Zen & the Art of The Small Account - futures io
futures io



Zen & the Art of The Small Account


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one PandaWarrior with 455 posts (1,602 thanks)
    2. looks_two tderrick with 74 posts (54 thanks)
    3. looks_3 Big Mike with 52 posts (176 thanks)
    4. looks_4 bluemele with 34 posts (37 thanks)
      Best Posters
    1. looks_one PandaWarrior with 3.5 thanks per post
    2. looks_two Big Mike with 3.4 thanks per post
    3. looks_3 bluemele with 1.1 thanks per post
    4. looks_4 tderrick with 0.7 thanks per post
    1. trending_up 182,280 views
    2. thumb_up 2,558 thanks given
    3. group 102 followers
    1. forum 994 posts
    2. attach_file 228 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

Closed Thread
 
Search this Thread
 

Zen & the Art of The Small Account

(login for full post details)
  #181 (permalink)
 timbermann74 
Bangkok
 
Experience: Intermediate
Platform: Sierra Chart ,Ubuntu
Broker: CFD,LMAX
Trading: micro futures
 
Posts: 8 since Apr 2010
Thanks: 43 given, 5 received

I believe every trading platform has it's own issue, you just need to be prepared and well aware of what might happen.

When an Expected unexpected-events happens, you know what you have to do.

I like to have a secondary front-end ready when the software bug on the primary trading front-end hits me.

So my personal preference is to use platform that allowed me to have 2 front-end on the same accounts.

The following user says Thank You to timbermann74 for this post:

Can you help answer these questions
from other members on futures io?
mahDualCandlePattern
NinjaTrader
Tips for directional bias during Asian Session?
Traders Hideout
value chart indicator by sim22
NinjaTrader
need help with easy language OR breakout code:)
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
44 thanks
How many day traders are profitable?
27 thanks
Why you should move from futures to forex
15 thanks
Attached Orders
13 thanks
fx "traders" hate real profitable traders
8 thanks
 
(login for full post details)
  #182 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


timbermann74 View Post
I believe every trading platform has it's own issue, you just need to be prepared and well aware of what might happen.

When an Expected unexpected-events happens, you know what you have to do.

I like to have a secondary front-end ready when the software bug on the primary trading front-end hits me.

So my personal preference is to use platform that allowed me to have 2 front-end on the same accounts.

This is my goal but I am underfunded at the moment, don't have the hardware to really make this work, I would like separate machines to do this on, and I have the broker on speed dial. So I have to make do with what I have.

There is a high end server sitting in my trading room with enough horse power to run the space shuttle and 12 monitors. I really want to use this thing, but one of the dual power supplies is out, its running Windows Server 2000 and has a bunch of server level programs on it that need to be cleaned off. It would cost me around a grand to repair it, clean off the OS, install Windows 7, license a trading platform on it, etc. It also has a single monitor VGA video card in it. I would need another video card to support at least two HD 24 monitors. I have a Dell 30 inch HD connected to my macbook pro that I would repurpose to that machine and move one of my smaller monitors to the mac if I could get the serve running but its beyond my abilities and I don't have the funds to pay for the work right now.

That machine cost me $7000 new plus all the software on it. Seems like a waste right now.

Guess I'll keep using my trusty little Dell laptop to trade with.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
The following user says Thank You to PandaWarrior for this post:
 
(login for full post details)
  #183 (permalink)
 gabga100 
New York
 
Experience: Advanced
Platform: NT
 
gabga100's Avatar
 
Posts: 147 since Nov 2009
Thanks: 44 given, 72 received



aztrader9 View Post
Been thinking a lot about having a daily game plan. One that is essentially the same every day but has flexibility built in. In the military, they have a saying; its called the 7P's. Prior Proper Planning Prevents Piss Poor Performance. Every battle fought was first fought on paper. This focuses the units actions toward the correct objective. Its a known fact the first live rounds fired in battle essentially negates the paper battle planning done back at HQ. But the soldiers depend on the basic framework of the plan. They use it to stay focused on the objective, regroup, co-ordinate rescue extractions, re-supply,etc. But the fine details are almost always modified on the fly in the heat of battle.

In the same way, I think a daily game plan is essential. For me, it starts with a daily chart. Where are we in the larger picture. Then look at a 30 min or 12 range chart with at least 5 days on it and see where we are in the intermediate picture and then to my trade chart, how might today play out in context of the larger time frame?

Within the trading chart, the larger picture should play out. Short continuation, long continuation, consolidation day? Breakout day. And then be prepared with a plan to execute should any one of these present itself. Be flexible with the details but execute toward the larger picture if at all possible.

