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New Beginnings Trade Journal
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Created: by BoltTrader Attachments:30

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New Beginnings Trade Journal

  #21 (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

6E Trade on 5.21.15

Took a 2S Continuation entry with 2 contracts. Good for +11 each.

Euro FX (6E)

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  #22 (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


dix173 View Post
Did you consider to let the winning ones run? Seems lots money left on the table. Probably you can just set a stop to protect your 2nd profit target once it's reached? I'm not saying letting winning one run will for sure give you better PnL but just want to see your reasoning of setup.

Being honest, mentally it is too difficult for me to do. I have a lot of baggage from the past that I still struggle to overcome. I use to trade like that and watched too many large winners turn into modest gains or small losses. I hate giving money back. Really the most that I am able to go for now is 22 ticks which actually is perfect for Crude (CL). I have been toying with the idea of +30 but that will probably be somewhere in the future.

I have no problem leaving money on the table for others to enjoy. In addition, all I have to do is add a contract to my first target and I will increase my earnings. Basically, my plan when I get funded is to trade the first 5 contracts for target 1 which is over $500 after commissions. The next contract I intend to let run to 22 ticks or get stopped out. The next 5 contracts will be for target 1 and then the following contract will be a runner to +22 ticks. So basically, 10 contracts for +11 and 2 contracts +22. Any additional contracts beyond that I will add to T1.

I am not worried about what others think, I don't need big trades to feel good as a trader and I have no problem paying commissions they are just part of doing business and I can still earn a nice paycheck. Think about it, 1 successful trade a day with 5 only contracts is about $525 after commissions. TopStep Trader pays 80% which means you are earning about $400 / day before taxes. Do that 20 days in a month and that is $8,000. Do that 220 days a year and that is $88,000. Add one more contract and you are over 6 figures with just 1 successful trade a day.

Hope this answered your question.

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  #23 (permalink)
Elite Member
SD, California
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Interactive Broker
Favorite Futures: ES, NQ
 
Posts: 62 since Oct 2013
Thanks: 81 given, 55 received



BoltTrader View Post
and watched too many large winners turn into modest gains or small losses.

Yes I also had some problem and it's super painful to me. Now I normally book half at 1st target and leave 2nd half there; I want to read the context for the 2nd half, if momentum is still there I more likely to let it run otherwise, place a stop to protect profit and set a limit order for 2nd profit target.

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  #24 (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

TST Trade Report for 5.21.15

I kept having to leave, come back, leave again for my daughter and wife today, so the trading from midmorning on was hit and miss. Overall, I took too many trades but ended up about $375 to the positive which I am pleased with. Too tired to go back and do my end of the day summary so tonight is just the trade reports. Here they are:

Crude (CL)

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Euro FX (6E)

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Gold (GC)

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I figure with the holiday weekend any trading tomorrow needs to be done early so I am going to bed here shortly. Hope everyone had a great trading day!

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  #25 (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

Regret my decision to NOT trade today

I decided NOT to trade today because of the holiday and figured I would resume trading next Tuesday. I glanced at the charts to see what the morning looked like and wow do I wish I would have traded. Here is a chart of CL with the trade setups from 8:00am EST on:

Crude (CL)

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  #26 (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

Simulated Trade for 5.26.15

I was unable to trade the morning session today so I took 1 simulated trade around 2:00 pm (EST). It was with 3 contracts for +11 ticks. A net of $318.96 after commissions. Here is the picture:

Crude (CL)

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  #27 (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

End of Day (EOD) Picture for 5.20.17

My goal for the day was 2 positive trades with 3Ks each @ +11 and stop. Goal reached but I had a small loss with 3Ks along the way. Here is the picture:

Crude (CL)

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  #28 (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

TST Trade Report for 5.27.15

Here is my TST Combine Report for today:

Crude (CL)

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I am getting back on track again!

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  #29 (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

Just Getting Home

I just got home a short while ago and it is already after 11:00 pm (AZ time) and since I am trying to get to bed earlier I am just going to post a picture of my Gold trade taken yesterday and my Continuous Combine Journal Entry for the day.

Gold (GC)

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When the Bible says, "Pride leads to a fall." it is so true. I reached my profit goal early on today but instead of switching to my simulated account I was determined to get one more good trade with 3 contracts of +11 each. However, instead I gave back most of my profits and am thankful to end the day POSITIVE. Lesson: When I reach either my profit goal or my trading goal stop for the day!

Journal for 5.28.15

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  #30 (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

TST Trade Reports for 5.28.15


Here are my trade reports for today:

Gold (GC)

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E-Mini Dow (YM)

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Crude (CL)

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Euro FX (6E)

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