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Vision For Trading - Work In Progress
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Vision For Trading - Work In Progress

  #21 (permalink)
Trading Apprentice
Evans, GA
 
Futures Experience: Intermediate
Platform: ThinkOrSwim, Ninja Trader
Broker/Data: TDA, TOS, NT
Favorite Futures: ES, NG, CL, SI, , DX
 
Posts: 31 since Sep 2016
Thanks: 14 given, 35 received

11-4-2016 End Of Week Wrap Up

Terrible Week. Terrible Trades.

Facing the choices I made earlier last week, I closed out my loosing positions that were continuing to loose and drag down my stock and options account 1.5% or 2.5% per day. I should have closed them out much sooner when they didn't perform as I had thought. I mean, what clearly happened is I bought tops and hoped that I was right and that it would continue up...but they didn't...GPRO and UA went far far, from up. I was positioned the entire wrong direction on both trades from the beginning and somehow...didn't realize it until it was to late, expecting a pre-earnings rally as UA had done before, which didn't occur. I lacked the discipline to close the trade, and decided to ride it out, which was the worst thing I could possibly do. A week ago I had a chance to sell GPRO and get out for a $2,000 loss on position, but I didn't take it. But this week, I closed the position right before earnings at $12.20. So where I should have covered if I were short. And a near %5 loss overall. Same for UA, held into earnings, had a chance to close it out....right at the release...pre-market for a $1500 Gain. Since initial move was up, I thought it would recover to that point...and it didn't. I was watching this from the trading app on my phone. I did not give the release the respect it deserved and paid dearly for it. That was the point to sell and get out make a profit.

I need to honestly re-evaluate my trading plan, and only enter into trades that I have honestly planned out. I bought into GPRO since I bought in before Karma announcement and made some money from the long side. Re-entered and got trapped in, and leveraged down and got back out with more money. I thought I could do it again, so when it didn't bounce with in the time frame I had planned...and it broke an important trendline and did not regain it...I should have simply closed the trade. But I didn't. I leveraged down, sure it would reverse...but it didn't. So I leveraged more by selling puts and buying calls...and it still didn't reverse. Though I did have a chance to close everything out on more than one occasion. Prob 2 or 3 times for not a terrible loss. Then it broke down entirely. So right before earnings, I started to consider the fact that hey...maybe I'm wrong. Ya Think? Nah.....I almost held this POS trade right into earnings I tell you. I mean...They halted Trading on this one right after the release...OMFG.

GPRO Earnings
This was clearly, not a beat, and not just a regular miss...it was and EPIC Miss. So it opened at $9.00 I was glad that I sold out of it at $12.20. But I didn't buy back in at $9.30 I was sick on it. But there was a good trade there. Had I been free and Clear of it days ago, I might have been able to take that opportunity, but having been so recently bound to a loser for so long, I couldn't even fathom the thought of reentering. Nor could I resale it today when it went up to $12.50 at mid day, firmly closing the gap and then diving back down a full $1.00. There were ample opportunites to make money with it but I couldn't take it, because I tried to play that move so hard that I bought into it weeks ago. So I thought it would jump on earnings, and it did...from $9.00 to $12.50....I just missed the move, because I was in it from $15.54. The trade for this was just completely backwards and I don't know why I don't see that from the beginning. I was selling my longs at $16.50 and $17.00. Had I the foresight to just sell again...and again, I would have it. But when I see a strong move up, I want to be in it. I want to get that profit...but I"m jumping in long and maybe getting a scalp, When I should be selling it, and selling it again.

I guess it's emotional or sub-conscious from here what came next, but what had been working over the past 2 weeks in my futures trading was just gone this week. I would get in trades and be up, but not close them out since I thought they would continue to move in my direction "and make back some of the losses?"...but they didn't and I sold them out for a stop above break-even, or let some of them turn into losses.

This was a huge week filled with opportunity, but I couldn't take them or just went the wrong way entirely.

Right when I thought things were getting better.

Why did this happen?

