A CL Trading Journal - futures io
futures io futures trading



A CL Trading Journal


Discussion in Trading Journals

Updated by Upupandaway
      Top Posters
    1. looks_one Upupandaway with 107 posts (95 thanks)
    2. looks_two iTrade2golf with 18 posts (38 thanks)
    3. looks_3 PandaWarrior with 18 posts (33 thanks)
    4. looks_4 Big Mike with 15 posts (41 thanks)
      Best Posters
    1. looks_one Private Banker with 4.3 thanks per post
    2. looks_two Big Mike with 2.7 thanks per post
    3. looks_3 iTrade2golf with 2.1 thanks per post
    4. looks_4 Upupandaway with 0.9 thanks per post
    1. trending_up 27,861 views
    2. thumb_up 360 thanks given
    3. group 24 followers
    1. forum 215 replies
    2. attach_file 157 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

Closed Thread
 
Search this Thread
 

A CL Trading Journal

(login for full post details)
  #161 (permalink)
Dallas/Tx
 
Experience: Advanced
Platform: NinjaTrader
Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
Thanks: 168 given, 166 received

I'd like to also point out, that since I've said I'm going to trade live...I've only heard from two people, one of which was his very first post, you. This is the first time I've heard from you, you say you have been helped by these guys, I believe you. How about spreading around what you know....I guess thats my view point on that. I mean it is my account, my money, and this is my decision. I think if other members choose not to help me because I'm trading " my money"....that, that is.....not cool. But to each his own. But like I said in the last post, I heard from very few people when I was doing good. Then it like stoped all together, posts I mean, when I was winning, and doing good...why would that be? You would think that would be when a person would want to encourage someone. " Hey your doing good, or Hey I see this, correct it"....right? No....? Who knows. But I appreciate every bit of advice I've been given.....

Visit my futures io Trade Journal
The following user says Thank You to Upupandaway for this post:

Can you help answer these questions
from other members on futures io?
Sending an ACH from BoA to GFF Brokers
Brokers
US OTCQB STOCK Brooker for UK BASED RESIDENT
Brokers
Seeking an MT4 Indicator/EA that scans all Currency Pairs to identify setup
Platforms and Indicators
Sierra Chart Alert Formula Question
Sierra Chart
Move indicator on Chart
NinjaTrader
 
 
(login for full post details)
  #162 (permalink)
Dallas, Texas
 
Experience: Intermediate
Platform: ninjatrader
Trading: crude oil
 
Posts: 88 since Dec 2011
Thanks: 70 given, 41 received

Upupandaway,

I am by no means a trading expert. But I learned to trade the least number of contracts till my excecutions, exits and money risk management are NEAR PERFECT.

With your account size, and trading style, you SHOULD NOT trade more than ONE contract at a time, EVEN if your account size reaches $10,000. Why would you put a $ number at which you will add a contract ?? and you trading is not perfected yet. Your losses will be 1/2 of what you are experiencing at the present moment. That extra money that you will be saving will carry you longer and keep you in the trading career longer


Now, if you want to add contracts, do it by adding a contract to an existing PROFITABLE position (called pillaring not pyramiding) , only after securing the first position with a profitable stop loss. This may have a tremendous effect on your emotions.

Upupandaway, trading is about making money, WITH the CORRECT WAY to make money, that is suitable to your personality.

Again, this what I learned in over fifteen years.

Amin

The following 2 users say Thank You to avall38486 for this post:
 
(login for full post details)
  #163 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,368 received



Upupandaway View Post
1. I'm going to risk 400 a day at most.
2. I'm going to risk at the start of the trade 17 ticks, which will be moved to 12 ticks after the first bar from entry closes.
3. 10 at most, max number of trades
4. I'm not willing to lose anymore than 150 dollars once I'm up for the day. If that happens I'll stop
5. I'll add another contract at 10,000, or possible sonner. This will depend soley on my performace more than my account size. I should win, "IF" I do what I know is right. So if I can prove to myself that I can becomed disciplined enough to do what is "right"...then I would trade 2 contracts at 8000.


I want to ditch the MACD. But I'm not going to change anything while I'm trading live. I agree with you about all the points you have made, and it does need to find it's way off my charts. I do not think that should be while I trade live. I've proven to myself I can make money with what I got, also that I can destroy it if I mess it up. If I got rid of the MACD now, I wouldn't know what to use to enter trades with. But I hear you...and I'm working on it. Any suggestions.

The only way it will come off is to just take it off. Like a band aid on a hairy arm. Just rip it off. It only hurts for a minute. Then just pay attention to what price is doing around your MA's. You'll be fine.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following user says Thank You to PandaWarrior for this post:
 
(login for full post details)
  #164 (permalink)
Nashville, TN
 
 
Posts: 38 since Jun 2011
Thanks: 5 given, 79 received


Upupandaway View Post
Thanks for the posts.

I hope though I've decided to continue to trade, against advice that I will continue to recieve, much needed encouragment and advice from other members. I hope those members will continue to point out whatever they deem neccesary, to help me improve.


Upupandaway View Post

I welcome any advice...any!

