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:278,921 / 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

  #2091 (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

Gary, it seems to me you are analyzing your approach and situation way too much. Maybe because you can. You have a great house (even if 'not the right one'), fantastic & supporting wife and enough money to take your time.

I had that situation 3 years ago. I though I could have time to 'do it right'. Well, fast forward to today, I wish I would have just done it instead of planning to to do it. I was focused way too much of 'doing it right'. Based on my own hard experience, there is no right way to do it, just doing it consistently day by day. Trading is about confidence in yourself, your method, your stamina. Have your plan and execute it. You risk your money to make better money. Don't blame yourself about not making one month, focus always on the next day. Believe in yourself!

Again, thanks for sharing your journey with rest of us

The following 4 users say Thank You to gain247 for this post:
 
  #2092 (permalink)
Elite Member
San Diego, Miami & On the lake (Summer)
 
Futures Experience: Advanced
Platform: Ensign, Ninja, Sierra, TradeStation & MT4
Broker/Data: CQG, TT & FinFX
Favorite Futures: indices/notes/currencies/ metals/energies
 
Posts: 368 since Oct 2009
Thanks: 143 given, 602 received

Hola guys,

My mentor used to smoke french cigarettes & had a daily cocaine habit.

Back then I had a daily drinking habit.

We were grown men and when we decided to get healthier each day we would admit we had a problem and we were made AWARE of it each day.

That is 50% of the battle because most traders won't come out the other side of the 'size' issue permanently.

Nearly all will permanently go back to their 'comfort' level.

Begin your day aware; review your day as if you already are trading size (after trading); end your day being aware and before you fall asleep imagine and play in your mind 'present tense' statements about trading size (be specific) and following your trading plan.

This is a process and it doesn't happen overnight. If it happens it is because you practiced with purpose. Those that don't never earn the right to trade size.

This is purely psychological and once the mind lets go of the constant feedback loop of $$$ and cents it is free to move to the next level.

peace

Hedvig


Last edited by researcher247; May 4th, 2012 at 10:03 AM.
The following 2 users say Thank You to researcher247 for this post:
 
  #2093 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received


Keep it slow and steady. Avoid making changes. You need to stay consistent long enough to be able to measure what is, and what is not, working for you.

It is natural to want to make a change when losing money. But you need to be trading small enough to not let the money get in the way of a proper testing and analysis phase (acquiring samples and analyzing results).

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #2094 (permalink)
Elite Member
San Diego, Miami & On the lake (Summer)
 
Futures Experience: Advanced
Platform: Ensign, Ninja, Sierra, TradeStation & MT4
Broker/Data: CQG, TT & FinFX
Favorite Futures: indices/notes/currencies/ metals/energies
 
Posts: 368 since Oct 2009
Thanks: 143 given, 602 received


researcher247 View Post
Call me ill-informed; however--methinks big money (institutions) are looking intermediate time frame at daily/weekly/monthly 200 m.a.

Those are all below 100 and into the high 96's.
----------
For daytrading that is fairly irrelevant.

Big swing traders are positioning themselves short more and more each day.

peace

Hedvig

-----------------
That post was from April 10th--seems like a lifetime ago for us daytraders, right? lol

Does anyone think the last several days of price action is random? I am just one person but I know a couple institutional guys that have a nice hit rate. They told me last month that they and other large traders were short 1/3rd to 1/2 and after (if) CL were to break the $100 level and they will go full size {more short} on pullbacks going into the next 3-6 months.

In laymen's terms they told me that in April they noticed an intermediate term (daily) shift in trend from up to down to lower/neutral. If a break of $100--then macro would tilt down as well. That monthly (long term) swing low above $95.00 could come into play in the next 10 trading days. Lower mid 90's would be something significant (s/r).

It is working so far. Swingtrading requires a different skill set than daytrading--I recommend it to round out one's
toolkit.

peace

Hedvig

The following user says Thank You to researcher247 for this post:
 
  #2095 (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
Gary, it seems to me you are analyzing your approach and situation way too much. Maybe because you can. You have a great house (even if 'not the right one'), fantastic & supporting wife and enough money to take your time.

I had that situation 3 years ago. I though I could have time to 'do it right'. Well, fast forward to today, I wish I would have just done it instead of planning to to do it. I was focused way too much of 'doing it right'. Based on my own hard experience, there is no right way to do it, just doing it consistently day by day. Trading is about confidence in yourself, your method, your stamina. Have your plan and execute it. You risk your money to make better money. Don't blame yourself about not making one month, focus always on the next day. Believe in yourself!

Again, thanks for sharing your journey with rest of us


The house I am in now is another listed for "short sale", just a temporary parking place. Long history in this house, and now, though my name is on the title, not really mine.

The wife, absolutely. She is actually starting to come around and have constructive conversations with me about trading issues. When I started, she was against it, but now is understanding it is a path I need to take, and accepts me in it. (Her best friend is actually starting to ask if I will trade for her too some day.)

