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FredDecker's Trading Journal
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FredDecker's Trading Journal

  #1 (permalink)
Trading Apprentice
Chicago, IL, USA
 
Futures Experience: None
Platform: T4
Favorite Futures: Euro F/X
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

FredDecker's Trading Journal

Date: 8-7-2013

Trades: 1

Plan followed? Yes

Hello everyone! I am a Combine Trader at Topstep Trader. I welcome constructive thoughts and comments anyone might have.

Daily Trading Goal: Last night my friend JPreston suggested to me that the trading journal and the trading plan were reciprocally supportive documents. Writing in the journal suggests ideas which need to be added to the trading plan, and the structure of the trading plan encourages good practices which are recorded in the journal. Today my goal was to execute a plan for handling multiple trades within the same day -- an idea taken from my trading journal and added to my plan.

Best & Worst Trade of the Day: My best trade today was having the support telephone number for TsT written down in the back of my trading journal. A hail storm knocked out power and I was able to call Erin in support and ask her to cancel my working order to buy the bonds. Thanks Erin!

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  #2 (permalink)
Quick Summary
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Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Trading Apprentice
Chicago, IL, USA
 
Futures Experience: None
Platform: T4
Favorite Futures: Euro F/X
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

8-8-2013 Journal Entry


Trades: 1

Plan Followed? Yes

Daily Trading Goal: Yesterday I added a new feature to my trading plan based on observations from my trading journal -- at 10:30 CST each day I need to check off on my range trading strategy and take appropriate action. Better journaling has helped me develop my trading plan.

Best & Worst: I followed through on my goal -- even though the range strategy in NQ did not set up. My bond trading strategy made + 8. After the bond trade I checked my outcomes in ZB for my current Combine to see if I could size up to 2 contracts in my bond trades. My plan calls for me to size up when the strategy is + $700. I am + $360. I will stay with one lots, but I feel good about having the level in my trading plan before the Combine started.

Quote of the Day: "The outcome of the trade does not control whether the trader was wrong or right." Bob Iaccino

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  #4 (permalink)
Trading for Fun
Yokohama South Korea
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: CTS
Favorite Futures: gold
 
Posts: 102 since Nov 2012
Thanks: 87 given, 56 received

Hello Fred! it's great to see you here! I've benefited quite a bit from listening to your interaction with Dr. Menaker on Squawk radio. you ask brillant questions, many of which were that I'd have liked to ask but didn't know how to phrase. I'd like to thank you for that and I'm looking forward to read more of your journal.

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  #5 (permalink)
Trading Apprentice
Chicago, IL, USA
 
Futures Experience: None
Platform: T4
Favorite Futures: Euro F/X
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

8-9-2013 Journal Entry

Thanks Sayounara! I enjoy Dr. Menaker. He offers a perspective on the trading challenge which I don't see anywhere else!

Trades: 2

Plan Followed? Yes

Daily Trading Goal: I've taken all opportunities my strategies have offered this week and I have built a profitable week going into Friday's action. No matter what happens today I want to make sure I finish the week positive.

Best & Worst: I followed through on my goal of ending the week positive. Both trades I took today were executed correctly. I lost - $125 on my NQ trade and - $130 on my ZB trade. I struggle to view well executed trades with losing outcomes as "good trades." I try to judge my actions and not my outcomes, but I am only partially successful.

Looking forward to next week I have the USDA Crop Production report scheduled for Monday, 8/12/2013 at 11:00 CST. There are 7 red star economic releases. Thursday looks like the heaviest news day.

Quote of the Day: "You have to be willing to let the money flow in and out of your hands." NEBRASKA

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  #6 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,388 since Jul 2012
Thanks: 1,139 given, 4,387 received
Forum Reputation: Legendary

3 for 3 with "plan followed" - very good! Assuming you have a comprehensive, well thought out plan (I'm guessing that is the case, based on what I know about you), following it is a major thing.

