Overnight trading journal - Trading Journals | futures io social day trading
futures io futures trading


Overnight trading journal
Updated: Views / Replies:23,211 / 66
Created: by HoopyTrading Attachments:80

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 80  
 
Thread Tools Search this Thread
 

Overnight trading journal

  #1 (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

Overnight trading journal

Hello. I have been messing with overnight positions, and I am attaching a couple of screen shots. They are the results of a month of forward testing in simulation on live data using from 1 to 10 contracts at a clip. (One of them went 20 deep on accident. Wrong button, oops). The assumption was based on $90K cash in the account at the start of the trial.

I want to know why it won't work in real life. What is wrong with this? (The first is the summary over the past 30 days, the next three are the trade logs showing, as best I can muster, the cumulative effects.

Attached Thumbnails
Overnight trading journal-whynotwork.png   Overnight trading journal-whynotwork1.png   Overnight trading journal-whynotwork2.png   Overnight trading journal-whynotwork3.png  
Reply With Quote
The following user says Thank You to HoopyTrading for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Regina
 
Futures Experience: Beginner
Platform: META TRADER
Favorite Futures: currency
 
Posts: 6 since Oct 2015
Thanks: 6 given, 1 received



HoopyTrading View Post
Hello. I have been messing with overnight positions, and I am attaching a couple of screen shots. They are the results of a month of forward testing in simulation on live data using from 1 to 10 contracts at a clip. (One of them went 20 deep on accident. Wrong button, oops). The assumption was based on $90K cash in the account at the start of the trial.

I want to know why it won't work in real life. What is wrong with this? (The first is the summary over the past 30 days, the next three are the trade logs showing, as best I can muster, the cumulative effects.


What was the logic behind these trades, would you like to explain a little ?

Reply With Quote
 
  #4 (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

The logic was based on what long-term fib retraces were doing on long-term charts (custom Renko bar-based), and staying in overnight positions. There was a bit of scaling-in involved, which you can see through those losing contract closures on the trade pics.

My query is, if one can survive this sort of shakiness over the long term in sim, will it work with real money? I took a beating one day last year in live market using the scaling method, but I had not considered staying overnight for recovery. (P.S. ash, that is what I meant about it being dangerous to do in futures, if you just want to daytrade.)

Reply With Quote
The following 2 users say Thank You to HoopyTrading for this post:
 
  #5 (permalink)
Elite Member
Regina
 
Futures Experience: Beginner
Platform: META TRADER
Favorite Futures: currency
 
Posts: 6 since Oct 2015
Thanks: 6 given, 1 received


HoopyTrading View Post
The logic was based on what long-term fib retraces were doing on long-term charts (custom Renko bar-based), and staying in overnight positions. There was a bit of scaling-in involved, which you can see through those losing contract closures on the trade pics.

My query is, if one can survive this sort of shakiness over the long term in sim, will it work with real money? I took a beating one day last year in live market using the scaling method, but I had not considered staying overnight for recovery. (P.S. ash, that is what I meant about it being dangerous to do in futures, if you just want to daytrade.)

How do you get in a trade and which Fib levels do you prefer to trade at ? You mentioned that it involves scaling in, i suppose you mean that if one Fib level is not respected and then instead of a stop out, you'd scale in at the next Fib level ? Yes that would mean that the trade positions would have to be kept live over night and maybe for more than one night.

How do you calculate the Fib levels because this is more of an art in itself. I have looked at Emini Futures, Trading Strategies, Live Emini Trading Room & Trading Videos - Emini Addict and have heard good things about it. I would love to have a look at the way you trade. The Trade Logs you've posted look good and if it does involve staying live overnight, so be it. However with account size of around 100K is a condition which may not suit everyone.

Please elaborate if you may and let us know about your methodology.

Thanks

Asher

Reply With Quote
 
  #6 (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


asherrizwan View Post
How do you get in a trade and which Fib levels do you prefer to trade at ? You mentioned that it involves scaling in, i suppose you mean that if one Fib level is not respected and then instead of a stop out, you'd scale in at the next Fib level ? Yes that would mean that the trade positions would have to be kept live over night and maybe for more than one night.

How do you calculate the Fib levels because this is more of an art in itself. I have looked at Emini Futures, Trading Strategies, Live Emini Trading Room & Trading Videos - Emini Addict and have heard good things about it. I would love to have a look at the way you trade. The Trade Logs you've posted look good and if it does involve staying live overnight, so be it. However with account size of around 100K is a condition which may not suit everyone.

Please elaborate if you may and let us know about your methodology.

Thanks

Asher

FYI, I noticed I forgot a pic in the OP which showed the real knuckle-biter portion of this monthly test. Here's the filler that goes in between Pics 3 and 4 above...

Attached Thumbnails
Overnight trading journal-whynotwork2a.png  
Reply With Quote
 
  #7 (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

Here's current performance as of today from 5/17 (Stand by ash, I will get to your latest question...)

1st pic is summary of current 4 day total after 5/16, second is the trade window for those 4 days, third is the running summary since 4/16.