The only thing that I can think of is just 2 Big loosing trades UA and GPRO effected me and set me in motion for trying harder to make those losses back right away. I wasn't satisfied with what the market was prepared to give me at the time, usually a very short time. Like get in and in an hour or two be up $400-$850 on a 3 Contract Trade...and then let it turn entirely against me where I sold it out at $150. Then missed a re-entry at a lower level and ultimate move in my direction.

I missed a move in SI this week where I was in at the bottom and got out with 6 Ticks and as soon as I sold out it went up over 150. This really sends me into a panic....why can't I hang onto these winners, but I can hold losers below the surface of the earth till death do us part? Sub-consciously am I sabotaging myself? Because that is what it felt like this week.

Why? I believe it was the emotional stress of 2 Big Losses. How I mis-managed these trades effected the rest of my decisions I was making due to trying to make these losses back. Making it okay to keep these positions open...but it just wasn't working out. The profits I was making...weren't enough...so I wasn't taking them, I was waiting for a little more...a little more...and it wasn't there, and what profit I had, turned against me...and it's hard for me to take a lesser amount.....so if I get out I have to set a stop a few ticks above breakeven. If I don't set a stop there...it's even harder for me to get out once it turns entirely against me. Then I've been adding, and that has not been working since I've been adding to soon, to many and then I'm just screwed and screwed again, since I can't manage to let a 3-5 contract trade move against me very much I have to close it out for however far I've let it get into me.

For instance the move in CL today...down to new lows $43.20 area, I bought into 2 $46 calls by limit order and even 1 contract. Sold the contract right away for $70, and took a break to the restroom. When I returned I was up $480 on the calls, but I didn't sell them. I held them and bought more even when it started pulling back. I mean CL was down .70 cents and now it was near positive on the day. This was going through the roof right? No. It wasn't. But I bought more calls when it pulled back. Then I was down. Just in about 30 mins, I had ruined this trade. I mean really? How do you go from making money to losing just like that? I must admit, the thought entered my mind, that I should buy Puts when it was up there...but I didn't. I didn't sell anything. I just sat there...and thought about how much higher it was gonna go. So I lost about $1200 on this trade when it reversed entirely and I was long 3 contracts, and 6 calls. Then I just kept messing with it...trying to make it back...trying to jump back in....and losing there too. At this point, I honestly think I was trading out of frustration and lost control.

All of this is just embarrassing and I hate to write about it, but somehow, if I don't I'm more concerned I will repeat this behavior. It is destructive and has no place in my trading plan.

Looking to get back on track next week. I have an active plan of action that began this week with closing out the losers.

That part is behind me now, and Now I have to move forward with what is working during these market conditions.

Closed out most long equity positions. Long Equity or ETF positions are covered by short calls. Long UVXY Trade will need to be managed next week, buy buying PUTS into spikes, possibly Monday, Tuesday and Wednesday of next week.

Buying UVXY Calls on volatility weakness and selling them into volatility worked well for me today and allowed me to make it a break-even day on my Futures account even with the poor CL Trade.

SPY Puts bought at the market high and sold at the lows near close were profitable in short duration. Buy SPY puts, weekly, they are expensive, but if down they get way more expensive. Buy calls into weakness...preset limit orders to get filled...don't worry about these, set prices low.

I have written this to refer back to. During times of question or stress. I may edit or add additional posts to clarify and refine this into next week.

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  #22 (permalink)
Elite Member
Los Angeles, CA
 
Futures Experience: Intermediate
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It seems like you are very emotionally distressed.
I remember that happening to me on more than one occasion.
Consider just taking some time off. Like, take a whole week off. Recharge. Re-evaluate. And get back in with renewed strength. I know it will be tough to do that, as you want to fight your loses back. But that is why it is important to step back.
Especially that next week might be a total clusterfuck due to elections.

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  #23 (permalink)
Trading Apprentice
Evans, GA
 
Futures Experience: Intermediate
Platform: ThinkOrSwim, Ninja Trader
Broker/Data: TDA, TOS, NT
Favorite Futures: ES, NG, CL, SI, , DX
 
Posts: 31 since Sep 2016
Thanks: 14 given, 35 received

11/9/2016 Post Election Update


I feel like I should be banned from freaking trading after the past week.

