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Sharp2be, eMini trading journal
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Sharp2be, eMini trading journal

  #11 (permalink)
Elite Member
Canada
 
Futures Experience: Advanced
Platform: NT, TS
Broker/Data: Amp
Favorite Futures: ES
 
sharp2be's Avatar
 
Posts: 57 since Sep 2009
Thanks: 1 given, 69 received


cclsys View Post
I find that 'having a bias' to be one of the hardest things to overcome. No matter how many times I tell myself not to have one, once it creeps in I often fail to notice it. When in 'the zone' this does not happen, so I have been working on ways to pay more attention to my own attitude throughout the trading sessions, most of which only last about an hour when things are working out.

Well done on the RIMM!

Now, you took a 5% loss on Friday. Is that part of the plan? It's steep, isn't it? It's days like that which were killing my results this year and because of which I am drilling down into money management versus entry methods.

I think you might want to add a column in there: for example you have Max Daily Loss at 236. Might be good to display what the actual loss was to visually show deviation from the plan. Also av trade loss. But that layout is really good and I will try to use something like it. Very helpful.

cclsys, absolutely, my loss was steep and have been beating myself over it all weekend. I was doing really well, 3 winning days in a row ! probably the cause of my big loss on Friday.

Yes, RIMM and my other stock trades saved my account big time but I don't want to use it as an excuse for my poor discipline.

I appreciate replies such as your as this was the main reason I started to write on this board, I cannot hide my mistakes and I've noticed that writing about my losing day was harder then the other days ( WHICH IS EXCELLENT ) !!

I like you suggestions to change my account balance summary and will make the changes... I'm using this new format because I see it more like a "guide" to me... I'm forced to check it every morning before the market opens...

I'm strongly considering not trading tomorrow because of my Friday's loss (sort of like a punishment) ... PLUS, my wife is having her first ultrasound which is great news !

Hope everyone had a great weekend.

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  #12 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
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sharp2be View Post
my loss was steep and have been beating myself over it all weekend.

No reason to abuse yourself.
As a man thinks in his heart... so he is.


It's just money...

Many things are much more important.

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
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  #13 (permalink)
Elite Member
Sydney, NS
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen-Fire
Favorite Futures: TF,S,GC
 
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Posts: 607 since Nov 2009
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sharp: I read someone somewhere who sounded very experienced that whenever he has three great days in a row, he takes a day off. And when he has three (or was it one?) lousy day like your Friday he also takes a day off. I think the point being that you have to keep emotions out of it.

I find that whenever I am taking a position personally, that is a very bad sign. Sometimes it's very straightforward, win or lose, and then sometimes it becomes a big deal - whether it's going in my favor or not. That is the emotional side of it that I am still working on, although right now since I had to stop for reasons beyond my control I am in pure analysis mode for at least one more month. Easy, but also doesn't have much to do with what really has to 'go down' in actual trading.

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  #14 (permalink)
Elite Member
Washington DC
 
Futures Experience: Intermediate
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Posts: 214 since Jun 2009
Thanks: 110 given, 115 received

Hi Sharp2be

One thing you can do that will help you is set a profit target. And when you hit that shut down your charts, and go do something else.

If you sit and watch, you will end up over trading and give it back as you have already seen. I found watching and not trading the single hardest thing to do. Solution, is shut down.

Pete

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  #15 (permalink)
Elite Member
Canada
 
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Platform: NT, TS
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Posts: 57 since Sep 2009
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November 23, 2009

Initial Balance $14,948
Ending Balance $15,807
Today +859
Week +859
Nov09
+807
Total
+807

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Given my excessive loss on Friday my plan today was to trade 1 es and a maximum loss for the day of $250 (60% of my normal daily loss). It worked quite well and I was able to recover from my Friday's losses and put my account $800 (5.4%) above my initial balance. Now, back on trade but a lot more careful this time after last Friday's big loss.

How did I score today?
1. Money management (C), traded well, kept my trade and daily limits.
2. Impulse trading (B), had no bias and followed my signals.
3. Trade execution (B), had a great trade in the morning and held it until it fade it...

Market review
ES started going strong overnight and opened with a very big spike. It then faded from 10:10am until the close... given the big spike at the opening I decided not to short. I had one long breakout trade around 2:45pm but it failed and it was a signal that the market would not lift for the day.

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Hope everyone had a good day.

Plan for tomorrow is to continue trading only 1 ES and going back to my maximum loss schedule.

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  #16 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
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I like that early long trade you got in on , I was sleeping lol . I got short near the major high / 930 - 1000 range around 1015 ish and managed to ride out most of it . I got long a little earlier than you in the PM and only got a little on one and BE on the other . Nice journal here , way to go getting back on the horse after getting slapped around the other day .

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  #17 (permalink)
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Eric j View Post
I like that early long trade you got in on , I was sleeping lol . I got short near the major high / 930 - 1000 range around 1015 ish and managed to ride out most of it . I got long a little earlier than you in the PM and only got a little on one and BE on the other . Nice journal here , way to go getting back on the horse after getting slapped around the other day .

Hey Eric, agree my first trade was a little early :-) ... couldn't really sleep but my trigger was the strong bounce from support. I closed it at 10:00am and entered on a wait-and-see mode but my system never triggered another long until late in the afternoon.

Cheers.

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  #18 (permalink)
Big game hunter
NY
 
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sharp2be View Post
Hey Eric, agree my first trade was a little early :-) ... couldn't really sleep but my trigger was the strong bounce from support. I closed it at 10:00am and entered on a wait-and-see mode but my system never triggered another long until late in the afternoon.

Cheers.

Thanks , I sometimes watch the european session on ES at 300 EST . The volume is tradeable and seems to me that its a good time for big guys to start moving things where they want them .

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  #19 (permalink)
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November 24, 2009

Initial Balance $15,807
Today -$428 or -2.7%
Ending Balance $15,378

Week +$430
Nov09
+$378
Total
+$378

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Today was quite difficult to trade for me, the market had some wild swings at the opening, bull gained control after 10am but we had very deep pullbacks during the day. At some point I was +3.5 pts and gave most of it back as I was hoping a continuation of the up move after 3:00pm... buying activity quickly fade on the first test of the last yesterday's high.
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How did I score today?
1. Money management (B), mostly a losing day but didn't achieve my daily loss limit - cool
2. Impulse trading (B), today required some large stops but I managed to keep them in check.
3. Trade execution (C), was letting my profits run and paid the price for it... had +3.5 in 2 cars and gave back most of it, leaving only .5 on profit...

Hope everyone had a great day.


Last edited by sharp2be; November 24th, 2009 at 06:33 PM.
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  #20 (permalink)
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Posts: 57 since Sep 2009
Thanks: 1 given, 69 received

November


Initial Balance $15,000
Ending Balance $15,603
Today +$225 or 1.5%
Tuesday -$428
Monday
+$859
Week +$655
Nov09
+$603
Since inception (Nov 17)
+$603 (4%)

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Overall a slow day for, +$225 is not very much but I am happy because I have been having more positive days than negative while learning how to trade the eMini.

One of the things I've noticed is that the action between 6:30am and 8:30am is prevailing during the day. Over the last two days the market has been pushing to the upside early in the morning and closing almost at the high of the day.


How did I score today?
1. Money management (B), kept my limits, stops, didn't exceed my daily loss limit.
2. Impulse trading (B), was comfortable trading today.
3. Trade execution (B), let my winners run but they didn't run that much !

Again, overall I'm happy with my results so far. My stock trades results have been superb but I promised I wouldn't mix them here :-) as my goal is to make money on the emil (solo).

Hope you had a good day.

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