NexusFi: Find Your Edge


Home Menu

 





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


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one mastadee with 220 posts (875 thanks)
    2. looks_two xplorer with 15 posts (26 thanks)
    3. looks_3 rassi with 12 posts (25 thanks)
    4. looks_4 lemons with 9 posts (25 thanks)
      Best Posters
    1. looks_one mastadee with 4 thanks per post
    2. looks_two lemons with 2.8 thanks per post
    3. looks_3 rassi with 2.1 thanks per post
    4. looks_4 xplorer with 1.7 thanks per post
    1. trending_up 46,682 views
    2. thumb_up 1,132 thanks given
    3. group 50 followers
    1. forum 321 posts
    2. attach_file 264 attachments




 
Search this Thread

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

  #171 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
Platform: IB & NinjaTrader
Broker: Interactive Brokers
Trading: ES, CL
Posts: 733 since Jul 2013
Thanks Given: 1,262
Thanks Received: 3,029

Here are my trades for the session so far. 2 Stop outs, 1 winner and 1 BE. I changed my ATM and only have a BE once I reach +10T, however it is a bit hard to change habits and I took my last 2 trades off way before my target which was hit...

Here is the chart:




Trade 1:

Entry: 47.58
Stop: 47.66

Well, this one I entered while doing my daily prep stuff and thought we came down from the highs. However, kind of against my rules as I went in before the Nymex open and also before the OR was established. Was quickly stopped out in the chop before the open...

Trade 2:

Entry: 47.62
Stop: 47.70

I was looking for a break lower and break of OR-L, it quickly went onside +3T but then went back up to make a new HOD and I was stopped out again.

Trade 3:

Entry: 47.70 (2 lots)
Stop: 47.74

When we made a new high and didn't go through R1 with conviction, I entered 2 lots but with a tight stop at the high as I thought when we go back up then we could easily break the HOD and trade up towards even $48. It never really went against me and I took 1 lot off at +4T and tried to hold onto my 2nd lot for a target at OR-L. When it finally came lower and I saw that my auto BE kicked in when I had +10T, I was afraid we would go back up and I booked only +12T. Then of course it went down to my 20T target at 47.50! Afterwards it went back up but never to my entry and then later it dropped towards 47.10...

Trade 4:

Entry: 47.44
Stop: 47.52

I went short near yday's high and near the lows from about an hour ago 47.46. It quickly went +6T and then it quickly bounced back up and thought I might get stopped out so I manually took it off. Then of course it dropped and my target of 20T was hit, even went down 50T!!!

--> patience is key!!

Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Better Renko Gaps
The Elite Circle
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Futures True Range Report
The Elite Circle
Exit Strategy
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
Battlestations: Show us your trading desks!
26 thanks
The Program
18 thanks
  #172 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
Platform: IB & NinjaTrader
Broker: Interactive Brokers
Trading: ES, CL
Posts: 733 since Jul 2013
Thanks Given: 1,262
Thanks Received: 3,029

And I had a couple more trades:



Trade 5:

Entry: 47.10
Stop: 47.02

I went long after even 47 held as support but I managed it really bad as I manually moved my stop after I had +4T, still thought we were in a downtrend and it could easily move back to even 47 and my entry was at .10 so I couldn't have my stop below that level. Later it went up to exactly +10T (47.20) here my auto BE would've kicked in only to trade back to my entry...


Trade 6:

Entry: 46.92 & 47 (2 lots)
Stop: 47.02

I had a sell stop limit order below the LOD assuming that we can easily drop another 10-20T. However, it was filled right on the tick and then it quickly bounced back to even 47. I scaled in a 2nd lot just before my stop as I thought even 47 should act as some resistance. It quickly went back lower and I took 1 lot off right at my entry. Then it went back to 47 and down to my first entry which held again as support and it came back up quickly so I just took it off near my entry. Later I went back up and I would've been stopped out.

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #173 (permalink)
 
Rrrracer's Avatar
 Rrrracer 
On the road
Webinar Host
Trading Nomad
 
Experience: Intermediate
Platform: TradingView
Broker: Oanda
Trading: FX
Posts: 2,512 since Feb 2017
Thanks Given: 17,582
Thanks Received: 9,752



mastadee View Post
I have to think what will work better for me, either I scalp for 4-5T and book the profit and do it many times a day or just wait for larger targets.

But over the long run, bigger targets and a better risk-reward ratio will help as you don't have to be right all the time. With scalping I would need 2 winners to make up for a bad trade which doesn't really work out.

Totally agree with this, it's what I've found in my sim trading... I can clip off a number of +5T trades but to get a lot of those, I have to give the trade more breathing room than I should. Fine if I can be right most of the time, but a loser knocks me down a couple pegs if I don't manually close it out fast enough. My R:R is all screwed up LOL.

Nice to see you made it to your 100 trade target. I'm guilty as charged on fiddling with things before I have a statistically substantial number of trades on which to form a valid analysis. The trader needs more work than the method!

