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Sliebler's TST Trading Journal
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Sliebler's TST Trading Journal

  #11 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

Monday

This monday I have been watching crude and S&P. I only managed a couple trades in the S&P. Which were stopped out. It is extremely clear that I have the right idea w=of what I need to be doing, I just need to perfect the act of actually doing it. I have to keep internalizing my rules and acting on them.

I know my edge is profitable and has a great probability ratio. I just need to perfect implementing it in these markets and using it in the right way. Actually applying its rules to my markets.

One thing I thought about today was the need to be more organized about my system. I might be slowing my progress down by not actually laying out my system in an easy to implement way. hard to explain to someone besides myself. but right now it is just a bunch of information and needs to be organized in a way that can be implemented without having to think about it a whole lot.

More to come.

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  #12 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

No Trading today.

Not even an attempt like yesterday. I am just watching and seeing how the markets are playing out. Which is really interesting because I am learning so much just by doing so.

I am still on ES & Crude.

One of my big problems, I believe, was the habit of seeing the market from a bad perspective. What I mean by this is, I thought I was thinking about the forces at work in the market but I was trying to out-smart them. I actually owe a good bit of Credit to MtnMan from TST. I don't know if he has a profile on here but I digress.
He mentioned something about playing the people that are making the plays. Something along those lines. The dude is a boss and that the point I am making, by applying the perspective of outsmarting the smart people, I look at the markets in a way that opens my perspective to a lot of different explanations of past moves and future moves.

Fun stuff.

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  #13 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

Finally


I actually put on a trade today, and as you (if anyone reads this thing) know I have been working on following my system which really becomes more clear and concise everyday.

So I was short the S&P, which is the way I told my self I was going to trade from building my bias.

Entry @ 1641.25 and got out right after the closing @ 1635.50

I am particularly interested in this trade, as much as I am with my losing trades. because I was able to do this trade with little to no risk. the thing I should note though is that it took my two attempts to get in the trade so that took a little bite out of my totals, and added to the risk. but overall it was a 3:1 reward to risk after accounting for the first failed trade and the re-entry risk. so that isn't to bad. maybe there is a way to help that number by looking closely at what I did wrong on the first entry that hurt me. Actually I think the answer is simple in that I didn't wait for a confirming pattern. and on my re-entry I did trade a confirming pattern. This will be something I study for a while. especially when I am watching charts tonight to see if these patterns can be the necessary ingredient for fixing my entry issues.

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  #14 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

About my trade yesterday

I know yesterday was a decent trade, and I still have a long way to go before I can really do that consistently, but I wanted to take some notes out of my journal that I wrote while I was actually in the trade. I think that it is really important to remember that.

During the trade Journal Entry;

(take note also that these notes are hardly legible)

I took a short in S&P and was knocked out, which is okay I will notice that I didn't wait for a strong confirmation. Like the one that was soon to follow after I was stopped out the first time. Once this confirmation was in place I re-entered and I am very confident in the entry and trade overall. My targets are marked out clearly on my charts and I am trying to accept the risk. So, I am happy, but I am extremely nervous. My sight sucks actually and my hands are shaky, is this normal? wtf? This is obviously something I have to work on. I may need to walk away or at the very least get out of the Minute charts and maybe allow myself to keep my confidence up and see that my system is at play here and that's why I am in this trade. I am in the green and that takes a HUGE amount of nervousness away. When the trade is not in my favor even by a little bit I get petrified lol. This is obviously me just needing to work on my confidence in my system and also accepting the risk.


So that is what I wrote in my journal, and looking back I am extremely glad I did that and will continue to do so when I make trades.

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  #15 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

Two days rolled into one

This really isn't going to be much about the trades as it is why it happened.

But first I want to point out something that has been happening and then assess the situation here.

I have watched several setups run right by me in the past week.
"Yeah yeah it happens" I can hear you saying,

But the fact is I am getting setups and for some reason when I should be trading and validating my system, I let the opportunity slide by me. This need not be made into a big story/situation because that will just slow down fixing the problem. After all problem are only as big as we make them. So with that in mind, maybe it would be wise to tackle the situation systematically, when I see a trade that fits my system I need to make it. no thinking. Just make the trade. forget the risk. Then if it is a sour trade I can look back at what I did wrong, and fix it in the future. taking it one trade at a time, and at the same time building a great amount of information from each. focus on my system and what needs to happen in the market to validate the trade and just make it happen.

In summary, Focusing on the setup, and looking for the check boxes to all fill and then embrace ignorance. after the trade is over return to that trade and analyze what happened. I can't learn if I don't trade. all I can do is say, well that would have been a great trade.

Thanks for letting me get that off my chest. I think I just solved my problem.

Now on to my past two days of trading... which consist of two trades.

One in S&P. which was a short that I waited on all day. had to leave the house, and stopped myself out for a tiny little profit.

