Niko

Db, until today I had not been able to chat in the TL one. What i like about Stinto is that one can easily post a chart in order to comunicate an idea that sometimes takes too long to describe in words. Anyway, the main thing is that people participate, in that respect I think the TL chat has more chances to get a following, so I think I will close this one for the time being.

The problem with the chart still persist, I am having to upload the charts in the W forum and then copy the link here.

The numbers are all crazy because I also took some trades in GC and NQ, but as they were not part of the TIF analysis I wont post them here. The setup provided 7 entries during the trading session, I missed the one numbered 5, the rest were taken. As can be seen given the fact that we were on a downtrend, it did not favor the buys that yielded a net loss. The same can be said about surfing, if I had (traded from the extremes) shorted from the MP at 62, and cover part of the position at the S at 07, another contract at the S at 87 and the rest at the break of the Trendline (Red dotted line), I would have done much better. So will have to hone my skills much more.

We will start in 10 minutes. Given the current choppiness of oil we would also be discussing NQ, 6E and GC on the chat, lets wait I am not getting over my head. http://stinto.net/en/chat.htm;jsessionid=471AE45D2F4D4F86613F6D4D3FD56067?refId=sn6x5#

Thanks TL administrator, what you did worked.

Hehehe, I watch the oil chart this morning and remembered something that Db said about the fact that one is not there when the opportunity presents itself. The market finally found S at 07 and defined the expected HL, from then prices climbed to the top of the TR where sellers were waiting to dump their contracts (The fact that it was also the point of contact with the trendline is just coincidence). Right now we are still in the long term downtrend breaking the DL from the last upswing, perhaps looking for a short is not a bad idea, but one has to take into account that we are still in the chop so good trade management is paramount. Zoom in to last night action The appropriate entry was yesterday around 91, but I was not there to take advantage of it so I guess I am short of options: 1. Wait for the market to reach 07 again and see if sellers retreat or if they push further down. In the first case the course of action is a long after a HL and the break of DL, in the second case, I would need a LL after a Lower swing high. 2. Try to surf the chop, but experience has thought me that I am not ready for that kind of acrobatics. 3. If buyers provide S above 07, I guess the courses of action could be to wait for a REV at 91.17 or a BO.

Hehehe, I watch the oil chart this morning and remembered something that Db said about the fact that one is not there when the opportunity presents itself. The market finally found S at 07 and defined the expected HL, from then prices climbed to the top of the TR where sellers were waiting to dump their contracts (The fact that it was also the point of contact with the trendline is just coincidence). Right now we are still in the long term downtrend breaking the DL from the last upswing, perhaps looking for a short is not a bad idea, but one has to take into account that we are still in the chop so good trade management is paramount. The appropriate entry was yesterday around 91, but I was not there to take advantage of it so I guess I am short of options: 1. Wait for the market to reach 07 again and see if sellers retreat or if they push further down. In the first case the course of action is a long after a HL and the break of DL, in the second case, I would need a LL after a Lower swing high. 2. Try to surf the chop, but experience has thought me that I am not ready for that kind of acrobatics. 3. If buyers provide R above 07, I guess the courses of action could be to wait for a REV at 91.17 or a BO.

Thank you for all your help DB, I can only see the thumbnail sketch, although the chart is in the TL server. It must be a glitch that I am sure the administrator can fix in a second.

I think I am having the same chart problem that Tupapa has, does anyone know how to fix it. I mean, the fact that the charts require members to log in again to be able to see the picture.

Well, well, there is an audience. Thank you guys. Here is my first CSW recount (I did not trade like this, but this was what my plan would have told me to do). Today was a mess as we discussed with Tomer in the chat, we thought that yesterday was choppy, but that was because we did not know about today :haha:. In total there were 4 setups that showed up during the day, but only one that originated around a level of R identified in foresight: 1. As can be seen the day started with sellers hitting S three times at 27, then came the first HL, when prices finally broke above the LSH, buyers managed to reach the R area around 62. 2. There sellers were waiting and after a DT managed to break below the LSL, now that setup has not been tested therefore no entry would have been activated. After buyers defended the MP they were unable to make a HH or a DT, and the awaited LH appeared. As this was born around the R area, I think I would have taken this short in RT. Now given the fact that the entry would have been around the MP, I would have been subject to the chop that I have usually found around those levels. And the profit potential would have been very limited if not stopped out at a swing high. 3. Price found S again around 27, and buyers pushed for a HL this again was a failure. 4. I would possibly not take this trade: Too close to 12:00 when I close operations and still within the chop. Well at least this was not one of this days when I wept in desperation because the chop has taken away a big chunk of my account. :cheers:

For now, only words, that is why I said "one thinks that there is an audience", I like to imagine people read what I write in order to feel accountable to someone, trading is a very lonely endeavor as everybody who takes this seriously knows, even if you are in a trading desk full of people, when it comes to take a trade, you are on your own, and what I have learned so far is that when I am on my own I usually screw up :crap:. Anyhow, perhaps in the future there will be drinks and some treats.:haha:

I have found out that the fact that one feels the moral obligation to write just because one thinks that there is an audience, is enough incentive to develop the discipline required to write a journal, and I have also found that if one knows that someone is going to be reading what one trades one tends to be more responsible with the way one trades, in other words one feels compelled to follow the plan. That is why, and taking into account DbPhoenix suggestion (to whom I am extremely grateful) I will start posting the recount of the day´s action, as I trade it,starting tomorrow.

