Joey's MP Journal

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Joey25

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Mar 30, 2005
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6th August Trade1

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

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Mar 30, 2005
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August 6th Trade 2 + End of Day

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

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Mar 30, 2005
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Levels for use 7th August

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

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Mar 30, 2005
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Numbers for use August 8th

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

Well-known member
Mar 30, 2005
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Trade 1 + End of Day

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

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Mar 30, 2005
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Results so far + thoughts

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.
 
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Joey25

Well-known member
Mar 30, 2005
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Weekly Pivot Points

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

Well-known member
Mar 30, 2005
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Levels List for use August 11th

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

Well-known member
Mar 30, 2005
872
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Pivot Point/Point of Control Confluence

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.
 

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Joey25

Well-known member
Mar 30, 2005
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11th August Trade1 + End of Day

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

Well-known member
Mar 30, 2005
872
236
53
Numbers for use August 12th

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)
 
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