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SEA-EL Trading Journal (CL)
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Created: by wmueller Attachments:99

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SEA-EL Trading Journal (CL)

  #11 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.01.22 +1T, 1 trade

1252:56, Long 1, +1T
Chickened out again! Fear of losing. Note that, if I had left the ATM alone (20T target, 9T stop) the trade would have resulted in a 9T loss.
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Net for the week: $211

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  #12 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.01.25 +1T, 1 trade

Had difficulty focusing today. Missed opportunities.

1320.56, short 1, +1T: Chickened out again!
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Attached Thumbnails
SEA-EL Trading Journal (CL)-cl2016.01.25.failure-enter.jpg  

Last edited by wmueller; January 25th, 2016 at 03:52 PM. Reason: needed more info
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  #13 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

Fear of Entry 0741


I had been watching the building of support (see arrow in chart below) and was ready to place a sell stop 2 ticks below. But I didn't do it.

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  #14 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.01.26, 1 trade +6T

1304:41, Short 1, +6T. Tightened up the target - chicken exit. Could've had +20 if I had not tighted either tgt or s/l. But I also tightened the s/l to BE. PA retraced to BE so I would have been stopped out at 0.
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The following user says Thank You to wmueller for this post:
 
  #15 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.01.27, 5 trades, -12T - fighting the trend

1245:50 short 1, -9T
way too late for entry.
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1327:03 3 trades, short1, short 1, short1 all -9T fighting the trend - got emotional
no structure for an edge, no s/l
The pace was very fast, too fast for me to trade. So my entries were late and I should could have exited sooner if I wasn't so rushed. A learning experience.
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1329:56 short1 +26T, finally a winner. Note, after a significant pullback price did go even lower.
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  #16 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.01.28 trade error

0951:10 went Long 7 contracts. BIG ERROR. Accidentally pressed, and held, the long entry button. Luckily I was able to get out quickly at a profit, +11T. Could have been a disaster.
Then I made a normal trade
0954:20, Short 1, +5T. Got squeemish. Turned out to be a good call.
Hey, I'm a scalper.
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  #17 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.01.29, 1 trade +1T

1145:58, Short 1, +1T. Location poor. Structure good. Against the trend. Trying to pick a top.
As you can see, there were a bunch of white down arrows indicating the ASKs were preventing the market buyers from pushing PA up. Then a big down candle came along and that's when I entered. I suffered through a couple whipsaws, but when that 2nd swing low was in I figured I should get out.
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  #18 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.01 MONTH END LOG and STATS

Note: the first 2 weeks were simulation so they are not included here. Live trading started 2016.01.19.
Total trades: 20. Percent profitable: 80. Mean gain per trade 15.27 after commission (2 ticks before comm.) Profit factor only 0.45. As can be seen from the comments, I have a problem chickening out. Much work to do; but at least I am profitable.
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  #19 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.02.01 - Horrible day - 48 ticks

Terrible day. Had a moment of serious loss of discipline and I paid dearly for it. I hope I will learn from it.

0903:26 Long 1, 1tick. Chicken exit Trading from fear.
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1105:12, short 1, 1T another chicken exit.
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1317:56 , 6 trades, -58 ticks. Disaster. Used the Reverse button and chopped my way to major loss. Should have taken one or two losses and then get out. RULES! DISCIPLINE!
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1328:26, 2 trades, +10 ticks - Recovered a little bit.
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  #20 (permalink)
Trading for Fun
Milwaukee, WI
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP, CQG
Favorite Futures: CL
 
Posts: 88 since Jan 2014
Thanks: 4 given, 38 received

2016.02.02 -6Ticks, 3 trades


Not as bad as yesterday, but not good.
First trade, went to to -9, the normal s/l, almost emmediately (MFE = 1).
Second trade allowed a +7 MFE to go to 0.
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Third trade chickened out, but at least I made +4T.
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The last 2 minutes of the "Pit Session" (which doesn't really exist anymore) saw a huge, almost continuous, rise in Cumulative Delta (CD) while price barely moves. I think this is one group of big players selling with limit orders to another group buying with market orders.
Who are they and why do they do it?

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