Thank you


iTrade2golf View Post

I would say to you to reevaluate your methods and money management along with your discipline.

So you have to decide right now if you can do the things that have to be done to last in this business or if you think you can fly above it all and do it anyway you want.

I can give you advice, however you will not like what I have to say because I will say what you need to hear not what you want to hear.

This is a point in your trading life where you have to decide right now if you can make the changes that will make you a trader


iTrade2golf View Post

Can you identify EXACTLY why the trades should not have happened. Being very specific will help you to mentally focus and remove some of the ambiguities over time.

Are you working to be a trend trader or a counter trend trader or both. I would DEFINITELY tell you to pick one and perfect it first before trying the other.


iTrade2golf View Post

you should have your rules written down exactly along with some screenshots. So when you make a mistake you can annotate it and write that trade down to also refer to later. I don't have to understand it, but you should know it without hesitation and it should be exact.


iTrade2golf View Post

I am saying that you are trying to trade a very fast chart and you are having to use bad risk management to accomplish. This is from using a chart that is too fast.

You also stated that you get so overwhelmed that you can't trade everyday. I was trying to introduce a larger time frame as a first step to help you with these problems that I noticed.


iTrade2golf View Post

You are digressing and starting to inject your thoughts into the market again. You are also letting other people influence your trading.

you had not did the proper due diligence of research and backtesting before trying to put a new method into your system.

You need to slow down and get YOUR methods defined EXACTLY, and never trade a method without the due diligence. This brings me to the point that trading is more the trader than the system. You MUST work on your mental flaws that allow you to make those big mistakes.

I will however help you focus on defining your methods for yourself by asking questions that will get you to hopefully focus on the proper aspects of your system. I will keep pushing you to work on the psychology of trading to include first learning all you can learn about your own personality.


iTrade2golf View Post

I would ask that you DEFINE EXACTLY your Setups, Signal, Entry, Exits and Risk Management. I am not sure of them as this thread progressed you changed somewhat. A TRADER NEVER enters a trade that is not defined in their system.

I am a little fuzzy about your current methods within your system. I am not here to analyze whether your system is correct, only that you have a complete system and will be disciplined with entries and exits and you have the correct mental approach to trading.


iTrade2golf View Post

Take what I am saying as constructive criticism in an effort to help you focus on certain aspects.

I read your posts and I can say to you that most traders that struggle are doing exactly what you are doing.

You have changed your rules often and then you don't follow them. You inject your thoughts into the market, when you should be letting the market point you in the direction that price is moving.

Your thinking is monetary and not execution based. Judge your trading days on the exact execution of your rules. The money will follow the traders who execute their system with precision and discipline.

You need to get a "DIRECTIONAL BIAS" and never trade against it for no reason. The fear of price reversing and leaving you behind is why people are afraid to only trade a market in one direction. This will also help you NOT OVER TRADE.

Another reason people can't trade with a bias is that they are trying to inject their thoughts into the market ie. "I think" that it's about to bounce here or one of my all time favorite "it looks top heavy". This comes from people not having a defined entry point and then them jumping into a market after it has moved up significantly just before the market turns for a correction or pullback. After this happening to them many times they get so afraid to trade a market moving up or down and constantly trying to pick the reversal level. To get slaughtered on a strong trend day when veteran traders are making big profits that help secure their week.


Up you have been given plenty of advice to this point. It is up to you to listen and do the hard work. I am not here to say what you want to hear only what you need to hear as I stated.

My Pastor always says "There is nothing new under the sun."

The mistakes you made yesterday, you will make today, and tomorrow. You are looking for a trading method that will make you profitable. The problem with that is that you are the problem. Self discipline is the first step. You have to become disciplined, focused, precise, and patient. Then coupled with the hard work of researching and developing your system you will possibly have a chance to be a successful trader. The Market owes you nothing, everything is earned.

The following 2 users say Thank You to iTrade2golf for this post:
 
(login for full post details)
  #165 (permalink)
Dallas/Tx
 
Experience: Advanced
Platform: NinjaTrader
Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
Thanks: 168 given, 166 received

Yesterday Monday I lost another thousdan so dollars. Didn't do what I knew I should. Was scared to do what I know I should. Like afraid as soon as I entered it'd go against me...wouldn't of, had I entered right.

Anyways today I started with my account at 2875. I made a trade in the morning, and it went up 30 ticks, took that, that was good. Looked over at P n L and noticed I had it on "sim"...great... Took it off sim, and aways I went. I quickly had the account down to 2400 in two trades. So...thought well crap...ok.

So as it started selling off and looking like it might hit yesterdays "VPOC". I was "mentally" against selling it, but everything said sell it. So I made myself do that. Those VPOCS do get hit, and I atleast had a chance for it. If it did work out, I'd make back some much needed mental relief, capatial relief that is. Went my way... and my account now reads "3805" dollars. I made about 930 or so.

I can say this, that the only thing from now on that I'm doing, or "not doing I guess" is trading against the 5 minute chart. I get burned almost always trying to trade "BTMAT". I think it's a valid trade, but it's to muddy, like muddy water I guess.

