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)
  #651 (permalink)
 sharky 
MIAMI,FL
 
Experience: Advanced
Platform: NinjaTrader
Broker: Private
Trading: Zn,6E,6J
 
sharky's Avatar
 
Posts: 1,060 since Jun 2009
Thanks: 624 given, 3,904 received

try to just clear your head trust your indicators and use your gut...sharky

KILLING THE MARKETS DAILY
Visit my futures io Trade Journal
The following 2 users say Thank You to sharky for this post:

Can you help answer these questions
from other members on futures io?
Multidata
EasyLanguage Programming
Williams Fractal (NT8) indicator - Alert function implem …
NinjaTrader
Tips for directional bias during Asian Session?
Traders Hideout
No Scroll Position Size AddOn
NinjaTrader
Help figuring out how to calculate a VWAP study in excel
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
122 thanks
How many day traders are profitable?
64 thanks
how many hours per day do you watch the market?
17 thanks
Hedging NQ and MNQ 1-10...
13 thanks
Prop Firm Combines Criteria
12 thanks
 
(login for full post details)
  #652 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


sharky View Post
try to just clear your head trust your indicators and use your gut...sharky

Thanks @sharky, I think this is what it comes down to....just trust your system and go with it....I did today....and while not actually trading. I marked them in real time.....very nice today....I'll post later.

Back to real trading tomorrow....

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)
  #653 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


Here is my chart from today....I got the to computer about 6:30 and saw a trade a few minutes later....I am experimenting with widening my stops up a bit to give the trades room to work.....basically following the super trend indicator as the trail stop with a 20 tick target.

Most days this will work nicely if you are trend trading on CL...other instruments, maybe not so much depending on intra day movement....

Today was a good day. Feeling a little better physically although still recovering from the crazy flu my whole family got....right ear still jammed shut with crud though. No telling when that will go away. Constant ringing in that ear. Very distracting sometimes. Been that way for a month now. But mentally, feeling really good. Got my head cleared last night, went into the trading session determined to just follow the system.....golly that really works....

So the chart mark up is just some arrows showing where I placed my "orders" and the super trend is the stop placement with 20 ticks as the target.

I think the disgust I felt yesterday was really powerful. And @sharkys advice to trust the indicators and go with my gut is pretty powerful. Watched the movie Floored yesterday. One of the guys said if you think to much, you'll get killed. I think to much. At least during the trading hours. The time for thinking is after hours when you are reviewing trades and what went right and what went wrong. During trading hours, you just trade....take the signals, manage the money and go with it.

Thats my plan from hear on out.

Simplicity is the ultimate sophistication, Leonardo da Vinci


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

Name:	2011-02-10_1053.png
Views:	215
Size:	105.8 KB
ID:	30559  
Started this thread
The following 3 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #654 (permalink)
 wskid 
Montreal
 
Experience: Beginner
Platform: NT, TT
Broker: None yet....looking
Trading: Futures
 
wskid's Avatar
 
Posts: 24 since Feb 2011
Thanks: 8 given, 27 received


aztrader9 View Post
Here is my chart from today....I got the to computer about 6:30 and saw a trade a few minutes later....I am experimenting with widening my stops up a bit to give the trades room to work.....basically following the super trend indicator as the trail stop with a 20 tick target.

Most days this will work nicely if you are trend trading on CL...other instruments, maybe not so much depending on intra day movement....

Today was a good day. Feeling a little better physically although still recovering from the crazy flu my whole family got....right ear still jammed shut with crud though. No telling when that will go away. Constant ringing in that ear. Very distracting sometimes. Been that way for a month now. But mentally, feeling really good. Got my head cleared last night, went into the trading session determined to just follow the system.....golly that really works....

So the chart mark up is just some arrows showing where I placed my "orders" and the super trend is the stop placement with 20 ticks as the target.

I think the disgust I felt yesterday was really powerful. And @ sharkys advice to trust the indicators and go with my gut is pretty powerful. Watched the movie Floored yesterday. One of the guys said if you think to much, you'll get killed. I think to much. At least during the trading hours. The time for thinking is after hours when you are reviewing trades and what went right and what went wrong. During trading hours, you just trade....take the signals, manage the money and go with it.

Thats my plan from hear on out.

I must say I find it awesome that you are posting your charts like that, it's partly why I joined this site. We all need accountability and I hope to one day find it intrinsically. This place is really amazing, it seems like traders like to share thoughts because we all go through the same process. Keep on persevering!

