.5 points in a 20+ move......ah well......... :-(

if i'd been able to stay awake (i'd like to believe) that I may have kept a portion of the trade open and gone with the runner.

but it's interesting observing the role of weekly S1 in all this - I'm sure MP shows the same thing, but S1 was the exact point that Monday's price dropped to like a stone, it was the approximate point of the bounce on Tuesday, then the precise close yesterday

garry
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Old Jul 10, 2008, 5:29am   #30
 
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Joined Jul 2008
Hi Joey. I just wanted to say that I'm new to T2W. I've come here to look for some chatter with others who are profile trading and I found your journal. I've been a profile trader for quite a few years now and I look forward to chatting more and following your trading journal.

Best of luck to you.

Frank
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Old Jul 10, 2008, 9:09am   #31
Joined Mar 2005
Joey25 started this thread
Quote:
Originally Posted by fbutera101 View Post
Hi Joey. I just wanted to say that I'm new to T2W. I've come here to look for some chatter with others who are profile trading and I found your journal. I've been a profile trader for quite a few years now and I look forward to chatting more and following your trading journal.

Best of luck to you.

Frank
Thanks for making contact Frank. Any feedback more than welcome!

The specific pattern I'm struggling with is: you get a breakout from balance on the 30-minute chart and then a pullback, with a long set of single prints between the breakout point and the pullback point. There doesn't seem to be an easy place to put a stop, in that if the market can overcome the pullback point it tends to fill in the single prints quite easily.

What do you think? A vol stop perhaps? Just accept the trade has failed if the single prints start to get "gobbled up"?

I was left on the sidelines with my high volume trades yesterday which was very frustrating.

Cheers,
Joey

P.S I'm an experienced options trader and that's how I make my living, so this stuff is pretty new to me!

Last edited by Joey25; Jul 10, 2008 at 9:15am.
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Old Jul 10, 2008, 9:34am   #32
Joined Mar 2005
Joey25 started this thread
Quote:
Originally Posted by rathcoole_exile View Post
Joey, was this a limit order ?

judging by the time of your post you didn't get triggered ?

I had a similar order in, but a stop sell order :-)

went to bed, found out i'd made 4.5 points in a 20+ move......ah well......... :-(

if i'd been able to stay awake (i'd like to believe) that I may have kept a portion of the trade open and gone with the runner.

but it's interesting observing the role of weekly S1 in all this - I'm sure MP shows the same thing, but S1 was the exact point that Monday's price dropped to like a stone, it was the approximate point of the bounce on Tuesday, then the precise close yesterday

garry
Hi Garry,

I've been following your notes and the Point Of Control seems to often correspond to a classical pivot point.

Sadly, yes limit orders for both entries, missed the high of the day by 2 ticks.

Suffering a bit from paralysis from analysis at the moment and my methods make me look like a chimp if there's no retracement!

I like your stuff and I'm thinking of switching to Tradestation. Did the software manage the entire trade through to completion for you?

Cheers,
Joey
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