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" DeSimulated " - Ceerock81's Awakening
Started:October 22nd, 2016 (04:06 PM) by Ceerock81 Views / Replies:1,676 / 65
Last Reply:5 Hours Ago (12:44 PM) Attachments:55

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" DeSimulated " - Ceerock81's Awakening

Old October 22nd, 2016, 04:06 PM   #1 (permalink)
Hungry for knowledge
Rutherford,NJ
 
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Platform: Sierra Chart
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" DeSimulated " - Ceerock81's Awakening

Earlier this year I had no idea what a "future" was. My only knowledge of investing in the markets was from some Warren Buffet and Jim Cramer books that i read over the years. I have no friends or family that know anything about the markets or trading. I ended up at one of those OTA seminars (sales pitches) and heard about futures, which piqued my interest. After walking out of there angry, because i hate thieves and their ridiculous prices, i thought "I can spend much less and learn this myself". I could be wrong but I just dove in head first and started reading and learning everything I could about futures, markets, trading and everything in between. I opened a sim account and began to practice.

Soon enough I discovered Futures.io (formerly BMT) and started reading through journals and picking up on lots of useful tips. After practicing on Sim accounts for a while i noticed i was developing a sort of strategy. Not a very good one but my sim account was growing almost daily.

DeSimulated - The chord has been cut

I decided that the only way to truly learn is to risk a small capital in a live account and practice. I rather lose some money learning to trade with a possibility of growing it into larger capital, than give $20k to a school or guru that is going to take my money and i'll probably never even use their strategies anyway.

I don't want to call this a journal because I don't think I'll be posting all of my entries and exits, analysis of markets and all that. I'm not at that level..YET! I'll call this a....Progress Report. A place where I can place info on how my trades are improving and how my strategy is developing and a place where the pros, market wizards or whom ever can give me their opinion and try to help me become a better trader.

The Awakening

Once I went live I noticed how difficult it is to stay in a winning trade. On sim i was taking trades off of support and resistance zones that i drew myself, and would take anywhere from 4-12 ticks at a time depending on the days volatility. then a few minutes later do the same and so on... Now if i take a little heat i get out of the trade and i get nervous getting back in. on losing days i keep "Revenge Trading" trying to make up my losses. I never did that on sim.

Day 1- made 100% of daily goal
Day 2-lost 500% of daily loss limit (revenge trading)
__________________________________________________________________________________
week 2

Day 1- made 150% of daily goal
Day 2 -lost 250% of daily loss limit (revenge trading)
Day 3 -made 75% of daily goal
Day 4-made 200% of daily goal
Day 5-made 90% of daily goal

5 out of 7 winning days, so why is my account slightly in the red?? REVENGE TRADING....

I've been spending time in rocksolid68's trading room and have really been learning a lot about discipline. Plus it helps me get a feel of how experienced traders really trade, by taking some heat and staying confident.
What helps me build confidence the most is that I make my own analysis of the market at about 8:30 est then I hear his, and it solidifies my belief of how the market might react.

Any advice/criticism would be greatly appreciated.

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Old October 22nd, 2016, 04:06 PM   #2 (permalink)
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Old October 22nd, 2016, 05:39 PM   #3 (permalink)
Membership Revoked
Duluth MN
 
Futures Experience: Intermediate
Platform: NinjaTrader/Sierra Chart
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Ceerock81 View Post
Earlier this year I had no idea what a "future" was. My only knowledge of investing in the markets was from some Warren Buffet and Jim Cramer books that i read over the years. I have no friends or family that know anything about the markets or trading. I ended up at one of those OTA seminars (sales pitches) and heard about futures, which piqued my interest. After walking out of there angry, because i hate thieves and their ridiculous prices, i thought "I can spend much less and learn this myself". I could be wrong but I just dove in head first and started reading and learning everything I could about futures, markets, trading and everything in between. I opened a sim account and began to practice.

Soon enough I discovered Futures.io (formerly BMT) and started reading through journals and picking up on lots of useful tips. After practicing on Sim accounts for a while i noticed i was developing a sort of strategy. Not a very good one but my sim account was growing almost daily.

DeSimulated - The chord has been cut

I decided that the only way to truly learn is to risk a small capital in a live account and practice. I rather lose some money learning to trade with a possibility of growing it into larger capital, than give $20k to a school or guru that is going to take my money and i'll probably never even use their strategies anyway.

I don't want to call this a journal because I don't think I'll be posting all of my entries and exits, analysis of markets and all that. I'm not at that level..YET! I'll call this a....Progress Report. A place where I can place info on how my trades are improving and how my strategy is developing and a place where the pros, market wizards or whom ever can give me their opinion and try to help me become a better trader.