Visit my futures io Trade Journal
 
(login for full post details)
  #655 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received

What the heck was I thinking? Yesterday was great for trading, today was/is ok, especially later in the morning. But somehow, I managed to mess it up. Biggest mistake today? I added a component to my trading without actually testing it real time. Big mistake. That component, while not significantly different than what I have had, was different enough to cause me hesitation and then jump to soon or to late.

I'll not make that mistake again. While I believe what I added has real value, I will not trade it until I fully understand the nuances of what it brings to the table. That may take a week or more.

For next week, I will trade what I know, and just watch the new until I am really comfortable actually trading it. Once it is grasped, I believe the signals will be very clear and very easy to trade. But for now, just watching it.

So the chart has some good trades but you will see where I screwed up.....pretty obvious....

Simplicity is the ultimate sophistication, Leonardo da Vinci


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

Name:	2011-02-11_1044.png
Views:	185
Size:	130.9 KB
ID:	30658  
Started this thread
The following 5 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #656 (permalink)
 supermht 
Naperville IL
 
Experience: Intermediate
Platform: ninjatrader
Broker: NT broker
Trading: NQ ES 6E GC CL
 
Posts: 959 since Feb 2010
Thanks: 1,189 given, 660 received

And max loss ?

 
(login for full post details)
  #657 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


supermht View Post
And max loss ?

Today's chart does not reflect it, but generally I like to see $1000 a day in profit and somewhere south of that for daily loss. I try to quit in the $500-600 loss area....Most of the time, I stop inside this number because I know from past experience if I get down that far, it can be tough psychologically to come back from. If I get down early, I will generally try to come back, If I have some success and then a string of losses, then as the day winds down, coming back gets harder and harder.

So I try to win early and often and quit. This has been much harder than expected.

BUT I am in the process of realizing how much easier it should be. I've had some light bulb moments recently about just going with the flow.....today I did that early but I made a mistake in sizing after my first loss and one of my winners early had only one lot on and that kinda threw me for some reason. So a trade that should have gotten me back even, only cut it down a little bit. So I got back to even and then started trying to trade something I was not really familiar with. This was disastrous.

In all reality, my day should have been over in the first hour.....but I screwed up and lost money today.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
The following 2 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #658 (permalink)
 supermht 
Naperville IL
 
Experience: Intermediate
Platform: ninjatrader
Broker: NT broker
Trading: NQ ES 6E GC CL
 
Posts: 959 since Feb 2010
Thanks: 1,189 given, 660 received

Thank you

that is pretty high for me, I just start trading CL with small account, I have daily loss limit at $300. I don't have profit limit, but after 3 trades each day, I will stop trading.

I also trade pullback, but only when price pulls back and touch MA, I pull trigger, otherwise I will wait for second entry.

The following 2 users say Thank You to supermht for this post:
 
(login for full post details)
  #659 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received

I've been thinking about some stuff lately and a post in @gordo 's thread started me thinking about another little important matter.

I have made some decisions about my trading this weekend. Mostly about focus and simplification of my life.

So I will be doing the following as an experiment this week:

1. My trade day starts at 30 minutes before the pit open. I can and will trade pre-market but not required.
2. My trading ends 2 hours later. No excuses and irregardless of P&L
3. I will use the next hour to do the following:
A. Enter trades into my MM spreadsheet
B. Review trades and enter a daily grade into my score card.
C. Enter the daily summary into my trade plan.
D. Complete journal here on BM....and post in @gordo's thread as my committment to the Big Mike Challenge
E. Quit all things trading related.

I will no longer be reading any other thread during the day. I have switched all my thread notifications to daily and will read them by email once a day and only respond to those that really interest me from my email client and not by logging into futures.io (formerly BMT).

The reason for this is simple. Trading and reading/studying about trading can be addictive. I do not wish to fall into the trap of abandoning my life for trading. The problem has been this, I currently don't have a hobby or interest outside of trading (except travel) that can fill the gap of a day with nothing to do so it has been easy to allow trading to absorb every waking minute.

But I have found something to do......I'm not gonna go into it here because it will offend some, but suffice to say, its important to me and to my family.

At the end of the week, if everything goes as planned, then I will revisit this and see where I am. If as I suspect, I reap very large benefits from this, then I will simply continue onward with the experiment except it will have become permanent.

So here's to a bold new experiment........

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
The following 9 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #660 (permalink)
 soumi71 
Toronto
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: CL , 6E
 
Posts: 200 since Jun 2009
Thanks: 759 given, 271 received


Sounds like a great plan ! Thank you for sharing
Good luck !

"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"

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