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A Cowboy's Trading Journal
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A Cowboy's Trading Journal

  #591 (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: 1,744 since Mar 2013
Thanks: 2,826 given, 1,960 received
Forum Reputation: Legendary

I hate it but can't help myself...took counter-trend trades in both YM and QM.

Edit: Damn, YM I should have noted this earlier before taking the trade, it is now very close to adding level...OK here is I am looking shorting ES at 2063


Last edited by bmtrading9; June 29th, 2016 at 12:30 PM.
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  #592 (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: 1,744 since Mar 2013
Thanks: 2,826 given, 1,960 received
Forum Reputation: Legendary


bmtrading9 View Post
I hate it but can't help myself...took counter-trend trades in both YM and QM.

Edit: Damn, YM I should have noted this earlier before taking the trade, it is now very close to adding level...OK here is I am looking shorting ES at 2063

Wow! that costed me good fortune (whatever small months profits and more...), today I didn't do good at all of course, this is what expected when you fight a trend on a trend day.

This kind of trading/loss happening to me after a very long time. It's my fault because I thought market will get some sense and don't do Vcovery again because we have a fundamental factor driving this and ignored the charts. Hence price paid not a biggy but damn took some 20 handles of ES loss. I know how to get it back and will get it back :-)

After boasting about it this month is going to be RED RED.


Last edited by bmtrading9; June 29th, 2016 at 05:27 PM.
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  #593 (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: 1,744 since Mar 2013
Thanks: 2,826 given, 1,960 received
Forum Reputation: Legendary


After big trend on oil (46 to 50) and YM (17000 to 17700) I am expecting a range day (or slightly up day).

I was in both trades with 100 tick stop but couldn't take the volatility and got out (First mistake), Of course, I was biased by change in fundamentals due to BREXIT (I know exactly how volatile markets where when GREXIT was looming and with BREXIT we are talking about 10 times bigger impact than GREXIT). Second mistake was not entering with the momentum (happened over night). Third mistake was trying to find reversal on a slow grind up day even-though I knew internally that I am wrong wrong.

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  #594 (permalink)
Elite Member
san fransisco, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ
 
jackbravo's Avatar
 
Posts: 956 since Jun 2014
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It's so funny, we know we're wrong deep down, and yet still can't take off the wrong trade, and can't put on the right trade.

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  #595 (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: 1,744 since Mar 2013
Thanks: 2,826 given, 1,960 received
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jackbravo View Post
It's so funny, we know we're wrong deep down, and yet still can't take off the wrong trade, and can't put on the right trade.

Exactly, for me it's the fear of what if I am right with my initial analysis and missing that move...I noticed that when I am short I suffer this (Thank god recent times I am doing better) alot, when long market always helps counter trend trades.

Sent from my SAMSUNG-SM-G900A using Tapatalk

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  #596 (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: 1,744 since Mar 2013
Thanks: 2,826 given, 1,960 received
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Got back some 25 ticks on oil as it is reaching support. Short from 48.90 and covered at 48.63, it can go much lower but let me wait for some re-trace (I know previously this proved to be expensive in terms of opportunity but hey I am human).

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  #597 (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: 1,744 since Mar 2013
Thanks: 2,826 given, 1,960 received
Forum Reputation: Legendary

After yesterday's debacle I tried soul searching and to my astonishment I was right in every damn level and trade, it's just that I didn't allow my trades fully materialize and jumped up and down due to fear of loosing or loosing profits. Anyway I am no where near my target after six months but good thing is I am still in profit, but I know very much it doesn't take much time to loose it all and even more when trading futures so being very cautious.

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  #598 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
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A Cowboy's Trading Journal


bmtrading9 View Post
After yesterday's debacle I tried soul searching and to my astonishment I was right in every damn level and trade, it's just that I didn't allow my trades fully materialize and jumped up and down due to fear of loosing or loosing profits. Anyway I am no where near my target after six months but good thing is I am still in profit, but I know very much it doesn't take much time to loose it all and even more when trading futures so being very cautious.



You are a fine human my brother. Honest, and it's a beautiful thing....as all your posts prove.



Ron

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)

Last edited by Blash; June 30th, 2016 at 06:05 PM.
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  #599 (permalink)
 R.I.P. 1969-2016 
montreal quebec/canada
 
Futures Experience: Beginner
Platform: CQG/NT7
Broker/Data: IB/AMP/CQG
Favorite Futures: CL
 
Okina's Avatar
 
Posts: 2,149 since Sep 2015
Thanks: 758 given, 5,394 received


bmtrading9 View Post
After yesterday's debacle I tried soul searching and to my astonishment I was right in every damn level and trade, it's just that I didn't allow my trades fully materialize and jumped up and down due to fear of loosing or loosing profits. Anyway I am no where near my target after six months but good thing is I am still in profit, but I know very much it doesn't take much time to loose it all and even more when trading futures so being very cautious.

there is something I have done that helps really for the fear of losing is that now when I am not so sure I play an even number of contracts and I close the trade for half of them at the level of my stop. So the other half is "free" and I am much less stressed to keep them until we reach (or not...) my level.

On paper you make less with that strategy but in real live you often make more because you stay longer.

R.I.P. Olivier Terrier (aka "Okina"), 1969-2016.
Please visit this thread for more information.
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  #600 (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: 1,744 since Mar 2013
Thanks: 2,826 given, 1,960 received
Forum Reputation: Legendary



Okina View Post
there is something I have done that helps really for the fear of losing is that now when I am not so sure I play an even number of contracts and I close the trade for half of them at the level of my stop. So the other half is "free" and I am much less stressed to keep them until we reach (or not...) my level.

On paper you make less with that strategy but in real live you often make more because you stay longer.

This is kind of different strategy with bigger target like 200 ticks but I am not able to trust myself is the main issue...currently I am in a trade with 30 ticks profits but I am nervous like hell but I decided I am not going to move my stop, let's see how long I am going to hold.

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