After last week, 9 days down, I had exited all my long positions....so when the market did the gap up 26 points then 50 points over the weekend, I didn't have any skin in the game....and I couldn't buy at those levels...

So I went long UVXY small position and 10 UVXY calls right at close yesterday 11/8/2016. Seemed legit.

Last night as the VIX spiked to 24 when the S&P was down 107 points, and the DX was down, I just didn't focus on buying into either one. Since I was long Volatility by UVXY I thought I was good.

I made some money with short Scalps on SI overnight and thought I could do the same in the morning with GC, I made some money, and then gave it all back at open and got out with a small loss overall.

Not only was I surprised with the outcome of the US Election, I was surprised by how quickly the Futures market recovered from catastrophic losses a mere few hours ago. This makes me question the validity of the markets and our society. I mean, WTF was that last night? A tantrum? What purpose did the sell off serve if it would return to normal and push toward all time highs the following day. Where did the selling come from and why or how was it so quickly met with buyers?

Man was I surprised to see that the ES retraced the entire move pretty much by open. I sold the UVXY for a small profit and got out of the calls at a loss but what a move that I just basically missed out on. Feel like a complete idiot and should just quit altogether.

Past week, just F-me.

Mentally wasted by the markets moves and my inability to profit even in massive swings.

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  #24 (permalink)
Trading Apprentice
Evans, GA
 
Futures Experience: Intermediate
Platform: ThinkOrSwim, Ninja Trader
Broker/Data: TDA, TOS, NT
Favorite Futures: ES, NG, CL, SI, , DX
 
Posts: 31 since Sep 2016
Thanks: 14 given, 35 received

01-06-17 Jan Week 1 Update

Just thought I would start the year off right with an update to my trading journal. Will try to do weekly updates possibly more as time permits.

After a good start to 2016 I ended up overtrading and basically giving alot of profits back to the market. I would like to fix that in 2017 and had a good start in week 1 booking over $10K in profits, and promptly withdrawing that money from my futures trading account to put into savings. In the past, I have made great profits, only to over-extend myself and give them back, and after nearly doing the same thing again, last night, I might as well bank these profits and start next week with clean slate and same amount in account as I started the year with. I am working on having a more positive mental attitude, and focusing more on Futures, and not touching options at the moment. While I have had big gains on options in the past, it is very easy to loose on options as well, and unless managed properly, the chance for success is difficult unless at market extremes.

For 2017 I have adopted a long term approach to my Stock Portfolio, and my 2016 performance would have been much better had I just bought and held vs, trying to time the market. My Feb -June timing was spot on and had I just left everything alone, I would have came out much better, but It seems I was anticipating a sell off that never came and as a result gave back much of what I earned in the first 2 quarters.

This past week, returning to the market from basically 2 weeks off, just glancing at the markets to see what price action was doing, and updating a few levels on my charts, it seemed I could re-act better when returning to trading on Tuesday of this week. The time off really helped and learning Fib levels and Binary Event strategy has helped me book profits as well. I will post a few of my best day trades to illustrate.

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By not chasing price in CL while it was up so high overnight on Monday open into Tuesday, I was free to catch the recovery, and noticed this downward sloping channel forming on the chart. I positioned to catch the breakout and caught it. Little did I know it would continue much further in my direction, but I booked profits, and that is the main thing here. With time I will get better at holding for maximized returns, for now, I'm learning to book profits, and have no regrets.

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This was a tough trade for me as NG fooled me last night into thinking it was going to break out at around 11:30 PM, so I positioned long and it promptly sold off the rest of the night and into the morning. I placed a stop on my drive to work, and removed it as soon as I got to work as it had yet to make a new low, I believed that it would return to the closing price of the previous day at a minimum on open. With that being my main premise for sticking with the trade, coupled with the thought, that price returning to that level would trigger a squeeze and shorts would scramble to cover. Well, Price did return to the previous close, and shorts did scramble to cover and I sold into the Fib levels I have mapped out over the past 2 swing high low moves and made out like a bandit. It has taken me quite some time to get used to NG and CL since both are so volatile, however, if you can keep your -emotions out- and focus on the technical, and anticipate how others will re-act I think that's the ticket.

