Zen & the Art of The Small Account - Trading Journals | futures io social day trading
futures io futures trading


Zen & the Art of The Small Account
Updated: Views / Replies:124,858 / 994
Created: by PandaWarrior Attachments:228

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

Closed Thread
 228  
 
Thread Tools Search this Thread
 

Zen & the Art of The Small Account

  #341 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

Day 1 with updated trade plan

Spent the weekend doing market replay, really honed in on some skills I felt I needed to work on.

Result: 5 trades, no fear. Daily profit target hit.

Done in 45 minutes. Would have been sooner but passed on two trades that were on my trade chart but conflicted with my filter chart.

All told, I give myself an A. I trailed my stop correctly, entered only with confirmation on my filter chart and managed to execute 5 trades with the best precision I've ever demonstrated.

This week is about growing confidence and having a series of small wins. My daily profit target is small right now, next week it will be slightly larger. And then the week after that, larger still, after that, will begin to scale up in terms of size.

Gonna go be a daddy now!

Happy trading...

Cheers.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 8 users say Thank You to PandaWarrior for this post:
 
  #342 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


torroray View Post
Hi AZ,

Been reading with interest.

Quite number of trade you taken. Commission must be huge.

With a small account and the trade you took wouldn't your broker classify you as pattern day trader and restrict your trade?

I ask bcoz I trade FX.

Well the number of trades over the month of August was 75. That works out to 3.75 trades per day. I don't think this is excessive. I took five trades today. 4 winners and 1 loss. For a futures day trader, this is in line with accepted "norms" I think. Maybe even on the low side. But I have this theory that says he who trades less, makes more money. All the Market Wizards say that over trading is the number one cause of trader blowout.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #343 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

Day three


Did not have time to post yesterday but it was net loss day. Traded before the FOMC (I forgot about it) and just wasted ticks in the chop.

Today, followed rules and trading plan to the letter, made my daily profit goal on two trades and done for the day inside 30 minutes.

Discipline, discipline, discipline. This is the ticket.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #344 (permalink)
Elite Member
Toronto
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: CL , 6E
 
Posts: 197 since Jun 2009
Thanks: 752 given, 252 received

Way to go Aztrader!!!
Yes , discipline is key in this business !!


William Hershey went bankrupt twice before finally succeeding at creating Hershey chocolate.

Henry Ford was bankrupted five times in his effort to create the Ford Motor Company

RH Macy lost 7 stores before finally launching Macy's in New York


Walt Disney went bankrupt several times before Disneyland

"Harry Potter" was rejected by 12 publishers.

Gone With the Wind: rejected 36 times

We need to get back up after our failures and try again. Never, ever, ever, ever, ever, ever give up


The following 13 users say Thank You to soumi71 for this post:
 
  #345 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

One more profitable day

Two trades today, 150% of my profit target met. One more day at this level and then increasing profit target by a factor of 100%

Both trades were perfect signals, execute at the exact correct place and managed really well. The first trade I exited early as it was getting close to a double top and an important fib level so I took the profit early. The trade did pay the entire target but only by one tick. I am ok with that. The next trade was like the first, great signal, good execution at the entry price and this time no resistance to stop the trade before target was reached.

Something has changed in me these last few days. I can't put my finger on it but I feel it. Like a wind blowing or something. Its to early to tell of course but it feels different in my soul. The feelings of desperation are gone and are replaced with cautious optimism. I've felt this before as things began to change for the better. It's slow at first and gains momentum as I continue to do the right things over and over again.

Time is on my side. I only need to be patient, not be greedy, execute my plan with as much precision as possible and then live life.

Cheers.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 5 users say Thank You to PandaWarrior for this post:
 
  #346 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


soumi71 View Post
Way to go Aztrader!!!
Yes , discipline is key in this business !!


William Hershey went bankrupt twice before finally succeeding at creating Hershey chocolate.

Henry Ford was bankrupted five times in his effort to create the Ford Motor Company

RH Macy lost 7 stores before finally launching Macy's in New York


Walt Disney went bankrupt several times before Disneyland

"Harry Potter" was rejected by 12 publishers.

