My One Year Journey to Break Even - futures io
futures io futures trading



My One Year Journey to Break Even


Discussion in Trading Journals

Updated by TrendTraderBH
      Top Posters
    1. looks_one TrendTraderBH with 11 posts (10 thanks)
    2. looks_two baruchs with 1 posts (0 thanks)
    3. looks_3 djkiwi with 1 posts (0 thanks)
    4. looks_4 joeforex with 1 posts (1 thanks)
    1. trending_up 2,012 views
    2. thumb_up 11 thanks given
    3. group 5 followers
    1. forum 13 replies
    2. attach_file 0 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)

 
Search this Thread
 

My One Year Journey to Break Even

(login for full post details)
  #11 (permalink)
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
 
Posts: 299 since Nov 2011
Thanks: 485 given, 286 received

I agree with you. Maybe I should have added that any target of 15t or less.



baruchs View Post
I'm the biggest opponent to scalping. I explained why many times on this forum, still the more accurate definition for scalping should be "going for a small target". I don't think that you would classify as scalping a trade with 400 ticks target and 450 ticks stop.

Baruch


Reply With Quote

Can you help answer these questions
from other members on futures io?
Do you know any futures platform that allows grid automation like shown on this vid?
Platforms and Indicators
Do You Have A PlayBooks/What Form Does It Take?
Traders Hideout
SC parameter optimization
Sierra Chart
Book discussion: Automated Stock Trading Systems
Traders Hideout
In a year or so of your trading journey, where were you?
Traders Hideout
 
 
(login for full post details)
  #12 (permalink)
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
 
Posts: 299 since Nov 2011
Thanks: 485 given, 286 received

Another aside for today:

I'm going through a bit of losing streak lately. The difference this time is the "lesson for the day" I have learned and employing.

During losing streaks of my trading in the past...I would start to blow stuff up and really make the losing streak a "good" one lol. The last two losing streaks including this one (approximately 8-10% draw down) are being regularly interrupted by just plain old stopping trading for the day. It's tough to end the day, multiple days, or the week with a red number but it is important to know when to walk away and come back the next day or the next week etc.

This lesson could have saved me thousands of $ but as I mentioned before I'm a slow learner.

Losing steaks don't last unless I let them permanently last.

More soon.....

Reply With Quote
 
(login for full post details)
  #13 (permalink)
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
 
Posts: 299 since Nov 2011
Thanks: 485 given, 286 received


Another important lesson that took me a while to get and doesn't always stick but getting better is knowing when not to trade due to adverse market conditions.

This "rule" when followed probably saves (me) more money than profitable trades make (me) money.

Other folks have a different name for this rule calling it "only trade your specific setup".

It is usually a big victory (that doesn't feel like one) when the market didn't give me my setup or market conditions were not optimal and I walked away without taking a trade.

Very hard to do when all those around me are taking trades for profit and announcing their successes on their threads but I remember than my setup makes me money consistently and others, do not plain and simple. Repeat that 100 times....lol

More to come....

Reply With Quote
The following user says Thank You to TrendTraderBH for this post:
 
(login for full post details)
  #14 (permalink)
Detroit, Michigan
 
Experience: Beginner
Platform: Ninja Trader
Trading: Futures
 
Posts: 299 since Nov 2011
Thanks: 485 given, 286 received

I rarely post a daily/weekly update but thought this week so far had within it an important lesson.

I've been pretty tired this week and in some cases noticing myself distracted and even nodding off in front of my computer. Additionally, I've missed limit order fills by 1-2 ticks for trades that went on to win big. This implies tentativeness and lack of confidence in my trading lately.

The upside is I've realized this and instead of taking bad trades after missing out on the good ones, I've just packed it in and decided not to trade. A common pattern I've been able to overcome (trading "psychology") is taking bad trades (or not as good trades) as the previous ones missed. Now if I miss the good ones there is always tomorrow. Nothing worse than losing my "edge" because I reduced it by taking less than optimal signals.

As an aside, my "edge" usually produces 1-3 optimal, full compliant with my rules trades per trading day in the hours range of 8 am to 11 am Eastern time. Anytime after that time or even towards the end of that time the trades quality deteriorate significantly.

The best trade is sometimes not to trade as that at least yields break even which is already better than 90%.

More to come....

Reply With Quote


futures io Trading Community Trading Journals > My One Year Journey to Break Even


March 12, 2013


Upcoming Webinars and Events
 

NinjaTrader (special webinar #400 w/giveaways)

Oct TBD
 

Bookmap

Oct TBD
 

SharkIndicators

Oct TBD
 

Carley Garner

Oct TBD
 

Ironbeam

Oct TBD
 

Zytrade

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