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$5,000 Live trading account challenge - CL & ES
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$5,000 Live trading account challenge - CL & ES

  #41 (permalink)
Mexico City, Mexico
 
Trading Experience: Advanced
Platform: IB & NinjaTrader
Broker/Data: Interactive Brokers
Favorite Futures: ES, CL
 
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Posts: 733 since Jul 2013
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07-07-2017 - Daily statements

Not too happy to post these, but I said it's a live account and need to do what has to be done

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  #42 (permalink)
Mexico City, Mexico
 
Trading Experience: Advanced
Platform: IB & NinjaTrader
Broker/Data: Interactive Brokers
Favorite Futures: ES, CL
 
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Posts: 733 since Jul 2013
Thanks: 1,262 given, 3,026 received

07-07-2017 - Overall P&L update

Obviously telling me that my winning days need to be more profitable to off set losing days! Down $-208 so far

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  #43 (permalink)
Legendary Market Wizard
Amsterdam, The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader 8
Broker/Data: NinjaTrader Brokerage
Favorite Futures: CL, ES
 
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Posts: 1,519 since Dec 2013
Thanks: 3,575 given, 7,186 received

Great journal!


First of all, thank you for keeping a detailed journal like this.
It's great to read how your are thinking and it's very inspirational.

I have a couple of questions, if you don't mind

You mentioned that trading a small account is more difficult than trading a larger account.
Can you elaborate on why that is exactly?
Is it because you use larger stops, have a higher daily loss limit, or is it only the scaling that makes it easier?

If so, can you explain your scaling method on your larger account?
Are you scaling in&out, all-in and scale out, ...

Thanks!

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  #44 (permalink)
Mexico City, Mexico
 
Trading Experience: Advanced
Platform: IB & NinjaTrader
Broker/Data: Interactive Brokers
Favorite Futures: ES, CL
 
mastadee's Avatar
 
Posts: 733 since Jul 2013
Thanks: 1,262 given, 3,026 received


GruttePier View Post
First of all, thank you for keeping a detailed journal like this.
It's great to read how your are thinking and it's very inspirational.

I have a couple of questions, if you don't mind

You mentioned that trading a small account is more difficult than trading a larger account.
Can you elaborate on why that is exactly?
Is it because you use larger stops, have a higher daily loss limit, or is it only the scaling that makes it easier?

If so, can you explain your scaling method on your larger account?
Are you scaling in&out, all-in and scale out, ...

Thanks!

Thanks @GruttePier,

these messages keep me going as it is kind of time consuming to write everything down in a very detailed manner. But I think, I found a good approach and will keep it up for the next 3-4 weeks. Then I'm on vacation but I'll see the feedback on fio and then reassess and might just keep it going for much longer.

I think the emotional part is harder for me as I have a tight risk limit and being down 300-700 is sometimes normal for me and then I'll just need a couple more trades to make it back which is of course easier when you have a 5-6lot trade on. For example on a 50k account you could give yourself 1k risk limit or even 1.5k, hence trading multiple lots let's say 3 lots at a time (with 8T stop - give you 6 trades in total if all were losers, to hit 6 losing trades consecutive is rare for me), then you could easily scale out. Like since starting this journal every session I had trades which were like 5-7T profit and then I might just book a BE trade, this gets annoying and does affect your emotional state. Now with 3 lots, you could already take 1 lot off at +5 and another +6 or more and keep a runner at BE entry or with a trailing stop. So the scaling out part is the most important I find. Also my last trade today, where I finally got it right with a long after confirmation with the double bottom.

I would normally not scale in as it sometimes just adds into a losing trade. Best to go all in with your position size, see how it goes and scale out or get stopped out. Hope that makes sense?

How's your trading going? Haven't checked your journal yet but will in a minute.

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  #45 (permalink)
Legendary Market Wizard
Amsterdam, The Netherlands
 
Trading Experience: Intermediate
Platform: Ninjatrader 8
Broker/Data: NinjaTrader Brokerage
Favorite Futures: CL, ES
 
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Posts: 1,519 since Dec 2013
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mastadee View Post
Thanks @GruttePier,
How's your trading going? Haven't checked your journal yet but will in a minute.

Doing well, thanks.
I'm experimenting with scaling in & out and am looking forward to the stats for differences.
That's why I asked

Keep up the good work!

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  #46 (permalink)
Market Wizard
Tallinn, Estonia
 
Trading Experience: Beginner
Platform: SC
Favorite Futures: NAS100
 
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Posts: 914 since Nov 2010
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I am not FIO police

But what this means ?

"The information provided by MDTrading should only be used for educational purpose and does not constitute an offer to sell or solicitation of an offer to buy any
securities of financial instruments or any advice or recommendation with respect such securities or other financial instruments."

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  #47 (permalink)
Super Moderator
London UK
 
Trading Experience: Beginner
Platform: CQG
Broker/Data: S5
Favorite Futures: Futures
 
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Posts: 4,894 since Sep 2015
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lemons View Post
But what this means ?

"The information provided by MDTrading should only be used for educational purpose and does not constitute an offer to sell or solicitation of an offer to buy any
securities of financial instruments or any advice or recommendation with respect such securities or other financial instruments."

Hi lemons

Did you post the above in the right thread?

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  #48 (permalink)
Market Wizard
Tallinn, Estonia
 
Trading Experience: Beginner
Platform: SC
Favorite Futures: NAS100
 
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Posts: 914 since Nov 2010
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xplorer View Post
Hi lemons

Did you post the above in the right thread?

Yes, every daily prep has / "here my daily prep sheet# "page 1disclaimer. Look lowest row.
See it your self :

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-4.html#post647704

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-3.html#post647544

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-2.html#post647336

Do I need to go furhter ?


And yes, yes I like very much what @mastadee is doing. Support / Resistance is my main trading idea, it works.

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  #49 (permalink)
Super Moderator
London UK
 
Trading Experience: Beginner
Platform: CQG
Broker/Data: S5
Favorite Futures: Futures
 
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Posts: 4,894 since Sep 2015
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lemons View Post
Yes, every daily prep has / "here my daily prep sheet# "page 1disclaimer. Look lowest row.
See it your self :

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-4.html#post647704

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-3.html#post647544

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-2.html#post647336

Do I need to go furhter ?


And yes, yes I like very much what @mastadee is doing. Support / Resistance is my main trading idea, it works.


Aaaah, now I see what you meant by "I'm not FIO police but what does that mean?", thanks for clarifying - I think I know the answer but I'll let Mastadee reply

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  #50 (permalink)
Market Wizard
Tallinn, Estonia
 
Trading Experience: Beginner
Platform: SC
Favorite Futures: NAS100
 
lemons's Avatar
 
Posts: 914 since Nov 2010
Thanks: 1,796 given, 2,215 received



lemons View Post
Yes, every daily prep has / "here my daily prep sheet# "page 1disclaimer. Look lowest row.
See it your self :

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-4.html#post647704

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-3.html#post647544

https://futures.io/trading-journals/42568-5-000-live-trading-account-challenge-c...ntract-2.html#post647336

Do I need to go furhter ?


And yes, yes I like very much what @mastadee is doing. Support / Resistance is my main trading idea, it works.

I am modest, I love what @mastadee is doing.

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