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #174 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
Platform: IB & NinjaTrader
Broker: Interactive Brokers
Trading: ES, CL
Posts: 733 since Jul 2013
Thanks Given: 1,262
Thanks Received: 3,029

Had a couple more trades but all just BE ones...




Trade 8:

Entry: 47.13
Stop: 47.05

I entered with a stop limit buy order as I thought we were having a 1-2-3 reversal and was looking for a move back to yday close. Problem was it was right at lunch time and market seemed dead. Additionally, it couldn't really break ONL at 47.14 and I had to take some calls, hence I just took it off. Afterwards, I would've been stopped out anyways...

Trade 9:

Entry: 46.90 & 47 (2 lots, scaled in 2nd)
Stop: 47.03

I put on a stop limit sell order around 12pm when I thought if we finally make some new lows we might get going if we have stops around 46.80-46.90ish. 1h later I was finally filled but it just went 3T onside and then traded back up. First, I thought that my stop at 46.98 is not a good location as the even number would provide some resistance, hence I increased my stop level and put a limit sell-order at even 47 with a stop just above and still risking 8T per lot on the avg. entry at 46.95. We were so close to the Nymex close and thought I would be stopped out as it didn't really look promising to finally go lower. So I took 1 lot off at entry and then was +4T and I manually put my stop to +1T which was hit and then it went down to 46.84... yea would be +11T and auto BE would've kicked in and then stopped at +1T as well. Always a bit tricky to trade the close as it just goes up and down very fast. Hence, I normally don't trade it but tried today...




Trade 10:

Entry: 2474
Stop: 2746

Short on the ES after we came back up to the session highs. The market was pretty slow and first it went a bit against me and then it finally went down 1pt where I had a limit buy order. It was touched but not filled and I manually moved my stop to entry because NQ was trading back up and I thought we might end the day at the ATH. However, after being stopped out it finally sold off and my target would've been hit...even could be easily a 3pt winner but well...

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #175 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
Platform: IB & NinjaTrader
Broker: Interactive Brokers
Trading: ES, CL
Posts: 733 since Jul 2013
Thanks Given: 1,262
Thanks Received: 3,029

here is the excel file, as you can again many BE trades and the yellow marked ticks show a high of 38T in total compared to realized of only 0T. large miss there...



Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #176 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
Platform: IB & NinjaTrader
Broker: Interactive Brokers
Trading: ES, CL
Posts: 733 since Jul 2013
Thanks Given: 1,262
Thanks Received: 3,029

Not a good session again, first started too early when I entered a trade before the open what I normally never do as my rules suggest only to trade after the opening range has been developed. So of course this mistake cost me and I was stopped out.

Then, I tried to trade with my new ATM but wasn't patient enough to wait for my targets. It is harder because now I need to stay in the trade much longer and it messes with my patience. But as my analysis from yesterday showed, patience will be rewarded!! Of course, when I check where I was stopped at BE or took it off manually at BE and before I was in profit and add these up I would've had like $350 more...so that's the annoying part with 1 lot so it is a struggle overall and I thought the challenge would be easier. Therefore, I traded a couple times with 2 lots and booked a small profit on the first lot and tried to hold a runner. But it didn't really work either and in the end a BE day isn't really too bad in trading as I managed NOT to lose. Only bad thing is that I didn't manage to put some gains in my account

Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #177 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
Platform: IB & NinjaTrader
Broker: Interactive Brokers
Trading: ES, CL
Posts: 733 since Jul 2013
Thanks Given: 1,262
Thanks Received: 3,029

here they are



Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #178 (permalink)
 
mastadee's Avatar
 mastadee 
Mexico City, Mexico
 
Experience: Advanced
Platform: IB & NinjaTrader
Broker: Interactive Brokers
Trading: ES, CL
Posts: 733 since Jul 2013
Thanks Given: 1,262
Thanks Received: 3,029

to complete the day, no change really



Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #179 (permalink)
 
rassi's Avatar
 rassi 
the congo
 
Experience: Advanced
Platform: North sea oil rig
Trading: Cl
Posts: 927 since Jun 2009
Thanks Given: 1,563
Thanks Received: 1,199

If you take a valid trade and your new ATM is all set just walk away for 5 mins. Grab a coffee or walk in the garden. Take some deep breaths and feel good about following your planned process.

Imho you need to focus on the process more and the money less. Do that and the money will look after itself.


Sent from my iPhone using Tapatalk

Visit my NexusFi Trade Journal Reply With Quote
  #180 (permalink)
 
rassi's Avatar
 rassi 
the congo
 
Experience: Advanced
Platform: North sea oil rig
Trading: Cl
Posts: 927 since Jun 2009
Thanks Given: 1,563
Thanks Received: 1,199


If you take a valid trade and your new ATM is all set just walk away for 5 mins. Grab a coffee or walk in the garden. Take some deep breaths and feel good about following your planned process.

Imho you need to focus on the process more and the money less. Do that and the money will look after itself.


Sent from my iPhone using Tapatalk

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on October 5, 2017


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts