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Sam's trading journal.
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Sam's trading journal.

  #61 (permalink)
Elite Member
Helsinki, Finland
Futures Experience: Intermediate
Platform: Sierra
Broker/Data: InfinityFutures, IB
Favorite Futures: M6E, 6E, M6B, 6B
Sam21's Avatar
Posts: 87 since Sep 2015
Thanks: 166 given, 60 received


Back to Basics

The biggest changes this past week:
  • Focused mainly on M6E
  • Jotted down thoughts and even recorded them as I trade
  • Started a VLOG on YouTube that I'll update as I take the trades
  • Had a sheet of blank paper where I've jotted down results of the last taken trade
  • Realized that lists look good in a journal

I've thought long and hard how I can keep the ego away as I trade. I believe the biggest reason I've lost on live and not on sim is that I lose myself when I see -270 or more on minus thinking there is a way to salvage what's left. Instead I get myself DEEP in the red and end up maxing out my accounts daily loss limit.

I thought that if I record video of how I take my losses where I have to post each trading day. I want to catpture my mistakes on video to learn from them. I'll post here and on youtube and one day maybe someone will chime in with tips and tricks on how to maintain calm when everything falls apart.

I'll edit sound and make it more watchable even though it'll probably only be me who watches these anyways ^^.
The important thing is learning from mistakes and that's what I hope to achieve with this whole process.

Here's a summary of my trading rules

I sit on my hands when:
  • Missing the first wave
  • Feeling greed going for more than I need on first trade of the day
  • Uncertain of taking the trade
  • Multitasking
  • Lack of confidence and trapped in thoughts instead of "in flow"

Entry rules:
  • Long when above 34EMA short below.
  • First closed bar on the other side confirms the new trend
  • 89 bounce 200 bounce 34 bounce for smaller targets*

Exit strategies:
  • First two contracts for a fixed target
  • Trailing stop for all right under the new pullback low/high
  • @ Pivot points

Time management:
  • Trading for a maximum of 90 minutes at a time with a minimum of 20 minute break each session.

Procedures for getting empowering beliefs and mental states:
  • Movement
  • Singing
  • Listen to great music and sing along. (laugh all you want this happens automatically when I feel good )
  • Have an inspirational book and a wonderful view on life because I can choose what to feel and when to feel it!

My worst-case contingency plan:
  • Two trading computers, one battery supported.
  • Two sets of internet connections, wireless + phone.
  • Stop loss at the exchange as I enter the trade.

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The following 2 users say Thank You to Sam21 for this post:
  #62 (permalink)
Elite Member
Helsinki, Finland
Futures Experience: Intermediate
Platform: Sierra
Broker/Data: InfinityFutures, IB
Favorite Futures: M6E, 6E, M6B, 6B
Sam21's Avatar
Posts: 87 since Sep 2015
Thanks: 166 given, 60 received


SIM trades.

Patience: Well done, sat on my hands and saw first wave go for almost 100T. Didn't enter before I had eaten my sandwitch (I don't trade hungry anymore..)
Psychology: Could of done better with the second trade. Felt greedy and got what was coming.
Trade Management: Well done. Trailed my stops towards the targets as the trade unfolded.
Follow rules: Yep, except for the second trade. 2 out of 3 is a good start.
Overall: 8/10

Thank you David_R for all the tips I found in your journal. If someone else is struggling with psychology go read his journal and find the golden nuggets.

Keep this going for another 10 days and get back on live with Micro contracts this time. Easier to follow rules when maximum drawdown is -$60 rather than -$250.

Attached Thumbnails
Sam's trading journal.-3-6.jpg  
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  #63 (permalink)
Elite Member
Helsinki, Finland
Futures Experience: Intermediate
Platform: Sierra
Broker/Data: InfinityFutures, IB
Favorite Futures: M6E, 6E, M6B, 6B
Sam21's Avatar
Posts: 87 since Sep 2015
Thanks: 166 given, 60 received

First week of being live again. Starting fresh with micro Euro and will start micro Pound next week too if I find opportunities in it.

What I've done differently this week compared to other live weeks:

I've recorded every trade I've taken this week with a desktop recording tool. Also made comments and speak my thoughts as I'm trading so that I know what's going on in my mind and can reflect on it at the end of the week. It's resulted in lot less impulse trades even though I still get excited at times it's definitively a step in the right direction.

Thanks Lancelottrader for the inspiring idea to record trading sessions and listen to the audio in the car.


24 Contracts traded in this past week. Resulted in -69 pips.

13 of these contracts were impulse trades that resulted in -135 Pips on M6E

97 pips is the result if only the planned trades would of been taken.

The reality is still that I'm still not in full control of my impulses as I'm trading. And to help with that I've now written down a long list of questions I have to ask before I enter a trade. The previous entry exit rules are still the ones I use except now I have to comment them loudly with additional questions to calm my nerves as to be more focused as I enter a trade. Will see the effects of this in next weeks update.

Results of this week is in this picture of my excel journal. Feel free to copy paste anything you find helpful from this journal. If you have suggestions for how to improve impulse trade control please do share as this is a challenge for me right now.

Still have a way to go until I'm a consistent profitable trader and I feel this journey has just begun. I've taken more actions to improve my success chances this week than any other since I began my trading journey last August. My goal is to have 3 consistently profitable months with Micro contracts before moving up to mini-forex / e-mini futures contracts.

I still keep practising on SIM and results there are not valid since I'm testing out the same strategy but with a much larger account. 3 contracts traded at a time on NQ/CL/6E isn't something I can do with my current account balance. Bottom line for the week was 18 contracts traded which resulted in +54T ($541.25)

Attached Thumbnails
Sam's trading journal.-week1.png  
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