I am not giving up on the size increase, just re-grouping. I used to watch tops in the ES, and always took the long expecting a breakout on the 3rd approach. Sometimes it just needs time to eat away at resistance, until that same element becomes the fuel for the push higher. This was my first push against resistance, I will back off, then make another run soon.



researcher247 View Post
Hola guys,

My mentor used to smoke french cigarettes & had a daily cocaine habit.

Back then I had a daily drinking habit.

We were grown men and when we decided to get healthier each day we would admit we had a problem and we were made AWARE of it each day.

That is 50% of the battle because most traders won't come out the other side of the 'size' issue permanently.

Nearly all will permanently go back to their 'comfort' level.

Begin your day aware; review your day as if you already are trading size (after trading); end your day being aware and before you fall asleep imagine and play in your mind 'present tense' statements about trading size (be specific) and following your trading plan.

This is a process and it doesn't happen overnight. If it happens it is because you practiced with purpose. Those that don't never earn the right to trade size.

This is purely psychological and once the mind lets go of the constant feedback loop of $$$ and cents it is free to move to the next level.

peace

Hedvig


I agree with the analogy, and really am content with myself in seeing what I am doing. It sounds like a minor victory, but to me it is major. I added ChartNotes last night to a couple charts, shown at the top left.

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



If I can just get through this level, I really don't think the next step up will be as difficult. Today I traded 1-2 and finished up 120 ticks. Had I been at 2-4 I would be back to breakeven. While that is somewhat annoying in hindsight, I did not want to push on a Friday, after all the psychological drama I have put myself through.



Big Mike View Post
Keep it slow and steady. Avoid making changes. You need to stay consistent long enough to be able to measure what is, and what is not, working for you.

It is natural to want to make a change when losing money. But you need to be trading small enough to not let the money get in the way of a proper testing and analysis phase (acquiring samples and analyzing results).

Mike


I am not changing any charts or indicators, I am adjusting my approach to using them some, but more limiting than anything. Removed a couple setups from my list as I feel they are not worth it, for example. I do keep track of what is working and not, and the "not" is what I am eliminating. Some of the trades I take are just a waste of time when it nets out.




Thanks guys. I'll make it past this. The fact that I can size up and stay basically flat is actually comforting. The issues I am having are things I pay close attention to and visualize myself trading without them. I really believe that just seeing the problem is more than half the battle.

If May goes well, I will make another push in June. I am expecting that right now. I've made it this far, too close to give up now.


Last edited by GaryD; May 5th, 2012 at 12:11 AM. Reason: typos
The following user says Thank You to GaryD for this post:
 
  #2096 (permalink)
Elite Member
San Diego, Miami & On the lake (Summer)
 
Futures Experience: Advanced
Platform: Ensign, Ninja, Sierra, TradeStation & MT4
Broker/Data: CQG, TT & FinFX
Favorite Futures: indices/notes/currencies/ metals/energies
 
Posts: 368 since Oct 2009
Thanks: 143 given, 602 received

Gary,

Yep. I heard a rumor that CL will be trading in June. And a trader can trade more than 2 contracts at a time if desired. So you have that covered! : )

Oh yea--you are in your early 40's; I suppose you have some more trading years in ya. Nice analogy of 'resistance' in trading size.

Frankly, if you weren't struggling with a size increase you would be a special snowflake. Most of us guys are just grinding out our edge with relentless repetitive and rigorous discipline.

peace

Hedvig

The following user says Thank You to researcher247 for this post:
 
  #2097 (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).

The following user says Thank You to GaryD for this post:
 
  #2098 (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 watched several hours of videos from Mark Cook, Larry Williams and others this weekend. Something I had not really focused on before when learning about well-known traders was the percentage drawdowns they discussed as being expected. Mark Cook's max down for the month (at the time of the video) was 15%, and for the year, 45%. "Greater risk, greater reward" was a comment he made. 45% is not a drawdown I am willing to experience today, but some of that thought process was helpful in putting my issues with sizing up into perspective. If I want greater rewards (profits of increased trade size), I have to be in acceptance of the greater risk (financial relevance).

The following user says Thank You to GaryD for this post:
 
  #2099 (permalink)
Banned: User asked to be banned
Calgary, Canada
 
Futures Experience: Intermediate
Platform: Multiple
Broker/Data: Multiple
Favorite Futures: Multiple
 
Deucalion's Avatar
 
Posts: 430 since Aug 2009
Thanks: 103 given, 1,207 received


researcher247 View Post
-----------------
That post was from April 10th--seems like a lifetime ago for us daytraders, right? lol

Does anyone think the last several days of price action is random?
peace

Hedvig

Seems you have a point there Hedvig!



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

The following user says Thank You to Deucalion for this post:
 
  #2100 (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



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


What a beautiful bounce out of support. I watched it, but can't trade overnight volume with very much confidence.

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


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)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

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 06:07 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 2017-12-14 in 0.18 seconds with 20 queries on phoenix via your IP 54.160.245.121