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The Bolt Trader Journal
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The Bolt Trader Journal

  #241 (permalink)
Elite Member
Bend, OR
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Broker/Data: TOS, Global Futures/OEC
Favorite Futures: CL, GC, NG, YM, 6E, ZN
 
Tap In's Avatar
 
Posts: 913 since Feb 2013
Thanks: 2,069 given, 1,860 received


BoltTrader View Post
Sick - Little sleep - Before doing any part of my morning prep I glanced at the charts and tried to catch a bottom. Why? I don't know! So stupid! I did it last week too. Before I knew it I was about $850 down. Finally, I stopped trading and took a break but even after returning I was never in sync with the market. The two best setups that I saw missed getting filled by 1 tick.

My real problem today was that I kept trying to trade what I thought should happen instead of what the market was saying would happen. At one point, I almost got back to break even and then ended up about $1,000 down. By the end of the trading day I did manage to micro scalp my way back to plus territory but with commissions I figure I am about $100 down. I will post my trade report later.

What did I learn?
  • I need a good night's sleep
  • I don't trade well when I am sick - I am just not mentally there
  • Absolutely, MUST do my morning routine before ever even thinking about entering any trades
  • Overtrading is mentally exhausting

Unfortunately, I already knew all those things or at least I thought that I did. If I really knew them I wouldn't be committing the same mistakes again. I need to do some self-examination and apply some strict discipline to my trading.

coming back twice from deep draw downs is positive in its own right. Well done!

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  #242 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Trade Report for 2/23/15

Here is the Live Trader Preparation report for today:

Crude (CL)

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  #243 (permalink)
Elite Member
Neuwied Germany
 
Futures Experience: Intermediate
Platform: NinjaTrader 7
Broker/Data: AMP, CQG
Favorite Futures: Bund future
 
Posts: 712 since Jul 2013
Thanks: 2,104 given, 1,202 received



BoltTrader View Post

My real problem today was that I kept trying to trade what I thought should happen instead of what the market was saying would happen. At one point, I almost got back to break even and then ended up about $1,000 down. By the end of the trading day I did manage to micro scalp my way back to plus territory but with commissions I figure I am about $100 down. I will post my trade report later.

What did I learn?
  • I need a good night's sleep
  • I don't trade well when I am sick - I am just not mentally there
  • Absolutely, MUST do my morning routine before ever even thinking about entering any trades
  • Overtrading is mentally exhausting

Unfortunately, I already knew all those things or at least I thought that I did. If I really knew them I wouldn't be committing the same mistakes again. I need to do some self-examination and apply some strict discipline to my trading.

What do you mean with that? What have you done?

Waiting, Discipline and Patience Pays!
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  #244 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Initial Trades

Took 2 small LONG losses at low of channel. After the first loss, I kept my stop too tight on the 2nd entry and was stopped out. 3rd trade was a winner. Down about $130

Crude (CL)

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  #245 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Missed Trade

Looking at entry for leg 2 (usually a measure moved). However, I waited for confirmation on the entry, put a limit order on, but it didn't pull back far enough too fill me before taking off.

Crude (CL)

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  #246 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

No Idea Where I am at

Big mess up on connection this morning and I have been on the phone with TopStep Trader. They closed out my orders but they were still showing on my chart. So they had me close NT and reopen. When I closed my connection it showed me still having open orders actually more than I placed. Then when I opened NT again it showed everything closed and my balance at -$50. However, I actually have no idea where I am at and what happened on my trades.

I have to leave to take my niece to school. Will check back with them when I return.

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  #247 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Another Missed Trade

Called TST and am waiting to hear back from them. As a result, I passed on this trade.

Crude (CL)

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  #248 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary


pipandrun View Post
What do you mean with that? What have you done?

I traded when NOT mentally sharp and mentally prepared. In my opinion, you need to do your morning prep which includes knowing where the market is and what it is doing. Without this you have no plan and just end up gambling. At the very minimum you should have a trading bias and then have ideas in your mind of areas where you want to be looking to enter short and long.

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The following user says Thank You to BoltTrader for this post:
 
  #249 (permalink)
Market Wizard
Phoenix + AZ/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 505 since Jul 2014
Thanks: 2,471 given, 822 received
Forum Reputation: Legendary

Frustrated

I am going to start trading pretty soon. Here is another missed trade while waiting to hear back from TST.

Crude (CL)

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The following user says Thank You to BoltTrader for this post:
 
  #250 (permalink)
Elite Member
Neuwied Germany
 
Futures Experience: Intermediate
Platform: NinjaTrader 7
Broker/Data: AMP, CQG
Favorite Futures: Bund future
 
Posts: 712 since Jul 2013
Thanks: 2,104 given, 1,202 received



BoltTrader View Post
I traded when NOT mentally sharp and mentally prepared. In my opinion, you need to do your morning prep which includes knowing where the market is and what it is doing. Without this you have no plan and just end up gambling. At the very minimum you should have a trading bias and then have ideas in your mind of areas where you want to be looking to enter short and long.

Thanks. I understand. I mean, what do you do when you´ve said: "I did manage to micro scalp my way back"
This sounds interesting, like a "secret weapon" helping you out of a desaster......

Waiting, Discipline and Patience Pays!
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