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:125,008 / 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

  #421 (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


Big Mike View Post
I would advise against it. I hide mine entirely. I want each trade to stand on its own merits and not be influenced by the rest of the day. But, I am human. I do check my pnl tab throughout the day. Most of the time it is just to confirm execution prices, as I know where I am at on the day because it is easy to remember the figures as you are trading... unless you are taking a bunch of trades.

Mike

I hid mine too.....thought better of it after thinking about it for about 15 seconds.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #422 (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

Easy profit day. I am learning to listen to that little voice inside that tells me when to quit while I am ahead. My daily profit goal was not quite hit but it was close. I switched to sim then promptly had a bunch of losers in a row.

Glad I listened to that little voice.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 4 users say Thank You to PandaWarrior for this post:
 
  #423 (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


+50 ticks on three trades. Done for the day

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:
 
  #424 (permalink)
Elite Member
Holland, Michigan
 
Futures Experience: None
Platform: ninjatrader
Broker/Data: CQG
Favorite Futures: Acoustic Guitar
 
trs3042's Avatar
 
Posts: 1,802 since Jun 2009
Thanks: 23,771 given, 5,600 received


aztrader9 View Post
+50 ticks on three trades. Done for the day


WOW!!! Way to get it done!!! Should make for a great weekend.

Rick

The following user says Thank You to trs3042 for this post:
 
  #425 (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

I've started to notice something over the last few days. My profit targets are too small. I've been looking for ten ticks most of the time. This seems to work pretty well, But I am also leaving money on the table.

Yesterday and this morning, I spent some time looking at targets. Turns out 20 ticks is pretty reasonable to expect from my normal entry. Often its more but truth be told, I don't know if I can sit through a scenario where I had 20 ticks of profit on the screen, then watch a pull back to my entry price or perhaps more and then see a 50 tick runner go from there.

So, what I am going to do Monday is get my regular ten ticks, then look for 20 the next time and if that is successful, I'll stop trading and then look for another set up, mark my entry price and then see how it behaves in terms of looking for say 50 ticks. Of course its not the same just watching, but perhaps it will make me think about the psychology of have 20 ticks of profit, waiting through the pull back and then seeing a bigger run happen. I've never done it before and so it could be an interesting experiment.

This will happen AFTER my normal trading of course. No way I will experiment with live trading.

The overall goal is to arrive at fewer trades, maintain the same stop I have currently, make more money per trade and reduce my risk by reducing the number of times I expose my capital to the market.

I believe it was Mark Twain that once said, "I am more interested in the return OF my capital than the return ON my capital". That being said, calculated risks are necessary and beneficial.

Another goal is to begin learning where and when to add size. Don Miller said "Its never about how many pots you win....rather its how much you win when you're right". I am beginning to sense that certain trades should be pressed. In other words, multiple lots. There are degrees of set ups. Certain set ups are better than others even though they may look the same to the casual observer. For instance, a set up that has a new daily high along with a deep retracement could potentially serve up a really nice runner back to the high or more of the day. This trade could be entered cautiously at first but as it progresses, more lots could be added on the pull backs. I realize this more advanced than I am currently able to execute on, but as I am seeing it happen each day, it deserves some attention in terms of watching to see how I would execute if I had an account size to accommodate the increased risk.

I think I will set up a spreadsheet to track this type of price action and subsequent trades along with the average ticks available. All after normal trading is over of course. Can't interfere with priority one at this point.

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:
 
  #426 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 844 received

why not just add one more car with a 20t target? and eventually once you know your obs are correct, move the 10t to 15t and go from there? just a suggestion.


aztrader9 View Post
I've started to notice something over the last few days. My profit targets are too small. I've been looking for ten ticks most of the time. This seems to work pretty well, But I am also leaving money on the table.

Yesterday and this morning, I spent some time looking at targets. Turns out 20 ticks is pretty reasonable to expect from my normal entry. Often its more but truth be told, I don't know if I can sit through a scenario where I had 20 ticks of profit on the screen, then watch a pull back to my entry price or perhaps more and then see a 50 tick runner go from there.

So, what I am going to do Monday is get my regular ten ticks, then look for 20 the next time and if that is successful, I'll stop trading and then look for another set up, mark my entry price and then see how it behaves in terms of looking for say 50 ticks. Of course its not the same just watching, but perhaps it will make me think about the psychology of have 20 ticks of profit, waiting through the pull back and then seeing a bigger run happen. I've never done it before and so it could be an interesting experiment.

This will happen AFTER my normal trading of course. No way I will experiment with live trading.

The overall goal is to arrive at fewer trades, maintain the same stop I have currently, make more money per trade and reduce my risk by reducing the number of times I expose my capital to the market.

I believe it was Mark Twain that once said, "I am more interested in the return OF my capital than the return ON my capital". That being said, calculated risks are necessary and beneficial.

Another goal is to begin learning where and when to add size. Don Miller said "Its never about how many pots you win....rather its how much you win when you're right". I am beginning to sense that certain trades should be pressed. In other words, multiple lots. There are degrees of set ups. Certain set ups are better than others even though they may look the same to the casual observer. For instance, a set up that has a new daily high along with a deep retracement could potentially serve up a really nice runner back to the high or more of the day. This trade could be entered cautiously at first but as it progresses, more lots could be added on the pull backs. I realize this more advanced than I am currently able to execute on, but as I am seeing it happen each day, it deserves some attention in terms of watching to see how I would execute if I had an account size to accommodate the increased risk.

I think I will set up a spreadsheet to track this type of price action and subsequent trades along with the average ticks available. All after normal trading is over of course. Can't interfere with priority one at this point.


The following user says Thank You to sysot1t for this post:
 
  #427 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary

@aztrader9

You inspired me with this thread and reminded me of the human side of the people behind the Point and Click.
You are awesome! I will write a big post one of these days while addressing some things that were discussed in these 40+ pages of your thread.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
The following user says Thank You to mattz for this post:
 
  #428 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received


aztrader9 View Post
+50 ticks on three trades. Done for the day

Excellent !! I think this is just the type of execution you have been looking for...


AJ
Nashville, Tennessee


"Life On The Edge of SR"
The following user says Thank You to tderrick for this post:
 
  #429 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received


aztrader9 View Post
I've started to notice something over the last few days. My profit targets are too small. I've been looking for ten ticks most of the time. This seems to work pretty well, But I am also leaving money on the table.

Yesterday and this morning, I spent some time looking at targets. Turns out 20 ticks is pretty reasonable to expect from my normal entry. Often its more but truth be told, I don't know if I can sit through a scenario where I had 20 ticks of profit on the screen, then watch a pull back to my entry price or perhaps more and then see a 50 tick runner go from there.


Careful, Az.... I think you may be morphing into a Break Out Trader! ; )

You're well on your way to being a very successful trader. I'm glad I'm here for the voyage.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
The following user says Thank You to tderrick for this post:
 
  #430 (permalink)
Elite Member
Canada
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: ES
 
Posts: 158 since Feb 2010
Thanks: 27 given, 34 received


The holy grail...


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 03:47 PM.

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 2017-12-17 in 0.15 seconds with 20 queries on phoenix via your IP 107.20.115.174