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FogTrader Journal, Tabloid, Comic Book


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FogTrader Journal, Tabloid, Comic Book

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  #1 (permalink)
Springfield MO
 
Experience: Intermediate
Platform: thinkorswim (TOS)
Trading: Index Futures, Option Premiums
 
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Posts: 8 since Feb 2015
Thanks: 0 given, 2 received

Well, I'm going to give this public journal idea a shot. I could definitely use the benefits that BM says come from a public journal!

After dabbling in the markets for several years and seeing no consistency with my trades, it really is time to get my act together and make this work. So step one...create a Journal of my actions, which likely will be more of a Tabloid or Comic Book of my not so smart trade choices.

I have a feeling this journal will be very embarrassing initially, but that is OK because it's likely exactly what I need.

Today, I'll be looking to do some NADEX Binary Option trading as that recently caught my attention. Short attention span here, so who knows what's next.

Happy March '15, Happy New Highs, Happy Bulls...but take note all you Happy Hippies what goes up must come down!
... Contrarian view to that is Malaysia Airlines Flight MH370, which apparently didn't come down but instead floated out into deep space....maybe that new black hole they discovered had a appetite for aluminium last year.?.?

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  #3 (permalink)
Springfield MO
 
Experience: Intermediate
Platform: thinkorswim (TOS)
Trading: Index Futures, Option Premiums
 
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Posts: 8 since Feb 2015
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Well, I managed to get a NADEX trade in today. Only had 1 setup I liked, it settled in my favor. So a score of 1 out of 1, banking a whopping $18.00. LOL. But hey...much better than a loss!

Reminder to self....PATIENCE WILL PAY OFF!!!

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  #4 (permalink)
Springfield MO
 
Experience: Intermediate
Platform: thinkorswim (TOS)
Trading: Index Futures, Option Premiums
 
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Posts: 8 since Feb 2015
Thanks: 0 given, 2 received

Continued my venturing into NADEX today. Was able to work 6 different trades, to my surprise all 6 either expired in my favor or I was able to close in my favor. Plus, managed to bank over 6 times what I did yesterday.

Hmm...If only every day was a 100% hit rate and a multiplier of 6x the prior days win...
But yeah, we all know what normally comes a day or two after this happens!

Reminder to self....Don't get a big head and go off the reservation in the next couple days!!!
Goal: When the loss day comes, keep it small!

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  #5 (permalink)
Springfield MO
 
Experience: Intermediate
Platform: thinkorswim (TOS)
Trading: Index Futures, Option Premiums
 
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Posts: 8 since Feb 2015
Thanks: 0 given, 2 received

Overall, uneventful trading day. Didn't have much free time to look for trades. Was able to get 1 NADEX trade in for a small profit.
Starting to get a touch nervous with all these wins in a row. Could setup for a long losing streak. I'd much rather have a consistent stream of winners and losers mixed together than a long string of wins followed by a long string of losses.

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  #6 (permalink)
Springfield MO
 
Experience: Intermediate
Platform: thinkorswim (TOS)
Trading: Index Futures, Option Premiums
 
FogTrader's Avatar
 
Posts: 8 since Feb 2015
Thanks: 0 given, 2 received

Continued my win streak. Only placed 1 trade today, again it was a NADEX trade. Closed it early for a $23 profit. Could have held it till expiry for an addition $17....probably should have done that but with the market whipping back and forth over the strike I felt it best to lock in the profit when I could...didn't want this to become the day that broke my win streak. I'm sure we are getting close to that day though!

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  #7 (permalink)
Springfield MO
 
Experience: Intermediate
Platform: thinkorswim (TOS)
Trading: Index Futures, Option Premiums
 
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Posts: 8 since Feb 2015
Thanks: 0 given, 2 received

Finally had some time to put on more than 1 or 2 trades.
Ended the day with placing 16 NADEX trades, of these 9 were losers and 7 were winners, with a net profit of $43.00.
Reviewing my trades and notes it became clear that the low risk, low probability trades just didn't pay off. I'll work on adjusting my trade plan to keep this in mind for the future.

Overall the week was great since every day was an up day on the account.
Will spend the weekend reviewing some setups and reading some trade psych books to help prevent this week of winners from affecting me in bad ways.

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  #8 (permalink)
Springfield MO
 
Experience: Intermediate
Platform: thinkorswim (TOS)
Trading: Index Futures, Option Premiums
 
FogTrader's Avatar
 
Posts: 8 since Feb 2015
Thanks: 0 given, 2 received

Had good trading days both yesterday and today. Continued to stay with NADEX. I'm finding the short expiry time of the Nadex binaries are forcing my to focus much better on trade setup and timeframe of the setup.

Both days were green. Winning 5 out of 5 on Monday for a 24.5% gain. Winning 14 out of 17 today for a 18.8% gain today.
I did make mistakes today with 2 of my 3 losers though...my trade plan is to stop out when the strike gets violated for longer than 10 seconds. Had I obeyed the plan I could have cut the loss on each trade by half. I've made bold and highlighted notes in my trade log regarding this. I've also noted that my 3rd loss occurred while in "dark time" so I am considering modifications to my trade plan which would require me to close the trade if there is $5.00 or less left to gain.

I scored a D+ on today's trading, due to the violation of my trade stop rule. Had I not missed those 2 stops I would have been an A today.

This post is hereby set in stone for eternity!

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March 10, 2015


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