In context of the daily range, is today likely to be a narrow range day, a trend day, are we going to test the recent highs or lows? If so, where are logical targets for exiting positions? My entries are defined by my trading chart but the larger time frame could lend clues to good exits.

I am working on this concept. Not at a place to formalize or execute on this type of battle plan yet but getting closer. My method works regardless of whether or not I look at my trading like this but I suspect it would get better and I could potentially capture larger trades if I did.

What are your thoughts regarding this type of thinking?

I think you should backtest your strategy since beginning of June and find out what the best entry and exit parameters are. At least you will have some certitude about your trades.This is what having a defined plan means
Make sure to re run this every times market changes ( it did on May 6th).... everything is outlined in stress free trading.....I am curious to know what you think about this book!

You know what you know but you do not know what you do not know.
You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.
The following 2 users say Thank You to gabga100 for this post:
 
(login for full post details)
  #184 (permalink)
 timbermann74 
Bangkok
 
Experience: Intermediate
Platform: Sierra Chart ,Ubuntu
Broker: CFD,LMAX
Trading: micro futures
 
Posts: 8 since Apr 2010
Thanks: 43 given, 5 received


aztrader9 View Post

There is a high end server sitting in my trading room with enough horse power to run the space shuttle and 12 monitors. I really want to use this thing, but one of the dual power supplies is out, its running Windows Server 2000 and has a bunch of server level programs on it that need to be cleaned off. It would cost me around a grand to repair it, clean off the OS, install Windows 7, license a trading platform on it, etc. It also has a single monitor VGA video card in it. I would need another video card to support at least two HD 24 monitors. I have a Dell 30 inch HD connected to my macbook pro that I would repurpose to that machine and move one of my smaller monitors to the mac if I could get the serve running but its beyond my abilities and I don't have the funds to pay for the work right now.

That machine cost me $7000 new plus all the software on it. Seems like a waste right now.

Guess I'll keep using my trusty little Dell laptop to trade with.


Multiple monitors set up is much more affordable these days, thanks to the MASS production of LCD monitor that flooded the PC market.

I used to have a set up with multiples monitors ( but not 12 ) , After using that set up for a while I realize I can't keep up with anything that keep moving in real time .

It is hard for me to keep tracking all info. flashing on all monitor in real time especially when I have Open positions.
At first I think More is better, now Less is more.

I'm trying to squeeze all necessary windows on to viewable screen of a side-by-side 17 & 19 inch LCD screens and one main 24 inch screen.

Having too many screen not only I can't focus but my eyes keep rolling like pachinko ball.

The following user says Thank You to timbermann74 for this post:
 
(login for full post details)
  #185 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received


gabga100 View Post
I think you should backtest your strategy since beginning of June and find out what the best entry and exit parameters are. At least you will have some certitude about your trades.This is what having a defined plan means
Make sure to re run this every times market changes ( it did on May 6th).... everything is outlined in stress free trading.....I am curious to know what you think about this book!

I started reading stress-free trader and did a review of the first seven chapters

Glad you mentioned it.

R.I.P. Andy Zektzer (ZTR), 1960-2010.
Please visit this thread for more information.
Visit my futures io Trade Journal
The following user says Thank You to ZTR for this post:
 
(login for full post details)
  #186 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received

This will be quick. Down $82 today.....3 trades. 1 loss was legit. I made a mistake in my entry. Buy stop was one tick to low and prices did not close where I thought they would. 9 tick stop. Thats ok. 2 more trades, nearly perfect entries, VERY slow market....I lost discipline to hold the trade. To slow for me today. I just got out with 3 ticks on one and BE on the second. Of course, both trades paid at least 20 ticks.

I will posts charts, etc later tonight. Have been real busy today on the phone, running errands and taking my kid to and from her first day at 2nd grade. Daddy can't miss that! Its why I trade, or at least one of the reasons.

Hindsight is 20/20, but my edge did play out today, just did not have the patience to stick it out. My fault. Lesson learned.

Better tomorrow.....actually, I probably won't post the charts later tonight. I'm tired and worn out from a grueling day. Will do other trade related stuff but done in front of charts.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
The following user says Thank You to PandaWarrior for this post:
 
(login for full post details)
  #187 (permalink)
 gabga100 
New York
 
Experience: Advanced
Platform: NT
 
gabga100's Avatar
 
Posts: 147 since Nov 2009
Thanks: 44 given, 72 received


ZTR View Post
I started reading stress-free trader and did a review of the first seven chapters

Glad you mentioned it.


Great , I think it is a nice book, probably not the most complicated or the most insightful, but has a couple of interesting idea's that are nicely exposed..... I am glad you enjoyed it .....

You know what you know but you do not know what you do not know.
You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.
 