Attached Thumbnails
Click image for larger version

Name:	CL 08-12 (150 Tick)  6_26_2012.jpg
Views:	73
Size:	134.4 KB
ID:	79133   Click image for larger version

Name:	CL 08-12 (150 Tick)  6_26_2012   1.jpg
Views:	54
Size:	128.4 KB
ID:	79134   Click image for larger version

Name:	account.jpg
Views:	50
Size:	13.5 KB
ID:	79135   Click image for larger version

Name:	account balance.jpg
Views:	65
Size:	25.7 KB
ID:	79136   Click image for larger version

Name:	CL 08-12 (5 Min)  6_26_2012.jpg
Views:	63
Size:	120.4 KB
ID:	79138  
Visit my futures io Trade Journal
 
(login for full post details)
  #166 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,368 received

Couple of questions on the charts.





How many contracts you trade today?

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #167 (permalink)
Toronto, Canada
 
Experience: Advanced
Platform: NT
Broker: TD Ameritrade, Dorman/Zenfire
Trading: CL,ES
 
VinceVirgil's Avatar
 
Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,218 received


Upupandaway View Post
I'd like to also point out, that since I've said I'm going to trade live...I've only heard from two people, one of which was his very first post, you. This is the first time I've heard from you, you say you have been helped by these guys, I believe you. How about spreading around what you know....I guess thats my view point on that. I mean it is my account, my money, and this is my decision. I think if other members choose not to help me because I'm trading " my money"....that, that is.....not cool. But to each his own. But like I said in the last post, I heard from very few people when I was doing good. Then it like stoped all together, posts I mean, when I was winning, and doing good...why would that be? You would think that would be when a person would want to encourage someone. " Hey your doing good, or Hey I see this, correct it"....right? No....? Who knows. But I appreciate every bit of advice I've been given.....

Fair enough.

Just a couple of thoughts. Last November or so, I was musing out loud that there were few traders commenting on my journal. I guess I wanted more attention.

Big Mike wrote me back saying that the journal was to benefit me, and that reguardless of the commenting is an aid to my trading. He was right...like usual.

Mike has the benefit of seeing thousands of traders. I mean thousands. He has seen every mistake in the book, and he can spot them from 35000 feet away.

And he has access to the very best traders. Think webinars, think telephone conversations with these guys, friendships. He likely knows more profitable traders than the average bear.

So when he speaks, I, for one, listen. I have had over 15,000 visits to my journal. And Mike has commented on my thread less than 10 times. He has never been wrong.

So, I dont know what to say, except to reiterate what I said before. I cannot add anymore advise over what you have already received. If you dont accept what you have been given, which, BTW, you havnt from what you are continuing to post, you are not getting the point.

Likewise from the advise from Private Banker and Panda Warrior. And more recently, Itradetogolf. I have to admit, I dont review his thread very often, but his reccomendations are spot on, from what I read.

You see, there isnt any secret to trading. Just like there isnt any secret to playing the game of golf. Anyone can figure it out in a few days.

But there is a big difference between playing a game of casual golf and playing the game to earn a living wage.

So what are you doing? Are you playing a game of casual golf here, or do you want to be a pro? If you want to be a pro, you have to do the things that pros do...first. ( by pro I mean a full time trader, or majority of income derived from trading)

Mike is a pro, Pandawarrior, PrivateBanker, a few more.

I want to be one.

Follow me on Twitter Visit my futures io Trade Journal
The following 11 users say Thank You to VinceVirgil for this post:
 
(login for full post details)
  #168 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,093 since Jun 2009
Thanks: 31,718 given, 95,362 received


VinceVirgil View Post
You see, there isnt any secret to trading. Just like there isnt any secret to playing the game of golf. Anyone can figure it out in a few days.

Worth repeating, too many don't fully understand this Just because you know how to play and what mistakes to avoid, doesn't mean you know how to play well.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal
 
(login for full post details)
  #169 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,368 received


VinceVirgil View Post
Mike is a pro, Pandawarrior, PrivateBanker, a few more.

I want to be one.

Once again, I fear you are stretching the truth a tad here. You, @Big Mike and @Private Banker are the pros in the list you mentioned.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 3 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #170 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,093 since Jun 2009
Thanks: 31,718 given, 95,362 received



PandaWarrior View Post
Once again, I fear you are stretching the truth a tad here. You, @Big Mike and @Private Banker are the pros in the list you mentioned.....

I list myself as "advanced", not "master". I still make a lot of mistakes

Maybe you could include @tigertrader in that short list, because he is definitely in-tune with the market, it whispers to him in his sleep. You can find his fine advice scattered throughout the forum, but mainly concentrated within the SP500 main thread.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal
The following 4 users say Thank You to Big Mike for this post:

Closed Thread

futures io Trading Community Trading Journals > A CL Trading Journal


February 6, 2013


Upcoming Webinars and Events
 

Order Flow Tools w/MotiveWave & Zytrade Brokerage

Oct 22
 

Technical Analysis Workshop w/NinjaTrader

Oct 27
 

Bookmap

Oct TBD
 

SharkIndicators

Oct TBD
 

Carley Garner

Oct TBD
 

GruttePier

Oct TBD
     



Copyright © 2020 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