Gone With the Wind: rejected 36 times

We need to get back up after our failures and try again. Never, ever, ever, ever, ever, ever give up


Funny you should post this. I was looking for this exact bit of information yesterday to use elsewhere and could not find it. Thanks so much for posting.......Winston Churchill is the source of the last quote by the way.....that one I have hanging on a wall......they were spoken during the darkest days of WWII to a graduating class of college seniors if memory serves me correctly.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
  #347 (permalink)
Just starting out...
mem,tn
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: CL,GC,TF
 
rfharris's Avatar
 
Posts: 11 since Jun 2010
Thanks: 5 given, 15 received

Contracts and Targets

Az i have been following your post i'm happy to hear that you are finding confidence in you trading system that is one of the most important things a trader must have. I find that has been a major problem in my trading but i to have found confidence and it has shown up in my trading acct. as it is very small 11k i'm trading Cl, GC & TF 2 contracts for profit target of 450.00 per day and i already hit my weekly target this. I would like to ask you about your acct size,contracts,and targets if its not to much to ask.

The following user says Thank You to rfharris for this post:
 
  #348 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


rfharris View Post
Az i have been following your post i'm happy to hear that you are finding confidence in you trading system that is one of the most important things a trader must have. I find that has been a major problem in my trading but i to have found confidence and it has shown up in my trading acct. as it is very small 11k i'm trading Cl, GC & TF 2 contracts for profit target of 450.00 per day and i already hit my weekly target this. I would like to ask you about your acct size,contracts,and targets if its not to much to ask.

rfharris,

Thanks for commenting....it really is a personal journey!

As to my personal stuff, my account size will remain private but currently I trade one contract and I am on a trading plan that calls for a week at a small profit target, if that is hit every day, then double that the following week. If that is successful for an entire week, then move to 150% of that. So in three weeks, my profit targets will have tripled. Once that is done, I'll add another contract to the position and gradually add size while holding the number of ticks steady for my profit targets. I don't try to get all of the ticks in one trade.

My targets currently are fixed and at some point, I will add a runner. However, I have learned where to put the runners on and so there is really only three places from where I will enter a trade with the idea of including a runner. That happens 1-3 times a day for me currently. And if I have my daily profit target filled without a runner set up occurring, then there will be no runner trade that day as I will have already left the building.

As to multiple instruments, I don't currently believe in trading more than one. I find its hard enough to keep up with one let alone three. I have an entry chart and two filter charts. If I had nine charts to watch, I'd be broke in a week! I'm just not that good! However, if you can trade three instruments at the same time, then more power to you. I just believe in becoming an expert in whatever it is you are trading and that's hard to do one instrument let alone three. Anyway, that's my two cents worth.

CL is my weapon of choice at the moment and probably will be for quite some time. I like the way it moves, the dollars per tick and I really like the ranges it trades in. I feel like the margin for error is better there. You can be wrong about the direction of a trade or the daily trend direction and still make some money whereas other contracts punish you right away for the slightest mistake about the daily direction.

Hope all this rambling helps....and thanks again for stopping by to comment.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following user says Thank You to PandaWarrior for this post:
 
  #349 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

Profitable, just barely

Tough day today. I got two set ups. One was right into support. I took it and then noticed the support. I quickly move my stop to BE+2 and waited. It painted 6 ticks of profit, then stopped me out and then went to make a new high. I managed a poor trade very well. The long for a new high was not a set up for me so no trade.

There was another short but I passed as this time I was looking for support to short into and this time the support was far enough away but I did not like the price action. So I passed. I am done for the day as I have things to attend to and I am leaving town for a couple of days.

So the week is profitable by 25 ticks. I had one losing day on FOMC day and that loss was small. I missed my weekly profit target by 25 ticks but all in all, I am happy with the way the week went in terms of trade selection and management.

Next week I'll continue on the 1 contract, one profit target goal for at least two days so I can get my tick count to where I want it before moving up in profit ticks.

Have a great weekend and don't think about trading at all.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 3 users say Thank You to PandaWarrior for this post:
 
  #350 (permalink)
Elite Member
Arizona
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus/Zen-Fire
Favorite Futures: ES
 
Posts: 154 since Jun 2009
Thanks: 708 given, 168 received


Good job AZ. Hard work pays off.

Have a great weekend.

Mahlon

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

Closed Thread



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

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
paper account real account interactive brokers Mehdi IB Trader Workstation 15 January 6th, 2012 12:16 PM
Big time frames with small account Morainer Psychology and Money Management 10 June 24th, 2011 04:16 PM
Growing A Small account - Have to start somewhere cgleckman Trading Journals 26 April 4th, 2011 01:46 PM
My account got messed up & lost 2K cause I did not wait on a support call thinkfuture Traders Hideout 8 November 3rd, 2010 01:25 PM
Best Data Provider to compliment Zen-Fire for Mkt Internals & EOD Data? waverider Reviews of Brokers and Data Feeds 17 October 14th, 2010 11:33 AM


All times are GMT -4. The time now is 01:30 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 2017-12-16 in 0.23 seconds with 20 queries on phoenix via your IP 23.22.136.56