So now, I look forward to next week, with a clean slate and seeing if I can build more profits. I'm not swinging for the fences and trying to match what I did in week 1. More concerned about technical levels, learning Tick Charts and running some new indicators next week.

I took Zero ES trades during Week 1.

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  #25 (permalink)
Trading Apprentice
Evans, GA
 
Futures Experience: Intermediate
Platform: ThinkOrSwim, Ninja Trader
Broker/Data: TDA, TOS, NT
Favorite Futures: ES, NG, CL, SI, , DX
 
Posts: 31 since Sep 2016
Thanks: 14 given, 35 received

1-13-17 January Week 2 Update

Futures Edge on FIO
My initial Idea on how to protect profits:

After such a successful week last week, I withdrew the proceeds $10K from my Futures account, thinking that would help me protect my profits., to trade with less $$$ maybe then I would not be so tempted to take un-necessary risk.

How that played out:

On Monday, rather than be patient and wait for a bottom in CL to start building a position, I started shortly after the US open, with 2 contracts when it was about $1.00 down...then it continued to go down, and I added a few more contracts, and a few more, and it went down even more. I said, well maybe at pit close it will spike up and get me back to B/E, but it did not spike up, it actually went down more, and then continued to go down into actual contract close. How quickly I set out to screw myself I thought.

Well, it traded back up in fits and jerks to where I wasn't down the $5K that I was at close, and I had averaged down as much as I could since I had withdrew a large chunk of $$$ I was limited in avg down-ability, I had a level recommended by a trading site that I subscribe to, that would likely be overnight upside resistance to sell against and possibly reverse, and I had an order to sell 2 contracts at that level in place. Those were the 2 highest avg price contracts that I held, that I was the most underwater on.

I slept with my laptop right beside the bed and had an alarm set for 4AM so that I could catch the European open and try to get out.

At 4 AM as I awoke, to my position being in much better shape, CL had traded up to the area specified by my friend, retreated and was now pressing toward that area again. I was sure it would break on this second attempt so I cancelled my sell 2 contract order and went back to sleep, sure that I would wake up in profits or B/E at worse.

When I got up to go to work, CL had pulled back I was down significantly again, but not as bad as close the night before, so I thought at US open I would have my chance to get out, and I did, but I didn't. Again, I thought it would go higher, as I always seem to do when I'm down, and then it reversed hard, taking out the overnight lows, and then some, and then some more, so I had to place a stop and get out or risk being liquidated at the lows, since I had withdrawn that money, I didn't have enough of a buffer in my account to withstand the draw-down that was in store.

So I stopped out and gave back near 85% of my winnings from last week in 1 trade, that I had 2 chances to get out of for a much, much smaller loss. and CL continued lower, and lower still where it double bottomed on Wed during the Draw report. I was so mentally devastated from the previous days loss, I couldn't trade it. I couldn't buy 1 contract.

This images is where I should have got out of my CL long position indicated by the arrow in the upper left. Where RSI spiked, and then sold off, it broke the RSI uptrend to downside. The next high, retested that uptrend from below, and failed. That was it, failing to see that cost me a week of trading to make it up. Had I listened to the recommendation of experienced CL traders, I would have sold out of my longs here and reversed, and just raked in cash all day long, but I couldn't do it, I was more concerned with hitting my B/E on the trade, which was just ridiculous. I should have taken the profit that was there.

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So what did I learn from this?

1. Don't get overconfident, after a string of big wins, don't trade immediately the following week. Yeah, you were hot, but the Market will show you you're not.

2. Build the account up more, but don't trade with the whole account. Seek to double the account, but only trade with half of it. Keep the other half for emergency reserve.

3. Don't buy in on dive. Wait for a reversal signal.

4. When in a loosing trade overnight, start with a clean slate the next day. Profit is profit. If you were down $5000 the night before, and now you are up $2,500 take the $2,500 and get out, and re-evaluate the trade.

5. It's hard for me to get out of a loosing trade, but difficult for me to stick with a winner. I need to reverse this mentality, get out of loosers quickly, before I let them hurt me, and stay with winners longer, and allow my profits to run.

