Papa's Trading Journal - Trading Journals | futures io social day trading
futures io futures trading


Papa's Trading Journal
Updated: Views / Replies:47,313 / 566
Created: by papa15 Attachments:174

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 174  
 
Thread Tools Search this Thread
 

Papa's Trading Journal

  #341 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

Here are the rest of the marked up charts showing discipline issues
Papa15

Attached Thumbnails
Papa's Trading Journal-mistakes-3-23.png   Papa's Trading Journal-mistakes-6-7.png   Papa's Trading Journal-mistake-8.png   Papa's Trading Journal-error-9.png   Papa's Trading Journal-error-10.png  
The following 5 users say Thank You to papa15 for this post:
 
  #342 (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: 29,354 given, 83,237 received


papa15 View Post
Mike
I appreciate you taking the time to write with a broken hand. I know it must be painful.

Here is the list of my discipline issues as I see them:
1. Lack of patience/anxiousness to be in the market
2. Not honoring stops
3. Not looking at all indicators/price action factors before entering a trade
4. Not checking risk/reward prior to trade
5. Trading setups not in plan
6. Not cutting losers early
7. Overtrading
8. No daily loss limit
9. Using indicators without testing
10. Inability to turn off screens when finished for the day (need to give it a rest)

I will work on marking up charts showing at least 10 things I did wrong. Will take a little time. Will also work on showing blank charts with my guidelines straight from my trading plan.

Thanks again for your time. I do hope the surgery went well.
Papa15

Fantastic list. Print it out. Make it your forum signature. Glue it to your head. Do something, anything, to not loose sight of it.

I encourage you to stick with this exact list for quite some time. Months probably.

I suggest #7 and #10 as they are simple to solve, but pick any two on this list and make them your primary objectives. Every day, your goal is to accomplish these two things. Nothing else matters. Nothing else.

If you pick over trading and turning off computer when done, this is how it looks:
- Establish a set number of trades you are allowed per day. I recommend between 1-3. You pick the exact number, but I recommend it be exact not a range. Like 2. Or 3.

- You will, no matter what, take those trades. You will not take fewer than. You will not take more than. I recommend this be inclusive of sim+cash. So trade cash if you want, trade sim if you want, but treat them the same - do not count separately.

- When you've executed the last trade, announce it. Make a forum post immediately, "done for day, details coming". Commit to it. Tell friends on skype. Lock yourself into it. You will not, under any circumstances, continue to trade that day. Not only that, you will step away. You will not screw with charts. You will make your journal post and then you will step away. You will live life. Find something to reward yourself, like you will go and call a grand child and ask them how their day was. Make it a ritual. You will go walk around the block. You will watch sports center. Whatever it is, it is reward, and routine. It is encouragement to leave your office and not come back for a few hours.

- Share with us your success each day. Be honest. Did you take the correct # trades? Did you leave your office?

- Do this ever day for 2 weeks at minimum. Do not care about anything else on the list.

- After you master this you can cross it off your list, mission accomplished - you now know how to not overtrade and you now know how to leave your office at end of day. You now pick two new things off the same list.

You will succeed. You control it. You make it happen, and nothing is holding you back. Trade minimum lot size during these two weeks. Trade sim if you need to, although cash is better if you can.

I want to read everyday about these two things. Every day. And I don't want to read about 'new' concerns, those are not allowed right now. You have a list of 10 things. This is 2-3 months of homework if you are focused. No need to think about anything else for a while. It's a great list, you need to accomplish these.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following 6 users say Thank You to Big Mike for this post:
 
  #343 (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: 29,354 given, 83,237 received


Excellent job on markup charts.

If you pick method things as your two things, questions to ask: Can someone else, in this thread, follow your method? What part of your rules are impossible to realistically follow, if any? How much discretion? What is leading to success and failure, is it the method or is it lack of following the method.

Also I am big on the reward and accountability stuff. You are trading for your grand kids, right? You have to find right balance of accountability without over stress.

For me, I used to send all trades to a friend and he would call me an idiot if I took stupid ones not per my plan. For you, can you involve someone? Pick someone in the thread, and allow them to act as this person to you? Maybe you can pick something like a family member, and when you meet your goals (the two you will pick on your list --- nothing to do with profit) then maybe you can do something rewarding together, to incentivize you and make you accountable.

