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Niko

Niko´s Log

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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.

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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:

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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:.

 

attachment.php?attachmentid=35170&stc=1&d=1362529685

 

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:

clapr13-m1-windsor-brokers-ltd.thumb.png.d6759fbc4b49aca4fd36afcf353a12c8.png

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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.

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I can't help directly bec I don't have moderator privileges here. Tell me step by step how you do it.

 

Or contact this guy: edgararakelyan. His log is just below. Whatever he's doing works.

 

My edit window is still open. Can you see a thumbnail sketch or just the link?

Edited by DbPhoenix

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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.

 

Hey Niko, I can't see the image you just posted, same as with my own blog.. Does anybody know how to solve this? I have asked the moderators several times but they aren't doing much about it..

 

Look forward to following your progress.

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Hey Niko, I can't see the image you just posted, same as with my own blog.. Does anybody know how to solve this? I have asked the moderators several times but they aren't doing much about it..

 

Look forward to following your progress.

 

I'll try again. If it can't be fixed by the end of the day, I see no reason why the Wyckoff Forum can't host the logs for WF members. At least I'll be able to help with the posting and editing.

Edited by DbPhoenix

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I'll try again. If it can't be fixed by the end of the day, I see no reason why the Wyckoff Forum can't host the logs for WF members. At least I'll be able to help with the posting and editing.

 

Thanks, maybe this is the best option.

 

The main reason for having a log, in my case, is having all my data and images accessible from any computer at any time. Having to enter my username and password every time I wanna view an image is frustrating to say the least..

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I can't help directly bec I don't have moderator privileges here. Tell me step by step how you do it.

 

Or contact this guy: edgararakelyan. His log is just below. Whatever he's doing works.

 

My edit window is still open. Can you see a thumbnail sketch or just the link?

 

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.

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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.

 

attachment.php?attachmentid=35180&stc=1&d=1362577344

 

Zoom in to last night action

 

attachment.php?attachmentid=35181&stc=1&d=1362577344

 

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.

Edited by Niko

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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.

 

If you can see the thumbnail sketch and not just the link, click the sketch. This should open the image into a new tab. Then right-click Copy Image and paste it back to your post. Then you can close the intermediating tab.

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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.

 

attachment.php?attachmentid=35181&stc=1&d=1362589043

 

 

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.

5aa711c55b2c1_CL04-13(5Range)06_03_2013.thumb.jpg.eca4877056047e23a2eb4288461df058.jpg

Edited by Niko

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Had some technical difficulties for posting earlier.

 

attachment.php?attachmentid=35220&stc=1&d=1362664563

 

Here are my levels for this morning. We are at the open at an important level at the top of a the TR (91.17). So far sellers are stopping buyers form advancing above R, lets see if they can hold it and provide a good short.

 

Or perhaps the fact that the trendline was broken give buyers a reason to feel more confident and break above R and taking prices to higher levels.

 

Plans:

 

Buy the BO of the TR or Sell the REV.

5aa711c67960f_CL04-13(32Range)07_03_2013.thumb.jpg.5e6fa766e776e8c919ddf413b25c6c14.jpg

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Today the setup provided 11 entries, if one eliminates those that did not meet all the criteria then one would only take into account 7 of them (the green ones):

 

attachment.php?attachmentid=35227&stc=1&d=1362674624

 

Remember that the criteria is:

 

Buy: Break of SL+HL+ Break of LSH around a predetermined level of S/R.

Sell: Break of DL +LH +Break of LSL around a predetermined level of S/R

 

Trades in Red did not meet at least one of the criteria.

 

The net result was 24 ticks, add two ticks of slippage and you are at Break even. for the day :(

5aa711c6aea5c_CL04-13(5Range)07_03_2013.thumb.jpg.6326aca8e7d1a22012756c90548c6304.jpg

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