Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Broker: Collect them all
Trading: Equities, Futures & Crypto
Posts: 50,284 since Jun 2009
Thanks: 32,819 given,
100,119
received
Hi guys,
Continuing in the tradition of encouraging journals on FIO, I am announcing a new Journal Challenge for February 2019.
The rules are extremely simple:
a) The contest begins February 1 and ends February 28. All decisions made by futures io are final.
b) This thread that you are reading right now will act as the repository for all journals that are entered into the contest.
c) The author of a journal can enter his/her futures io journal into the contest by posting a link to his/her journal in this thread. Only the author of the journal can do this. Please post the link to the journal ONE TIME, AND ONE TIME ONLY in this thread.
d) Members of futures io will cast their votes for the best journals by using the "Thanks" button on the post that the journal author has made in this very thread. This is why it is very important the author of the journal make only one post, because only one post will be used to count the total number of "Thanks Received" in this thread, and that is how the winners will be decided. Members can vote for as many separate journals as they want by following the same procedure.
e) There will be three prizes awarded, based on the highest number of "Thanks Received" per the above. 1st place @ $200 amazon gift card + 1-year subscription of Journalytix (valued @ $399), 2nd place @ $150 amazon gift card + 1-year subscription of Journalytix (valued @ $399), 3rd place @ $100 amazon gift card + 1-year subscription of Journalytix (valued @ $399).
f) As we increase the number of these events, we find the need to keep it fair for everyone - so you are only eligible to win a prize in this event if you have not won any other prize within the prior 3 events on futures io. Feel free to participate in the process, but know prize eligibility will be a deciding factor in the final award process.
Thank you to Journalytix / Jigsaw Trading for sponsoring this event. You can ask questions about their program here, and get answers directly from Pete, the Founder of Jigsaw Trading and Journalytix:
Peter Davies, Founder of Jigsaw Trading, will be monitoring this thread so that he may answer any questions that you post here relating to Jigsaw Trading products and services.
Please keep in mind that some customer service/technical support issues …
All participants of the Journal Challenge can request a free 30-day trial of Journalytix, make your request here in the thread so that Journalytix can reach out to you.
My goal with these contests is to encourage the journaling process, as I firmly believe the more you participate in the journal process, the better trader you will become.
In addition, for Elite Members, Jigsaw Trading / Journalytix has a special offer -- $40 discount off any Jigsaw Trading / Journalytix product, using this special link:
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Broker: Collect them all
Trading: Equities, Futures & Crypto
Posts: 50,284 since Jun 2009
Thanks: 32,819 given,
100,119
received
Reminder to all members:
All participants of the Journal Challenge can request a free 30-day trial of Journalytix, make your request here in the thread so that Journalytix can reach out to you.
Important: Serious Preparation, Forming Habits, Knowing Yourself = Trading Well
Enough dithering!!!
Its time to finally make a serious attempt at trading. Treating trading as a hobby has gone for too long. Its time to take this seriously enough …
The premise of my journal is very simple, so when I am again tossed into the uncertain waters of the raging markets here is what you can expect to find:
1. My actual trades in real time, thanks to the fantastic NinjaTrader plugins developed on this very site.
2. My 'no care' attitude towards money - Why I live frugally, without caring about money, and why I trade if not for money.
3. How I trade uncertain markets without adding the emotion of Hope. Why money management and my proper trade size allows for a 0 percent risk of ruin. Why Hope is different from expectation, why hope means that you want a winner because you are sick and tired of losing, why Hope comes up when the markets are one tick away from your stop. To put it ironically, I have No Hope!
4. How I manage Greed. It all happens when I start wanting more - it is an emotion stemming from deep insecurity. Why I impulse trade - its usuall when I think than others are doing better than I do and I don't want to miss out. Greed is often Fear with a mask.
5. How I handle my emotional disorientation on a daily basis. Why being emotionally disoriented is a result of silly objectives, and why being down to earth can prevent such hijacks. WHY STOPPING WORRYING ABOUT BEING RIGHT OR WRONG IS THE KEY. And how having modest expectations manage the account better than those 50 percent return per month you see on TV when there is no evidence that anyone can churn out that kind of statistic consistently.
6. How I manage fear. Secret tip: By CONFRONTING it before it becomes Fear with a capital F. By not letting it HIDE. By assuming that the trade you are in WILL LOSE before you hit the entry button!
7. Confronted with tough tests like TopStepTrader or OneUp Trader or the Gauntlet, I add to this negativity: I expect to lose not only the current trade, but I also park my imagination on the fact that my worst drawdown is about to begin. My longest losing chain of trades is starting this very moment, my winner is just a proverbial carrot before the dark forces in the market are about to unleash the maximum adversity on me - I remember the market's power and my puny account that I've to defend continually against its fury. That alone allows me to pass any combine, gauntlet or evaluation I willingly enter, instead of becoming a victim.
8. My trading life is basically managing pain successfully. Following the trend is misery, staying in chop is misery, losing is of course misery, but I will go far and say that even winning is misery, because it may go even further and you think about how much more you could have made. If you cannot accept pain as a daily continuous dose flowing from the chart to you as an interminable stream, stop reading now. If you are ready to become hurt, vulnerable and join me with the same numbness that I NEED TO MAKE happen (it does not automatically become habitual). If you simply learn that trading is nothing but conquering pain, and being paid to stay put though pain, then follow my journal.
And if you read this far, I am hoping you found some value, and perhaps you can lighten up my trading day and be a buddy by clicking the THANKS button right below this post?
My new journal reports a trading system that takes advantage of the morning weakness in the EURUSD. The functionality is explained quickly: As with my little-DAX strategy, this system uses the slope of a Daily SMA as a filter. If the filter condition is met, trading takes place 5 days a week at different times of the day, only short selling in the morning (GMT-time).
I'm trading my system in a real money account and I'm trying to document each trade and report each weekly and monthly summary.
Take a look and press the THANKS Button
Thank you,
OldGerman
The biggest risk you can ever take is not betting on yourself! (Bill Williams +)
The following 5 users say Thank You to OldGerman for this post:
I day trade RTY at thinkorswim. Im not a good trader. Im a classic weak hand and I scratch most of my trades. I am comfortable with my system and loathe to change. I see trading as a grind, that offers the same effort/earnings …
I had to show my face in an attempt to get free stuff in Battlestations!