We all know you want to do the right thing. But you need to find a new way to get your mind, body, soul on board with you.

Sorry it is hard to write this type of post on pain meds and with one hand. Hope it has made some sense. We are here for you. You will succeed.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following 5 users say Thank You to Big Mike for this post:
 
  #344 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received


Big Mike View Post
Fantastic list. Print it out. Make it your forum signature. Glue it to your head. Do something, anything, to not loose sight of it.

I encourage you to stick with this exact list for quite some time. Months probably.

I suggest #7 and #10 as they are simple to solve, but pick any two on this list and make them your primary objectives. Every day, your goal is to accomplish these two things. Nothing else matters. Nothing else.

If you pick over trading and turning off computer when done, this is how it looks:
- Establish a set number of trades you are allowed per day. I recommend between 1-3. You pick the exact number, but I recommend it be exact not a range. Like 2. Or 3.

- You will, no matter what, take those trades. You will not take fewer than. You will not take more than. I recommend this be inclusive of sim+cash. So trade cash if you want, trade sim if you want, but treat them the same - do not count separately.

- When you've executed the last trade, announce it. Make a forum post immediately, "done for day, details coming". Commit to it. Tell friends on skype. Lock yourself into it. You will not, under any circumstances, continue to trade that day. Not only that, you will step away. You will not screw with charts. You will make your journal post and then you will step away. You will live life. Find something to reward yourself, like you will go and call a grand child and ask them how their day was. Make it a ritual. You will go walk around the block. You will watch sports center. Whatever it is, it is reward, and routine. It is encouragement to leave your office and not come back for a few hours.

- Share with us your success each day. Be honest. Did you take the correct # trades? Did you leave your office?

- Do this ever day for 2 weeks at minimum. Do not care about anything else on the list.

- After you master this you can cross it off your list, mission accomplished - you now know how to not overtrade and you now know how to leave your office at end of day. You now pick two new things off the same list.

You will succeed. You control it. You make it happen, and nothing is holding you back. Trade minimum lot size during these two weeks. Trade sim if you need to, although cash is better if you can.

I want to read everyday about these two things. Every day. And I don't want to read about 'new' concerns, those are not allowed right now. You have a list of 10 things. This is 2-3 months of homework if you are focused. No need to think about anything else for a while. It's a great list, you need to accomplish these.

Mike

Mike
Thanks for the feedback. It means a lot to me. For the first two issues to address, I chose "Trading setups not in plan" and "Overtrading".

I have 2 setups:
1. Breakout/breakdown of an inside bar on a 15 min CL chart.
2. The ergodic setup: I use a 233 tick and a 610 tick chart.
a.. Trade in the direction of the Long Term Ergodic (it is the intermediate trend after the long term trend on the EMAs).
b. When both ergodics are above the zero line, trade only long; trade only short when the ergodics are below the zero line.
c. Enter after the ST ergodic crosses its signal line and goes in the same direction as the LT ergodic.
d. Hold the position as long as the slope of the ST ergodic SIGNAL line is in the same direction as the LT ergodic.

-A divergence of the ST ergodic signal is a strong reversal signal especially when it crosses through the LT ergodic in the opposite direction. Do not take the counter trend trade.
-The key points are a and c.

I will only trade these setups. My primary instrument is CL and the chart settings are above. I do look at 6B some, and the tick values may change for that instrument. I am looking to do 3 ergodic setups per day and 1 inside bar, for a total of 4 trades.

On a separate issue, when I put the entire list in the signature, I got an error message about going over 5 lines. This is the first signature I created, so not very experienced with it. Is there a way to put the whole list in the signature?

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following 3 users say Thank You to papa15 for this post:
 
  #345 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

I did an analysis over the week end on my two setups. I looked at the number of wins vs losses by the hour of the day. I made some very interesting observations.
-for me, the best time to trade the inside bar is between 9-10.
-the best time to trade the ergodic is between 10-12.
-I was more likely to expand my stops on ergodics before 10....guess I just did not want to start the day off on the wrong foot.



The basic analysis is attached.

