Joey's MP Journal

This is a discussion on Joey's MP Journal within the Trading Journals forums, part of the Reception category; Additional Reistance at 1285.50. This is the VAH from the current overnight session. Chart attached....

Closed Thread
 
LinkBack Thread Tools Search this Thread
Old Aug 6, 2008, 3:27pm   #121
Joined Mar 2005
Overnight Value Area

Joey25 started this thread Additional Reistance at 1285.50.

This is the VAH from the current overnight session.

Chart attached.
Attached Thumbnails
6th-aug-overnight.jpg  
Joey25 is offline  
Old Aug 6, 2008, 7:36pm   #122
Joined Mar 2005
6th August Trade1

Joey25 started this thread Selling overnight VAH (1285.50)

Sold at 1284.75
Stop at 1287.75
Exit at 1281.25
Gross p/l = +3.50

Next level to focus on is 1289.75 (Weekly R1)
Joey25 is offline  
Old Aug 6, 2008, 10:12pm   #123
Joined Mar 2005
August 6th Trade 2 + End of Day

Joey25 started this thread Trade 2: Selling Weekly R1 (1289.75)

Sold at 1289.25
Stop at 1292.25
Exit at 1289.25
Gross p/l = 0

Got close to the target of 1285.25, but closed at breakeven at 15.00pm (I don't trade the last 15-minute bar)

Total for the day: +3.50 + 0.00 = +3.50
Joey25 is offline  
Old Aug 7, 2008, 10:53am   #124
Joined Mar 2005
Levels for use 7th August

Joey25 started this thread 1377.58 (Weekly R3)

1343.25 (Resistance)

1328.75 (Resistance)

1319.08 (Weekly R2)

1316.75 (Resistance)

1300.50 (Resistance)

1289.67 (Weekly R1)

1284.92 (Daily Pivot Point)

1275.50 (Support)

1260.58 (Weekly Pivot Point)


1231.17 (Weekly S1)

1202.08 (Weekly S2)

1143.58 (Weekly S3)
Joey25 is offline  
Old Aug 8, 2008, 10:16am   #125
Joined Mar 2005
Numbers for use August 8th

Joey25 started this thread Today sees the reintroduction of the Daily Point of Control into the levels list.

1377.58 (Weekly R3)

1343.25 (Resistance)

1328.75 (Resistance)

1319.08 (Weekly R2)

1316.75 (Resistance)

1300.50 (Resistance)

1289.67 (Weekly R1)

1278.75 (Daily Point of Control)

1273.50 (Daily Pivot Point)

1260.58 (Weekly Pivot Point)

1231.17 (Weekly S1)

1202.08 (Weekly S2)

1143.58 (Weekly S3)
Joey25 is offline  
Old Aug 8, 2008, 4:36pm   #126
Joined Mar 2005
Trade 1 + End of Day

Joey25 started this thread Daily Point of Control (1278.75)
Sold at 1278.00
Stop at 1281.25
Exit at 1281.25
Gross p/l = -3.25

Not a good result with the reintroduction of the Daily Point of Control, however it did indirectly bring home the importance of not cutting short the winners.

Despite this failing today, I should now be at a stage where I'll average 5 trades a week, which is my first priority. I think it's easier to commit capital to a trade if the chances are it will be the only trade of the day.
Joey25 is offline  
Old Aug 8, 2008, 5:22pm   #127
Joined Mar 2005
Results so far + thoughts

Joey25 started this thread I thought it would be worthwhile looking at the p/l so far, and put down some thoughts.

Week ending July 11th: +2.75
July 18th: +1.75
July 25th: -7.00
August 2nd: +1.75
August 9th: +0.25

Hidden within those results has been an upward trend in the size of the winners, but a decrease in the frequency of trading as I've trimmed the least effective strategies.

What has surprised me, and is only really noticeable through writing this journal, is how much the plan has changed. This is partly through learning from others, but also shows the lack of confidence I had in some of the setups (e.g the single print trades).

The entry strategies I now have are:

(1) Weekly Pivot Points
(2) Daily Pivot Point
(3) Daily Point of Control
(4) Historical Market Profile "New Beginnings"

I'm still using a short-only strategy, however I have dispensed with limit orders and instead use market orders and stops.

Stops and targets are mainly being driven by current market volatility. This should reduce the need to get too obsessed with a trailing methodology, but also calls for a more aggressive attitude.

