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:278,857 / 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

  #2131 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 719 since Oct 2011
Thanks: 625 given, 2,445 received


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




Today I ended the trading day somewhat upset with the market. Not that I had a bad day, but that my plans felt robbed from me by market timing. I had a plan to short CL if it broke below the yellow zone at around 95.25, but it did it overnight, so I woke up not knowing where to enter to have a reasonable stop. I did not want to buy CL, as it had just proven to be bearish in my opinion.

Then, I waited all day for a pullback to resistance, only to see it come right into the 2:30pm time window, thereby excluding me from the trade, again... and then fell off 100 ticks or so...


So, I have about 12 hours into this trade setup so far, and no acceptable trade by my time rules. If I sold by sellstop and let it go overnight, I would have had a great trade. If I sold by sell limit in the resistance zone, same thing. But I enter while volume is good and I can watch it, and that cost me today. But I was not about to short that freight train into the pit close, and was not interested in leaving a sellstop overnight with no one to watch my internet connectio, so my own rules kept me out of trades that I would have loved to have taken. And now price is in no-man's land, where would I even place a stop? 95.15 with an entry at 94.20? Not my style. I am dead in the water, and typing it out to blow off steam that has just hung out since the close.

My start of a swing trade campaign is tuck in the mud, and I am sitting here wondering if this timing issue was planned, and if they worked price action specifically to keep me out of the market...

Being silly.

So whiny, as if I expect trades to be delivered to me. But that does not change the fact that it bothered me today, still does. I got up and walked around several times throughout the day just to keep my hands off the mouse, very frustrated, and need to watch myself tomorrow for potential revenge issues related to missing out. I might try to make the money I "missed", and that is not a good setup.

Just took a few deep breaths as I think through this, and trying to internalize my own instructions. TODAY IS OVER.

I have been reading your journal for a while and I am puzzled why you are making big changes to your style. It seems you have had many consistent weeks in the past averaging well over 50 ticks a week..often over a 100..unless I am mistaken. If someone can consistently make over 50 ticks a week and can work themselves up to decent leverage...they will make serious money. That comes out to 10 ticks a day.. Can't you average 10 ticks a day with your previous style? Why become a swing trader ? Are you really able to predict world events ? Why would you consider holding a position overnight given all the instability in the global economy. Anything could happen. You seemed to me to be on the right track. Also..speaking of today.. why let yourself have such a strong bias on the direction. You said you missed some trades because you were expecting certain things to happen. Since when does "Predicting" have any bearing on Day trading. Your supposed to respond to what the immediate market conditions are. You have already proven to be great at that. It seems to me you should be reviewing all the things you were consistently doing right instead of making radical changes. Yes, some psychological issues arose when you tried to increase your position size....but your overall system seemed to be a winner. I hope you don't take offense to my comments....I just would hate to see you abandon what appeared to be a winning CL trading system.

The following user says Thank You to lancelottrader for this post:
 
  #2132 (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


lancelottrader View Post
I have been reading your journal for a while and I am puzzled why you are making big changes to your style. It seems you have had many consistent weeks in the past averaging well over 50 ticks a week..often over a 100..unless I am mistaken. If someone can consistently make over 50 ticks a week and can work themselves up to decent leverage...they will make serious money. That comes out to 10 ticks a day.. Can't you average 10 ticks a day with your previous style? Why become a swing trader ? Are you really able to predict world events ? Why would you consider holding a position overnight given all the instability in the global economy. Anything could happen. You seemed to me to be on the right track. Also..speaking of today.. why let yourself have such a strong bias on the direction. You said you missed some trades because you were expecting certain things to happen. Since when does "Predicting" have any bearing on Day trading. Your supposed to respond to what the immediate market conditions are. You have already proven to be great at that. It seems to me you should be reviewing all the things you were consistently doing right instead of making radical changes. Yes, some psychological issues arose when you tried to increase your position size....but your overall system seemed to be a winner. I hope you don't take offense to my comments....I just would hate to see you abandon what appeared to be a winning CL trading system.

You have an interetsing point, and I'm going to just allow myself to run with this, sitting here with my third beer for the evening...

Somehow I may have missed what you just said, believing that larger size requires something different than what I have been doing?

