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Eclipsemf's ES Journey
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Created: by eclipsemf Attachments:22

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Eclipsemf's ES Journey

  #11 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/18 Update Over 3% in 4 days!

Today was a very short day of trading. I got called back in to work a day early so I could only take the first trade of the day this morning which happened to be right at 9:30. It was a quick profit of 112.50$! which I had gotten out right at the bottom of the market so I had the stop placed exactly where it should have been. That concludes this week of trading with just 1 contract. I will still be trading as much as I can when i have days or even mornings off, until I start full time. For this 4 day period I made $365.80 which is 3.05% of my account currently which I am very please with. I have nothing I would want to change from today. I executed everything according to plan and turned out for a smooth trade!

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  #12 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/20 Update

So with the small success I had last week trading I decided to finally upgrade to and Elite member on here! There was a lot of info I felt I was missing out on! I will still probably keep this journal going instead of moving it to the elite section unless there is an easy way to go about it. Hopefully I will have a little time off here and there before October to do a little more trading before it becomes a "full time" thing.

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  #13 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/22 Update


My boss has been seeing some of the little success I am having so he is working on giving me as much time to trade in the mornings as he can. It pretty much gives me the first hour to hour and a half but it will do for now! I have a little bit of a hectic morning 30 minutes before the market opened, right as I logged on to my computer my router decided to take a dump. So I ran to staples and back and had the new one up and running 12 minutes before the market opened! I thought about taking this as an omen that it was going to be a bad day and not trade but I know what my back testing results are and decided to take any trades that had the proper set up.

I ended up just taking the first trade of the market around 9:36 for a quick profit of $112.50 that puts me at 5 days in a row in the green! and just shy of 4% growth over that span! And I got out just in time for the market to slam in to some heavy consolidation! Ill be back with an update tomorrow if I get the chance. I also wanted to ad that this trade had very little emotion put in to it which I see as a great step forward! Getting the emotions out of it was my biggest hurdle and it seems to be diapering very fast!


Last edited by eclipsemf; September 22nd, 2014 at 06:45 PM.
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  #14 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/23 Update

Today was another perfect open to the market! Took another 112.50 out of the market and puts me almost half way to up sizing my position to 2 contracts so I can have a runner and take advantage of some of the profit I leave on the table: today for example with out a runner I left 1.75 more points on the table if I had let this 1 contract run to my exit point. But where I am just starting I figures the security of having a fixed exit would be for the better. My entry in to the market again was just how I had practiced and no longer have any hesitation. Although I did miss a good set up while writing this but I didnt have enough time to stay in it because I have to leave for work, but I can not complain with what I have done in this little amount of time!

As far as the psychology goes I have been making leaps and bounds over the last week. I know it does make it easier that I am on good winning streak but I started measuring my heart rate before during and after the trade and it stayed exactly the same (72 BPM). It may be a little high but at least it is staying consistent which I am very happy with because it am not getting any "rush" from entering trades which is awesome.

6Day totals 577.12 Profit at 4.81% increase!

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  #15 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/24 Update

We had yet another perfect open to the market! I got both of my go signals right at at 9:30 and finally got filled at 9:33 When it finally dropped to where I wanted it, I made sure to not chase the market on this trade as I figured it was going to be very quick and volatile. I got out 1 tic below the high of the morning market, but this time I managed to squeeze a little more money out of it for a 150$ profit putting my total account growth to 6% in just 7 days. I had a lot of people saying that these type of results were not possible but I believed what my back testing results showed and decided to pursuit it. But I do understand that complacency can kill in this line of work and the market can humble at any point with no remorse. Even though I have been on an incredible run these past days but I do expect to take losses roughly 25% of the time if I execute perfectly according to my back testing results over the long haul.

I do have all day to trade but I think that is all I am doing because the market has started moving a lot in very little time periods and I know from past experiences not to mess with it! Hopefully I will be back at it tomorrow!


And for anyone that is newer in this market and wants to try to emulate my method I will tell you not to copy what you see in the first few attachments that I posted my older version of this method. It may result in some profit but it may not be sustainable over the long run!



I have attached a picture of my updated spread sheet with my data up to this mornings trade.

Attached Thumbnails
Eclipsemf's ES Journey-sept-24th-spread.png  
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  #16 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/25 Update

I took my first loss today! Just a small 75$ loss which is to be expected with this type of business. My execution was perfect there just happen to be a small pull back that proved to be too big for my smaller stop loss that was in place. If I had my stop loss about twice the size I would have lived through the trade and turned a good profit as the market went right down to where I had expected, but having that larger of a stop is not with in my trading plan. Although it was a losing trade I am still happy with my execution and calm manner when the trade started to turn against me.