(login for full post details)
  #188 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received

Got up a tad to late to make the big sell of early in TF. Did not want to chase so let the remainder go by. Truth is, I was chicken to re-enter.

Waited around and around....and got chopped up.....yes I had some legit entries. And I took some of them. But it was moving SO slow, I just could not hold the good entries long enough. So good entries are exited early, bad entries are held too long. Same old song and dance. I need a different drummer. I am bored with this one.

Net loss of $376.00 My biggest loss ever in cash.

I will be back on sim tomorrow and maybe the next day to clear my head. I also started watching a 12 range chart as well. I wonder if that is freaking me out? It makes me second guess my entries. I will dump it tomorrow on sim and see what happens.

I am hungry, so I'm gonna eat. Then some errands and then I'll try to get the chart and spreadsheet up. Believe me, its ugly.

Also gonna have a heart to heart with my trading partner. That always seems to clear my head.

Even though my trigger pulling issue seems to be over, it seems to work best on the bad trades. Something is not right.....I don't feel it right now......

Suggestions?

PS...its much later now. I've had an opportunity to really look things over . Three major things were wrong the last two days: The addition of the 12 range chart really threw me. I second guessed every entry because of it. The edge last month did not include it. I was irresponsible to add it.

Second, I have no trade zone after a move down or up to allow price time to consolidate. This was a key point in avoiding losses in the chop. I violated this yesterday and today. When the real trades set up, I did not have the heart to enter after having been so beat up.

Thirdly, the high probability entries I worked so hard to identify last month. I have not been taking them. Instead, I've been late, this causes me stress since the stop must be placed correctly, it is now much further away than I would like. This is compounded when the trade moves against me a bit during its natural course of testing and retesting. But I cannot afford a full stop at the place where the stop must be so therefore I have panicked and punched out early with a small loss or small winner. Unfortunately, most of these have been small losers although I had a couple larger ones today.

Game plan for tomorrow:

1. First, trust the HPE's I developed.
2. Take them when they set up, not later. I promise if I do not enter when the set up appears, I will not enter late. I will pass entirely and take the next one.
3. Once in a trade, I will hold till over, target or stop. Whichever comes first.

In examining todays action, my two best trades opportunities were HPEs. Most of the trades I took were high risk, low payoff opportunities. Some did pay, I did not hold them long enough to realize it though. While my no trade zone did have about 5 real trade opportunities, there was no reason to trade them. Instead, I should have taken the HPE's earlier and the waited until price told me it was ok to trade again. This will be my task tomorrow, avoid the no trade zone after a move and wait until price once again says its time to trade again.

I have posted my chart after first deciding not to. But I promised the good the bad and the ugly, so if you like looking at ugly, please see the chart below. Otherwise, save yourself the trauma of looking at an ugly chart.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Attached Thumbnails
Click image for larger version

Name:	10 August TF Chart.jpg
Views:	191
Size:	204.0 KB
ID:	18384  
Started this thread
The following 3 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #189 (permalink)
 jinhar 
mumbai maharashtra/india
 
Experience: Beginner
Platform: Ninja
Trading: Crue/Tf
 
jinhar's Avatar
 
Posts: 289 since Jun 2009
Thanks: 23 given, 764 received

Hey Aztrader,

Adding another Chart to the workspace will create confusion specially when u are trading Live markets .. To gain a constant result on live markets u will need to stick with one setup adding higher range chart will make u second guess your entries on your lower .. and specially if u are not used to it ... u just need to stick with one set of workspace and get used to it in live cash market .. remember Sim doesn't come close here u will need to get used to trading your method on live cash market and to get used to it u will need to stick with the system u know that works from the Sim .. Don't change anything for at least few weeks and see how it goes .. that's just wad i have come to notice in my own trading .. hope that helps ...


Best Regard
Jinhar

Visit my futures io Trade Journal
The following 3 users say Thank You to jinhar for this post:
 
(login for full post details)
  #190 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received



jinhar View Post
Hey Aztrader,

Adding another Chart to the workspace will create confusion specially when u are trading Live markets .. To gain a constant result on live markets u will need to stick with one setup adding higher range chart will make u second guess your entries on your lower .. and specially if u are not used to it ... u just need to stick with one set of workspace and get used to it in live cash market .. remember Sim doesn't come close here u will need to get used to trading your method on live cash market and to get used to it u will need to stick with the system u know that works from the Sim .. Don't change anything for at least few weeks and see how it goes .. that's just wad i have come to notice in my own trading .. hope that helps ...


Best Regard
Jinhar

I dumped the 12 range chart. Thanks. I wanted to earlier but thought I needed it. Buts its not part of my edge.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread

Closed Thread

futures io Trading Community Trading Journals > Zen & the Art of The Small Account


Last Updated on July 25, 2011


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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