The next one in Crude was much more interesting. In short I was, well... short and very immature with the trade. Let me play this out for you (or myself in case nobody really reads this thing). I woke up glanced at the charts and put on a trade. took the dog for a walk and was stopped out. not a big loss by any means, but I'll be damned if I didn't break every single one of my rules lol. I put on the trade in the exact opposite of what I should have done. This could be drug out into a big mind F*#@. but I won't do that to you or myself..... I'm just kidding. I am going to drag this out.
I put on this trade and right off the bat broke my big rule. enter on retracements and trade in the direction of the major bias!! what the heck! I was just telling my buddy about that one bad day I had where I was trading with a dartboard. Then what did I do? EXACTLY THAT!!
Let consider that for a second, what if I had been explaining to him a great day? was I putting more focus and energy on that bad day instead of focusing on the good days and the good trades? I mean one would think that is irrelevant, but I don't think so. I think a big step in making a great living out of this is forcing your subconscious mind to know every little detail of a good trade in and out. essentially gaining unconscious competence. and right now I am consciously incompetent. Or I had a moment of it at the very least.

I think of the subconscious mind like a fertile garden that unless the proper seeds are sown it will get full of weeds and damned critters. I think I read that in Think and Grow Rich. but it is how I feel. but why is it that when I have the opportunity to sow seeds of success and become a great trader little stuff like that get in there?

I think I figured it out. actually while I am writing this I am figuring something out. I need to ingrain into my mind day and night the proper seeds. but what do I do with the bad moves I make? I learn from them and turn them into positives. Ex. Bad trade, get in to early and get stopped out, okay okay. first off that's not all bad. my overall trade wasn't jeopardized. If the trade is still valid I can get in at a better spot. but what went wrong in the first place? I was in to early and should have waited, what could I have done to prepare better for that? did I not wait for a good confirmation? probably not. to summarize I can take a loser and take lessons from it and continue to put good seeds in my garden. Admit, a person could have looked at that trade and put away as,"the market is against me! I can't believe that BS happened! I am a bad trADER" etc etc.

This is where I need to work for the next week.

Also I will note that this morning I DID NOT do my routine and affirmations... I guess I didn't let myself settle down first. but I will say that I was in a totally different frame of mind for the entire day.

Well Thats really all I have right now. if you could make any sense of that it I give you props.

Sliebler out

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  #16 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

Recent mess ups

I have been trading crude oil because it has been a perfect market for my setups.

The problem I have been having is entries, and proper stop placement.

I think I need to more correlate my stop distance with my targets and look closer to the levels.

More later

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  #17 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

Weekend Journal Entry

I haven't been trading very often... and I know that doesn't make for a very exciting journal. I think, though, it let's me really sit back, ponder and observe my trades and really think in terms of how trades really apply to life and more importantly life applies to trading.

There are things in trading that can teach a person about life, and the same goes for life applying to trading. I can't count the times that I have just been enjoying my day and things just click. Something happens that ultimately answers a question in regards to trading.

I think that this works for everyone and their trading styles. And for me that is watching markets and taking a few trades when the time is right.

I need to talk about how all this ties into my recent trades. My best example would be my crude oil short the other day that I was stopped out of before the move was initiated. This was extremely discouraging, I knew what needed to be done. I knew my odds and I still couldn't take full advantage of the move. I know I talked about this in a previous post, but it really made me wonder what mental barriers were in my way of reaching my goal and really creating a measurable system. Obviously there was a variable in my system that was out of place to keep me from initiating a profitable edge and one with high probabilities at that.

But I think that it takes on a new meaning when you think about it in terms of your "Mental Edge" and having the ability to trade like a professional. that in itself makes for a profitable trader. Probably more so that the best edge in the world. And in the quest of achieving that goal there is a fine line between life and trading that should be noticed. ot at the very least they are one in the same with a blurry line between them. Noting that lessons in life can improve and be applied to trading. and lessons from trading can clearly be applied to life and make it significantly better. This may be obvious to some. To me its fascinating and an additional point of inspiration.

I guess that trading is just a way to learn and grow as a person. just as anyone could make anything into a growing experience. trading is mine. and with every trade there comes a considerable amount of learning and growing. which may be why I prefer to trade so little. because I enjoy putting a large amount of weight and meaning to trades. learning from every single one..

More later.

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  #18 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

Hmmm

I really have some work to do, I haven't been writing in here for a while and that isn't good.

But What I need to focus on is what is going on that I can't seem to catch a break


I have been trading crude oil and it is like it is always one step ahead of me.

This journal has become more of an emotional/mental journal as opposed to writing about all of my trades in detail.

Which is what I feel I need. So, what I am going to try and work on is figuring out why at the beginning things were fine, my edge was working and I could manage some good trades... and now I can't seem to win. something happened.

I trade options outside of the combine and I have done wonderfully... is it the pressure of the combine? am I letting the rules of the combine deter my focus and keep me out of trades I would normally take to make money?

