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8% per week


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8% per week

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  #1 (permalink)
ravensdale wa/USA
 
Experience: Advanced
Platform: Tadestation
Broker: Trade Station
Trading: Ag Futures, GBP, Crude
 
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Posts: 19 since Jan 2012
Thanks: 2 given, 16 received

[body] This trading journal is a about my goal of grossing an average 8% per week trading grains. I am developing a new system that will trade wheat, beans, cattle and and corn. Not all at the same time of course.

I am using these commodities as they currently offer the best mwDATR. (Average true range in relation to margin requirements)

I am also using Trade Station and a trading system developed by Netpicks called the SST trader. It is a programmable breakout trading system. Very robust.

Not sure if this will help anyone, but it sure will hold me accountable!

Sailingman

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  #3 (permalink)
Legendary Market Wizard
Georgia, US
 
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An initial $5000 investment, gaining 8% per week, will yield $253,000 at the end of 1 year if gains are reinvested and leveraged. That's a 5000% annual return on investment. The risk that must be assumed to even fathom a 5000% annual ROI is so astronomically large that I'm sure you have not even considered risk, the most important factor in trading. Am I right? (Without reinvestment and only taking profits, it's still a 400% gain)

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  #4 (permalink)
ravensdale wa/USA
 
Experience: Advanced
Platform: Tadestation
Broker: Trade Station
Trading: Ag Futures, GBP, Crude
 
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Posts: 19 since Jan 2012
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josh View Post
An initial $5000 investment, gaining 8% per week, will yield $253,000 at the end of 1 year if gains are reinvested and leveraged. That's a 5000% annual return on investment. The risk that must be assumed to even fathom a 5000% annual ROI is so astronomically large that I'm sure you have not even considered risk, the most important factor in trading. Am I right? (Without reinvestment and only taking profits, it's still a 400% gain)


I said "GOAL" ;-)

Here are my rules that I will be following no matter what:

50K trading account

Take all profits at the end of the month- reset account to 50K (I want a paycheck)

Always maintain a max MM ratio of 2% per trade. If I am in a draw down, then I take fewer positions.

Never initiate a trade through major news events.

The strategy has to have a 70% win/loss ratio and a sharpe ratio of 2 back tested over 300 trades before I trade it. I trade only sim accounts for forward testing for 2 months.

Risk is 2% of account balance per trade, power of quitting= (2) 1.5 X winners per day per contract or a max intra day draw down of 2%. (If I can't afford the trade because of volatility, then stand down)

Always a min of 2 contracts per trade. 1st set to close at 1.5X risk the other to trail on a 4-9 period MA

Trade between 9:00-11:00 only (exchange time) If I have a running trail after 11:00 then monitor position.

No positions held overnight.

If you aim for the stars while having a solid base under you- Who knows what is possible?


sailingman

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  #5 (permalink)
Houston,Tx
 
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josh View Post
An initial $5000 investment, gaining 8% per week, will yield $253,000 at the end of 1 year if gains are reinvested and leveraged. That's a 5000% annual return on investment. The risk that must be assumed to even fathom a 5000% annual ROI is so astronomically large that I'm sure you have not even considered risk, the most important factor in trading. Am I right? (Without reinvestment and only taking profits, it's still a 400% gain)

@josh

Now look what you've done... I hope you're happy...


I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #6 (permalink)
ravensdale wa/USA
 
Experience: Advanced
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Trading: Ag Futures, GBP, Crude
 
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Posts: 19 since Jan 2012
Thanks: 2 given, 16 received

I am going to add one more thing before I go sailing...

Last summer I was able to take an 11K futures account and grow it to 41K in 3 months. I realized I was taking WAY too much risk per trade (6%) and should have kept the risk per trade to 2%. My method was simply not sustainable and I would have eventually blown up my account for sure. But one thing I learned is that you can make money doing this but you have to watch your risk like a hawk.

Since then I have set my goal to making a monthly paycheck that is sustainable. If its 1-2% per week, I will be happy, if its more, I will be really happy.

I think the purpose of Big Mike's Forum is about sharing ideas, struggles, breakthroughs and aha moments, and that is what this trading journal is about. Not about bragging rights, or tooting my own horn.

This is about exactly what trades I am taking and why to hold me accountable. I am not there yet, but I know I will be because I can. I do not put other people's dreams down, and I would appreciate if that does not happen here.


There, I said it.

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  #7 (permalink)
Chicago, IL
 
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Hola,

Please give exact results along the way and really try an see and write about where your continuing edge is without too much risk per trade. Others will be able to learn from these details if you articulate/write them in enough detail and clearly.

I'll keep a good eye on your journal; good grain traders are somewhat of an anomaly--though those markets do provide good trades for about 60-90 minutes after the open.

peace

hedvig

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  #8 (permalink)
@ Germany
 
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sailingman View Post
I said "GOAL" ;-)

Here are my rules that I will be following no matter what:

50K trading account

Take all profits at the end of the month- reset account to 50K (I want a paycheck)

Always maintain a max MM ratio of 2% per trade. If I am in a draw down, then I take fewer positions.

Never initiate a trade through major news events.

The strategy has to have a 70% win/loss ratio and a sharpe ratio of 2 back tested over 300 trades before I trade it. I trade only sim accounts for forward testing for 2 months.

Risk is 2% of account balance per trade, power of quitting= (2) 1.5 X winners per day per contract or a max intra day draw down of 2%. (If I can't afford the trade because of volatility, then stand down)

Always a min of 2 contracts per trade. 1st set to close at 1.5X risk the other to trail on a 4-9 period MA

Trade between 9:00-11:00 only (exchange time) If I have a running trail after 11:00 then monitor position.

No positions held overnight.

If you aim for the stars while having a solid base under you- Who knows what is possible?


sailingman

Sounds good too me. If you have enough confidence to (in?) your strategy, try it and share your experience (and go sailing).

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  #9 (permalink)
Houston,Tx
 
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Trading: TF
 
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sailingman View Post
I am going to add one more thing before I go sailing...

Last summer I was able to take an 11K futures account and grow it to 41K in 3 months. I realized I was taking WAY too much risk per trade (6%) and should have kept the risk per trade to 2%. My method was simply not sustainable and I would have eventually blown up my account for sure. But one thing I learned is that you can make money doing this but you have to watch your risk like a hawk.

Since then I have set my goal to making a monthly paycheck that is sustainable. If its 1-2% per week, I will be happy, if its more, I will be really happy.

I think the purpose of Big Mike's Forum is about sharing ideas, struggles, breakthroughs and aha moments, and that is what this trading journal is about. Not about bragging rights, or tooting my own horn.

This is about exactly what trades I am taking and why to hold me accountable. I am not there yet, but I know I will be because I can. I do not put other people's dreams down, and I would appreciate if that does not happen here.


There, I said it.

@sailingman

You should listen to us... we know stuff... oh, wait...


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There, I said it

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #10 (permalink)
Berlin, Europe
 
Experience: Advanced
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sailingman View Post
I am going to add one more thing before I go sailing...

I only understand now that drown must the short form of draw down....

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