The Awakening

Once I went live I noticed how difficult it is to stay in a winning trade. On sim i was taking trades off of support and resistance zones that i drew myself, and would take anywhere from 4-12 ticks at a time depending on the days volatility. then a few minutes later do the same and so on... Now if i take a little heat i get out of the trade and i get nervous getting back in. on losing days i keep "Revenge Trading" trying to make up my losses. I never did that on sim.

Day 1- made 100% of daily goal
Day 2-lost 500% of daily loss limit (revenge trading)
__________________________________________________________________________________
week 2

Day 1- made 150% of daily goal
Day 2 -lost 250% of daily loss limit (revenge trading)
Day 3 -made 75% of daily goal
Day 4-made 200% of daily goal
Day 5-made 90% of daily goal

5 out of 7 winning days, so why is my account slightly in the red?? REVENGE TRADING....

I've been spending time in rocksolid68's trading room and have really been learning a lot about discipline. Plus it helps me get a feel of how experienced traders really trade, by taking some heat and staying confident.
What helps me build confidence the most is that I make my own analysis of the market at about 8:30 est then I hear his, and it solidifies my belief of how the market might react.

Any advice/criticism would be greatly appreciated.

You know I will be following your journey here

Confidence in your trades is key my friend.

See you Monday!

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Old October 22nd, 2016, 09:41 PM   #4 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
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Favorite Futures: ES, CL
 
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Ceerock81 View Post
Once I went live I noticed how difficult it is to stay in a winning trade. On sim i was taking trades off of support and resistance zones that i drew myself, and would take anywhere from 4-12 ticks at a time depending on the days volatility. then a few minutes later do the same and so on... Now if i take a little heat i get out of the trade and i get nervous getting back in. on losing days i keep "Revenge Trading" trying to make up my losses. I never did that on sim.

I really like the title of your thread: "DeSimulated." Once you get out of sim, you find that things can be very different.

What's different is that it's real . That's why almost no one trades the same way live as they did in sim.

It's good that you are moving out like this. I agree with Alex, and I'll be following along also. Best of luck to you.

Bob.

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Old October 22nd, 2016, 09:44 PM   #5 (permalink)
Elite Member
Canada
 
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Broker/Data: InteractiveBrokers
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Ceerock81 View Post
Earlier this year I had no idea what a "future" was. My only knowledge of investing in the markets was from some Warren Buffet and Jim Cramer books that i read over the years. I have no friends or family that know anything about the markets or trading. I ended up at one of those OTA seminars (sales pitches) and heard about futures, which piqued my interest. After walking out of there angry, because i hate thieves and their ridiculous prices, i thought "I can spend much less and learn this myself". I could be wrong but I just dove in head first and started reading and learning everything I could about futures, markets, trading and everything in between. I opened a sim account and began to practice.

Soon enough I discovered Futures.io (formerly BMT) and started reading through journals and picking up on lots of useful tips. After practicing on Sim accounts for a while i noticed i was developing a sort of strategy. Not a very good one but my sim account was growing almost daily.

DeSimulated - The chord has been cut

I decided that the only way to truly learn is to risk a small capital in a live account and practice. I rather lose some money learning to trade with a possibility of growing it into larger capital, than give $20k to a school or guru that is going to take my money and i'll probably never even use their strategies anyway.

I don't want to call this a journal because I don't think I'll be posting all of my entries and exits, analysis of markets and all that. I'm not at that level..YET! I'll call this a....Progress Report. A place where I can place info on how my trades are improving and how my strategy is developing and a place where the pros, market wizards or whom ever can give me their opinion and try to help me become a better trader.

The Awakening

Once I went live I noticed how difficult it is to stay in a winning trade. On sim i was taking trades off of support and resistance zones that i drew myself, and would take anywhere from 4-12 ticks at a time depending on the days volatility. then a few minutes later do the same and so on... Now if i take a little heat i get out of the trade and i get nervous getting back in. on losing days i keep "Revenge Trading" trying to make up my losses. I never did that on sim.

Day 1- made 100% of daily goal
Day 2-lost 500% of daily loss limit (revenge trading)
__________________________________________________________________________________
week 2

Day 1- made 150% of daily goal
Day 2 -lost 250% of daily loss limit (revenge trading)
Day 3 -made 75% of daily goal
Day 4-made 200% of daily goal
Day 5-made 90% of daily goal

5 out of 7 winning days, so why is my account slightly in the red?? REVENGE TRADING....

I've been spending time in rocksolid68's trading room and have really been learning a lot about discipline. Plus it helps me get a feel of how experienced traders really trade, by taking some heat and staying confident.
What helps me build confidence the most is that I make my own analysis of the market at about 8:30 est then I hear his, and it solidifies my belief of how the market might react.

