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:124,832 / 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

  #841 (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


bluemele View Post
I am not sure this is real. I think he really isn't from AZ and is really from New Mexico! haha...

Yes, great work! Keep it up!

Actually I am from California but AZ is my adopted home state.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #842 (permalink)
Trading Apprentice
Phoenix (basically mexico city)
 
Futures Experience: Beginner
Platform: ninjatrader
 
Posts: 15 since Oct 2010
Thanks: 1 given, 6 received

"Breakouts suck in my opinion on CL! Stops too large and it could just be a nice head and shoulders pattern.

If it is an ascending triangle, then the place to buy is at the trendline bounce right. Stops can be much smaller.... Not a great safe trade though, so I think my answer for me is to just sit them out unless the market is exploding up and just crawling down etc..."

Do not want to hihack AZT's thread here, so just a quick comment...

Keep in mind I am a beginner with beginner thought processes!



Concerning a breakout...

So a possible scenario is lows getting higher with price testing resistance once again; however, this time even though traders are hitting into the bids, others just keep bidding it. Bid never goes offer. Offers pull, buy stops are triggered just above resistance and BAM you are up 20 ticks instantly. I feel this is a MUCH higher probability trade than drawing a trendline with an entry.

Things I like about this setup:

1) Buying before the breakout thus maximizing tick accumulation.
2) Entering with momentum
3) Immediately getting an edge.
4) I know within a short amount of time and tick loss if I am wrong.

The following user says Thank You to nepenthean for this post:
 
  #843 (permalink)
Trading Apprentice
Phoenix (basically mexico city)
 
Futures Experience: Beginner
Platform: ninjatrader
 
Posts: 15 since Oct 2010
Thanks: 1 given, 6 received


"The downside to this is if the short signal I just took is now invalidated by a long signal, what do I do? A rules system says exit short, enter long correct? Where is discretion in this? Is the short really the valid trade and the long is a fake? Or did I manufacture a short when a long is the real one? Who knows."


Have been reading your journal and am a bit inspired to start one of my own, but most days getting up to trade and then working all day exhaust me by day end enough not to inaugurate a project.

I assume the premise to trading is entering with momentum. If I see a setup to short and the momentum I thought was there is not (ex. offer goes bid immediately after entering), there is no need to question for too long: "Maybe I should just give it a little while longer?" +1, +2 ticks down. We shorts are now looking to bail with each + tick. Scared money is looking to reduce pain. Money sitting on the sideline sees this and bids price further. So new money is arriving. What better setup could there be? That $hit is going to pop.

The following user says Thank You to nepenthean for this post:
 
  #844 (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


aztrader9 View Post
Well not quite....but I stated I wanted to try for a 100 tick trade.....There were two of them today. One short and one long. I got a piece of both and ended +75 ticks today.

Today I made an error in execution but I did it on purpose. I used a limit order to get in a trade as opposed to the normal stop order I use. This resulted in a quick stop out as price just plummeted through my position. So I went back to the normal stop order I use to get taken into a trade vs having the trade trade through a limit order.

I also had a couple of non plan trades as I was testing some theories regarding S/R. Both these trades worked out well. I may add them in a week or so to my trade plan if they pan out.

I also had a break out/down trade after the short trend had gotten started. It was the first time I used this method on purpose. The idea is this, if price retraces a bit in a trend BUT not enough to come back to the MA, take the break out of that small pull back. I did and it was successful. Thank you to my trading friend from yesterday for this bit of advice.

What I did wrong today:
1. I used a limit order instead of my normal stop order. I won't be doing this again any time soon unless I figure out how to use them appropriately.

What I did right today:
1. I was much more focused today even after another late night at my mother in law's house for a mini family reunion. This is three nights in a row I have gone to bed hours after my normal bed time. Sleeping in tomorrow!
2. I did not second guess myself with regard to entries.
3. I was stopped out on a CTT but I never got a signal to go the other way and so I entered that same trade again but this time I used the break out idea from my trader friend to get back in.

Plan for Monday:
1. Continue with the idea of having fun while trading
2. Take my signals and only my signals. I will test the SIM ideas later. I found doing this kinda interrupted the flow of what I was doing.