I am pleased to say, that after suffering a devastating loss on Monday, and Tuesday, I was able to overcome it, by not taking it personally, and recover nearly all of the profits over the following trading days.

I could have done better sticking with winners longer, but all in all, I'm learning what, when where and how to buy and sell, and what not to do.

If I can continue to trade at this level and minimize my loss I think I may have turned a corner in my trading ability. What do I attribute that to?

Multiple indicators: RSI divergence, Fibonacci levels and retracements. Market maker bases and levels. Subscription services on NG providing updated information multiple times per day on Draw forecasts and weather models. CL trading website chatroom providing multiple peoples insights and views on CL. (On my loosing CL trade I was going against their recommendations and plan). Bad mistake.

On the stock side, not much to report. I sold VRX for 1K profit on 500 shares less than 2 week hold.

Started using PnF charts for longer term view stocks to try to filter out short term volatility noise. Long mostly energy stocks. Considering selling options to protect profits.

Some of my better trades from the week that helped me recover my CL loss.

NG: I have been very successful with NG this year. Over $8,000 in profits in first 2 weeks of year. This was from Today.

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SI: I follow Oscar Carboni on youtube and subscribe to his free e-mail notifications where he will give out recommendations from time to time. I have been trading his calls for a few days on SI, where he called buy the dips about 3 days ago, and I tell you what, Oscar is a good guy. $2300 in Profits this week on SI

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ES: Now, this is something I need to work on here. I was in long at 2252 after the freaking 20 point drop in ES on Thursday morning. I played the recovery, but sold out way to soon. I left near $3,700 in profits on the table by just selling out to soon! $2767 Total in 1 Week of Trading though, I can live with that, but I'd like to capture the other $4,000 that I left behind. Maybe with time, I will get more comfortable holding onto my winners like I try to hold the ones that work against me. Working on reversing that mentality.

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So, that's about it for week 2.

1 bad trade, and then spinning my wheels all week to make it back. Lesson learned, don't over-leverage, don't hesitate to get out when profits are up on overnight hold while highly leveraged against resistance.

2 Don't get down on yourself. Positive mental attitude, don't get frustrated, move on. Take a break, trade something else.

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  #26 (permalink)
Trading Apprentice
Evans, GA
 
Futures Experience: Intermediate
Platform: ThinkOrSwim, Ninja Trader
Broker/Data: TDA, TOS, NT
Favorite Futures: ES, NG, CL, SI, , DX
 
Posts: 31 since Sep 2016
Thanks: 14 given, 35 received

1-20-17 January Week 3 Update

Another positive week with NG SI ES CL with most of my success being again with NG. I have recovered entirely from my big loosing CL trade in week 2 and have progressed to a decent level of proficiency. I was willing to get out of trades that were not moving the direction that I thought they should go, with a small profit or a relatively small loss, and just get out and stay out and watch it. I did have 1 flap on NG this week after the Draw Report came out on Thursday where I was long going into the reports with just a few contracts with sell limits set just a little above price and 1 a littler further up from price. All got hit and I made a decent profit on it, but it kept going up, and up, and up, so I started shorting it., and it kept going up, and up, and stopped me out like 2 times. Well then I guess I got emotional and decided that I should go long, and after that, NG just started going down. So being to impatient cost me my profits that day, and taught me a hard lesson, about overtrading something and trying to force a short into strength. I knew and even told others in a chat room that I would wait until noon, but I failed to do it, and just lost my head after getting stopped out of the shorts and giving back much of my profits made earlier in the morning.