Any advice/criticism would be greatly appreciated.

Great decision to start a progress report, you won't regret it!

Cheers

Yesterday's excellence is today's standard and tomorrow's mediocrity
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Old October 22nd, 2016, 10:52 PM   #6 (permalink)
Hungry for knowledge
Rutherford,NJ
 
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Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, CL
 
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bobwest View Post
I really like the title of your thread: "DeSimulated." Once you get out of sim, you find that things can be very different.

What's different is that it's real . That's why almost no one trades the same way live as they did in sim.

It's good that you are moving out like this. I agree with Alex, and I'll be following along also. Best of luck to you.

Bob.

Thanks Bob!

I need traders like you to keep me on my toes. I do find it difficult to trade the same as in sim, even the fills are different. On Friday I had an experience where if i would have gotten filled at my price , I would have been in a real nice trade. instead i got in at a higher price and only made a few ticks. same as my limits. i've seen my limits get hit 3 and 4 times then the price comes down and i never get filled, costing me a couple of ticks.

I won't beat myself up though. I know where i'll be in a year or so.

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Old October 22nd, 2016, 11:01 PM   #7 (permalink)
Hungry for knowledge
Rutherford,NJ
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, CL
 
Posts: 69 since Sep 2016
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rocksolid68 View Post
You know I will be following your journey here

Confidence in your trades is key my friend.

See you Monday!

Thanks Alex. Slowly i'm building confidence. On Thursday i stayed in a trade a bit longer than i usually would have and took home a decent chunk, but the only reason i stayed in is because I was listening to your analysis and it kept me in.

That day I also realized that I don't need to make that many trades to make decent $$$. So now I question my own strategy....

Now that I'm Elite I've had access to other journals and I see how a lot of successful traders take bigger profits and on only a couple of contracts a day. Why in the world do I want to keep scalping for 4 or 8 ticks at a time ???? i mean, it does work though. I do it 2 or 3 times a day and I made my goals. But I am left with something to think about.

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Old October 23rd, 2016, 06:22 AM   #8 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,475 since Jan 2013
Thanks: 24,939 given, 10,569 received
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Ceerock81 View Post
Thanks Alex. Slowly i'm building confidence. On Thursday i stayed in a trade a bit longer than i usually would have and took home a decent chunk, but the only reason i stayed in is because I was listening to your analysis and it kept me in.

That day I also realized that I don't need to make that many trades to make decent $$$. So now I question my own strategy....

Now that I'm Elite I've had access to other journals and I see how a lot of successful traders take bigger profits and on only a couple of contracts a day. Why in the world do I want to keep scalping for 4 or 8 ticks at a time ???? i mean, it does work though. I do it 2 or 3 times a day and I made my goals. But I am left with something to think about.

Profitable scalping can be done as a trading approach, but most people find it's hard.

The thing is, you make several small scalps and then hit one moderate loss, which can wipe out the relatively small cushion you have built up from your profitable trades.

Nothing wrong with it if you can do it, but most very short-term scalpers struggle. Whatever works for you is good, and you have to find your own way, but there is more than one way....

Bob.

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Old October 23rd, 2016, 07:55 PM   #9 (permalink)
Trading for Fun
Tampa, FL/USA
 
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Platform: TT Trader
Favorite Futures: ES, NQ
 
Posts: 85 since Aug 2016
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Nice decision to start a journal, I can tell you that it's helped me tremendously. I still am struggling but my progress has been rapid compared to my pre-journal progress.

My only advice to you would be to find 1 product to trade initially and stick to that. Learn it inside and out, back test and notice how it behaves and build your plan. Yes, there are markets and products that are correlated but they also move and behave differently, if even slightly. I don't think I've ever heard any successful trader give the advice of trade as many things as possible; they all say that you should specialize in 1 thing or 1 type of trade until you are an expert at it, then you can look to branch out.

Anyway, good luck.

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Old October 25th, 2016, 10:59 AM   #10 (permalink)
Hungry for knowledge
Rutherford,NJ
 
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Favorite Futures: ES, NQ, CL
 
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The Chop !!!!


Let me get to yesterday ...

Yesterday I had a busy morning pre-market, and didn't get my usual 30 min for analysis. That being said I got chopped up. I took 4 trades and all 4 went against me immediately after my entries. The last one i can call it a "revenge trade" because by the 3rd I was already at my loss limit...

Days lesson:

Don't trade if I did not get a chance to do a pre-market analysis
Avoid that final revenge trade.It takes a toll on that PnL
Avoid trading on days where I'm really busy at my regular job (performance can be affected at both job and trades)


overall loss of 200% of daily limit

Let's see how today goes........

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