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This is good advise, so I will follow it...
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Created: by VinceVirgil Attachments:186

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This is good advise, so I will follow it...

  #271 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NT
Broker/Data: TD Ameritrade, Dorman/Zenfire
Favorite Futures: CL,ES
 
VinceVirgil's Avatar
 
Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,180 received


researcher247 View Post
Hi,

Thank you for posting your daily journal.

You appear to be a good technical trader (Al Brooks, traditional TA).

May I ask what your goals and plans are for sim trading (# of trades or months consistently following rules) and do you have a trading plan for when you will be trading real money?

You appear to be quite consistent in sim (remarkably so). Is this both technical (mechanical/rule based) and discretionary (feel/experience/gut) trading in sim?

Will you carry either or both into live trading (if you do plan to trade live)?

peace

Hedvig


I beleive my journal has explained all that you ask. My previous journal entries outline everything, therefore, if you go back to the beginning, all your questions should be adequately addressed, as it details my history with investments in general, and my more recent foray into futures trading.

I will not share with you any specifics, as I am currently an investment advisor, and i handle client funds, in both self directed and managed accounts on a non discretionary basis, for the most part. I handle my own investments on a discretionary basis, and because I have a US based account, I do not have to report my personal trades to the security authorities. But all my Canadian based trades, in my Canadain account, are considered Pro trades, and I have to submit the requisite paperwork.

I have been live trading for the majority of my working life. I am profitable as I derive my living from management of financial assets, and I have been doing it longer than I care to remember.

As far as amounts are concerned, when the market fell in late 2008, my client portfolios dropped in value as much as 40%. Thankfully, very little was margined, therfore, no margin calls of any great amount. The fall cost more than a few million in the short term. But Canada recovered quickly in 09 and 10, as we are resource based.

100,000 in an account is not a lot.

Do you see what I am getting at?

 
  #272 (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

Sorry,

I may have confused you with another poster's journal.

My mix up.

peace

Hedvig

 
  #273 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NT
Broker/Data: TD Ameritrade, Dorman/Zenfire
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VinceVirgil's Avatar
 
Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,180 received



researcher247 View Post
Sorry,

I may have confused you with another poster's journal.

My mix up.

peace

Hedvig

No need for apologies. No harm done.

VV

 
  #274 (permalink)
Trading Apprentice
Kuala Lumpur, Malaysia
 
Futures Experience: Intermediate
Platform: Sierra
Broker/Data: AT Infinity
Favorite Futures: Past:CL / Now:NQ
 
bwasi's Avatar
 
Posts: 29 since Nov 2009
Thanks: 15 given, 28 received


Quoting 
I beleive my journal has explained all that you ask. My previous journal entries outline everything, therefore, if you go back to the beginning, all your questions should be adequately addressed, as it details my history with investments in general, and my more recent foray into futures trading.

I will not share with you any specifics, as I am currently an investment advisor, and i handle client funds, in both self directed and managed accounts on a non discretionary basis, for the most part. I handle my own investments on a discretionary basis, and because I have a US based account, I do not have to report my personal trades to the security authorities. But all my Canadian based trades, in my Canadain account, are considered Pro trades, and I have to submit the requisite paperwork.

I have been live trading for the majority of my working life. I am profitable as I derive my living from management of financial assets, and I have been doing it longer than I care to remember.

As far as amounts are concerned, when the market fell in late 2008, my client portfolios dropped in value as much as 40%. Thankfully, very little was margined, therfore, no margin calls of any great amount. The fall cost more than a few million in the short term. But Canada recovered quickly in 09 and 10, as we are resource based.

100,000 in an account is not a lot.

Do you see what I am getting at?

You're a big white shark ? and I'm a Nemo
I voted your journal and another one by PW

-b

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  #275 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
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bwasi View Post
You're a big white shark ? and I'm a Nemo
I voted your journal and another one by PW

-b

Same votes here....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #276 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
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Broker/Data: TD Ameritrade, Dorman/Zenfire
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bwasi View Post
You're a big white shark ? and I'm a Nemo
I voted your journal and another one by PW

-b

Thanks for the vote.

 
  #277 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
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Broker/Data: TD Ameritrade, Dorman/Zenfire
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Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,180 received

13.4.2012

Short day today. Been busy with paperwork and such, and I ussually like to take Fridays off.

At least the afternoon.

4 trades today

-16+16+20+18=38

Middle of session had me confused with big swings on thin volume. Made me think everyone was thinking early weekend. So I shut down after 4 trades as I wasnt feeling the love.

But I had a good week overall.

Monday 62
Tuesday 62
Weds 136 (Still thinking about holding for the DOE report)
Thurs 72
Fri 38
========
Total 370
========

Not changing anything. I am continuing with what I am doing, strickly trading a 5 minute with a 20EMA and previous areas of support using PA as my guide.

I have Momentum charts and a 30 minute that i use to try to see previous areas of support and resistance. I think I can see these areas well, so I am trading based on where i feel they will develop.

One change that I have found very hlepful was to anticipate these areas, and to get ahead of the crowd buy getting my entries in earlier.

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This is good advise, so I will follow it...-cl-05-12-5-min-final-recap-13_04_2012.jpg  
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  #278 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Beginner
Platform: Ninja Trader
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Posts: 155 since Jul 2009
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Do you trade based on one time frame only or do you incorporate a higher / lower time frame to help understand the entries / exits better ??

Thanks
Steve
Be like a JAGUAR. Crouching, perfectly still, waiting for the set up to come to you, then pouncing without hesitation or thought. You only need one to feed the family
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  #279 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NT
Broker/Data: TD Ameritrade, Dorman/Zenfire
Favorite Futures: CL,ES
 
VinceVirgil's Avatar
 
Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,180 received


SteveM View Post
Do you trade based on one time frame only or do you incorporate a higher / lower time frame to help understand the entries / exits better ??

Hi SteveM,

I base my entries on the 5 minute chart.

When I first started, I used a 1 minute chart, but I was getting chopped to pieces, the dreaded death by a thousand cuts. Big Mike commented early on in my posts about this very subject. I took his advise and went to the 5 minute immediately. Havnt looked back since.

I do look at longer time frame charts, 30 minutes over the last few sessions, in an attempt to get a context as to where support and ressitance may be from previous sessions.

More recently, I added a momentum chart to help get a feel for the direction volume is taking price, particularily when there is a spike. I am encorporating this element in an attempt to add efficeincey to my trading by capturing a greater percentage of the trend. I use elements of market profile as well, but I am in the process of getting another brokerage account and going to Zen/Fire and IQFeed for charting to help me with market profile.

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  #280 (permalink)
Elite Member
Detroit, Michigan
 
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Posts: 295 since Nov 2011
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VV,

Great trading last week. Two questions:

1. Are your numbers based on 1 contract performance? So each "contract" last week yielded 370 points.
2. Have you tracked your first trade of the day performance? Do they have higher odds of being losing trades? I found that this occurs in my trading and have tried different strategies to eliminate or reduce (ie. only trade 1 contract of first trade of day vs. two).

Thanks again!!


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