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:124,829 / 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 – 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 don’t 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

  #51 (permalink)
Administrator: Retired Backtester
 Vendor: speedytradingservers.com 
Rennes France
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB/Kinetick
Favorite Futures: Futures
 
sam028's Avatar
 
Posts: 3,366 since Jun 2009
Thanks: 3,573 given, 3,982 received


aztrader9 View Post
...
What happened here was I have had a long term short bias against the Euro and I have allowed that to blind me to the occasional short term trend to the upside.
...

You should avoid thinking too much; try to don't have any bias, because you don't know what's going to happen next. Nobody knows where eur/usd will be in 3 months, nobody, economy Nobel prices included, so it should not affect your trading.
Very easy to say, I know .

BTW, I don't agree about your EURUSD bias, for me sooner or later we'll have 1€=2$; but for sclaping and short term position, we really don't have to care about what will happen in the next 5 years...

Congrats for publishing your charts, it's harder to post losing days than posting good days.

Success requires no deodorant! (Sun Tzu)
The following 3 users say Thank You to sam028 for this post:
 
  #52 (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


sam028 View Post
You should avoid thinking too much; try to don't have any bias, because you don't know what's going to happen next. Nobody knows where eur/usd will be in 3 months, nobody, economy Nobel prices included, so it should not affect your trading.
Very easy to say, I know .

BTW, I don't agree about your EURUSD bias, for me sooner or later we'll have 1€=2$; but for sclaping and short term position, we really don't have to care about what will happen in the next 5 years...

Congrats for publishing your charts, it's harder to post losing days than posting good days.

Been reading the posts in the Psychology threads. Most of them recommend that you don't think to much while trading. I was just thinking the same thing earlier today. More of an intuition type of thing born of many many hours of screen time.

I've been bearish on a macro level for a long time on many different instruments/issues. And nothing currently going on in the world has happened to change that bias. But I realized this morning my macro level bearish bias has NOTHING to do with intra day trading. Its only important if my holding period is long term.

For short term trading, the only thing important is the current price and whether or not other traders like it or not. Period end of sentence.


PS...I think my brain has been sabotaging me on this. I have a need to be right about the Euro. At least I did...no more. I could care less if Europe gets it act together or not. Just give me something to trade!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

Last edited by PandaWarrior; June 26th, 2010 at 08:29 PM. Reason: ad PS
The following 2 users say Thank You to PandaWarrior for this post:
 
  #53 (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

My Stats MTD


Here is a snap shot of my daily trade stats summary.

This started on May 31st. My goal was to trade the $1000 sim account until the end of June to prove it could be done on a small account. I was doing decent until this last week.

Made some rookie mistakes....all mental.

MANY MANY of the early stop outs were very small after I got scared in the trade and bailed out with 1-3 tick loss.

Then there were plenty of larger ones this week as I just kinda lost it mentally.

Next week will be better and I hope to bring this back up to par.

Before any one goes ballistic over my per trade commission rate, that rate is inclusive of all exchange fees as well and not just my broker fees.

And I just found a math error on the total commission paid. Its set to calculate on a two car strategy and I am using 1 at the moment so cut that figure in half.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Attached Thumbnails
Zen & the Art of The Small Account-25-june-mtd-spread.jpg  
The following user says Thank You to PandaWarrior for this post:
 
  #54 (permalink)
Membership Revoked
British Columbia
 
Futures Experience: Advanced
Platform: NINJA
Broker/Data: ZEN
Favorite Futures: Crude
 
Posts: 1,091 since May 2010
Thanks: 192 given, 484 received

Great clip on Longoria, very cool... tx

 
  #55 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


aztrader9 View Post
Here are my charts from yesterday.....This in only in the interest of complete disclosure per BM.

I have no real interest in showing you these. They are embarrassing. I am actually better than this, or at least I would like to think so.

