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


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

  #281 (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


aquarian1 View Post
Any results from Sept 8?

Hi,

yeah I wanted to post anyways what had happened last Friday. Just to put it short, I messed up and used my daily loss limit but didn't consider the commissions and therefore, broke the rules and the combine was over...

I wasn't sure if I should reset the account but this morning, I decided to give it a last go and pay the $100 as I thought, I pretty much received the $375 combine for free so I should give it a last shot and continue to document it.

I broke my own risk limits pretty fast as I tried to long CL on Friday, I had 2 losing trades where I scaled in too many lots and was quickly looking at a loss of $-1,645. I told myself that I should stop when reaching -1.5k but I didn't stop and reentered another trade with 10 lots. It went quickly onside +9T but I thought, ok let's wait for at least 15-20T in order to get my loss back. But again, it was a long trade and it quickly turned around after I was up $900... and then didn't stick to my initial stop and increased it and was stopped out. So I was down about -2.5k and I thought, f*** it I give it another shot and again I was stopped out and I was down -2.9k. But I only realized after I was stopped that with commissions, I had broken the rule and the combine was over...was pretty annoyed at myself and didn't have the balls to post my stupidity.

So then yday and this morning, I decided to give one last try and my next post shows my trades and recap from my session

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  #282 (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

After Friday's sell-off, I was very cautions in the morning and waited for clear set-ups. Initially after I had done my daily prep I was looking for support areas and I had marked them on my 60min chart. For the first hour CL was trending just lower and lower and I entered a short but was stopped at BE,

Then I tried to long just above even 47 as it looked it would hold, however I was stopped out.

Then I entered a long (3 lots) and put a limit order for another 3 lots on even 47 which was filled and stop below at 46.95, after touching 47, it just took off and I made a nice gain and considered to stop the trading session on this combine account but I continued to trade a bit more but couldn't really hold the next trades for proper gains and was just scalping and managed to end the day with a gain of $+819.

Here are my trades:

CL



ES




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  #283 (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 just the summary:



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  #284 (permalink)
NerradC
Perth AUSTRALIA
 
Posts: 253 since Jun 2017
Thanks Given: 79
Thanks Received: 87


mastadee View Post
Hi,

yeah I wanted to post anyways what had happened last Friday. Just to put it short, I messed up and used my daily loss limit but didn't consider the commissions and therefore, broke the rules and the combine was over...

I wasn't sure if I should reset the account but this morning, I decided to give it a last go and pay the $100 as I thought, I pretty much received the $375 combine for free so I should give it a last shot and continue to document it.

I broke my own risk limits pretty fast as I tried to long CL on Friday, I had 2 losing trades where I scaled in too many lots and was quickly looking at a loss of $-1,645. I told myself that I should stop when reaching -1.5k but I didn't stop and reentered another trade with 10 lots. It went quickly onside +9T but I thought, ok let's wait for at least 15-20T in order to get my loss back. But again, it was a long trade and it quickly turned around after I was up $900... and then didn't stick to my initial stop and increased it and was stopped out. So I was down about -2.5k and I thought, f*** it I give it another shot and again I was stopped out and I was down -2.9k. But I only realized after I was stopped that with commissions, I had broken the rule and the combine was over...was pretty annoyed at myself and didn't have the balls to post my stupidity.

So then yday and this morning, I decided to give one last try and my next post shows my trades and recap from my session


you are the man. I enjoy learning from your thought process and mental strength.


cheers
DarrenC

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  #285 (permalink)
 
aquarian1's Avatar
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
Posts: 4,034 since Dec 2010
Thanks Given: 1,509
Thanks Received: 2,593


mastadee View Post
Hi,

yeah I wanted to post anyways what had happened last Friday. Just to put it short, I messed up and used my daily loss limit but didn't consider the commissions and therefore, broke the rules and the combine was over...

I wasn't sure if I should reset the account but this morning, I decided to give it a last go and pay the $100 as I thought, I pretty much received the $375 combine for free so I should give it a last shot and continue to document it.

I broke my own risk limits pretty fast as I tried to long CL on Friday, I had 2 losing trades where I scaled in too many lots and was quickly looking at a loss of $-1,645. I told myself that I should stop when reaching -1.5k but I didn't stop and reentered another trade with 10 lots. It went quickly onside +9T but I thought, ok let's wait for at least 15-20T in order to get my loss back. But again, it was a long trade and it quickly turned around after I was up $900... and then didn't stick to my initial stop and increased it and was stopped out. So I was down about -2.5k and I thought, f*** it I give it another shot and again I was stopped out and I was down -2.9k. But I only realized after I was stopped that with commissions, I had broken the rule and the combine was over...was pretty annoyed at myself and didn't have the balls to post my stupidity.

So then yday and this morning, I decided to give one last try and my next post shows my trades and recap from my session

Hi

I'm very sorry to hear of your frustrating day.
I trade ES too & felt it was a choppy day (which I stayed out of) and hoped you not try for it anymore on Friday. I guess that's why I asked as I was hoping that you did not get chopped up.
I don't trade CL but I do follow it as I trade and inverse ETF and felt it would break hard so I was worried at your long bias.

I commend you for your honest posting and please understand that we all know how tough it is to post this stuff and wish you all the best. We can beat ourselves up on down days and can be our own worse critics but the truth is we all have them.

Keep swinging!
:-)

..........
peace, love and joy to you
.........
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  #286 (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 we go

Attached Thumbnails
,000 Live trading account challenge - CL & ES-09-12-2017.pdf  
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  #287 (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

Today was an okish day for me. I made a couple mistakes as I took many trades off prematurely but at least I booked small profits and they added up. I didn't manage to reach my goal of 800-1000 as the after lunch session was pretty slow and I had hoped for some movement in ES.

Here are my trades (15 in total):



CL:



ES:




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  #288 (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 the summary:



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  #289 (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 we go:

Attached Thumbnails
,000 Live trading account challenge - CL & ES-09-13-2017.pdf  
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  #290 (permalink)
 
jackbravo's Avatar
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ...uh..ES actually
Posts: 1,337 since Jun 2014
Thanks Given: 4,362
Thanks Received: 2,400



mastadee View Post
Hi,

yeah I wanted to post anyways what had happened last Friday. Just to put it short, I messed up and used my daily loss limit but didn't consider the commissions and therefore, broke the rules and the combine was over...

I wasn't sure if I should reset the account but this morning, I decided to give it a last go and pay the $100 as I thought, I pretty much received the $375 combine for free so I should give it a last shot and continue to document it.

I broke my own risk limits pretty fast as I tried to long CL on Friday, I had 2 losing trades where I scaled in too many lots and was quickly looking at a loss of $-1,645. I told myself that I should stop when reaching -1.5k but I didn't stop and reentered another trade with 10 lots. It went quickly onside +9T but I thought, ok let's wait for at least 15-20T in order to get my loss back. But again, it was a long trade and it quickly turned around after I was up $900... and then didn't stick to my initial stop and increased it and was stopped out. So I was down about -2.5k and I thought, f*** it I give it another shot and again I was stopped out and I was down -2.9k. But I only realized after I was stopped that with commissions, I had broken the rule and the combine was over...was pretty annoyed at myself and didn't have the balls to post my stupidity.


I'm not sure how many times I've gone through this scenario myself, but I would say at least 855,233 times. It must be some sort of stage you have to go through before becoming successful.

"It does not matter how slowly you go, as long as you do not stop." Confucius
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Last Updated on October 5, 2017


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