Catching Big Waves - a trader's journal of surfing the the markets - Trading Journals | futures io social day trading
futures io futures trading


Catching Big Waves - a trader's journal of surfing the the markets
Updated: Views / Replies:278,656 / 4,686
Created: by GaryD Attachments:1,123

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 1,123  
 
Thread Tools Search this Thread
 

Catching Big Waves - a trader's journal of surfing the the markets

  #141 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received


gain247 View Post
Real nice job Gary! I like to see your analysis and entries even when my style is totally different. I take 10-15 tick scalps at 'local' reversal points but enjoy seeing you running for larger swings.


Thanks gain. Have you been able to make scalping work for you?

I see guys who do, was trained by a hard-core scalper, and I was nothing but a scalper for a long time. I have had days with over 300 RTs, but I never seemed to be able to get very far after commissions. I traded the ES and the TF and gold and crude, for 12, 15, 20, 22 ticks. I traded scalping for a 33 trading days in a row, with no less than $200 per day "profit", but the bottom line was not impressive for me.

For frequency of trade opportunities, its a lot more exciting, and when you backtest those high trade count strategies they look beautiful on paper, but my bottom line had serious fluctuations, and/or none, meaning I was working myself silly for nothing. It was like I was trying to make my way to profatibility by blunt force. Or maybe more like pecking it to death?

I finally decided my personality works better focusing on quality rather than quantity. I used to be a high roller in real estate developing, and I would look at 100 deals, do weeks of analysis, and then still pass. Everything had to line up before I put money into something, because having a project took time and effort, and there was risk and lack of liquidity. And years to get back out. Then I started trading and got hypnotized by the constant opportunities, extreme leverage potential, complete liquidity. But now I merged to experience of the two careers, and it works for me. Finally! What a tiring, frustrating journey though...

 
  #142 (permalink)
Survivor
Helsinki, Finland
 
Futures Experience: Advanced
Platform: NT8
Broker/Data: NTB
Favorite Futures: ES, CL
 
gain247's Avatar
 
Posts: 134 since Apr 2010
Thanks: 125 given, 122 received

My story is kinda opposite. After 2 'not-so-succesful' years of equity options trading I turned to futures 3 years ago and tried to learn better read the market. I felt indentifying those bigger trends & swings would better suit my personality, but interestingly it proved to be wrong for me (like it already was with options trading). I learned that my biggest challenge was 'thinking too much' so I always saw too many contradicting variables and started to second guess my analysis and hesitated to enter. So I started to focus more on market dynamics and price action to catch reversal points within smaller swings, and based on my couple years of learning curve I developed a mechanical method with simple rules to enter and exit the market. This all forced me to faster entries with very clear entry points so I didn't have time - or have to - think too much, I just focused on my rules. And when I say scalping I don't mean a LOT of trades, I just focus on smaller SL & TP. I also have a strict daily max loss limit & profit target so I never overtrade. My typical day is 5-10 trades with 1:1 RR and I solely trade Crude Oil. I avoid any news events or times when market seems to be out of sync for my method.

Having been ATW student myself 3 years back I actually noticed your name and found your journal here very interesting and now try to check it out daily to see where you see CL is going that day So thanks a lot Gary for a very informative journal!

 
  #143 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received



gain247 View Post
My story is kinda opposite. After 2 'not-so-succesful' years of equity options trading I turned to futures 3 years ago and tried to learn better read the market. I felt indentifying those bigger trends & swings would better suit my personality, but interestingly it proved to be wrong for me (like it already was with options trading). I learned that my biggest challenge was 'thinking too much' so I always saw too many contradicting variables and started to second guess my analysis and hesitated to enter. So I started to focus more on market dynamics and price action to catch reversal points within smaller swings, and based on my couple years of learning curve I developed a mechanical method with simple rules to enter and exit the market. This all forced me to faster entries with very clear entry points so I didn't have time - or have to - think too much, I just focused on my rules. And when I say scalping I don't mean a LOT of trades, I just focus on smaller SL & TP. I also have a strict daily max loss limit & profit target so I never overtrade. My typical day is 5-10 trades with 1:1 RR and I solely trade Crude Oil. I avoid any news events or times when market seems to be out of sync for my method.

Having been ATW student myself 3 years back I actually noticed your name and found your journal here very interesting and now try to check it out daily to see where you see CL is going that day So thanks a lot Gary for a very informative journal!


You are welcome. Thanks for the positive feedback, I am glad you enjoy it. I never know if I am just typing to myself or not, but I figure it could help someone trying to learn how to become profitiable, or maybe just to survive in trading, even if they read it a year from now.

Despite sometimes ridiculous time spent in charts, I try to never get too stuck in any trade direction bias. But, I have had times where, for example, the market could be crashing and meanwhile I just sit and watch because I am waiting for a long. What the analysis does more for me is cause me to have a plan. Here are two recent conflicting examples; Yesterday, I knew I wanted to go long, even with the trend down, because my experience says new shorts often get slaughtered, and EVERYONE knew the direction was down. That was MY edge, because I knew what I was looking for, what it looks like, what confirmation steps i need to see, etc. Today, however, I knew I only wanted to go short (based on higher trend), and had to sit on my hands until it ran out of steam.

Without a doubt, crude will go where it wants. Support and resistance should be renamed to not sound so solid. Maybe some term that suggests, "areas of somewhat higher probability where presumably larger numbers of traders could believe something might happen"...

 
  #144 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

Possible local double bottom formed at 79.70 in CL. If it breaks, I am looking for continuation (support is buyers, and they eventually can get used up). If it holds, I am looking for a long. But not touching this whipsaw market until after EIA.

 
  #145 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

The S&P is most likely going to have a heavy tie to crude. It will not necessarily effect the immediate EIA burst, but something to keep an eye on for overall direction.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

 
  #146 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

This is the crude oil daily chart This area is significant as a potential major double bottom, or major turning point.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

 
  #147 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

 
  #148 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

 
  #149 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

Closed at minus 7 ticks

 
  #150 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received


I am going back to the earlier comment that this area is significant. When it broke, it should have gone. When it couuldn't, that says something, so even though I had a stop loss wayy off of the trade, I knew that the market said I was wrong, and so why wait to prove it.

The following user says Thank You to GaryD for this post:

Closed Thread



futures io > > > Catching Big Waves - a trader's journal of surfing the the markets

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Surfing and Trading shodson Psychology and Money Management 14 September 28th, 2015 01:26 PM
Little League to the Big Leagues - Journal of a simple trader rtrade Elite Trading Journals 142 July 23rd, 2011 05:22 PM
Trader 11 Journal greggdd Trading Journals 15 March 18th, 2011 12:53 AM
New Beginnings: The Journal of a Trader's Journey to Equanimity plethora Trading Journals 122 March 5th, 2011 11:13 PM
Rookie Future Trader Alex's Trading Journal alex123 Elite Trading Journals 69 June 20th, 2010 04:14 AM


All times are GMT -4. The time now is 10:31 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.16 seconds with 20 queries on phoenix via your IP 54.90.92.204