These are the questions I am going to work on this weekend.

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  #19 (permalink)
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Slieber View Post
I really have some work to do, I haven't been writing in here for a while and that isn't good.

But What I need to focus on is what is going on that I can't seem to catch a break


I have been trading crude oil and it is like it is always one step ahead of me.

This journal has become more of an emotional/mental journal as opposed to writing about all of my trades in detail.

Which is what I feel I need. So, what I am going to try and work on is figuring out why at the beginning things were fine, my edge was working and I could manage some good trades... and now I can't seem to win. something happened.

I trade options outside of the combine and I have done wonderfully... is it the pressure of the combine? am I letting the rules of the combine deter my focus and keep me out of trades I would normally take to make money?

These are the questions I am going to work on this weekend.

I shall be interested to hear what you come up with. I read your journal. It started with some excitement and promise and now its more about fixing something inside. It always comes down to this. Fixing whats inside. And now that you're there, I am very interested to hear the results.

Cheers

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #20 (permalink)
Trading Apprentice
St. Louis, Missouri, United States
 
Futures Experience: Intermediate
Platform: T4, MetaTrader
Favorite Futures: Energy Futures
 
Posts: 25 since Aug 2013
Thanks: 2 given, 15 received

The weekend of pondering


Like I said in my last post, I was going to spend the weekend really thinking over WHY the combine has been as difficult as it has been, compared to my other trading. I am sure a lot of people experience this given the mental strain and stress that comes with the combine or a funded account. It is something that causes emotion which naturally causes blurred decisions.

But I had a good point of reference this time that really helped me get a good picture of what was going on. and let me lay that out in detail, my problems.

So here is a breif overview of the information I am working with. Minus any trade strategy details.

I have a 30K 20 day combine. of which I am far from passing. This due to my lack of good trades lol.

My reference point,

I have a 25k option account of which within the first three days of trading (if it was a combine) I would have been cleared for take off. given I will need to prove myself for the additional 17 days, I could manage the wins. but regardless, these trades have been effortless and rewarding.

So with these two situations, the combine rules and guidelines, and the differences and similarities laid out in front of me, I am able to really take a look at this.

?'s (1) What are the differences in emotion, (2) thought process, (3) decisions to make trades, (4) reasons for making trades, (5) and end results of trades? these are a few questions I had to answer.

OPTIONS ACCT:
1. I had no emotion, I made the trades based purely on my "system"

2. I was looking very objectively at the markets and found the opportunity based on this thought process, Where is the market going? How is the current market behaving in relation to that direction? are there good indications that the market is still goin to beave properly, good enough to make a green trade? are there any contradicting indications that would make for an invalid trade at the moment? What will need to happen to require me to re adjust my technical analysis and the market? do I have the piece of mind to know that if something goes drastically wrong I can protect myself? no forcing the trade, just clear reasoning and no second guessing.

3. as mentioned before the opportunity was clear and I seized it

4. I based my reasons for the trade on my system and knowledge of the market, knowing that I had the odds in my favor and I saw my target far in advance. I focused on the markets action, and made the trade. I focused on the opportunity and the set up because I knew it was good. The only "risk" I was taking was calculated into the odds.

5. Trades ended in success.

FUTURES:

1. My emotions are controlling, they are constant and demanding, I have emotions from the second I look for a trade

2. My though process is, where can I get in that I won't get stopped out? Where is the market going to turn around that it won't hit my stop? How can I place my stop that won't be to much risk and at the same time will not get stopped? Is the market going to go up or down? I don't know what I am doing... this is crazy I need to just make the trade. ( this is really what happens, I totally lose my ability to clearly identify my trading opportunities)

3. my decisions to make trades have been purely based on my idea that I need to just make the trade and try fight through my emotions...

4. My reasons for making the trades were because I thought that I might have good chance of not getting stopped out...

5. trades... well you know how they ended up...



The weekend really didn't give me any good ideas or solutions. It wasn't until I opened up my accounts today that it really hit me, what I had been doing with my options trading was purely focusing on my system and development of trades, looking entirely at what the market will do...

Compare this to my combine and every trade I have been making in it... I have put my entire focus on entries and stops. Trying SO hard to get an entry that wouldn't get stopped out! That is something there. Personally I believe that the way one looks at the market determines the actions taken... so With this information, it is EXTREMELY clear that I was simply looking at these two markets in separate ways. which ultimately (IMO) determined the outcomes and results.

I have traded option with an opportunistic and objective perspective and I have been trading futures with a fear and indecisive perspective. It is obvious now how incredibly skewed I allowed myself to get. I spent a lot of energy worrying about my loss limit and draw-down that I was unable to identify good opportunities or even effectively use my edge the way I intended and designed it. Which answers my question as to why I had some success at the beginning and now I am seeing nothing but failure.

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