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A Cowboy's Trading Journal
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Created: by bmtrading9 Attachments:227

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A Cowboy's Trading Journal

  #391 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
Thanks: 2,908 given, 2,010 received
Forum Reputation: Legendary


bmtrading9 View Post
As mentioned in ES thread I am short Russell using TZA and short YM from 16572 with a trailing stop of 100 points and initial plan was to add at ADR_H (16630) but as I always do I missed that add....

Covered YM short at 16506 and trying to re-short at VWAP

Edit: Damn, should have waited for Asia open...


Last edited by bmtrading9; February 22nd, 2016 at 08:20 PM.
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  #392 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
Thanks: 2,908 given, 2,010 received
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Inletcap View Post
Just curious- whats your short thesis?

Combination of weakness in oil, 2 hr chart over bought, daily chart resistance and UP volume is not that great to sustain a rally but that can change very quickly. $VOLSPD was holding up but underneath TICK was weak combined with less fresh new highs and lows on weekly and monthly basis so was expecting a reversal.

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  #393 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
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Wow! I should have looked at ZN and USDJPY tonight.

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  #394 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
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Since OIL is in-charge here and my expectation for today is it's going to be volatile because of CERAWeek energy conference. Still have TZA.

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  #395 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
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bmtrading9 View Post
Since OIL is in-charge here and my expectation for today is it's going to be volatile because of CERAWeek energy conference. Still have TZA.

I expected a range day but oil thought otherwise, still have time left to be a range day...My main idea is how many day's we immediately reversed from a trend up day to trend down day without range days in between? I agree more number of such days this year but still not many...

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  #396 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
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Thanks to @GruttePier I will go thru this discussion

https://futures.io/psychology-money-management/19185-ft71-s-price-risk-vs-information-risk-argument.html

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  #397 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
Thanks: 2,908 given, 2,010 received
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I am flipping back and forth today because of uncertainty in oil for a min it looked like it's going to rip and then immediately down, I am leaning towards end of day sell...I am always wrong or early so it might eod rip...

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  #398 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
Thanks: 2,908 given, 2,010 received
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Whenever I go for holding longer term mentality it's going to blow on my face and when I close my position for small profits it's going to go a lot more...for example yesterday's short from 16570 not it's at 16428 I closed my short thinking adding back again but never did added back because thought about parameters/context changed.

Now I am short again at 16400 with 100 point stop, want to hold it but with every rip/dip I start questioning my thesis... but if somehow I take my whatever loss or profit it goes in my direction making me wonder why didn't I stick to my plan....

I used to be a very good swing trader holding for bigger profits (and much bigger losses ) like 50 handles on ES but now it seems I lost that mojo...

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  #399 (permalink)
Elite Member
Vancouver Canada
 
Futures Experience: Beginner
Platform: Investor RT & Ninja
Broker/Data: IB & IQ DTN
Favorite Futures: ES
 
Posts: 1,102 since Nov 2014
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bmtrading9 View Post
Whenever I go for holding longer term mentality it's going to blow on my face and when I close my position for small profits it's going to go a lot more.

I suffer from that too.

I call this 'Rattled retail syndrome'

The classical symptom is 'acting like day-trader in taking profits and swing trader in taking losses'

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The following 4 users say Thank You to Narcissus for this post:
 
  #400 (permalink)
Market Wizard
Dallas, TX, USA
 
Futures Experience: Advanced
Platform: TOS
Broker/Data: IB
Favorite Futures: ES, YM, TF, CL, GC and ETF's
 
Posts: 1,789 since Mar 2013
Thanks: 2,908 given, 2,010 received
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Narcissus View Post
'acting like day-trader in taking profits and swing trader in taking losses'

Well said sir...common issue with retail and mainly one contract guys

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