I have decided to start a new journal for 2014.

I want to start the year fresh and build on the things that I learned in 2013.

In 2014 my #1 goal is to become consistently profitable and move from sim to cash.

In 2014 I have to change the way I perceive my trading. I have to start thinking about it as a real job. As my future source of income. I have to think about the time spent as well spent, even though I am only sim trading. Now I often feel like I am wasting my time which leads me to rush things so I can go do some "real work". I have to think about my trading as a start up. Lot of time and money spent with no income in the hope of reaping the benefits later.

In 2014 I want to pass a TST combine giving me the choice to trade their money.

In 2014 my main focus will be 6E but since I will not always be able to trade in the mornings I might look at some other vehicle such as ES or CL which moves when it gets near dawn in the US.

In 2014 I am going to try to keep it simple. 1 or 2 indicators and a few lines. I want to trade small with a wide stop or big with a small stop depending on why I am taking the trade. It should be easier for my as a beginner to trade small with a wide stop so I should focus on that but keep the other possibility open.

In 2014 I ideally only want to take one trade a day. I will stop trading when my loss limit is hit or when my daily profit target is hit or exceeded.

In 2014 I want to be ambitious with my targets without being unrealistic.

Now for some G&T and a happy new year.

I am thinking about starting the year by taking a Combine with TST. By doing that I want to set a bench mark as to where I am at and have something to compare with at year end.

I have done and have been looking at the 50K Combine. The reason: I want to be able to trade a size that allows me to make meaningful profits.

This is funny because I am not a profitable trader. Shouldn't my goal be to make money first.

Also in my other 50K Combines I have rarely traded bigger size than 2 cars and when I am trading sim I also rarely trade bigger. Also when I will switch to my live account I will not trade bigger than 1-2 cars to begin with. I think therefore that the 30K Combine is a better fit for me. Max 3 cars and lower profit target.

So should I do the 10 or the 20 day Combine. Less pressure if I do the 20 day I think. So I guess that is the way to go.

I am writing my trading plan and hope to finish it this weekend. Trying to keep it as simple as possible.

My first day trading in 2014 and my first day in a new TST 30K 20 day Combine.

This morning I thought that we would be testing higher. We had been going down for 2 days but seemed to have found a temporary support when I looked at the 1 hour chart. The ideal trade today would be to enter short somewhere around 1.3620 - 1.3630 I think but since I have decided not to trade more than 2-3 hours per day and price was far away from that area when I came to the market this morning I wanted to look for longs.

Took 2 trades today and ended with 11 ticks total on 1 car traded. Net $127.5.

My problem today was to cut the trades to soon. I entered the first trade long @1.3584 and took profit @1.3594. Before I entered I was thinking about 1.3600 as my target and possibly 1.3612 (the VPOC from Friday). I did not however have the guts to hold on. Was afraid to give up what I had.

Second trade I entered long @1.3607 and wanted to target 1.3618-1.3620 (Pivot). I bailed for a tick when price stalled again @1.3612 (VPOC from Friday).

Both these trades would have reached their targets if I had held on. I got the general direction right though and ended the day in the green without much risk taken but my max MAE was 1 tick for each trade.

Did not trade yesterday in the Combine. Tested the CL after the US open on my Sim and cleared 30 ticks in 5 trades with 1 looser. Took 3 trades in the 6E US session for 7 ticks, 1 looser and 2 winner. I am testing an more mechanical entry method and will see how that goes but too soon to tell.

Took one trade today in the Combine. See charts below. I came in late and missed the good move in the early morning and probably the easier trade short. I took my trade long just before the noon doldrums in the 6E and had to sit out an hour of no direction while the Brits went to have their lunch and a pint. I more than once thought about exiting the trade since I was not happy with my entry and the time I entered but thought that since I only had 5 ticks risk on the trade and a decent reason to be long I would sit it out. As before I took less than what I could have but I also had a good reason to take my profits. I will hopefully get better at judging when to exit the trade.







So net result was 9 ticks (with MAE of 4 ticks) for $112.5 less $5 in commissions or $107.5.

First trade today:





I decided to re short since I thought that the Pivot and the 50% level were still in play before going higher and price seemed to stall at 1.3670-71.

I was however impatient and did not wait for the best opportunity to enter and got a worse price as a result and not nearly as good risk reward on my trade.

Second trade:




First trade was a loss of 3 ticks and the second a win of 16 ticks so net today 13 ticks less $10 in commissions or $152,5 on 1 lot traded.

Sat at the screen mostly waiting for an opportunity to get short near the Pivot and Y-Close when price gets pushed up and through yesterdays high and the high 2 days ago. Did not think that would happen so soon in the session but what do I know.

Fortunately I was waiting for an entry and was not already short.

I was thinking short because during Asia price got stuck under Y-Close and then fell below the Pivot. Yesterdays VPOC is at 1.3646 and S1 is at 1.3641. I thought that we would test that area and then move upwards.

I think I have missed the move of the morning session and will not trade the rest. The danger is I might try to force something that is not there.

Have taken one trade today. Where there better opportunities earlier? Yes, but because of family and work I have to take the time to trade when I get the chance. Meaning I might have to trade at times that are not ideal.

Also I have not posted for a while. I have only traded 2 days since my last post but both of those days where bad. Total loss near 35 ticks. But that is in the past and no need to post those trades here.

What I find the most difficult is how and when to exit my trades if they move in the green. This is my biggest challenge. Entering and exiting for a loss when my stop gets hit is not a problem but making the right decision after the trade moves in my favor is much more difficult.

Second trade today:

My biggest problem?! I am scared.

One trade today.