For years now I have obsessed over spotting larger moves, like 200-500-1000 ticks, believeing it would give me an edge on trading. What I did with it though, was to feel like believing in the correct direction, but only to use that as a background to base smaller trades off of. And it started to work quite well for me.

I would guess my average trade is 15 ticks over a years time, but I occasionally hit up to 50-60, on a rare occasion 100+, but those are very rare and very far between. But for some reason I keep in the back of my mind that those are the trades I would prefer to take, offering the best R/R by far, and seeming to sit better with my personal logic. But not my personal experience?

So what I have done, is learn to profit by being quick, nimble, flexible, and then decided to step up... but believing that required better R/R, and looking to magically change my average trade size... ??

I believe that is exactly what I did. I have had so many trades go 10, 12, 15 ticks in my favor at 4 contracts strong, and then close at +3 for example, when if I were trading 1 contract I might bank the 12 and then wait for another bite.

What changed for me, was 1 contract at a time I was willing to be aggressive, change my stance often, lock in profits quickly, not care what the outcome was sometime if I thought the conditions were favorable. But step up the size and I morphed into a position trader? That was a question to myself...

Perhaps the trader I am and the trader I want to be, which I think I have blown out across these pages somewhere months before, is the root of the issue with my increase in size. "I am finally ready" carries with it the belief that I am now a different trader than I am? I am embarrassing myself possibly here, but I am just typing truth...

I was working through an issue months back about how I would do all this chart analysis and then have it come to fruition, but not have taken the trade for what it was worth, and that bothered me. Still bothers me.

The risk to reward that is offered by some of these swings is phenomenal. But have I really made a lot of money at that? No.

I have made money by being ready for anything, and being quick to accept that I was right. Why does size change that? It should be no different.

Sitting here with a 93 mnute chart to my far right, seeing my brightly colored zones and how the market obeyed them as if they were the law, possibly seeps into my thinking and makes me feel like that is the way to trade.

But when I look at my personal background and what I have proven works for me, it is almost 180 degrees. But in some way maybe I despise that I will not make the effort to become the trader that I long to be, and in the process cast aside the trader that has proven to be profitable?

You may have nailed what I am doing. I kind of saw that recently, and that is why I allocated funds specifically to swings, to get that separated from my other trading. I wanted to allow both styles to exist, almost like I needed it to allow both to exist, if I am going to make it past being a single-contract trader.

Very good observation, and very humbling post for me. Thanks for the comments.

The following 2 users say Thank You to GaryD for this post:
 
  #2133 (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



lancelottrader View Post
I have been reading your journal for a while and I am puzzled why you are making big changes to your style. It seems you have had many consistent weeks in the past averaging well over 50 ticks a week..often over a 100..unless I am mistaken. If someone can consistently make over 50 ticks a week and can work themselves up to decent leverage...they will make serious money. That comes out to 10 ticks a day.. Can't you average 10 ticks a day with your previous style? Why become a swing trader ? Are you really able to predict world events ? Why would you consider holding a position overnight given all the instability in the global economy. Anything could happen. You seemed to me to be on the right track. Also..speaking of today.. why let yourself have such a strong bias on the direction. You said you missed some trades because you were expecting certain things to happen. Since when does "Predicting" have any bearing on Day trading. Your supposed to respond to what the immediate market conditions are. You have already proven to be great at that. It seems to me you should be reviewing all the things you were consistently doing right instead of making radical changes. Yes, some psychological issues arose when you tried to increase your position size....but your overall system seemed to be a winner. I hope you don't take offense to my comments....I just would hate to see you abandon what appeared to be a winning CL trading system.

One more thought just came out. I want more than that. And that is hurting me.

 
  #2134 (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 took a swing trade once, QM to feel "safer" about it, it went as planned, I did nothing other than pick the entry, the stop, the target, and got lucky. I think it was a 5WM completion but can't really reember that detail now. What I do remember, I actually had the biggest part of the move while I was not even watching it, and afterwords I felt like a trading god. That feeling infected me to some degree, and I have possibly dreamed of living in that space day after day, while I know that is not reality.

Reality is, tiny little moves over and over, and hoping to come out ahead. I want to be the dominant predator, but survive by being the constantly on-alert prey...