Attached Thumbnails
Overnight trading journal-working1.png   Overnight trading journal-working2.png   Overnight trading journal-whyworknottotal34day.png  
Reply With Quote
 
  #8 (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


asherrizwan View Post
How do you get in a trade and which Fib levels do you prefer to trade at ? You mentioned that it involves scaling in, i suppose you mean that if one Fib level is not respected and then instead of a stop out, you'd scale in at the next Fib level ? Yes that would mean that the trade positions would have to be kept live over night and maybe for more than one night.

How do you calculate the Fib levels because this is more of an art in itself. I have looked at Emini Futures, Trading Strategies, Live Emini Trading Room & Trading Videos - Emini Addict and have heard good things about it. I would love to have a look at the way you trade. The Trade Logs you've posted look good and if it does involve staying live overnight, so be it. However with account size of around 100K is a condition which may not suit everyone.

Please elaborate if you may and let us know about your methodology.

Thanks

Asher

Ash, unfortunately, my methodology does not involve just technical analysis, but also some fundamental and "intuition" about a market, as it were. I know this whole "intuition thing" is not something that can be proven and can even be very dangerous, but I suppose it just comes from a gasping grasp of what a market can do, how much you are on the hook for if it goes against you, and the basis of supply and demand in that sector of the world market. GC is still a tough nut to crack, but over the long term it's more stable in my eyes than equities.

So here's what I look at on long-term Fibbos. Find an entry point on a cycle, and take it to 50%. It could take weeks for it to do so on a long-term chart, but who cares if your account is well-heeled and you are in it with 1 lousy contract on a contract month that doesn't close for two to three months? Notice the following is Aug GC, so FN date is end of July. Will the price never get back to that level in 7 weeks?

First pic is GC. You'll notice that I am actually in for 2ct, oops, that was a mistake, but the point is the same and a large account could handle a serious pullback before margin demons come knocking on the door. The Fib level is traced over a 5 day period. What are the chances that it will reach the 50% level? Based upon my experience, very good, based on even longer term charts. As the world markets are still shaky, GC always remains a good investment. If I had been in for 1ct my target would have been that 50% as displayed. But since I screwed up and scaled in a bit early, I dropped my target for 2ct to the 38% level, which seems to be a point of resistance anyways. If I am filled at my target, that is still +42tics*2. $840 minus $10 RT expenses? I'll take it! Next post incoming...

Attached Thumbnails
Overnight trading journal-gcclforio.png  

Last edited by HoopyTrading; May 20th, 2016 at 10:29 PM.
Reply With Quote
 
  #9 (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

Next we have CL. See attached pic #1.

Note that on this long-term chart we have two Fibbos. The small one starting at May 12th to the 18th. It pulled back to it's 50% the next day, the 19th.

The second Fib is larger, starting back on May 10th and going to same top as 18th. The small retrace made it to 50%, but the second larger retrace did not make it, and has been forming higher lows up until the smaller 50% retrace lower low. But what is August CL going to do in the time between now and the end of July, what with summer demand coming up, and WTI refineries continuing to balk at the idea of starting up production again? In that time, can the price reach to 100% retrace on the longer timeframe of about 50 bux per barrel? I sure think so. In the meanwhile, if it doesn't and sinks, who cares? I am in the thing with 1ct and a well-heeled account, and I have 2 months to recover!

So get in and stay there if that is your belief!

And when you go back to look at your shorter term charts and see what is in pic#2, don't bloody panic! Remember, you were trading the long-term charts for a long term gain! (CL and GC are the top charts). So don't flip back to small charts and see patterns that are not on long term charts! That will get you into trouble and make you want to panic close at a loss. Trust your system.

Attached Thumbnails
Overnight trading journal-clcclforio.png   Overnight trading journal-4chartforio.png  
Reply With Quote
 
  #10 (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


Been a tough two weeks, buns of steel and stuff, especially after the severe GC drop. But today's nasty USA jobs report got me some relief. Here's some pics, starting from the last shot of May 20th.

First is the current look of the large GC August chart. Yes, I'm in for 10 cts due to a bad scale-in early on in the drop, that was a bad move, and I would have had to scale out some losing positions to hold maintenance margin. But it looks like it will recover by end of July. If not, I'm in trouble. We shall see.

Second is latest Aug CL retrace chart over long-term. Seems to be consolidating a bit. Sorry it looks so messy, but I need the various Fibbos and trend-lines on there for analysis.

Third pic is summary from where we left off, 05/20, to today 06/03.

Fourth and fifth pics are the trades from that time-frame.

Sixth pic is the summary from 04/16 to today 06/03.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote

Reply



futures io > > > Overnight trading journal

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Overnight trading and Stops becoming irrelevant ? mdsvtr Traders Hideout 6 July 20th, 2017 07:27 AM
Time value lost overnight and during trading day - more in either? Brennen81 Options on Futures 2 July 12th, 2015 07:14 PM
Overnight Session ES Trading sasnak Emini Index Futures Trading 14 April 29th, 2014 12:14 AM
EC trading the overnight session dgresens Currency Futures 2 January 18th, 2011 10:42 AM
AR01 Price Area Journal (Not a trading journal) AR01 Emini Index Futures Trading 69 April 2nd, 2010 09:01 PM


All times are GMT -4. The time now is 10:05 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.25 seconds with 20 queries on phoenix via your IP 54.221.76.68