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Safin's Trading Journal
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Safin's Trading Journal

  #121 (permalink)
Elite Member
London, Ontario
 
Futures Experience: Intermediate
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Favorite Futures: ES, CL Futures
 
Posts: 273 since Jun 2010
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Sep-7
-------

Ok, so I have decided to do live trading today. Unfortunately losing day. But good test of my patience.

Total profit : -100$ (1 trade, my setup, live account)
I was very excited in morning. Looking for good entries. I saw a nice setup around 10.20am. Support line at 72.84. CL touched this price two times in early morning and it touched this price again around 10am. I entered short at 72.82. This was my first trade, so I decided to go with just 1 target of 7 ticks and stop of 10 ticks. I don't know what happened, this was a strong setup. CL took my order, moved 1 tick and came back to hit my stop. After that it started drawing zig zag narrow ranges. So I decided to stay away from trading for the day. There were few good moves by CL, but all unpredictable for me. So better to stay away from live trading. I did one trade on SIM, and ofcourse that was a winner. On 15 mins chart, there were coulple of inside bars but all unaffordable to me.

I will try again tomorrow to see if I can get a profitable trade on live account. Any advise before going to live trading is welcome. Have a good day.

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  #122 (permalink)
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safin View Post
Any advise before going to live trading is welcome.

I believe you've demonstrated you have an edge, the focus of live vs sim needs to be all on execution --- your live trades need to closely resemble/mimic your sim trades. Any time they do not, you must learn from it, you must institute corrective action, you must resolve the discrepancy of live vs. sim. Do this, and you will be on your way.

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  #123 (permalink)
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London, Ontario
 
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Big Mike View Post
I believe you've demonstrated you have an edge, the focus of live vs sim needs to be all on execution --- your live trades need to closely resemble/mimic your sim trades. Any time they do not, you must learn from it, you must institute correction action, you must resolve the discrepancy of live vs. sim. Do this, and you will be on your way.

Mike

Thank you mike. Point noted. I hope I will overcome my nervousness and continue normal trading.

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  #124 (permalink)
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Italy - Roma
 
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safin View Post
Total profit : -100$ (1 trade, my setup, live account)
I was very excited in morning. Looking for good entries. I saw a nice setup around 10.20am. Support line at 72.84. CL touched this price two times in early morning and it touched this price again around 10am. I entered short at 72.82. This was my first trade, so I decided to go with just 1 target of 7 ticks and stop of 10 ticks.


I admit I did not read the entire thread, so I don't know where your edge is, but the first thing I thinked looking at this trade was "this stop is too tigth, it is even inside the same 5min bar of the entry".
Where this stop came from? Was it a meaningful price level?

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  #125 (permalink)
Elite Member
London, Ontario
 
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Favorite Futures: ES, CL Futures
 
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jagui View Post
I admit I did not read the entire thread, so I don't know where your edge is, but the first thing I thinked looking at this trade was "this stop is too tigth, it is even inside the same 5min bar of the entry".
Where this stop came from? Was it a meaningful price level?

Hi Jagui,

Thanks for your feedback. I know lot of CL traders think 10 ticks stop is very small. But it has been working for me since I started my thread. My method is looking for desperate s/r breakouts, where usually there is no looking back from CL if my analysis is right. I do lose occasionally when I couldn't find proper s/r levels or else when I try to trade during news time. Still not 100% method, but it does the job for me. I hope I will keep the same method for live trades as well. Ofcourse there are lot of emotions with live trading, and it's hard to keep up with the plan.

Thank you for dropping by.

Shabdar

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  #126 (permalink)
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Montreal
 
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Bonjour Safin,

I thought everybody trading in the skype trade room was trading live.

So now Live you will learn a lot about why you did not enter but would have easily entered Sim.

We can practice our strategy forever but Live Trading and melting portfolio makes us hesitate a lot before pulling the trigger.
That's why I end up not trading my best setups. I hesitate too much and for too long then the trade is gone and I have to wait for another opportunity where I will ask myself again 'would I enter on the right side of the market?' hesitating too much again and missing another trade and so on...lol

I don't question myself that much on the replay at night and should trade Live at the same opportunities. I'm working on it!

I give you the right to doubt, hesitate and keep your money this week. The hesitation curse is on you now but we will make it some day, we have to!


Safin this is the Rosh Hashana Jewish holiday starting today ' happy Rosh Hashana to every one concerned'.
The market is led by the Jewish community so don't expect market behavior to be consistent or strong this week but expect your trades to be winners anyway ;-)

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  #127 (permalink)
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PiCoTrader View Post
Bonjour Safin,

I thought everybody trading in the skype trade room was trading live.

So now Live you will learn a lot about why you did not enter but would have easily entered Sim.

We can practice our strategy forever but Live Trading and melting portfolio makes us hesitate a lot before pulling the trigger.
That's why I end up not trading my best setups. I hesitate too much and for too long then the trade is gone and I have to wait for another opportunity where I will ask myself again 'would I enter on the right side of the market?' hesitating too much again and missing another trade and so on...lol

I don't question myself that much on the replay at night and should trade Live at the same opportunities. I'm working on it!

I give you the right to doubt, hesitate and keep your money this week. The hesitation curse is on you now but we will make it some day, we have to!


Safin this is the Rosh Hashana Jewish holiday starting today ' happy Rosh Hashana to every one concerned'.
The market is led by the Jewish community so don't expect market behavior to be consistent or strong this week but expect your trades to be winners anyway ;-)

Thanks Pico for dropping by and sharing your experience with Live trades. You're right, it's lot hard to pull triggers when your hard earned money is on bet. Let's see how it goes. Yes I am hesitating a lot.

I did mentioned about my Sim trading for couple of weeks or months in my first post. May be I should have mentioned it in Chat room as well.


Last edited by safin; September 8th, 2010 at 11:49 AM.
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  #128 (permalink)
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London, Ontario
 
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Favorite Futures: ES, CL Futures
 
Posts: 273 since Jun 2010
Thanks: 147 given, 340 received

Sep-8
--------

No trades today. CL was ranging enough to confuse me. There were 1-2 chances to enter, but I didn't go for it because of low probability trades. Check out charts for more details. No IBs/OBs for me today.

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Safin's Trading Journal-cl-5-mins.png   Safin's Trading Journal-cl-15-mins.png  
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  #129 (permalink)
Elite Member
London, Ontario
 
Futures Experience: Intermediate
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Favorite Futures: ES, CL Futures
 
Posts: 273 since Jun 2010
Thanks: 147 given, 340 received

Sep-9
-------

Total Profit : 0$ (1 trade, my setup)
E-mini's contact expiration day plus Jewish holiday. Market was very steep in morning. I saw a nice setup at 10.20am. Support line at 75.50. CL touched this price couple of times. Very strong setup. So I shorted at 75.49 with 7 ticks target, 10 ticks stop. CL moved 3 ticks and started going in negative territory. I waited for 2 minutes. It was a false breakout. Exited at break-even as soon as I could.

After this setup Natural Gas Storage news at 10.30am and Oil inventory report at 11am. So I decided to stay away.

At lunch time, when I was away, CL suddenly jumped in down direction. There was one small opportunity to short there after a small pullback, but I guess I wouldn't have taken it because of lunch time.

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  #130 (permalink)
Elite Member
London, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, CL Futures
 
Posts: 273 since Jun 2010
Thanks: 147 given, 340 received


10-Sep
---------

No trades today. I was away for some personal work. Next week should be a good one I guess. Lot of choppiness in market this week. Not so many good opportunities.

Have a good weekend everyone.

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