That's the point though, right? You won't be so quick to make these mistakes again, because you'll be sharing the results and be accountable for your actions. This will kick-in and help you focus during each trade, so long as you know at the time of the trade that you will be publishing the results for all to see later.



Good job.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #56 (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
That's the point though, right? You won't be so quick to make these mistakes again, because you'll be sharing the results and be accountable for your actions. This will kick-in and help you focus during each trade, so long as you know at the time of the trade that you will be publishing the results for all to see later.



Good job.

Mike


Of course you are right....but does not make it any easier...but I am glad I did....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #57 (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

Break The Micro Trendline

Last week was rough. Three losing days in a row. Ouch. But I traded against my rules and the trend. Bad news all around.

This week I determined to leave my bias at the office door and only trade with my rules. In other words, with the ADXVMA. Its right most of the time.

Trouble was, I forgot about another of my rules, Pay attention to Fib numbers, today, my fib numbers overuled the ADXVMA....I tried to be long after it turned colors, it ran right in to the 76% fib and reversed and went down all day after that.

You can see it on the chart.

Then it was back to catching a falling knife. That always hurts.

Finally took a log at S2 pivot with 100% fib extention and caught it almost on the money. It was a 20 tick trade that I only got three ticks on, for some reason, the trailing stop caught it and stopped me out....I am beginning to dislike trailing stops!

But I ended the day BE except for commissions. In my mind, that stopped the three day losing cycle.

Tomorrow, more focus, better entry discipline, I was late a few times today and I missed about 4 entries as my limit orders were a few ticks away from the final re-tracement price. That happens as well.

I am not un-happy with today's results. I showed I could reverse my bias mid stream and go with the flow.

Tomorrow is a winning day. 3 days down, 1 day consolidation and the rest of the week up!

It is my goal to end the month using the same sim account I started it with. Hopefully I can make some money as well but over all, I want to prove I can trade 30 days without changing my charts and at minimum, break even taking plenty of trades.

4 more days to go.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Attached Thumbnails
Zen & the Art of The Small Account-28-june-2010_1.jpg   Zen & the Art of The Small Account-28-june-2010_2.jpg  
The following 2 users say Thank You to PandaWarrior for this post:
 
  #58 (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

Power Outage

I had a power outage at my home this morning. I had seven trades done by then, but the power outage fubard pretty much every thing and I had to recreate my trades from memory as I lost all record of them in the crash.

Best I can remember, I was down 2 ticks after seven trades.

Its late, and I am out of time for today. I have a ton to do tonight so the journal will resume tomorrow....pending no further power outages that is....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #59 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

Get a UPS, you can find some good CyberPower ones on NewEgg for like $100 shipped that should power your system for 5 minutes or more, enough time to shut down properly.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #60 (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

Independence Day!


Last week I completed a month long experiment to see if I could trade a $1000 sim account all month and end the month with at least that much in the account. If successful, I was to go live today. If not, back to the sim until I can prove myself consistent enough to trade this tiny amount of money. If I can do this, I know I can trade my actual account.

I failed. But I almost made it. The same old demons most of us face sabotaged me. BUT I learned so much. In order of importance, here is what I learned.

1. Once in a trade, sit on my hands. Leave the initial stop alone. I would have made so much money if it were not for this one problem. My average winner was almost $20 more than my losers and I created so many losers by moving my stop to soon. The vast majority of these turned into winners had I just left my original stop alone.

2. Don't over trade. For me this means 4-7 trades a day.

3. My method works, trust it and play the edge. Don't second guess.

4. Stop trading at the daily stop loss. This alone would have kept me in the game long enough to successfully complete the challenge.

5. Stop trading if you make your profit on the first couple of trades.

So I refunded my "live" sim account over the weekend and declared that today is my personal independence day. It is the end of financial tyranny and the beginning of financial liberty!

More to come...............

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 11 users say Thank You to PandaWarrior 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 02:14 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 2017-12-15 in 0.16 seconds with 20 queries on phoenix via your IP 54.82.56.95