What I should have done is sit and wait, and see where the price stops and then see if that strength that was present earlier is still present. Check the RSI and see if I can find a trend on it. Same thing today, (Friday 1-20-17) Made a great set of trades early in the morning on NG by watching price and how it responded to levels, double bottom buy this morning, sold into the stregth prior to lunch. Lunchtime topped out, but I was away from my desk and watching on phone at this point over lunch, I knew it was a sell though, but I didn't want to trade over phone. Needless to say, price reversed outright again and closed on the lows and went lower still aftermarket. The good thing about today, is I didn't try to jump in and buy more and if I did, I made a quick $50 and got out, because I knew it wasn't right. I knew I was wrong direction, and didn't want to risk giving profits back. At the end of the day, I started to nibble long and nearly got caught with a futher smack down low, and new low, but leveraged out at the end of the day, since weekend coming up, not all shorts will hold, and I got out based off of my 5 min and 15 min 8 PMA strategy. Price has a strong tendency to return to the 8 on the 5 and 15 min regardless of what has just happened. So if I don't go in to heavy on first set of contracts and I buy in at a decent level, I can usually leverage down a few more contracts, and then blast out of a bad trade when price returns to that 8 SMA and takes out a few tight short stops with it. Price usually goes much higher than where I have my limit orders set to get out with a profit, but the key is getting out alive in those scenarios.

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So This is the 3rd week in Jan, and so far my avgs have been improving and my trading has been improving, even my ability to take a loss has been improving, so tracking every trade helps. Cutting out the noise and focusing on only a few markets has helped. Stopped trading options on equities, has helped, saved me alot of money.

Stock portfolio didn't show any progress this week, other than REN broke out and went higher and pretty much buffered the draw downs in other positions. -$500 overall but I'm focusing more on a longer term buy and hold strategy trying to give that time to work I don't think 3 weeks counts as long term, so I'm not being to judgmental here. I think maybe a year should tell if I'm heading in the right direction or not, on this longer term approach.

With REN it's came so far so fast, I'm very tempted to sell it at the $45.50 range, and look to re-enter lower but it's been on such a tear, I'm not sure where lower will be, I've noticed it has a near $2.00 ATR at times during the day, trading up a full $1 and down a full $1.00 so I'm considering selling it at the top of that range, and then trying to get back in near the bottom, or just waiting and letting it pull back into another range.

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Well best regards, and if anyone reads this drop a comment or just say hey!

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  #27 (permalink)
Elite Member
Reading UK
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Dorman, CQG
Favorite Futures: US treasuries, Bund, Schatz
 
Posts: 95 since Oct 2016
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Hey kbal. Excellent analysis you sound like you really know what you are talking about and your self criticism is exemplary. I'm going to enjoy reading more of your posts and hopefully learning from you as well.

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  #28 (permalink)
Trading Apprentice
Evans, GA
 
Futures Experience: Intermediate
Platform: ThinkOrSwim, Ninja Trader
Broker/Data: TDA, TOS, NT
Favorite Futures: ES, NG, CL, SI, , DX
 
Posts: 31 since Sep 2016
Thanks: 14 given, 35 received

January 27 Week 4 Update:

Well, there was lots of good point this week, but I managed to destroy my NG gains by developing bad trading habits pertaining to it.

First off, my Stock account had been up and down this year and I was kicking myself for not selling some while they were very profitbale, DO Diamond Offshore in particular. I was up a great deal on 500 shares of this stock when the Election and OPEC news came out as it reached the $22 range from $15. But I didn't sell it there, I waited, and waited, thinking it would continue up along with CL. It didn't it slowly ground down to $18, where I started adding to the position, and it went up some and I still didn't sell it. Well, Since I had avg up actually my avg came out to something like $17.44 and earlier last week it went below that. So I had basically taken a winning trade and turned it into a looser, 1, by adding at a higher price. Mistake No. 1. I should have sold the first 500 at $22 and either went short, or waited for it to go lower, but I didn't. So I added at $18 thinking it would go back to $22 and it didn't. So I started to review PnF charts on it, and they have a bearish price tarted of $16. SOB that is well below my $17.44 avg, so I gave it every chance and sold it at $17.82 this week. 1400 shares of it. For like a $500 gain. Hated to do it, until today it traded down to $17.00 so I was glad I wasn't holding it. I may buy it back at $16 or so, after earnings, I doubt they will be very good, but who knows.

I made some good ES trades on Monday, but unfortunately didn't hold onto my longs, I sold intraday and didn't see the 50 point move coming.