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
Attached Files
Register to download File Type: xls Method Analysis.xls (15.0 KB, 17 views)

Last edited by papa15; March 28th, 2011 at 10:53 AM.
The following 4 users say Thank You to papa15 for this post:
 
  #346 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

Done for the day (finally). Details to follow

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following user says Thank You to papa15 for this post:
 
  #347 (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: 29,354 given, 83,237 received


papa15 View Post
On a separate issue, when I put the entire list in the signature, I got an error message about going over 5 lines. This is the first signature I created, so not very experienced with it. Is there a way to put the whole list in the signature?

Send me a PM with exact text, I'll stick it in there for you.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

 
  #348 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received

I used my gameplan of 1 inside bar trade and 3 ergodic setups today. Based on the analysis of past performance, I have done better using inside bar trades before 10 am and ergodic trades from 10-12. I used that as a guide today.

There was an inside bar at 9:30. I favored the downside breakout, but the market went up instead. My buy stop was hit at 9:42 at 103.94. The market did not continue surging up as it frequently does on an IB breakout. Instead it chopped around and I was taking heat. After 3 minutes in the trade without hitting the profit target, I started looking to exit around break even. Market did come up and I exited for a small profit at 9:47. The market did go on higher, but from past experience, taking this long to reach the profit objective is a warning sign to get out.

Shortly after 10 am, I saw a short setting up on the ergodic charts. At 10:08, on the 233 tick chart the short term ergodic was well below 0 and its signal line, the long term ergodic was at 0. On the 610 chart, the long term ergodic was well below 0, but the short term one was positive but had turned down and was beneath its signal line. I entered short,and within a minute was stopped out. Almost as soon as I entered, the 233T short term ergodic turned up and stayed up. I was not quick enough to cut the trade before the stop was hit.

I waited for all indicators to get lined up properly before entering the next trade at 10:35. The profit target was hit in 8 seconds. There was no time to even consider adjusting it higher.

The market then chopped around for an hour and a half or so. Nothing set up and I considered just calling it a day but at 12:48, the 233 tick chart gave a good entry and the 610 tick chart had all factors with the exception of the long term ergodic was positive. Its short term ergodic was negative and increasing its distance from its signal line. I entered well below the chop zone (and also below an inside bar that formed at 10:45 and had not been violated). The profit target was quickly hit.

I stuck to the number of trades today and took only the 2 allowed in the plan. Execution on the inside bar trade was good; the first ergodic trade was rushed a bit but the other 2 were correctly done.

Charts are turned off. Going to eat lunch and work on some other things.

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
Attached Thumbnails
Papa's Trading Journal-clib32811.png   Papa's Trading Journal-cl32811.png  
The following 4 users say Thank You to papa15 for this post:
 
  #349 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Futures: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,826 received

Papa,

On the 233 tick chart, is the loss really 20+ ticks or am I reading that wrong? I see a red line going from top to bottom and it looks to be about 20 or so ticks?

 
  #350 (permalink)
Elite Member
Wake Forest, NC
 
Futures Experience: Intermediate
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker/Data: VanKar
Favorite Futures: NQ
 
papa15's Avatar
 
Posts: 527 since Sep 2009
Thanks: 586 given, 1,244 received



bluemele View Post
Papa,

On the 233 tick chart, is the loss really 20+ ticks or am I reading that wrong? I see a red line going from top to bottom and it looks to be about 20 or so ticks?

You read right. The stop was bigger than I like but it reversed so fast, I did not have time to adjust it before the stop was hit.

My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
The following user says Thank You to papa15 for this post:

Closed Thread



futures io > > > Papa's Trading Journal

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Koonan's Trading Journal nanook77 Trading Journals 4 May 28th, 2011 03:55 PM
Alex5000 Trading Journal alex5000 Elite Trading Journals 21 July 18th, 2010 09:25 AM
J's Trading Journal jinhar Trading Journals 43 April 23rd, 2010 08:15 AM
AR01 Price Area Journal (Not a trading journal) AR01 Emini Index Futures Trading 69 April 2nd, 2010 09:01 PM
Frostbyte Trading Journal frostbyte Trading Journals 5 December 8th, 2009 03:55 AM


All times are GMT -4. The time now is 08:18 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.17 seconds with 20 queries on phoenix via your IP 54.145.16.43