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


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

  #71 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
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haven't put any trades on as we are just trading in a tight range, most likely due to dull lunch hour. will have some food too and be back in an hour


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  #72 (permalink)
Rory
 
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mastadee View Post
guys with small accounts, there is a new emini trading today on the CME. Russell 2000 (RTY) started to trade today

For anyone on NT 7, you will need to update to the latest xxxx.35 version to have RTY appear (it is mentioned in the .35 release notes). I shutdown NT 7, upgraded but it was not listed in instrument manager, "reset instruments" (Tools > Options > Data) and restart was required before it added as a normal instrument.

If on NT Continuum / NT Brokerage like my assistant still uses you will get a live feed but a not authorized to trade live warning so SIM only until you give NT Brokerage their $. The plan to run in parallel for quite a while is a bit of a pain for volume until they switch off TF

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  #73 (permalink)
 
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 mastadee 
Mexico City, Mexico
 
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After the morning session, I didn't take any more trades. So here is just the excel sheet and daily P&L. Nothing really good overall as I got stopped out on every CL trade but that happens and need to see later this week or next week when I hit 100 trades. Then I'll see how I will set the ATM



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  #74 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
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As mentioned before, it was a frustrating morning session where I was pretty much right on all of my CL trades. hence after it happened for the 3rd time, I took a step back and just observed and didn't put on any trades. Then took a short and again was stopped at BE. For a trader this is very frustrating and pretty hard on emotions because in your head you start calculating missed profits. And I could've easily just put reenter the trade but it is these situations where you need to remain calm and rational analyse the price.

For me it's always best to just sit on my hands otherwise I'll tend to overtrade and just get upset and enter maybe a trade without proper reasons because I'm "emotional" and just pissed. These are state of minds which do not really help in trading and hence it's always best to step back and reassess. Trading psychology is very important and one has to learn to not get too attached to a single trade and just carry on and wait for the next opportunity.

Overall an okish day, no rules broken, just not enough earned...

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  #75 (permalink)
 
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 mastadee 
Mexico City, Mexico
 
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And my daily statements



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  #76 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
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obviously green is way too small compared to red...winning days should be more than losing days


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  #77 (permalink)
 
mastadee's Avatar
 mastadee 
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here is my prep sheet for today

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,000 Live trading account challenge - CL & ES-07-11-2017.pdf  
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  #78 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
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Ok here are my first trades of the session:

Trade 1:

Entry: 44.30
Stop: 44.22

Was looking for a break higher as OR-H held and we just traded back up, first it came close to my stop then back up to the highs and +3 but it couldn't go through the RTH HOD yet and stopped out

Trade 2:

Entry: 44.27
Stop: 44.19

Again long, as after being stopped out, the OR-H held again and we traded back up, unfortunately, ATM moved stop to +1 after being +4 and then out at entry. But we then just continued up and target would be hit.

Trade 3:

Entry: 44.36
Stop: 44.28

Reentered with a buy stop above HOD (3T higher), thought if we would come back to the highs then the chance to go towards 44.50 should be very probable. However, I was moving my target and I did something wrong and accidentally clicked and out with +1...very stupid on my part as it went up...




Well just need to wait for the next set-up now...

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  #79 (permalink)
 
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 Rrrracer 
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Really admiring your ability to stick with the 100 trade sample before you start messing with your ATM... I'm at the stage where I'm still testing things out, trying new ideas, etc. and don't always have the patience to stay the course without changing a variable.

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  #80 (permalink)
 
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 xplorer 
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Rrrracer View Post
Really admiring your ability to stick with the 100 trade sample before you start messing with your ATM... I'm at the stage where I'm still testing things out, trying new ideas, etc. and don't always have the patience to stay the course without changing a variable.

I believe one of the more difficult aspects to balance in this business is to keep a system that you can get familiar with long enough so that things start making sense, but also recognizing when something is not working ("insanity is doing the same thing over and over again..."). But that comes with experience I think.

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Last Updated on October 5, 2017


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