Last edited by Joey25; Aug 8, 2008 at 5:43pm.
Joey25 is offline  
Thanks! The following members like this post: rathcoole_exile
Old Aug 9, 2008, 10:14am   #128
Joined Mar 2005
Weekly Pivot Points

Joey25 started this thread Weekly Pivot Points are as follows:

Weekly High = 1298.00
Weekly Low = 1246.25
Weekly Close = 1292.25

Weekly Pivot Point = 1278.83, Weekly Range = 51.75

WR3 = 1382.33

WR2 = 1330.58

WR1 = 1311.42

WPP = 1278.83

WS1 = 1259.67

WS2 = 1227.08

WS3 = 1175.33
Joey25 is offline  
Old Aug 9, 2008, 10:27am   #129
Joined Mar 2005
Levels List for use August 11th

Joey25 started this thread 1382.33 (Weekly R3)

1343.25 (Resistance)

1330.58 (Weekly R2)

1328.75 (Resistance)

1316.75 (Resistance)

1311.42 (Weekly R1)

1300.50 (Resistance)

1295.00 (Resistance)

1294.00 (Daily Point of Control)

1284.08 (Daily Pivot Point)

1278.83 (Weekly Pivot Point)


1259.67 (Weekly S1)

1227.08 (Weekly S2)

1175.33 (Weekly S3)
Joey25 is offline  
Old Aug 9, 2008, 10:35am   #130
Joined Mar 2005
Pivot Point/Point of Control Confluence

Joey25 started this thread I thought I'd post the following chart as it illustrates something which seems to occur quite often - confluence between a key Pivot level and a key Market Profile level.

In this case, yesterday the market blasted through Thursday's Point of Control of 1278.75(which I shorted and lost on), and didn't pause for a re-test.

Interestingly, this level is the Weekly Pivot Point for next week, meaning the first test of the Weekly Pivot Point will also be the first test of Thursday's Point of Control.

The chart also illustrates that sometimes the Point of Control is more like a "Region" of control spread over several prices.
Attached Thumbnails
pivotpoints-pointsofcontrol.jpg  
Joey25 is offline  
Old Aug 11, 2008, 5:34pm   #131
Joined Mar 2005
11th August Trade1 + End of Day

Joey25 started this thread Trade1 Resistance (1300.50)

Sold at 1299.75
Stop at 1302.25
Exit at 1302.25
Gross p/l = -2.50

No capacity for more trades, so also total for the day.
Joey25 is offline  
Old Aug 11, 2008, 7:06pm   #132
 
rathcoole_exile's Avatar
Joined Jun 2007
Quote:
Originally Posted by Joey25 View Post
Trade1 Resistance (1300.50)

Sold at 1299.75
Stop at 1302.25
Exit at 1302.25
Gross p/l = -2.50

No capacity for more trades, so also total for the day.

i had a Stop order to short at more or less the same price area (1298), luckily i didn't get triggered.
Now gone short at 1308 coming off the WR1
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline  
Old Aug 12, 2008, 6:22am   #133
 
rathcoole_exile's Avatar
Joined Jun 2007
got stopped out for -3

then went again a few minutes later 1308 to 1302 for +6
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline  
Old Aug 12, 2008, 11:46am   #134
Joined Mar 2005
Joey25 started this thread
Quote:
Originally Posted by rathcoole_exile View Post
got stopped out for -3

then went again a few minutes later 1308 to 1302 for +6
Yes, even if I'm out for the day, it's a confidence booster to see clear reactions off the levels.
Joey25 is offline  
Old Aug 12, 2008, 11:49am   #135
Joined Mar 2005
Numbers for use August 12th

Joey25 started this thread 1382.33 (Weekly R3)

1343.25 (Resistance)

1330.58 (Weekly R2)

1328.75 (Resistance)

1316.75 (Resistance)

1311.42 (Weekly R1)

1310.00 (Resistance)

1304.75 (Daily Point of Control)

1302.17 (Daily Pivot Point)

1278.83 (Weekly Pivot Point)


1259.67 (Weekly S1)

1227.08 (Weekly S2)

1175.33 (Weekly S3)
Joey25 is offline  
Closed Thread

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
say hello to my little journal gozinsky Trading Journals 13 Sep 27, 2011 10:37pm
LBranjord journal lbranjord Trading Journals 8 Jul 10, 2008 9:06pm
My forex Journal honasona Trading Journals 1 Jul 26, 2007 11:02pm
YM journal frugi Trading Journals 297 Mar 30, 2007 1:12am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)