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

  #601 (permalink)
Membership Temporarily Revoked
Boston, MA
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: CL, RB, LE
 
Posts: 264 since Apr 2014
Thanks: 102 given, 174 received


bmtrading9 View Post
...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.

I am so happy for you bmtrading. That bit I bolded in your quote, that is the most important bit to focus on. You are profitable!


Last edited by HoopyTrading; June 30th, 2016 at 08:27 PM. Reason: wrong word.
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  #602 (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
 
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bmtrading9 View Post
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.

Sent from my SAMSUNG-SM-G900A using Tapatalk

It is not for big trade I use that for "normal trades". My stop is at 12 so I put first target at 12 and keep runners after if I find it appropriate and sometime I cut all at 12 or even before but at least after 12 I am conformable. That solve (partially) my biggest problem. Because I start to see big $ on the screen but not realized (just virtual) this is where I take stupid decisions that I regret after and when you play with several contract the numbers grow rapidly and instead of thinking in ticks you start to think in $ which is not very good. The other little tricks is to setup your DOM to show P&L in Ticks instead $. It is just a trick but it could works.

R.I.P. Olivier Terrier (aka "Okina"), 1969-2016.
Please visit this thread for more information.
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  #603 (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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bmtrading9 View Post
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.

Sent from my SAMSUNG-SM-G900A using Tapatalk

Got out of this short at 48.10 from 48.70.

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  #604 (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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Finally was able to scalp on sim...was very late to the party even-though I know price is going to going up after failing to break 48 I didn't take any real orders.

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  #605 (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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June

I know for someone outside (or maybe for someone inside too) of the trading community the effort is not at all worth but what to do I can't give it up. One freaking misread was the difference maker. Anyway, I am not taking this serious enough (I missed lot of trading days) that's the KEY here...good luck everyone. I am done for the week.

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  #606 (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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I missed this move in both oil and YM/ES. I am frustrated for not able to take signals due to all sorts of factors (personal/work/fear) only solution is to partially automate this i.e automate entries but exit manually. Only software I like for automation is Multicharts (Easy Language). Any suggestions out there for automation for Interactive Brokers?

Edit: This is exactly my problem, once I miss the opportunity I ALWAYS look for the other side because my brain thinks that's the right trade (sometimes it works exactly but on a trend day it won't).


Last edited by bmtrading9; July 5th, 2016 at 11:03 AM.
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  #607 (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

Yup I am convinced that you don't need big account or multiple trades of flipping etc etc...YOU just freaking need a plan with stop/scale in's and lots of patience....I had everything lined up properly but couldn't execute the plan...my bad. Was in this oil trade from 46 with one point stop just freaking didn't hold on to it, instead made a nice hole to start the month....

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Edit: Tomorrow it seems oil report so I shouldn't be looking at oil instead will try to trade OR breakout system on SIM.

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  #608 (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
 
Blash's Avatar
 
Posts: 1,519 since Nov 2011
Thanks: 4,400 given, 2,224 received

A Cowboy's Trading Journal


bmtrading9 View Post
I missed this move in both oil and YM/ES. I am frustrated for not able to take signals due to all sorts of factors (personal/work/fear) only solution is to partially automate this i.e automate entries but exit manually. Only software I like for automation is Multicharts (Easy Language). Any suggestions out there for automation for Interactive Brokers?

Edit: This is exactly my problem, once I miss the opportunity I ALWAYS look for the other side because my brain thinks that's the right trade (sometimes it works exactly but on a trend day it won't).



Maybe download a copy of NT8 beta and try out their new Strategy Builder...???.... You can do a lot with it (compare data series i.e. ES & YM etc for confluences) and there's no C# coding but there still is a learning curve. Works with IB.

Ron


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Edit: grammar

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; July 7th, 2016 at 09:37 AM.
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  #609 (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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This is freaking hilarious how difficult it is to just follow this chart and make decisions?

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  #610 (permalink)
Market Wizard
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
Broker/Data: AMP
Favorite Futures: ES
 
rocksolid68's Avatar
 
Posts: 1,019 since Jan 2015
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bmtrading9 View Post
This is freaking hilarious how difficult it is to just follow this chart and make decisions?

Apparently, extremely hard.

Jokes aside, explain what you did. Why didn't you trade what you see there? Give us something so we can help

I was trading the ES today. I was bullish going into the open and was able to ride the first up-leg for 5 points and then changed bias after market failed to push the day high (also internals and other markets were proving the bull-side to be weak). Once I changed my bias to the downside, I was able to capture a good chunk of the move again.

I guess what I am trying to say is in this game you have to be willing to admit defeat and to change bias when needed. I hope this helps!

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