After the trade had completed I am a little frustrated that I was completely right on the direction and magnitude of the decline of the market. I did have a small urge to get back in the market because I knew what it was going to do but didnt because I know that that is completely against my trading plan and I know if I do not practice good discipline I know I stand no chance of succeeding in this business.

I am watching the market until 11 so I will update this as needed if another trade opportunity comes up.

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  #17 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/29 Update

Another morning of good trading with a positive outcome! I took another 2 and a quarter points out of the market, which is a nice rebound from the loosing trade I took last Thursday. This puts me at a new high of 6.2% total profit! Today was a good try of my patience as the market quickly pulled away from where I wanted to enter but it happened to come back down to my point and was glad I didnt chase it because I would have been stopped out if I were just one more tic higher on my entry. Sometimes a little luck never hurts!

And just a little information for my future in trading. I am still going full time with this starting October 6th so one week from the posting of this. I currently am only taking one to two trades per day but I will be taking every executable trade from 9:30 to noon once its Oct. 6th or my account has increased but 10% which ever comes last. After at least another 5% (15%) total I will be increasing my position size to 2 contracts so I can take advantage of a runner which would have gone along way in this mornings market. That would put my account roughly at 14k give or take. I will be trading like that with a 6k delta, so every 6k more my account increases I will add another contract after I evaluate my plan again to make sure I feel comfortable increasing it at the point. That would put me trading 3 contracts by 20k worth of account value. I will be back with another update post tomorrow.

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  #18 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,229 received

Nice job journaling @eclipsemf.

I want to let you and all your readers know that in October futures.io (formerly BMT) has a Trading Journal contest w/prizes. The contest runs October 1 to October 31, and the three best journals (as decided by futures.io (formerly BMT) members) will receive a 150K combine from TopstepTrader.

The contest thread is here:

https://futures.io/feedback-announcements/33355-october-trading-journal-contest-w-prizes.html

That thread will be open for posting starting Wednesday, October 1. As the author of your journal, you need to make a post in that thread linking to your journal, and then ask users to press the "Thanks" button on that post if they want to vote for your journal to win the contest.

Members can vote for as many different journals as they want. Votes are cast in the Contest thread only, and only on the first post made by the author of the journal that contains a link to their journal. This is done so I can easily count the "Thanks Received" by author/journal, and award the three prizes.

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  #19 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

9/30 Update

Took another 75$ loss this morning. This one was largely to blame on a mistake I made rather than my setups. I know I have to be cautions when there is a larger gap bear with in the last 10 of the premarket as that will cause some initial set up problems for entering my trade. I completely over looked a 3 point bar that was 8 bars before the market opened which gave me a false signal when the market opened. I ended up taking the trade because I missed seeing that this morning which was cause for the loss. I will be watching till 10:30 and will re post if anything new comes up.

A little after I posted this I got the market turn around I was expecting but I missed entry by a quarter point from where I wanted to get in, because I never want to be chasing the market as I know I will loose money that way! With that being said I am done for the day because I dont wanna get the urge to revenge trade because I missed one trade and screwed up on another one. Done for the day will be back tomorrow.

One thing I want to comment on from today is my work ethic side of this discipline. I have never been late or missed a day of work in my normal 8-4 jobs that I have had to this point, which would make it hard to skip a day of trading. I am currently a little under the weather with a small head cold. I think I really need to add a clause in my trading business plan for days off as needed if not feeling 100%. I always want to push through regardless of my ailment but I think in the business where there is a lot more thinking than my other jobs I need to slow my roll when it comes to going to work just because of my my pride got in the way and really do what is best for me that moment!


Last edited by eclipsemf; September 30th, 2014 at 11:20 AM.
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  #20 (permalink)
Elite Member
Manchester NH
 
Futures Experience: Intermediate
Platform: Thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: /ES
 
Posts: 87 since Feb 2014
Thanks: 29 given, 55 received

10/1 Update


I took one of the first trades of the morning which I had to chase just a little, 1 tic to get filled. Everything I was watching supported a big down slide in the market to start so I figured it was worth a small chase. The market actually was moving too fast for me to move my limit orders to take more profit out of the market so I only managed to get 2.25 points from this mornings large slide. I was feeling much better this morning so I decided to take to the market instead of taking a day off. Hopefully tomorrow I can get another winning trade so I can get out of this little funk of just swapping wins and losses every other day, even though my account will still grow slightly this way. I need to call it quits for the day and go to my other work, but when I get back my next update will be a reflection of my September results so stay tuned for that!

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