https://content.screencast.com/users/djc736120/folders/Snagit/media/9ce8d675-847e-4764-b024-66c75b4080de/12.09.2017-22.52.png

davidceccoli · 2017-12-10 04:02:58 UTC

I shorted this at 13:46 right where I put the rectangle. I took my 20 ticks and got out. As you can see the market continued
to go down but not before it made an up bar at 13:57 right at the right side of the rectangle. This is why I get out of my trades with small profits. I’ve seen too many $80-$100 profits turn into $100 losses and it’s frustrating. Is there anything in this chart that would have told any traders out there to stay in it because the market is going to make a bigger move? Try to p ut yourselves in my shoes in real time. Don’t look at anything past the down bar right before the up bar at 13:52.

mtroga · 2017-12-11 13:32:39 UTC

(Sidenote: you might consider creating a title for this post so that potential visitors can see what it’s about)
One thing that could help is Order Prints. It’s more of an advanced activity, but being able to read OP may give you enough clues about when to stay in.
Another thing is just trade management and your system for trailing stops. In this webinar John mentions different ways one might go about trailing. Lori does 2 contracts, and scalps one, allowing the other more room to run.
But more than that, I’d say paying attention to your context to help ensure proper entries is probably most important. What made you enter at that particular time? What system were you employing?
Note how volume looks to be below expected levels. Typically that alone should be a dealbreaker for entering a trade where you’re looking for big price movement. But that would be especially true when you’re needing to break through a level of importance. You entered heading right into a deviation level, which is right where it started chopping. Notice that elevator and the two bars around it lasted quite a long time.
If we draw a chop box that stretches from the swing level of the X bar, down to the swing level around 6355, you’ll notice the first time you get three ticks outside of that box is the bar that closes just above the +0.5dev. PP4 guidelines first mention that PP4 runs will almost always be after a fake breakout. But they also state that if your important level is just a few ticks away from what would normally be your PP4 entry (1-3 ticks outside of the chop box), then your entry should be 1-3 ticks beyond the level instead. It’s tough to tell from this picture, but that actually might have kept you out of the trade until after that pullback.
What system gave you that entry?

davidceccoli · 2017-12-13 16:02:18 UTC

I made money off this trade I think my profit was $100 but if I would have stayed in I would have made hundreds of dollars. Anymore I usually just grab a profit as soon as I can get it. But I’d rather not trade that way. When I stay in a trade I’ve seen it too many times where a $100 profit turns into a $100 loss. If your account is less than 10 K and you’re trading futures and your goal is 5% of your account that won’t sit well with you. At least it doesn’t with me and I have a strong tolerance for pain. I’ve sat on $300 and $400 losses. It’s not fun when you NEED to make money every day. I don’t do this for fun.

I don’t trade any of the APEX systems anymore. I use the APEX indicators to help me read the market but that’s it. I’m trying to develop my own style and system using the Apex indicators.

How are you doing? Are you able to trade for a living? I"m looking for a mentor who started trading futures with an account of less than 10K and now earns a living trading. I’m not sure it can be done with that size account but if you know of anyone out there I’d love to meet them.