I bet that 90% of people out there can't consistently follow their plan...

Keep up the great work!


If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #7 (permalink)
Trading Apprentice
Chicago, IL, USA
 
Futures Experience: None
Platform: T4
Favorite Futures: Euro F/X
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

8-12-2013

Hello everyone! Thanks kevinkdog for your kind thoughts -- and all your help! For those who don't know kevinKdog is a heavy hitter but also a down to earth and positive guy. I have been lucky enough to learn some great ideas from him (which I am working on every day!)

Trades: 1

Plan Followed? Yes

Daily Trading Goal: I had a dilemma today: I had multiple planned trades setting up for today, but my trading plan has a rule: shut down for the day if the first trade of the week is a loser. I had to prioritize between my setups. I chose to trade the USDA Crop Production Report straddle setup, which has both a higher winning percentage and a higher expected outcome than my Sneak Attack Bond Trade. I made the decision in favor of ZC over the weekend -- when there was no pressure on my decision making.

Best & Worst: I followed through on my Daily Trading Goal and preparation paid off in my outcomes today. I am mainly working to follow through on my Daily Trading Goal to encourage correct actions, build self-trust, and so on. I hope good outcomes will be a by product of good trading actions over time. Today was a milestone day, which I will allow myself to take a little pleasure in!

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  #8 (permalink)
Trading Apprentice
Chicago, IL, USA
 
Futures Experience: None
Platform: T4
Favorite Futures: Euro F/X
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

8-13-2013 Journal Entry

Trades: 0

Plan Followed? Yes

Daily Trading Goal: I talked to my friend JPreston after the close yesterday. He reminded me to "beware of give-back days after successful winning days," -- which Monday was for me. My goal for today was to follow JPreston's good advice and be deliberate in taking only planned trades.

Best & Worst: I followed through on my goal, though it was a challenge to my psychology. I had 2 possible set-ups today, but neither one fulfilled my pre-conditions for a trade, so I took no trades. No trades was a good trade today.

My plan calls for me to not trade Wednesday to Friday of options expiration week. After one trade on Monday I am done for the week! I hate to sit on the sidelines -- especially in a news-heavy environment, but experience has taught me I don't do well in unpredictable volatility of options expiration. I will try to view the rest of the week as a back testing opportunity!

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  #9 (permalink)
Trading Apprentice
Chicago, IL, USA
 
Futures Experience: None
Platform: T4
Favorite Futures: Euro F/X
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

8-14-2013 Journal Entry

Trades: 0

Plan Followed? Yes

Daily Trading Goal: My plan calls for me to not trade during Wednesday to Friday of options expiration week. My goal is to take trades in my practice account to keep my execution skills sharp and try to create extra time for catching up on my back testing projects.

Best & Worst: I dislike sitting on the sidelines. If my strategies have an edge, then I need enough trades for my probabilities to play out in my favor. My research shows I don't trade well during options expiration, so I've adjusted my plan to not trade during options expiration. I think I made progress today in my psychology and in accepting inaction as a good trade.

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  #10 (permalink)
Trading Apprentice
Chicago, IL, USA
 
Futures Experience: None
Platform: T4
Favorite Futures: Euro F/X
 
Posts: 47 since Oct 2011
Thanks: 15 given, 65 received

8-15-2013 Journal Entry


Trades: 0

Plan Followed? Yes

Daily Trading Goal: I am on the sidelines for another day due to options expiration week, which gives me an opportunity to move forward with my multiple back testing strategies. There is some urgency to this work -- I only trade one of my key strategies when the equity curve is above its 20 day moving average. I am concerned I will be starved for trading ideas when the equity curve for this strategy falls below its 20 day moving average and my plan calls for me not to trade. I need to develop new ideas to compensate.

Best & Worst: I followed through on both aspects of my Daily Trading Goals -- I took my planned trades in my practice account and continued working on my back test ideas. I am looking forward to action on Monday!

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