Cheers

Great Read Brioni! A+ on the g Wrong list. Really happy for you hitting your stride and getting out and having some fun too.... This week you are getting a split finger fastball coming at you, right down the middle bro, f'n hit it!

The following user says Thank You to syxforex for this post:
 
  #845 (permalink)
Elite Member
Northeast US
 
Futures Experience: Advanced
Platform: Ninjatrader
Favorite Futures: ES & 6E
 
Joules360's Avatar
 
Posts: 35 since Nov 2010
Thanks: 29 given, 16 received

Think about changing your instrument?

Aztrader:

I am fairly new to the forum and I have been reading to catch up with your journal. I commend you for trading and hanging in with the CL, however, have you thought of moving to a more stable instrument? Trading the CL on the 6 range is tuff. I cant blame you as you had said that some days you just cant read price action. That is because the action on the CL has no rime or reason on some days. I know traders that trade it on the 20 range chart with a 21 tick stop and they go to BE+1 after 12 ticks. CL just does not really work well with small range bars and tight stops. Unless ofcourse you hit the perfect trade that takes off. However, it does not really seem consistent enough for me.

I left the CL myself for the 6E. It is much more stable and when it comes out of chop it trends real well. You can move your stops to BE +1 fairly quickly and trade it on a 4 range chart with a 8 range or 5 min confirm chart. It is also $12.50 per tick and more bang for your commission buck.

I think it would be worth your while to at least try your setups on SIM with the 6E. It will be a much calmer trade and you will be more consistent with your wins and overall trading outcomes. The CL can move to stop you out and then run the way you wanted it too in the blink of an eye...lol.... I was frustrated, until i moved to the 6E. I also put up the 6S and the 6C when the 6E is in chop with the possibility of trading them.


Just my 2 cents.

Joules360

The following 2 users say Thank You to Joules360 for this post:
 
  #846 (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

Ouch day

ugh....nasty day on CL. I hit my daily stop today. -49 ticks

What I did right today:
1. Today was really tight. I was really patient. It did not help.
2. I limited my trades to 5.

What I did wrong today:
1. I did not adjust my targets based on the ADR
2. On trades 3&5 I did not follow my price action rules
3. I let a couple winners turn into losers

Plan for tomorrow:
1. I noticed a pattern today in my journal...that of not adjusting the targets based on ADR. That mistake will not happen again.

Cheers

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-2011-04-04_1057.png  

Last edited by PandaWarrior; April 4th, 2011 at 03:24 PM.
The following 7 users say Thank You to PandaWarrior for this post:
 
  #847 (permalink)
Elite Member
denver, colorado
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,242 received

Combine as "structured practice"?

AZ - man, I've just caught up with your journal - what a ride trading is, eh? THanks for sharing all this, its been helpful to read another's struggles and successes.

After the discussion a while back about Topstep, I looked into it a bit - I wasn't sure whether it made sense to get funded by them but it did look like a good way to practice in a more structured way and possibly get some coaching. I think you've been with them for a while now - could you share your thoughts on your experience and whether you'd recommend it as a structured practice program? (I think you're still with them, no?)

thanks again - this journal really has been helpful.

Surly

 
  #848 (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

Bored

Another boring day in CL....at least until I decided to check out and watch Rodger Feltons webinar...then it picked up a bit....oh well

Only two trades today. Net +2

There were of course, other trades, but the pace of tape so early this morning did not inspire confidence at all. So no trades even though they worked out. I took a break out trade that felt somewhat legit....but it was an instant stop out.

So I went to have some coffee and then back for Rodger's presentation. I learned a few things, most of which do not fit with my style and so probably won't implement at all but I attended to expand my horizon. Thanks Rodger.

So no list of rights and wrongs today. Did not do enough trading to warrant a long list.

Cheers

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-2011-04-05_1207.png  
The following 2 users say Thank You to PandaWarrior for this post:
 
  #849 (permalink)
Elite Member
Malaysia
 
Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
torroray's Avatar
 
Posts: 273 since Nov 2009
Thanks: 52 given, 59 received

az,

why do you use 12 R?

 
  #850 (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
az,

why do you use 12 R?

It tends to quite the noise from the smaller range bars....and I don't just use the 12R. I change the setting depending on the ADR....and I use a five minute bar to help....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

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 04:16 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 54.90.92.204