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I woke up late (7am GMT-3) and lost some action. ToS and wifi today .
As I've said before, I almost always start my position immediately (with 1 or 2 contracts). The market is always flowing, it needs liquidity to do so, it doesn't give a sh!t about your drawings, indicators, analysis etc. When I'm bored while looking at the chart, I like to draw trend lines, support/resistence levels, regression channels etc. But it doesn't matter. Your brain is better (waaaay better) at capture everything at a glimpse (trust me, I'm a mathematician/data scientist )
As a liquidity provider, I'm never wrong. I may lose and win some money in the process, but it has nothing to do with being right or wrong. It's not a test, it's not a game.
You can see in the image below that I changed my mind and inverted my position (no, I didn't lose nothing, remember?). Looking now (after I closed my positions), it seems that, at some point, I was about $5000 negative (I really don't know 'cause I never look at my current balance during trades). The market was never "against" me.
It's difficult to explain my mental process. But it's fun to keep posting here!
Today I left some questions in the image below.
I really don't have answers for any of them.
Started trading futures in US this month (I used to manage an options portfolio at Tastyworks... too much work for a little profit... and it didn't fit my "personality").
Began with /ES (at TDA), but found it too "sluggish" for me.
Changed to /CL and it was love at first sight.
It has been too good to be true.
Let's see how things turn out.
I started trading futures (in the US) this month. Began with small positions for about 10/11 days (out of 17 trading days) to get used to the trading platform and market behavior.
I hate trading paper money, so I started off trading from my real account (75k), putting orders directly from DOM (never did that before). And, as expected, it was a disaster! But I got my lessons ("pain is you friend").
In the last 6/7 trading days I got enough confidence to put bigger positions.
Reminders for next month:
1. Stay with your 20 (/CL) contracts as "inventory limit";
2. Avoid "Iphone trading" while away from home (it's just stupid, dude);
3. Break rule number 2 (with 5 contracts or less) only if it's a scalp and the market is screaming: "I want to give you money!";
4. Stop trading at random hours just because you are bored (get a life!).
Thanks!
20 contracts needs 72k margin. I was at the limit. With a 100k account now I have some room to work with. My position sizing is based solely on what I feel at the moment. And 20 (200 bucks per tick) is perfect for me.
Fun trade at Sunday night. Open position at a wedding party and manage it while going back home. Closed it because it’s too late (of course the market went to my previous target as soon as I left the train).
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