After back testing my setup, I will start forward testing it, for that reason I will post my TIF levels again: Here is today´s analysis on WTI Oil: We are still on a downtrend that has been making some stops at previous S/R levels. Today we are again within a TR between 90.07 and 91.17 after a strong push from buyers, such push can be seen in the form of the last upwave that broke the SL after prices found S at 89.46 (the MP of a previous TR from December). The strength of this upwave puts me in alert and on the look for a bullish confirmation that in this case would come in the way of a HL or a DB, in which case the plan would be a buy. If 90.62 hods as R that would mean the buyers could not overcome the MP of the TR which would mean weakness in which case a short below 89.46 would be the decision to take. Anyway, I will still surf the shorter waves within the day, and put extra weight for those that occur around predetermined S/R Levels. For those who have not been familiarized with my setup is a simple reversal setup: Break of S/D line HL/LH Break of LSH/LSL

We will start ar 8:30 today in case someone wants to discuss premarket analysis, as well as support and resistance levels for the day before the market opens and we all get dragged into the herd. We are still using the same chat client as I am not familiarized yet with the new shoutbox of TL where I will also be available today. Your Own Chat - Free & Easy! ? » stinto.net «

We will start in 15 min is someone is interested.

I think Perrin likes to think out loud, which is kinda fun to read. I like his posts, I guess I was not cut out to write like that, I have to keep it short out of lack of muse I guess. Note: The purpose of this thread was originally to discuss trading journals and logs as a necessary part of learning how to trade and improving one's performance and also to answer any questions one might have about the instructions for creating and maintaining the journal and log. I also wanted to provide a place for the occasional journal-type entry for those who didn't want to commit to a trading log in the Trading Log section. However, this has over 400 posts now, and I'm sure everyone understands what a journal and log are and how to create and maintain them. At this point, it has become just another redundant thread. Therefore, I'm closing it and encouraging people to open up logs in the Trading Log subforum. It's outside the Wyckoff Forum, but if at least several of you start maintaining logs like tupapa did long ago, you won't be lonely. Just make sure your log title is easily identifiable as belonging to you.

It really does not matter what you trade if you don't know how to trade. Now if i understand well you were trading futures live and were losing money, tha is normal for begginers, but the same thing will happen if you choose stocks, bonds, cfds and forex, the problem is not the instrumen,t is that you dont know how to do it ( you will know you have learned when you are consistently profitable and can follow a plan). The first thing I recomend is to write a plan, based in some form of market analysis, test it, ( without money on the line) if that works for a reasonable ammount of time, then commit a small amount of money to it and see if you can follow your plan when real money is on the line (the biggest problem by that time will be you mind telling you not to follow your plan), If you can make a profit with small commitments you will be able to start taking larger positions in the market with the same ammount of risk, the one you are comfortable with. By then you will not bother to ask what instrument to trade, as you will see they are mostly the same thing, buyers and sellers struggling to get control of the market.

A couple of thoughts on oil, gas and the bund, I can´t do gold because ninja´s charts are lacking some data. WTI Oil Natural Gas BUND Tupapa´s favorite. I will check out next week how well I did. Meanwhile, comments are welcome as always.

My pms also look like if they were posted on the chat. What is going on?

Perrin, It is 9 to 12 ny time. You dont have to be a Wyckoff trader to join the room, you can share whatever you see depending on your style. We will close early today, as the market has been so choppy during the morning, and there are better things to do than sit to watch concrete hardening. We will be back online monday at 9 ny time.

Sure you can find patterns in the one tick, it is not easy at first, but after enough screen time you start finding stuff. From my experience, be specific about what you look for, try to find that and other setups will emerge. My 2 cents.

Thanks to everybody who logged in the chat today. I hope more and more people join during the following weeks.

The room opens at 9:00 AM today.

Hi, I am going to start a Chat for those interested in trading oil intraday. The purpose of the chat is discussing about the ideas that come to mind while alone in front of the computer, so that one does not end up doing stupidities :haha:. No, for real, is just a place to talk about oil trading during the morning 9:00 to 12:00 VENDORS AND PEOPLE WHO DO NOT BEHAVE PROPERLY WILL BE BANNED Fundamentalist, technicians and quants are welcome. http://stinto.net/en/chat.htm;jsessionid=471AE45D2F4D4F86613F6D4D3FD56067?refId=sn6x5#

Perrin, Lots of writing, you really have a lot to say, sometimes I want to write like that on my journal but my muse never shows up. Don´t give you such a hard time for missing the exit, but if it was in your plan and you did not do it then you should ask yourself why are you not following your plan (if you have one), if you do not have a plan then don´t trade until you write one and once you do it, follow it verbatim. Regarding this: Why on the 4th. Where you sure that was the right entry, what was the setup, and do you know the probability of success of that setup?