 
  #2135 (permalink)
Elite Member
london/england
 
Futures Experience: Advanced
Platform: Sierra charts, NinjaTrader, VK Trader
Broker/Data: CQG, AMP, VK, Kinetick
Favorite Futures: CL/6E/TF/ES
 
Posts: 952 since Sep 2011
Thanks: 562 given, 1,267 received

Adding size

Hi Gary hope all is well your side of the pond

With regards to your issues with adding size ect

This is what i did..........

I started off a account with $5,000

Traded 1 contract and here were my rules to grow my account and add size

Trade plan

Account size: $5,000

Risk per trade: 6 ticks (1.2% risk per trade on my account)

Risk per day: 18 ticks (3.6% risk per day on my account)

Daily PnL target: 30-60 ticks

Rules other that my method.....

Add 1 contract for every $5,000 added to my account

Minus 1 contact for every -$5,000 lost from my account

With this idea and rules.....i managed to grow my account safely and responsibly and i am now trading happly 10 contacts with a 1% risk per trade

Once you can make a method work with 1 contract there is no reason why you can trade 100 the exact same way, as long as the liquidity is there for you within reason

Also i didnt feel fear about adding the size because i knew my rules were there to protect me so i just got on with it and didnt feel a thing.....fear less but at the same time controled and responsible

Hope this idea helps

Regards

Ryan

" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"

Last edited by greenr; May 15th, 2012 at 03:51 AM.
The following 7 users say Thank You to greenr for this post:
 
  #2136 (permalink)
Trading for Fun
ho chi minh city
 
Futures Experience: Intermediate
Platform: Metatrader 4
Favorite Futures: Forex
 
Posts: 52 since Mar 2011
Thanks: 16 given, 9 received

Sounds like the OP just needs to take a break from the mkts. Come back and reasses the real reasons why he wants to change a very solid system. In my limited experience it usually comes down to stimulation rather than a system flaw.

The following 2 users say Thank You to peglegtrading for this post:
 
  #2137 (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).



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


Last edited by GaryD; May 15th, 2012 at 05:50 PM.
 
  #2138 (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


peglegtrading View Post
Sounds like the OP just needs to take a break from the mkts. Come back and reasses the real reasons why he wants to change a very solid system. In my limited experience it usually comes down to stimulation rather than a system flaw.


Maybe I do need a break, but what I am leaning towards is less stimulation. The way I trade is so intense sometimes. Meanwhile, I watch these S/R levels day after day after day, and see incredible risk to reward trades setup, but they require a lot more patiance than I have taught myself to have.

I watched a recent interview with Mark Cook on Youtube recently. He said something that I found interesting; "You are either an innie or an outie". Some people are more comfortable being in a market, others want to be in as little as possible. I seem to enjoy tha analysis that benefits being in and a trade style that prefers being out. TRying to let go of a stytle that has worked for me seems crazy, but I see something I feel is better, if I can get my mind to accept it. But until I find acceptance in that style, it will not work for me.

I am preparing to take a decent swing as soon as I get the right opportunity.

 
  #2139 (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


greenr View Post
Hi Gary hope all is well your side of the pond

With regards to your issues with adding size ect

This is what i did..........

I started off a account with $5,000

Traded 1 contract and here were my rules to grow my account and add size

Trade plan

Account size: $5,000

Risk per trade: 6 ticks (1.2% risk per trade on my account)

Risk per day: 18 ticks (3.6% risk per day on my account)

Daily PnL target: 30-60 ticks

Rules other that my method.....

Add 1 contract for every $5,000 added to my account

Minus 1 contact for every -$5,000 lost from my account

With this idea and rules.....i managed to grow my account safely and responsibly and i am now trading happly 10 contacts with a 1% risk per trade

Once you can make a method work with 1 contract there is no reason why you can trade 100 the exact same way, as long as the liquidity is there for you within reason

Also i didnt feel fear about adding the size because i knew my rules were there to protect me so i just got on with it and didnt feel a thing.....fear less but at the same time controled and responsible

Hope this idea helps

Regards

Ryan

What market?

 
  #2140 (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).


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 08:54 PM.

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 2017-12-13 in 0.20 seconds with 20 queries on phoenix via your IP 54.160.245.121