But the rally in stocks was good for my Energy Sector holding, and Trumps first week was off to a good start, igniting my ETP position from underwater to up very strong. I will continue to hold ETP to collect the $1.05 quarterly div, and I think they will have positive earnings, and maybe the SXL deal won't be that bad.

Sold half of my REN position. In at $40 out at $46, still holding half, it went up another $1.50 after I sold, so selling was prob a mistake, before it was up $1 down $2 Up $2 down $1 now it's just up, up, up, so I swear, if I sell, it keeps going up, if I don't sell, it keeps going down, I have the worst luck I swear.

I had a great week in Stocks and started off Decent in Futures, but ended up screwing everything up when I started to change my strategy that had been working on NG. Before I would avg into a position by buying single contracts, starting out by buying 1 or 2, and then if it went against me I would avg down with 2 or even 3 more if it was really pressing against me. I could usually get out with a profit, trading it that way, sometimes a very strong profit.

This week, I started off just trading 1 contract on it, saying I was being more responsible, and all this and that, and I was nailing it, just not making much profit, so then late in the day, I would see something in it, and go in large, like a 4 contract size, and then, I would be wrong, and have to add to that, and then, this what kept getting me over and over, I put in a stop. What happens when you put in a stop? It gets hit! and you stop winning and start loosing.

AND that sums up my week. I started getting big ideas about NG and how much money I was going to make and how I was going to save my week on Futures Trading and post a profit that had been inline with my other 3 weeks last night is when I came up with this idea. I was already long NG after the selloff after the report yesterday. With it being up 4% yestereday and it gave back 2% of that prior to close, and then started giving back, more I was sure that with contract expiry it would get bought back up by shorts covering. I mean, how much would it give back after having such a strong day on Thursday even nearly touching the 3.50 area, the damn near holy grail on the path to 4.0 right? SOB was I wrong and wrong again. what the "F" did I do last night when NG was selling off like a Bitch? I put in a STOP. The absolute worst thing I could have possibly done. But that's what I did, and guess what it got hit, and guess what, now it's like I"m back to square 1 on Futures trading. I have some profits left for the year, but nothing compared to what I gave back last night. So this week was disappointing on that front, but I hope I learn my lesson and I'm able to get over this loss on NG. I had been so consistent with it, it was by best and most profitable contract, and then in 1 night, I basically just gave it all back on the massive contract rollover selloff. They claim weather models shifted overnight, but I claim bullshit. It was big money pushing the front month down on no volume so they could cover their shorts and made a fortune while not driving prices to high. I've seen it before and I'm sure I'll see it again, but next time I'll be ready. I will practice going short, and will become a master. No more will I buy the mid and hope for it to go up. I will look for places to short and short as aggressively as I was long last night. Not that I'm even that Bearish of a guy, but I'm just tired of loosing money that I've worked hard for, and it seems like the easiest and quickest path is the path down. So I will be watching the reports, and will be waiting at the tops, and I will be waiting for the contract to expire and if it's price d high, I will sell it and ride it down with the big money mangers doing the pushing, and will cover where others capitulate and I will short again, after those covering their shorts drive price back up. and then I will cover and buy in to go long after a double bottom retest, and ride it up to at least a mid point where I will sell and then, I will go buy a damn Jeep and tear the rear-end out of it on rocks and shit, because that would be more fun than getting stopped out at 3 AM only to have price return to where the F it was the day before. like nothing ever happened, because really it didn't. I was just a dumb ass who put in a stop, I would have all my money in my account had I just left everything alone and looked away or went to sleep. But I panicked, and just couldn't manage the trade at 2:30 in the morning, so I put in a stop, and it was withing 10 ticks of the bottom from there price quickly reversed as shorts started to cover and then it double bottomed about 4:00 AM where I was asleep and I was pretty much a mental wreck the rest of the day, buying tops all day, chasing price. Just terrible.

I hope I can get straightened out and get back to profits, but this was not a good week for me in NG I was just out of sync with the market. If I made profits, I gave them back, and then last night I gave them all back, just a terrible trade.

So week 4 goes to the stocks, they saved my but this week, we will see what next week "End of Jan, Beginning of Feb" brings.

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